# EDGAR Filing Document

**Accession Number:** 0001826286
**File Stem:** 0000950103-25-010202
**Filing Date:** 2025-8
**Character Count:** 359882
**Document Hash:** 869ca001a03ba49bed2ab7aeab048645
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-25-010202.hdr.sgml**: 20250812

**ACCESSION NUMBER**: 0000950103-25-010202

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 50

**CONFORMED PERIOD OF REPORT**: 20250812

**FILED AS OF DATE**: 20250812

**DATE AS OF CHANGE**: 20250812

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vinci Compass Investments Ltd.
- **CENTRAL INDEX KEY:** 0001826286
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39938
- **FILM NUMBER:** 251206735

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** AV. BARTOLOMEU MITRE, 336
- **CITY:** LEBLON-RIO DE JANEIRO
- **PROVINCE COUNTRY:** D5
- **BUSINESS PHONE:** 55-21-2159-6600

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** AV. BARTOLOMEU MITRE, 336
- **CITY:** LEBLON-RIO DE JANEIRO
- **PROVINCE COUNTRY:** D5

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Vinci Partners Investments Ltd.
- **DATE OF NAME CHANGE:** 20200928

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934**

For the month of August 2025

**Commission File Number: 001**-**39938**

**Vinci Compass Investments Ltd.**

**(Exact name of registrant as specified in its charter)**

**Av. Bartolomeu Mitre, 336<br> Leblon – Rio de Janeiro<br> Brazil 22431-002<br> +55 (21) 2159-6240**

**(Address of principal executive office)**

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

Form 20-F X Form 40-F  

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **EXHIBIT** |  |
| [99.1](dp232963_ex9901.htm) | [Press release dated August 12, 2025 – Vinci Compass Reports Second Quarter 2025 Results](dp232963_ex9901.htm) |
| [99.2](dp232963_ex9902.htm) | [Vinci Compass Second Quarter 2025 Earnings Release](dp232963_ex9902.htm) |
| [99.3](dp232963_ex9903.htm) | [Vinci Compass Second Quarter 2025 Earnings Presentation](dp232963_ex9903.htm) |
| [99.4](dp232963_ex9904.htm) | [Vinci Compass Investments Ltd. Interim Consolidated Financial Statements as of June 30, 2025 and For the Six Months Ended June 30, 2025 and 2024](dp232963_ex9904.htm) |

---

**SIGNATURE**

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.

---

| | | |
|:---|:---|:---|
| **Vinci Compass Investments Ltd.** | **Vinci Compass Investments Ltd.** | **Vinci Compass Investments Ltd.** |
| By: | /s/ Sergio Passos Ribeiro | /s/ Sergio Passos Ribeiro |
|  | Name: | Sergio Passos Ribeiro |
|  | Title: | Chief Financial Officer |

---

Date: August 12, 2025

## Exhibit 99.1

**Exhibit 99.1**

![](image_001.jpg)

**VINCI COMPASS REPORTS SECOND QUARTER 2025 EARNINGS RESULTS**

Rio de Janeiro, August 12, 2025 -- Vinci Compass Investments Ltd. (NASDAQ: VINP) ("Vinci Compass," "the Company," "we," "us," or "our"), the controlling company of a leading alternative investments and global solutions provider in Latin America, reported today its second quarter 2025 earnings results.

Vinci Compass has issued a complete earnings release and a detailed presentation in the 'Quarterly Earnings' section of the company's website at: https://ir.vincicompass.com/financials/quarterly-results/

Alessandro Horta, Chief Executive Officer, stated: "We're pleased to report another strong quarter for Vinci Compass, marked by solid financial results, continued fundraising momentum, and the acceleration of key strategic initiatives across our platform. In the 2Q'25, Vinci Compass posted healthy FRE results, as we continue to bring in additional AUM from a diverse set of strategies, with highlights to Infrastructure, Credit and Global IP&S, and compelling contributions from performance fees and GP Investment Income. We believe we are exceptionally well-positioned to navigate today's dynamic environment on behalf of our investors. Our portfolios remain in excellent shape, and we continue to execute with discipline and focus across all fronts."

**Dividends**

Vinci Compass has declared a quarterly dividend of US$0.15 per share to record holders of common stock at the close of business on August 25, 2025. This dividend will be paid on September 9, 2025.

**Financial Highlights**

Vinci Compass posted Fee Related Earnings of R$65.2 million in the 2Q'25, or R$1.03 per common share. Adjusted Distributable Earnings of R$75.8 million in the 2Q'25, or R$1.20 per common share.

**Earnings Conference Call**

To access the conference call please visit the Events section of the Company's website at: https://ir.vincicompass.com/news-and-events/events. For those unable to listen to the live broadcast, a replay will be available in the same section of the website.

**About Vinci Compass**

Vinci Compass stands as the premier partner for alternative investments and global solutions in Latin America. With nearly three decades of experience and local operations from eleven offices in Latin America and the US, our expertise spans: Private Equity, Credit, Real Estate, Infrastructure, Forestry, Equities, Global Investment Products & Solutions, and Corporate Advisory. Each segment is managed by specialized teams dedicated to investment and advisory excellence. As of June 2025, Vinci Compass had R$304 billion in assets under management and advisory.

**Forward-Looking Statements**

This press release contains forward-looking statements that can be identified by the use of words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "estimate" and "potential," among others. By their nature, forward-looking statements are necessarily subject to a high degree of uncertainty and involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside of our control. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements and there can be no assurance that such forward-looking statements will prove to be correct. The forward-looking statements included herein speak only as at the date of this press release and we do not undertake any obligation to update these forward-looking statements. Past

![](image_001.jpg)

performance does not guarantee or predict future performance. Moreover, neither we nor our affiliates, officers, employees and agents undertake any obligation to review, update or confirm expectations or estimates or to release any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release. Further information on these and other factors that could affect our financial results is included in filings we have made and will make with the U.S. Securities and Exchange Commission from time to time.

**USA Media Contact**

Kate Thompson / Tim Ragones

Joele Frank, Wilkinson Brimmer Katcher

+1 (212) 355-4449

**Latin America Media Contact**

Danthi Comunicações

Carla Azevedo (carla@danthicomunicacoes.com.br)

+55 (21) 3114-0779

**Investor Contact**

ShareholderRelations@vincicompass.com

NY: +1 (646) 559-8040

RJ: +55 (21) 2159-6240

## Exhibit 99.2

**Exhibit 99.2**

**2Q'25 Earnings Release**

ir.vincicompass.com

August 12<sup>th</sup>, 2025

Vinci Compass Reports Second Quarter 2025 Results

Alessandro Horta, Chief Executive Officer, stated, "We're pleased to report another strong quarter for Vinci Compass, marked by solid financial results, continued fundraising momentum, and the acceleration of key strategic initiatives across our platform. In the 2Q'25, Vinci Compass posted healthy FRE results, as we continue to bring in additional AUM from a diverse set of strategies, with highlights to Infrastructure, Credit and Global IP&S, and compelling contributions from performance fees and GP Investment Income. We believe we are exceptionally well-positioned to navigate today's dynamic environment on behalf of our investors. Our portfolios remain in excellent shape, and we continue to execute with discipline and focus across all fronts."

Realized Performance Fees & Appreciation + Capital Formation

R$17mmRealized Performance Fees 2Q'25 +87% YoY

R$12bn

Appreciation + Capital Formation 2Q'25 Distributable Earnings & Dividends

R$76mm +30% YoY Adj. Distributable Earnings 2Q'25

R$ Adj. Distributable Earnings (per Share) 2Q'25

US$ Quarterly Dividend

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

**About Vinci Compass**

Vinci Compass stands as the premier partner for alternative investments and global solutions in Latin America. With nearly three decades of experience and local operations from eleven offices in Latin America and the US, our expertise spans: Private Equity, Credit, Real Estate, Infrastructure, Forestry, Equities, Global Investment Products & Solutions, and Corporate Advisory. Each segment is managed by specialized teams dedicated to investment and advisory excellence. As of June 2025, Vinci Compass had R$304 billion in assets under management and advisory.

**Webcast and Earnings Conference Call**

Vinci Compass will host a conference call at 5:00pm ET on Tuesday, August 12, 2025, to announce its second quarter 2025 results.

To access the webcast please visit the Events & Presentations' section of the Company's website at:

https://ir.vincicompass.com/news-and-events/events.

For those unable to listen to the live broadcast, there will be a webcast replay on the same section of the website.

**Investor Contact**

ShareholderRelations@vincicompass.com

NY: +1 (646) 559-8040

RJ: +55 (21) 2159-6240

**USA Media Contact**

Joele Frank, Wilkinson Brimmer Katcher

Kate Thompson

+1 (212) 355-4449

**Brazil Media Contact**

Danthi Comunicações

Carla Azevedo (carla@danthicomunicacoes.com.br)

+55 (21) 3114-0779

Earnings Release \| Vinci Compass 3

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

**Segment Earnings**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(R$ thousands, unless mentioned)** | **2Q'24** | **1Q'25** | **2Q'25** | **∆** **YoY(%)** | **2Q'24 YTD** | **2Q'25 YTD** | **∆** **YoY(%)** |
| Net revenue from management fees | 114134 | 195529 | 195569 | 71% | 210589 | 391098 | 86% |
| Net revenue from advisory fees | 11481 | 24853 | 26220 | 128% | 21840 | 51073 | 134% |
| Other revenues | – | 11262 | 10944 | N/A | – | 22206 | N/A |
| **Total Fee Related Revenues<sup>i</sup>** | **125615** | **231644** | **232733** | **85%** | **232429** | **464377** | **100%** |
| Segment personnel expenses | (7556) | (20125) | (20682) | 174% | (14893) | (40807) | 174% |
| Other G&A expenses | (6535) | (15431) | (17423) | 167% | (12030) | (32854) | 173% |
| Placement fee amortization and rebates | (490) | (21015) | (17792) | 3,531% | (991) | (38807) | 3,816% |
| Corporate center expenses | (25750) | (77652) | (78484) | 205% | (46837) | (156136) | 233% |
| Bonus compensation related to management and advisory | (23380) | (31744) | (33127) | 42% | (42128) | (64871) | 54% |
| **Total Fee Related Expenses** | **(63711)** | **(165967)** | **(167509)** | **163%** | **(116879)** | **(333476)** | **185%** |
| **FEE RELATED EARNINGS (FRE)<sup>ii</sup>** | **61904** | **65677** | **65224** | **5%** | **115550** | **130901** | **13%** |
| *FRE Margin<sup>iii</sup> (%)* | *49.3%* | *28.4%* | *28.0%* |  | *49.7%* | *28.2%* |  |
| *FRE per share<sup>iv</sup> (R$/share)* | *1.16* | *1.04* | *1.03* | *(11)%* | *2.17* | *2.07* | *(5)%* |
| Net revenue from performance fees | 5613 | 3077 | 8342 | 49% | 7886 | 11419 | 45% |
| Performance based compensation | (2503) | (1350) | (3683) | 47% | (3512) | (5033) | 43% |
| **PERFORMANCE RELATED EARNINGS (PRE)<sup>v</sup>** | **3110** | **1727** | **4660** | **50%** | **4374** | **6387** | **46%** |
| *PRE Margin<sup>vi</sup> (%)* | *55.4%* | *56.1%* | *55.9%* |  | *55.5%* | *55.9%* |  |
| (-) Unrealized performance fees | 3483 |  | 8711 | 150% | 3483 | 8711 | 150% |
| (+) Unrealized performance compensation | (1233) |  | (3083) | 150% | (1233) | (3083) | 150% |
| (+) Realized GP investment income | 12379 | 4285 | 13576 | 10% | 16785 | 17861 | 6% |
| **SEGMENT DISTRIBUTABLE EARNINGS<sup>vii</sup>** | **79643** | **71689** | **89088** | **12%** | **138959** | **160777** | **16%** |
| *Segment DE Margin (%)* | *54.1%* | *30.0%* | *33.8%* |  | *53.3%* | *32.0%* |  |
| (+) Depreciation and amortization | 1873 | 3361 | 2779 | 48% | 3764 | 6140 | 63% |
| (+) Realized financial income | 11421 | 14423 | 21804 | 91% | 23783 | 36227 | 52% |
| (-) Leasing expenses | (2076) | (3758) | (3722) | 79% | (4292) | (7480) | 74% |
| (-) Other items<sup>viii</sup> | (17517) | (14004) | (20758) | 19% | (26753) | (34762) | 30% |
| (-) Non-operational expenses<sup>ix</sup> | (11674) | (255) | (618) | (95)% | (13007) | (873) | (93)% |
| (-) Income taxes (excluding related to unrealized fees and income) | (14872) | (9378) | (13236) | (11)% | (27359) | (22614) | (17)% |
| **DISTRIBUTABLE EARNINGS (DE)<sup>x</sup>** | **46797** | **62078** | **75337** | **61%** | **95094** | **137415** | **45%** |
| *DE Margin<sup>xi</sup> (%)* | *29.5%* | *24.5%* | *26.4%* |  | *33.4%* | *25.5%* |  |
| *DE per share (R$/share)* | *0.88* | *0.98* | *1.19* | *36%* | *1.79* | *2.17* | *22%* |
| (+) Nonrecurring expenses (including Income Tax effect) | 11604 | 228 | 422 | (96)% | 12912 | 650 | (95)% |
| **ADJUSTED DISTRIBUTABLE EARNINGS<sup>xii</sup>** | **58401** | **62306** | **75759** | **30%** | **108006** | **138065** | **28%** |
| *Adjusted DE Margin<sup>xiii</sup> (%)* | *36.8%* | *24.6%* | *26.6%* |  | *38.0%* | *25.6%* |  |
| *Adjusted DE per share<sup>xiv</sup> (R$/share)* | *1.10* | *0.98* | *1.20* | *9%* | *2.03* | *2.18* | *8%* |

---

**Total Fee Related Revenues** of R$232.7 million for the quarter ended June 30, 2025, compared to R$125.6 million for the quarter ended June 28, 2024, an increase of 85% year-over-year. This increase was pushed by growth in management fees and higher advisory fees, driven mostly by the contribution from the Compass and Lacan transactions, combined with organic fundraising from the Private Equity and Real Assets segments. In the quarter, management fees accounted for R$195.6 million, an increase of 71% year-over-year. Advisory fees, which include fees coming from upfront fees charged for third-party distribution alternative commitments in Global IP&S and the Corporate Advisory segment totaled R$26.2 million, up 128% year-over-year. Other revenues, which comprise of brokerage fees and fund services fees, totaled R$10.9 million in the quarter. Fee Related Revenues were R$464.4 million for the year-to-date period ended June 30, 2025, up 100% when compared to the year-to-date period ended June 28, 2024, driven by strong fundraising across Private Equity, Credit and Real Assets products additional to the fees coming from transactions with Compass, MAV and Lacan.

Earnings Release \| Vinci Compass 4

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

**Fee Related Earnings ("FRE")** of R$65.2 million (R$1.03/share) for the quarter ended June 30, 2025, up 5% year-over-year on an absolute basis and down 11% year-over-year on a per share basis, driven by higher catch-up fees in the 2Q'24 due to the fundraising cycle of VCP IV. Excluding catch-up fees in the 2Q'24 and 2Q'25, FRE grew by 25% year-over-year on a nominal basis. FRE of R$130.9 million (R$2.07/share) for the year-to-date period ended June 30, 2025, up 13% when compared to the year-to-date period ended June 28, 2024.

**Performance Related Earnings ("PRE")** of R$4.7 million for the quarter ended June 30, 2025, up 50% year-over-year. This growth was driven by net performance fees recognized across Credit, Equities, Global IP&S and Real Assets segments. PRE was R$6.4 million for the year-to-date period ended June 30, 2025, an increase of 46% when compared to the year-to-date period ended June 28, 2024.

**Segment Distributable Earnings** of R$89.1 million for the quarter ended June 30, 2025, up 12% year-over-year. Segment Distributable Earnings were R$160.8 million for the year-to-date period ended June 30, 2025, up 16% year-over-year.

**Adjusted Distributable Earnings ("DE")** of R$75.8 million (R$1.20/share) for the quarter ended June 30, 2025, up 30% year-over-year on an absolute basis and 9% year-over-year on a per share basis. The increase was driven by stronger realized performance fees and realized GP investment income. Adjusted DE was R$138.1 million (R$2.18/share) for the year-to-date period ended June 30, 2025, up 28% when compared to the year-to-date period ended June 28, 2024, on an absolute basis, and up 8% on a per share basis.

Earnings Release \| Vinci Compass 5

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

**Segment Highlights**

Global IP&S

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(R$ thousands, unless mentioned)** | **2Q'24** | **1Q'25** | **2Q'25** | **∆** **YoY (%)** | **2Q'24 YTD** | **2Q'25 YTD** | **∆** **YoY (%)** |
| Net revenue from management fees | 19134 | 65625 | 59691 | 212% | 39106 | 125316 | 220% |
| Net revenue from advisory fees | 524 | 22547 | 17527 | 3,245% | 532 | 40074 | 7,433% |
| Other revenues |  | 11085 | 10748 | N/A |  | 21833 | N/A |
| **Total Fee Related Revenues** | **19659** | **99257** | **87966** | **347%** | **39639** | **187223** | **372%** |
| Segment personnel expenses | (2188) | (6299) | (5841) | 167% | (4376) | (12140) | 177% |
| Other G&A expenses | (2881) | (7043) | (8383) | 191% | (5508) | (15426) | 180% |
| Placement fee amortization and rebates |  | (9438) | (9683) | N/A |  | (19122) | N/A |
| Corporate center expenses | (4777) | (42022) | (39995) | 737% | (8958) | (82017) | 816% |
| Bonus compensation related to management and advisory | (6255) | (13419) | (11598) | 85% | (11009) | (25017) | 127% |
| **Total Fee Related Expenses** | **(16101)** | **(78221)** | **(75501)** | **369%** | **(29851)** | **(153722)** | **415%** |
| **FEE RELATED EARNINGS (FRE)** | **3557** | **21035** | **12466** | **250%** | **9787** | **33501** | **242%** |
| *FRE Margin (%)* | *18.1%* | *21.2%* | *14.2%* |  | *24.7%* | *17.9%* |  |
| Net revenue from performance fees | 214 | 1295 | 536 | 150% | 223 | 1830 | 721% |
| *Realized performance fees* | *214* | *1295* | *536* | *150%* | *223* | *1830* | *721%* |
| *Unrealized performance fees* | *–* | *–* | *–* | *N/A* | *–* | *–* | *N/A* |
| Performance based compensation | (107) | (562) | (265) | 148% | (111) | (828) | 645% |
| **PERFORMANCE RELATED EARNINGS (PRE)** | **107** | **732** | **270** | **153%** | **112** | **1003** | **795%** |
| *PRE Margin (%)* | *50.0%* | *56.6%* | *50.5%* |  | *50.2%* | *54.8%* |  |
| (-) Unrealized performance fees |  |  |  | N/A |  |  | N/A |
| (+) Unrealized performance compensation |  |  |  | N/A |  |  | N/A |
| (+) Realized GP investment income | 169 | 296 | 397 | 135% | 227 | 692 | 205% |
| **SEGMENT DISTRIBUTABLE EARNINGS** | **3834** | **22063** | **13133** | **243%** | **10127** | **35196** | **248%** |
| *Segment DE Margin (%)* | *19.1%* | *21.9%* | *14.8%* |  | *25.3%* | *18.5%* |  |
| **FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions)** | **24845** | **230551** | **228773** | **821%** | **24845** | **228773** | **821%** |
| **AVERAGE FEE RATE (%)** | **0.33%** | **0.13%** | **0.13%** |  | **0.34%** | **0.13%** |  |
| **FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions) EX-UPFRONTS<sup>4</sup>** | **24845** | **180855** | **182317** | **634%** | **24845** | **182317** | **634%** |
| **AVERAGE FEE RATE (%) EX-UPFRONTS** | **0.33%** | **0.17%** | **0.16%** |  | **0.34%** | **0.16%** |  |

---

**Fee Related Earnings (FRE)** of R$12.5 million for the quarter ended June 30, 2025, up 250% year-over-year. This growth was driven by management and advisory fees from third-party distribution (TPD) across liquid and alternative strategies coming from the combination with Compass. Global IP&S advisory fees consist of upfront fees charged for TPD alternative commitments. FRE was R$33.5 million for the year-to-date period ended June 30, 2025, a 242% increase when compared to the 2Q'24 year-to-date period ended June 28, 2024.

**Performance Related Earnings (PRE)** of R$0.3 million for the second quarter 2025, up 153% year-over-year. These performance fees were driven by separate mandate funds in Brazil.

**Segment Distributable Earnings** of R$13.1 million for the quarter ended June 30, 2025, up 243% year-over-year, driven by higher Fee Related Earnings in the quarter. Segment DE was R$35.2 million for the year-to-date period ended June 30, 2025.

**AUM** **<sup>xv</sup>** R$230.2 billion, representing an 819% year-over-year increase. This growth was driven by both inorganic expansion and appreciation within the portfolio.

Earnings Release \| Vinci Compass 6

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

Credit

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(R$ thousands, unless mentioned)** | **2Q'24** | **1Q'25** | **2Q'25** | **∆** **YoY (%)** | **2Q'24 YTD** | **2Q'25 YTD** | **∆** **YoY (%)** |
| Net revenue from management fees | 14483 | 52818 | 54518 | 276% | 27666 | 107336 | 288% |
| Net revenue from advisory fees |  |  |  | N/A | 280 |  | (100)% |
| Other revenues |  |  |  | N/A |  |  | N/A |
| **Total Fee Related Revenues** | **14483** | **52818** | **54518** | **276%** | **27945** | **107336** | **284%** |
| Segment personnel expenses | (1310) | (6851) | (6928) | 429% | (2673) | (13779) | 415% |
| Other G&A expenses | (688) | (2561) | (3191) | 364% | (1452) | (5752) | 296% |
| Placement fee amortization and rebates |  | (8065) | (7525) | N/A |  | (15590) | N/A |
| Corporate center expenses | (3609) | (17123) | (17207) | 377% | (6337) | (34330) | 442% |
| Bonus compensation related to management and advisory | (3049) | (8017) | (8196) | 169% | (5545) | (16213) | 192% |
| **Total Fee Related Expenses** | **(8655)** | **(42617)** | **(43047)** | **397%** | **(16007)** | **(85664)** | **435%** |
| **FEE RELATED EARNINGS (FRE)** | **5828** | **10202** | **11471** | **97%** | **11939** | **21673** | **82%** |
| *FRE Margin (%)* | *40.2%* | *19.3%* | *21.0%* |  | *42.7%* | *20.2%* |  |
| Net revenue from performance fees | 3405 | 16 | 4507 | 32% | 3412 | 4522 | 33% |
| *Realized performance fees* | *3405* | *16* | *4507* | *32%* | *3412* | *4522* | *33%* |
| *Unrealized performance fees* | *–* | *–* | *–* | *N/A* | *–* | *–* | *N/A* |
| Performance based compensation | (1508) | (2) | (1959) | 30% | (1512) | (1961) | 30% |
| **PERFORMANCE RELATED EARNINGS (PRE)** | **1898** | **13** | **2548** | **34%** | **1902** | **2561** | **35%** |
| *PRE Margin (%)* | *55.7%* | *86.6%* | *56.5%* |  | *55.7%* | *56.6%* |  |
| (-) Unrealized performance fees |  |  |  | N/A |  |  | N/A |
| (+) Unrealized performance compensation |  |  |  | N/A |  |  | N/A |
| (+) Realized GP investment income | 2340 | 1477 | 1816 | (22)% | 3982 | 3292 | (17)% |
| **SEGMENT DISTRIBUTABLE EARNINGS** | **10066** | **11692** | **15835** | **57%** | **17823** | **27527** | **54%** |
| *Segment DE Margin (%)* | *49.8%* | *21.5%* | *26.0%* |  | *50.4%* | *23.9%* |  |
| **FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM)** | **8311** | **28764** | **29908** | **260%** | **8311** | **29908** | **260%** |
| **AVERAGE MANAGEMENT FEE RATE (%)** | **0.75%** | **0.76%** | **0.76%** |  | **0.75%** | **0.76%** |  |

---

**Fee Related Earnings (FRE)** of R$11.5 million for the quarter ended June 30, 2025, up 97% year-over-year, driven by higher management fees from both inorganic and organic growth, coming from fundraising, deployment and portfolio appreciation across various strategies and geographies. FRE was R$21.7 million for the year-to-date period ended June 30, 2025, up 82% when compared to the year-to-date period ended June 28, 2024.

**Performance Related Earnings (PRE)** was R$2.5 million for the quarter ended June 30, 2025, up 34% year-over-year, coming mainly from our Private Credit High Grade strategy.

**Segment Distributable Earnings** of R$15.8 million for the quarter ended June 30, 2025, up 57% year-over-year, driven by higher Fee Related Earnings in the quarter. Segment DE was R$27.5 million for the year-to-date period ended June 30, 2025.

**AUM** of R$29.9 billion in the quarter, up 260% year-over-year. In the year-to-date period ended June 30, 2025, in addition to the added inorganic AUM from transactions with Compass and MAV, we had a strong organic fundraising activity, securing new commitments for the segment — with closings of SPS IV, from the Opportunistic Capital Solutions strategy, and PEPCO II from our Diversified Private Credit strategy.

Earnings Release \| Vinci Compass 7

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

Private Equity

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(R$ thousands, unless mentioned)** | **2Q'24** | **1Q'25** | **2Q'25** | **∆** **YoY (%)** | **2Q'24 YTD** | **2Q'25 YTD** | **∆** **YoY (%)** |
| Net revenue from management fees | 43480 | 31294 | 30710 | (29)% | 69764 | 62005 | (11)% |
| Net revenue from advisory fees |  |  |  | N/A |  |  | N/A |
| Other revenues |  |  |  | N/A |  |  | N/A |
| **Total Fee Related Revenues** | **43480** | **31294** | **30710** | **(29)%** | **69764** | **62005** | **(11)%** |
| Segment personnel expenses | (1080) | (1168) | (1178) | 9% | (2146) | (2346) | 9% |
| Other G&A expenses | (1183) | (798) | (1393) | 18% | (1716) | (2191) | 28% |
| Placement fee amortization and rebates | (298) | (367) | (363) | 22% | (607) | (730) | 20% |
| Corporate center expenses | (6884) | (6032) | (6518) | (5)% | (12334) | (12550) | 2% |
| Bonus compensation related to management and advisory | (4571) | (3497) | (3636) | (20)% | (7677) | (7134) | (7)% |
| **Total Fee Related Expenses** | **(14017)** | **(11861)** | **(13088)** | **(7)%** | **(24481)** | **(24949)** | **2%** |
| **FEE RELATED EARNINGS (FRE)** | **29464** | **19433** | **17622** | **(40)%** | **45284** | **37055** | **(18)%** |
| *FRE Margin (%)* | *67.8%* | *62.1%* | *57.4%* |  | *64.9%* | *59.8%* |  |
| Net revenue from performance fees |  |  |  | N/A |  |  | N/A |
| *Realized performance fees* | *–* | *–* | *–* | *N/A* | *–* | *–* | *N/A* |
| *Unrealized performance fees* | *–* | *–* | *–* | *N/A* | *–* | *–* | *N/A* |
| Performance based compensation |  |  |  | N/A |  |  | N/A |
| **PERFORMANCE RELATED EARNINGS (PRE)** | **–** | **–** | **–** | **N/A** | **–** | **–** | **N/A** |
| *PRE Margin (%)* | *N/A* | *N/A* | *N/A* |  | *N/A* | *N/A* |  |
| (-) Unrealized performance fees |  |  |  | N/A |  |  | N/A |
| (+) Unrealized performance compensation |  |  |  | N/A |  |  | N/A |
| (+) Realized GP investment income |  |  | 1692 | N/A |  | 1692 | N/A |
| **SEGMENT DISTRIBUTABLE EARNINGS** | **29464** | **19433** | **19314** | **(34)%** | **45284** | **38747** | **(14)%** |
| *Segment DE Margin (%)* | *67.8%* | *62.1%* | *59.6%* |  | *64.9%* | *60.8%* |  |
| **FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM)** | **12385** | **13287** | **12710** | **3%** | **12385** | **12710** | **3%** |
| **AVERAGE MANAGEMENT FEE RATE (%)** | **1.57%** | **1.00%** | **1.01%** |  | **1.29%** | **1.00%** |  |

---

**Fee Related Earnings (FRE)** of R$17.6 million for the quarter ended June 30, 2025, down 40% year-over-year. This decrease is due solely to the catch-up fees recognized in the 2Q'24 from the strong fundraising of the VCP IV strategy in that quarter, which ended in the 4Q'24, thus not occurring again in 2025. Excluding this effect and considering only recurring management fees, FRE would be up 21% year-over-year.

**Segment Distributable Earnings** of R$19.3 million for the quarter ended June 30, 2025, down 34% when compared to the quarter ended June 28, 2024, in line with the decline in Fee Related Earnings. Segment DE was R$38.7 million for the year-to-date period ended June 30, 2025.

**AUM** of R$15.8 billion at the end of the second quarter, a 2% increase year-over-year, supported by the fundraising of the fourth flagship Private Equity Vintage, VCP IV.

Earnings Release \| Vinci Compass 8

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

Equities

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(R$ thousands, unless mentioned)** | **2Q'24** | **1Q'25** | **2Q'25** | **∆** **YoY (%)** | **2Q'24 YTD** | **2Q'25 YTD** | **∆** **YoY (%)** |
| Net revenue from management fees | 13762 | 18794 | 18686 | 36% | 27726 | 37480 | 35% |
| Net revenue from advisory fees |  |  |  | N/A |  |  | N/A |
| Other revenues |  |  |  | N/A |  |  | N/A |
| **Total Fee Related Revenues** | **13762** | **18794** | **18686** | **36%** | **27726** | **37480** | **35%** |
| Segment personnel expenses | (834) | (2269) | (2969) | 256% | (1723) | (5238) | 204% |
| Other G&A expenses | (475) | (2121) | (1497) | 215% | (819) | (3618) | 342% |
| Placement fee amortization and rebates |  | (1551) | (1402) | N/A |  | (2953) | N/A |
| Corporate center expenses | (3382) | (5701) | (5991) | 77% | (6272) | (11692) | 86% |
| Bonus compensation related to management and advisory | (2267) | (2562) | (2601) | 15% | (4271) | (5163) | 21% |
| **Total Fee Related Expenses** | **(6958)** | **(14203)** | **(14460)** | **108%** | **(13084)** | **(28663)** | **119%** |
| **FEE RELATED EARNINGS (FRE)** | **6804** | **4591** | **4226** | **(38)%** | **14642** | **8817** | **(40)%** |
| *FRE Margin (%)* | *49.4%* | *24.4%* | *22.6%* |  | *52.8%* | *23.5%* |  |
| Net revenue from performance fees | 1679 | 1767 | 3299 | 96% | 3936 | 5066 | 29% |
| *Realized performance fees* | *1679* | *1767* | *3299* | *96%* | *3936* | *5066* | *29%* |
| *Unrealized performance fees* | *–* | *–* | *–* | *N/A* | *–* | *–* | *N/A* |
| Performance based compensation | (749) | (786) | (1426) | 90% | (1750) | (2212) | 26% |
| **PERFORMANCE RELATED EARNINGS (PRE)** | **929** | **982** | **1873** | **102%** | **2184** | **2854** | **31%** |
| *PRE Margin (%)* | *55.3%* | *55.6%* | *56.8%* |  | *55.5%* | *56.3%* |  |
| (-) Unrealized performance fees |  |  |  | N/A |  |  | N/A |
| (+) Unrealized performance compensation |  |  |  | N/A |  |  | N/A |
| **SEGMENT DISTRIBUTABLE EARNINGS** | **7733** | **5573** | **6099** | **(21)%** | **16826** | **11671** | **(31)%** |
| *Segment DE Margin (%)* | *50.1%* | *27.1%* | *27.7%* |  | *53.1%* | *27.4%* |  |
| **FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM)** | **9426** | **14739** | **15502** | **64%** | **9426** | **15502** | **64%** |
| **AVERAGE MANAGEMENT FEE RATE (%)** | **0.61%** | **0.55%** | **0.51%** |  | **0.61%** | **0.53%** |  |

---

**Fee Related Revenues** of R$18.7 million for the quarter ended June 30, 2025, up 36% year-over-year. This increase was driven primarily by the consolidation of Compass' regional Equities platform, which contributed to growth in management fees.

**Fee Related Earnings (FRE)** of R$4.2 million for the quarter ended June 30, 2025, down 38% year-over-year due to higher expenses following the combination with Compass. FRE was R$8.8 million for the year-to-date period ended June 30, 2025, down 40% when compared to the same period in 2024.

**Performance Related Earnings (PRE)** of R$1.9 million for the quarter ended June 30, 2025, up 102% year-over-year, driven by higher realized performance fees in the period.

**Segment Distributable Earnings** of R$6.1 million for the quarter ended June 30, 2025, down 21% year-over-year, reflecting lower FRE despite the increase in performance fees. Segment DE was R$11.7 million for the year-to-date period ended June 30, 2025.

**AUM** of R$15.6 billion at the end of the second quarter, a 64% increase year-over-year, following the combination with Compass and appreciation in the portfolio.

Earnings Release \| Vinci Compass 9

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

Real Assets

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(R$ thousands, unless mentioned)** | **2Q'24** | **1Q'25** | **2Q'25** | **∆** **YoY (%)** | **2Q'24 YTD** | **2Q'25 YTD** | **∆** **YoY (%)** |
| Net revenue from management fees | 23275 | 26997 | 31963 | 37% | 46327 | 58960 | 27% |
| Net revenue from advisory fees | 2197 | 1850 | 473 | (78)% | 2471 | 2322 | (6)% |
| Other revenues |  | 177 | 197 | N/A |  | 374 | N/A |
| **Total Fee Related Revenues** | **25471** | **29024** | **32633** | **28%** | **48798** | **61656** | **26%** |
| Segment personnel expenses | (1535) | (2986) | (3054) | 99% | (2813) | (6040) | 115% |
| Other G&A expenses | (1023) | (2774) | (2676) | 162% | (2080) | (5450) | 162% |
| Placement fee amortization and rebates | (192) | (1594) | 1181 | N/A | (384) | (413) | 7% |
| Corporate center expenses | (5810) | (5931) | (7712) | 33% | (10593) | (13642) | 29% |
| Bonus compensation related to management and advisory | (4470) | (4083) | (4829) | 8% | (7764) | (8912) | 15% |
| **Total Fee Related Expenses** | **(13031)** | **(17368)** | **(17089)** | **31%** | **(23636)** | **(34457)** | **46%** |
| **FEE RELATED EARNINGS (FRE)** | **12440** | **11656** | **15543** | **25%** | **25161** | **27199** | **8%** |
| *FRE Margin (%)* | *48.8%* | *40.2%* | *47.6%* |  | *51.6%* | *44.1%* |  |
| Net revenue from performance fees | 315 |  | 1 | (100)% | 315 | 1 | (100)% |
| *Realized performance fees* | *3798* | *–* | *8713* | *129%* | *3798* | *8713* | *129%* |
| *Unrealized performance fees* | *(3483)* | *–* | *(8711)* | *150%* | *(3483)* | *(8711)* | *150%* |
| Performance based compensation | (139) |  | (32) | (77)% | (139) | (32) | (77)% |
| **PERFORMANCE RELATED EARNINGS (PRE)** | **176** | **–** | **(31)** | **N/A** | **176** | **(31)** | **N/A** |
| *PRE Margin (%)* | *55.9%* | *N/A* | *N/A* |  | *55.9%* | *N/A* |  |
| (-) Unrealized performance fees | 3483 |  | 8711 | 150% | 3483 | 8711 | 150% |
| (+) Unrealized performance compensation | (1233) |  | (3083) | 150% | (1233) | (3083) | 150% |
| (+) Realized GP investment income | 9870 | 2512 | 9672 | (2)% | 12576 | 12184 | (3)% |
| **SEGMENT DISTRIBUTABLE EARNINGS** | **24735** | **14168** | **30813** | **25%** | **40162** | **44981** | **12%** |
| *Segment DE Margin (%)* | *63.2%* | *44.9%* | *60.4%* |  | *61.6%* | *54.5%* |  |
| **FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM)** | **10625** | **11839** | **12026** | **13%** | **10625** | **12026** | **13%** |
| **AVERAGE MANAGEMENT FEE RATE (%)** | **0.91%** | **0.98%** | **1.13%** |  | **0.90%** | **1.05%** |  |

---

**Fee Related Revenues** of R$32.6 million for the quarter ended June 30, 2025, up 28% year-over-year. The increase was supported by strong business momentum driven by catch-up fees from the final closing of VICC and inorganic growth. Fee Related Revenues were R$61.7 million for the year-to-date period ended June 30, 2025, up 26% when compared to the same period in 2024.

