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 Income¹ (in R$ mn) Adjusted Net Margin 570 ■ 3Q20 27.1% +82% 1,039 Note: See appendix for a reconciliation of Adjusted Net Income. 3Q21 Highlights Adjusted Net Income grew 82% vs. 3Q20, explained by (1) strong growth in Retail Revenue, (2) operating leverage in SG&A and (3) a lower effective tax rate. 32.8% YOY Growth Across 3021 P&L Gross Revenue +50% Adjusted EBITDA Adjusted Net Income Operating leverage +61% Corporate Structure Margin expansion YoY +225 bps +82% XP Inc. +561 bps 14

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