XP Inc Results Presentation Deck

Adjusted Net Income and Margin Net margin expansion driven by strong growth in Retail, operating leverage and a lower tax rate Adjusted Net Income (in R$ mn) Adjusted Net Margin 415 ■ 1Q20 23.9% +104% 846 Highlights Adjusted Net Income grew 104% vs. 1Q20, explained by (1) strong growth in Retail Revenue, (2) operating leverage in SG&A and (3) a lower effective tax rate. Note: See appendix for a reconciliation of Adjusted Net Income. 1Q21 32.2% YOY Growth Across 1021 P&L Gross Revenue Adj. EBITDA Adj. Net Income +50% Operating leverage +75% Margin expansion YoY Efficient Corporate Structure +535 bps +104% XP nc. +827 bps 5 15

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