**Fee Related Earnings (FRE)** of R$15.5 million for the quarter ended June 30, 2025, up 25% year-over-year. FRE was R$27.2 million for the year-to-date period ended June 30, 2025, up 8% year-over-year.

**Segment Distributable Earnings** of R$30.8 million for the quarter ended June 30, 2025, up 25% year-over-year, driven by the recognition of performance fees from the FIP Infra Transmissão fund, which were initially booked as unrealized. This dynamic results on a neutral PRE as realized and unrealized performance fees offset each other, but a positive impact on Segment DE with Realized performance and GP Investment income. Segment DE was R$45.0 million for the year-to-date period ended June 30, 2025, up 12% year-over-year.

**AUM** of R$12.1 billion at the end of the third quarter, a 14% increase year-over-year. This segment encompasses Infrastructure, Real Estate, and Forestry strategies.

Earnings Release \| Vinci Compass 10

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

Corporate Advisory

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(R$ thousands, unless mentioned)** | **2Q'24** | **1Q'25** | **2Q'25** | **∆** **YoY (%)** | **2Q'24 YTD** | **2Q'25 YTD** | **∆** **YoY (%)** |
| Net revenue from management fees |  |  |  | N/A |  |  | N/A |
| Net revenue from advisory fees | 8760 | 457 | 8220 | (6)% | 18557 | 8677 | (53)% |
| Other revenues |  |  |  | N/A |  |  | N/A |
| **Total Fee Related Revenues** | **8760** | **457** | **8220** | **(6)%** | **18557** | **8677** | **(53)%** |
| Segment personnel expenses | (609) | (553) | (712) | 17% | (1162) | (1265) | 9% |
| Other G&A expenses | (285) | (134) | (284) | (0)% | (455) | (418) | (8)% |
| Placement fee amortization and rebates |  |  |  | N/A |  |  | N/A |
| Corporate center expenses | (1287) | (844) | (1061) | (18)% | (2342) | (1905) | (19)% |
| Bonus compensation related to management and advisory | (2768) | (167) | (2267) | (18)% | (5861) | (2433) | (58)% |
| **Total Fee Related Expenses** | **(4949)** | **(1697)** | **(4323)** | **(13)%** | **(9820)** | **(6020)** | **(39)%** |
| **FEE RELATED EARNINGS (FRE)** | **3810** | **(1240)** | **3897** | **2%** | **8737** | **2657** | **(70)%** |
| *FRE Margin (%)* | *43.5%* | *N/A* | *47.4%* |  | *47.1%* | *30.6%* |  |
| **SEGMENT DISTRIBUTABLE EARNINGS** | **3810** | **(1240)** | **3897** | **2%** | **8737** | **2657** | **(70)%** |
| *Segment DE Margin (%)* | *43.5%* | *N/A* | *47.4%* |  | *47.1%* | *30.6%* |  |
|  | **2Q'24** | **1Q'25** | **2Q'25** | **∆** **YoY (%)** | **2Q'24 YTD** | **2Q'25 YTD** | **∆** **YoY (%)** |
| **FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM)** |  |  |  | N/A |  |  | N/A |
| **AVERAGE MANAGEMENT FEE RATE (%)** | 8760 | 457 | 8220 | (6)% | 18557 | 8677 | (53)% |

---

**Fee Related Earnings (FRE)** of R$3.9 million for the quarter ended June 30, 2025, up 2% year-over-year. Deal activity began to pick up in the 2Q'25, following macroeconomic uncertainties in the first quarter. We anticipate continued improvement in the second half of the year. FRE was R$2.7 million for the year-to-date period ended June 30, 2025.

**Segment Distributable Earnings** of R$3.9 million for the quarter ended June 30, 2025, up 2% year-over-year.

Earnings Release \| Vinci Compass 11

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

**Income Statement**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **(R$ thousands, unless mentioned)** | **2Q'24** | **1Q'25** | **2Q'25** | **∆** **YoY (%)** | **2Q'24 YTD** | **2Q'25 YTD** | **∆** **YoY (%)** |
| **REVENUES** |  |  |  |  |  |  |  |
| Net revenue from management fees | 114134 | 195529 | 195569 | 71% | 210589 | 391098 | 86% |
| Net revenue from performance fees | 5613 | 3077 | 8342 | 49% | 7886 | 11419 | 45% |
| &nbsp;&nbsp;*Realized performance fees* | *9096* | *3077* | *17054* | *87%* | *11369* | *20131* | *77%* |
| &nbsp;&nbsp;*Unrealized performance fees* | *(3483)* | *–* | *(8711)* | *150%* | *(3483)* | *(8711)* | *150%* |
| Net revenue from advisory | 11481 | 24853 | 26220 | 128% | 21840 | 51073 | 134% |
| Other revenues | – | 11262 | 10944 | N/A | – | 22206 | N/A |
| **Total net revenues from services rendered** | **131228** | **234721** | **241075** | **84%** | **240315** | **475796** | **98%** |
| **OPERATING EXPENSES** |  |  |  |  |  |  |  |
| Bonus related to management and advisory | (23380) | (31744) | (33127) | 42% | (42128) | (64871) | 54% |
| Performance based compensation | (2503) | (1350) | (3683) | 47% | (3512) | (5033) | 43% |
| &nbsp;&nbsp;*Realized* | *(3736)* | *(1350)* | *(6766)* | *81%* | *(4745)* | *(8116)* | *71%* |
| &nbsp;&nbsp;*Unrealized* | *1233* | *–* | *3083* | *150%* | *1233* | *3083* | *150%* |
| **Total compensation and benefits** | **(25883)** | **(33094)** | **(36810)** | **42%** | **(45640)** | **(69904)** | **53%** |
| Segment personnel expenses | (7556) | (20125) | (20682) | 174% | (14893) | (40807) | 174% |
| Other general and administrative expenses | (6535) | (15431) | (17423) | 167% | (12030) | (32854) | 173% |
| Placement fee amortization and rebates | (490) | (21015) | (17792) | 3,531% | (991) | (38807) | 3816% |
| Corporate center expenses | (25750) | (77652) | (78484) | 205% | (46837) | (156136) | 233% |
| **Total expenses** | **(66214)** | **(167317)** | **(171191)** | **159%** | **(120391)** | **(338508)** | **181%** |
| **Operating profit** | **65014** | **67404** | **69884** | **7%** | **119924** | **137288** | **14%** |
| **OTHER GP AND FINANCIAM INCOME AND EXPENSES** |  |  |  |  |  |  |  |
| GP Investment income | 4250 | 4006 | 11064 | 160% | 17759 | 15070 | (15)% |
| &nbsp;&nbsp;*Realized gain from GP investment income* | *12379* | *4285* | *13576* | *10%* | *16785* | *17861* | *6%* |
| &nbsp;&nbsp;*Unrealized gain from GP investment income* | *(8128)* | *(279)* | *(2512)* | *(69)%* | *975* | *(2791)* | *N/A* |
| Financial income | 11421 | 14423 | 21804 | 91% | 23783 | 36227 | 52% |
| &nbsp;&nbsp;*Realized gain from financial income* | *11421* | *14423* | *21804* | *91%* | *23783* | *36227* | *52%* |
| &nbsp;&nbsp;*Unrealized gain from financial income* | *–* | *–* | *–* | *N/A* | *–* | *–* | *N/A* |
| Leasing expenses | (2076) | (3758) | (3722) | 79% | (4292) | (7480) | 74% |
| Other items | (21249) | (4458) | (5165) | (76)% | (36241) | (9623) | (73)% |
| Equity gain (loss) |  | (2201) | (3996) | N/A |  | (6197) | N/A |
| Share based plan | (5660) | (5003) | (6994) | 24% | (11808) | (11997) | 2% |
| Management contract amortization |  | (2870) | (3471) | N/A |  | (6341) | N/A |
| Extraordinary expenses | (11674) | (255) | (618) | (95)% | (13007) | (873) | (93)% |
| **Total Other items** | **(24988)** | **(116)** | **8902** | **N/A** | **(23806)** | **8786** | **N/A** |
| **Profit before income taxes** | **40026** | **67288** | **78785** | **97%** | **96118** | **146073** | **52%** |
| (-) Income taxes | (11679) | (11360) | (12012) | 3% | (22063) | (23372) | 6% |
| **NET INCOME** | **28347** | **55928** | **66773** | **136%** | **74055** | **122701** | **66%** |
| (+) Nonrecurring expenses (including Income Tax effect) | 11604 | 228 | 422 | (96)% | 12912 | 650 | (95)% |
| (-) Earn-out Adjust | 3870 | (8141) | (10851) | N/A | 7669 | (18992) | N/A |
| **ADJUSTED NET INCOME** | **43821** | **48015** | **56345** | **29%** | **94636** | **104360** | **10%** |

---

**Total net revenues from services rendered** of R$241.1 million for the quarter ended June 30, 2025, up 84% year-over-year. This growth was driven by stronger management and advisory fees in the period, primarily from the combination with Compass, additional to the acquisition of Lacan, combined with organic fundraising for VCP IV and VICC. Net revenues for the year-to-date period ended June 30, 2025, were R$475.8 million, representing a 98% increase when compared to the same period in 2024.

&nbsp;&nbsp;&nbsp;&nbsp;· **Management fee revenues** of R$195.6 million
for the quarter ended June 30, 2025, up 71% year-over-year. Management fees for the year-to-date period ended June 30, 2025, were R$391.1
million, up 86% when compared to the same period in 2024.

Earnings Release \| Vinci Compass 12

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;· **Performance fee revenues** of R$8.3 million
for the quarter ended June 30, 2025, up 49% year-over-year. Performance fee revenues for the year-to-date period ended June 30, 2025,
were R$20.1 million, up 77% when compared to the same period in 2024.

&nbsp;&nbsp;&nbsp;&nbsp;· **Advisory fee revenues** of R$26.2 million
for the quarter ended June 30, 2025, compared to R$11.5 million for the quarter ended June 28, 2024, an increase of 128% year-over-year,
driven by the contribution from the Compass combination in the Global IP&S segment. Advisory revenues for the year-to-date period
ended June 30, 2025, were R$51.1 million, up 134% when compared to the same period in 2024.

**Total expenses** for the quarter ended June 30, 2025, of R$171.2 million, compared to R$66.2 million for the quarter ended June 28, 2024, an increase of 159% year-over-year. Total expenses for the year-to-date period ended June 30, 2025, were R$338.5 million, up 181% when compared to the same period in 2024. This increase is primarily attributed to the combination with Compass and the acquisition of Lacan, with the additional management teams brought with the transactions. Additionally, after the combination with Compass, our expenses were impacted by a new line of costs for amortization of placement fees and rebates, which were not meaningful before the transaction and started to have a bigger contribution to our expenses, as it reflects fees paid to distributors that, due to accounting procedures, are not deducted directly from management fees.

&nbsp;&nbsp;&nbsp;&nbsp;· **Bonus related to management and advisory fees** of R$33.1 million for the quarter ended June 30, 2025, compared to R$23.4 million for the quarter ended June 28, 2024, a 42% increase
year-over-year. Bonus related to management and advisory fees for the year-to-date period ended June 30, 2025, was R$64.9 million, up
54% year-over-year.

&nbsp;&nbsp;&nbsp;&nbsp;· **Performance based compensation** of R$3.7
million for the quarter ended June 30, 2025, compared to R$2.5 million for the quarter ended June 28, 2024, an increase of 47% year-over-year.
Performance based compensation for the year-to-date period ended June 30, 2025, was R$5.0 million, up 43%.

&nbsp;&nbsp;&nbsp;&nbsp;· **Segment personnel expenses <sup>xvi</sup>** of R$20.7 million for the quarter ended June 30, 2025, compared to R$7.6 million for the quarter ended June 28, 2024, an increase of 174%
year-over-year. Segment personnel expenses for the year-to-date period ended June 30, 2025, were R$40.8 million, up 174%.

&nbsp;&nbsp;&nbsp;&nbsp;· **Corporate center expenses <sup>xvii</sup>** of R$78.5 million for the quarter ended June 30, 2025, compared to R$25.8 million for the quarter ended June 28, 2024, an increase of
205% year-over-year. Corporate center expenses for the year-to-date period ended June 30, 2025, were R$156.1 million, up 233%.

Earnings Release \| Vinci Compass 13

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;· **Other general and administrative expenses <sup>xviii</sup>** of R$17.4 million for the quarter ended June 30, 2025, compared to R$6.5 million for the quarter ended June 28, 2024, an increase of 167%
year-over-year. Other G&A expenses for the year-to-date period ended June 30, 2025, were R$32.9 million, up 173%

&nbsp;&nbsp;&nbsp;&nbsp;· **Placement fee amortization and rebates <sup>xix</sup>** of R$17.8 million for the quarter ended June 30, 2025, up 3,531% year-over-year. This line was introduced following the combination with
Compass and was not meaningful before the transaction, and it started to have a bigger contribution to our expenses, particularly in the
Credit and IP&S segments, as it reflects fees paid to distributors that, due to accounting procedures, are not deducted directly from
management fees. Placement fee amortization and rebates for the year-to-date period ended June 30, 2025, totaled R$38.8 million, up 3,816%
year-over-year.

**Operating profit** of R$69.9 million for the quarter ended June 30, 2025, compared to R$65.0 million for the quarter ended June 28, 2024, an increase of 7% year-over-year. Operating profit for the year-to-date period ended June 30, 2025, was R$137.3 million, up 14% compared to the same period in 2024.

**GP Investment income<sup>xx</sup>,** a result of the company's GP investments in its proprietary private market funds, was R$11.1 million for the quarter ended June 30, 2025, compared to R$4.3 million for the quarter ended June 28, 2024, an increase of 160% year-over-year. The increase was driven primarily by higher realized gains in the quarter, especially from one of our Infrastructure funds. GP Investment income for the year-to-date period ended June 30, 2025, totaled R$15.1 million, down 15% year-over-year.

**Financial income<sup>xxi</sup>** of R$21.8 million for the quarter ended June 30, 2025, compared to R$11.4 million for the quarter ended June 28, 2024, an increase of 91% year-over-year, mainly due to higher realized gains on financial investments. Financial income for the year-to-date period ended June 30, 2025, was R$36.2 million, up 52% year-over-year.

**Leasing expenses<sup>xxii</sup>** of R$3.7 million for the quarter ended June 30, 2025, compared to R$2.1 million for the quarter ended June 28, 2024, an increase of 79% year-over-year. Leasing expenses for the year-to-date period ended June 30, 2025, were R$7.5 million, up 74% year-over-year.

**Other items** of negative R$5.2 million for the quarter ended June 30, 2025, compared to negative R$21.2 million for the quarter ended June 28, 2024. This line comprises the income/(loss) generated by contingent consideration adjustment, financial income/(expenses) related to SPS and Compass acquisitions, Ares Convertible Preferred Shares, and other financial expenses.

**Share-based compensation<sup>xxiii</sup>** of R$7.0 million for the quarter ended June 30, 2025, compared to R$5.7 million for the quarter ended June 28, 2024, an increase of 24% year-over-year. Share-based compensation for the year-to-date period ended June 30, 2025, was R$12.0 million, up 2% year-over-year.

Earnings Release \| Vinci Compass 14

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

**Profit before income taxes** of R$78.8 million for the quarter ended June 30, 2025, compared to R$40.0 million in the same period of 2024, an increase of 97% year-over-year. Profit before income taxes for the year-to-date period ended June 30, 2025, was R$146.1 million, up 52% year-over-year.

**Income taxes<sup>xxiv</sup>** of R$12.0 million for the quarter ended June 30, 2025, which represented an effective tax rate of approximately 15%, compared to R$11.7 million for the quarter ended June 28, 2024. Income taxes for the year-to-date period ended June 30, 2025, were R$23.4 million, up 6% year-over-year.

**Non-operational expenses** of R$0.4 million for the quarter ended June 30, 2025. Non-operational expenses are comprised of expenses related to professional services rendered in connection with acquisitions.

**Contingent consideration adjustment related to acquisitions**, after tax, of negative R$10.9 million for the quarter ended June 30, 2025. Contingent consideration adjustment related to Vinci SPS and Compass' acquisitions reflects the change in earn out's fair value to be paid. On June 30, 2025, Vinci Compass revaluated the fair value of those obligations based on the economic conditions at the date, resulting in an increase of the contingent consideration fair value. The variation was recognized as a loss in the financial result.

**Adjusted net income** of R$56.3 million for the quarter ended June 30, 2025, compared to R$43.8 million for the quarter ended June 28, 2024, an increase of 29% year-over-year. Adjusted net income for the year-to-date period ended June 30, 2025, was R$104.4 million, up 10% year-over-year.

Earnings Release \| Vinci Compass 15

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

**Supplemental Details**

Assets Under Management (AUM) Rollforward

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | *For the Three Months Ended June 30, 2025* | *For the Three Months Ended June 30, 2025* | *For the Three Months Ended June 30, 2025* | *For the Three Months Ended June 30, 2025* | *For the Three Months Ended June 30, 2025* | *For the Three Months Ended June 30, 2025* |
| *<br> In R$ millions* | **Global IP&S** | **Credit** | **Private Equity** | **Equities** | **Real Assets** | **Total** |
| **Beginning balance** | **231924** | **29389** | **16481** | **14793** | **11965** | **304552** |
| (+/-) Capital Subscription / (capital return) | (2) | 121 | (161) |  | 23 | (18) |
| &nbsp;&nbsp;*(+) Capital Subscription* | *0* | *206* | *–* | *–* | *237* | *443* |
| &nbsp;&nbsp;*(-) Capital Return* | *(2)* | *(84)* | *(161)* | *–* | *(214)* | *(461)* |
| (+) Acquisitions |  |  |  |  |  |  |
| (+/-) Net Inflow / (outflow) | 2276 | 1442 |  | (505) | (17) | 3196 |
| (+/-) FX Variation | (10421) | (945) | (131) | (236) | (60) | (11793) |
| (+/-) Appreciation / (depreciation) | 6377 | 451 | (420) | 1500 | 213 | 8120 |
| **Ending balance** | **230155** | **30459** | **15769** | **15552** | **12123** | **304057** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | *For the Twelve Months Ended June 30, 2025* | *For the Twelve Months Ended June 30, 2025* | *For the Twelve Months Ended June 30, 2025* | *For the Twelve Months Ended June 30, 2025* | *For the Twelve Months Ended June 30, 2025* | *For the Twelve Months Ended June 30, 2025* |
| *<br> In R$ millions* | **Global IP&S** | **Credit** | **Private Equity** | **Equities** | **Real Assets** | **Total** |
| **Beginning balance** | **25057** | **8499** | **15524** | **9463** | **10669** | **69212** |
| (+/-) Capital Subscription / (capital return) | (10) | 2058 | 228 |  | (277) | 2000 |
| &nbsp;&nbsp;*(+) Capital Subscription* | *0* | *2595* | *463* | *–* | *349* | *3407* |
| &nbsp;&nbsp;*(-) Capital Return* | *(10)* | *(537)* | *(235)* | *–* | *(626)* | *(1408)* |
| (+) Acquisitions | 216007 | 18780 |  | 4355 | 2006 | 241147 |
| (+/-) Net Inflow / (outflow) | *(8171)* | *577* | *–* | *(191)* | *(35)* | *(7819)* |
| (+/-) FX Variation | *(11618)* | *(995)* | *(61)* | *(241)* | *(23)* | *(12938)* |
| (+/-) Appreciation / (depreciation) | *8890* | *1539* | *77* | *2166* | *(216)* | *12456* |
| **Ending balance** | **230155** | **30459** | **15769** | **15552** | **12123** | **304057** |

---

Earnings Release \| Vinci Compass 16

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

Fee-Earning Assets Under Management (FEAUM) Rollforward

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | *For the Three Months Ended June 30, 2025* | *For the Three Months Ended June 30, 2025* | *For the Three Months Ended June 30, 2025* | *For the Three Months Ended June 30, 2025* | *For the Three Months Ended June 30, 2025* | *For the Three Months Ended June 30, 2025* |
| *<br> In R$ millions* | **Global IP&S** | **Credit** | **Private Equity** | **Equities** | **Real Assets** | **Total** |
| **Beginning balance** | **230551** | **28764** | **13287** | **14739** | **11839** | **299180** |
| (+/-) Capital Subscription / (capital return) | (2) | 121 | (142) |  | 52 | 29 |
| &nbsp;&nbsp;*(+) Capital Subscription* | *–* | *206* | *–* | *–* | *237* | *443* |
| &nbsp;&nbsp;*(-) Capital Return* | *(2)* | *(84)* | *(142)* | *–* | *(185)* | *(414)* |
| (+) Acquisitions |  |  |  |  |  |  |
| (+/-) Net Inflow / (outflow) | 2241 | 1448 |  | (495) | (17) | 3177 |
| (+/-) FX Variation | (10395) | (925) | (131) | (235) | (60) | (11747) |
| (+/-) Appreciation / (depreciation) | 6379 | 500 | (303) | 1493 | 212 | 8281 |
| **Ending balance** | **228773** | **29908** | **12710** | **15502** | **12026** | **298920** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | *For the Twelve months Ended June 30, 2025* | *For the Twelve months Ended June 30, 2025* | *For the Twelve months Ended June 30, 2025* | *For the Twelve months Ended June 30, 2025* | *For the Twelve months Ended June 30, 2025* | *For the Twelve months Ended June 30, 2025* |
| *<br> In R$ millions* | **Global IP&S** | **Credit** | **Private Equity** | **Equities** | **Real Assets** | **Total** |
| **Beginning balance** | **24845** | **8311** | **12385** | **9426** | **10625** | **65592** |
| (+/-) Capital Subscription / (capital return) | (10) | 2060 | 247 |  | (248) | 2049 |
| &nbsp;&nbsp;*(+) Capital Subscription* | *–* | *2595* | *463* | *–* | *349* | *3407* |
| &nbsp;&nbsp;*(-) Capital Return* | *(10)* | *(535)* | *(216)* | *–* | *(597)* | *(1358)* |
| (+) Acquisitions | 215477 | 18340 |  | 4316 | 2006 | 240138 |
| (+/-) Net Inflow / (outflow) | *(8252)* | *645* | *–* | *(162)* | *(35)* | *(7804)* |
| (+/-) FX Variation | *(11591)* | *(974)* | *(61)* | *(240)* | *(23)* | *(12888)* |
| (+/-) Appreciation / (depreciation) | *8304* | *1527* | *139* | *2161* | *(298)* | *11834* |
| **Ending balance** | **228773** | **29908** | **12710** | **15502** | **12026** | **298920** |

---

Earnings Release \| Vinci Compass 17

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

Investment Records – IP&S, Public Equities, Private Credit and Listed Funds

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund** | **Segment** | **NAV<sup>xxv</sup> (R$ millions)** | **2Q'25** | **YTD** | **12 M** | **24 M** | **Market Comparison** | **Index Rate** |
| Vinci Total Return | Equities | 246.0 | 17.0% | 22.6% | 15.3% | 19.0% | IPCA + Yield IMA-B | IPCA + Yield IMA-B |
| Mosaico Strategy | Equities | 847.6 | 11.1% | 19.3% | 10.3% | 14.0% | IBOV | IBOV |
| Vinci Gas Dividendos FIA | Equities | 338.1 | 9.1% | 17.5% | 13.6% | 18.2% | IBOV | IBOV |
| Compass CRECE+ | Equities | 170.5 | 11.9% | 19.8% | 25.4% | 23.7% | S&P/BMV IPC | N/A |
| Compass Crecimiento | Equities | 348.2 | (17.0)% | (22.5)% | 23.2% | 351.6% | S&P MERVAL | N/A |
| Compass Small Cap Chile | Equities | 1479.8 | 7.9% | 30.3% | 23.6% | 40.4% | N/A | N/A |
| Vinci Crédito Imobiliário II | Credit | 721.9 | 4.7% | 8.4% | 10.3% | 15.9% | IPCA | IPCA + 6% |
| Vinci Energia Sustentável | Credit | 543.1 | 4.0% | 7.4% | 8.6% | 16.9% | IPCA | IPCA + 6% |
| Vinci Crédito Multiestratégia | Credit | 323.3 | 4.4% | 8.4% | 12.6% | 24.8% | CDI | IPCA + 5% |
| Compass Latam Corporate Debt Fund | Credit | 4301.0 | 1.9% | 4.9% | 9.1% | 20.6% | CEMBI Broad Div | N/A |
| Compass Latam High Yield USD | Credit | 1773.8 | 1.4% | 4.0% | 9.8% | 24.5% | CEMBI Broad Div HY | N/A |
| Compass I+LIQG | Credit | 1933.1 | 2.3% | 4.8% | 10.7% | 23.8% | PIP Cetes 28D | N/A |
| Compass Credit Selection | Credit | 820.5 | 3.6% | 7.1% | 12.8% | 29.4% | CDI | N/A |
| Compass Yield 30 | Credit | 2032.8 | 3.5% | 7.2% | 13.2% | 31.1% | CDI | CDI |
| Compass Deuda Plus | Credit | 438.0 | 1.5% | 4.1% | 10.5% | 17.7% | N/A | N/A |
| Compass Renta Fija-B | Credit | 753.8 | 1.3% | 3.1% | 4.9% | 9.2% | CEMBI Broad Div | N/A |
| Vinci Multiestratégia FIM | Global IP&S | 99.2 | 2.8% | 5.7% | 10.7% | 20.4% | CDI | CDI |
| Atlas Strategy | Global IP&S | 212.5 | 2.7% | 4.4% | 12.1% | 18.0% | CDI | CDI |
| Vinci Valorem FIM | Global IP&S | 839.9 | 2.4% | 4.4% | 8.7% | 16.4% | IMA-B | IMA-B |
| Equilibrio Strategy | Global IP&S | 887.0 | 1.4% | 2.8% | 6.4% | 13.1% | IPCA | N/A |
| Vinci Retorno Real FIM | Global IP&S | 85.9 | (0.2)% | 1.5% | 4.4% | 10.2% | IMA-B | IMA-B |
| VISC11 | Real Assets (listed REIT) | 2987.8 | 2.5% | 12.0% | (2.2)% | 5.6% | IFIX | IPCA + 6% |
| VILG11 | Real Assets (listed REIT) | 1287.2 | 5.6% | 20.9% | 13.0% | (8.1)% | IFIX | IPCA + 6% |
| VINO11 | Real Assets (listed REIT) | 417.9 | (0.6)% | 9.2% | (17.8)% | (33.1)% | IFIX | IPCA + 6% |
| VIUR11 | Real Assets (listed REIT) | 154.7 | 11.4% | 3.8% | (0.8)% | (12.4)% | IFIX | IPCA + 6% |
| VCRI11 | Real Assets (listed REIT) | 132.6 | 9.1% | 20.1% | 0.1% | 13.9% | IFIX | IPCA + X% |
| VICA11 | Real Assets (REIT) | 387.9 | 1.1% | 2.3% | 3.1% | 3.6% | IFIX | CDI + 1% |
| VINCI FOF IMOBILIARIO FIM CP | Real Assets (REIT) | 48.7 | 4.5% | 9.1% | 6.3% |  | IFIX | IFIX |
| VIGT11 | Real Assets (listed REIT) | 314.9 | (0.6)% | 27.1% | (42.3)% | (42.8)% | N/A | N/A |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Benchmark** | **2Q'25** | **YTD** | **12 M** | **24 M** |
| CDI<sup>xxvi</sup> | 3.3% | 6.4% | 12.1% | 25.2% |
| IMA-B 5<sup>xxvii</sup> | 2.8% | 6.0% | 9.0% | 17.9% |
| IPCA<sup>xxviii</sup> | 0.9% | 3.0% | 5.4% | 9.8% |
| IFIX<sup>xxix</sup> | 5.2% | 11.8% | 4.1% | 10.4% |
| IPCA + Yield IMA-B | 2.9% | 6.8% | 12.7% | 24.2% |
| IBOV<sup>xxx</sup> | 6.6% | 15.4% | 12.1% | 17.6% |
| S&P/BMV IPC<sup>xxxi</sup> | 11.6% | 18.6% | 13.6% | 14.9% |
| S&P MERVAL<sup>xxxii</sup> | (14.7)% | (21.3)% | 23.7% | 362.4% |
| CEMBI Broad Div<sup>xxxiii</sup> | 1.6% | 4.3% | 8.5% | 20.6% |
| CEMBI Broad Div HY<sup>xxxiv</sup> | 1.4% | 3.9% | 9.2% | 25.1% |
| PIP Cetes 28D<sup>xxxv</sup> | 2.2% | 4.7% | 10.3% | 23.2% |

---

Earnings Release \| Vinci Compass 18

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

---

Investment Records – Closed End Private Markets funds<sup>xxxvi</sup>

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund** | **Segment** <br>| **Vintage year** | **Committed Capital** <br> **(R$mm)** | **Invested Capital** <br> **(R$mm)** | **Realized or Partially**<br> **Realized** <br> **(R$mm)** | **Unrealized** <br> **(R$mm)** | **Total** <br> **Value**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(R$mm** | **Gross MOIC**<sup>xxxvii</sup> <br> **(BRL)** | **Gross** <br> **MOIC**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **(USD)** | **Gross** <br> **IRR**<sup>xxxviii</sup><br> **(BRL)** | **Gross IRR**<br> **(USD)** |
| Fund 1 | Private Equity | 2004 | 1415 | 1206 | 5131 | 79 | 5210 | 4.3x | 4.0x | 71.5% | 77.2% |
| VCP II | Private Equity | 2011 | 2200 | 2063 | 1865 | 2046 | 3910 | 1.9x | 1.0x | 8.7% | -0.4% |
| VCP III | Private Equity | 2018 | 4000¹³ | 2501 | 287 | 5174 | 5461 | 2.1x | 2.1x | 25.5% | 24.0% |
| VCP IV | Private Equity | 2022 | 3879¹³ | 793 |  | 1027 | 1027 | 1.2x | 1.2x | NM | NM |
| VCP Strategy<sup>xxxix</sup> | Private Equity |  | **9526** | **6563** | **7282** | **8326** | **15608** | **2.3x** | **2.1x** | **64.6%** | **70.2%** |
| NE Empreendedor<sup>xl</sup> | Private Equity | 2003 | 36 | 13 | 26 |  | 26 | 2.1x | 2.6x | 22.0% | 30.5% |
| Nordeste III | Private Equity | 2017 | 240 | 135 | 98 | 223 | 321 | 2.4x | 1.8x | 21.7% | 14.2% |
| VIR IV | Private Equity | 2020 | 1000 | 728 | 167 | 757 | 923 | 1.4x | 1.3x | 21.5% | 19.4% |
| VIR Strategy<sup>xli</sup> | Private Equity |  | **1276** | **875** | **291** | **980** | **1271** | **1.5x** | **1.5x** | **21.8%** | **26.2%** |
| SPS I | Credit | 2018 | 128 | 206 | 311 | 51 | 362 | 2.3x | 1.8x | 24.9% | 18.3% |
| SPS II | Credit | 2020 | 671 | 1062 | 1088 | 583 | 1670 | 2.2x | 2.2x | 22.7% | 22.7% |
| SPS III | Credit | 2021 | 1071 | 1504 | 646 | 1369 | 2015 | 2.4x | 2.3x | 24.7% | 22.2% |
| SPS IV | Credit | 2025 | 1073 | 63 |  | 63 | 63 | NM | NM | NM | NM |
| SPS Strategy<sup>xlii</sup> | Credit |  | **2943** | **2835** | **2045** | **2066** | **4111** | **2.3x** | **2.2x** | **23.7%** | **21.8%** |
| MAV I | Credit | 2022 | 165 | 165 | 152 | 87 | 239 | 1.4x | 1.4x | 18.8% | 20.1% |
| MAV II | Credit | 2023 | 205 | 205 | 36 | 207 | 243 | 1.2x | 1.3x | 18.5% | 11.2% |
| MAV III | Credit | 2025 | 220 | 60 | 2 | 63 | 65 | NM | NM | NM | NM |
| MAV Strategy<sup>xliii</sup> | Credit |  | **590** | **431** | **190** | **356** | **547** | **1.3x** | **1.3x** | **18.6%** | **15.2%** |
| Lacan Florestal I | Real Assets | 2012 | 253 | 253 | 255 | 323 | 579 | 2.3x | 1.3x | 11.4% | 2.8% |
| Lacan Florestal II | Real Assets | 2016 | 356 | 356 | 125 | 593 | 718 | 2.0x | 1.5x | 12.5% | 6.9% |
| Lacan Florestal III | Real Assets | 2020 | 501 | 390 |  | 530 | 530 | 1.4x | 1.3x | 12.5% | 9.3% |
| Lacan Florestal IV | Real Assets | 2023 | 172 | 109 |  | 126 | 126 | 1.2x | 1.2x | 20.4% | 21.3% |
| Lacan Strategy<sup>xliv</sup> | Real Assets |  | **1281** | **1108** | **380** | **1572** | **1952** | **1.8x** | **1.3x** | **12.0%** | **5.2%** |
| FIP Transmissão<sup>xlv</sup> | Real Assets | 2017 | 211 | 104 | 289 | 90 | 379 | 3.7x | 2.7x | 56.6% | 40.7% |
| VIAS<sup>xlvi</sup> | Real Assets | 2021 | 386 | 350 |  | 512 | 512 | 1.5x | 1.3x | 18.1% | 12.9% |
| VICC<sup>xlvii</sup> | Real Assets | 2022 | 1784 | 151 |  | 151 | 151 | 1.0x | 1.0x | NM | NM |
| VFDL<sup>xlviii</sup> | Real Assets | 2021 | 422 | 331 | 16 | 373 | 389 | 1.2x | 1.1x | 9.6% | 6.8% |
| Vinci Credit Infra<sup>xlix</sup> | Credit | 2022 | 1848 | 1250 | 42 | 1351 | 1393 | 1.2x | 1.2x | NM | NM |

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Earnings Release \| Vinci Compass 19

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

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Shareholder Dividends & Share Summary

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **($ in thousands)** | **3Q'23** | **4Q'23** | **1Q'24** | **2Q'24** | **3Q'24** | **4Q'24** | **1Q'25** | **2Q'25** |
| Adjusted Distributable Earnings (R$) | 51820 | 63641 | 49605 | 58401 | 57104 | 73946 | 62306 | 75760 |
| Adjusted Distributable Earnings (US$)<sup>l</sup> | 10647 | 12829 | 9801 | 10331 | 9872 | 12804 | 11027 | 13964 |
| Adjusted DE per Common Share (US$)<sup>li</sup> | 0.20 | 0.24 | 0.18 | 0.19 | 0.19 | 0.20 | 0.17 | 0.22 |
| **Actual Dividend per Common Share<sup>lii</sup>** | **0.17** | **0.20** | **0.17** | **0.17** | **0.16** | **0.15** | **0.15** | **0.15** |
| **VINP Shares** | **3Q'23** | **4Q'23** | **1Q'24** | **2Q'24** | **3Q'24** | **4Q'24** | **1Q'25** | **2Q'25** |
| Shares Repurchased |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;# of Shares | 705518 | 93249 | 533981 | 220135 | 374834 | 607643 | 683148 | 173762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Cost (US$/share) | 10.14 | 10.50 | 10.64 | 10.82 | 10.38 | 10.28 | 10.07 | 9.47 |
| Capital Deployed (US$) | 7150845 | 979137 | 5681558 | 2382251 | 3890849 | 6246577 | 6879698 | 1645210 |
| Class B | 14466239 | 14466239 | 14466239 | 14466239 | 14466239 | 14466239 | 14466239 | 14466239 |
| Class A<sup>liii</sup> | 39405827 | 39312578 | 38778597 | 38779209 | 38404375 | 49580116 | 48896968 | 48778420 |
| **Common Shares** | **53872066** | **53778817** | **53244836** | **53245448** | **52870614** | **64046355** | **63363207** | **63244659** |

---

Vinci Compass generated R$1.20 or US$0.22 of Adjusted Distributable Earnings per common share for the second quarter of 2025. The company declared a quarterly dividend of US$0.15 per common share to record holders as of August 22, 2025; payable on September 09, 2025.

