SUMMARY

1. Message from the Board of Directors

Dear Shareholder,

It is with great pleasure that I invite you, a shareholder of Santander Brasil, to participate in our Ordinary General Meeting ("OGM"), to be held on April 29, 2026, at 3 p.m.

Besides this Management Proposal (“Proposal”) a Manual for Participation in the OGM (“Manual”) was prepared to assist you in understanding the matters presented, providing a conscious and reasoned decision-making process, anticipating possible clarifications and voting guidelines.

Pursuant to the Call Notice made available, we shall take resolutions on the following matters:

(i)         To TAKE the management accounts, to examine, discuss and vote on the Company’s Financial Statements related to the fiscal year ended on December 31, 2025, accompanied by the Management Report, the balance sheet, other parts of the financial statements, external auditors’ opinion and the Audit Committee Report;

(ii)       To DECIDE on the allocation of net income for the year 2025 and the distribution of dividends; and

(iii) To FIX the annual global compensation of the Company´s management and members of Audit Committee for the year of 2026.

As established by the Brazilian Securities and Exchange Commission (CVM), in order to facilitate its analysis and evaluation of the matters to be resolved on our OGM, this Proposal includes exhibits containing the information made available in addition to the Call Notice.

We are at your disposal to clarify any questions through the emails acionistas@santander.com.br oriented at non-financial individual and corporate investors and ri@santander.com.br for institutional investors.

We hope that this Proposal and the Manual fulfills its purpose in assisting your decision making. Your participation is essential for the Company.

Sincerely,

Deborah Stern Vieitas

Chairwoman of the Board of Directors

2. Call Notice

[to be published in the newspaper “Valor Econômico” in editions of March 28 and 31, 2026 and April 01, 2026]

BANCO SANTANDER (BRASIL) S.A.

Publicly-Held Company with Authorized Capital

CNPJ/MF 90.400.888/0001-42 - NIRE 35.300.332.067

CALL NOTICE – ORDINARY GENERAL MEETING - Shareholders are hereby invited to attend the Ordinary General Meetings (“OGM”) to be held on April 29, 2026, at 3:00 PM, at the principal place of business of the Company, located at Avenida Presidente Juscelino Kubitschek No. 2041 – mezzanine, Vila Nova Conceição, São Paulo/SP, to resolve upon the following Agenda:

(i)         To TAKE the management accounts, to examine, discuss and vote on the Company’s Financial Statements related to the fiscal year ended on December 31, 2025, accompanied by the Management Report, the balance sheet, other parts of the financial statements, external auditors’ opinion and the Audit Committee Report;

(ii)       To DECIDE on the allocation of net income for the year 2025 and the distribution of dividends;

(iii) To FIX the annual global compensation of the Company´s management and members of Audit Committee for the year of 2026.

Observations for participation and Voting during the Meeting

Participation in the Meeting: Shareholders, their legal representatives or attorneys-in-fact may participate in the Meeting in any of the following ways:

In person - The shareholders or their legal representatives shall present themselves for the OGM with the appropriate identity documents. In the event of representation of a shareholder by an attorney-in-fact, shareholders shall provide the Company with a power of attorney granted according to the applicable law, to be delivered at the Company's Headquarters, at least seventy-two (72) hours before the OGM is held;

Remote Voting Ballot: the Company implemented the remote voting system pursuant to CVM Resolution 81/22, as amended, enabling our Shareholders to send remote voting ballots directly to the Company, to the bookkeeper or through their respective custodian agents or Central Depository, in accordance with the procedures described in the General Meeting Participation Manual.

As provided for in Article 5, § 4, of CVM Resolution No. 81/22, with the amendments introduced by CVM Resolutions No. 59/21 and 204/24, the Company understands that holding the OGM in person allows for a closer environment between shareholders and the attending Company's management, facilitating the clarification of doubts and the discussion of relevant matters, enabling a closer environment to deliberations and decision-making. In addition, it ensures greater security in the transmission of information, avoiding risks associated with technical or cyber failures.

In this sense, the Company recommends and encourages the participation of its shareholders in its meetings, using the various participation channels made available, whether through the use of remote voting instruments, through the available electronic means or even by sending written votes to the Company or granting standardized proxies with voting instructions, in accordance with the instructions made available in the Management Proposal for the Ordinary General Meeting of April 29, 2026.

General Instructions

1. As provided in CVM Resolution No. 70/22, the minimum percentage of participation in the voting capital required for the application of the cumulative voting process (processo de voto múltiplo) for the election of the members of the Board of Directors is of 5%;

2. As provided in § 2 of article 161 of Law No. 6,404/76 and art. 4 of CVM Resolution No. 70/22, the installation of a Fiscal Council by the General Meeting shall occur at the request of shareholders representing at least 2% (two percent) of the common shares, or 1% (one per cent) of preferred shares; and

3. The documents related to the matters to be examined and resolved at the OGM are available to shareholders (i) at the Company's headquarters, at Avenida Presidente Juscelino Kubitschek, nº 2041, Wtorre JK, 9th floor - Corporate Legal Department, where they can be consulted on business days, from 10:00 a.m. until 4:00 p.m., and on its investor relations website (www.ri.santander.com.br – at Corporate Governance >> Minutes of the Meeting); (ii) on the website of the CVM – Comissão de Valores Mobiliários (www.cvm.gov.br) and (iii) on the website of the stock exchange B3 S.A. - Brasil, Bolsa, Balcão (http://www.b3.com.br).

São Paulo, March 27, 2026

Deborah Stern Vieitas

Chairwoman of the Board of Directors.

3. Participation of shareholders in the OGM

Santander Brasil shareholders may participate in the OGM in person, by a duly appointed proxy, as specified in item 3.2 below, or by Remote Voting.

Shareholders will be required to provide the following documents to participate in the OGM:

3.1. In-person Participation

Santander Brasil shareholders may participate in the OGM by attending the place where it will be held and declaring their vote, according to the types of shares they own (common and/or preferred), and the matters to be voted on.

Corporate shareholders, such as companies and investment funds, shall be represented in accordance with their Articles of Association, Articles of Organization or Bylaws, delivering documents proving the regularity of the representation, accompanied by the Minutes of the election of the Managers, if applicable, at the place and term indicated in the item below. Prior to the OGM, the shareholders shall sign the Attendance Book. Shareholders without voting rights may attend the OGM and discuss all matters submitted for resolution.

3.2. Participation by Proxy

The shareholder may be represented at the OGM by an attorney-in-fact, duly appointed under a public or private instrument, and pursuant to article 126, § 1 of the Corporations Act, the attorneys-in-fact shall have been appointed less than one (1) year ago, and they shall be (i) shareholders of the Company, (ii) managers of the Company, (iii) lawyers, or (iv) financial institutions, with the investment fund’s manager being responsible for representing the quota holders.

¹ The following documents may be presented: (i) General Registration Identity Card (RG); (ii) Foreigner Registration Identity Card (RNE); (iii) Valid passport; (iv) Class Organization Card valid as a civil identity for legal purposes (e.g.: OAB, CRM, CRC, CREA); or (v) National Driver's License (CNH) with photo.

² Articles of Incorporation/Organization and Minutes/Instruments of election of legal representatives registered with the competent body.

The originals or copies of the documents mentioned above may be delivered at the Company's principal place of business by the time the OGM is held.

However, in order to facilitate shareholders' access to the OGM, we recommend that the delivery of such documents be made at least seventy-two (72) hours before the OGM is held.

In the case of submission of documents via email, we request that the shareholder contact the Company, so that the originals or copies can be delivered by the day the OGM is held.

In case the Shareholder is unable to attend the OGM or cannot yet be represented by an attorney-in-fact of his/her/their choice, the Company will make available an attorney-in-fact to vote for the shareholder, in accordance with his/her/their voting instructions, according to the power of attorney template in Exhibit I to this Proposal.

Furthermore, it should be noted that in addition to the power of attorney, the shareholder shall forward the documents required by the Company to participate in the OGM, as provided for in item 3 above.

The documents shall be delivered at the Company’s principal place of business, at Avenida Presidente Juscelino Kubitschek, No. 2041 – Bloco A – Vila Nova Conceição - São Paulo – SP, 26th floor – Company’s Investor Relations, email: ri@santander.com.br.

3.3. Remote Voting Participation

Pursuant to articles 26 et seq. of CVM Ruling No. 81/22, the Company's shareholders may also vote at shareholders’ meetings by means of remote voting, to be formalized through the “remote voting ballot” (“Ballot”), the template of which is available in the Corporate Governance area of the Company’s Investor Relations website (www.ri.santander.com.br), or on the website of the Brazilian Securities and Exchange Commission – CVM (http://sistemas.cvm.gov.br/?CiaDoc).

The shareholder that chooses to exercise his/her/their voting rights remotely shall do so by one of the options described below:

(I)       Submittal of the Ballot to Custody agents or Central Depository

The Shareholder that chooses to cast remote voting through his/her/its respective custodian agent (“Custodian") shall convey his/her/their voting instructions in accordance to the rules determined by the Custodian, which shall forward said voting ballots to the Central Depository of B3 S.A. - Brasil, Bolsa, Balcão. Shareholders shall contact his/her/their respective Custodians and Central Depository to check the procedures established by them for issuance of ballot voting instructions, as well as the documents and information required to do so.

The Shareholder shall convey the instructions for completion of the Ballot to his/her/their Custody agents or Central Depository by 04/24/2026 (including), unless defined otherwise by them.

(II)       Submittal of the Ballot by the Shareholder to the Bookkeeper

The Shareholder who chooses to cast the remote vote through the Company's Bookkeeper shall observe the following instructions, so that the Ballot can be deemed valid and the votes are counted:

(i) all fields shall be duly completed;

(ii) all pages shall be initialed;

(iii) the last page shall be signed by the Shareholder or his/her/their legal representative(s), as applicable, and in accordance with the applicable legislation.

The following documents shall be forwarded to the Bookkeeper:

(i) original copy of the Ballot, duly completed, initialed and signed; and

(ii) copy of the following documents:

• Individual (Shareholder or legal representative): Identity document with photo (RG and CPF; CNH or Professional Card duly attested by the competent authorities, containing CPF number).

• Legal entity: (i) Articles of Organization or Bylaws duly updated, with the documents proving the powers of representation (minutes of election); (ii) Identity document with photo of the representatives (RG and CPF; CNH or Professional Card duly attested by the competent authorities, containing CPF number).

