XP Inc Results Presentation Deck

Adjusted Net Income Adjusted Net Income¹ (in R$ mn) % Adj Net Margin 721 4Q20 30.1% +51% 1,039 3Q21 32.8% 1,086 (1) See appendix for a reconciliation of Adjusted Net Income. 4Q21 33.3% Highlights Adjusted Net Income grew 51% vs. 4Q20, explained by (1) strong growth in Retail Revenue, (2) operating leverage in SG&A and (3) a lower effective tax rate. 2,270 FY20 27.8% +76% 4,003 FY21 33.1% XP Inc. ▪ Record R$4 billion Adjusted Net Income for 2021, roughly 4x Adjusted Net Income for 2019 16

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