Common Shares Outstanding as of quarter end of 63,244,659 shares.

&nbsp;&nbsp;&nbsp;&nbsp;· Repurchased 173,762 common shares in the quarter, with an average share price of US$10.07.

&nbsp;&nbsp;&nbsp;&nbsp;· Repurchased 6,150,507 common shares since the announcement of the first share repurchase plan, with an
average share price of US$10.53.

&nbsp;&nbsp;&nbsp;&nbsp;· As of June 30, 2025, there was no remaining authorization for the share repurchase plan.

Earnings Release \| Vinci Compass 20

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

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**Reconciliation and Disclosures**

Non-GAAP Reconciliation

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **(R$ thousands, unless mentioned)** | **2Q'24** | **1Q'25** | **2Q'25** | **2Q'24 YTD** | **2Q'25 YTD** |
| **OPERATING PROFIT** | **65014** | **67404** | **69884** | **119924** | **137288** |
| (-) Net revenue from realized performance fees | (9096) | (3077) | (17054) | (11369) | (20131) |
| (-) Net revenue from unrealized performance fees | 3483 |  | 8711 | 3483 | 8711 |
| (+) Compensation allocated in relation to performance fees | 2503 | 1350 | 3683 | 3512 | 5033 |
| **FEE RELATED EARNINGS (FRE)** | **61904** | **65677** | **65224** | **115550** | **130901** |
| **OPERATING PROFIT** | **65014** | **67404** | **69884** | **119924** | **137288** |
| (-) Net revenue from management fees | (114134) | (195529) | (195569) | (210589) | (391098) |
| (-) Net revenue from advisory | (11481) | (24853) | (26220) | (21840) | (51073) |
| (-) Other revenues |  | (11262) | (10944) |  | (22206) |
| (+) Bonus related to management and advisory | 23380 | 31744 | 33127 | 42128 | 64871 |
| (+) Personnel expenses | 7556 | 20125 | 20682 | 14893 | 40807 |
| (+) Other general and administrative expenses | 6535 | 15431 | 17423 | 12030 | 32854 |
| (+) Placement fee amortization and rebates | 490 | 21015 | 17792 | 991 | 38807 |
| (+) Corporate center expenses | 25750 | 77652 | 78484 | 46837 | 156136 |
| **PERFORMANCE RELATED EARNINGS (PRE)** | **3110** | **1727** | **4660** | **4374** | **6387** |
| **OPERATING PROFIT** | **65014** | **67404** | **69884** | **119924** | **137288** |
| (-) Net revenue from unrealized performance fees | 3483 |  | 8711 | 3483 | 8711 |
| (+) Compensation allocated in relation to unrealized performance fees | (1233) |  | (3083) | (1233) | (3083) |
| (+) Realized gain from GP investment income | 12379 | 4285 | 13576 | 16785 | 17861 |
| **SEGMENT DISTRIBUTABLE EARNINGS** | **79643** | **71689** | **89088** | **138959** | **160777** |
| **NET INCOME** | **28347** | **55928** | **66773** | **74055** | **122701** |
| (-) Net revenue from unrealized performance fees | 3483 |  | 8711 | 3483 | 8711 |
| (+) Income tax from unrealized performance fees | (401) |  | (1004) | (401) | (1004) |
| (+) Compensation allocated in relation to unrealized performance fees | (1233) |  | (3083) | (1233) | (3083) |
| (-) Unrealized gain from GP investment income | 8128 | 279 | 2512 | (975) | 2791 |
| (+) Income tax on unrealized gain from GP investment income | (987) | 694 | (2672) | (704) | (1978) |
| (-) Unrealized gain from financial income | 0 |  |  | 0 |  |
| (+) Income tax on unrealized gain from financial income |  |  |  |  |  |
| (-) Contingent consideration (earn-out) gain (loss)<sup>liv</sup> | 5863 | (9546) | (12932) | 11619 | (22478) |
| (+) Income tax on contingent consideration | (1993) | 1405 | 2081 | (3950) | 3486 |
| (+) Depreciation and amortization | 1873 | 6231 | 6250 | 3764 | 12481 |
| (+) Equity-based compensation | 3529 | 5003 | 4333 | 9677 | 9336 |
| (-) Income Taxes on Equity-based compensation | 188 | (117) | 371 | (241) | 254 |
| (+) Equity gain (loss) |  | 2201 | 3996 |  | 6197 |
| (+) Non-operational expenses including income tax related to realized expense<sup>lv</sup> | 11604 | 228 | 422 | 12912 | 650 |
| **ADJUSTED DISTRIBUTABLE EARNINGS** | **58401** | **62306** | **75759** | **108006** | **138065** |
| **TOTAL NET REVENUE FROM SERVICES RENDERED** | **131228** | **234721** | **241075** | **240315** | **475796** |
| (-) Net revenue from realized performance fees | (9096) | (3077) | (17054) | (11369) | (20131) |
| (-) Net revenue from unrealized performance fees | 3483 |  | 8711 | 3483 | 8711 |
| **NET REVENUE FROM MANAGEMENT FEES AND ADVISORY** | **125615** | **231644** | **232733** | **232429** | **464377** |

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Earnings Release \| Vinci Compass 21

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

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Balance Sheet Results

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| | | |
|:---|:---|:---|
| **Assets** | **3/31/2025** | **6/30/2025** |
| **Current assets** |  |  |
| Cash and cash equivalents | 163782 | 189190 |
| *Cash and bank deposits* | *126844* | *100449* |
| *Financial instruments at fair value through profit or loss* | *36938* | *58148* |
| *Financial instruments at amortized cost* | &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;- | 30593 |
| Financial instruments at fair value through profit or loss | 1488809 | 1449809 |
| Trade receivables | 162569 | 189754 |
| Sub-leases receivable | 1770 | 645 |
| Taxes recoverable | 11200 | 11614 |
| Other assets | 66398 | 57596 |
| Total current assets | **1894528** | **1898608** |
| **Non-current assets** |  |  |
| Financial instruments at fair value through profit or loss | 127710 | 135644 |
| Financial instruments at amortized cost | 6334 | 6036 |
| Trade receivables | 15603 | 6024 |
| Sub-leases receivable | 3910 | 3749 |
| Taxes recoverable | 3969 | 3887 |
| Deferred taxes | 29889 | 29254 |
| Other receivables | 40287 | 39323 |
|  | **227702** | **223917** |
| Investments accounted for using the equity method | 53781 | 55455 |
| Property and equipment | 60279 | 65274 |
| Right of use - Leases | 135768 | 126571 |
| Intangible assets | 1054859 | 1052105 |
| **Total non-current assets** | **1532389** | **1523322** |
| **Total Assets** | **3426917** | **3421930** |

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Earnings Release \| Vinci Compass 22

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|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

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| | | |
|:---|:---|:---|
| **Liabilities and equity** | **3/31/2025** | **6/30/2025** |
| **Current liabilities** |  |  |
| Trade payables | 12290 | 9366 |
| Financial instruments at fair value through profit or loss | 11786 | 16106 |
| Deferred Revenue | 15514 |  |
| Leases | 35031 | 31804 |
| Accounts payable | 36792 | 35231 |
| Labor and social security obligations | 62645 | 100640 |
| Loans and Financing | 27632 | 25786 |
| Taxes and contributions payable | 26264 | 23255 |
| Total current liabilities | **227954** | **242188** |
| **Non-current liabilities** |  |  |
| Leases | 116025 | 110631 |
| Labor and social security obligations | 8658 | 6319 |
| Loans and Financing | 763298 | 722617 |
| Deferred taxes | 5237 | 2839 |
| Retirement plans liabilities | 416135 | 454387 |
|  | **1309353** | **1296793** |
| **Total liabilities** | **1537307** | **1538981** |
| **Equity** |  |  |
| Share capital | 18 | 18 |
| Additional paid-in capital | 2097712 | 2094601 |
| Treasury shares | (300082) | (306608) |
| Retained Earnings | 87214 | 101177 |
| Other reserves | 5717 | (4443) |
|  | **1890579** | **1884745** |
| Non-controlling interests in the equity of subsidiaries | (969) | (1796) |
| **Total equity** | **1889610** | **1882949** |
| **Total liabilities and equity** | **3426917** | **3421930** |

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Earnings Release \| Vinci Compass 23

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

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**Forward-Looking Statements**

This earnings release contains forward-looking statements that can be identified by the use of words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "estimate" and "potential," among others. By their nature, forward-looking statements are necessarily subject to a high degree of uncertainty and involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside of our control. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements and there can be no assurance that such forward-looking statements will prove to be correct. The forward-looking statements included herein speak only as at the date of this press release and we do not undertake any obligation to update these forward-looking statements. Past performance does not guarantee or predict future performance. Moreover, neither we nor our affiliates, officers, employees and agents undertake any obligation to review, update or confirm expectations or estimates or to release any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release. Further information on these and other factors that could affect our financial results is included in filings we have made and will make with the U.S. Securities and Exchange Commission from time to time.

<sup>i</sup> "Fee Related Revenues" is a measure that we use to assess our ability to generate profits from our fund management and advisory business without measuring for the outcomes from funds above their respective benchmarks. We calculate Net Revenue from Fund Management and Advisory as net revenue from services rendered less (a) net revenue from realized performance fees and less (b) net revenue from unrealized performance fees.

<sup>ii</sup> "Fee related earnings", or "FRE", is a metric to monitor the baseline performance of, and trends in, our business, in a manner that does not include performance fees, investment income and expenses that do not arise from our normal course of operations. FRE is calculated as operating profit, less (a) net revenue from realized performance fees, less (b) net revenue from unrealized performance fees, plus (c) share-based payments plus (d) compensation allocated in relation to performance fees plus (e) non-operational expenses, which are comprised of expenses relating to professional services rendered in connection with acquisitions and our international corporate organization.

<sup>iii</sup> "FRE Margin" is calculated as FRE divided by the sum of net revenue from fund management and net revenue from advisory services.

<sup>iv</sup> "FRE per share" is calculated considering the number of outstanding shares at the end of the current quarter. Last twelve months values are calculated as the sum of the last four quarters.

<sup>v</sup> "Performance Related Earnings", or "PRE", is a performance measure that we use to assess our ability to generate profits from revenue that relies on outcomes from funds above their respective benchmarks. We calculate PRE as operating profit less (a) net revenue from fund management, less (b) net revenue from advisory services, plus (c) personnel and profit-sharing expenses, plus (d) other general and administrative expenses, less (e) compensation in relation to performance fees.

Earnings Release \| Vinci Compass 24

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

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<sup>vi</sup> "PRE Margin" is calculated as PRE divided by net revenue from performance fees.

<sup>vii</sup> "Segment Distributable Earnings" is Vinci Partners' segment profitability measure used to make operating decisions and assess performance across the company's five segments (Private Markets, Public Equities, Investment Products and Solutions, Retirement Services and Corporate Advisory). Segment Distributable Earnings is calculated as operating profit less (a) net revenue from unrealized performance fees, plus (b) compensation allocated in relation to unrealized performance fees, plus (c) realized gain from GP investment income.

<sup>viii</sup> "Other items" comprise the income/(loss) generated by financial income/(expenses) related to acquisitions, Ares Convertible Preferred Shares and other financial expenses.

<sup>ix</sup> "Non-operational expenses" are composed by expenses related to professional services to matters related to acquisitions.

<sup>x</sup> "Distributable Earnings", or "DE", is used as a reference point by our board of directors to assess our performance and capabilities to distribute dividends to our shareholders. Distributable Earnings is calculated as profit for the year, less (a) net revenue from unrealized performance fees, plus (b) income taxes from unrealized performance fees, plus (c) compensation allocated in relation to unrealized performance fees, less (d) unrealized gain from investment income, plus (e) income taxes on unrealized gain from investment income, plus (f) share-based payments, plus (g) income taxes on share-based payments, plus (h) depreciation and amortization, except for depreciation and amortization relating to each segment's investments, less (i) contingent consideration (earn-out) gain (loss) (after tax).

<sup>xi</sup> "DE Margin" is calculated as Distributable Earnings divided by sum of net revenue from fund management, net revenue from performance fees, net revenue from advisory services, net revenue from other revenues and realized gain from investment income.

<sup>xii</sup> "Adjusted Distributable Earnings", or "Adjusted DE", is used as a reference point by our board of directors for determining the amount of earnings available to distribute to shareholders as dividends. Adjusted Distributable Earnings is calculated as Distributable Earnings, plus expenses relating to professional services rendered in connection with acquisitions, our business combination with Compass and our international corporate organization (including income tax related to realized expense).

<sup>xiii</sup> "Adjusted DE Margin" is calculated as Adjusted Distributable Earnings divided by the sum of net revenue from fund management, net revenue from performance fees, net revenue from advisory services, net revenue from other revenues and realized gain from investment income.

<sup>xiv</sup> "Adjusted DE per share" is calculated considering the number of outstanding shares at the end of the current quarter. Last twelve months values are calculated as the sum of the last four quarters.

<sup>xv</sup> "AUM" refers to assets under management and advisory. Our AUM equals the sum of: (1) the fair market value of all funds and accounts under management and advisory by Vinci Compass, across Global IP&S, Credit, Private Equity, Equities, and Real Assets; (2) the capital that we are entitled to call from investors in funds pursuant to the terms of their capital commitments to those funds; and (3) the fair market value of co-investments arranged by us that were made, or could be made, by limited partners of our corporate private equity funds and portfolio companies of such funds. As a significant portion of our AUM is denominated in currencies other than Brazilian Reais, fluctuations in foreign exchange rates may cause our reported AUM to vary over time, independently of underlying asset or commitment changes. AUM includes double counting related to funds from one segment that invest in funds from another segment. Those cases occur mainly due to (a) fund, of funds of investment products and solutions segment, and (b) investment funds in general that invest part of their cash in credit segment and hedge fund segment funds in order to maintain liquidity and provide for returns on cash. Such amounts are eliminated on consolidation. The bylaws of the relevant funds prohibit double-charging fees on AUM across segments. Therefore, while our AUM by segment may double-count funds from one segment that invest in funds from another segment, the revenues for any given segment do not include revenue in respect of assets managed by another segment, which means there are no intercompany eliminations on revenues in our results of operations.

Earnings Release \| Vinci Compass 25

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

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<sup>xvi</sup> "Segment personnel expenses" are composed of the salary-part compensation paid to employees and partners of our funds' management teams.

<sup>xvii</sup> "Corporate center expenses" are composed by the salary-compensation paid to employees and partners of our support teams and other expenses, such as research, risk, legal & compliance, investor relations, operations and ESG.

<sup>xviii</sup> "Other general and administrative expenses" is made up of third-party expenses, depreciation and amortization, travel and representation, marketing expenses, administrative fees, non-operating taxes, third-party consultants' fees, such as legal and accounting, and office consumables.

<sup>xix</sup> "Placement fee amortization and rebates" reflects fees paid to distributors that, due to accounting procedures, are not deducted from net management fees, unlike certain other distributor fees that directly impact that line.

<sup>xx</sup> "GP investment income" is income from proprietary investments made by us in our own Private Markets' funds, used as GP Commitments.

<sup>xxi</sup> "Financial income" is income generated through the investments made with our cash and cash equivalents in cash and bank deposits, certificate of deposits and proprietary investments in our Liquid Funds from our public equities and hedge funds' segments.

<sup>xxii</sup> "Leasing expenses" include costs from the company's sub-leasing activities.

<sup>xxiii</sup> "Share Based Plan" is the composition of two benefit programs: SOP (Stock Option Plan) and RSU (Restricted Stock Units). In Stock Option Plan the company concedes to an employee the option to buy stock in the company with stated fixed price. The Restricted Stock Units concedes company shares to an employee through a vesting plan in which RSUs are assigned a fair market value.

<sup>xxiv</sup> Income taxes is comprised of taxes on our corporate income tax and social contribution taxes. We are taxed on an actual taxable profit regime, while part of our subsidiaries is taxed based on deemed profit.

<sup>xxv</sup> NAV is the net asset value of each fund. For listed vehicles, the NAV represents the Market valuation of the fund ex-dividends.

<sup>xxvi</sup> CDI is an average of interbank overnight rates in Brazil (daily average for the period).

<sup>xxvii</sup> IMAB is composed by government bonds indexed to IPCA. IMAB 5 also includes government bonds indexed to IPCA with up to 5 Years in duration.

Earnings Release \| Vinci Compass 26

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

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<sup>xxviii</sup> IPCA is a broad consumer price index measured by the IBGE.

<sup>xxix</sup> IFIX is an index composed by listed REITs in the Brazilian stock Market.

<sup>xxx</sup> Brazil stock market most relevant index.

<sup>xxxi</sup> S&P/BMV IPC seeks to measure the performance of the largest and most liquid stocks listed on the Mexican Stock Market.

<sup>xxxii</sup> S&P MERVAL Index, Argentina's flagship index, seeks to measure the performance of the largest, most liquid stocks trading on the Argentinian Stock Market.

<sup>xxxiii</sup> CEMBI Broad Div tracks the performance of US dollar-denominated bonds issued by emerging market corporate entities.

<sup>xxxiv</sup> The J.P. Morgan CEMBI Broad Diversified HY index tracks liquid, US Dollar emerging market fixed and floating-rate debt instruments issued by corporate, sovereign, and quasi-sovereign entities.

<sup>xxxv</sup> PiP Cetes 28d is an index that invests in Cetes 28-day securities. Cetes are Treasury Certificates issued by the Mexican government.

<sup>xxxvi</sup> Track record information is presented throughout this release on a pro forma basis and in local currency, excluding PIPE investments, a strategy that will be discontinued in VCP III.

<sup>xxxvii</sup> "MOIC" means multiple on invested capital, a ratio intended to represent how much value an investment has returned, and is calculated as realized value plus unrealized value, divided by the total amount invested, gross of expenses and fees.

<sup>xxxviii</sup> "IRR" means the internal rate of return, which is a discount rate that makes the net present value of all cash flows equal to zero in a discounted cash flow analysis.

<sup>xxxix</sup> Total commitments for VCP III include R$1.3 billion in co-investments. Track record presented for the VCP strategy as of 1Q'25, due to fund's administrator timeline to disclose the quarterly markup of the fund.

<sup>xl</sup> Performance information for Nordeste Empreendedor ("NE I") comprises only the four (out of seven) investments invested, managed and divested by a team led by Jose Pano (collectively, the "Participating Investments") while they were employed by NE I's manager (the "NE I Manager"), an entity not affiliated with the manager or Vinci Partners. Information herein pertaining to any investments made by NE I manager has not been prepared by NE I manager and NE I manager assumes no responsibility for the accuracy or completeness of any such information.

<sup>xli</sup> Track record for VIR strategy is presented as of 1Q'25, due to fund's administrator timeline to disclose the quarterly markup of the fund.

<sup>xlii</sup> Track record for Vinci SPS strategy is presented as of 2Q'25.

<sup>xliii</sup> Track record for MAV strategy is presented as of 2Q'25.

Earnings Release \| Vinci Compass 27

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>**2Q'25 Earnings Release**<br>August 12<sup>th</sup>, 2025<br>| ![](image_015.jpg) |

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<sup>xliv</sup> Track record for Lacan strategy is presented as of 2Q'25.

<sup>xlv</sup> Track record for FIP Infra is presented as of 1Q'25.

<sup>xlvi</sup> Track record for VIAS is presented as of 1Q'25.

<sup>xlvii</sup> Total commitments for VICC are presented as of 1Q'25.

<sup>xlviii</sup> Track record for VFDL is presented as of 2Q'25.

<sup>xlix</sup> Track record for Vinci Credit Infra is presented as of 2Q'25.

<sup>l</sup> US$ Distributable Earnings was calculated considering the exchange rate from USD to BRL of 5.4254, as of August 08, 2025, when dividends were approved by our Board of Directors.

<sup>li</sup> Per Share calculations are based on end of period Participating Common Shares.

<sup>lii</sup> Actual dividends per common share are calculated considering the share count as of the applicable record date.

<sup>liii</sup> As of June 30, 2025, Public Float was comprised of 11,433,246 Class A common shares.

<sup>liv</sup> Contingent consideration adjustment (after-tax) related to acquisitions and combination with Compass reflects the change in the earn out's fair value to be paid in the future. On June 30, 2025, Vinci Compass revaluated the fair value of the obligation based on the economic conditions at the date, resulting in an increase of the contingent consideration fair value. The variation was recognized as a loss in the financial result.

<sup>lv</sup> Non-operational expenses are comprised of expenses related to professional services rendered in connection with acquisitions.

Earnings Release \| Vinci Compass 28

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## Exhibit 99.3

**Exhibit 99.3**

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1 August 12, 2025 Second Quarter 2025 Earnings Presentation

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2 Disclaimer This presentation contains forward - looking statements that can be identified by the use of words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "estimate" and "potential," among others . By their nature, forward - looking statements are necessarily subject to a high degree of uncertainty and involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside of our control . Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward - looking statements and there can be no assurance that such forward - looking statements will prove to be correct . Accordingly, you should not place undue reliance on forward - looking statements . The forward - looking statements included herein speak only as at the date of this presentation and we do not undertake any obligation to update these forward - looking statements . Past performance does not guarantee or predict future performance . Moreover, neither we nor our affiliates, officers, employees and agents undertake any obligation to review, update or confirm expectations or estimates or to release any revisions to any forward - looking statements to reflect events that occur or circumstances that arise in relation to the content of the presentation . Further information on these and other factors that could affect our financial results is included in filings we have made and will make with the U . S . Securities and Exchange Commission (the "SEC") from time to time, including in the section titled "Risk Factors" in our latest fillings with the SEC . These documents are available on the SEC Filings section of the investor relations section of our website at : https : //ir . vincicompass . com/financials/sec - filings . We have prepared this presentation solely for informational purposes . The information in this presentation does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any of our securities or securities of our subsidiaries or affiliates, not should it or any part of it form the basis of, or be relied on, in connection with any contract to purchase or subscribe for any of our securities or securities of any of our subsidiaries or affiliates, nor shall it or any part of it form the basis of, or be relied on, in connection with any contract or commitment whatsoever . This presentation also includes certain non - GAAP financial information . We believe that such information is meaningful and useful in understanding the activities and business metrics of our operations . We also believe that these non - GAAP financial measures reflect an additional way of viewing aspects of our business that, when viewed with our International Financial Reporting Standards ("IFRS") results, as issued by the International Accounting Standards Board, provide a more complete understanding of factors and trends affecting our business . Further, investors regularly rely on non - GAAP financial measures to assess operating performance and such measures may highlight trends in our business that may not otherwise be apparent when relying on financial measures calculated in accordance with IFRS . We also believe that certain non - GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of public companies in our industry, many of which present these measures when reporting their results . The non - GAAP financial information is presented for informational purposes and to enhance understanding of the IFRS financial statements . The non - GAAP measures should be considered in addition to results prepared in accordance with IFRS, but not as a substitute for, or superior to, IFRS results . As other companies may determine or calculate this non - GAAP financial information differently, the usefulness of these measures for comparative purposes is limited . A reconciliation of such non - GAAP financial measures to the nearest GAAP measure is included in this presentation .

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3 76 mm Adj. DE¹ 2Q'25 17 mm Realized Performance Fees 2Q'25 0.15 Quarterly Dividend US$12 bn Appreciation & Capital Formation 2Q'25 R$ + 87 % YoY + 30 % YoY 1.20 Adj. DE per share² 2Q'25 R$ Second Quarter 2025 Highlights R$ R$ The final closing of VICC brought the total fund size to R$1.8 billion , making it the largest Infrastructure vintage in Vinci Compass' history Divestment in one of our Infrastructure funds within the Real Assets segment contributed not only to realized performance fees, but also to GP investment income in the 2Q'25 R$12 billion in appreciation, capital subscriptions and net inflows in the 2Q'25 across various strategies, driven primarily by Global IP&S, Credit and Equities See notes and definitions at end of document

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4 Financial Highlights

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5 ∆ YoY(%) 2Q'25 YTD 2Q'24 YTD ∆ YoY(%) 2Q'25 1Q'25 2Q'24 (R$ thousands, unless mentioned) 86% 391,098 210,589 71% 195,569 195,529 114,134 Net revenue from management fees 134% 51,073 21,840 128% 26,220 24,853 11,481 Net revenue from advisory fees N/A 22,206 – N/A 10,944 11,262 – Other revenues 100% 464,377 232,429 85% 232,733 231,644 125,615 Total Fee Related Revenues 174% (40,807) (14,893) 174% (20,682) (20,125) (7,556) Segment personnel expenses 173% (32,854) (12,030) 167% (17,423) (15,431) (6,535) Other G&A expenses 3,816% (38,807) (991) 3,531% (17,792) (21,015) (490) Placement fee amortization and rebates 233% (156,136) (46,837) 205% (78,484) (77,652) (25,750) Corporate center expenses 54% (64,871) (42,128) 42% (33,127) (31,744) (23,380) Bonus compensation related to management and advisory 185% (333,476) (116,879) 163% (167,509) (165,967) (63,711) Total Fee Related Expenses 13% 130,901 115,550 5% 65,224 65,677 61,904 FEE RELATED EARNINGS (FRE) 28.2% 49.7% 28.0% 28.4% 49.3% FRE Margin (%) (5)% 2.07 2.17 (11)% 1.03 1.04 1.16 FRE per share¹ (R$/share) 45% 11,419 7,886 49% 8,342 3,077 5,613 Net revenue from performance fees 43% (5,033) (3,512) 47% (3,683) (1,350) (2,503) Performance based compensation 46% 6,387 4,374 50% 4,660 1,727 3,110 PERFORMANCE RELATED EARNINGS (PRE) 55.9% 55.5% 55.9% 56.1% 55.4% PRE Margin (%) 150% 8,711 3,483 150% 8,711 – 3,483 (-) Unrealized performance fees 150% (3,083) (1,233) 150% (3,083) – (1,233) (+) Unrealized performance compensation 6% 17,861 16,785 10% 13,576 4,285 12,379 (+) Realized GP investment income 16% 160,777 138,959 12% 89,088 71,689 79,643 SEGMENT DISTRIBUTABLE EARNINGS 32.0% 53.3% 33.8% 30.0% 54.1% Segment DE Margin (%) 63% 6,140 3,764 48% 2,779 3,361 1,873 (+) Depreciation and amortization 52% 36,227 23,783 91% 21,804 14,423 11,421 (+) Realized financial income 74% (7,480) (4,292) 79% (3,722) (3,758) (2,076) (-) Leasing expenses 30% (34,762) (26,753) 19% (20,758) (14,004) (17,517) (-) Other items² (93)% (873) (13,007) (95)% (618) (255) (11,674) (-) Non - operational expenses³ (17)% (22,614) (27,359) (11)% (13,236) (9,378) (14,872) (-) Income taxes (excluding related to unrealized fees and income) 45% 137,415 95,094 61% 75,337 62,078 46,797 DISTRIBUTABLE EARNINGS (DE) 25.5% 33.4% 26.4% 24.5% 29.5% DE Margin (%) 22% 2.17 1.79 36% 1.19 0.98 0.88 DE per share (R$/share)⁴ (95)% 650 12,912 (96)% 422 228 11,604 (+) Non - operational expenses (including Income Tax effect) 28% 138,065 108,006 30% 75,759 62,306 58,401 ADJUSTED DISTRIBUTABLE EARNINGS 5 25.6% 38.0% 26.6% 24.6% 36.8% Adjusted DE Margin (%) 8% 2.18 2.03 9% 1.20 0.98 1.10 Adjusted DE per share 6 (R$/share) See notes and definitions at end of document Second Quarter 2025 Segment Earnings

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6 25 232 230 8 29 30 16 16 16 9 15 16 11 12 12 69 305 304 2Q'24 1Q'25 2Q'25 Global IP&S Credit Private Equity Equities Real Assets Total Assets Under Management and Advisory AUM 2Q'25 vs 1Q'25 vs. 2Q'24 (R$bn) • Total assets under management and advisory (AUM¹) of R$304.1 billion, up 339% year - over - year, mostly driven by the combination with Compass, and the acquisition of Lacan. • New capital formation in the 2Q'25 totaled R$3.6 billion, driven by net inflows and capital subscriptions across Global IP&S, Credit, and Real Assets. • Portfolio appreciation of R$8.1 billion in the quarter, combined with R$3.6 billion in capital formation, was offset by R$11.8 billion in negative FX variation, primarily from U.S. Dollar - denominated Global IP&S funds. R$11.8 billion See notes and definitions at end of document 74% 18% 8% 4% (4)% Capital Formation & Appreciation 2Q'25 Global IP&S Credit Equities Real Assets Private Equity

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7 Vinci Compass recognizes the performance revenue according to IFRS 15. Unrealized performance fees are recognized only when i s h ighly probable that the revenue will not be reversed in the Income Statement. The fund FIP Infra Transmissão in Infrastructure had R$1.7 million as of the end of the second quarter of 2025 booked as unrealized performance fees in the co mpany's balance sheet. Accrued performance fees shown for Private Equity funds of R$310.8 million, Credit funds of R$21.7 million, Real Assets funds of R$4.2 million, and Gl oba l IP&S of R$1.2 million, as of the end of the second quarter of 2025, have not been booked as unrealized performance fees in the company's balance sheet. Additional Capital Detail 92% 6% 2% 1% • Total performance fee eligible AUM (PEAUM) of R$49.4 billion in the 2Q'25. • Our PEAUM is distributed across three different types of indexes: Preferred Return with Catch - Up¹, Preferred Return² and Hurdle³. • Gross accrued performance fees of R$339.7 million in the 2Q'25. • The VCP strategy in Private Equity accounted for R$310.8 million in accrued performance fees, or 91% of total accrued performance fees. Performance Eligible AUM R$340 mm 27% 20% 22% 12% 19% Private Equity Global IP&S Credit Real Assets Equities Gross Accrued Performance Fees R$49 bn

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8 Fee Related Revenues Fee related revenues totaled R$232.7 million in the quarter, up 85% year - over - year, pushed by growth in management fees, advisory fees and the addition of other revenue streams. Fee Related Revenues 2Q'25 vs. 2Q'24 (R$mm) Fee Related Revenues 2Q'25 YTD vs. 2Q'24 YTD (R$mm) Catch - up fees of R$6.3 million in the quarter, coming from new client commitments to our Infrastructure Climate Change strategy. Advisory fees of R$26.2 million in the quarter, composed of upfront fees charged for third - party distribution alternative commitments in Global IP&S segment, as well as fees from Corporate Advisory segment. Other revenues totaled R$10.9 million in the 2Q'25, consisting of custody & execution and fund services fees. +85% +100% 114 196 11 26 11 126 233 2Q'24 2Q'25 Management fees Advisory fees Other revenues 211 391 22 51 22 232 464 2Q'24 YTD 2Q'25 YTD Management fees Advisory fees Other revenues

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9 Realized GP Investment and Financial Income Realized GP Investment¹ and Financial Income² of R$35.4 million in the 2Q'25, up 49% year - over - year. This growth reflects the capital return from our GP commitment in FIP Transmissão , combined with solid results from the liquid portfolio. Realized GP Investment and Financial income 2Q'25 vs. 2Q'24 (R$mm) Realized GP Investment and Financial income 2Q'25 YTD vs. 2Q'24 YTD (R$mm) +33% +49% Total GP Investment and Financial Income accounted for R$54.1 million over the 2Q'25 YTD, up 33% when compared to the 2Q'24 YTD. See notes and definitions at end of document 11 22 12 14 24 35 2Q'24 2Q'25 Realized Financial Income Realized GP Investment Income 24 36 17 18 41 54 2Q'24 YTD 2Q'25 YTD Realized Financial Income Realized GP Investment Income

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10 58 76 2Q'24 2Q'25 3 5 2Q'24 2Q'25 62 65 2Q'24 2Q'25 Financial Metrics 2Q'25 overview Fee Related Earnings of R$65.2 million and R$1.03/share • Catch - up fees in the 2Q'24 were higher due to the fundraising cycle of VCP IV. Excluding catch - up fees in the 2Q'24 and 2Q'25, FRE grew by 25%. Performance Related Earnings of R$4.7 million and R$0.07/share • Net performance fees recognized across Credit, Equities, Global IP&S and Real Assets segments . Adjusted Distributable Earnings of R$75.8 million and R$1.20/ share Fee Related Earnings (FRE) (R$mm) +5% % FRE margin 28 % 49% FRE per share 1.16 1.03 +50% Performance Related Earnings (PRE) (R$mm) 56% 55 % PRE per share 0.06 0.07 % PRE margin Adjusted Distributable Earnings (DE) (R$mm) +30% 27% 37% Adj. DE per share 1.10 1.20 % Adj. DE margin • Growth in Adjusted DE both on nominal and per share basis, enhanced by stronger realized performance fees and realized GP investment income.