• Investment fund: (i) Latest consolidated Regulations for the fund, as well as the Bylaws or Articles of Organization of its manager, in addition to the corporate documentation that grants proxy powers (minutes of officers’ election and/or power of attorney); (ii) Identity Card with a photograph of the representatives (RG and CPF; CNH (driver’s license) or official Professional Card containing the CPF enrollment number).

The documents shall be sent to the Bookkeeper within 4 days before the date of the OGM, in other words, by 04/24/2026 (including) (i) at the following address: Banco Santander (Brasil) S.A. – Shareholders – Bookkeeping of Shares – Rua Amador Bueno, 474 – 2nd floor – Setor vermelho - Santo Amaro – São Paulo/SP – CEP 04752- 005; or (ii) via email, to the electronic address acoes@santander.com.br.

After receiving the documents, the Bookkeeper, within three (3) days, will inform the Shareholder regarding the receipt of the documents and their acceptance. If the submitted documentation is not considered suitable, the Ballot shall be considered invalid, and the Shareholder may regularize it by 04/24/2026 (including).

Ballots received by the Bookkeeper after 04/24/2026 shall be disregarded.

(III)       Submittal of the Ballot directly to the Company

The Shareholder who chooses to cast the remote vote through the Company shall observe the following instructions, so that the Ballot can be deemed valid and the votes are counted:

(i) all fields shall be duly completed;

(ii) all pages shall be initialed;

(iii) the last page shall be signed by the Shareholder or his/her/its legal representative(s), as applicable, and in accordance with the applicable legislation.

The following documents shall be forwarded to the Company:

(i) original copy of the Ballot, duly completed, initialed and signed; and

(ii) copy of the following documents:

• Individual (Shareholder or legal representative): Identity document with photo (RG and CPF; CNH or Professional Card duly attested by the competent authorities, containing CPF number).

• Legal entity: (i) Articles of Organization or Bylaws duly updated, with the documents proving the powers of representation (minutes of election); (ii) Identity document with photo of the representatives (RG and CPF; CNH or Professional Card duly attested by the competent authorities, containing CPF number).

• Investment fund: (i) Last consolidated bylaws of the fund and of the Articles of Association or Organization of its manager, in addition to the corporate documentation granting powers of representation (minutes of election of the officers and/or power of attorney) (ii) Identity document with photo of the representatives (RG and CPF; CNH or Professional Card duly attested by the competent authorities, containing CPF number).

The documents shall be sent to the Company within 4 days before the date of the OGM, in other words, by 04/24/2026 (including) (i) at the following address: Banco Santander (Brasil) S.A. - Investor Relations - Avenida Presidente Juscelino Kubitschek, 2041 – Bloco A - 26th floor – Vila Nova Conceição - São Paulo/SP - CEP 04543-011; or (ii) via email, to the electronic address ri@santander.com.br.

After receiving the documents, the Company, within three (3) days, will inform the Shareholder regarding the receipt of the documents and their acceptance. If the submitted documentation is not considered suitable, the Ballot shall be considered invalid, and the Shareholder may regularize it by 04/24/2026 (including).

Ballots received by the Company after 04/24/2026 shall be disregarded.

General Information:

Ø    in accordance with Article 44 of CVM Resolution nº 81, the Central Depository of B3 S.A. - Brasil, Bolsa, Balcão, upon receiving the voting instructions from the shareholders through their respective custody agents shall disregard any diverging instructions in relation to the same resolution that has been issued by the same CPF or CNPJ registration number; and

Ø    upon termination of the deadline for remote voting, in other words, by 04/25/2026, the shareholder will not be able to change the voting instructions already sent, except if attending the Shareholders' Meeting or represented by power of attorney, upon express request for disregard of the voting instructions sent through the Ballot, before the respective matter(s) is subject to voting.

3.4. ADS holders

Holders of American Depositary Shares (ADSs) shall be given the right to vote on the matters listed on the Agenda, subject to the same criteria applied in relation to national investors, according to the type of shares (common or preferred) on which their ADSs are backed. ADS holders will be duly instructed by The Bank of New York Mellon, depository institution for ADSs backed by Santander Brasil shares.

4. Matters to be resolved at the OGM

Below you shall find clarifications made by the Company’s management regarding each of the items to be resolved in the OGM. According to the Call Notice made available to the shareholders, our OGM shall take resolutions regarding the following matters of the Agenda:

4.1 To TAKE the management accounts, to examine, discuss and vote on the Company’s Financial Statements related to the fiscal year ended on December 31, 2025, accompanied by the Management Report, the balance sheet, other parts of the financial statements, external auditors’ opinion and the Audit Committee Report.

The documents presented by the management are:

i. Management Report showing the operating statistics and the analysis and discussion of the Administrative Officers of the principal accounts of the Statement of Income for the Fiscal Year;

ii. Comments of the administrative officers on the financial condition of the Company (Exhibit II - Item 2 of the Reference Form);

iii. Report on female representation in our organizational structure (Exhibit III);

iii. Copy of the Financial Statements and Explanatory Notes;

iv. Opinion of the Independent Auditors;

v. Summary of the report of the Audit Committee; and

vi. Standardized financial statements form – DFP – (“demonstrações financeiras padronizadas”).

The management documents identified above, except for items ii and iii, were made available to the CVM via the IPE system at the time of disclosure of the Company’s individual and consolidated financial statements, prepared in accordance with Accounting Practices Adopted in Brazil applicable to institutions authorized to operate by the Central Bank of Brazil, on February 4, 2026, and of the Company’s consolidated financial statements prepared in accordance with IFRS as issued by the IASB, made available on February 27, 2026. Such documents can be found on the CVM’s website (www.cvm.gov.br) or on the Company’s website (www.ri.santander.com.br), as per the information in Exhibits II and III of this Proposal.

The Company’s management proposes that the shareholders examine in detail the management accounts and the Company’s Financial Statements so that they may deliberate on their approval.

4.2. To DECIDE on the allocation of net income for the year 2025 and the distribution of dividends.

(a) Net Profit Allocation

The Management presents a proposal for the fiscal year 2025 net profit allocation in compliance with the provisions of Article 10, first paragraph, item II and the respective Annex A to CVM Resolution 81/22. Said proposal is contained in the Exhibit IV to this Management Proposal.

The Company’s net profit for the fiscal year 2025 amounted to R$ 15,463,827,865.44 (fifteen billion, four hundred and sixty-three million, eight hundred and twenty-seven thousand, eight hundred and sixty-five reais and forty-four cents).

Management proposes the following allocation for net income for the year 2025:

1. The amount of R$ 773,191,393.27 (seven hundred and seventy-three million, one hundred and ninety-one thousand, three hundred and ninety-three reais and twenty-seven cents), to the legal reserve account;

2. The amount of R$ 7,620,000,000.00 (seven billion, six hundred and twenty million reais), as interest on equity attributed to the mandatory minimum dividends payable to shareholders, which have already been approved in the meetings of the Board of Directors held on January 10, 2025, April 10, 2025, July 10, 2025, October 10, 2025 and December 22, 2025; and

3. The remaining balance of net profit after the distributions above, in the amount of R$ 7,070,636,472.17 (seven billion, seventy million, six hundred and thirty-six thousand, four hundred and seventy-two reais and seventeen cents), to the Dividend Equalization Reserve account, pursuant to Article 36, item III(a) of the Company’s Bylaws.

The Management understands that the proposal for allocation of net profits above was formulated in accordance with the legal and statutory obligations applicable to the Company, and is in line with the goals and strategies of the Company, which is why the board recommends its approval without restrictions.

(b) Distribution of Dividends

As detailed in Exhibit IV to this Management Proposal, the Company’s management approved the distribution to shareholders of the total amount of R$ 7,620,000,000.00 (seven billion, six hundred and twenty million reais), as interest on equity attributed to the mandatory minimum dividends, which have already been approved in the meetings of the Board of Directors held on January 10, 2025, April 10, 2025, July 10, 2025, October 10, 2025 and December 22, 2025, and were paid to shareholders based on their respective shareholdings in the Company’s capital stock.

4.3. To FIX the annual global compensation of the Company´s management and members of Audit Committee for the year of 2026.

The management presents a proposal for remuneration of the Company’s management, complying with the provisions of Article 13, items I and II of CVM Resolution 81/22 and item 8 of the Reference Form of the Company, on the terms of Exhibit V to this Management Proposal.

For the period from January to December 2026, the amount proposed by management as global compensation for the Company’s management (Board of Directors and Executive Board) is up to R$ 600,000,000.00 (six hundred million reais), covering fixed remuneration, variable remuneration and the stock base remuneration.

The amount proposed by the Board of Directors as global compensation for the members of the Audit Committee for the period of twelve (12) months from January 1, 2026 is up to R$ 4,000,000.00 (four million reais).

EXHIBIT I:
TEMPLATE OF POWER OF ATTORNEY

[SHAREHOLDER], [QUALIFICATION] (“Grantor”), appoints as his/her/its attorneys-in-fact Messrs. CAROLINA SILVIA ALVES NOGUEIRA TRINDADE, Brazilian, married, registered with OAB/RJ under no. 182.414 and under the CPF/ME under no. 124.143.167.13; and RAFAEL TRIDICO FARIA, Brazilian, married, registered with OAB/SP 358.447 and under the CPF/ME under no. 409.544.508-41, both of them lawyers, with commercial address in the Capital City of the State of São Paulo, at Avenida Presidente Juscelino Kubitschek Nos. 2041 - Bloco A - Vila Nova Conceição (“Grantees”) to represent, collectively or individually, regardless of the order of appointment, the Grantor, as shareholder of Banco Santander (Brasil) S.A. ("Company"), at the Company's Ordinary General Meeting to be held, on first call, on April 29, 2026, at 3:00 PM, at the Company's principal place of business, at Avenida Presidente Juscelino Kubitschek No. 2041 - mezzanine, Vila Nova Conceição, São Paulo/SP, and if necessary on second call, on a date to be informed in due course, to whom powers are granted to attend the meeting and vote, on behalf of the Grantor, in accordance with the voting guidelines set forth below for each of the items on the Agenda:

(i)         To TAKE the management accounts, to examine, discuss and vote on the Company’s Financial Statements related to the fiscal year ended on December 31, 2025, accompanied by the Management Report, the balance sheet, other parts of the financial statements, external auditors’ opinion and the Audit Committee Report.

( ) In favor ( ) Against ( ) Abstention

(ii)        To DECIDE on the allocation of net income for the year 2025 and the distribution of dividends.

