#1XP Inc. Institutional Presentation#2XP Inc. Important Disclosure THE INFORMATION CONTAINED IN THIS PRESENTATION IS CONFIDENTIAL INFORMATION. ACCORDINGLY, THE INFORMATION INCLUDED HEREIN MAY BE REFERRED TO, QUOTED OR OTHERWISE DISCLOSED BY YOU. IN REVIEWING THIS INFORMATION, YOU ARE ACKNOWLEDGING THE CONFIDENTIAL NATURE OF THIS INFORMATION AND ARE AGREEING TO ABIDE BY THE TERMS OF THIS DISCLAIMER. THIS CONFIDENTIAL INFORMATION IS BEING MADE AVAILABLE TO EACH RECIPIENT SOLELY FOR ITS INFORMATION AND IS SUBJECT TO AMENDMENT. This presentation is prepared by XP Inc. (the "Company," "we" or "our"), is solely for informational purposes and is strictly private and confidential. This presentation does not constitute a prospectus and does not constitute an offer to sell or the solicitation of an offer to buy any securities. In addition, this document and any materials distributed in connection with this presentation are not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. You and your directors, officers, employees, agents and affiliates must hold this presentation and any oral information provided in connection with this presentation in strict confidence and may not communicate, reproduce, distribute or disclose it to any other person, or refer to it publicly, in whole or in part at any time except with our prior written consent. If you are not the intended recipient of this presentation, please delete and destroy all copies immediately. This presentation was prepared by the Company. Neither the Company nor any of its affiliates, officers, employees or agents, make any representation or warranty, express or implied, in relation to the fairness, reasonableness, adequacy, accuracy or completeness of the information, statements or opinions, whichever their source, contained in this presentation or any oral information provided in connection herewith, or any data it generates and accept no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) in relation to any of such information. The information and opinions contained in this presentation are provided as at the date of this presentation, are subject to change without notice and do not purport to contain all information that may be required to evaluate the Company. The information in this presentation is in draft form and has not been independently verified. The Company and its affiliates, officers, employees and agents expressly disclaim any and all liability which may be based on this presentation and any errors therein or omissions therefrom. Neither the Company nor any of its affiliates, officers, employees or agents makes any representation or warranty, express or implied, as to the achievement or reasonableness of future projections, management targets, estimates, prospects or returns, if any. The information contained in this presentation does not purport to be comprehensive and has not been subject to any independent audit or review. Certain of the financial information as of and for the periods ended December 31, 2018, 2017 and 2016 has been derived from audited financial statements and all other financial information has been derived from unaudited interim financial statements. A significant portion of the information contained in this presentation is based on estimates or expectations of the Company, and there can be no assurance that these estimates or expectations are or will prove to be accurate. The Company's internal estimates have not been verified by an external expert, and the Company cannot guarantee that a third party using different methods to assemble, analyze or compute market information and data would obtain or generate the same results. Statements in the presentation, including those regarding the possible or assumed future or other performance of the Company or its industry or other trend projections, constitute forward-looking statements. These statements are generally 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 the control of the Company. 