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11 116 131 2Q'24 YTD 2Q'25 YTD Financial Metrics 2Q'25 YTD overview 108 138 2Q'24 YTD 2Q'25 YTD Adjusted Distributable Earnings (DE) (R$mm) 26% 38% 2.03 2.18 +28% Fee Related Earnings of R$130.9 million and R$2.07/ share • Stronger management and advisory fees over the first half of 2025, driven by a combination of organic fundraising and inorganic transactions. Performance Related Earnings of R$6.4 million and R$0.10/ share • Growth driven by realized performance fees in the 2Q'25 across Credit, Equities , Global IP&S and Real Assets . Adjusted Distributable Earnings of R$138.1 million and R$2.18/ share 4 6 2Q'24 YTD 2Q'25 YTD • Adj. DE in the 2Q'25 YTD reflects the combined effect of growth in FRE and PRE, driven by our acquisitions, organic fundraising and performance across funds impacting performance fees and GP investment income. +13% % FRE margin FRE per share Fee Related Earnings (FRE) (R$mm) 28 % 50 % 2.17 2.07 Performance Related Earnings (PRE) (R$mm) 56% 5 5 % 0.08 0.10 +46% PRE per share % PRE margin Adj. DE per share % Adj. DE margin

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12 25% 21% 15% 14% 14% 5% 3% 3% Fair Value of Investments - GP Commitment Balance Sheet Highlights & GP Commitments 2Q'25 1Q'25 (IN R$ MILLIONS, UNLESS MENTIONED) 189.2 163.8 Cash and cash equivalents¹ 1,131.1 1,200.4 Net Investments 407.7 503.0 Liquid funds² 723.4 697.4 GP Fund Investments³ (558.2) (552.7) Debt obligations 4 762.1 811.4 Net Cash and Investments 12.05 12.81 Net Cash and Net Investments per share⁵ (R$/share) Net Cash and Investments of R$762.1 million in the 2Q'25, including cash and cash equivalents, investments in liquid funds, GP stakes and debt obligations R$723.4 mm 27% 21% 16% 16% 14% 4% 2% 1% Private Equity Credit Infrastructure REITs Real Estate Global IP&S Public Equities Forestry Total Capital Commited R$1.4 billion

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13 697.4 45.7 (2.4) (14.8) (2.6) 723.4 1Q'25 Capital Called Principal Returned Gross Capital Gain Returned Depreciation 2Q'25 See notes and definitions at end of document Our GP Commitments are a long - term strong value creator Fair Value of Investments (R$ mm) GP Commitments Overview Per share R$11.44 R$11.01 Total Capital Committed R$1,421.8 million Total Capital Called R$771.1 million Fair Value of Investments R$723.4 million Accum . Capital Returned R$161.0 million As of 2Q'25, Vinci Compass had R$1,421.8 million in capital commitments signed to proprietary funds mostly across Private Equity, Infrastructure, Credit and Real Estate. Total capital called of R$771.1 million, representing 54.2% of the total capital committed to proprietary funds as of June 30, 2025. Fair Value of Investments account for R$723.4 million.

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14 Segment Highlights

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15 Financials by Segment Fee Related Earnings (FRE) 2Q '25 YTD by Segment Segment Distributable Earnings (DE) 2Q'25 YTD by Segment Fee Related Earnings (FRE) were R$130.9 million in the 2Q'25 YTD, with 28% of FRE coming from Private Equity, Global IP&S accounting for 26%, Real Assets with 21%, followed by Credit with 17%, Equities accounting for 7% and Corporate Advisory for 2%. Segment Distributable Earnings (DE) were R$160.8 million in the 2Q'25 YTD, with 28% coming from Real Assets, followed by Private Equity with 24%, Global IP&S with 22%, Credit with 17%, Equities accounting for 7% and Corporate Advisory for 2%. R$161 mm R$131 mm 28% 21% 26% 17% 7% 2% 24% 28% 22% 17% 7% 2% Private Equity Real Assets Global IP&S Credit Equities Corporate Advisory

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16 See notes and definitions at end of document TPD Liquid 47% TPD Alternative 31% Global Solutions 8% Separate Mandate 8% Custody & Execution 3% Commingled Fund 1% Pension Plans 1% Other ³ 1% Global IP&S AUM Breakdown by Strategy Global Investment Products & Solutions (Global IP&S) R$230 bn AUM Fee Related Earnings (FRE) of R$12.5 million in the quarter, up 250% YoY, driven mostly by the growth in management fees following the combination with Compass. Advisory fees of R$17.5 million in the 2Q'25 mainly from upfront fees¹ charged in TPD² Alternative. ∆ YoY (%) 2Q'25 YTD 2Q'24 YTD ∆ YoY (%) 2Q'25 1Q'25 2Q'24 (R$ THOUSANDS, UNLESS MENTIONED) 220% 125,316 39,106 212% 59,691 65,625 19,134 Net revenue from management fees 7,433% 40,074 532 3,245% 17,527 22,547 524 Net revenue from advisory fees N/A 21,833 – N/A 10,748 11,085 – Other revenues 372% 187,223 39,639 347% 87,966 99,257 19,659 Total Fee Related Revenues 177% (12,140) (4,376) 167% (5,841) (6,299) (2,188) Segment personnel expenses 180% (15,426) (5,508) 191% (8,383) (7,043) (2,881) Other G&A expenses N/A (19,122) – N/A (9,683) (9,438) – Placement fee amortization and rebates 816% (82,017) (8,958) 737% (39,995) (42,022) (4,777) Corporate center expenses 127% (25,017) (11,009) 85% (11,598) (13,419) (6,255) Bonus compensation related to management and advisory 415% (153,722) (29,851) 369% (75,501) (78,221) (16,101) Total Fee Related Expenses 242% 33,501 9,787 250% 12,466 21,035 3,557 FEE RELATED EARNINGS (FRE) 17.9% 24.7% 14.2% 21.2% 18.1% FRE Margin (%) 721% 1,830 223 150% 536 1,295 214 Net revenue from performance fees 721% 1,830 223 150% 536 1,295 214 Realized performance fees N/A – – N/A – – – Unrealized performance fees 645% (828) (111) 148% (265) (562) (107) Performance based compensation 795% 1,003 112 153% 270 732 107 PERFORMANCE RELATED EARNINGS (PRE) 54.8% 50.2% 50.5% 56.6% 50.0% PRE Margin (%) N/A – – N/A – – – (-) Unrealized performance fees N/A – – N/A – – – (+) Unrealized performance compensation 205% 692 227 135% 397 296 169 (+) Realized GP investment income 248% 35,196 10,127 243% 13,133 22,063 3,834 SEGMENT DISTRIBUTABLE EARNINGS 18.5% 25.3% 14.8% 21.9% 19.1% Segment DE Margin (%) 821% 228,773 24,845 821% 228,773 230,551 24,845 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions) 0.13% 0.34% 0.13% 0.13% 0.33% AVERAGE FEE RATE (%) 634% 182,317 24,845 634% 182,317 180,855 24,845 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions) EX - UPFRONTS 4 0.16% 0.34% 0.16% 0.17% 0.33% AVERAGE FEE RATE (%) EX - UPFRONTS AUM ended the 2Q'25 at R$230 billion. Global IP&S had R$2.3 billion in net inflows and R$6.4 billion of appreciation, however, the quarter was impacted by a negative R$10.4 billion FX variation on U.S. Dollar Global IP&S funds (mainly TPD Liquid and Alternative).

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17 Local Currency High Grade & High Yield 37% Hard Currency High Grade & High Yield 24% Real Estate & Infrastructure Credit 11% Opportunistic Capital Solutions 11% Structured Credit & Confirming 9% Diversified Private Credit 5% Agribusiness 3% Credit AUM Breakdown by Strategy Credit R$30 bn AUM Fee related earnings (FRE) in the 2Q'25 posted a 97% increase year - over - year, driven by higher management fees from both inorganic and organic growth, coming from fundraising, deployment and portfolio appreciation across various strategies and geographies. Our one - stop - shop credit platform continues to gain momentum, with R$1.6 billion in new capital formation across private credit and liquid strategies, both local - to - local and cross - border, fully aligned with our strong fundraising pipeline for the year. ∆ YoY (%) 2Q'25 YTD 2Q'24 YTD ∆ YoY (%) 2Q'25 1Q'25 2Q'24 (R$ THOUSANDS, UNLESS MENTIONED) 288% 107,336 27,666 276% 54,518 52,818 14,483 Net revenue from management fees (100)% – 280 N/A – – – Net revenue from advisory fees N/A – – N/A – – – Other revenues 284% 107,336 27,945 276% 54,518 52,818 14,483 Total Fee Related Revenues 415% (13,779) (2,673) 429% (6,928) (6,851) (1,310) Segment personnel expenses 296% (5,752) (1,452) 364% (3,191) (2,561) (688) Other G&A expenses N/A (15,590) – N/A (7,525) (8,065) – Placement fee amortization and rebates 442% (34,330) (6,337) 377% (17,207) (17,123) (3,609) Corporate center expenses 192% (16,213) (5,545) 169% (8,196) (8,017) (3,049) Bonus compensation related to management and advisory 435% (85,664) (16,007) 397% (43,047) (42,617) (8,655) Total Fee Related Expenses 82% 21,673 11,939 97% 11,471 10,202 5,828 FEE RELATED EARNINGS (FRE) 20.2% 42.7% 21.0% 19.3% 40.2% FRE Margin (%) 33% 4,522 3,412 32% 4,507 16 3,405 Net revenue from performance fees 33% 4,522 3,412 32% 4,507 16 3,405 Realized performance fees N/A – – N/A – – – Unrealized performance fees 30% (1,961) (1,512) 30% (1,959) (2) (1,508) Performance based compensation 35% 2,561 1,902 34% 2,548 13 1,898 PERFORMANCE RELATED EARNINGS (PRE) 56.6% 55.7% 56.5% 86.6% 55.7% PRE Margin (%) N/A – – N/A – – – (-) Unrealized performance fees N/A – – N/A – – – (+) Unrealized performance compensation (17)% 3,292 3,982 (22)% 1,816 1,477 2,340 (+) Realized GP investment income 54% 27,527 17,823 57% 15,835 11,692 10,066 SEGMENT DISTRIBUTABLE EARNINGS 23.9% 50.4% 26.0% 21.5% 49.8% Segment DE Margin (%) 260% 29,908 8,311 260% 29,908 28,764 8,311 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions) 0.76% 0.75% 0.76% 0.76% 0.75% AVERAGE FEE RATE (%) Total AUM of R$30 billion, up 258% year - over - year.

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18 VCP III 55% VCP IV 19% VCP II 16% VIR IV 6% Other 4% Private Equity AUM Breakdown by Flagship Private Equity R$16 bn AUM Total AUM of R$16 billion, up 2% year - over - year. Fee Related Earnings (FRE) totaled R$17.6 million in the quarter, representing a 40% year - over - year decrease. This decrease is due solely to the catch - up fees recognized in the 2Q'24 from the strong fundraising of the VCP IV strategy in that quarter, which ended in the 4Q24, thus not occurring again in 2025. Excluding this effect and considering only recurring management fees, FRE grew 21% year - over - year. In July, our VCP team completed the acquisition of AGV, bringing VCP IV's capital deployment to approximately 40% of total commitments. The team continues to source new investment opportunities for deployment and pursue exits across Funds II and III, while our VIR team is focused on structuring our next impact investing vintage, VIR V. ∆ YoY (%) 2Q'25 YTD 2Q'24 YTD ∆ YoY (%) 2Q'25 1Q'25 2Q'24 (R$ THOUSANDS, UNLESS MENTIONED) (11)% 62,005 69,764 (29)% 30,710 31,294 43,480 Net revenue from management fees N/A – – N/A – – – Net revenue from advisory fees N/A – – N/A – – – Other revenues (11)% 62,005 69,764 (29)% 30,710 31,294 43,480 Total Fee Related Revenues 9% (2,346) (2,146) 9% (1,178) (1,168) (1,080) Segment personnel expenses 28% (2,191) (1,716) 18% (1,393) (798) (1,183) Other G&A expenses 20% (730) (607) 22% (363) (367) (298) Placement fee amortization and rebates 2% (12,550) (12,334) (5)% (6,518) (6,032) (6,884) Corporate center expenses (7)% (7,134) (7,677) (20)% (3,636) (3,497) (4,571) Bonus compensation related to management and advisory 2% (24,949) (24,481) (7)% (13,088) (11,861) (14,017) Total Fee Related Expenses (18)% 37,055 45,284 (40)% 17,622 19,433 29,464 FEE RELATED EARNINGS (FRE) 59.8% 64.9% 57.4% 62.1% 67.8% FRE Margin (%) N/A – – N/A – – – Net revenue from performance fees N/A – – N/A – – – Realized performance fees N/A – – N/A – – – Unrealized performance fees N/A – – N/A – – – Performance based compensation N/A – – N/A – – – PERFORMANCE RELATED EARNINGS (PRE) N/A N/A N/A N/A N/A PRE Margin (%) N/A – – N/A – – – (-) Unrealized performance fees N/A – – N/A – – – (+) Unrealized performance compensation N/A 1,692 – N/A 1,692 – – (+) Realized GP investment income (14)% 38,747 45,284 (34)% 19,314 19,433 29,464 SEGMENT DISTRIBUTABLE EARNINGS 60.8% 64.9% 59.6% 62.1% 67.8% Segment DE Margin (%) 3% 12,710 12,385 3% 12,710 13,287 12,385 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions) 1.00% 1.29% 1.01% 1.00% 1.57% AVERAGE FEE RATE (%)

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19 Brazil 70% Chile 17% Mexico 7% Argentina 2% LatAm 4% Equities AUM Breakdown by Strategy Equities Total AUM of R$16 billion, up 64% year - over - year. R$16 bn AUM Fee Related Revenues grew 36% year - over - year; however, due to higher expenses following the combination with Compass, Fee Related Earnings (FRE) declined in the period. Performance Related Earnings (PRE) grew 102% year - over - year to R$1.9 million in the 2Q'25, driven by the positive performance of stock markets. A highlight was our Latam Equity Fund, which delivered consistent results in the first half of the year and ranked in the top quartile. ∆ YoY (%) 2Q'25 YTD 2Q'24 YTD ∆ YoY (%) 2Q'25 1Q'25 2Q'24 (R$ THOUSANDS, UNLESS MENTIONED) 35% 37,480 27,726 36% 18,686 18,794 13,762 Net revenue from management fees N/A – – N/A – – – Net revenue from advisory fees N/A – – N/A – – – Other revenues 35% 37,480 27,726 36% 18,686 18,794 13,762 Total Fee Related Revenues 204% (5,238) (1,723) 256% (2,969) (2,269) (834) Segment personnel expenses 342% (3,618) (819) 215% (1,497) (2,121) (475) Other G&A expenses N/A (2,953) – N/A (1,402) (1,551) – Placement fee amortization and rebates 86% (11,692) (6,272) 77% (5,991) (5,701) (3,382) Corporate center expenses 21% (5,163) (4,271) 15% (2,601) (2,562) (2,267) Bonus compensation related to management and advisory 119% (28,663) (13,084) 108% (14,460) (14,203) (6,958) Total Fee Related Expenses (40)% 8,817 14,642 (38)% 4,226 4,591 6,804 FEE RELATED EARNINGS (FRE) 23.5% 52.8% 22.6% 24.4% 49.4% FRE Margin (%) 29% 5,066 3,936 96% 3,299 1,767 1,679 Net revenue from performance fees 29% 5,066 3,936 96% 3,299 1,767 1,679 Realized performance fees N/A – – N/A – – – Unrealized performance fees 26% (2,212) (1,750) 90% (1,426) (786) (749) Performance based compensation 31% 2,854 2,184 102% 1,873 982 929 PERFORMANCE RELATED EARNINGS (PRE) 56.3% 55.5% 56.8% 55.6% 55.3% PRE Margin (%) N/A – – N/A – – – (-) Unrealized performance fees N/A – – N/A – – – (+) Unrealized performance compensation (31)% 11,671 16,826 (21)% 6,099 5,573 7,733 SEGMENT DISTRIBUTABLE EARNINGS 27.4% 53.1% 27.7% 27.1% 50.1% Segment DE Margin (%) 64% 15,502 9,426 64% 15,502 14,739 9,426 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions) 0.53% 0.61% 0.51% 0.55% 0.61% AVERAGE FEE RATE (%)

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20 Real Assets Total AUM of R$12 billion, up 14% year - over - year. R$12 bn AUM Fee Related Earnings grew 25% year - over - year, reflecting strong business momentum driven by catch - up fees from the final closing of VICC and inorganic growth. Segment DE posted a 25% year - over - year increase, driven by the recognition of performance fees from the FIP Infra Transmissão fund, which were initially booked as unrealized. This dynamic results on a neutral PRE as realized and unrealized performance fees offset each other, but a positive impact on Segment DE with Realized performance and GP Investment income. ∆ YoY (%) 2Q'25 YTD 2Q'24 YTD ∆ YoY (%) 2Q'25 1Q'25 2Q'24 (R$ THOUSANDS, UNLESS MENTIONED) 27% 58,960 46,327 37% 31,963 26,997 23,275 Net revenue from management fees (6)% 2,322 2,471 (78)% 473 1,850 2,197 Net revenue from advisory fees N/A 374 – N/A 197 177 – Other revenues 26% 61,656 48,798 28% 32,633 29,024 25,471 Total Fee Related Revenues 115% (6,040) (2,813) 99% (3,054) (2,986) (1,535) Segment personnel expenses 162% (5,450) (2,080) 162% (2,676) (2,774) (1,023) Other G&A expenses 7% (413) (384) N/A 1,181 (1,594) (192) Placement fee amortization and rebates¹ 29% (13,642) (10,593) 33% (7,712) (5,931) (5,810) Corporate center expenses 15% (8,912) (7,764) 8% (4,829) (4,083) (4,470) Bonus compensation related to management and advisory 46% (34,457) (23,636) 31% (17,089) (17,368) (13,031) Total Fee Related Expenses 8% 27,199 25,161 25% 15,543 11,656 12,440 FEE RELATED EARNINGS (FRE) 44.1% 51.6% 47.6% 40.2% 48.8% FRE Margin (%) (100)% 1 315 (100)% 1 – 315 Net revenue from performance fees 129% 8,713 3,798 129% 8,713 – 3,798 Realized performance fees 150% (8,711) (3,483) 150% (8,711) – (3,483) Unrealized performance fees (77)% (32) (139) (77)% (32) – (139) Performance based compensation N/A (31) 176 N/A (31) – 176 PERFORMANCE RELATED EARNINGS (PRE) N/A 55.9% N/A N/A 55.9% PRE Margin (%) 150% 8,711 3,483 150% 8,711 – 3,483 (-) Unrealized performance fees 150% (3,083) (1,233) 150% (3,083) – (1,233) (+) Unrealized performance compensation (3)% 12,184 12,576 (2)% 9,672 2,512 9,870 (+) Realized GP investment income 12% 44,981 40,162 25% 30,813 14,168 24,735 SEGMENT DISTRIBUTABLE EARNINGS 54.5% 61.6% 60.4% 44.9% 63.2% Segment DE Margin (%) 13% 12,026 10,625 13% 12,026 11,839 10,625 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions) 1.05% 0.90% 1.13% 0.98% 0.91% AVERAGE FEE RATE (%) Real Estate 53% Infrastructure 32% Forestry 15% Real Assets AUM Breakdown by Strategy See notes and definitions at end of document

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21 Corporate Advisory Fee Related Earnings (FRE) and Segment Distributable Earnings totaled R$3.9 million in the 2Q'25 and R$2.7 million in the 2Q'25 YTD. ∆ YoY (%) 2Q'25 YTD 2Q'24 YTD ∆ YoY (%) 2Q'25 1Q'25 2Q'24 (R$ THOUSANDS, UNLESS MENTIONED) N/A – – N/A – – – Net revenue from management fees (53)% 8,677 18,557 (6)% 8,220 457 8,760 Net revenue from advisory fees N/A – – N/A – – – Other revenues (53)% 8,677 18,557 (6)% 8,220 457 8,760 Total Fee Related Revenues 9% (1,265) (1,162) 17% (712) (553) (609) Segment personnel expenses (8)% (418) (455) (0)% (284) (134) (285) Other G&A expenses N/A – – N/A – – – Placement fee amortization and rebates (19)% (1,905) (2,342) (18)% (1,061) (844) (1,287) Corporate center expenses (58)% (2,433) (5,861) (18)% (2,267) (167) (2,768) Bonus compensation related to management and advisory (39)% (6,020) (9,820) (13)% (4,323) (1,697) (4,949) Total Fee Related Expenses (70)% 2,657 8,737 2% 3,897 (1,240) 3,810 FEE RELATED EARNINGS (FRE) 30.6% 47.1% 47.4% N/A 43.5% FRE Margin (%) (70)% 2,657 8,737 2% 3,897 (1,240) 3,810 SEGMENT DISTRIBUTABLE EARNINGS 30.6% 47.1% 47.4% N/A 43.5% Segment DE Margin (%) Deal activity began to pick up in the 2Q'25, following macroeconomic uncertainties in the first quarter. We anticipate continued improvement in the second half of the year.

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22 Supplement Details

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23 See notes and definitions at end of document AUM¹ Rollforward Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 304,552 11,965 14,793 16,481 29,389 231,924 Beginning balance (18) 23 – (161) 121 (2) (+/ -) Capital Subscription / (capital return) 443 237 – – 206 0 (+) Capital Subscription (461) (214) – (161) (84) (2) (-) Capital Return – – – – – – (+) Acquisitions 3,196 (17) (505) – 1,442 2,276 (+/ -) Net Inflow / Outflow (11,793) (60) (236) (131) (945) (10,421) (+/ -) FX Variation 8,120 213 1,500 (420) 451 6,377 (+/ -) Appreciation / (depreciation) 304,057 12,123 15,552 15,769 30,459 230,155 Ending balance For the Three Months Ended June 30, 2025 Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 69,212 10,669 9,463 15,524 8,499 25,057 Beginning balance 2,000 (277) – 228 2,058 (10) (+/ -) Capital Subscription / (capital return) 3,407 349 – 463 2,595 0 (+) Capital Subscription (1,408) (626) – (235) (537) (10) (-) Capital Return 241,147 2,006 4,355 – 18,780 216,007 (+) Acquisitions (7,819) (35) (191) – 577 (8,171) (+/ -) Net Inflow / Outflow (12,938) (23) (241) (61) (995) (11,618) (+/ -) FX Variation 12,456 (216) 2,166 77 1,539 8,890 (+/ -) Appreciation / (depreciation) 304,057 12,123 15,552 15,769 30,459 230,155 Ending balance For the Twelve Months Ended June 30, 2025

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24 See notes and definitions at end of document Fee - Earning AUM¹ Rollforward Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 299,180 11,839 14,739 13,287 28,764 230,551 Beginning balance 29 52 – (142) 121 (2) (+/ -) Capital Subscription / (capital return) 443 237 – – 206 – (+) Capital Subscription (414) (185) – (142) (84) (2) (-) Capital Return – – – – – – (+) Acquisitions 3,177 (17) (495) – 1,448 2,241 (+/ -) Net Inflow / Outflow (11,747) (60) (235) (131) (925) (10,395) (+/ -) FX Variation 8,281 212 1,493 (303) 500 6,379 (+/ -) Appreciation / (depreciation) 298,920 12,026 15,502 12,710 29,908 228,773 Ending balance For the Three Months Ended June 30, 2025 Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 65,592 10,625 9,426 12,385 8,311 24,845 Beginning balance 2,049 (248) – 247 2,060 (10) (+/ -) Capital Subscription / (capital return) 3,407 349 – 463 2,595 – (+) Capital Subscription (1,358) (597) – (216) (535) (10) (-) Capital Return 240,138 2,006 4,316 – 18,340 215,477 (+) Acquisitions (7,804) (35) (162) – 645 (8,252) (+/ -) Net Inflow / Outflow (12,888) (23) (240) (61) (974) (11,591) (+/ -) FX Variation 11,834 (298) 2,161 139 1,527 8,304 (+/ -) Appreciation / (depreciation) 298,920 12,026 15,502 12,710 29,908 228,773 Ending balance For the Twelve Months Ended June 30, 2025

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25 Investment records – Credit and Equities Funds Hurdle Rate Market Comparison 24 M 12 M YTD 2Q'25 NAV¹ (R$ millions) Segment Fund or Strategy IPCA + Yield IMA - B IPCA + Yield IMA - B 19.0% 15.3% 22.6% 17.0% 246.0 Equities Vinci Total Return² IBOV IBOV 14.0% 10.3% 19.3% 11.1% 847.6 Equities Mosaico Strategy³ IBOV IBOV 18.2% 13.6% 17.5% 9.1% 338.1 Equities Vinci Gas Dividendos FIA N/A S&P/BMV IPC 23.7% 25.4% 19.8% 11.9% 170.5 Equities Compass CRECE+ N/A S&P MERVAL 351.6% 23.2% (22.5)% (17.0)% 348.2 Equities Compass Crecimiento N/A N/A 40.4% 23.6% 30.3% 7.9% 1,479.8 Equities Compass Small Cap Chile IPCA + 6% IPCA 15.9% 10.3% 8.4% 4.7% 721.9 Credit Vinci Crédito Imobiliário II IPCA + 6% IPCA 16.9% 8.6% 7.4% 4.0% 543.1 Credit Vinci Energia Sustentável IPCA + 5% CDI 24.8% 12.6% 8.4% 4.4% 323.3 Credit Vinci Crédito Multiestratégia N/A CEMBI Broad Div 20.6% 9.1% 4.9% 1.9% 4,301.0 Credit Compass Latam Corporate Debt Fund N/A CEMBI Broad Div HY 24.5% 9.8% 4.0% 1.4% 1,773.8 Credit Compass Latam High Yield USD N/A PIP Cetes 28D 23.8% 10.7% 4.8% 2.3% 1,933.1 Credit Compass I+LIQG N/A CDI 29.4% 12.8% 7.1% 3.6% 820.5 Credit Compass Credit Selection CDI CDI 31.1% 13.2% 7.2% 3.5% 2,032.8 Credit Compass Yield 30 N/A N/A 17.7% 10.5% 4.1% 1.5% 438.0 Credit Compass Deuda Plus N/A CEMBI Broad Div 9.2% 4.9% 3.1% 1.3% 753.8 Credit Compass Renta Fija - B See notes and definitions at end of document 24 M 12 M YTD 2Q'25 Benchmark 24.2% 12.7% 6.8% 2.9% IPCA 4 + Yield IMA - B 5 17.6% 12.1% 15.4% 6.6% IBOV 6 14.9% 13.6% 18.6% 11.6% S&P/BMV IPC 7 362.4% 23.7% (21.3)% (14.7)% S&P MERVAL 8 25.2% 12.1% 6.4% 3.3% CDI 9 9.8% 5.4% 3.0% 0.9% IPCA 20.6% 8.5% 4.3% 1.6% CEMBI Broad Div 10 25.1% 9.2% 3.9% 1.4% CEMBI Broad Div HY 11 23.2% 10.3% 4.7% 2.2% PIP Cetes 28D 12

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26 Investment records – Global IP&S and Real Assets Funds See notes and definitions at end of document Hurdle Rate Market Comparison 24 M 12 M YTD 2Q'25 NAV¹ (R$ millions) Segment Fund or Strategy CDI CDI 20.4% 10.7% 5.7% 2.8% 99.2 Global IP&S Vinci Multiestratégia FIM CDI CDI 18.0% 12.1% 4.4% 2.7% 212.5 Global IP&S Atlas Strategy IMA - B IMA - B 16.4% 8.7% 4.4% 2.4% 839.9 Global IP&S Vinci Valorem FIM N/A IPCA 13.1% 6.4% 2.8% 1.4% 887.0 Global IP&S Equilibrio Strategy IMA - B IMA - B 10.2% 4.4% 1.5% (0.2)% 85.9 Global IP&S Vinci Retorno Real FIM IPCA + 6% IFIX 5.6% (2.2)% 12.0% 2.5% 2,987.8 Real Assets (listed REIT) VISC11 IPCA + 6% IFIX (8.1)% 13.0% 20.9% 5.6% 1,287.2 Real Assets (listed REIT) VILG11 IPCA + 6% IFIX (33.1)% (17.8)% 9.2% (0.6)% 417.9 Real Assets (listed REIT) VINO11 IPCA + 6% IFIX (12.4)% (0.8)% 3.8% 11.4% 154.7 Real Assets (listed REIT) VIUR11 IPCA + X% IFIX 13.9% 0.1% 20.1% 9.1% 132.6 Real Assets (listed REIT) VCRI11 CDI + 1% IFIX 3.6% 3.1% 2.3% 1.1% 387.9 Real Assets (REIT) VICA11 IFIX IFIX - 6.3% 9.1% 4.5% 48.7 Real Assets (REIT) VINCI FOF IMOBILIARIO FIM CP N/A N/A (42.8)% (42.3)% 27.1% (0.6)% 314.9 Real Assets (listed REIT) VIGT11 24 M 12 M YTD 2Q'25 Benchmark 25.2% 12.1% 6.4% 3.3% CDI 2 17.9% 9.0% 6.0% 2.8% IMA - B 3 9.8% 5.4% 3.0% 0.9% IPCA 4 10.4% 4.1% 11.8% 5.2% IFIX 5

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27 See notes and definitions at end of document Investment records – Closed End funds Pro Forma Historical Portfolio Performance - Excluding PIPE Investments¹ Gross IRR Gross IRR Gross MOIC Gross MOIC Total Value Unrealized Realized or Partially Realized Invested Capital Committed Capital Vintage year Segment Fund (USD) (BRL) (USD) (BRL) (R$mm) (R$mm) (R$mm) (R$mm) (R$mm) 77.2% 71.5% 4.0x 4.3x 5,210 79 5,131 1,206 1,415 2004 Private Equity Fund 1 - 0.4% 8.7% 1.0x 1.9x 3,910 2,046 1,865 2,063 2,200 2011 Private Equity VCP II 24.0% 25.5% 2.1x 2.1x 5,461 5,174 287 2,501 4,000¹³ 2018 Private Equity VCP III NM NM 1.2x 1.2x 1,027 1,027 – 793 3,879¹³ 2022 Private Equity VCP IV 70.2% 64.6% 2.1x 2.3x 15,608 8,326 7,282 6,563 9,526 Private Equity VCP Strategy² 30.5% 22.0% 2.6x 2.1x 26 – 26 13 36 2003 Private Equity NE Empreendedor³ 14.2% 21.7% 1.8x 2.4x 321 223 98 135 240 2017 Private Equity Nordeste III 19.4% 21.5% 1.3x 1.4x 923 757 167 728 1,000 2020 Private Equity VIR IV 26.2% 21.8% 1.5x 1.5x 1,271 980 291 875 1,276 Private Equity VIR Strategy⁴ 18.3% 24.9% 1.8x 2.3x 362 51 311 206 128 2018 Credit SPS I 22.7% 22.7% 2.2x 2.2x 1,670 583 1,088 1,062 671 2020 Credit SPS II 22.2% 24.7% 2.3x 2.4x 2,015 1,369 646 1,504 1,071 2021 Credit SPS III NM NM NM NM 63 63 – 63 1,073 2025 Credit SPS IV 21.8% 23.7% 2.2x 2.3x 4,111 2,066 2,045 2,835 2,943 Credit SPS Strategy⁵ 20.1% 18.8% 1.4x 1.4x 239 87 152 165 165 2022 Credit MAV I 11.2% 18.5% 1.3x 1.2x 243 207 36 205 205 2023 Credit MAV II NM NM NM NM 65 63 2 60 220 2025 Credit MAV III 15.2% 18.6% 1.3x 1.3x 547 356 190 431 590 Credit MAV Strategy⁶ 2.8% 11.4% 1.3x 2.3x 579 323 255 253 253 2012 Real Assets Lacan Florestal I 6.9% 12.5% 1.5x 2.0x 718 593 125 356 356 2016 Real Assets Lacan Florestal II 9.3% 12.5% 1.3x 1.4x 530 530 – 390 501 2020 Real Assets Lacan Florestal III 21.3% 20.4% 1.2x 1.2x 126 126 – 109 172 2023 Real Assets Lacan Florestal IV 5.2% 12.0% 1.3x 1.8x 1,952 1,572 380 1,108 1,281 Real Assets Lacan Strategy⁷ 40.7% 56.6% 2.7x 3.7x 379 90 289 104 211 2017 Real Assets FIP Transmissão ⁸ 12.9% 18.1% 1.3x 1.5x 512 512 – 350 386 2021 Real Assets VIAS⁹ NM NM 1.0x 1.0x 151 151 – 151 1,784 2022 Real Assets VICC¹⁰ 6.8% 9.6% 1.1x 1.2x 389 373 16 331 422 2021 Real Assets VFDL¹¹ NM NM 1.2x 1.2x 1,393 1,351 42 1,250 1,848 2022 Credit Vinci Credit Infra¹²

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28 See notes and definitions at end of document Shareholder Dividends & Share Summary 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 1Q'24 4Q'23 3Q'23 ($ in thousands) 75,760 62,306 73,946 57,104 58,401 49,605 63,641 51,820 Adjusted Distributable Earnings (R$) 13,964 11,027 12,804 9,872 10,331 9,801 12,829 10,647 Adjusted Distributable Earnings (US$)¹ 0.22 0.17 0.20 0.19 0.19 0.18 0.24 0.20 Adjusted DE per Common Share (US$)² 0.15 0.15 0.15 0.16 0.17 0.17 0.20 0.17 Actual Dividend per Common Share³ 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 1Q'24 4Q'23 3Q'23 VINP Shares Shares Repurchased 173,762 683,148 607,643 374,834 220,135 533,981 93,249 705,518 # of Shares 9.47 10.07 10.28 10.38 10.82 10.64 10.50 10.14 Average Cost (US$/share) 1,645,210 6,879,698 6,246,577 3,890,849 2,382,251 5,681,558 979,137 7,150,845 Capital Deployed (US$) 14,466,239 14,466,239 14,466,239 14,466,239 14,466,239 14,466,239 14,466,239 14,466,239 Class B 48,778,420 48,896,968 49,580,116 38,404,375 38,779,209 38,778,597 39,312,578 39,405,827 Class A⁴ 63,244,659 63,363,207 64,046,355 52,870,614 53,245,448 53,244,836 53,778,817 53,872,066 Common Shares Vinci Compass generated R$1.20 or US$0.22 of Adjusted Distributable Earnings per common share for the 2Q'25. The company declared a quarterly dividend of US$0.15² per common share to record holders as of August 25, 2025; payable on September 9, 2025. As of June 30, 2025, there was no remaining authorization for the share repurchase plan.

