XP Inc Results Presentation Deck

SG&A Expenses Corporate transformation process allowed for resource optimization and increased efficiency Total SG&A (in R$ bn)¹ -SG&A¹ Expense Ratio (SG&A¹/Net Revenue) 42.6% 37.1% 39.1% 2019 39.2% 2020 ال... 2021 42.0% Note 1 - Excludes Revenue from incentives from Tesouro Direto, B3 and Others. 5.6 2022 SHIM Adjustments to cost structure with no impact on service level nor strategic plan Leaner and sustainable cost structure from 2023 onwards 2023 GUIDANCE SG&A¹ between R$5.0 - 5.5 billion vs FY22 SG&A¹ of R$5.6 billion XP Inc.

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