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. These risks and uncertainties include factors relating to: (1) general economic, financial, political, demographic and business conditions in Brazil, as well as any other countries we may serve in the future and their impact on our business; (2) fluctuations in interest, inflation and exchange rates in Brazil and any other countries we may serve in the future; (3) competition in the financial services industry; (4) our ability to implement our business strategy; (5) our ability to adapt to the rapid pace of technological changes in the financial services industry; the reliability, performance, functionality and quality of our products and services and the investment performance of investment funds managed by third parties or by our asset managers; (7) the availability of government authorizations on terms and conditions and within periods acceptable to us; (8) our ability to continue attracting and retaining new appropriately-skilled employees; (9) our capitalization and level of indebtedness; (10) the interests of our controlling shareholders; (11) changes in government regulations applicable to the financial services industry in Brazil and elsewhere; (12) our ability to compete and conduct our business in the future; (13) the success of operating initiatives, including advertising and promotional efforts and new product, service and concept development by us and our competitors; (14) changes in consumer demands regarding financial products, customer experience related to investments and technological advances, and our ability to innovate to respond to such changes; (15) changes in labor, distribution and other operating costs; (16) our compliance with, and changes to, government laws, regulations and tax matters that currently apply to us; (17) other factors that may affect our financial condition, liquidity and results of operations. 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 the Company does not undertake any obligation to update these forward-looking statements. Past performance does not guarantee or predict future performance. Moreover, the Company and its affiliates, officers, employees and agents do not 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. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented and we do not intend to update any of these forward-looking statements. Market data and industry information used throughout this presentation are based on management's knowledge of the industry and the good faith estimates of management. The Company also relied, to the extent available, upon management's review of industry surveys and publications and other publicly available information prepared by a number of third party sources. All of the market data and industry information used in this presentation involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Although the Company believes that these sources are reliable, there can be no assurance as to the accuracy or completeness of this information, and the Company has not independently verified this information. The contents hereof should not be construed as investment, legal, tax or other advice and you should consult your own advisers as to legal, business, tax and other related matters concerning an investment in the Company. The Company is not acting on your behalf and does not regard you as a customer or a client. It will not be responsible to you for providing protections afforded to clients or for advising you on the relevant transaction. 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 the Company's operations. We also believe that these non-GAAP financial measures reflect an additional way of viewing aspects of the Company's 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 the Company's business. Further, investors regularly rely on non-GAAP financial measures to assess operating performance and such measures may highlight trends in the Company's 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 the Company's 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.#3Index 01 XP Overview 02 Our Business 03 Financial Highlights#41 XP Overview#5XP At-a-Glance 3.6 million ACTIVE CLIENTS 11,300+ IFAS R$ 846 billion AUC Note: KPIs as of June 30th, 2022. 3 RETAIL BRANDS 76 NPS 800+ INVESTMENT PRODUCTS R$ 13.7 billion GROSS REVENUE LTM 2Q22 R$ 4.9 billion ADJ. EBITDA LTM 2022 R$ 4.2 billion ADJ. NET INCOME LTM 2Q22 XP _inc. 5#6Our Self-Reinforcing Ecosystem All stakeholders benefit from network effects RETAIL XP Wealth Services xp investimentos clear rico DIGITAL CONTENT >XPEED SCHOOL by XP Inc. XP Research Social Network FL, XP Direct/ Online Services Over 11.3k IFAs A DM10 XP Inc. EXPERT spiti Infomoney INSTITUTIONAL Dedicated Support Teams Corporate Access Trading Desks ANTECIPA Du Agro Complementary Services Capital Market Securities Placement ISSUER SERVICES XP _inc.