XP Inc Results Presentation Deck

Adjusted EBITDA and Adjusted Net Income Operational Leverage despite investments in technology, client experience and product offering Adjusted EBITDA¹ (in R$ mn) Other Operating Income, Net % Adj EBITDA Margin Headcount 1,043 18 ■ 1,025 1Q21 39.7% 3,973 +14% 1,390 233 1,157 4Q21 42.7% 6,193 1,191 1,191 1Q22 38.2% 6,323 Highlights Adjusted EBITDA grew 14% year over year, driven mainly by higher relative SG&A expenses due to our investments in new initiatives (1) See appendix for a reconciliation of Adjusted Net Income and Adjusted EBITDA. (2) Normalized Effective Tax Rate. Adjusted Net Income¹ (in R$ mn) % Adj Net Margin Effective Tax Rate² 846 ■ 1Q21 32.2% 17.4% +17% 1,086 4Q21 33.3% 22.5% 987 1Q22 31.6% 16.0% XP Inc. Highlights Adjusted Net Income grew 17% YoY, in connection with the factors explained in the Adjusted EBITDA and a lower normalized effective tax rate. 13

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