( ) In favor ( ) Against ( ) Abstention

(iii)      To FIX the annual global compensation of the Company´s management and members of Audit Committee for the year of 2026.

( ) In favor ( ) Against ( ) Abstention

The Grantees are hereby authorized to abstain from any resolution or act for which they have not received, at their discretion, sufficiently specific voting guidelines. The Grantor shall hold the Grantees above harmless and free from any and all claims, disputes, demands, losses, or damages, of any nature, arising from the fulfillment of this instrument, except in cases of acts performed in an abusive and excessive manner, pursuant to the legislation in effect.

This power of attorney shall only be valid for the Company's Ordinary and Extraordinary General Meeting mentioned above.

[Location], [day] of [month] 2026.

_____________________________________________

[Signature of Grantor]

EXHIBIT II

COMMENTS OF THE MANAGEMENT TO THE FINANCIAL CONDITION OF THE COMPANY

(Pursuant to Item III of the article 10 of CVM Resolution 81/22)

2.1. Officers must comment on:

Activity data over the period showed a gradual loss of momentum, with GDP in 3Q25 showing modest growth of 0.1% q/q, compatible with a smooth deceleration process ahead (we do not forecast growth for 4Q). Services and retail showed mixed performance, with some segments still resilient, but already with more widespread signs of moderation. In the inflationary field, the IPCA readings surprised downwards at various times, with more well-behaved cores, lower diffusion and relevant effects of the reduction in fuel prices — especially the cut of almost 5% in the price of gasoline at refineries — helping to contain current inflation and reinforce the disinflation process throughout 4Q25. Inflation ends the year 2025 within the tolerance band of the inflation target.

Ø    Copom kept the Selic rate at 15.00%, but consolidates the reading that the easing cycle begins in 2026.

Throughout the communications between October and December, the Copom kept the Selic at 15.00% and reiterated the need for a "significantly contractionary monetary policy for a prolonged period." Even so, they began to bring clearer signs of transition in the debate – from the emphasis on the "need for further tightening" to the "assessment of the sufficiency of the current level of interest rates". Inflation projections also gradually retreated over the period.

Ø    Fiscal remains in focus, with occasional relief and the need for new revenues ahead.

The period was marked by an intense fiscal agenda, with discussions and approval of measures aimed at increasing revenues, including the holding of an oil auction. Initiatives that increased collection were approved, such as the reduction of tax credits, contributing to the final approval of the budget. At the end of last year, the guidelines for 2026 were sanctioned, establishing a primary result target of 0.25% of GDP. In 2025, the government should have reached the target band with R$12 billion in dividends and R$8 billion from the oil auction.

Ø    Resilience of the global economy amid uncertainties.

The global economy continued to show resilience despite shocks (such as tariffs, geopolitical tensions, and trade uncertainties). The data indicated still positive global growth close to projections (around 2.8 – 3% in 2025) and solid activity in the main economies (US, China, euro area), with heated labor markets, although with signs of slowdown and risks for 2026. Inflation continues to moderate gradually even in the face of pressures derived from the tariffs applied, but remains above targets in some advanced economies. In this scenario, the main central banks continue either to pause or to cut interest rates (few rise). The highlight is the FED, which continued to deliver consecutive cuts and ended the year with rates at 3.75% (at the upper limit).

Ø    Longest shutdown in U.S. history.

In the fourth quarter of 2025, the United States faced a 43-day government shutdown that began on October 1 when Congress failed to approve the necessary budget appropriations for fiscal year 2026. The shutdown became the longest in American history, surpassing the previous record of 35 days, amid a standoff between the Republican-controlled House and the Democratic-dominated Senate over spending content and extension of health care subsidies. About 900,000 federal employees have been placed on furlough, with many more working without pay until it reopens on Nov. 12 following the approval of a funding package. In addition, the shutdown had the impact of the absence of disclosure of relevant economic data, with several data not being collected in the period, causing damage to the analysis of the economic situation.

Ø    Slight reduction in geopolitical tensions.

The fourth quarter of 2025 was marked by gradual signs of de-escalation in some of the main hotspots of global geopolitical tension. In the Middle East, occasional advances in multilateral negotiations and the reduction in the intensity of direct confrontations contributed to an environment of less regional uncertainty. On the trade front, despite the still firm rhetoric, the United States and China have resumed formal channels of dialogue, with initiatives aimed at stabilizing trade and technological flows. In the conflict between Russia and Ukraine, although there has been no structural resolution, there has been a relative decrease in episodes of escalation, accompanied by more coordinated diplomatic efforts by European and Asian actors.

(i)                  Consolidated performance

2025

For the year ended December 31, 2025, we reported consolidated net income of R$12.9 billion, a reduction of 3.3% compared to 2024. Total assets for the year ended December 31, 2025 reached R$1,270,029 million, an increase of 2.52% compared to 2024. Shareholders' equity reached R$125,174 million and adjusted ROAE (excluding the effect of goodwill) was 13.7% in 2025.

Our Basel capital adequacy ratio, in accordance with Central Bank standards, was 15.4% as of December 31, 2025.

On December 31, 2025, our portfolio of loans and advances to gross customers grew 0.4%, reaching R$602,040 million, compared to R$599,688 million on December 31, 2024.

The following table presents a managerial breakdown of our portfolio of loans and advances to customers (gross) by customer category on the dates indicated.

Our total funding as of December 31, 2025 was R$928,236 million, an increase of 0.2% compared to R$926,450 million on December 31, 2024.

2024

For the year ended December 31, 2024, we reported consolidated net income of R$13.4 billion, an increase of 41.2% compared to 2023. Total assets for the year ended December 31, 2024 reached R$1,238,797 million, an increase of 11.4% compared to 2023. Shareholders' equity reached R$119,492 million and adjusted ROAE (excluding the effect of goodwill) was 14.6% in 2024.

Our Basel capital adequacy ratio, in accordance with Central Bank standards, was 14.3% as of December 31, 2024.

As of December 31, 2024, our portfolio of loans and advances to gross customers grew 8.7%, reaching R$599,688 million, compared to R$551,536 million on December 31, 2023.

The following table presents a managerial breakdown of our portfolio of loans and advances to customers (gross) by customer category on the dates indicated.

Our total funding as of December 31, 2024 was R$926,450 million, an increase of 8.8% compared to R$851,742 million on December 31, 2023.

2023

For the year ended December 31, 2023, we reported consolidated net income of R$9.5 billion, a reduction of 33.8% compared to 2022. Total assets for the year ended December 31, 2023 reached R$1,115,653 million, an increase of 13.2% compared to 2022. Shareholders' equity reached R$114,453 million and adjusted ROAE (excluding the effect of goodwill) was 11.3% in 2023.

Our Basel capital adequacy ratio, in accordance with Central Bank standards, was 14.5% as of December 31, 2023.

As of December 31, 2023, our portfolio of loans and advances to gross customers grew 5.1%, reaching R$551,536 million, compared to R$524,655 million on December 31, 2022.

The following table presents a managerial breakdown of our portfolio of loans and advances to customers (gross) by customer category on the dates indicated.

Our total funding as of December 31, 2023 was R$851,742 million, an increase of 14.9% compared to R$741,611 million on December 31, 2022.

(1)       Includes Non-Controlling Interests

(2)       Current Liabilities

(3)       Total liabilities except Stockholders' Equity and Current Liabilities

Debt ratio, according to the formula: third party capital / total assets x 100, is 90.

In addition, the following table shows the direct shareholding (common and preferred shares) as of December 31, 2025:

On December 31, 2025, the Company's capital stock was R$ 65,000,000,000.00, fully paid up and divided into 7,498,531,051 shares, all registered, book-entry and without par value.

In accordance with our bylaws currently in force, our capital stock may be increased up to the limit of the authorized capital, regardless of changes to the bylaws, by resolution of our Board of Directors and through the issuance of up to 9,090,909,090 new shares, it being established that the total number of preferred shares may not exceed 50.0% of the total number of outstanding shares. Any capital increase exceeding this limit requires shareholder approval.

Income from equity instruments for the year ended December 31, 2025 totaled R$86 million, an increase of R$2 million compared to the R$84 million for the year ended December 31, 2024, mainly due to lower dividend gains from an investment fund, Santander Fundo de Investimento Amazonas Multimercado Amazon.

Income from equity instruments for the year ended December 31, 2024 totaled R$84 million, an increase of R$61 million compared to the R$22 million for the year ended December 31, 2023, mainly due to lower dividend gains from an investment fund, Santander Fundo de Investimento Amazonas Multimercado Amazon.

Our capital management is based on conservative principles with continuous monitoring of the items that affect our level of solvency. We are required to comply with Brazilian capital adequacy regulations in accordance with the rules of the Central Bank of Brazil. In October 2013, the new capital deployment regulations and regulatory capital requirements of the Basel Committee on Banking Supervision (Basel III) came into force in Brazil. The minimum regulatory capital requirement is currently 11%. The Tier I requirement is 6.0%, divided into basic capital of at least 4.5%, consisting primarily of capital stock and profit reserves, including shares, ownership units, reserves and income earned, and additional capital consisting primarily of certain reserves, earned revenues and securities and hybrid instruments as capital authorized by the Central Bank of Brazil.

In accordance with the new rules on regulatory capital in Brazil, the amount of goodwill for the calculation of the capital base was deducted in accordance with the phase-in for the implementation of Basel III in Brazil, which was concluded on January 1, 2019, and is 100% thereafter.

For the base year of 2025, the Reference Equity requirement was 11.5%, including 8.0% of the Minimum Reference Equity, plus 2.5% of Capital Conservation Surcharge and 1.0% of Systemic Surcharge. The Tier I Reference Equity reaches 9.5% and the Minimum Principal Capital 8.0%.

For the base year of 2024, the Reference Equity requirement was 10.9%, including 8.0% of the Minimum Reference Equity, plus 2.5% of Capital Conservation Additional and 1.0% of Systemic Supplement. The Tier I Reference Equity reaches 9.5% and the Minimum Principal Capital 8.0%.

For the base year of 2023, the Reference Equity requirement was 11.5%, including 8.0% of the Minimum Reference Equity, plus 2.5% of the Capital Conservation Supplement and 1.0% of the Systemic Supplement. The Tier I Reference Equity reaches 9.5% and the Minimum Principal Capital 8.0%.

c.       ability to pay in relation to the financial commitments assumed

Our Executive Board understands that we have sufficiently adequate financial and equity conditions for the payment of our commitments assumed.