#7Connecting the Dots to Build a Leading Ecosystem XP's revenue represent slightly more than 1% of the Brazilian Financial Industry INVESTMENTS BUILDING MOATS EDUCATION CLIENT CENTRICITY DISTRIBUTION CAPABILITIES HARD TO PENETRATE TRUSTED BRAND PROFITABILITY R$ 70 BILLION TAM 2001-2019 Building a unique business while competing with large banks INROADS INTO NEW VERTICALS LEVERS TO ACCELERATE GROWTH INSURANCE PENSION FUNDS CREDIT CREDIT CARD FX COMPANIES (SMB TO CORPORATE) R$ 350 BILLION TAM 2020-2023 Paving the way to enhance relationships and expand TAM TAM EXPANSION THE BIG DREAM GETS BIGGER + BRAZILIAN INDIVIDUALS AND COMPANIES ADRESSED + SHARE OF WALLET + CROSS SELLING R$ 800 BILLION TAM 2024 ONWARDS Reaping the benefits of a truly complete ecosystem XP Inc.#8Corporate Governance XP Controle 66.17% voting rights 18.46% total shares Compliance & Ethics Compensation Free Float 18.78% voting rights 52.38% total shares Strategic Risk GENERAL ATLANTIC 1.31% voting rights 3.66% total shares XP inc. Board of Directors Thiago Maffra - CEO 9 Executive Directors Executive Committees Security External Auditors Regulators MLP² Group Itaú¹ 13.74% voting rights 25.01% total shares Treasury Treasury XP Inc. 0.0% voting rights 0.50% total shares Funds Source: XP Inc, data as of June 30, 2022. 1 Group Itaú refers to total position from Itaú Unibanco Holding, Itaúsa S.A., São Carlos Investimentos and São Marcos Investimentos. 2 Equivalent to money laundering prevention and terrorism funding combat Audit Committee Credit Products XP Inc.#92 Our Business#10How XP is Disrupting the Financial Market in Brazil Unique business model which was built based on client-centricity and financial education MISSION-DRIVEN CULTURE Improving people's lives: customer centric Q SELF-REINFORCING ECOSYSTEM Powerful network effects: Retail + Institutional + Issuers + Digital Content NPS 76 SUPERIOR PRODUCT & SERVICES PLATFORM Open platform with 800+ products in all asset classes DIFFERENTIATED TECHNOLOGY XP _inc. Proprietary cloud-based platform that allows us to innovate quickly, compete effectively and operate efficiently Note: NPS, is an independent widely known survey methodology that measures the willingness of customers to recommend a Company's products and services. The NPS calculation as of a given date reflects the average of the answers in the previous six months. 10#11Mission-Driven Culture: Our Purpose and Values Our strong values and audacious quantitative goals create a dynamic and meritocratic environment DREAM BIG We want people who make impossible missions possible and are motivated by tough challenges Our Purpose is to improve people's lives OPEN MINDED We change our minds and stop projects fast. There is no absolute truth ENTREPRENEURIAL SPIRIT Sense of ownership is what drives everyone to engage in our lifetime project XP nc. FOCUS ON THE CLIENT Offering better services and products since our inception 11#12Superior Product Platform Broad offering allows for customized asset allocation based on client suitability MUTUAL AND HEDGE FUNDS PENSION PLAN AND LIFE INSURANCE STRUCTURED PRODUCTS +800 Investment Options (not including equities and futures) BROKERAGE SECURITIES FIXED INCOME SECURITIES OTHER INVESTMENTS PRODUCTS XP _inc. 12#13How we Monetize our Business Diversified revenues streams across four synergistic segments $ RETAIL 77% of total gross revenue (LTM 2Q22) Management fees Commissions Rebates Spreads Placement fees Interchange fees Other revenues INSTITUTIONAL 12% of total gross revenue (LTM 2Q22) Commissions Spreads Placement fees Other revenues ISSUER SERVICES 6% of total gross revenue (LTM 2Q22) Underwriting fees Advisory fees Other revenues بھوت میمند DIGITAL CONTENT & OTHER 5% of total gross revenue (LTM 2Q22) XP Inc. Interest on Gross Cash ALM Results Courses Advertisement Events Other revenues 13#14Retail: Portfolio of Brands Three brands catering to all investor profiles Retail RETAIL BRAND TARGET INVESTOR PROFILE CHANNELS Note: KPIs as of June 30, 2022. Institutional R$ 846bn AUC xp investimentos MID TO HIGH NET WORTH DIRECT (XP DIRECT) | IFAS Issuer Services 3.6mm active clients clear Thim POWER TRADERS DIRECT Digital Content rico XP _inc. UPCOMING DIGITAL NATIVE DIRECT 14#15Retail: XP Direct Clients and services segmented by wallet size NET WORTH (R$) SERVICE LEVEL Retail DIGITAL < 50K ONLINE