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29 Reconciliations and Disclosures

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30 Financials - Income Statement ∆ YoY (%) 2Q'25 YTD 2Q'24 YTD ∆ YoY (%) 2Q'25 1Q'25 2Q'24 (R$ thousands, unless mentioned) REVENUES 86% 391,098 210,589 71% 195,569 195,529 114,134 Net revenue from management fees 45% 11,419 7,886 49% 8,342 3,077 5,613 Net revenue from performance fees 77% 20,131 11,369 87% 17,054 3,077 9,096 Realized performance fees 150% (8,711) (3,483) 150% (8,711) – (3,483) Unrealized performance fees 134% 51,073 21,840 128% 26,220 24,853 11,481 Net revenue from advisory N/A 22,206 – N/A 10,944 11,262 – Other revenues 98% 475,796 240,315 84% 241,075 234,721 131,228 Total net revenues from services rendered OPERATING EXPENSES 54% (64,871) (42,128) 42% (33,127) (31,744) (23,380) Bonus related to management and advisory 43% (5,033) (3,512) 47% (3,683) (1,350) (2,503) Performance based compensation 71% (8,116) (4,745) 81% (6,766) (1,350) (3,736) Realized 150% 3,083 1,233 150% 3,083 – 1,233 Unrealized 53% (69,904) (45,640) 42% (36,810) (33,094) (25,883) Total compensation and benefits 174% (40,807) (14,893) 174% (20,682) (20,125) (7,556) Segment personnel expenses 173% (32,854) (12,030) 167% (17,423) (15,431) (6,535) Other general and administrative expenses 3816% (38,807) (991) 3,531% (17,792) (21,015) (490) Placement fee amortization and rebates 233% (156,136) (46,837) 205% (78,484) (77,652) (25,750) Corporate center expenses 181% (338,508) (120,391) 159% (171,191) (167,317) (66,214) Total expenses 14% 137,288 119,924 7% 69,884 67,404 65,014 Operating profit OTHER GP AND FINANCIAL INCOME AND EXPENSES (15)% 15,070 17,759 160% 11,064 4,006 4,250 GP Investment income 6% 17,861 16,785 10% 13,576 4,285 12,379 Realized gain from GP investment income N/A (2,791) 975 (69)% (2,512) (279) (8,128) Unrealized gain from GP investment income 52% 36,227 23,783 91% 21,804 14,423 11,421 Financial income 52% 36,227 23,783 91% 21,804 14,423 11,421 Realized gain from financial income N/A – – N/A – – – Unrealized gain from financial income 74% (7,480) (4,292) 79% (3,722) (3,758) (2,076) Leasing expenses (73)% (9,623) (36,241) (76)% (5,165) (4,458) (21,249) Other items¹ N/A (6,197) – N/A (3,996) (2,201) – Equity gain (loss) 2% (11,997) (11,808) 24% (6,994) (5,003) (5,660) Equity - based compensation N/A (6,341) – N/A (3,471) (2,870) – Management contract amortization² (93)% (873) (13,007) (95)% (618) (255) (11,674) Non - operational expenses³ N/A 8,786 (23,806) N/A 8,902 (116) (24,988) Total Other Items 52% 146,073 96,118 97% 78,785 67,288 40,026 Profit before income taxes 6% (23,372) (22,063) 3% (12,012) (11,360) (11,679) (-) Income taxes⁴ 66% 122,701 74,055 136% 66,773 55,928 28,347 NET INCOME (95)% 650 12,912 (96)% 422 228 11,604 (+) Non - operational expenses (including Income Tax effect) N/A (18,992) 7,669 N/A (10,851) (8,141) 3,870 (-) Contingent consideration adjustment related to acquisitions⁵ 10% 104,360 94,636 29% 56,345 48,015 43,821 ADJUSTED NET INCOME See notes and definitions at end of document

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31 Financials - Non - GAAP Reconciliation 2Q'25 YTD 2Q'24 YTD 2Q'25 1Q'25 2Q'24 (R$ thousands, unless mentioned) 137,288 119,924 69,884 67,404 65,014 OPERATING PROFIT (20,131) (11,369) (17,054) (3,077) (9,096) (-) Net revenue from realized performance fees 8,711 3,483 8,711 – 3,483 (-) Net revenue from unrealized performance fees 5,033 3,512 3,683 1,350 2,503 (+) Compensation allocated in relation to performance fees 130,901 115,550 65,224 65,677 61,904 FEE RELATED EARNINGS (FRE) 137,288 119,924 69,884 67,404 65,014 OPERATING PROFIT (391,098) (210,589) (195,569) (195,529) (114,134) (-) Net revenue from management fees (51,073) (21,840) (26,220) (24,853) (11,481) (-) Net revenue from advisory (22,206) – (10,944) (11,262) – (-) Other revenues 64,871 42,128 33,127 31,744 23,380 (+) Bonus related to management and advisory 40,807 14,893 20,682 20,125 7,556 (+) Personnel expenses 32,854 12,030 17,423 15,431 6,535 (+) Other general and administrative expenses 38,807 991 17,792 21,015 490 (+) Placement fee amortization and rebates 156,136 46,837 78,484 77,652 25,750 (+) Corporate center expenses 6,387 4,374 4,660 1,727 3,110 PERFORMANCE RELATED EARNINGS (PRE) 137,288 119,924 69,884 67,404 65,014 OPERATING PROFIT 8,711 3,483 8,711 – 3,483 (-) Net revenue from unrealized performance fees (3,083) (1,233) (3,083) – (1,233) (+) Compensation allocated in relation to unrealized performance fees 17,861 16,785 13,576 4,285 12,379 (+) Realized gain from GP investment income 160,777 138,959 89,088 71,689 79,643 SEGMENT DISTRIBUTABLE EARNINGS 122,701 74,055 66,773 55,928 28,347 NET INCOME 8,711 3,483 8,711 – 3,483 (-) Net revenue from unrealized performance fees (1,004) (401) (1,004) – (401) (+) Income tax from unrealized performance fees (3,083) (1,233) (3,083) – (1,233) (+) Compensation allocated in relation to unrealized performance fees 2,791 (975) 2,512 279 8,128 (-) Unrealized gain from GP investment income (1,978) (704) (2,672) 694 (987) (+) Income tax on unrealized gain from GP investment income – 0 – – 0 (-) Unrealized gain from financial income – – – – – (+) Income tax on unrealized gain from financial income (22,478) 11,619 (12,932) (9,546) 5,863 (-) Contingent consideration (earn - out) gain (loss)¹ 3,486 (3,950) 2,081 1,405 (1,993) (+) Income tax on contingent consideration 12,481 3,764 6,250 6,231 1,873 (+) Depreciation and amortization 9,336 9,677 4,333 5,003 3,529 (+) Equity - based compensation 254 (241) 371 (117) 188 (-) Income Taxes on Equity - based compensation 6,197 – 3,996 2,201 – (+) Equity gain (loss) 650 12,912 422 228 11,604 (+) Non - operational expenses including income tax related to realized expense² 138,065 108,006 75,759 62,306 58,401 ADJUSTED DISTRIBUTABLE EARNINGS 475,796 240,315 241,075 234,721 131,228 TOTAL NET REVENUE FROM SERVICES RENDERED (20,131) (11,369) (17,054) (3,077) (9,096) (-) Net revenue from realized performance fees 8,711 3,483 8,711 – 3,483 (-) Net revenue from unrealized performance fees 464,377 232,429 232,733 231,644 125,615 NET REVENUE FROM MANAGEMENT FEES AND ADVISORY See notes and definitions at end of document

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32 Balance Sheet 6/30/2025 3/31/2025 Assets Current assets 189,190 163,782 Cash and cash equivalents 100,449 126,844 Cash and bank deposits 58,148 36,938 Financial instruments at fair value through profit or loss 30,593 - Financial instruments at amortized cost 1,449,809 1,488,809 Financial instruments at fair value through profit or loss 189,754 162,569 Trade receivables 645 1,770 Sub - leases receivable 11,614 11,200 Taxes recoverable 57,596 66,398 Other assets 1,898,608 1,894,528 Total current assets Non - current assets 135,644 127,710 Financial instruments at fair value through profit or loss 6,036 6,334 Financial instruments at amortized cost 6,024 15,603 Trade receivables 3,749 3,910 Sub - leases receivable 3,887 3,969 Taxes recoverable 29,254 29,889 Deferred taxes 39,323 40,287 Other receivables 223,917 227,702 55,455 53,781 Investments accounted for using the equity method 65,274 60,279 Property and equipment 126,571 135,768 Right of use - Leases 1,052,105 1,054,859 Intangible assets 1,523,322 1,532,389 Total non - current assets 3,421,930 3,426,917 Total Assets 6/30/2025 3/31/2025 Liabilities and equity Current liabilities 9,366 12,290 Trade payables 16,106 11,786 Financial instruments at fair value through profit or loss – 15,514 Deferred Revenue 31,804 35,031 Leases 35,231 36,792 Accounts payable 100,640 62,645 Labor and social security obligations 25,786 27,632 Loans and Financing 23,255 26,264 Taxes and contributions payable 242,188 227,954 Total current liabilities Non - current liabilities 110,631 116,025 Leases 6,319 8,658 Labor and social security obligations 722,617 763,298 Loans and Financing 2,839 5,237 Deferred taxes 454,387 416,135 Retirement plans liabilities 1,296,793 1,309,353 1,538,981 1,537,307 Total liabilities Equity 18 18 Share capital 2,094,601 2,097,712 Additional paid - in capital (306,608) (300,082) Treasury shares 101,177 87,214 Retained Earnings (4,443) 5,717 Other reserves 1,884,745 1,890,579 (1,796) (969) Non - controlling interests in the equity of subsidiaries 1,882,949 1,889,610 Total equity 3,421,930 3,426,917 Total liabilities and equity

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33 Notes to page 3 1) Adjusted Distributable Earnings is calculated as Distributable Earnings excluding non - operational expenses . 2) Adjusted DE per share is calculated considering the number of outstanding shares at the end of the current quarter . Last twelve months values are calculated as the sum of the last four quarters . Notes to page 5 1) FRE per share is calculated considering the number of outstanding shares at the end of the current quarter . Last twelve months values are calculated as the sum of the last four quarters . 2) Other items comprise the income/(loss) generated by financial income/(expenses) related to SPS acquisition, Ares Convertible Preferred Shares and other financial expenses . 3) Non - operational expenses are comprised of expenses related to professional services rendered in connection with acquisitions . 4) DE per share is calculated considering the number of outstanding shares at the end of the current quarter . Last twelve months values are calculated as the sum of the last four quarters . 5) Adjusted Distributable Earnings is calculated as Distributable Earnings excluding non - operational expenses . 6) Adjusted DE per share is calculated considering the number of outstanding shares at the end of the current quarter . Last twelve months values are calculated as the sum of the last four quarters . Notes to page 6 1) AUM is calculated as consolidated with double counting, due to funds from one segment investing in other segments and it's eliminated on consolidation and excluding double counting from co - managed funds between our segments . Considers assets under management and advisory . Notes to page 7 1) The preferred return w/ catch - up rule applies to funds for which the vehicle must pay back its limited partners 100 % of the invested capital corrected by the preferred return rate so it can charge performance fees . Once the preferred return rate is achieved, due to the catch - up clause, performance fees are charged over the absolute return of the fund instead of the excess return over the preferred rate . 2) Funds with preferred return must return 100 % of invested capital corrected by the preferred return rate to its limited partners in order to charge performance fees . 3) Hurdle Rate is the minimum return the fund must achieve before it can charge performance fees . In most cases, funds with hurdle rate also are under a high - water mark clause . Notes to page 9 1) GP investment income comes from proprietary investments made by Vinci Compass in its own Private Markets' funds and other closed - end funds across Equities and Global IP&S segments with long - term lockups . 2) Financial income is income generated through investments made with our cash and cash equivalents in cash and bank deposits, certificate of deposits and proprietary investments in Vinci Compass' Liquid Funds, including funds from Equities, Global IP&S, Real Assets and Credit . Notes to page 12 1) Cash and cash equivalents include cash on hand, bank deposits held with financial institutions, other short - term, highly liquid investments with original maturities of three months or less, that are readily convertible to known amounts of third - party and which are subject to an insignificant risk of changes in value . Notes and Definitions

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34 Notes to page 12 (cont'd) 2) Liquid funds' value are calculated as investment at fair value as of June 30 , 2025 , in liquid funds from Vinci Compass' Equities, Global IP&S, Credit and Real Estate . It also comprises the cash and certificate of deposits and federal bonds from Vinci Monalisa FIM . For 1 Q' 24 onwards we are not considering the funds that refer to financial products as part of the Company's retirement plans services . For more detail, see 2 Q' 25 Financial Statements filed within the SEC on August 12 , 2025 . 3) GP Fund Investments include Vinci Compass' GP investments in private market funds and other closed - end funds across Equities and Global IP&S segments with long - term lockups and Public REITs, calculated at fair value as of June 30 , 2025 . For more detail, please see the Financial Statements filed within the SEC on August 12 , 2025 . 4) Debt obligations include commercial notes, consideration payable and convertible preferred shares . For more detail, see 2 Q' 25 Financial Statements filed within the SEC on August 12 , 2025 . 5) Net Cash and Investments per share were calculated considering the number of outstanding shares at the end of each quarter . Notes to page 16 1) Upfront fees are one - time fees charged for TPD Alternative commitments . Fee - Earning Assets Under Management Ex - Upfront regards the FEAUM only from the funds which collect recurring management fees . 2) Third - Party Distribution, or TPD, stands for the funds managed by third - party asset managers, distributed by Vinci Compass' platform . 3) Other includes Pension Plans, Fund Services and Vinci Retirement Services . Notes to page 20 1) Placement Fees Amortization and Rebates in the 2 Q 25 was positive following a reversion in the accounting methodology for one of our business units Notes to page 23 1) AUM is calculated as consolidated with double counting, due to funds from one segment investing in other segments and it's eliminated on consolidation and excluding double counting from co - managed funds between our segments . Considers assets under management and advisory . Notes to page 24 1) FEAUM is measured as assets under management and advisory excluding funds that do not charge management or performance fees at any time, according to such funds' policies . FEAUM is calculated as consolidated with double counting, due to funds from one segment investing in other segments and it's eliminated on consolidation and excluding double counting from co - managed funds between our segments . Notes to page 25 1) NAV is the net asset value of each fund . For listed vehicles, the NAV represents the Market valuation of the fund . 2) Total Return Strategy includes the funds Total Return FIC FIM and Total Return Institucional FIA . 3) Mosaico Strategy includes the funds Mosaico, Mosaico Institucional and Mosaico Advisory FIA . 4) IPCA is a broad consumer price index measured by the IBGE . 5) IMAB is composed by government bonds indexed to IPCA . IMAB 5 also includes government bonds indexed to IPCA with up to 5 Years in duration . Notes and Definitions (cont'd)

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35 Notes to page 25 (cont'd) 6) Brazil stock market most relevant index . 7) S&P/BMV IPC seeks to measure the performance of the largest and most liquid stocks listed on the Mexican Stock Market . 8) S&P MERVAL Index, Argentina's flagship index, seeks to measure the performance of the largest, most liquid stocks trading on the Argentinian Stock Market . 9) CDI is an average of interbank overnight rates in Brazil (daily average for the period) . 10) CEMBI Broad Div tracks the performance of US dollar - denominated bonds issued by emerging market corporate entities . 11) The J . P . Morgan CEMBI Broad Diversified HY index tracks liquid, US Dollar emerging market fixed and floating - rate debt instruments issued by corporate, sovereign, and quasi - sovereign entities . 12) PiP Cetes 28 d is an index that invests in Cetes 28 - day securities . Cetes are Treasury Certificates issued by the Mexican government . Notes to page 26 1) NAV is the net asset value of each fund . For listed vehicles, the NAV represents the Market valuation of the fund . 2) CDI is an average of interbank overnight rates in Brazil (daily average for the period) . 3) IMAB is composed by government bonds indexed to IPCA . IMAB 5 also includes government bonds indexed to IPCA with up to 5 Years in duration . 4) IPCA is a broad consumer price index measured by the IBGE . 5) IFIX is an index composed by listed REITs in the Brazilian stock Market . Notes to page 27 1) Track record information is presented throughout this presentation on a pro forma basis and in local currency, excluding PIPE investments, a strategy that will be discontinued in VCP III . 2) Total commitments for VCP III include R $1 . 3 billion in co - investments . Track record presented for the VCP strategy as of 1 Q' 25 , due to fund's administrator timeline to disclose the quarterly markup of the fund . 3) Performance information for Nordeste Empreendedor ("NE I") comprises only the four (out of seven) investments invested, managed and divested by a team led by Jose Pano (collectively, the '"Participating Investments") while they were employed by NE I's manager (the "NE I Manager"), an entity not affiliated with the manager or Vinci Compass . Information herein pertaining to any investments made by NE I manager has not been prepared by NE I manager and NE I manager assumes no responsibility for the accuracy or completeness of any such information . 4) Track record for VIR strategy is presented as of 1 Q' 25 , due to fund's administrator timeline to disclose the quarterly markup of the fund . 5) Track record for Vinci SPS strategy is presented as of 2 Q' 25 . 6) Track record for MAV strategy is presented as of 2 Q' 25 . 7) Track record for Lacan strategy is presented as of 2 Q' 25 . 8) Track record for FIP Infra is presented as of 1 Q' 25 . 9) Track record for VIAS is presented as of 1 Q' 25 . 10) Total commitments for VICC are presented as of 1 Q' 25 . 11) Track record for VFDL is presented as of 2 Q' 25 . 12) Track record for Vinci Credit Infra is presented as of 2 Q' 25 . 13) Committed capital for VCP III and VCP IV also consider amounts of co - investments . Returns, however, consider only the amounts invested to the main funds . Notes and Definitions (cont'd)

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36 Notes to page 28 1) US $ Distributable Earnings was calculated considering the exchange rate from USD to BRL of 5 . 4254 , as of August 08 , 2025 , when dividends were approved by our Board of Directors . 2) Per Share calculations are based on end of period Participating Common Shares . 3) Actual dividends per common share are calculated considering the share count as of the applicable record date . 4) As of June 30 , 2025 , Public Float was comprised of 11 , 433 , 246 Class A common shares . Notes to page 30 1) Other items comprise the income/(loss) generated by contingent consideration adjustment and financial income/(expenses) related to acquisitions and Ares Convertible Preferred Shares . 2) Management contract amortization refers to the purchase price allocated to Fund's Management Contracts and Customer relationships, as a result of the Business Combinations . These amounts are amortized based on the duration of the related funds . When a fund has an undefined useful life, the amount allocated to these intangible assets are subject to impairment test on annually basis, or whenever any specific economic or operational condition indicates its cost must be reviewed 3) Non - operational expenses are comprised of expenses related to professional services rendered in connection with acquisitions . 4) Income taxes are comprised of taxes calculated over our corporate income tax and social contribution taxes . We are taxed on an actual taxable profit regime, while part of our subsidiaries are taxed based on deemed profit . 5) Contingent consideration adjustment (after - tax) related to acquisitions and combination with Compass reflects the change in the earn out's fair value to be paid in the future . On June 30 , 2025 , Vinci Compass revaluated the fair value of the obligation based on the economic conditions at the date, resulting in an increase of the contingent consideration fair value . The variation was recognized as a loss in the financial result . Notes to page 31 1) Contingent consideration adjustment (after - tax) related to acquisitions and combination with Compass reflects the change in the earn out's fair value to be paid in the future . On June 30 , 2025 , Vinci Compass revaluated the fair value of the obligation based on the economic conditions at the date, resulting in an increase of the contingent consideration fair value . The variation was recognized as a loss in the financial result . 2) Non - operational expenses are comprised of expenses related to professional services rendered in connection with acquisitions . Notes and Definitions (cont'd)

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37 • "Fee related earnings", or "FRE", is a metric to monitor the baseline performance of, and trends in, our business, in a manner that does not include performance fees, investment income and expenses that do not arise from our normal course of operations . FRE is calculated as operating profit, less (a) net revenue from realized performance fees, less (b) net revenue from unrealized performance fees, plus (c) share - based payments plus (d) compensation allocated in relation to performance fees plus (e) expenses relating to professional services rendered in connection with acquisitions, our business combination with Compass and our international corporate organization (which expenses were added to the calculation of FRE beginning in the year ended December 31 , 2022 to ensure the metric's usefulness as a tool to assess our ability to generate profits from revenues and expenses arising out of our normal course of operations) plus (f) the amortization of fund management contracts related to business combinations (which expenses were added to the calculation of FRE beginning in the year ended December 31 , 2024 in order to exclude depreciation expenses that are tied to specific acquisition transactions rather than our ongoing operations ; these amounts became meaningful only upon completion of the business combination with Compass and consequently we do not present such amounts for periods prior to 2024) . • "FRE Margin" is calculated as FRE divided by the sum of net revenue from management fees, net revenue from advisory services and net revenue from other revenues . • "Distributable Earnings", or "DE", is used as a reference by our board of directors to assess our performance and capabilities to distribute dividends to our shareholders . Distributable Earnings is calculated as profit for the year, less (a) net revenue from unrealized performance fees, plus (b) income taxes from unrealized performance fees, plus (c) compensation allocated in relation to unrealized performance fees, less (d) equity gain or loss on investments accounted for using the equity method, less (e) unrealized gain from investment income, plus (f) income taxes on unrealized gain from investment income, plus (g) share - based payments, less (h) income taxes on share - based payments, plus (i) depreciation and amortization, except for amortization of placement agent expenses and amortization related to retirement services investments, less (j) contingent consideration (earn - out) gain (loss) (after tax) . • "DE Margin" is calculated as Distributable Earnings divided by sum of net revenue from management fees, net revenue from performance fees, net revenue from advisory services, net revenue from other revenues and realized gain from investment income . • "Performance Related Earnings", or "PRE", is a performance measure that we use to assess our ability to generate profits from revenue that relies on outcomes from funds above their respective hurdle rates . We calculate PRE as operating profit less (a) net revenue from management fees, less (b) net revenue from advisory services, less (c) net revenue from other revenues plus (d) personnel and profit - sharing expenses, plus (e) other general and administrative expenses, less (f) compensation in relation to performance fees . • "PRE Margin" is calculated as PRE divided by net revenue from performance fees . • "Adjusted Distributable Earnings", or "Adjusted DE", is used as a reference point by our board of directors for determining the amount of earnings available to distribute to shareholders as dividends . Adjusted Distributable Earnings is calculated as Distributable Earnings, plus expenses relating to professional services rendered in connection with acquisitions, our business combination with Compass and our international corporate organization (including income tax related to realized expense) . • "Segment Distributable Earnings" is Vinci Compass' segment profitability measure used to make operating decisions and assess performance across the company's five segments (Private Equity, Global Investment Products and Solutions, Credit, Equities, Real Assets and Corporate Advisory) . Segment Distributable Earnings is calculated as operating profit less (a) net revenue from unrealized performance fees, plus (b) compensation allocated in relation to unrealized performance fees, plus (c) realized gain from GP investment income . Notes and Definitions (cont'd)

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38 • "AUM" refers to assets under management and advisory . Our AUM equals the sum of : (1) the fair market value of all funds and accounts under management and advisory by Vinci Compass, across Global IP&S, Credit, Private Equity, Equities, and Real Assets ; (2) the capital that we are entitled to call from investors in funds pursuant to the terms of their capital commitments to those funds ; and (3) the fair market value of co - investments arranged by us that were made, or could be made, by limited partners of our corporate private equity funds and portfolio companies of such funds . As a significant portion of our AUM is denominated in currencies other than Brazilian Reais, fluctuations in foreign exchange rates may cause our reported AUM to vary over time, independently of underlying asset or commitment changes . AUM includes double counting related to funds from one segment that invest in funds from another segment . Those cases occur mainly due to (a) fund, of funds of investment products and solutions segment, and (b) investment funds in general that invest part of their cash in credit segment and hedge fund segment funds in order to maintain liquidity and provide for returns on cash . Such amounts are eliminated on consolidation . The bylaws of the relevant funds prohibit double - charging fees on AUM across segments . Therefore, while our AUM by segment may double - count funds from one segment that invest in funds from another segment, the revenues for any given segment do not include revenue in respect of assets managed by another segment, which means there are no intercompany eliminations on revenues in our results of operations . • Net Cash and Investments include cash and cash equivalents and the fair value of investments in liquid funds and GP Fund Investments . Cash and cash equivalents include cash, certificate of deposits, which are issued by Banco Bradesco (credit rating AAA evaluated by Fitch Ratings) with interest rates from 99 . 5 % to 101 % of CDI . • "Total Fee Related Revenues" is a measure that we use to assess our ability to generate profits from our business without measuring for the outcomes from funds above their respective benchmarks . We calculate Total Fee Related Revenues as net revenue from services rendered less (a) net revenue from realized performance fees and less (b) net revenue from unrealized performance fees . • "Total compensation and benefits" is the result of the profit sharing paid to our employees as (a) bonus compensation related to management and advisory and (b) performance - based compensation . • "Segment personnel expenses" are composed of the salary - part compensation paid to employees and partners of our funds' management teams . • "Corporate center expenses" are composed by the salary - compensation paid to employees and other general and administrative expenses related to our support teams, such as research, risk, legal & compliance, investor relations, operations and ESG . • "Other general and administrative expenses" is made up of third - party expenses, depreciation and amortization, travel and representation, marketing expenses, administrative fees, non - operating taxes, third - party consultants' fees, such as legal and accounting, and office consumables . • "Placement fee amortization and rebates" reflects fees paid to distributors that, due to accounting procedures, are not deducted from net management fees, unlike certain other distributor fees that directly impact that line . • "GP investment income" is income from proprietary investments made by us in our own Private Markets' funds, used as GP Commitments . • "Financial income" is income generated through the investments made with our cash and cash equivalents in cash and bank deposits, certificate of deposits and proprietary investments in our liquid funds from our Equities and Global IP&S segments . • "Leasing expenses" include costs from the company's sub - leasing activities . • "Income taxes" is comprised of taxes on our corporate income tax and social contribution taxes . We are taxed on an actual taxable profit regime, while our subsidiaries are taxed based on deemed profit . Notes and Definitions (cont'd)

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39 • "Capital Subscription / (capital return)" represents the net capital commitments and capital returns from our Private Markets' closed end and listed funds . • "Net Inflows / (outflows)" represent the net inflows and outflows from our liquid funds from our Equities, Global IP&S and Credit segments . • "Appreciation / (depreciation)" represents the net capital appreciation/depreciation from our funds, which refers to the increase or decrease of the funds' investment's value . • "MOIC" means multiple on invested capital, a ratio intended to represent how much value an investment has returned, and is calculated as realized value plus unrealized value, divided by the total amount invested, gross of expenses and fees . • "IRR" means the internal rate of return, which is a discount rate that makes the net present value of all cash flows equal to zero in a discounted cash flow analysis . Notes and Definitions (cont'd)

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40 Bogota 601 748 6090 Carrera 11 # 79 – 52 Of 801, Edificio 80 - ONCE Barrio El Nogal COLOMBIA Mexico City 52 55 5010 2150 Paseo de los Tamarindos N Σ 90, Torre 1, Piso 21, 05120 MEXICO Lima 51 1 611 5350 Av. Jorge Basadre Nro. 347 Piso 09, Of 902 San Isidro PERU Miami 786 755 4860 1441 Brickell Ave Suite 1430, FL 33131 UNITED STATES Recife 55 81 3204 6811 Av. República do Líbano, 251 Sala 301 - Torre A Pina - 51110 - 160 BRAZIL Montevideo 59 8 2626 2650 WTC Free Zone 2 Dr. Luis Bonavita 1294, Of 2033. CP 11300 59 8 2628 7042 WTC Torre 4, Dr. Luis Bonavita 1266, Of 601. CP 11300 URUGUAY New York 1 - 212 - 355 7630 590 Madison Avenue 33rd Floor , NY 10022 UNITED STATES Rio de Janeiro 55 21 2159 6000 Av. Bartolomeu Mitre, 336 Leblon - 22431 - 002 BRAZIL São Paulo 55 11 3572 3700 Av. Brigadeiro Faria Lima, 2.277 14 o andar Jardim Paulistano 01452 - 000 BRAZIL Santiago 56 2 2364 4660 Av. Rosario Norte 555, Piso 14, Las Condes CHILE Buenos Aires 52 55 5010 2150 54 11 4878 8000 Carlos Pellegrini 1023, Piso 14 (C1009ABU) ARGENTINA Ribeirão Preto 55 16 2101 4641 Av. Presidente Vargas, 2.121 – Sala 106 Jardim América 14020 - 260 BRAZIL

## Exhibit 99.4

**Exhibit 99.4**

Vinci Compass Investments Ltd.

(formerly known as "Vinci Partners Investments Ltd.")

**Unaudited Interim Condensed Consolidated Financial Statements as of June 30, 2025**

**Vinci Compass Investments Ltd.**

**Consolidated balance sheets**

**All amounts in thousands of reais unless otherwise stated** 

---

| | | | |
|:---|:---|:---|:---|
| **Assets** | **Note** | **06/30/2025** | **12/31/2024** |
| **Current assets** |  |  |  |
| Cash and cash equivalents | 5(c) | **189190** | **223302** |
| &nbsp;&nbsp;&nbsp;Cash and bank deposits | 5(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99156 |
| &nbsp;&nbsp;&nbsp;Financial instruments at fair value through profit or loss | 5(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial instruments at amortized cost | 5(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3654 |
| Financial instruments at fair value through profit or loss | 5(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1449809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1531036 |
| Accounts receivable | 5(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227951 |
| Sub-leases receivable | 11 | &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;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1758 |
| Recoverable taxes |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22137 |
| Other assets | 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55273 |
| **Total current assets** |  | **1898608** | **2061457** |
| **Non-current assets** |  |  |  |
| Financial instruments at fair value through profit or loss | 5(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140824 |
| Financial instruments at amortized cost | 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6991 |
| Accounts receivable | 5(a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15901 |
| Sub-leases receivable | 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4081 |
| Recoverable taxes |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3887 | &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;704 |
| Deferred taxes | 21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31346 |
| Other assets | 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39323 | 49468 |
|  |  | **223917** | **249315** |
| Investments accounted for using the equity method | 8(b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55081 |
| Property and equipment | 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59132 |
| Right of use – Leases | 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102117 |
| Intangible assets | 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057949 |
| **Total non-current assets** |  | **1523322** | **1523594** |
| **Total assets** |  | **3421930** | **3585051** |

---

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

**Vinci Compass Investments Ltd.**

**Consolidated balance sheet**

**All amounts in thousands of reais unless otherwise stated** 

---

| | | | |
|:---|:---|:---|:---|
| **Liabilities and equity** | **Note** | **06/30/2025** | **12/31/2024** |
| **Current liabilities** |  |  |  |
| Trade payables |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11527 |
| Financial instruments at fair value through profit or loss | 5(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16106 |  |
| Leases | 11 and 5(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31804 | 33303 |
| Accounts payable | 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38667 |
| Labor and social security obligations | 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182071 |
| Loans and obligations | 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45220 |
| Taxes and contributions payable | 14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40855 |
| **Total current liabilities** |  | **242188** | **351643** |
| **Non-current liabilities** |  |  |  |
| Leases | 11 and 5(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86152 |
| Labor and social security obligations | 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8992 |
| Loans and obligations | 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816322 |
| Deferred taxes | 21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5086 |
| Retirement plans liabilities | 16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374813 |
| **Total non-current liabilities** |  | **1296793** | **1291365** |
| **Total liabilities** |  | **1538981** | **1643008** |
| **Equity** | 17 |  |  |
| Share capital |  | &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;18 | &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;18 |
| Additional paid-in capital |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2094601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2097712 |
| Treasury shares | 17(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306608) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(259773) |
| Retained earnings |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30682 |
| Other reserves |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73769 |
|  |  | **1884745** | **1942408** |
| Non-controlling interests | 8(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1796) | &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;(365) |
| **Total equity** |  | **1882949** | **1942043** |
| **Total liabilities and equity** |  | **3421930** | **3585051** |

---

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

**Vinci Compass Investments Ltd.**

**Interim consolidated statement of income<br> For the six-month period ended June 30<br> All amounts in thousands of reais unless otherwise stated** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
| **Statements of Income** | **Note** | **2025** | **2024** | **2025** | **2024** |
| Net revenue from services rendered | 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475796 | 240315 | 241075 | 131228 |
| General and administrative expenses | 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(357720) | (145206) | (182275) | (83548) |
| **Operating profit** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118076 | 95109 | 58800 | 47680 |
| Finance income | 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88959 | 54842 | 51361 | 22231 |
| Finance expenses | 20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54765) | (53833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27380) | (29885) |
| **Finance income/(expenses), net** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34194 | 1009 | 23981 | (7654) |
| Equity gain/(loss) | 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6197) |  | (3996) |  |
| **Profit before income taxes** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146073 | 96118 | 78785 | 40026 |
| Income taxes | 21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23372) | (22063) | (12012) | (11679) |
| **Profit for the period** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122701 | 74055 | 66773 | 28347 |
| **Attributable to the shareholders of the parent company** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124132 | 75076 | 67600 | 28919 |
| **Attributable to non-controlling interests** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1431) | (1021) | (827) | (572) |
| **Basic earnings per share in Brazilian Reais** | 17 (f) | **1.96** | **1.40** | **1.06** | **0.54** |
| **Diluted earnings per share in Brazilian Reais** | 17 (f) | **1.91** | **1.33** | **1.03** | **0.51** |

---

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

**Vinci Compass Investments Ltd.**

**Interim consolidated statement of comprehensive income<br> For the six-month period ended June 30<br> All amounts in thousands of reais unless otherwise stated** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Profit for the period** | **122701** | **74055** | **66773** | **28347** |
| **Other comprehensive income** |  |  |  |  |
| Items that may be reclassified to profit or loss: |  |  |  |  |
| Foreign exchange variance of investees | (33331) | 5146 | (14940) | 4116 |
| **Total comprehensive income for the period** | **89370** | **79201** | **51833** | **32463** |
| **Attributable to:** |  |  |  |  |
| Shareholders of the parent company | 90801 | 80222 | 52660 | 33035 |
| Non-controlling interests | (1431) | (1021) | (827) | (572) |
|  | **89370** | 79201 | **51833** | 32463 |

---

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

**Vinci Compass Investments Ltd.**

**Interim consolidated statement of changes in equity<br> For the six months ended June 30<br> All amounts in thousands of Brazilian Reais, unless otherwise stated**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Share**<br>**capital** | **Additional**<br>**Paid-in capital** | **Retained**<br>**earnings** | **Other**<br>**reserves** | **Treasury**<br>**shares** | <br>**Total** | **Non-controlling**<br>**interests** | **Total**<br>**equity** |
| **At January 01, 2024** | 15 | 1408438 | 111444 | 31876 | (172863) | 1378910 | 1864 | 1380774 |
| Profit for the year |  |  | 75076 |  |  | 75076 | (1021) | 74055 |
| Other comprehensive income: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange variation of investee located abroad |  |  |  | 5146 |  | 5146 |  | 5146 |
| Share based payments |  | (2735) |  | 7418 | 2735 | 7418 |  | 7418 |
| Treasury shares bought, net of shares sold |  | (144) |  |  | (31620) | (31764) |  | (31764) |
| Allocation of profit: |  |  |  |  |  |  |  |  |
| Dividends | - | - | (99335) | - | - | (99335) | - | (99335) |
| **At June 30, 2024** | 15 | 1405559 | 87185 | 44440 | (201748) | 1335451 | 843 | 1336294 |
| **At January 01, 2025** | 18 | 2097712 | 30682 | 73769 | (259773) | 1942408 | (365) | 1942043 |
| Profit for the year |  |  | 124132 |  |  | 124132 | (1431) | 122701 |
| Other comprehensive income: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange variation of investee located abroad |  |  |  | (33331) |  | (33331) |  | (33331) |
| Share based payments |  | (3111) |  | 10131 | 3111 | 10131 |  | 10131 |
| Treasury shares bought, net of shares sold |  |  |  |  | (49946) | (49946) |  | (49946) |
| Allocation of profit: |  |  |  |  |  |  |  |  |
| Dividends | - | - | (53637) | (55012) | - | (108649) | - | (108649) |
| **At June 30, 2025** | 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2094601 | 101177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4443) | (306608) | 1884745 | (1796) | 1882949 |

---

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

**Vinci Compass Investments Ltd.**

**Interim consolidated statements of cash flows<br> six-month period ended June 30<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Notes** | **06/30/2025** | **06/30/2024** |
| **Cash flows from operating activities** |  |  |  |
| **Profit before taxation** |  | 146073 | 96118 |
| Adjustments to reconcile net income to cash flows from operations: |  |  |  |
| Depreciation and amortization | 19 | 28514 | 11054 |
| Investment income and exchange variation of financial instruments at fair value through profit or loss |  | 23325 | (41192) |
| Net foreign exchange on liabilities at amortized cost | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15(i) | (74133) | 72530 |
| Interest expense on loans and obligations | 20 | 31541 | 30425 |
| Loss/(gain) on remeasurement of contingent consideration | 20 | (22478) | 11619 |
| Share based payments | 19 | 11997 | 11808 |
| Financial result on lease agreements | 20 | 7369 | 3962 |
| Equity gains/(losses) | 8(b) | 6197 |  |
| Other adjustments |  | (233) | - |
|  |  | **158172** | **196324** |
| Changes in assets and liabilities |  |  |  |
| Accounts receivables |  | 48074 | 32568 |
| Taxes recoverable |  | 7340 | (3161) |
| Other assets |  | 32777 | (13023) |
| Trade payables |  | (2161) | (496) |
| Accounts payable |  | (28748) | 214 |
| Labor and social security obligations |  | (85972) | (49275) |
| Taxes and contributions payable |  | (16953) | 649 |
| Purchases of financial instruments related to retirements plans |  | (50331) | (146819) |
| Contribution for retirements plans |  | 52192 | 141646 |
| Deferred taxes |  | (451) | - |
|  |  | **(44233)** | **(37697)** |
| **Cash generated from operations** |  | **113939** | **158627** |
| Income tax paid |  | (29232) | (29854) |
| **Net cash inflow from operating activities** |  | **84707** | **128773** |
| **Cash flows from investing activities** |  |  |  |
| Purchases of property and equipment and additions to intangible assets |  | (19862) | (7368) |
| Purchase of financial instruments at fair value through profit or loss |  | (124621) | (227181) |
| Sales of financial instruments at fair value through profit or loss |  | 266202 | 210826 |
| Payment for acquisition of subsidiary |  |  | (5000) |
| Cash and cash equivalent acquired in business combination |  |  | 285 |
| Purchase and sales of financial instruments at amortized cost |  | (8073) |  |
| Capital increase in joint ventures investments | 8(b) | (9917) |  |
| **Net cash (outflow) from investing activities** |  | **103729** | **(28438)** |
| **Cash flows from financing activities** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest payments of loans and obligations | 15 | (27499) | (21947) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal payments of loans and obligations | 15 | (15734) | (8889) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury shares acquisition paid, net of treasury shares sold | 17(e) | (49458) | (31718) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease payments, net of sublease received |  | (15948) | (11301) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends paid | 17(d) | (107750) | (101234) |
| **Net cash (outflow) from financing activities** |  | **(216389)** | **(175089)** |
| **Net decrease in cash and cash equivalents** |  | (27953) | (74754) |
| **Cash and cash equivalents at the beginning of the year** | 5(c) | 223302 | 660305 |
| Foreign exchange variation of cash and cash equivalents in subsidiary |  | (6159) | 6757 |
| **Cash and cash equivalents at the end of the year** | 5(c) | **189190** | **592308** |

---

Non-cash financing activities:

Dividends declared and not yet paid until June 30, 2025 and 2024 were R$2,696 and R$3,791 (Note 12), respectively. Consideration payable and contingent consideration (earn-out) as of June 30, 2025 and 2024 were 193,801 and 154,682 (Note 15), respectively. Vinci expects to pay the contingent consideration through its equity instruments. However, accordingly to IAS 32, the earn-out obligation was classified as a financial liability.