The management of our payment capacity is carried out dynamically through the implementation of limits and control models, approved and monitored by the Assets and Liabilities Committee (ALCO), which acts in accordance with the guidelines and procedures established by the Santander Group and the Central Bank. The control and management of the payment capacity is carried out through the analysis of cash flow positions, structural liquidity and simulations of potential losses of resources under stress scenarios. A funding plan is also prepared that takes into account the best structuring of funding sources to achieve the necessary diversification in terms of maturities, instruments and markets, in addition to the establishment of contingency plans. These controls, added to the maintenance of a minimum liquidity margin, guarantee sufficient resources to honor customer deposits and other obligations, grant loans and financing to customers, meet their own working capital needs for investment and face any risks related to liquidity crises.

We actively manage risks intrinsic to commercial banking, such as structural risks of interest rates, liquidity and exchange rates. Our financial management objective is to make net interest income from business activities more stable and recurrent while maintaining adequate levels of liquidity and solvency. Financial management also analyzes the structural interest rate risk derived from divergences between the maturity and review dates of assets and liabilities in each of the currencies we operate.

The following tables show the intervals between pricing dates of financial assets and liabilities with different maturity dates, on December 31, 2025, 2024 and 2023, respectively (liquidity position):

(1)       They include obligations that may be enforceable in advance, such as: demand and time deposits, repo operations with customers, LCI and LCA.

The following table shows the financial assets and liabilities by domestic and foreign currency, as of December 31, 2025, 2024 and 2023 (currency position):

d.       sources of financing for working capital and investments in non-current assets used

The following table shows the composition of the withdrawals on the dates indicated:

(i)       Deposits

·                 Customer Deposits: Our balance of customer deposits was R$593.3 billion as of December 31, 2025, R$605.1 billion as of December 31, 2024 and R$583.2 billion as of December 31, 2023, representing 63.9%, 65.3% and 68.5% of our total funding, respectively.

·                 Current Accounts: Our current account balance was R$31.9 billion on December 31, 2025, R$41.3 billion on December 31, 2024 and R$36.6 billion on December 31, 2023, representing 4.3%, 5.4% and 5.2% of total deposits, respectively.

·                 Savings Accounts: Our savings account balance was R$53.2 billion on December 31, 2025, R$57.4 billion on December 31, 2024, and R$58.1 billion on December 31, 2023, representing 7.2%, 7.5%, and 8.3% of total deposits, respectively.

·                 Customer Time Deposits: Our balance of customer time deposits was R$431.7 billion on December 31, 2025, R$425.3 billion on December 31, 2024 and R$390.5 billion on December 31, 2023, representing 58.3%, 55.7% and 55.6% of total deposits, respectively.

·                 Repurchase Agreements: We maintain a portfolio of Brazilian public and private sector debt instruments used to obtain overnight funds from other financial institutions or investment funds through the sale of such securities and simultaneously agreeing to repurchase them. Due to the short-term (overnight) nature of this source of financing, such transactions are volatile and generally composed of Brazilian public securities and repurchase agreements linked to debentures. Securities sold in repo operations decreased to R$76.6 billion on December 31, 2025, R$81.1 billion on December 31, 2024 and R$98 billion on December 31, 2023, representing 10.3%, 10.6% and 14.0% of total deposits, respectively.

(ii)       Central Bank and Credit Institutions Deposits

Our balance of deposits with the Central Bank of Brazil and credit institutions was R$146.9 billion on December 31, 2025, R$158.6 billion on December 31, 2024 and R$118.5 billion on December 31, 2023, representing 19.8%, 20.8% and 16.9% of total deposits, respectively.

Our deposit balance mainly includes domestic loans and on-lending loans:

·                 Loan obligations. We have relationships with banks around the world, providing lines of credit linked to foreign currencies (either to the dollar or to a basket of foreign currencies). We apply the proceeds of these transactions primarily to U.S. dollar-linked lending operations and, in particular, to trade finance operations.

·                 National Transfers. Loans from public institutions, mainly BNDES and FINAME, for which we act as a financial agent. Financing from these sources in Brazil represents a method of providing long-term loans with attractive average interest rates for certain sectors of the economy. The loans from these funds are allocated by BNDES, through banks, to specific sectors focused on economic development. This type of loan is known as "on-lending". Because the funds transferred are usually matched and/or funded by loans from a federal government agency, we do not assume risk of mismatch terms or interest rates, nor do we charge interest at a fixed margin on the cost of the funds. However, we retain the borrower's business credit risk and therefore have discretion in the loan decision and application of credit criteria. This type of financing is not affected by the requirement for compulsory deposit. Payout is usually guaranteed, although it is not required by the terms of the payout.

(iii)       Other Means of Funding

(iii.1)       Debt Securities

Our balance of marketable debt securities was R$159.9 billion as of December 31, 2025, R$139.7 billion as of December 31, 2024 and R$130.4 billion as of December 31, 2023, representing 17.2%, 15.1% and 15.3% of our total financing, respectively.

Agribusiness Letters of Credit, which are freely negotiable credit notes and represent an unconditional promise of payment in cash, are issued exclusively by financial institutions and related to credit rights arising from transactions carried out between rural producers and their cooperatives and agents in the agribusiness production chain and foreign exchange acceptances, reached R$ 38.7 billion on December 31, 2025, R$32.4 billion on December 31, 2024 and R$36.4 billion on December 31, 2023.

Financial Bills are a financing alternative available to banks that may be characterized as senior or eligible to compose the reference equity, under the terms of CMN Resolution No. 5,007, of March 24, 2022, their minimum term must be 24 months and must be issued for a minimum amount of BRL 300,000 for subordinated transactions and BRL 50,000 for senior transactions. Our balance of treasury bills totaled R$38.2 billion on December 31, 2025, an increase of 56.0% compared to R$24.5 billion on December 31, 2024.

Real Estate Letters of Credit increased by 3.2%, from R$62.9 billion on December 31, 2024 to R$64.9 billion on December 31, 2025.

We carry out securities issuances, including under our Global Medium-Term Bills Program. Our balance of securities was R$18.1 billion on December 31, 2025 and R$19.9 billion on December 31, 2024. This variation occurred mainly due to favorable market conditions.

(iv)       Eligible Instruments to be composed of Tier I and Tier II

On November 5, 2018, our board of directors approved the issuance, through our Cayman Islands agency, of debt instruments to form part of our benchmark Tier 1 and Tier 2 equity in the total amount of $2.5 billion, pursuant to an offering made to non-U.S. persons pursuant to Regulation S of the U.S. Securities Act of 1993, as amended, or the "Notes Offer". Our Notes Offering was structured as follows: (i) US$1.25 billion indexed at 7.25% per annum with no maturity (perpetual) and interest paid semiannually; and (ii) US$ 1.25 billion indexed at 6.125% per year maturing in November 2028 and interest paid semiannually. These issuances were made through our branch office in the Cayman Islands and, as a result, do not generate income tax liability at source. In addition, our board of directors has also approved the redemption of debt instruments issued to be part of our regulatory Tier 1 and Tier 2 capital, as set forth in the board resolution of January 14, 2014. The proceeds from the Note Offering were used to fund this redemption. On December 18, 2018, the Central Bank of Brazil authorized the transactions contemplated in the Offering of Notes and the redemption, which were completed on January 29, 2019.

In November and December 2021, Santander Brasil issued Financial Bills with a subordination clause, to be used to compose our Level 2 reference equity, in the total amount of R$5.5 billion. The Financial Bills have a ten-year term and redemption and repurchase options in accordance with the applicable regulations. The Financial Bills had an estimated impact of 92 basis points on our Tier 2 benchmark equity.

In October and November 2023, Santander Brasil exercised its option to repurchase the Level 2 debt instruments issued in 2018 in the amount of US$1.25 billion. In its place to compose our Tier 2 regulatory capital, Santander Brasil issued financial bills with a subordination clause in the total amount of R$6.0 billion. These new financial bills have a term of 10 years and redemption and repurchase options in accordance with applicable regulations.

On November 8, 2024, Santander Brasil also exercised its option to repurchase certain Tier 1 debt instruments issued in 2018 in the amount of US$1.25 billion. In its place to compose the Level 1 regulatory capital, Santander Brasil issued subordinated financial bills in the total amount of R$7.6 billion. These new financial bills are perpetual with a repurchase clause exercisable from five years after their issuance, in accordance with the applicable regulations.

In addition, on December 4, 2025, Santander Brasil issued financial securities with a Level 2 subordination clause in the total amount of R$2.4 billion. These new financial securities have a 10-year term, semi-annual coupon payments, as well as redemption and repurchase options, in accordance with applicable regulations.

As of Dec. 31, 2025, the outstanding balance of Tier 1 and Tier 2 debt instruments was R$28.1 billion, compared to R$23.1 billion as of Dec. 31, 2024.

(v)       Subordinated Debt

As of December 31, 2025, we had no subordinated debt.

e.       Sources of funding for working capital and investments in non-current assets that you intend to use to cover liquidity shortfalls

Due to our stable and diversified sources of fundraising, which include a large deposit base of its clients as detailed in item 10.1.d above, we have historically had no liquidity issues.

As part of our liquidity risk management, we have a formal plan with measures to be taken in scenarios of systemic liquidity crisis and/or arising from any risk to our corporate image. This liquidity contingency plan contains attention parameters, as well as preventive measures and actions to be activated in times of liquidity deficiency, if reserves fall below certain parameters.

As sources of financing for working capital and for investments in non-current assets used to cover liquidity deficiencies, the following resources may be used: (i) borrowing of deposits; (ii) bond issuances; (iii) repo operations with public/private securities; (iv) transfer pricing review; (v) establishment of more restrictive credit policies; and (vi) release of guarantee margin at B3 S.A. – Brasil Bolsa, Balcão.

f.       levels of indebtedness and the characteristics of such debts, further describing:

(i)       Relevant loan and financing agreements

There are no loan agreements or other debt instruments that our management deems to be material to us, with the exception of the debt securities issued by us described in Section 18 of the Reference Form.

(ii)       Other long-term relationships with financial institutions

Our main sources of funds are local deposits in the demand, savings and time modalities, in line with other Brazilian banks, as well as funding in the open market, namely, bonds issued by the self-issued and Federal Government bonds with a repurchase commitment ("repo operations").