CUSTOMER SERVICE xp investimentos ON DEMAND 50K - 300K CUSTOMER Institutional SERVICE CENTRAL HIGH INCOME 300K - 3mm FINANCIAL ADVISOR Issuer Services UNIQUE 3mm - 10mm SENIOR FINANCIAL ADVISOR PRIVATE 10mm - 300mm PRIVATE BANKER Digital Content xp private MULTI-FAMILY OFFICE > 300mm XP Inc. PRIVATE BANKER 15#16Retail: IFA Network We partner with entrepreneurs from all regions of Brazil Retail 10101 11110 01010 IFAs Connect their own brands to XP and leverage on our B2B expertise Constant update of open product platform and functionality Institutional Issuer Services Fa Ancord¹ certification and continuous training required to ensure compliance with XP standards, especially suitability Tech-enabled management tools allow IFAs to focus on their core: investments 1 National Association of Brokers and Distributors of Securities, Foreign Exchange and Commodities ("Associação Nacional das Corretoras e Distribuidoras de Títulos e Valores Mobiliários, Câmbio e Mercadorias"). KPIs as of June 30, 2022. Digital Content TREMENDOUS SCALE 11.3K+ IFAS XP Inc. 16#17Institutional Segment Wide range of products and recognized services Retail #1 RANKING in: ✓ FX & Rates for BRL and LatAm products ✓ Bovespa Equities Ranking ✓ BM&F Ranking ✓ BM&F in equity, FX and interest rate options ✓ Corporate Debt trading and market making SUPERIOR CORPORATE ACCESS Source: XP Inc., Bloomberg, B3 Institutional II DOMESTIC AND INTERNATIONAL CLIENTS ✓ Asset Managers ✓ Pension Funds ✓ Banks and Corporate Treasuries ✓ Family Offices ✓ Insurance Companies Issuer Services N PRODUCTS ✓ Cash Equities ✓ Stock Lending ✓ Derivatives ✓ Commodities ✓ Corporate Bonds ✓ Government Bonds ✓ Mutual Funds ✓ REITS Digital Content GEOGRAPHIC EXPANSION XP Inc. ✓ Offshore opportunity ✓ XP's increasing recognition enables further expansion PROVIDES LIQUIDITY » BRINGS IN NEW PRODUCTS TO PLATFORM » ENHANCES DISTRIBUTION 17#18Issuer Services Complete capital market solutions to corporate clients Retail S DEBT CAPITAL MARKETS Local Debt (DCM): CRIS, CRAS, CDCS, FIDCS, LFs and FIls (REITS) International Debt: Infra debentures and bonds #1 Agricultural ABS (CRA) Structuring #1 REIT Structuring Source: XP Inc., Anbima, Bloomberg, October 31st 2021 Institutional STRUCTURED FINANCE AND SECURITIZATION Structured operations with focus on private credit Swaps and other derivatives #2 Securitization Issuer Services * EQUITY CAPITAL MARKETS Financial advisory in IPOs, follow-ons, block trades and tender offers #1 Retail Distribution of IPOs and FON Offerings #3 IPOs Struturing Digital Content M&A XP Inc. Generate business opportunities by leveraging XP's extensive institutional and retail network co 18#19Digital Content Initiatives to attract, maintain and monetize retail and institutional clients Retail IM INFOMONEY 6mn Unique Monthly Users¹ 66k Top 10 Google Words Monthly² xpe XPEED Institutional +140 Courses Over 97k students Note: Data based on December 31st 2021 ¹Total users summed up in one month 2Number of words related to finance in which Infomoney shows up in top 10 first results RESEARCH PERIMENTATION EXAMIN SCAN EXPER MISS XP RESEARCH +1mn Users ~80 Reports / Monthly (avg) Issuer Services EXPERT EVENTS Expert: Largest Investments Event in Latin America Approximately 5 million people in 2021 DIGITAL CONTENT AND COMMUNICATION » SMALLER CAC Digital Content DIGITAL INFLUENCERS XP Inc. Influencers: 20+mn followers 19#203 Financial Highlights#21Our KPIs Accelerating growth at scale 126 2017 Assets Under Custody - AUC (R$bn) 202 2018 53% CAGR 409 2019 660 2020 815 2021 846 2Q22 539 2017 892 2018 ¹ Active clients is the total number of retail clients served through XP's brands with an AUC above R$100.00 or that have transacted at least once in the last thirty days. Active Clients' ('000) 1,702 2019 53% CAGR 2,777 2020 3,416 2021 XP _inc. 3,629 2Q22 21#22Our Financial Performance Powerful operating leverage 2,065 2017 Gross Revenues (R$mm) 3,216 2018 52% CAGR 5,518 2019 8,711 2020 12,799 2021 13,702 2Q22 LTM GUIDANCE MEDIUM-TERM REVENUE CAGR 35%+ Note: Adjusted Net Income and Adjusted Net Margin exclude non-recurring items and are non-GAAP metrics. Adj. Net Income¹ and Adj. Net Margin² (R$mm, %) 428 2017 22% 491 2018 17% 1,074 2019 21% 66% CAGR 2,270 2020 28% 4,003 2021 33% GUIDANCE ADJ. NET MARGIN 24% - 30% XP Inc. 4,157 2Q22 LTM 32% 22#23Investor Relations [email protected] https://investors.xpinc.com/ XP Inc.