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

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

1 Operations

Vinci Compass Investments Ltd., formerly known as Vinci Partner Investments Ltd., is an exempted entity incorporated in the Cayman Islands (referred to herein as "Entity", "Group" or "Vinci Compass"). On July 9, 2025, Vinci Partners Investments Ltd. changes its name to Vinci Compass Investments Ltd. The Group started its activities in September 2009. Its objective is to hold investments in the capital of other companies as partner (shareholder). The investees are specialized in rendering alternative investment management, asset allocation, corporate advisory services, distribution services and retirement services.

The registered office of the Entity is at Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour Place, 103 South Church Street, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands.

On March 07, 2024, Vinci Compass announced an agreement for a business combination with Compass and on October 29, 2024, the transaction was completed, creating a full-service Latin American alternative asset manager with more than US$50 billion in assets under management. Please see note 8(a) further detail regarding the transaction.

---

| | |
|:---|:---|
| **2** | **Summary of significant accounting policies** |

---

**2.1** **Basis of preparation and presentation** 

The unaudited interim condensed consolidated financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board ("IASB").

The unaudited interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group's annual consolidated financial statements as of December 31, 2024.

The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period.

The unaudited interim condensed consolidated financial statements are presented in Brazilian reais ("R$"), and all amounts disclosed in the financial statements and notes have been rounded off to the nearest thousand currency units unless otherwise stated.

The interim condensed consolidated financial statements of the Group of June 30, 2025 were approved by the Entity's management on August 12, 2025.

The Group's annual audited consolidated financial statements were issued on February 26, 2025.

**(a)** **Interim consolidated financial statements** 

Vinci Compass operates as an asset management firm. The Group focuses on private equity, real assets, credit, equities, corporate advisory and investment products and solutions, which comprise the main activity of the Group.

The Group controls an entity where the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity.

Also, the Entity holds interest in subsidiaries whose main purpose and activities are providing services that relate to the Entity's activities. Therefore, the Entity consolidates these subsidiaries.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

Ownership interest in subsidiaries on June 30, 2025 and December 31, 2024 are as follows:

---

| | | |
|:---|:---|:---|
|  | **Interest - %** | **Interest - %** |
|  | **06/30/2025** | **12/31/2024** |
| **Subsidiaries** |  |  |
| Vinci Partners Investimentos Ltda. | 100 | 100 |
| Vinci Assessoria Financeira Ltda. (1) | 100 | 100 |
| Vinci Equities Gestora de Recursos Ltda. (1) | 100 | 100 |
| Vinci Gestora de Recursos Ltda. (1) | 100 | 100 |
| Vinci Capital Gestora de Recursos Ltda. (1) | 100 | 100 |
| Vinci Soluções de Investimentos Ltda. | 100 | 100 |
| Vinci Real Estate Gestora de Recursos Ltda. (1) | 100 | 100 |
| Vinci Capital Partners GP Limited. | 100 | 100 |
| Vinci Partners USA LLC | 100 | 100 |
| Vinci GGN Gestão de Recursos Ltda. (1) | 100 | 100 |
| Vinci Infraestrutura Gestora de Recursos Ltda. | 100 | 100 |
| Vinci Capital Partners Fund III GP Limited | 100 | 100 |
| GGN GP LLC | 100 | 100 |
| Vinci APM Ltda. (1) | 100 | 100 |
| Vinci Monalisa FIM Crédito Privado IE (2) | 100 | 100 |
| Vinci Asset Allocation Ltda. | 75 | 75 |
| VICC Infra GP LLC | 100 | 100 |
| Vinci Capital Partners IV GP LLC | 100 | 100 |
| Vinci Holding Securitária Ltda. | 85 | 85 |
| Vinci Vida e Previdência S.A. (3) | 85 | 85 |
| Vinci SPS Capital Gestão de Recursos Ltda. (4) | 100 | 100 |
| VICC Infra GP (Lux), S.A.R.L. | 100 | 100 |
| VINCI US RE Corporation (5) | 98 | 98 |
| MAV Capital Gestora de Recursos SS Ltda. (6) | 100 | 100 |
| ICML Gestão de Negócios e Participações SS Ltda. (6) | 100 | 100 |
| Lacan Administração de Bens e Participações Ltda. (7) | 100 | 100 |
| Lacan Investimentos e Participações Ltda. (7) | 100 | 100 |
| SPS IV GP LLC | 100 | 100 |
| MNC Holdings Limited (8) | 100 | 100 |
| Investis Asset Management S.A. (8) | 100 | 100 |
| Compass Group S.A. (8) | 100 | 100 |
| CG Investimentos Brazil Ltda (8) | 100 | 100 |
| Compass Investments Brazil LLC (8) | 100 | 100 |
| Vinci Compass Chile SpA (8) | 100 | 100 |
| Vinci Compass Inversiones SpA (8) | 100 | 100 |
| Compass Group Chile S.A. Administradora General De Fondos (8) | 100 | 100 |
| VC Servicios Financieros SpA (8) | 100 | 100 |
| Compass Group S.A. Asesores de Inversion (8) | 100 | 100 |
| VC Asesorias e Inversiones SpA (8) | 100 | 100 |
| VC Distribución Institucional SpA (8) | 100 | 100 |
| Compass Group Chile Spa (8) | 100 | 100 |
| Compass Group SA Comisionista de Bolsa (8) | 100 | 100 |
| VC Asesores De Inversión Colombia S.A.S (8) | 100 | 100 |
| Compass Investmenst De Mexico S. A. de C. V. Sociedad Operadora de Fondos de Inversion (8) | 100 | 100 |
| Compass Investmenst Corporativo S.A. de C.V. (8) | 100 | 100 |
| CDI Sociedad Administradora de Proyectos S.A. De C.V (8) | 100 | 100 |
| MB Property Management Mexico S de RL De C.V. (8) | 100 | 100 |
| CDI Sociedad Desarrolladora de Proyectos S.A. de C.V. (8) |  | 100 |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| Compass Group Holding S.A.P.I de C.V. (8) | 100 |
| Compass Servicios Operativos S de RL de C.V. (8) | 100 |
| Compass Desarrollo Inmobiliario S.A. de C.V. (8) | 100 |
| Compass Latin America Investments LLC (Delaware) (8) | 100 |
| Compass Capital Consultants S.A.C. (8) | 100 |
| Compass Peru S.A. (8) | 100 |
| Compass Group S.A.F. S.A. (8) | 100 |
| Compass Group Global Advisors S.A. (8) | 100 |
| Compass Group Uruguay Investment Advisors S.A. (8) | 100 |
| Bunara S.A. (8) | 100 |
| Cipresi S.A. (8) | 100 |
| CG Global Services S.A. (8) | 100 |
| Compass Group LLC Establecimiento Permanente en Chile (8) | 100 |
| Compass Group LLC (8) | 100 |
| CG Compass (USA) LLC (8) | 100 |
| Compass Group Holdings Inc (8) | 100 |
| Compass Group Investments Solutions LLC (8) | 100 |
| Compass Group Asset Management Holdings S.L.U. (8) | 100 |
| CDI Mexican Investments Ltd (8) | 100 |
| Compass GP Luxemburgo (8) | 100 |
| Inversiones La Esmeralda SpA (8) | 100 |
| Compass GSO COF IV Solutions GP Ltd (8) | 100 |
| Compass BXLS V Solutions GP (8) | 100 |
| Compass SP Solutions GP (8) | 100 |
| Compass LCP X Solutions GP (8) | 100 |
| Compass Secondaries Solutions (8) | 100 |
| Compass Capital (Cayman) (8) | 100 |
| Compass BCP Asia II Solutions (8) | 100 |

---

(1) Minority interest represents less than 0.001%.

(2) Under the terms of IFRS 10, the Entity classifies Vinci Monalisa
FIM Crédito Privado IE as an investment entity. Accordingly, the Entity does not consolidate its investment and measures at fair
value through profit or loss in accordance with IFRS 9.

(3) Vinci Compass has an indirect interest at Vinci Vida e Previdência
of 85% through its subsidiary Vinci Holding Securitária Ltda., which holds 100% of ownership interest at Vinci Vida e Previdência.

(4) On 16 August 2022, Vinci Soluções de Investimentos
Ltda. acquired 90% of the issued share capital of SPS Capital Gestão de Recursos Ltda. The acquisition gives to Vinci Soluções
de Investimentos the right of 100% on the economic interest of SPS Gestão de Recursos Ltda.

(5) Under the terms of IFRS 10, the Entity classifies Vinci US RE
Corporation as an investment entity. Accordingly, the Entity does not consolidate its investment and measures at fair value through profit
or loss in accordance with IFRS 9.

(6) On 29 June 2024, Vinci Gestora Recursos Ltda. acquired 30% of
the issued share capital of MAV Capital Gestora de Recursos Ltda. and 100% of the issued share capital of ICML Gestão de Negócios
e Participações SS Ltda. Vinci Compass has direct and indirect interest on MAV Capital Gestora de Recursos SS Ltda. Vinci
Compass has indirect interest through its ownership interest on ICML Gestão de Negócios e Participações SS
Ltda., which holds 70% of ownership interest at MAV.

(7) Subsidiaries consolidated after Lacan business combination.
Please see note 8(a)(iii) for further details of the transaction.

(8) Subsidiaries consolidated after Compass business combination.
Please see note 8(a)(ii) for further details of the transaction.

Subsidiaries are all entities (including structured entities) over which the Group has control. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases.

Inter-company transactions, balances and unrealized gains on transactions between Group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.

Non-controlling interest in the results and equity of subsidiaries are shown separately in the consolidated statement of profit or loss, consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated balance sheet respectively.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

The Group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of the Group. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of adjustment to non-controlling interests and any consideration paid or received is recognized in another reserve within equity attributable to owners of Entity.

When the Group ceases to consolidate an investment or account for it under equity method because of a loss of control, joint control or significant influence, any interest retained in the entity is remeasured to its fair value, with the change in carrying amount recognized in profit or loss. This fair value becomes the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity are accounted for as if the group had directly disposed of the related assets or liabilities. This may mean that amounts previously recognized in other comprehensive income are reclassified to profit or loss.

**<u>Reclassification for better presentation</u>**

The Group revaluated the information provided in the statement of cash flow for the period ended on June 30, 2024, and reclassified the purchases of the financial instruments related to retirement plans, in the amount of R$146,819, from investment activity to operational activity. The reclassification was made to reflect in the same cash flow activity the contributions and the investments related to the retirement plans as the Group understands that its operating activity comprises the management of such plans with the resources provided from the contributors of the retirement plan which are comprised by resources that are exclusively from third parties.

**2.2** **Segment reporting** 

Under the supervision of the Board of Directors, the CEO is responsible for the decision-making process related to executive themes, resources allocation and strategic decisions of Vinci Compass.

The strategic decisions of the Group comprise six distinct business segments: (i) Private Equity, (ii) Equities, (iii) Real Assets; (iv) Credit; (v) Global IP&S; and (vi) Corporate Advisory (see Note 23). Strategies were sorted out within business segments following technical and strategic similarities among funds' attributes, such as management and performance fee structures, liquidity constraints, targeted returns and investor profile.

---

| | |
|:---|:---|
| **3** | **Accounting estimates and judgments** |

---

The Entity makes estimates and assumptions concerning the future, based on historical experience and other factors, including expectations of future events. The resulting accounting estimates will, by definition, seldom equal the related actual results. The main estimations and assumptions made by the Entity are included as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Allowance of expected credit losses of accounts receivable.

&nbsp;&nbsp;&nbsp;&nbsp;• Provision for profit sharing.

&nbsp;&nbsp;&nbsp;&nbsp;• Fair value measurement of financial assets.

&nbsp;&nbsp;&nbsp;&nbsp;• Provision for contingent liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;• Impairment for goodwill and other intangible assets.

&nbsp;&nbsp;&nbsp;&nbsp;• Fair value measurement of contingent consideration.

&nbsp;&nbsp;&nbsp;&nbsp;• Fair value of share-based payments.

&nbsp;&nbsp;&nbsp;&nbsp;• Financial evaluation of compound instruments.

&nbsp;&nbsp;&nbsp;&nbsp;• Estimated useful lives for fixed and intangible assets.

&nbsp;&nbsp;&nbsp;&nbsp;• Estimative and assumptions related to lease contracts, including
variable considerations, evaluation of implicit interest rate and extensions options.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **4** | **Financial risk management** |

---

The main risks related to the financial instruments are credit risk, market risk, and liquidity risk, as defined below. The management of such risks involves various levels in the Entity and comprehends a number of policies and strategies. The Group's risk management focuses on the unpredictability of financial markets and seeks to mitigate potential adverse impacts on the Group's financial performance.

**4.1** **Financial risk factors** 

This note explains the Group's exposure to financial risks and how these risks could affect the Group's future financial performance. Current year profit and loss information has been included where relevant to add further context.

The Group's risk management is predominantly controlled by a risk assessment department under process and controls approved by the management. The management provides written process and controls for overall risk management, as well as policies covering specific areas, such as foreign exchange risk, interest rate risk, credit risk, use of derivative financial instruments and non-derivative financial instruments, and investment of excess liquidity.

**(a)** **Credit risk** 

Credit risk arises from cash and cash equivalents, contractual cash flows of debt investments carried at amortized cost, at fair value through profit or loss (FVTPL), and deposits with banks and financial institutions, as well as credit exposures to wholesale and retail customers, including outstanding receivables.

(i) Risk management

As of June 30, 2025, and December 31, 2024 the expected credit losses are considered immaterial due to the short maturities of the deposits and the credit quality of the counterparties, which have investment-grade evaluated by credit agencies. The Entity has not suffered any losses from cash and cash equivalents since inception. Vinci Compass's treasury review expected credit losses on a regular basis.

(ii) Impairment of financial assets

The Group has the following types of financial assets that are subject to the expected credit loss model:

&nbsp;&nbsp;&nbsp;&nbsp;• Accounts receivable.

&nbsp;&nbsp;&nbsp;&nbsp;• Loans and receivables from employees evaluated at amortized
cost.

While cash and cash equivalents are also subject to the impairment requirements of IFRS 9, the expected impairment loss was immaterial.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**(b)** **Market risk** 

(i) Foreign exchange risk

At the reporting date, the carrying amount of the Group's financial assets and liabilities exposed to other currencies were as follows:

---

| | | |
|:---|:---|:---|
| **Balance sheet** | **06/30/2025** | **12/31/2024** |
| Cash and cash equivalents | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121692 | 96259 |
| Financial instruments at fair value through profit or loss | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217561 | 102626 |
| Accounts receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44189 | 171744 |
| Taxes recoverable | &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;4486 | 18940 |
| Other receivables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21159 | 25921 |
| **Current assets** | **409087** | **415490** |
| Financial instruments at fair value through profit or loss | &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;117675 | 120846 |
| Intangible assets | &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;&nbsp;&nbsp;&nbsp;&nbsp;15887 |  |
| Financial instruments at amortized cost | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1828 | 6991 |
| Other receivables | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | 1949 |
| Investments accounted for using the equity method | &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;&nbsp;&nbsp;&nbsp;&nbsp;55455 | 55081 |
| Deferred taxes | &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;&nbsp;&nbsp;&nbsp;&nbsp;11479 | 10313 |
| Lease, property and equipment | &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;&nbsp;&nbsp;&nbsp;&nbsp;62727 | 89130 |
| **Non-current assets** | &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;265051 | **284310** |
| Trade payables | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2547 | 11527 |
| Leases | &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;&nbsp;&nbsp;&nbsp;&nbsp;42105 | 12038 |
| Accounts payable | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403 | 6402 |
| Loans and obligations | &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;&nbsp;&nbsp;&nbsp;&nbsp;33878 | 7200 |
| Labor and social security obligations | &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;&nbsp;&nbsp;&nbsp;&nbsp;44396 | 69235 |
| Taxes and contributions payable | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3221 | 19705 |
| **Current 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;127550 | **126107** |
| Other payables | &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;&nbsp;&nbsp;&nbsp;&nbsp;- | 309 |
| Loans and obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556624 | 577982 |
| Lease | &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;- | 40531 |
| Labor and security obligations |  | 341 |
| Related parties | 2625 |  |
| Deferred taxes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9712 | 496 |
| **Non-current liabilities** | **568961** | **619659** |
| **Net Equity exposed to other currencies** | **(22373)** | **(45966)** |
| **Net Equity exposed to US Dollars** | **(125896)** | **(260868)** |
| **Net Equity exposed to Euros** | **2207** | **2096** |
| **Net Equity exposed to Pounds** | **(4361)** | **15445** |
| **Net Equity exposed to Chilean Pesos** | **55865** | **120484** |
| **Net Equity exposed to Uruguayan Pesos** | **4865** | **1239** |
| **Net Equity exposed to Colombian Pesos** | **5094** | **13352** |
| **Net Equity exposed to Argentine Pesos** | **(634)** | **12706** |
| **Net Equity exposed to Mexican Pesos** | **17895** | **11366** |
| **Net Equity exposed to Peruvian Sols** | **22592** | **38214** |

---

In addition to the net assets presented in the table above, Vinci Compass Investments Ltd and Vinci Monalisa FIM Crédito Privado IE hold non-deliverable forwards contracts exposed do US Dollars in the amount of R$331,246 (US$60,7 million) as of June 30, 2025. Please see note 5(d)(ii) for more detail.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

The aggregate net foreign exchange gains/losses recognized in profit or loss were:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
| **Net foreign exchange result** | **2025** | **2024** | **2025** | **2024** |
| Financial revenue | 12423 |  | 11283 |  |
| Financial expense |  | (7073) |  | (6459) |
| **Net foreign exchange result, net** | **12423** | **(7073)** | **11283** | **(6459)** |

---

The Group operates internationally and is exposed to foreign exchange risk.

Foreign exchange risk arises from future commercial transactions and recognized assets and liabilities denominated in a currency that is not the functional currency of the Group.

(ii) Interest rate risk

The Group's profit or loss is sensitive to higher/lower interest income from cash equivalents and fixed income funds as a result of changes in interest rates.

(iii) Price risk

The Group's exposure to investment securities price risk arises from investments held by the group and classified in the balance sheet at fair value through profit or loss (note 5).

To manage its price risk arising from investments in investment securities, the Group diversifies its portfolio. Diversification of the portfolio is done in accordance with the limits set by the Group. Note 4(d) demonstrates the sensitivity analyses of impact for the assets held by the Group.

**(c)** **Liquidity risk** 

Prudent liquidity risk management implies maintaining sufficient cash and marketable securities and the availability of funding through an adequate amount of committed credit facilities to meet obligations when due and to close out market positions. At the end of the reporting period the Group held bank deposits, certificates of deposits and US treasury bills of R$189,190 (12/31/2024 – R$223,302) that are expected to readily generate cash inflows for managing liquidity risk.

Net debt reconciliation

This section sets out an analysis of net debt and the movements in net debt for each of the years presented.

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Cash and cash equivalents | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223302 |
| Financial instruments at fair value through profit or loss | &nbsp;&nbsp;&nbsp;&nbsp;1449809 | &nbsp;&nbsp;&nbsp;&nbsp;1531036 |
| Trade payables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11527) |
| Labor and social security obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(106959) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(191063) |
| Accounts payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35231) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38667) |
| Lease liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142435) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(119455) |
| Convertible preferred shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(506017) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(577982) |
| Commercial notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46571) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55150) |
| Consideration payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5613) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10542) |
| Other obligations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2014) | (7202) |
| Retirement plans liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(454387) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(374813) |
| **Net debt** | **330406** | **367937** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

The contingent consideration was not included in the net debt calculation since, subjected to certain conditions, the obligation will be settled by shares held in treasury or shares to be issued by Vinci Compass.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Financial liabilities** | **Financial liabilities** | **Financial liabilities** | **Financial liabilities** | **Other assets** | **Other assets** |
|  | **Payables** | **Loans and obligations** | **Retirement plans** | **Lease liabilities** | **Cash and cash equivalents** | **Financial instruments at fair value through profit or loss** |
| **Net debt as at** | | | | | | |
| **December 31, 2023** | **(114752)** | **(617092)** | **(85554)** | **(72812)** | **660305** | **1168355** |
| Cash flow and dividends provision | (126505) | 112315 | (279770) | 29406 | (512354) | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269443 |
| Fair value adjustment |  | (37998) | (9489) |  | 31955 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93238 |
| Addition and finance expenses accrual |  | (184292) |  | (76049) |  |  |
| Foreign exchange adjustments | - | (134475) | - | - | 43396 | - |
| **December 31, 2024** | **(241257)** | **(861542)** | **(374813)** | **(119455)** | **223302** | **1531036** |
| Cash flow and dividends provision | 89701 | 41749 | (52191) | 18365 | (36190) | (89572) |
| Fair value adjustment |  | 5008 | (27383) |  | 5051 | 8345 |
| Addition and finance expenses accrual |  | (7751) |  | (41344) |  |  |
| Foreign exchange adjustments | - | 74133 | - | - | (2973) | - |
| **June 30, 2025** | **(151556)** | **(748403)** | **(454387)** | **(142435)** | **189190** | **1449809** |

---

***Maturities of financial liabilities***

Except for the retirement plans liabilities, the tables below analyze the Group's financial liabilities into relevant maturity groupings based on their contractual maturities for significant financial liabilities.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contractual maturities of<br> financial liabilities <br> at June 30, 2025** | **Less than 1 year** | **Between 1 and 3 years** | **Over 3 years** | **Total** | **Carrying amount** |
| Trade payables | (9366) |  |  | **(9366)** | **(9366)** |
| Labor and social security obligations | (100638) | (6319) |  | **(106957)** | **(106957)** |
| Lease liabilities | (31804) | (54271) | (115219) | **(201293)** | **(142435)** |
| Accounts payable | (35231) |  |  | **(35231)** | **(35231)** |
| Loans and financing | (55045) | (168401) | (973330) | **(1196776)** | **(748403)** |
| **Total** | **(232084)** | **(228991)** | **(1088549)** | **(1549623)** | **(1042392)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contractual maturities of<br> financial liabilities <br> at December 31, 2024** | **Less than 1 year** | **Between 1 and 3 years** | **Over 3 years** | **Total** | **Carrying amount** |
| Trade payables | (11527) |  | **-** | **(11527)** | **(11527)** |
| Labor and social security obligations | (182071) | (6372) | (2620) | **(191063)** | **(191063)** |
| Lease liabilities | (33303) | (40669) | (60054) | **(134025)** | **(119455)** |
| Accounts payable | (38667) |  | **-** | **(38667)** | **(38667)** |
| Loans and financing | (72303) | (150003) | (1065615) | **(1287921)** | **(861542)** |
| **Total** | **(337871)** | **(197044)** | **(1128289)** | **(1663203)** | **(1222254)** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**(d)** **Sensitivity analysis** 

The Group monitors and evaluates the market risk related to its financial investments portfolio periodically to assess its volatility, through changes that can significantly impact on its financial results. Considering a period of one day and the historical results over the past year, the following Value at Risk (VAR) parameters were used:

● -0.50% (or R$ -5.9 million) of the financial investment portfolio for a confidence interval of 95% on June 30, 2025 (0.17% or R$2.4 million on December 31, 2024).

● -0.67% (or R$ -7.9 million) of the financial investment portfolio for a confidence interval of 99% on June 30, 2025 (0.27% or R$3.8 million on December 31, 2024).

Additionally, the Group evaluated the financial investment portfolio on June 30, 2025 and December 31, 2024, through stress scenarios according to the main risk factors related to its investments, as presented in the table below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | | **Financial Impact (\*\*)** | **Financial Impact (\*\*)** |
| <br>**Risk Factor** | <br>**Variation in** | <br>**Stress Scenario (\*)** | **06/30/2025** | **12/31/2024** |
| Current inflation | Inflation index | -100bps | 3.7 | 3.1 |
| Exchange traded real estate funds | Share prices | -10% | (15.2) | (12.4) |
| Brazilian stock prices | Share prices | -10% | (3.7) | (4.4) |
| Fixed-rate offshore rates | US yield curve | -100bps | (45.4) | (53.0) |
| Foreign exchange rate | Foreign exchange rates | 10% (\*\*\*) | (7.9) | (9.4) |
| Domestic base overnight rate | Domestic base overnight rate | -100bps | (2.1) | (4.2) |

---

(\*) bps - basis point (1bps = 0,01%)

(\*\*) In millions of Brazilian reais

(\*\*\*) Brazilian reais devaluation against US Dollars

An equal change in the opposite direction of the stress scenario would have affected the financial investment portfolio by a similar amount, on the basis that all other variables remain constant.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **5** | **Financial instruments** |

---

This note provides information about the group's financial instruments, including:

- an overview of all financial instruments held by the Group

- specific information about each type of financial instrument

- accounting policies

- information about determining the fair value of the instruments, including judgements and estimation uncertainty involved.

The Group classifies its financial assets in the following measurement categories:

● those measured at fair value or through profit or loss, and

● those measured at amortized cost.

The classification depends on the entity's business model for managing the financial assets and the contractual terms of the cash flows.

For assets measured at fair value, gains and losses will be recorded in profit or loss.

*<u>Recognition and derecognition</u>*

Regular way purchases and sales of financial assets are recognized on the trade date, being the date on which the group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the group has transferred substantially all the risks and rewards of ownership.

*<u>Measurement</u>*

At initial recognition, the group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss.

The Group holds the following financial instruments:

---

| | | |
|:---|:---|:---|
| **Financial assets** | **06/30/2025** | **12/31/2024** |
| Accounts receivable (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243852 |
| Other financial assets at amortized cost (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43487 | 44342 |
| Cash and cash equivalents (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223302 |
| Financial assets at fair value through profit or loss (FVPL) (d) | &nbsp;&nbsp;&nbsp;&nbsp;1585453 | &nbsp;&nbsp;&nbsp;&nbsp;1671860 |
|  | **2013908** | **2183356** |
| **Financial liabilities** |  |  |
| Financial liabilities at fair value through profit or loss (FVPL) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16106 |  |
| Liabilities at amortized cost (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241257 |
| Lease liabilities (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119455 |
| Loans and financing (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861542 |
| Retirement plans liabilities (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454387 | 374813 |
|  | **1512887** | **1597067** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

The Group's exposure to risks associated with the financial instruments is discussed in Note 4. The maximum exposure to credit risk at the end of the reporting period is the carrying amount of each class of financial assets mentioned above.

&nbsp;&nbsp;&nbsp;&nbsp;a) Accounts receivable

---

| | | |
|:---|:---|:---|
| **Current assets** | **06/30/2025** | **12/31/2024** |
| Accounts receivable from contracts with customers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228583 |
| Loss allowance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(632) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(632) |
| **Non-current assets** |  |  |
| Accounts receivable from contracts with customers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15901 |
|  | **195778** | **243852** |

---

Accounts receivables are recognized initially at the amount of consideration that is unconditional and are not submitted to any financial components. They are subsequently measured at amortized cost, less loss allowance.

Current accounts receivable are amounts due from customers for services performed in the ordinary course of business. They are generally due for settlement within 30 days and are therefore classified as current in their entirety. Due to the short-term nature of the current receivables, their carrying amount is considered to be the same as their fair value.

Non-current accounts receivable comprised by unrealized performance fees and other receivables. Unrealized performance fees are recognized when the management, with accumulated experience, estimates that it is highly probable that a significant reversal will not occur. Vinci Compass expects the amounts receivable related to unrealized performance fees to be collected in 2025. However, due to uncertainties regarding their realization, the balance has been classified as non-current

Monthly, the Entity evaluates the revenues and receipts for each customer (Funds). Additionally, on a quarterly basis Vinci Compass analyzes the outstanding balances to calculate expected credit losses and the exposure to credit risk from receivables are reviewed. Accounts receivable allowance for expected credit losses are presented in general and administrative expense.

The loss allowances for accounts receivable as of June 30, 2025 and December 31, 2024 reconcile to the opening loss allowances as follows:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| **Opening loss allowance on January 1** | **(632)** | **(150)** |
| Loss allowance assumed as a result of business combination |  | (491) |
| Decrease in accounts receivable allowance recognized in profit or loss | - | 9 |
| **Closing loss allowance on December 31** | **(632)** | **(632)** |

---

Accounts receivables are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan with the group, and a failure to make contractual payments. The Entity wrote off R$91 in accounts receivable during the second quarter of 2025. Subsequent recoveries of amounts previously written off are credited against the same line item.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

&nbsp;&nbsp;&nbsp;&nbsp;b) Other financial assets at amortized cost

Financial assets at amortized cost refer to the following debt instruments:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Employees loans (Note 7 (iii)) | 15406 | 15100 |
| Receivable from employees (Note 7 (i)) | 28081 | 29242 |

---

These amounts generally arise from transactions outside the usual operating activities of the group. Interest may be charged at commercial rates and collateral is not normally obtained.

All the financial assets at amortized cost are denominated in Brazilian currency units. As a result, there is no exposure to foreign currency risk. There is also no exposure to price risk as the investments will be held to maturity.

See note 6 for more details.

&nbsp;&nbsp;&nbsp;&nbsp;c) Cash and cash equivalents

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Cash and bank deposits | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100,449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99,156 |
| Financial instruments at fair value through profit or loss (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58,148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120,492 |
| Financial instruments at amortized cost (ii) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30,593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,654 |
|  | **189,190** | **223,302** |

---

For the purpose of presentation in the statement of cash flows, cash and cash equivalents include cash on hand, bank deposits held at financial institutions, and highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

(i) Comprises certificates of deposits issued by Banco Bradesco (National Long Term Rating AAA evaluated by Fitch Ratings) with an interest rate of 100% of CDI (interbank deposit rate). The certificates are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Comprised of US Treasury Bills.

&nbsp;&nbsp;&nbsp;&nbsp;d) Financial assets and liabilities at fair value through profit or loss

The group classifies the following financial assets and liabilities at fair value through profit or loss (FVPL):

- Mutual funds;

- Private markets funds;

- Real Estate Investments;

- Derivatives financial instruments;

- Listed equity securities.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

Financial assets and liabilities measured at FVPL include the following categories:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| **Current assets** | **1449809** | **1531036** |
| Mutual funds (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1444945 | 1519524 |
| Derivative financial assets (ii) | &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;2014 | 5647 |
| Listed equity securities | &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;105 | 2836 |
| Real Estate Investments (iv) | &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;2745 | 2923 |
| Other financial assets | &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;&nbsp;&nbsp;&nbsp;&nbsp;- | 106 |
| **Non-current assets** | **135644** | **140824** |
| Mutual funds | &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;14554 | 9919 |
| Private markets funds (iii) | &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;29410 | 30189 |
| Real Estate Investments (iv) | &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;90234 | 99341 |
| Listed equity securities | &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;1446 | 1375 |
| **Current liabilities** | **16106** | **-** |
| Derivative financial liabilities (ii) | &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;16106 |  |

---

The following table demonstrates the funds invested included in each category mentioned above.

---

| | | |
|:---|:---|:---|
| **(i) Mutual funds** | | |
|  | <br>**06/30/2025** | <br>**12/31/2024** |
| **Current assets** | **1444945** | **1507177** |
| Vinci Monalisa FIM Crédito Privado IE (2) | &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;895769 | 1025462 |
| Vinci Multiestratégia FIM | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578 | 1038 |
| Compass Lapco Fondo De Inversion Serie B | &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;6016 |  |
| Vinci Institucional FI RF Referenciado DI | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | 3028 |
| Vinci Income Fund Ltd | &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;28077 | 31150 |
| Vinci Argentina Opportunity Fund II | &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;14868 | 17120 |
| Vinci Reservas Técnicas FI RF DI | &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;15175 | 16392 |
| Retirement services investment funds (1) | &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;454387 | 374813 |
| FI Vinci Renda Fixa CP | &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;8842 | 7676 |
| Fondo Mutuo Compass Liquidez | &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;4037 | 14862 |
| LV Money Market USD | &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;7536 | 5592 |
| Other mutual funds | &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;9660 | 10044 |
| **Non-current assets** | **14554** | **22266** |
| Compass - Fondo de Inversión Adelanto de Efectivo | &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;11453 | 12347 |
| Other mutual funds | &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;3101 | 9919 |

---

(1) These funds refer to the financial products as part of the Group's retirement plans services. See Note 16 for further information.