We also have deposits in credit institutions related to export and import financing lines raised from banks abroad and intended for application in commercial foreign exchange operations related to export and import financing. We are also a party to long-term obligations via on-lending

(ii.1)       Eurobonds and Securitization Notes - MT100

Foreign issuances of securities denominated in foreign currency include securities and other securities (Eurobonds and Structured Notes). The following table demonstrates the detailed composition of Eurobonds:

(1)       Include SOFR fee.

(ii.2)       Subordinated debts

We use subordinated debt instruments in our funding structure, represented by securities issued in accordance with the rules of the Central Bank, which are used as Reference Equity - Level 2, to calculate the operational limits, including Subordinated CDBs, certificates of deposit issued by us in the local market, in various issues, at interest rates updated by the CDI or the IPCA.

(iii)       Degree of subordination between debts

In the event of our judicial or extrajudicial liquidation, there is an order of preference as to the payment of the various creditors of the estate provided for by law, which must be respected under the terms of the Brazilian legislation in force at the time. Specifically with regard to the financial debts that make up our indebtedness, the following order of payment must be observed: debts secured by collateral, unsecured debts and subordinated debts. It is worth mentioning that, in relation to debts with real guarantee, creditors prefer the others up to the limit of the asset given as collateral and, as much as there is left, they will have their credits included in the payment order of the unsecured creditors. Among unsecured creditors there is no degree of subordination, just as there is no degree of subordination among the various subordinated creditors.

(iv)       any restrictions imposed on the Company, in particular, in relation to indebtedness limits and contracting of new debts, the distribution of dividends, the sale of assets, the issuance of new securities and the sale of corporate control, as well as whether the Company has been complying with these restrictions

Regarding securities issued abroad, whose descriptions of the operations and programs are described in Item 12.9 of the Reference Form ("Securitization Program" and "Medium Term Notes – MTN"), the main restrictions imposed on the issuer, existing in financing agreements, are also described in the same item.

g.           Limits of financing contracted and percentages already used

The information requested in this item is not applicable to financial institutions. We are subject, however, to the parameters determined by the monetary authorities, in line with the Basel principles.

h.           Significant changes in items on the income and cash flow statements

The following are the main changes in balance sheet accounts for the years 2025, 2024 and 2023.

Our total assets reached, on December 31, 2025, R$1,270,029 million, an increase of 2.5% compared to 2024, whose total assets reached R$1,238,797 million, 11% higher than the year ended December 31, 2023, in the amount of R$1,115,653 million.

The portfolio of loans and advances to gross customers, without guarantees and guarantees, totaled R$602,040 on December 31, 2025, an increase of 0.4% compared to R$599,688 on December 31, 2024, an increase of 8.7% compared to R$551,536 million on December 31, 2023.

Consolidated shareholders' equity totaled R$125,174 million on December 31, 2025, R$119,492 million on December 31, 2024 and R$114,453 million on December 31, 2023, an increase of 4.8% on December 31, 2025 compared to 2024 and an increase of 4.4% on December 31, 2024 compared to 2023. The variation in shareholders' equity in the year is mainly due to the growth in revenues, Net Income for the period in the amount of R$12,965 million and reduced by the highlight of Dividends and Interest on Equity in the amount of R$7,620 million.

2.2. The Officers must comment:

a. results of the Company's operations:

Results of Operations for the Years Ended December 31, 2025, 2024 and 2023

The following table provides an overview of the key aspects of our operating results for the years ended December 31, 2025, 2024 and 2023:

Results of Operations

The following table presents our consolidated operating results for the years ended December 31, 2025, 2024 and 2023:

Consolidated profit for the year

Our consolidated net income for the year ended December 31, 2025 was R$12,965 million, a reduction of R$449 million, or 3.3%, compared to our consolidated net income of R$13,414 million for the year ended December 31, 2024, mainly due to (i) a reduction in other non-financial gains of R$1,700 million, or 88.9%, impacted by the joint venture transaction with the Pluxee Group in 2024; (ii) an increase in impairment losses of R$1,056 million, or 3.7%, due to the systematic increase in household indebtedness and systemic delinquency driven by a higher interest rate, and (iii) an increase in provisions of R$384 million, or 8.3%, driven by higher labor contingencies.

Our consolidated net income for the year ended December 31, 2024 was R$13,414 million, an increase of R$3,915 million, or 41.2%, compared to our consolidated net income of R$9,499 million for the year ended December 31, 2023, primarily due to (i) an increase in net interest income of R$9,795 million, or 20.9%, to R$56,679 million in the year ended December 31, 2024, compared to R$46,884 million in the year ended December 31, 2023, driven by the increase in net interest income on credit operations and better performance in market operations, despite the volatile macroeconomic environment; (ii) an increase in net fee revenue of R$1,565 million, or 10.0%, to R$17,205 million in the year ended December 31, 2024, from R$15,640 million in the year ended December 31, 2023, driven by better results in capitalization, insurance and cash management.

Net interest income

Net interest income for the year ended December 31, 2025 was R$57,634 million, an increase of 1.7% or R$956 million compared to R$56,679 million in the year ended December 31, 2024. This increase was mainly due to increased revenue from: (i) deposit products, especially time deposits and demand deposits in our individual and SME businesses, and (ii) credit products, especially in our SME and consumer finance businesses, in both cases driven by growth in the volume of products such as working capital, vehicle financing and mortgages. This was partially offset by negative sensitivity to rising interest rates.

The average total profitable assets in 2025 was R$1,110,376 billion, an increase of 4.4% compared to R$1,063,823 billion in 2024. The main driver of this change was the increase in the average amount of loans and advances to customers and loans and receivables from credit institutions.

Net interest margin (net financial income divided by assets with average yield) in 2025 was 5.2% and 5.3% in 2024, impacted by a higher share of new business in secured products and the focus on portfolios and segments with lower credit risk, reflecting our strategy of seeking to increase net profitability.

The average total interest-bearing liabilities in 2025 was R$888,931 million, an increase of 4.7% compared to R$849,299 million in 2024.

Finally, the net interest spread (the difference between interest on yieldable assets and the average cost of interest-bearing liabilities) was 2.7% in 2025, mainly due to a shift in our portfolio mix to clients with a better risk profile.

Net interest income for the year ended December 31, 2024 was R$56,679 million, an increase of 20.9% or R$9,795 million compared to R$46,884 million in the year ended December 31, 2023. This increase was mainly due to the increase in revenue from: (i) credit products, especially in our individual credit and consumer finance businesses, driven by the growth in the volume of products such as credit cards, payroll loans, vehicle financing and real estate financing, and (ii) better performance in market operations. This increase was partially offset by lower interest spreads, attributable to a change in the composition of our portfolio, with a greater focus on clients with a better risk profile and on secured products.

The average total profitable assets in 2024 was R$1,063,823 million, an increase of 10.8% compared to R$959,769 million in 2023. The main driver of this change was the increase in the average amount of loans and advances to customers and financial assets measured at fair value (i.e., debt and equity instruments).

Income from equity instruments

Revenue from equity instruments for the year ended December 31, 2025 totaled R$86 million, an increase of R$2 million compared to R$84 million for the year ended December 31, 2024.

Revenue from equity instruments for the year ended December 31, 2024 totaled R$84 million, an increase of R$61 million compared to R$22 million for the year ended December 31, 2023.

Equity Result

The result of the companies accounted for by the equity method for the year ended December 31, 2025 was R$ 458 million, an increase of R$ 145 million compared to the R$ 313 million for the year ended December 31, 2024, mainly due to an increase of R$ 58 million in Pluxee's result, R$ 42 million in Banco RCI's results and R$ 28 million in Webmotors' results.

The result of the companies accounted for by the equity method for the year ended December 31, 2024 was R$313 million, an increase of R$74 million compared to the R$239 million for the year ended December 31, 2023, mainly due to an increase of R$53 million in the result of Pluxee (which we acquired in 2024) and R$29 million in the result of Banco RCI.

Net fee and commission income

Net revenue from fees and commissions for the year ended December 31, 2025 was R$17,495 million, an increase of R$290 million, or 1.7%, compared to R$17,205 million in the year ended December 31, 2024. This increase was primarily driven by: (i) insurance and capitalization, supported by improved loan performance, particularly in the consumer segment, and new product launches; (ii) credit and debit cards, reflecting the growth in transaction volume and customer spending; and (iii) asset management and pension funds, due to the higher volume of assets under management and pension funds.

Net credit and debit card fees and commissions totaled R$4,508 million in the year ended December 31, 2025, an increase of 2.1% compared to the year ended December 31, 2024. This was primarily due to growth in transaction volume and customer spending.

Net fees and commissions of asset managers and pension funds totaled R$2,271 million in the year ended December 31, 2025, an increase of 3.3% compared to the year ended December 31, 2024. This was mainly due to higher turnover.

Net insurance and capitalization rates and commissions totaled R$4,973 million in the year ended December 31, 2025, an increase of 4.9% compared to the year ended December 31, 2024. This was mainly due to improved loan performance and the launch of new products.

Net revenue from fees and commissions for the year ended December 31, 2024 was R$17,205 million, an increase of R$1,565 million, or 10.0%, compared to R$15,640 million for the year ended December 31, 2023. This increase was primarily attributable to: (i) credit and debit cards, primarily due to the increase in our customer base, number of transactions and customer spending, (ii) insurance and capitalization, reflecting improved performance in loans (especially in consumer), and (iii) asset management and pension funds.

Net credit and debit card fees and commissions totaled R$4,414 million in the year ended December 31, 2024, an increase of 24.2% compared to the year ended December 31, 2023.

Net fees and commissions of asset managers and pension funds totaled R$2,199 million in the year ended December 31, 2024, an increase of 10.5% compared to the year ended December 31, 2023.

Net insurance and capitalization rates and commissions totaled R$4,741 million in the year ended December 31, 2023.

The following table reflects the breakdown of net fee and commission income for the years ended December 31, 2025, 2024 and 2023:

Gains/losses on financial assets and liabilities (net) and exchange rate variations (net)

Gains on financial assets and liabilities (net) and exchange rate differences (net) for the year ended December 31, 2025 totaled R$131 million, an increase of R$2 million compared to the gain of R$129 million in the year ended December 31, 2024. This variation is mainly due to financial assets measured at fair value for profit or loss, a loss of R$641 million on December 31, 2024, compared to a gain of R$7,890 million on December 31, 2025.

