XP Inc Results Presentation Deck

Gross Margin Gross Margin YoY 70.8% 2021 -0.8 bps 70.3% 2022 Highlights ■ Despite possible quarterly volatility, Gross Margin for 2023 is expected to be in line with 2021 and 2022. Gross Margin Bridge QoQ 72.2% 3Q22 2.6% 1.1% Commissionable Prepaid Revenue Mix Expense Write-off 1.5% Credit Cards 1.9% Other XP Inc. 65.1% 4Q22 Highlights ■ Gross Margin compression mainly led by items that are expected to normalize going forward. 14

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