(2) Vinci Monalisa FIM Crédito Privado IE ("Vinci Monalisa") is a mutual fund incorporated in Brazil and wholly owned by the Entity. Vinci Monalisa's balances are the following:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| **Net Asset Value** | **895,769** | **1,025,462** |
| Real estate funds | &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;228,476 | 214428 |
| Mutual funds | &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;337,457 | 460892 |
| Private market funds | &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;302,564 | 274699 |
| Other assets/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;27,272 | 75443 |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

Vinci Monalisa's portfolio is comprised of liquid and illiquid investee funds with different redemption criteria. Over 54% of its investments are liquid and may be redeemed and 46% are non-redeemable investments. The following tables demonstrate the funds invested by Vinci Monalisa:

**Mutual funds**

Vinci Monalisa holds investments in several mutual funds to seek profitability through investments in various classes of financial assets such as fixed income assets, Brazilian government bonds, public equities, derivatives financial instruments, investment funds and other short-term liquid securities. As of June 30, 2025 and December 31, 2024, Vinci Monalisa holds R$337,457 and R$460,892 of investments in mutual funds, respectively, which are distributed in the following classification:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| **Mutual Funds' classification** |  |  |
| Interest and foreign exchange (a) | 75.41% | 81.72% |
| Foreign investments (b) | 6.50% | 7.19% |
| Macro (c) | 4.66% | 4.92% |
| Specific strategy (d) | 13.43% | 6.17% |
|  | **100.00%** | **100.00%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Funds that seek long-term returns via investments in fixed-income assets, admitting strategies that imply interest risk, price index
risk and foreign currency risk.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Funds that invest in financial assets abroad in a portion greater than 40% of their net asset values.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Funds that operate in various asset classes (fixed income, variable income, foreign exchange, etc.), with investment strategies based
on medium and long-term macroeconomic scenarios.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Funds that adopt an investment strategy that involves specific risks, such as commodities, futures of index, etc.

---

| | | |
|:---|:---|:---|
| **Real Estate funds** | | |
|  | <br>**06/30/2025** | <br>**12/31/2024** |
| Vinci Credit Securities FII (a) | 63128 | 56706 |
| Vinci Imóveis Urbanos FII (b) | 38662 | 40077 |
| Vinci Offices FII (c) | 23259 | 22624 |
| Vinci Fulwood DL FII (d) | 75667 | 71884 |
| Other real estate funds (e) | 27760 | 23137 |
|  | **228476** | **214428** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The fund invests in real estate receivable certificates, bonds and other real estate assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The fund's investment strategy is to acquire properties in the retail, general markets, health and education sectors located in large urban centers that, in the Manager's view, generate long-term value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The fund invests in controlling corporate buildings, mostly leased, which, in the Manager's view, generate value for the properties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The fund's strategy is to provide its shareholders with profitability resulting from the sale of properties, as well as the eventual commercial exploitation of properties. The Fund may carry out renovations or improvements to properties with the aim of enhancing the returns arising from their commercial exploitation or eventual commercialization.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Comprised of funds that allocate their capital in diversified portfolios of shares of real estate funds, real estate receivable certificates, bonds, securities and other real estate assets.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | |
|:---|:---|:---|
| **Private markets funds** | | |
|  | <br>**06/30/2025** | <br>**12/31/2024** |
| Vinci Crédito Infra Institucional Fundo Incentivado – Infraestrutura (a) | 66860 | 60068 |
| Vinci Infra Água e Saneamento Strategy FIP – Infraestrutura (b) | 56160 | 56160 |
| VCP IV Master FIP B (c) | 84182 | 67248 |
| Vinci Strategic Partners I FIP – Classe A (d) | 24968 | 20201 |
| Vinci Strategic Partners I FIP – Classe B (d) | 6706 | 5598 |
| Vinci Infraestrutura Transporte e Logística FIP | 17604 | 17626 |
| Vinci Infra Coinvestimento I FIP - Infraestrutura | 1236 | 7608 |
| Vinci Impacto Ret IV FIP Multiestratégia | 8982 | 6343 |
| Lacan Florestal III Feeder FIP Multiestratégia (e) | 13822 | 13297 |
| Lacan Florestal II - FIP Multiestratégia (e) | 5642 | 5444 |
| Lacan Florestal IV Feeder FIP Multiestratégia - IS (e) | 3015 | 1763 |
| Other funds | 13387 | 13343 |
| **Total private markets funds** | **302564** | **274699** |

---

(a) The Fund aims to increase the value of its shares through subscription or acquisition, on the primary or secondary market, predominantly of debentures issued by privately held companies, for the purpose of raising funds to implement projects relating to the implementation, expansion, maintenance, recovery, adaptation, or modernization of infrastructure projects.

(b) The Fund's investment policy is the acquisition of shares, subscription bonuses, debentures convertible or not into shares, or other securities, convertible or exchangeable into shares issued by companies, publicly or privately held in the water sector and basic sanitation.

(c) VCP IV is being established with the intention to continue the Group's investment strategy of pursuing opportunistic private equity and equity-like investments in Brazil. Fund will maintain the Group's opportunistic approach that provides flexibility to invest in four different sub-strategies: (i) Growth Equity, (ii) Buyout, (iii) Minority Growth and (iv) Turnaround, with a higher focus on the Growth and Buyout strategies.

(d) The purpose of the funds is to obtain capital gains through investment in assets in Brazil, such as shares in Brazilian private equity funds; and shares, subscription bonuses, simple and convertible debentures, other securities and bonds convertible or exchangeable into shares, provided that the debentures and other securities and bonds are admitted under the terms of the specific regulations applicable to RPPS and EFPC.

(e) The Funds' objective is to manage and administer planted forests to supply eucalyptus wood, pine wood and other species for the purpose of generating energy in power plants, extracting wood from planted forests and managing administrative and sales activities.

**(ii) Derivative financial assets/liabilities**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **June 30, 2025** |  | **Notional Amount of Contract with Final Expiration Date in thousands of US Dollars** | **Notional Amount of Contract with Final Expiration Date in thousands of US Dollars** | **Fair value** | **Fair value** |
| **Derivative financial instruments** | **Currency** | **Up to 6 months** | **Between 6 months and 1 year** | **Asset** | **Liability** |
| Purchase Forward | USD x CHL | 255 | (114) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1284) |  |
| Sales Forward | CHL x USD | (255) | 114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3298 |  |
| Purchase Forward | USD x BRL | &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;53500 | - | - | (16106) |
| **Total** |  | **53500** | **-** | **2014** | **(16106)** |

---

Derivatives are only used for economic hedging purposes and not as speculative investments. They are presented as current assets or liabilities to the extent that they are expected to be settled 12 months after the end of the reporting period.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | |
|:---|:---|:---|
| **(iii) Private markets** | | |
|  | <br>**06/30/2025** | <br>**12/31/2024** |
| Vinci Capital Partners III Feeder FIP Multiestratégia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4236 |
| Nordeste III FIP Multiestratégia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 |
| Fundo Garantidor de Infraestrutura – FGIE – Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3272 |
| Fundo Garantidor de Infraestrutura – FGIE – Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13151 |
| Compass Global Investments III | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3094 | 3152 |
| Compass Global Investments II | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550 | 1975 |
| Compass Private Equity VII FI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802 | 1003 |
| **Total Private markets funds** | **29410** | **30189** |

---

---

| | | |
|:---|:---|:---|
| **(iv) Real Estate Investments** | | |
|  | <br>**06/30/2025** | <br>**12/31/2024** |
| **Current assets** | **2745** | **2923** |
| Compass Desarrollo Inmobiliario (ROU) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2745 | 2923 |
| **Non-current assets** | **90234** | **99341** |
| Vinci US RE Corporation (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59321 | 67313 |
| CCLA Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15862 | 14471 |
| Compass Desarrollo Inmobiliario | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6560 | 8237 |
| CCLA Desarrollo y Renta IMU | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4333 | 4434 |
| Compass Desarrollo y Rentas | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2920 | 3319 |
| Other Real Estate investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1238 | 1567 |
| **Total Real Estate Investments** | **92979** | **102264** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Vinci Compass invests in several properties through its subsidiary Vinci US RE Corporation. The investments
are intended to develop real estate properties in New York for capital appreciation through income or sale of the respective properties.

During the year, the following gains were recognized in profit or loss:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended June 30** | **Six months ended June 30** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Three months ended June 30** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Three months ended June 30** |
|  | **2025** | **2024** | **2025** | **2024** |
| Fair value gains on investments at FVPL recognized in finance income | 51297 | 41542 | 32868 | 15671 |

---

&nbsp;&nbsp;&nbsp;&nbsp;e) Financial liabilities

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| **Current** | **218933** | **310788** |
| Trade payables | &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;9366 | &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;&nbsp;&nbsp;&nbsp;&nbsp;11527 |
| Financial instruments at fair value through profit or loss | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16106 |  |
| Labor and social security obligations (Note 13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100640 | &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;182071 |
| Loans and obligations (Note 15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25786 | &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;&nbsp;&nbsp;&nbsp;&nbsp;45220 |
| 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;31804 | &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;&nbsp;&nbsp;&nbsp;&nbsp;33303 |
| Accounts payable (Note 12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35231 | &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;&nbsp;&nbsp;&nbsp;&nbsp;38667 |
| **Non-current** | **1293954** | **1286279** |
| Lease liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110631 | 86152 |
| Labor and social security obligations (Note 13) | &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;6319 | 8992 |
| Loans and obligations (Note 15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722617 | 816322 |
| Retirement plans liabilities (Note 16) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454387 | 374813 |
|  | **1512887** | **1597067** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**Fair value hierarchy**

This section explains the judgments and estimates made in determining the fair values of the financial instruments that are recognized and measured at fair value through profit or loss in the financial statements. To provide an indication about the reliability of the inputs used in determining fair value, the group has classified its financial instruments into the three levels prescribed under the accounting standards. An explanation of each level follows underneath the table.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **On June 30, 2025** | **On June 30, 2025** | **On June 30, 2025** | **On June 30, 2025** |
| ***Recurring fair value measurements*** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Financial Assets** |  |  |  |  |
| Listed equity securities | &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;1551 | &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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551 |
| Certificate Deposits | &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;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58148 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58148 |
| Mutual funds | &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;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;1459499 | &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;1459499 |
| Derivative financial assets | &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;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014 |
| Private equity funds | &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;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29410 |
| Real Estate Investments | &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;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92979 |
| **Total Financial Assets** | **1551** | **1558766** | **83284** | **1643601** |
| **Financial Liabilities** |  |  |  |  |
| Derivative financial 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;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16106 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16106 |
| **Total Financial Liabilities** | **-** | **16106** | **-** | **16106** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **On December 31, 2024** | **On December 31, 2024** | **On December 31, 2024** | **On December 31, 2024** |
| ***Recurring fair value measurements*** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Financial Assets** |  |  |  |  |
| Listed equity securities | 4211 |  |  | &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;4211 |
| Other financial assets |  | 106 |  | &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;&nbsp;&nbsp;&nbsp;&nbsp;106 |
| Certificate Deposits |  | 120492 |  | &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;120492 |
| Mutual funds |  | 1529443 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529443 |
| Derivative financial assets |  | 5647 |  | &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;5647 |
| Private equity funds |  | &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;6130 | &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;24059 | &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;30189 |
| Real Estate Investments | - | &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;34950 | &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;67314 | &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;102264 |
| **Total Financial Assets** | **4211** | **1696768** | **91373** | **1792352** |

---

Level 1: The fair value of financial instruments traded in active markets (such as publicly traded real estate funds) is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the group is the current bid price. These instruments are included in level 1.

Level 2: The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Vinci Monalisa is a financial instrument classified as level 2. Its portfolio is comprised of items that could be classified as level 1, level 2 and level 3, in the amount of R$157,670, R$336,697 and R$401,849, respectively (On December 31, 2024: R$118,089, R$537,653 and R$369,720, respectively).

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**Valuation techniques used to determine fair values**

Specific valuation techniques used to value financial instruments include:

- the use of quoted market prices

- for level 3 financial instruments – discounted cash flow analysis.

All non-listed assets fair value estimates are included in level 2, except for private equity funds and real estate investments, where the fair values have been determined based on fair value appraisals for fund's investments, performed by the fund's management or a third party hired by the Fund's Administrator. The most part of the level 3 financial instruments evaluation uses discount cash flows techniques to evaluate the fair value of the Fund's investments. The appraisals performed by a third party are reviewed by Vinci Compass or its subsidiaries (fund's management).

**Fair value measurements using significant unobservable inputs (level 3)**

The following table presents the changes in level 3 items for the period/year ended June 30, 2025 and December 31, 2024:

---

| | |
|:---|:---|
|  | **Fair Value** |
| **Closing balance January 1, 2024** | **7146** |
| Capital deployment | 61531 |
| Sales and distributions | &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;(163) |
| Gain recognized in finance income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22859 |
| **Closing balance December 31, 2024** | **91373** |
| Capital deployment | &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;17 |
| Sales and distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2688) |
| Loss recognized in finance income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5418) |
| **Closing balance June 30, 2025** | **83284** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **6** | **Financial instruments at amortized cost** |

---

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Certificate of deposit | 2985 | 3232 |
| Guarantee deposits | 3051 | 3759 |
|  | **6,036** | **6,991** |

---

---

| | |
|:---|:---|
| **7** | **Other assets** |

---

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Receivables from employees (i) | 28081 | 29242 |
| Related parties' receivables (ii) | 16178 | 23297 |
| Employees loans (iii) | 15406 | 15100 |
| Advances to projects in progress (iv) | 12748 | 14314 |
| Finix Transaction Receivable (v) | 5321 | 12075 |
| Restricted deposit (vi) | 7989 |  |
| Prepaid expenses | 7581 | 5392 |
| Guarantee deposits | 431 | 1096 |
| Sundry advances | 75 | 333 |
| Sublease receivables | 245 | 232 |
| Others | 2864 | 3660 |
|  | **96919** | **104741** |
| **Current** | 57596 | 55273 |
| **Non-current** | 39323 | 49468 |
|  | **96919** | **104741** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Refers to a related party transaction. See Note 22 (d) for more details.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Refers to an intercompany transaction. See Note 22 (b) for more details.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) Refers to amounts receivable from employees.

&nbsp;&nbsp;&nbsp;&nbsp;(iv) Refers to costs incurred by projects related to funds administered by Vinci
Compass, that are initially paid by the Group and subsequently reimbursed.

&nbsp;&nbsp;&nbsp;&nbsp;(v) The amount is related to the sale of Fingroup shares, which occurred on
October 14, 2024. Before the business combination, Compass held 50% ownership interest in Fingroup, sold before the closing date of the
business combination. The outstanding will be received in a last installment, on April 30, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(vi) Refers to a restricted deposit maintained by CG Compass (USA) LLC to meet
legal and contractual obligations.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **8** | **Investments** |

---

(a) Business Combination

Details of the estimated purchase consideration, the net assets acquired, goodwill and other intangible assets are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Compass** | **MAV** | **Lacan** |
| Cash paid | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 |
| Shares issued (Class A Shares) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |  |
| Consideration payable |  | 10000 |  |
| Contingent consideration | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33468 |
| **Total purchase consideration** | **968431** | **33010** | **103468** |

---

The assets and liabilities recognized as a result of the acquisition are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Compass** | **MAV** | **Lacan** |
| Cash and cash equivalents | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51032 | &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;285 | &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;1987 |
| Other assets and liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301948 | &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;(221) | &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;(1497) |
| Management contracts and customers relationship | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27660 |
| Brands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77763 | &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;- | &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;&nbsp;&nbsp;&nbsp;&nbsp;- |
|  | **755104** | **5824** | **28150** |
| **Goodwill** | **213327** | **27186** | **75318** |
| **Net assets acquired** | **968431** | **33010** | **103468** |

---

All the business combinations are still under their measurement period. During this period, additional assets or liabilities can be recognized if new information is obtained about facts and circumstances that existed as of the acquisition date. The measurement period ends as soon as Vinci Compass receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable. However, the measurement period shall not exceed one year from the acquisition date.

During the second quarter of 2025, the Group revaluated the management contracts and customers relationship of MAV's business combination. The amount of $2,515 was reclassified for Goodwill to Management contracts and customers relationship.

All the information and disclosures required in the annual financial statements and should be read in conjunction with the Group's annual consolidated financial statements as of December 31, 2024.

(b) Investments accounted for using the equity method

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

As of June 30, 2025, the details of investments in associates and joint ventures are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Affiliate** | **Country** | **Ownership** | **Nature of relationship** | **Equity** | **Share of profit (loss) (\*\*\*)** |
| CCLA Holdings Development and Property<br> Management SL ("CCLA Holdings") (\*) | Spain | 50% | Joint venture | 46336 | (6618) |
| Mexican associates' entities (\*\*) | Mexico | (\*\*) | Associate | 9119 | 421 |
|  |  |  |  | **55455** | **(6197)** |

---

(\*) Joint Venture relationships with CIM Group. There is no control in these investments.

(\*\*) Investments in Mexican associates comprise regulatory investment required to Compass Investment de México S.A. de C.V. Mexican associates does not have control over these investments. The ownership on theses associates may vary from 0.04% to 1.89%.

(\*\*\*) Comprise group's share of the post-acquisition profits or losses of the investees.

As of June 30, 2025, movements in investment in joint ventures and associates are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **CCLA Holdings** | **Mexican associates** | **Total** |
| Investments recognized as a result of business combination | 32604 | 7943 | 40547 |
| Capital increase | 13140 |  | 13140 |
| Equity gain (loss) | (1652) | 152 | (1500) |
| Foreign exchange variation | 2356 | 538 | 2894 |
| **Closing balance of investment on December 30, 2024** | **46448** | **8633** | **55081** |
| Capital increase | 9917 |  | 9917 |
| Equity gain (loss) | (6618) | 421 | (6197) |
| Foreign exchange variation | (3411) | **65** | (3346) |
| **Closing balance of investment on June 30, 2025** | **46336** | **9119** | **55455** |

---

<u>Summarized financial information for material associates and joint ventures:</u>

The tables below provide summarized financial information for those joint ventures and associates that are material to

the Group. The information disclosed reflects the amounts presented in the financial statements of the relevant associates and joint ventures and not Vinci Compass share of those amounts. They have been amended to reflect adjustments made by the entity when using the equity method, including fair value adjustments and modifications for differences in accounting policy.

---

| | | |
|:---|:---|:---|
|  | **CCLA Holdings** | **CCLA Holdings** |
|  | **June 30, 2025** | **December 31, 2024** |
| Current assets | 59411 | 89175 |
| Non-current assets | 69212 | 55502 |
| Current liabilities | (22063) | (51780) |
| Non-current liabilities | (13888) | - |
| **Net assets** | 92672 | 92897 |
| Ownership interest | 50% | 50% |
| **Investments by equity method** | 46336 | 46448 |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

(c) Non-controlling interests (NCI)

Set out below is summarized financial information for each subsidiary that has non-controlling interests. The amounts disclosed for each subsidiary are before inter-company eliminations.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Vinci Asset Allocation** | **Vinci Asset Allocation** | **Vinci Holding Securitária** | **Vinci Holding Securitária** | **Total** | **Total** |
|  | **06/30/2025** | **12/31/2024** | **06/30/2025** | **12/31/2024** | **06/30/2025** | **12/31/2024** |
| **<u>Summarized Balance Sheet</u>** |  |  |  |  |  |  |
| Current assets | 100 | 466 | 470327 | 392026 | 470428 | 392492 |
| Current liabilities | (102) | (777) | (1849) | (3447) | (1951) | (4224) |
| Current net assets | **(2)** | **(311)** | **468478** | **388579** | **468477** | **388268** |
| Non-current assets | 601 | 601 | 26368 | 21393 | 26969 | 21994 |
| Non-current liabilities | (3150) | (2750) | (502568) | (408305) | (505718) | (411055) |
| Non-current net assets | **(2549)** | **(2149)** | **(476200)** | **(386912)** | **(478749)** | **(389061)** |
| Net assets | (2551) | (2460) | (7721) | 1667 | (10272) | (793) |
| **Accumulated NCI** | **(638)** | **(615)** | **(1157)** | **250** | **(1796)** | **(365)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **<u>Summarized statement</u>** | **Vinci Asset Allocation** | **Vinci Asset Allocation** | **Vinci Holding Securitária** | **Vinci Holding Securitária** | **Total** | **Total** |
| **<u>of comprehensive income</u>** | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
| Revenue | 324 | 169 | 244 | 165 | 568 | 334 |
| Profit for the period | (92) | (526) | (9389) | (5929) | (9480) | (6455) |
| Total comprehensive income | (92) | (526) | (9389) | (5929) | (9480) | (6455) |
| **Profit/(loss) allocated to NCI** | **(23)** | (132) | **(1408)** | (889) | **(1431)** | (1021) |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **9** | **Property and equipment** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** |
|  | | | | | | **Work of arts and others** | |
|  | | | | | | **Work of arts and others** | |
|  | <br>**Buildings** | **Furniture**<br>**and fittings**<br>**stuffs** | **Improvements in properties**<br>**of third**<br>**parties** | <br>**Computers** <br>**and peripherals** | <br>**Equipment**<br>**and tools** | **Work of arts and others** | <br>**Total** |
| Cost |  |  |  |  |  |  |  |
| **At January 1, 2025** | **27889** | **10534** | **70951** | **6243** | **8790** | **676** | **125083** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisitions, net of disposals |  | 275 | 74 | 1265 | 352 | 10747 | 12713 |
| - Write-off of fully depreciated items |  | (122) |  | (362) |  |  | (484) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Exchange variations of property and equipment abroad | - | - | (2802) | - | (811) | (12) | (3625) |
| **At June 30, 2025** | **27889** | **10687** | **68223** | **7146** | **8331** | **11411** | **133687** |
| Accumulated depreciation |  |  |  |  |  |  |  |
| **At January 1, 2025** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(93)** | **(5500)** | **(50810)** | **(1799)** | **(7738)** | **(11)** | **(65951)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation | (279) | (685) | (2830) | (768) | (391) |  | (4953) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Exchange variations of property and equipment abroad | - | (34) | 1573 | 171 | 789 | (8) | 2491 |
| **At June 30, 2025** | **(372)** | **(6219)** | **(52067)** | **(2396)** | **(7340)** | **(19)** | **(68413)** |
| Net book value |  |  |  |  |  |  |  |
| **At January 1, 2025** | **27796** | **5035** | **20141** | **4444** | **1052** | **664** | **59132** |
| **At June 30, 2025** | **27517** | **4468** | **16156** | **4750** | **991** | **11392** | **65274** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Annual depreciation rate - % | 50 | From 5 to 10 | From 10 to 20 | 20 | From 5 to10 |  |  |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | | | | | | **Work of arts and others** | |
|  | | | | | | **Work of arts and others** | |
|  | <br>**Buildings** | **Furniture**<br>**and fittings**<br>**stuffs** | **Improvements in properties**<br>**of third**<br>**parties** | <br>**Computers** <br>**and peripherals** | <br>**Equipment**<br>**and tools** | **Work of arts and others** | <br>**Total** |
| Cost<br>|  |  |  |  |  |  |  |
| **At January 1, 2024** | **-** | **12858** | **48963** | **7634** | **10325** | **791** | **80571** |
| Assets recognized as a result of business combination | 27889 | 1985 | 16453 | 2378 | 211 | 160 | 49076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisitions, net of disposals |  | 346 | 523 | 1277 | 185 | (275) | 2056 |
| - Write-off of fully depreciated items |  | (4655) | (138) | (5046) | (3415) |  | (13253) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Exchange variations of property and equipment abroad | - | - | 5150 | - | 1484 | - | 6634 |
| **At December 31, 2024** | **27889** | **10534** | **70951** | **6243** | **8790** | **676** | **125083** |
| Accumulated depreciation<br>|  |  |  |  |  |  |  |
| **At January 1, 2024** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**-** | **(9303)** | **(43205)** | **(6128)** | **(9344)** | **-** | **(67980)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation | (93) | (937) | (3414) | (702) | (379) |  | (5525) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Write-off of fully depreciated items |  | 4608 | 138 | 5046 | 3415 |  | 13207 |
| Foreign Exchange variations of property and equipment abroad | - | 132 | (4329) | (15) | (1430) | (11) | (5653) |
| **At December 31, 2024** | **(93)** | **(5500)** | **(50810)** | **(1799)** | **(7738)** | **(11)** | **(65951)** |
| Net book value |  |  |  |  |  |  |  |
| **At January 1, 2024** | **-** | **3555** | **5758** | **1506** | **981** | **791** | **12591** |
| **At December 31, 2024** | **27796** | **5035** | **20141** | **4444** | **1052** | **664** | **59132** |
| Annual depreciation rate - % | 50 | From 5 to 10 | From 10 to 20 | 20 | From 5 to10 |  |  |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **10** | **Intangible assets** |

---

Intangible assets include expenditure on the development of the software, placement agent and the management contracts, customers relationship, brands, and the goodwill generated by the acquisitions of SPS, MAV, Compass and Lacan.

The software development comprises mainly the following assets:

- Products for Risk System and Portfolio Allocation, whose purpose is to evaluate the risk of the funds and to allocate the clients' portfolio; and

- Systems and applications which are being developed to support retirement services applications.

The Entity assesses at each reporting date whether there is an indication that an intangible asset may be impaired, If any indication exists, the Entity estimates the asset's recoverable amount. There were no indications of impairment of intangible assets for the year ended June 30, 2025 and December 31, 2024.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** |
| | **Brands and licenses**<br>| **Software development** | **Placement Agent** | **Goodwill (c)** | **Management Contracts and Customer relationships** | **Total** |
| Cost |  |  |  |  |  |  |
| **At January 1, 2025** | **77822** | **46973** | **24540** | **555175** | **383082** | **1087592** |
| &nbsp;&nbsp; Additions |  | 8735 |  |  |  | 8735 |
| &nbsp;&nbsp;Reclassification (Note 8) |  |  |  | (2515) | 2515 |  |
| &nbsp;&nbsp; Write-off of assets, including fully depreciated items |  | (1102) |  |  |  | (1102) |
| &nbsp;&nbsp; Foreign exchange variation of intangible assets abroad | - | (1871) | (568) | (568) | (630) | (3637) |
| **At June 30, 2025** | **77822** | **52735** | **23972** | **552092** | **384967** | **1091588** |
| Accumulated amortization |  |  |  |  | ' |  |
| **At January 1, 2025** | **-** | **(15567)** | **(4952)** | **-** | **(9125)** | **(29643)** |
| &nbsp;&nbsp; Amortization |  | (3960) | (1239) |  | (6434) | (11633) |
| &nbsp;&nbsp; Foreign exchange variation of intangible assets abroad | - | 1527 | 149 | - | 117 | 1793 |
| **At June 30, 2025** | **-** | **(18000)** | **(6042)** | **-** | **(15442)** | **(39483)** |
| **At January 1, 2025** | **77822** | **31406** | **19588** | **555175** | **373957** | **1057949** |
| **At June 30, 2025** | **77822** | **34735** | **17930** | **552092** | **369525** | **1052105** |
| Amortization rate (per year) - % |  | 20% |  |  |  |  |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Brands and licenses**<br>| **Software development** | **Placement Agent** | **Goodwill** | **Management Contracts and Customer relationships** | **Total** |
| Cost |  |  |  |  |  |  |
| At January 1, 2024 | 29 | 40304 | 20722 | 162290 | 22049 | 245394 |
| Assets recognized as a result of business combination | 77763 | 5225 |  | 392345 | 360689 | 836021 |
| Additions | 30 | 15696 | 3284 |  |  | 19010 |
| Write-off of assets, including fully depreciated items |  | (16416) |  |  |  | (16416) |
| Foreign exchange variation of intangible assets abroad | - | 2164 | 534 | 540 | 344 | 3583 |
| **At December 31, 2024** | **77822** | **46973** | **24540** | **555175** | **383082** | **1087592** |
| Accumulated amortization |  |  |  |  | ' |  |
| At January 1, 2024 |  | (24686) | (1896) |  | (4064) | (30646) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization |  | (4476) | (2769) |  | (5061) | (12306) |
| &nbsp;&nbsp;&nbsp;&nbsp;Write-off of assets, including fully depreciated items |  | 14712 |  |  |  | 14712 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange variation of intangible assets abroad | - | (1117) | (287) | - | - | (1403) |
| **At December 31, 2024** | **-** | **(15567)** | **(4952)** | **-** | **(9125)** | **(29643)** |
| At January 1, 2024 | 29 | 15618 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18826 | 162290 | 17985 | 214748 |
| **At December 31, 2024** | **77822** | **31407** | **19588** | **555175** | **373956** | **1057949** |
| Amortization rate (per year) - % |  | 20% |  |  |  |  |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

The unaudited interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group's annual consolidated financial statements as of December 31, 2024..

No impairment losses were recognized on June 30, 2025 and December 31, 2024.

---

| | |
|:---|:---|
| **11** | **Leases** |

---

This note provides information for leases where the Group is a lessee. The notes also provide the information of subleases agreements where the Group is a lessor, once part of the assets leased by the Group is subleased to third parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Amount recognized in the balance sheet

The balance sheet shows the following amounts relating to leases:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| ***Sub-lease receivable*** |  |  |
| Brazil | 645 | 1758 |
| Chile | 3749 | 4081 |
| **Tota<u>l</u>** | **4394** | **5839** |
| Current | 645 | 1758 |
| Non-current | 3749 | 4081 |
| **Total** | **4394** | **5839** |
| ***Right of use assets*** |  |  |
| Brazil | 85358 | 51712 |
| USA | 27105 | 32212 |
| Others offices | 14108 | 18193 |
| **Total** | **126571** | **102117** |
| ***Lease liabilities*** |  |  |
| Brazil | (90613) | (56510) |
| USA | (34883) | (40956) |
| Others offices | (16939) | (21989) |
| **Total** | **(142435)** | **(119455)** |
|  | **06/30/2025** | **12/31/2024** |
| Current | (31804) | (33303) |
| Non-current | (110631) | (86152) |
| **Total** | **(142435)** | **(119455)** |

---

Addition to the right-of-use assets resulted from new contracts and contracts modifications were R$41,344 until June 30, 2025 (additions of R$3,918 during 2024 financial year).

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Amount recorded in the statement of profit or loss

The statement of profit or loss shows the following amounts relating to leases:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
|  | **2025** | **2024** | **2025** | **2024** |
| Right of use assets depreciation | (11983) | (4674) | (6321) | (2335) |
| Financial expense | (7480) | (4292) | (3722) | (2076) |
|  | **(19463)** | **(8966)** | **(10043)** | **(4411)** |

---

The total cash outflow for leases until June 30, 2025 was R$18,365 (R$13,541 until June 30, 2024).

The Group's leasing activities and how these are accounted for are disclosed in the Group's annual consolidated financial statements as of December 31, 2024.

---

| | |
|:---|:---|
| **12** | **Accounts payable** |

---

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Accrued liabilities (i) | 13937 | 16533 |
| Temporary deposit from clients (ii) | 10368 | 11561 |
| Dividends payable | 2696 | 3791 |
| Lease payable – prior month expense | 2227 | 1840 |
| Related Parties | 2624 | 805 |
| Treasury shares acquisition | 810 | 810 |
| Other payables | 2569 | 3327 |
|  | **35231** | **38667** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Fees, commissions, and other payables.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Comprises payments of services made by the client to invest in the Mexican Investment Fund through the
investment manager

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **13** | **Labor and social security obligations** |

---

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Profit sharing | 70509 | 146743 |
| Labor provisions | 36450 | 44320 |
|  | 106,959 | 191,063 |
| Current | **100,640** | **182,071** |
| Non-current | **6,319** | **8,992** |

---

Except for the profit sharing related to the unrealized performance fees, the accrual for profits sharing payable on December 31, 2024, were paid in the first quarter of 2025. Profit sharing is calculated based on the performance review of each employee plus the area performance, in accordance with the Entity policy. Vinci Compass Management estimated the profit sharing as of June 30, 2025, based on the management and advisory net revenue recognized and the realized performance fee up to June 30, 2025. Since the second quarter of 2022 labor provisions have been impacted by provisions and social charges related to Restricted Share Units Plan (RSUs). The non-current amount comprises the provisions and social charges for the RSUs, of which the vesting dates are over 1 year.

---

| | |
|:---|:---|
| **14** | **Taxes and contributions payable** |

---

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Income tax | 12922 | 28812 |
| Social contribution | 3890 | 3985 |
| Social Contribution on revenues (COFINS) | 2851 | 2769 |
| Service tax (ISS) on billing | 1382 | 604 |
| Social Integration Program (PIS) | 618 | 1677 |
| Withholding Income Tax (IRRF)<br> deducted from third parties | (339) | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 |
| Others | 1931 | 2642 |
|  | **23255** | **40855** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **15** | **Loans and obligations** |

---

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Convertible Preferred Shares (i) | 506017 | 577982 |
| Commercial Notes (ii) | 46571 | 55150 |
| Consideration payable (iii) | 5613 | 10542 |
| Contingent consideration (iv) | 188188 | 210666 |
| Banco Security (v) | 2014 | 5647 |
| Other obligations | - | 1555 |
|  | 748403 | 861542 |
| Current | **25786** | **45220** |
| Non-current | **722617** | **816322** |

---

The unaudited interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Group's annual consolidated financial statements as of December 31, 2024.

**(i)** **Convertible Preferred Shares** 

The following table presents the changes in the Convertible Preferred Shares in the period ended June 30, 2025 and December 31, 2024:

---

| | |
|:---|:---|
| **Closing balance December 31, 2023** | **431333** |
| Net foreign exchange loss/(gain) | 136374 |
| Interest expense | 49261 |
| Interest paid | (38986) |
| **Closing balance December 31, 2024** | **577982** |
| Net foreign exchange loss/(gain) | (74133) |
| Interest expense | 26061 |
| Interest paid | (23893) |
| **Closing balance June 30, 2025** | **506017** |
| **Current** | **23893** |
| **Non-current** | **482124** |

---

On January 1, 2025, the Entity paid the total amount of R$12,398 related to the dividends of the series A convertible preferred shares.

On April 1, 2025, the Entity paid the total amount of R$11,495 related to the dividends of the series A convertible preferred shares.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**(ii)** **Commercial notes** 

The following table presents the changes in the Commercial Notes up the period ended June 30, 2025 and December 31, 2024:

---

| | |
|:---|:---|
| **Closing balance December 31, 2023** | **73189** |
| Interest expense | 8651 |
| Interest paid | (8912) |
| Principal paid | (17778) |
| **Closing balance December 31, 2024** | **55150** |
| Interest expense | 3905 |
| Interest paid | (3595) |
| Principal paid | (8889) |
| **Closing balance June 30, 2025** | **46571** |
| **Current** | **11373** |
| **Non-current** | **35198** |

---

**(iii)** **Consideration payable** 

---

| | | |
|:---|:---|:---|
|  | **SPS** | **MAV** |
| **Closing balance December 31, 2023** | **48200** | **-** |
| Obligations acquired | **-** | **10000** |
| Interest expense | 3145 | 533 |
| Principal paid | (51336) | - |
| **Closing balance December 31, 2024** | **9** | **10533** |
| Interest expense |  | 443 |
| Interest paid |  | (372) |
| Principal paid | - | (5000) |
| **Closing balance June 30, 2025** | **9** | **5604** |
| **Current** |  | **-** |
| **Non-current** |  | **5613** |

---

Consideration payable is financial liability evaluated at amortized cost. Interest expense is calculated using the effective interest method and is recognized in profit or loss as part of financial expense.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**(iv)** **Contingent consideration** 

On June 30, 2025, Vinci Compass reevaluated the fair value of the obligation based on the economic conditions at that date, resulting in a decrease of the contingent consideration fair value. The variation was recognized as a gain in the financial result in the amount of R$22,479 for the six months period ended June 30, 2025 (expense of R$14,103 for the six months period ended June 30, 2024).

On June 30, 2025, the fair value of the obligation based on the economic conditions at that date is R$188,188 (R$210,666 is December 31, 2024).