Gains on financial assets and liabilities (net) and exchange rate differences (net) for the year ended December 31, 2024 totaled R$129 million, a decrease of R$3,666 million compared to the gain of R$3,795 million in the year ended December 31, 2023. This variation is mainly due to the lower gain on financial assets measured at fair value for profit or loss, of R$3,441 million on December 31, 2023, compared to R$746 million on December 31, 2024.

The following table presents our gains/losses on financial assets and liabilities (net) and foreign exchange differences (net) in the periods indicated.

(1) Gains/losses on financial assets and liabilities (net) and foreign exchange differences (net) excluding the effects of investment in hedging abroad are a non-GAAP measure.

Other Operating Profit/Expense

Other operating expenses in the year ended December 31, 2025 totaled R$808 million, an increase of R$156 million compared to expenses of R$652 million for the year ended December 31, 2024, mainly due to higher operating expenses related to the growth of commercial activity and the deposit portfolio.

Other operating expenses in the year ended December 31, 2024 totaled R$652 million, a reduction of R$64 million compared to expenses of R$716 million in the year ended December 31, 2023, mainly due to lower operating expenses.

Administrative Expenses

Administrative expenses for the year ended December 31, 2025 were R$20,938 million, an increase of R$522 million compared to expenses of R$20,417 million for the year ended December 31, 2024, mainly due to increased expenses with salaries and wages, related technologies and systems, per diems and travel expenses, as a result of the increase in inflation in the period and the growth of our business.

Administrative expenses for the year ended December 31, 2024 were R$20,417 million, an increase of R$854 million compared to expenses of R$19,563 million for the year ended December 31, 2023, mainly due to increased expenses with salaries and wages and related technologies and systems, per diem and travel expenses and other administrative expenses as a result of the increase in inflation in the period and the growth of our business.

Personnel expenses increased by R$101 million in the year ended December 31, 2025, mainly due to the increase in employee salaries and wages resulting from our collective bargaining with employees in 2024, which impacted the first eight months of 2025, and our 2025 collective bargaining agreement, which impacted the last four months of the year.

Personnel expenses increased by R$784 million in the year ended December 31, 2024, mainly due to the increase in employee salaries and wages resulting from our collective bargaining with employees in 2023, which impacted the first eight months of 2024, and our 2024 collective bargaining agreement, which impacted the last four months of the year.

The following table presents our personnel expenses for each of the periods indicated:

Other administrative expenses increased by R$240 million totaling R$9,239 million in the year ended December 31, 2025, compared to R$8,819 million in the year ended December 31, 2024, mainly due to higher technology and systems expenses, per diem and travel expenses, resulting from the increase in inflation in the period and the growth of our business.

Other administrative expenses increased by R$70 million to R$8,819 million in the year ended December 31, 2024, compared to R$8,749 million in the year ended December 31, 2023, mainly due to higher technology and systems expenses, per diem and travel expenses, resulting from the increase in inflation in the period and the growth of our business.

The following table presents our other administrative expenses for each of the periods indicated:

The efficiency ratio, calculated as total administrative expenses divided by total profit, decreased to 27.9% in the year ended December 31, 2025, compared to 27.7% in the year ended December 31, 2024. This 0.2% p.p. increase in the ratio is mainly due to the higher growth in our costs, which exceeded the growth in our margin.

The efficiency ratio, calculated as total administrative expenses divided by total profit, decreased to 27.7% in the year ended December 31, 2024, compared to 29.7% in the year ended December 31, 2023. This 2.0% p.p. reduction in the index is mainly due to higher net income growth (driven by net interest income and net fee revenue) and inflation-driven cost increases.

Depreciation and Amortization

Depreciation and amortization for the year ended December 31, 2025 was R$2,626 million, a reduction of R$104 million, or 3.9%, compared to R$2,731 million for the year ended December 31, 2024, mainly due to the impact on hardware due to the end of amortization and changes in the extension of the useful life of some items.

Depreciation and amortization for the year ended December 31, 2024 was R$2,731 million, a reduction of R$10 million, or 0.4%, compared to R$2,741 million for the year ended December 31, 2023, mainly due to the increase in expenses with amortization of software items, resulting from the investments made in this period.

Provisions (Net)

The provisions primarily include provisions for tax, civil, and especially labor claims. Provisions (net) totaled R$4,979 million in the year ended December 31, 2025, an increase of R$383 million, or 8.3%, compared to R$4,595 million in the year ended December 31, 2024, mainly due to the increase in labor contingencies.

The provisions primarily include provisions for tax, civil, and especially labor claims. Provisions (net) totaled R$4,595 million in the year ended December 31, 2024, an increase of R$171 million, or 3.9%, compared to R$4,424 million in the year ended December 31, 2023, mainly due to the increase in labor and civil contingencies.

Impairment Losses on Financial Assets (Liquid)

Impairment losses and financial assets (net) for the year ended December 31, 2025 were R$29,540 million, an increase of R$1,056 million compared to R$28,484 million for the year ended December 31, 2024. This increase reflects the continued growth of our loan portfolio – particularly in SMEs, auto finance and real estate – combined with a disciplined and proactive approach to risk management, including prudent strengthening of reserves among individuals, especially in the low-income segments, and within the corporate and SME segment, particularly smaller companies.

Impairment losses and financial assets (net) for the year ended December 31, 2024 were R$28,484 million, an increase of R$476 million compared to R$28,008 million for the year ended December 31, 2023, mainly due to the growth of our retail portfolio and the effects of challenging macroeconomic conditions on our SME portfolio.

Our exposure to credit risk increased by R$28.5 billion to R$778.9 billion as of December 31, 2025, compared to R$750.4 billion as of December 31, 2024. In addition, our impaired assets increased by R$6.7 billion, from R$42.2 billion on December 31, 2024 to R$48.9 billion on December 31, 2025.

Our exposure to credit risk increased by R$30.5 billion to R$750.4 billion as of December 31, 2024, compared to R$719.9 billion as of December 31, 2023. In addition, our impaired assets increased by R$2.4 billion, from R$39.9 billion on December 31, 2023 to R$42.2 billion on December 31, 2024.

The following table shows the ratio of our stranded assets to total credit risk exposure and our coverage ratio as of December 31, 2025, 2024 and 2023.

(1)        Credit risk exposure is a non-GAAP financial measure. Exposure to credit risk is the sum of the amortized cost amounts of loans and advances to customers (including impaired assets) in the amount of R$778,881 million as of December 31, 2025, guarantees in the amount of R$58,917 million as of December 31, 2025 and private securities (securities issued by non-governmental entities) in the amount of R$117,924 million as of December 31, 2025. We have included off-balance sheet information in this measure to better demonstrate our total managed credit risk.

(2) Impairment loss provisions as a percentage of the assets subject to impairment.

(3) As of December 31, 2025, 2024 and 2023, our total impairment losses from financial instruments included R$3,202 million, R$2,070 million and R$1,586 million, respectively, related to debt instruments.

Non-Recoverable Assets by Loan Type

The following table shows our non-recoverable assets by loan type as of December 31, 2025, 2024, and 2023.

Commercial and Industrial

Impaired assets in the commercial and industrial loan portfolio totaled R$17,291 million as of December 31, 2025, an increase of R$4,116 million, or 31.2%, compared to R$13,175 million as of December 31, 2024. This increase reflects the continued growth of the SME portfolio, combined with a more challenging lending environment — driven by elevated interest rates over an extended period — that primarily affects smaller companies, including large and small companies.

Impaired assets in the commercial and industrial loan portfolio totaled R$13,175 million as of December 31, 2024, a decrease of R$3,117 million, or 19.1%, compared to R$16,292 million as of December 31, 2023. This drop was mainly due to the restructuring of the indebtedness of a large customer in our wholesale segment.

Real Estate

Impaired assets in the real estate loan portfolio totaled R$1,809 million as of Dec. 31, 2025, an increase of R$73 million, or 4.2%, compared to R$1,736 million as of Dec. 31, 2024. This increase was mainly due to the growth of this portfolio.

Impaired assets in the real estate loan portfolio totaled R$1,736 million as of December 31, 2024, an increase of R$384 million, or 28.4%, compared to R$1,352 million as of December 31, 2023. This increase was mainly due to the growth of this portfolio and challenging macroeconomic conditions.

Installment loans to individuals

Impaired assets in the loan portfolio in installments to individuals totaled R$29,779 million as of December 31, 2025, an increase of R$2,495 million, or 9.1%, compared to R$27,284 million as of December 31, 2024. This increase reflects continued growth in the auto finance and real estate portfolios, combined with a more challenging credit environment affecting individuals — particularly in low-income segments.

Impaired assets in the loan portfolio with installments to individuals totaled R$27,284 million as of December 31, 2024, an increase of R$5,045 million, or 22.7%, compared to R$22,239 million as of December 31, 2023. This increase was mainly due to the high growth of this portfolio, changes in the methodology used to determine whether a loan is in default, and challenging macroeconomic conditions affecting certain products, such as rural.

Financial Lease

Impaired assets in the leasing loan portfolio totaled R$21 million as of December 31, 2025, a reduction of R$26 million compared to R$47 million as of December 31, 2024.

Impaired assets in the leasing finance loan portfolio totaled R$47 million as of December 31, 2024, an increase of R$43 million compared to R$4 million as of December 31, 2023. This increase in impaired assets was mainly concentrated in two specific customers.

Impairment Losses on Other Assets (Net)

Impairment losses on other assets (net) for the year ended December 31, 2025 totaled losses of R$397 million, an increase of R$144 million compared to R$252 million for the year ended December 31, 2024, mainly due to a plan to optimize physical presence that involved the closure of branches.

Impairment losses for other assets (net) in the year ended December 31, 2024 totaled losses of R$252 million, an increase of R$2 million compared to R$250 million for the year ended December 31, 2023.

Other non-financial gains/losses

Other non-financial gains totaled R$212 million in the year ended December 31, 2025, a reduction of R$1.7 billion compared to the R$1,912 billion recorded in the year ended December 31, 2024, mainly due to the extraordinary effect of the joint venture transaction with the Pluxee Group, which took place in 2024.

Other non-financial gains totaled R$1,912 million in the year ended December 31, 2024, an increase of R$869 million compared to R$1,044 million recorded in the year ended December 31, 2023, mainly due to the closing of the joint venture transaction with the Pluxee Group.

Operating Income before Taxation

Operating income before tax for the year ended December 31, 2025 was R$16,729 million, a reduction of R$2,461 million, or 12.8%, compared to R$19,190 million for the year ended December 31, 2024.

This reduction was mainly due to the 2024 joint venture transaction with the Pluxee Group, higher impairment losses on financial assets, reflecting a systematic increase in household indebtedness and delinquency levels, and increased provisions attributable to high labor contingencies.

The table below shows our pre-tax operating income and our pre-tax operating profit, excluding the effects of hedging for investments held abroad in the periods presented.

(1) Adjusted operating income is a non-GAAP measure.

Income Taxes

Income tax expenses include income tax, social contribution, PIS, and COFINS (which are social contributions due on certain net income from some expenses).

Total income tax was R$3,764 million for the year ended December 31, 2025, a reduction of R$2,013 million, or 34.8%, compared to R$5,776 million for the year ended December 31, 2024. This reduction in expenses was mainly attributed to the decrease in pre-tax operating profit to R$16,729 million in the year ended December 31, 2025, compared to R$19,190 million in the year ended December 31, 2024, mainly due to economic factors that directly impacted the increase in losses related to credit operations (IFRS 9). The lower profits resulted in a lower tax base, leading to a proportional reduction in income tax expense. Another event that explains the reduction in the income tax line is related to the increase in interest on equity to R$3,376 million in the year ended December 31, 2025, compared to R$2,589 million in the year ended December 31, 2024. In addition, the effects of specific events recognized directly in the tax line remained stable comparedto the previous year, with no additional relevant impacts on the variationin tax expenditure.

Total income tax was R$5,776 million in the year ended December 31, 2024, an increase of R$3,354 million, or 138.4%, compared to R$2,423 million in the year ended December 31, 2023. This increase in expenses was primarily attributable to: (i) an increase in pre-tax operating income to R$19,190 million in the year ended December 31, 2024 from R$11,922 million in the year ended December 31, 2023, primarily due to our operating performance throughout the year. The higher gains resulted in a larger tax base, leading to a commensurate increase in tax expenditures. In addition, the effects of specific events recognized directly in the tax line remained stable in relation to the previous year, with no additional relevant impacts on the variation in tax expenditure.

The following table shows our income tax and income tax excluding the effects of hedging for investments held abroad in the periods indicated.

* Income taxes, excluding the effects of hedging investment conducted abroad, is a non-GAAP measure.

Results of Operations by Segment for the Years Ended December 31, 2025, 2024 and 2023

The following tables show our operating results for the years ended December 31, 2025, 2024 and 2023, for each of our operating segments.

Commercial Banking

2025 and 2024

Operating income before taxes attributable to the Commercial Banking segment for the year ended December 31, 2025 was R$8,938 million, a reduction of R$3,523 million compared to R$12,461 million for the year ended December 31, 2024.

This variation is mainly due to:

• increase of R$2.7 billion in losses on financial assets and liabilities and exchange rate differences, representing an increase of 182.8% compared to the year ended December 31, 2024; e

• increase of R$0.4 billion in administrative expenses, representing an increase of 2.2% compared to the year ended December 31, 2024.

2024 and 2023

Operating income before taxes attributable to the Commercial Banking segment for the year ended December 31, 2024 was R$12,461 million, an increase of R$6,508 million compared to R$5,953 million for the year ended December 31, 2023.

This variation is mainly due to:

• increase of R$6.9 billion in net interest income, representing an increase of 15.5% compared to the year ended December 31, 2023; e

• increase of R$ 1.6 billion in net revenue from fees, representing an increase of 12.6% compared to the year ended December 31, 2023.

Global Wholesale Banking

N.M. = non-material.

2025 and 2024

Pretax operating income attributable to the Global Wholesale Banking segment for the year ended December 31, 2025 was R$7,791 million, an increase of 15.8%, or R$1,062 million compared to R$6,730 million for the year ended December 31, 2024, which was mainly due to (i) better performance in the treasury and market businesses and (ii) growth in the business's demand deposits banking.

2024 and 2023

Pretax operating income attributable to the Global Wholesale Banking segment for the year ended December 31, 2024 was R$6,729 million, an increase of 12.7%, or R$761 million from R$5,969 million for the year ended December 31, 2023, primarily due to (i) a decrease in impairment losses on financial assets (net) driven primarily by a specific case of a large customer in our wholesale segment.

2.3. The Officers must comment:

a.           Significant changes in accounting practices that have resulted in significant effects on the information provided for in fields 2.1 and 2.2.

• Amendment to IAS 21 - Effects of exchange rate changes and translation of Financial Statements: In cases where a currency is not convertible, it may be difficult to determine an appropriate exchange rate. Although uncommon, non-convertibility can occur when a government imposes foreign exchange controls that prohibit foreign exchange or restrict the volume of foreign currency transactions. The amendment to IAS 21 provides guidance on how entities should assess whether a currency is easily convertible and how to determine a spot exchange rate for currencies with limited convertibility, as well as requiring the disclosure of information that enables users of the Financial Statements to understand the impacts of a non-convertible currency. These changes take effect from January 1, 2025. Santander does not foresee any significant impact.

• Adoption of IFRS 9 for Hedge Accounting: During fiscal 2025, Santander began to apply the requirements set forth by IFRS 9 for hedge relationships. The main impacts of this change in the accounting of hedge relationships stem fundamentally from: the separation of the time value of the options, when the hedged risk is intrinsically mandatory; the separation of the forward element from the exchange forward contracts, for all types of hedging; and the separation of the exchange basis differential of an exchange derivative, for each hedge ratio. The application of these options to the hedges designated before December 31, 2025 did not have a material impact on Santander's consolidated financial statements.

• Global Minimum Tax – Pillar 2: The Pillar 2 rules of the Global Minimum Tax Model Rules, approved in 2021 by the Organisation for Economic Co-operation and Development (OECD), stipulate that multinational groups with revenues in excess of €750 million are subject to a minimum tax rate of 15% on adjusted accounting income, calculated on a jurisdiction-based basis. The OECD supplemented these rules by approving administrative guidelines and transitional tax exemptions applicable to fiscal years 2024 to 2026. In January 2026, the application of the transitional tax exemptions was extended for another year, and new permanent tax exemptions were approved with the aim of simplifying the application of the Model Rules and implementing the "parallel agreement" reached in June 2025 under the G7, which will be applicable from 2026 to multinational groups whose final parent company is located in the United States.

In Brazil, Law No. 15,079, of December 27, 2024, introduced Pillar 2 in accordance with the Global Base Erosion Rules (Global Anti-Base Erosion Rules), through the institution of the Additional Social Contribution on Net Income (CSLL), and began to be regulated by acts of the Special Secretariat of the Federal Revenue of Brazil, linked to the Ministry of Finance, to qualify as a Qualified Minimum Complementation Tax (QDMTT). Pillar 2 rules came into force in Brazil in 2025 and must be calculated based on the adjusted taxes and adjusted profits of all constituent entities of the same multinational group in Brazil.

The simplified rules (security rules) imply that the additional CSLL is not due as long as any of the following conditions are met: (i) the effective rate calculated based on the information in the Country-by-Country Report exceeds 16% in 2025 and 17% in 2026; (ii) the presence of the multinational group in a jurisdiction is not material when revenue is less than €10 million and pre-tax profit is less than €1 million; or (iii) the pre-tax income is less than the sum of property, plant and equipment and personnel expenses, adjusted by a certain percentage that varies annually.

The assessment of the possible exposure to the Additional Social Contribution on Net Income (CSLL) is based on the most recent income tax returns, the country-by-country report and the financial statements of the Group's constituent entities in Brazil. According to the assessment, the effective CSLL rates in Brazil are higher than 15%, so there is no possible exposure.

The amendments aim to specify the requirements for the classification of liabilities as current or non-current. The amendments clarify the meaning of the right to postpone the assessment; whereas the right to deferral should exist at the end of the carry-over period; whereas the ranking is not affected by the likelihood that the entity will exercise its right to deferral; and that only if a derivative embedded in a convertible liability is itself an equity instrument, the terms of the liability will not affect its classification. The amendments to IAS 1 entered into force on 1 January 2024 and had no material impact.

• Amendment to IAS 7 – Statement of Cash Flows and IFRS 7 – Financial Instruments: Disclosure: requires entities to provide additional disclosures about their supplier financing arrangements. The IASB issued these new requirements to provide users of financial statements with information that enables them to assess how supplier financing arrangements affect an entity's obligations and cash flows, and to understand the effect of supplier financing arrangements on an entity's exposure to liquidity risk and how the entity could be affected if the arrangements were no longer available to it. The changes to IAS 7 and IFRS 7 were effective as of January 1, 2024 and did not have relevant impacts.

• Amendment to IFRS 16 – Leases: clarifies the requirements that a seller-tenant uses in measuring lease liability arising from a sale and leaseback transaction, in order to ensure that the seller-tenant does not recognise any amount of gain or loss that relates to the right of use that it holds. The amendments to IFRS 16 were effective as of January 1, 2024 and did not have material impacts.

b.           Modified opinions and emphases present in the auditor's report

In the years ended December 31, 2025 and 2024 and 2023, there were no reservations and emphases present in the auditor's opinion.

2.4. The officers must comment on the material effects that the events below have caused or are expected to cause in the Company's financial statements and results:

a.           Introduction or sale of an operating segment

No introduction or sale of the operating segment was carried out in the last 3 fiscal years.

b.        incorporation, acquisition or sale of equity interest

On December 31, 2025, Toro Asset Management S.A. ("Toro Asset") was fully incorporated and its equity was absorbed by its direct parent, Santander Investimentos Sociedade Prestadora de Serviços de Ativos Virtuais S.A. ("Santander Investimentos"), in accordance with the conditions set forth in the Protocol and Justification of the transaction. The implementation of the full merger of Toro Asset did not imply an increase in the capital stock of Santander Investimentos, since all the shares issued by Toro Asset were held by Santander Investimentos and, therefore, already reflected in an investment account by equivalence.

On November 28, 2025, the partial spin-off of Return Capital Gestão de Ativos e Participações S.A. ("Return") was approved, with the incorporation of the spun-off portion by Banco Santander (Brasil) S.A.. The operation aims to simplify the corporate structure, unify accounting processes and reduce operating costs. The implementation of the merger of the spun-off portion of Return did not imply an increase in the capital stock of Santander Brasil, since all the shares issued by Return are held by Santander and, therefore, already reflected in the investment account by equivalence, on the other hand the capital stock of Return was reduced in the amount of R$ 8,460,000,000.00 which corresponds to the spun-off portion.