**(v)** **Banco Security** 

See details in note 5 (d).

---

| | |
|:---|:---|
| **16** | **Retirement plans liabilities** |

---

During the year of 2023, the subsidiary Vinci Vida e Previdência S.A. started its retirement services operations. As of June 2025 and December 2024, active plans are principally accumulation of financial resources through products PGBL (Free Benefit Generator Plan) and VGBL (Free Benefit Generator Life) structured in the form of variable contribution, for the purpose of granting participants with returns based on the accumulated capital in the form of monthly withdraws for a certain term or temporary monthly withdraws.

In this respect, such financial products represent investment contracts that have the legal form of retirement plans, but which do not transfer insurance risk to the Group. Therefore, contributions received from participants are accounted for as liabilities and balance consists of the balance of the participant in the linked Specially Constituted Investment Fund ("FIE") at the reporting date (Note 5). On June 30, 2025 the Retirement plan liabilities are R$454,387 (R$374,813 as of December 31, 2024).

---

| | |
|:---|:---|
| **17** | **Equity** |

---

**(a)** **Capital** 

The capital comprises 54,230,733 Class A shares and 14,466,239 Class B shares with a par value of US$0.00005 each.

The Class A common shares have been approved for listing on the Nasdaq Global Select Market, or Nasdaq, under the symbol "VINP." Vinci Compass has two classes of common shares: Class A common shares and our Class B common shares.

Class B common shares carry rights that are identical to the Class A common shares, except that (1) holders of Class B common shares are entitled to 10 votes per share, whereas holders of our Class A common shares are entitled to one vote per share; (2) holders of Class B common shares have certain conversion rights; (3) holders of Class B common shares are entitled to preemptive rights in the event that additional Class A common shares are issued in order to maintain their proportional ownership interest; and (4) Class B common shares shall not be listed on any stock exchange and will not be publicly traded.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**Fair value option of convertible preferred shares**

As informed on note 15 (i), when the initial carrying amount of a compound financial instrument is allocated to its equity and liability components, the equity component is assigned the residual amount after deducting from the fair value of the instrument determined for the liability component. At the transaction date, on October 10, 2023, the fair value of the stock option and the amount of transaction cost were allocated to the equity in the amounts of R$34,141 and R$1,958, respectively.

**(b)** **Retained earnings** 

Retained earnings comprise the net profit generated by the Entity which were not distributed to their shareholders or approved to be distributed by the Entity management.

**(c)** **Other reserves** 

Other reserves comprise the following operations:

&nbsp;&nbsp;&nbsp;&nbsp;(i) Exchange variation on investees

Comprises the exchange variation in investments made on investees which have a functional currency other than Brazilian Reais, the Entity functional currency. When a foreign operation is sold, the associated exchange differences are reclassified as a profit or loss, as part of the gain or loss on sale.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Share-based payments

Benefits to its employees through a share-based incentive.

**(d)** **Dividends** 

On February 26, 2025, Vinci Compass declared a quarterly dividend distribution of US$0.15 per common share to shareholders as of March 13, 2025, totalizing US$9,525 (R$55,012), paid on March 27, 2025.

On May 9, 2025, Vinci Compass declared a quarterly dividend distribution of US$0.15 per common share to shareholders as of May 27, 2025, totalizing US$9,487 (R$53,637), paid on June 10, 2025.

Once dividends are declared and approved by the board of directors, they will be paid on a proportional basis to the owners of the common shares.

**(e)** **Treasury shares** 

When shares recognized as equity are repurchased, the amount of the consideration paid, which includes directly attributable costs, is recognized as a deduction from equity. Repurchased shares are classified as treasury shares and are presented in the treasury share reserve. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity and the resulting surplus or deficit on the transaction is presented within the additional paid-in capital.

On February 7, 2024, the Entity announced a new share buyback plan and a share repurchase plan to buy back up to R$60.0 million of the Entity's outstanding Class A common shares which shall be executed through open market transactions or privately

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

negotiated purchases. The plan is approved to replace the share buyback and repurchase plans approved on February 14, 2023, which expired on the date that the R$60.0 million buyback limit set thereunder was reached.

On September 26, 2024, the Entity announced a new share buyback and share repurchase plans to buy back up to US$15.0 million of the Entity's outstanding Class A common shares which shall be executed through open market transactions or privately negotiated purchases. The plans are approved to replace the share buyback plan announced on February 7, 2024, which expired on the date that the R$60.0 million buyback limit set thereunder was reached.

During the first semester of 2025, the Entity bought back 856,910 shares from its shareholders and the market, in the amount of R$49,946.

In June 2025 the Entity holds 5,452,313 Class A common shares in treasury.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**(f)** **Basic and diluted earnings per share** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
| **a) Basic earning per share** | **2025** | **2024** | **2025** | **2024** |
| From continuing operations attributable to the ordinary equity holders of the Entity | &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;1.96 | 1.40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.06 | 0.54 |
| Total basic earning per share attributable to the ordinary equity holders of the Entity | **1.96** | **1.40** | **1.06** | **0.54** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
| **b) Diluted earning per share** | **2025** | **2024** | **2025** | **2024** |
| From continuing operations attributable to the ordinary equity holders of the Entity | &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;1.91 | 1.33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.03 | 0.51 |
| Total basic earning per share attributable to the ordinary equity holders of the Entity | **1.91** | **1.33** | **1.03** | **0.51** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **c) Reconciliations of earnings used in calculating earnings per share** | **c) Reconciliations of earnings used in calculating earnings per share** | **c) Reconciliations of earnings used in calculating earnings per share** |  |  |
| | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
| ***Basic earnings per share:*** | **2025** | **2024** | **2025** | **2024** |
| Profit attributable to the ordinary equity holders of the Entity used in calculating basic earnings per share: |  |  |  |  |
| From continuing operations | 124132 | 75076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28919 |
|  | **124132** | **75076** | **67600** | **28919** |
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
| ***Diluted earnings per share:*** | **2025** | **2024** | **2025** | **2024** |
| Profit from continuing operations attributable to the ordinary equity holders of the Entity |  |  |  |  |
| Used in calculating basic earnings per share | 124132 | 75076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28919 |
| Used in calculating diluted earnings per share | **124132** | **75076** | **67600** | **28919** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **d) Weighted average number of shares used as the denominator** | **d) Weighted average number of shares used as the denominator** | | | |
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
| Weighted average number of ordinary shares used as the denominator in calculating basic earnings per share: | 63475564 | 53507726 | 63985099 | 53824477 |
| Adjustments for calculation of diluted earnings per share: | 1656560 | 3008664 | 1656560 | 3008664 |
| **Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating diluted earnings per share** | 65132124 | 56516390 | 65641659 | 56833141 |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **18** | **Revenue from services rendered** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
|  | **2025** | **2024** | **2025** | **2024** |
| Gross revenue from fund management | 406363 | 224913 | 203117 | 121728 |
| Gross revenue from performance fees | 11975 | 8240 | 8722 | 5888 |
| Gross revenue from advisory | 52309 | &nbsp;&nbsp;&nbsp;&nbsp;23532 | 27142 | 12598 |
| Gross revenue from other revenues | 22206 | - | 10944 | - |
| Gross revenue from services rendered | 492853 | 256685 | 249925 | 140214 |
| In Brazil | 191276 | 198432 | 101718 | 110530 |
| Abroad | 301577 | 58253 | 148207 | 29684 |
| Taxes and contributions | (17057) | (16370) | (8850) | (8986) |
| Net revenue from services rendered | 475796 | 240315 | 241075 | 131228 |
| Net revenue from fund management | 391098 | 210589 | 195569 | 114134 |
| Net revenue from performance fees | 11419 | 7886 | 8342 | 5613 |
| Net revenue from advisory | 51073 | 21840 | 26220 | 11481 |
| Net revenue from other revenues | 22206 |  | 10944 | - |

---

---

| | |
|:---|:---|
| **19** | **General and administrative expenses** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
|  | **2025** | **2024** | **2025** | **2024** |
| Personnel (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(123479) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35439) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60876) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18125) |
| Share Based Plans (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11997) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11808) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6994) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5660) |
| Profit-sharing (a) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69904) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45640) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36810) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25883) |
|  | **(205380)** | **(92887)** | **(104680)** | **(49668)** |
| Third party expenses (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93458) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30967) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47536) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22554) |
| Right of use depreciation (d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11983) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4674) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6321) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2335) |
| Depreciation and amortization (e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16531) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6380) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8355) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3255) |
| Travel and representations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7849) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3173) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4603) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2033) |
| Condominium expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5059) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1310) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2527) | &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;(650) |
| Other operating expenses (f) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17460) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8253) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3053) |
|  | **(357720)** | **(145206)** | **(182275)** | **(83548)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **Personnel and profit-sharing** 

According to the profit-sharing program and on objectives established at the beginning of each year, management estimated the payment of profit sharing in the amount of R$69,904 (R$45,640 on June 30, 2024) for the six-months period ended June 30, 2025. The increase in the first semester of 2025 is mainly related to the business combinations concluded in the third quarter of 2024, which increases the personnel and profit-sharing expenses**.**

&nbsp;&nbsp;&nbsp;&nbsp;**(b)** **Share-based payments** 

See Note 25 for more details.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**(c) Third party expense**

Third party expenses are composed of accounting, advisory, information technology, marketing, third-party distribution services and other contracted services.

**(d) Right of use depreciation**

See Note 11 for more details.

**(e) Depreciation and amortization**

The amount is mainly comprised by property and equipment depreciation and intangible amortization.

**(f) Other operating expenses**

The amount is mainly comprised of office expenses, including energy, cleaning, maintenance and conservation, among other several expenses.

---

| | |
|:---|:---|
| **20** | **Finance profit/(loss)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
|  | **2025** | **2024** | **2025** | **2024** |
| Investment income (i) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15671 |
| Financial revenue through amortized cost | &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;464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5618 |
| Foreign currency variation income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12423 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4094 |  |
| Financial revenue on sublease agreements | &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;111 | &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;330 | &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;47 | &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;151 |
| Contingent consideration variation (iii) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22478 | &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;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12932 | &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;- |
| Other finance income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161 | &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;791 |
| Finance income | 88959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54842 | 51361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22231 |
| Financial expense on lease agreements | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7480) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3722) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2076) |
| Interest expense on loans and financing (ii) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31541) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30425) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15415) |
| Bank fees | &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;(464) | &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;(33) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(273) | &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;&nbsp;&nbsp;&nbsp;&nbsp;3 |
| Fines on taxes | &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;(1) | &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;(2) | (1) | (1) |
| Interest on taxes | &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;&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;(84) |  | &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;(6) |
| Foreign currency variation on liabilities at amortized cost | &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;(7073) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6459) |
| Contingent consideration variation (iii) | &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;(11619) | &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;&nbsp;&nbsp;&nbsp;&nbsp;(5863) |
| Other financial expenses (iv) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15279) | &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;(305) | &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;(7984) | &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;(68) |
| Finance costs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54765) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27380) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29885) |
| Finance profit/(loss), net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7654) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Investment income and losses comprise the fair value changes on the financial instruments at fair value through profit or loss, Segregated
investment income result is demonstrated below.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
|  | **2025** | **2024** | **2025** | **2024** |
| Mutual funds and fixed income investments (a) | 45463 | 40485 | 29103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15447 |
| Private equity funds | 5834 | 1057 | &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;3765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224 |
|  | **51297** | **41542** | **32868** | **15671** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) Vinci Monalisa corresponds to the most part of the Group's investment income,

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Interest expense on loans and financing comprises the financial result on the Commercial notes, the consideration
payable related to SPS acquisition and interest expense on the convertible preferred shares. Please see note 15 for more detail.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) Variation on contingent consideration comprises the financial result of the fair value evaluation. Please see note 15 (iv) for more
detail.

&nbsp;&nbsp;&nbsp;&nbsp;(iv) Includes the disbursements related to the non-deliverable forwards. See note 5 (d) for more information.

---

| | |
|:---|:---|
| **21** | **Income tax and social contribution** |

---

As an exempted company incorporated in the Cayman Islands, Vinci Partners Ltd is subject to Cayman Islands laws, which

currently levy no taxes on individuals or corporations based upon profits, income, gains or appreciation and there is no taxation

in the nature of inheritance tax or estate duty or withholding tax applicable to us. Certain subsidiaries of Vinci Partners Ltd subsidiaries are taxed based on the deemed profit.

Vinci Compass has tax losses and negative basis resulting from previous years and deferred income tax and social contribution credits which are recognized since there is expectation of future tax results for these companies, The tax credit arising from the tax loss and negative basis under the taxable profit regime on June 30, 2025 is R$15,557 (R$13,102 on December 31, 2024).

The income tax and social contribution charge on the results for the year can be summarized as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
|  | **2025** | **2024** | **2025** | **2024** |
| Current income tax | (15787) | (19846) | (9523) | (10406) |
| Current social contribution | (5608) | (7213) | (3396) | (3782) |
|  | (21395) | (27059) | (12919) | (14188) |
| Deferred income tax | (1453) | 3673 | 667 | 1844 |
| Deferred social contribution | (524) | 1323 | 240 | 665 |
|  | (1977) | 4996 | 907 | 2509 |
|  | **(23372)** | **(22063)** | **(12012)** | **(11679)** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**Deferred tax balances**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| ***Deferred tax assets*** |  |  |
| Tax losses | 15557 | 13102 |
| Leases | 635 | 68 |
| RSU | 2849 | 3103 |
| Interest expense on obligation for acquisition | 3190 | 3190 |
| Amortization on management Contracts | 2937 | 2419 |
| Contingent consideration | 2363 | 5849 |
| Others | 1723 | 3615 |
| **Total** | **29254** | **31346** |

---

---

| | | |
|:---|:---|:---|
| ***Deferred tax liabilities*** |  |  |
| Financial revenue | (1556) | (2287) |
| Estimated revenue | (189) | (1193) |
| Leases | (987) | (984) |
| **Total Income Tax** | **(2732)** | **(4464)** |
| Estimated revenue | &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;(107) | (622) |
| **Total (Taxes and contribution)** | **(107)** | **(622)** |
| **Total deferred tax liabilities** | **(2839)** | **(5086)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ***Movements*** | **Tax losses** | **AVP** | **Management**<br> **Contract** | **RSU** | **Other (\*)** | **Total** |
| ***Deferred tax assets*** |  |  |  |  |  |  |
| **As at December 31, 2023** | **6066** | **2121** | **1382** | **2188** | **1730** | **13487** |
| to profit and loss | 7036 | 1069 | 1037 | 915 | 7801 | 17858 |
| **As at December 31, 2024** | **13102** | **3190** | **2419** | **3103** | **9532** | **31346** |
| to profit and loss | 2455 | **-** | 518 | (254) | (4811) | (2092) |
| **As at June 30, 2025** | **15557** | **3190** | **2937** | **2849** | **4721** | **29254** |

---

(\*) Comprises deferred taxes related to interest expense on obligation for ownership acquisition, amortization on management contracts and contingent consideration.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| ***Movements*** | **Financial Revenue** | **Estimated Revenue** | **Leases** | **Total** |
| ***Deferred tax liabilities*** |  |  |  |  |
| **As at December 31, 2023** | **(1147)** | **(2385)** | **(351)** | **(3883)** |
| to profit and loss | (1140) | 570 | (633) | (1203) |
| **As at December 31, 2024** | **(2287)** | **(1815)** | **(984)** | **(5086)** |
| to profit and loss | 731 | 1519 | (3) | 2247 |
| **As at June 30, 2025** | **(1556)** | **(296)** | **(987)** | **(2839)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **Tax effective rate** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended June 30** | **Six months ended June 30** | **Three months ended June 30** | **Three months ended June 30** |
|  | **2025** | **2024** | **2025** | **2024** |
| Profit (loss) before income taxes | 146073 | 96118 | 78785 | 40026 |
| Combined statutory income taxes rate - % | 34% | 34% | 34% | 34% |
| Income tax benefit (expense) at statutory rates | **(49665)** | **(32680)** | **(26787)** | **(13609)** |
| Reconciliation adjustments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Expenses not deductible* | (40) | (99) | (9) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Tax benefits* | 39 | 146 | 10 | 109 |
| &nbsp;&nbsp;&nbsp;&nbsp; *Share based payments*<br> *Unrecognized tax loss credits* | (989)<br> (3415) | (685)<br> (2206) | (544)<br> (1881) | (347)<br> (1288) |
| &nbsp;&nbsp;&nbsp;&nbsp;*Effect of presumed profit of subsidiaries (i) and offshore subsidiaries* | 30310 | 13401 | 16851 | 3420 |
| Other additions (exclusions), net | 388 | 60 | 348 | 36 |
| Income taxes expenses |  |  |  |  |
| Current | (21395) | (27059) | (12919) | (14188) |
| Deferred | (1977) | 4996 | 907 | 2509 |
|  | **(23372)** | **(22063)** | **(12012)** | **(11679)** |
| Effective rate | 16% | 23% | 15% | 29% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Brazilian tax law establishes that companies that generate gross revenues of up to R$78,000 in the
prior fiscal year may calculate income taxes as a percentage of gross revenue, using the presumed profit income tax regime. The Entity's
subsidiaries adopted this tax regime and the effect of the presumed profit of subsidiaries represents the difference between the taxation
based on this method and the amount that would be due based on the statutory rate applied to the taxable profit of the subsidiaries.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **22** | **Related parties** |

---

**(a)** **Key management remuneration** 

The total remuneration (salaries and benefits) of key management personnel, including the Executive Committee, amounted to R$6,947 for the six-month period ended June 30, 2025 (June 30, 2024 – R$3,582).

According to Vinci Compass internal policy, the key management is entitled to receive a profit-sharing compensation for the current year. As informed in Note 13 Vinci Compass accrued a provision for profit sharing for the Group as of June 30, 2025.

**(b)** **Receivables from related parties** 

The Entity receivables from related parties as of June 30, 2025, and December 31, 2024, as shown in the table below:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Compass Group Cayman Ltd. ("CGC") (\*) | 16141 | 21673 |
| CCLA Chile |  | 1600 |
| Hakone Participações Societárias S.A. | 18 | 12 |
| Palermo Empreendimentos e Participacoes S.A | 7 |  |
| Osaka Participações Societárias S.A. | 8 | 8 |
| Cagliari Participações S.A. | 4 | 4 |
|  | **16178** | **23297** |

---

(\*) Refers to a credit line financing from Vinci Compass to CGC in the amount of US$3,500 to fund redemptions, repurchases and other acquisitions of equity interests in CGC. Until June 30, 2025 US$542 was paid, remaining outstanding US$2,958.

**(c)** **Employees loans** 

As presented in Note 7(i), Vinci Compass may advance payments to its employees.

**(d)** **Receivables from employees** 

During 2024 and 2023, Vinci Compass sold part of its treasury shares to employees. The amount will be received from January 31, 2025, in annual installments until January 31, 2029, and a monetary variation will be charged by inflation index.

---

| | |
|:---|:---|
| **23** | **Segment reporting** |

---

The Entity's reportable segments are those business units which provide different services and are separately managed since each business demands different market strategies.

The main information used by management for assessment of the performance of each segment is the profit by segment for the analysis of the return of these investments.

The information on assets and liabilities by segment is not disclosed in these financial statements because it is not used by management when managing segments. Management does not make an analysis by geographical areas for the management of the Entity's business.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

Segments are independently managed, with professionals specifically skilled allocated in each segment.

Vinci Compass decided to reorganize the segments by grouping strategies that align with their management characteristics, management fees, performance, and duration. This restructuring aims to better accommodate the recent acquisitions and ensure the entity is organized in a more cohesive and efficient manner. It will also foster collaboration across all areas of the business, helping the Entity maintain a strong, adaptable organization that is better equipped to respond to market demands and capitalize on new opportunities.

The Entity's operations are segmented according to the organization and management model approved by management, and they are divided as follows:

**Global Investment Products and Solutions (Global IP&S)**

The Global IP&S segment provides access to a network of world-class GPs and top-tier asset managers as well as proprietary investment solutions, on a discretionary and non-discretionary basis. The strategy is designed to deliver investment and advisory solutions, with a focus on alpha generation, tailored to clients' objectives. Within the Global IP&S segment, we provide multi-asset allocation strategies, as well as portfolio and management services, structured around medium to long-term risk allocation. The segment operates as a comprehensive strategy that includes Third-Party Distribution (Liquid and Alternative), Separate Mandates, Commingled Funds, Brokerage, Pension Plans, Global Solutions and Vinci Retirement Services.

**Credit**

The segment operates across three business lines: Public and Private Credit, Opportunistic Capital Solutions, and Agribusiness Credit, with both local and hard currency strategies. The Credit segment is designed to address the diverse financing needs of both mature and growing businesses through a broad range of sub-strategies, including local currency high grade and high yield, structured credit and confirming, real estate and infrastructure credit, agribusiness, hard currency high-grade and high-yield strategies, and opportunistic capital solutions.

**Private Equity**

The Private Equity segment has a sector-agnostic approach focused on growth equity investments in Brazil. The main strategic focus is vale creation by promoting revenue, productivity and profitability growth through significant operating and management changes in portfolio companies. The Private Equity segment invests through two sub-strategies: Vinci Capital Partners, which focuses on control and co-control investments, and Vinci Impact and Return, that focuses on minority investments in small-to-medium enterprises with a dual mandate of generating ESG impact as well as market returns.

**Equities**

The Equities segment operates through two distinct strategies, delivering robust and diversified investment solutions across Latin America or specific country markets. These strategies are designed to capitalize on regional opportunities and specialized market dynamics, offering clients tailored approaches to achieve their investment goals. The segment includes a range of sub-strategies to address different investor profiles and market conditions, including Long Only, Dividends, Small Caps, Long Biased, and other specialized approaches.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

**Real Assets**

The Real Assets segment comprises investments focused on tangible, income-generating assets through real estate, infrastructure and forestry strategies, as described below:

&nbsp;&nbsp;&nbsp;&nbsp;**(i)** **Real Estate** 

The Real Estate segment is focused on income-generating mature real estate assets across Brazil through REITs listed on the B3, including shopping centers, industrial properties, commercial offices, urban properties and funds of funds, and seek to achieve differentiated returns through an active management of a diversified and quality portfolio. The strategy covers also additional development strategies in Brazil, Uruguay and Peru, following up to five key steps: origination of opportunities, analysis, execution, monitoring and asset sale.

&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** **Infrastructure** 

The infrastructure strategy has exposure to real assets across the infra sector in Brazil, through equity and debt instruments. The management team invests through the following sub-sectors: power, oil & gas, transportation & logistic and water & sewage. The strategy invests across two sub-strategies: sector-focused funds and structured credit. The fund's investments are periodically monitored, including the evolution of ESG metrics, financial and operational metrics.

&nbsp;&nbsp;&nbsp;&nbsp;**(iii)** **Forestry** 

The Forestry strategy focuses on investments in eucalyptus, pine, and native forests in Brazil, aiming to generate attractive returns through sustainable timber harvesting. The strategy includes both greenfield and brownfield projects, leveraging active management practices to enhance productivity and long-term asset value. Investments are structured across multiple vintages, with the fourth fund currently in fundraising and progressing toward Article 9 classification. The strategy applies an ESG framework to guide portfolio monitoring, set clear objectives, and assess social impacts, prioritizing projects that deliver both environmental and social benefits. The local presence of Lacan and its long-term relationships with key industry players provide privileged access to the best opportunities.

**Corporate advisory**

The corporate advisory services objective is including high value-added to financial and strategic advisory services to entrepreneurs, corporate senior management teams and boards of directors, focusing primarily on IPO advisory and M&A transactions for Brazilian middle-market companies. The corporate advisory services team serves as trusted advisors to clients targeting local and/or product expertise in the Brazilian marketplace.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **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** |
|  | **Private Equity** | **Real Assets** | **Credit** | **Global IP&S** | **Equities** | **Corporate Advisory** | **Corporate Center** | **Total** |
| In Brazil | 34403 | 49080 | 41932 | 31681 | 24682 | 9498 |  | 191276 |
| Abroad | 31471 | 15582 | 74237 | 160615 | 19672 | - | - | 301577 |
| **Gross revenue from services rendered** | **65874** | **64662** | **116169** | **192296** | **44354** | **9498** | **-** | **492853** |
| *Fund Advisory fee* |  | 2569 |  | 40242 |  | 9498 |  | 52309 |
| *Fund Management fee* | 65874 | 61727 | 111452 | 128179 | 39131 |  |  | 406363 |
| *Other revenues* |  | 365 |  | 21841 |  |  |  | 22206 |
| *Fund Performance fee* |  | 1 | 4717 | 2034 | 5223 |  |  | 11975 |
| Taxes and contributions | (3869) | (3005) | (4310) | (3243) | (1808) | (822) | - | (17057) |
| **Net revenue from services rendered** | **62005** | **61657** | **111859** | **189053** | **42546** | **8676** | **-** | **475796** |
| (-) General and administrative expenses | (8334) | (17938) | (46974) | (54466) | (16402) | (3767) | (197842) | (345723) |
| Share-based payments | - | - | - | - | - | - | (11997) | (11997) |
| **Operating profit** | **53671** | **43719** | **64885** | **134587** | **26144** | **4909** | **(209839)** | **118076** |
| Finance income |  |  |  |  |  |  |  | 88959 |
| Finance cost |  |  |  |  |  |  |  | (54765) |
| **Finance result, net** |  |  |  |  |  |  |  | **34194** |
| **Equity Gain/Loss** |  |  |  |  |  |  |  | **(6197)** |
| **Profit before income taxes** |  |  |  |  |  |  |  | **146073** |
| Income taxes |  |  |  |  |  |  |  | (23372) |
| **Profit for the period** |  |  |  |  |  |  |  | **122701** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **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** |
|  | **Private Equity** | **Real Assets** | **Credit** | **Global IP&S** | **Equities** | **Corporate Advisory** | **Corporate Center** | **Total** |
| In Brazil | 17005 | 24175 | 23679 | 14712 | 13149 | 8998 |  | 101718 |
| Abroad | 15620 | 9955 | 37589 | 75288 | 9755 | - | - | 148207 |
| **Gross revenue from services rendered** | **32625** | **34130** | **61268** | **90000** | **22904** | **8998** | **-** | **249925** |
| *Fund Advisory fee* |  | 533 |  | 17611 |  | 8998 |  | 27142 |
| *Fund Management fee* | 32625 | 33407 | 56567 | 61035 | 19483 |  |  | 203117 |
| *Other revenues* |  | 189 |  | 10755 |  |  |  | 10944 |
| *Fund Performance fee* |  | 1 | 4701 | 599 | 3421 |  |  | 8722 |
| Taxes and contributions | (1914) | (1496) | (2242) | (1499) | (920) | (779) | - | (8850) |
| **Net revenue from services rendered** | **30711** | **32634** | **59026** | **88501** | **21984** | **8219** | **-** | **241075** |
| (-) General and administrative expenses | (4509) | (7740) | (24616) | (26713) | (8483) | (3080) | (100140) | (175281) |
| Share-based payments | - | - | - | - | - | - | (6994) | (6994) |
| **Operating profit** | **26202** | **24894** | **34410** | **61788** | **13501** | **5139** | **(107134)** | **58800** |
| Finance income |  |  |  |  |  |  |  | 51361 |
| Finance cost |  |  |  |  |  |  |  | (27380) |
| **Finance result, net** |  |  |  |  |  |  |  | **23981** |
| **Equity Gain/Loss** |  |  |  |  |  |  |  | **(3996)** |
| **Profit before income taxes** |  |  |  |  |  |  |  | **78785** |
| Income taxes |  |  |  |  |  |  |  | (12012) |
| **Profit for the period** |  |  |  |  |  |  |  | **66773** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **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** |
|  | **Private Equity** | **Real Assets** | **Credit** | **Global IP&S** | **Equities** | **Corporate Advisory** | **Corporate Center** | **Total** |
| In Brazil | 38568 | 47037 | 33230 | 39289 | 30531 | 9777 |  | &nbsp;&nbsp;&nbsp;&nbsp;198432 |
| Abroad | 35555 | 4887 | - | 4541 | 3138 | 10132 | - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58253 |
| **Gross revenue from services rendered** | **74123** | **51924** | **33230** | **43830** | **33669** | **19909** | **-** | **256685** |
| *Fund Advisory fee* |  | 2699 | 306 | 618 |  | 19909 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23532 |
| *Fund Management fee* | 74123 | 48892 | 29309 | 42969 | 29620 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;224913 |
| *Fund Performance fee* |  | 333 | 3615 | 243 | 4049 |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8240 |
| Taxes and contributions | (4359) | (2811) | (1873) | (3968) | (2007) | (1352) | - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16370) |
| **Net revenue from services rendered** | **69764** | **49113** | **31357** | **39862** | **31662** | **18557** | **-** | **240315** |
| (-) General and administrative expenses | (8142) | (9809) | (9150) | (18042) | (7063) | (6748) | (74444) | &nbsp;&nbsp;&nbsp;&nbsp;(133398) |
| Share-based payments | (10) | (46) | (5) | (10) | (13) | - | (11724) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11808) |
| **Operating profit** | **61612** | **39258** | **22202** | **21810** | **24586** | **11809** | **(86168)** | **95109** |
| Finance income |  |  |  |  |  |  |  | 54842 |
| Finance cost |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(53833) |
| **Finance result, net** |  |  |  |  |  |  |  | **1009** |
| **Profit before income taxes** |  |  |  |  |  |  |  | **96118** |
| Income taxes |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22063) |
| **Profit for the period** |  |  |  |  |  |  |  | **74055** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **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** |
|  | **Private Equity** | **Real Assets** | **Credit** | **Global IP&S** | **Equities** | **Corporate Advisory** | **Corporate Center** | **Total** |
| In Brazil | 23100 | 24821 | 18951 | 19252 | 14817 | 9589 |  | 110530 |
| Abroad | 22981 | 2474 | - | 2576 | 1653 | - | - | 29684 |
| **Gross revenue from services rendered** | **46081** | **27295** | **18951** | **21828** | **16470** | **9589** | **-** | **140214** |
| *Fund Advisory fee* |  | 2400 |  | 609 |  | 9589 |  | 12598 |
| *Fund Management fee* | 46081 | 24562 | 15344 | 20986 | 14755 |  |  | 121728 |
| *Fund Performance fee* |  | 333 | 3607 | 233 | 1715 |  |  | 5888 |
| Taxes and contributions | (2601) | (1507) | (1063) | (1955) | (1030) | (829) | - | (8985) |
| **Net revenue from services rendered** | **43480** | **25788** | **17888** | **19873** | **15440** | **8760** | **-** | **131229** |
| (-) General and administrative expenses | (4816) | (5468) | (5372) | (9783) | (3364) | (3241) | (45844) | (77888) |
| Share-based payments | - | - | - | - | - | - | (5660) | (5660) |
| **Operating profit** | **38664** | **20320** | **12516** | **10090** | **12076** | **5519** | **(51504)** | **47681** |
| Finance income |  |  |  |  |  |  |  | 22231 |
| Finance cost |  |  |  |  |  |  |  | (29885) |
| **Finance result, net** |  |  |  |  |  |  |  | **(7654)** |
| **Profit before income taxes** |  |  |  |  |  |  |  | **40027** |
| Income taxes |  |  |  |  |  |  |  | (11679) |
| **Profit for the period** |  |  |  |  |  |  |  | **28348** |

---

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **24** | **Legal Claims** |

---

As of June 30, 2025 and December 31, 2024, the Entity is not aware of disputes classified as probable chance of loss.

Find below the disputes classified as possible chance of loss segregated into labor, tax and civil,

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**06/30/2025** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12/31/2024** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Labor | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Civil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20467** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23867** |

---

*<u>Tax Claims</u>*

In the second quarter of 2025, Vinci Gestora de Recursos Ltda entered into an installment plan related to a tax administrative proceeding concerning social security contributions and settled its outstanding liabilities in the amount of R$974, a discount of approximately 75%.

On March 21, 2018, the Brazilian federal revenue opened a tax assessment against Vinci Equities for the collection of open debts of IRPJ, CSLL, PIS and COFINS in the amount of R$18,985 (December 31, 2024: R$19,470) for the calendar year of 2013.

**Vinci Compass Investments Ltd.**

**Notes to the interim consolidated financial statements<br> All amounts in thousands of Brazilian Reais, unless otherwise stated** 

---

| | |
|:---|:---|
| **25** | **Share-based payments** |

---

The Entity provides benefits to its employees through a share-based incentive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **Share-based compensation plans approved in 2025** 

In January 2025, the Board of Directors approved a fourth Stock Option Plan, which aims to grant up to 2,569,000 options, each entitling the beneficiary to purchase one Class A common share. Such options have a weighted average exercise price per share in the amount of US$10.70; provided that, unless otherwise provided for in an option agreement, this exercise price will be reduced by the amount per share distributed to our shareholders from the date of the grant of the option, whether as dividends, interest on capital, redemption, capital reduction or others. Options will become eligible to be exercised in January 2028.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** **Outstanding shares granted** 

The following table refers to the outstanding shares granted plan as of June 30, 2025, and December 31, 2024.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan |
|  | SOP 2021(\*) | RSU 2022 | SOP 2023 | SOP 2024 (\*\*) | SOP 2025 | TOTAL |
| **Outstanding on 12/31/2023** | **1482753** | **688779** | **1116884** | **-** | **-** | **3288416** |
| Granted |  |  |  | 1273492 |  | 1273492 |
| Forfeited |  | (4310) | (17412) | (12600) |  | (34322) |
| Vested | (1482753) | (68311) | - | - | - | (1551064) |
| **Outstanding on 12/31/2024** | **-** | **616158** | **1099472** | **1260892** | **-** | **2976522** |
| Granted |  |  |  |  | 2018965 | 2018965 |
| Forfeited |  | (297) | (2698) |  |  | (2995) |
| Vested | - | (76185) | - | (20243) | - | (96428) |
| **Outstanding on 06/30/2025** | **-** | **539676** | **1096774** | **1240649** | **2018965** | **4896064** |

---

(\*) All the stock options were vested on February 1st, 2024, and the participants had a period of 12 months to exercise their vested options from February 1, 2024. On February 1, 2025, no options were exercised by any participant.

(\*\*) The shares vested during the first semester of 2025 have not been exercised yet by the participants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** **Total Compensation Expense** 

The following table refers to the share-based compensation expense for the period ended on June 30, 2025, and June 30, 2024.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | 30/06/2025 | 30/06/2025 | 30/06/2025 | 30/06/2025 | 30/06/2025 | 30/06/2025 |
|  | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan |
|  | SOP 2021 | RSU 2022 | SOP 2023 | SOP 2024 | SOP 2025 | TOTAL |
| Share-based compensation |  | (2745) | (1893) | (3589) | (3104) | (11331) |
| Social charges | - | (666) | - | - | - | (666) |
| **Total expense** | **-** | **(3411)** | **(1893)** | **(3589)** | **(3104)** | **(11997)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | 30/06/2024 | 30/06/2024 | 30/06/2024 | 30/06/2024 | 30/06/2024 | 30/06/2024 |
|  | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan | Share-based Compensation Plan |
|  | SOP 2021 | RSU 2022 | SOP 2023 | SOP 2024 | SOP 2025 | TOTAL |
| Share-based compensation | (119) | (3293) | (1912) | (3165) |  | (8489) |
| Social charges | - | (3319) | - | - | - | (3319) |
| **Total expense** | **(119)** | **(6612)** | **(1912)** | **(3165)** | **-** | **(11808)** |

---