On November 28, 2025, the merger of Santander Leasing S.A. Arrendamento Mercantil ("Santander Leasing") by Banco Santander (Brasil) S.A. was approved. The operation aims to simplify the corporate structure, unify accounting processes and reduce operating costs, in accordance with the conditions established in the Protocol and Justification of the operation. The completion of the full merger of Santander Leasing did not imply an increase in the capital stock of Santander Brasil, since all the shares issued by Santander Leasing were held by Santander Brasil and, therefore, already reflected in an investment account by equivalence. The merger will only take effect after approval by the Central Bank of Brazil.

On March 20, 2025, Banco Santander (Brasil) S.A. and other shareholders signed certain documents establishing the terms and conditions of the purchase and sale of shares representing the entire total and voting capital stock of Galgo Sistemas de Informações S.A. to RTM – Rede de Telecomunicações para o Mercado Ltda. ("Transaction"). On May 7, 2025, with the conclusion of the Transaction, Banco Santander (Brasil) S.A. ceased to hold an equity interest in Galgo Sistemas de Informações S.A.

On February 24, 2025, Santander Holding Imobiliária S.A. ("SHI") and Banco Santander (Brasil) S.A. signed certain documents establishing the terms and conditions of purchase and sale of the quotas representing the entire capital stock of Summer Empreendimentos Ltda. com RFM-E Ltda. ("Transaction"). On September 29, 2025, with the conclusion of the Transaction, Banco Santander (Brasil) S.A. and SHI ceased to hold equity interest in Summer Empreendimentos Ltda.

On September 30, 2024, Return Capital S.A. ("Return Capital") was fully merged into Return Capital Gestão de Ativos e Participações S.A. (new name of Gira, Gestão Integrada de Receivables do Agronegócio S.A.) ("Return Participations"). The merger resulted in an increase in the capital stock of Return Participações, in the amount of R$ 8,540,942,366.72 (eight billion, five hundred and forty million, nine hundred and forty-two thousand, three hundred and sixty-six reais and seventy-two cents), through the issuance of 439,224,359 (four hundred and thirty-nine million, two hundred and twenty-four thousand, three hundred and fifty-nine) new common shares. As a result of the merger, Return Capital was extinguished, by operation of law, which was succeeded by Return Participações in all its rights and obligations.

On June 30, 2024, Mobills Labs Soluções em Tecnologia Ltda. ("Mobills Labs") was fully incorporated and its equity was absorbed by its direct parent, Toro Investimentos S.A. ("Toro Investimentos"), in accordance with the conditions set forth in the Protocol and Justification of the transaction. The implementation of the full merger of Mobills Labs did not imply an increase in the capital stock of Toro Investimentos, since all the shares issued by Mobills Labs were held by Toro Investimentos and, therefore, already reflected in an investment account by equivalence.

On June 28, 2024, Apê11 Tecnologia e Negócios Imobiliários S.A. ("Apê11") was fully incorporated, with its equity absorbed by its direct parent company, Santander Holding Imobiliária S.A. ("SHI"), in accordance with the conditions established in the Protocol and Justification of the transaction. The implementation of the full merger of Apê11 did not imply an increase in SHI's share capital, since all the shares issued by Apê11 were held by SHI and, therefore, were already reflected in its investment account by equivalence.

On December 22, 2023, Santander Holding Imobiliária S.A. ("SHI"), a wholly-owned subsidiary of Banco Santander (Brasil) S.A., entered into a Share Purchase and Sale Agreement with the shareholders of Apê11 Tecnologia e Negócios Imobiliários S.A. ("Apê11") to acquire the remaining 10% of the capital stock of Apê11 ("Transaction"). As a result of the Transaction, SHI now holds 100% of Apê11's share capital.

On June 27, 2024, following the conclusion of the conditions precedent of the transaction announced on July 24, 2023, Banco Santander (Brasil) S.A. concluded the establishment of a partnership with Grupo Pluxee (formerly Sodexo).

The economic rationale of the transaction is essentially based on: (i) the synergies arising from the combination of the businesses of Pluxee Instituição de Pagamento Brasil S.A. (current name of "Ben Benefits and Services Instituição de Pagamentos S.A") with the Pluxee Group in Brazil and (ii) the company's ability to exploit Santander's customer base to offer its products and services (i.e. the capillarity of Santander's branch).

For the formation of the partnership, Banco Santander contributed the equivalent of R$ 2,044 million attributed: (i) to its investment in its benefits subsidiary, Pluxee Instituição de Pagamento Brasil S.A. (current name of "Ben Benefits and Services Instituição de Pagamentos S.A"); (ii) a portion of cash resources; (iii) the exclusivity contract for the exploitation of its customer base.

As a result of the transaction, Banco Santander and Grupo Pluxee now hold a 20% and 80% stake, respectively, in the capital stock of Pluxee Benefícios Brasil S.A. ("Pluxee"), the partner's investment vehicle.

On May 31, 2024, Mobills Corretora de Seguros Ltda. ("Mobills Corretora") was fully incorporated and its equity was absorbed by its direct parent, Toro Asset Management S.A. ("Toro Asset"), in accordance with the conditions set forth in the Protocol and Justification of the transaction. The implementation of the full merger of Mobills Corretora did not imply an increase in Toro Asset's share capital, since all the shares issued by Mobills Corretra were held by Toro Asset and, therefore, already reflected in an investment account by equivalence.

On May 17, 2024, Return Capital S.A. ("Return"), a wholly-owned subsidiary of Banco Santander (Brasil) S.A., entered into a new name of Gira, Gestão Integrada de Receivables do Agronegócio S.A. with the minority shareholders of Return Capital Gestão de Ativos e Participações S.A. ("Gira"), a certain Share Purchase and Sale Agreement to acquire the 20% of Gira's capital stock held by minority shareholders ("Transaction"). As a result of the Transaction, Banco Santander (Brasil) S.A. now holds, indirectly, 100% of Gira's share capital.

On March 12, 2024, Santander Corretora de Seguros, Investimentos e Serviços S.A. ("Santander Corretora") formalized, together with the shareholders of América Gestão Serviços em Energia S.A. ("América Energia"), a Share Purchase and Sale Agreement and Other Covenants with a view to acquiring 70% of the total and voting capital stock of América Energia ("Transaction"). The completion of the Transaction was subject to the fulfillment of certain conditions precedent customary in similar transactions, including obtaining the relevant regulatory clearances. On July 4, 2024, with the conclusion of the Transaction, Santander Corretora now holds 70% of América Energia's shareholding. On January 29, 2026, América Energia changed its corporate name to Vora Gestão e Consultoria de Energia e Gás S.A.

On March 6, 2024, Santander Corretora de Seguros, Investimentos e Serviços S.A. concluded, in compliance with the applicable conditions precedent, the transaction for the acquisition and investment in Fit Economia de Energia S.A. ("Company"), so that it now holds 65% of the Company's capital stock ("Transaction").

On January 3, 2024, after the fulfillment of the conditions precedent, Banco Santander concluded the transaction for the acquisition of all the shares of Toro Participações, so that it now holds, indirectly, the ownership of 100% of the capital stock of Toro Corretora de Títulos e Valores Mobiliários S.A. and Toro Investimentos S.A. On February 29, 2024, the merger of Toro Participações S.A. by Toro Corretora de Títulos e Valores Mobiliários S.A. was approved.

c.        Unusual events or operations

Nothing to report.

2.5. If the issuer has disclosed, during the last fiscal year, or wishes to disclose in this form non-accounting measurements, such as EBITDA (earnings before interest, taxes, depreciation and amortization) or EBITR (earnings before interest and income tax), the issuer must:

a. Inform the value of non-accounting measurements

b. make reconciliations between the amounts disclosed and the amounts of the audited financial statements

c. explain why you believe that such measurement is more appropriate for the correct understanding of your financial condition and the result of your operations

The Efficiency Ratio, disregarding the effects of hedging investments abroad, aims to adequately transmit the company's performance.

2.6. Identify and comment on any event subsequent to the last financial statements at the end of the fiscal year that substantially alters them:

Subsequent Events

The Board of Directors of Banco Santander, at a meeting held on January 9, 2026, approved the proposal of Banco Santander's Executive Board, subject to ratification by the Annual General Meeting, for the distribution of Interest on Shareholders' Equity in the amount of R$ 2,000,000,000.00 (two billion reais), based on the balance of the Company's Dividend Equalization Reserve. Shareholders registered with the Bank until the end of January 20, 2026 (inclusive) were entitled to Interest on Equity. Therefore, as of January 21, 2026 (inclusive), the Bank's shares began to be traded "Ex-Interest on Equity". Interest on equity was paid as of February 5, 2026. This interest was fully imputed to the minimum mandatory dividends distributed by the Bank for fiscal year 2026, without any remuneration by monetary adjustment.

2.7. Allocation of results

As established in the Company's Bylaws, the net income calculated, after deductions and legal provisions, will be allocated as follows:

I             - 5% (five percent) for the constitution of the legal reserve, until it reaches 20% (twenty percent) of the capital stock;

II           - 25% (twenty-five percent) of the net income, adjusted pursuant to article 202 of Law No. 6,404/76, shall be mandatorily distributed as a mandatory dividend to all shareholders; e

III        - the balance, if any, may, upon proposal of the Executive Board and approved by the Board of Directors: (a) be allocated to the formation of a Reserve for Equalization of Dividends, which will be limited to fifty percent (50%) of the value of the capital stock and will have the purpose of guaranteeing resources for the payment of dividends, including in the form of interest on equity, or its anticipations, in order to maintain the flow of remuneration to shareholders, and, once this limit is reached, it will be up to the Shareholders' Meeting to resolve on the balance, proceeding with its distribution to shareholders or increasing the capital stock; and/or (b) be retained, in order to meet the capital investment needs stipulated in the Company's General Budget, submitted by the management to the approval of the Shareholders' Meeting and reviewed annually by the Shareholders' Meeting, when it lasts more than one fiscal year.

Profits not earmarked under the above terms shall be distributed as dividends.

a.    Rules on Retention of Profits

Pursuant to the corporate law, including Law 6,404, of December 15, 1976, as amended ("Brazilian Corporation Law"), and the Company's Bylaws, the net income for the year may be retained in order to meet the capital application needs stipulated in the Company's general budget, as submitted by management for approval at the shareholders' meeting and reviewed annually, if applicable.

There was no retention of profits in the last three fiscal years, and the Company paid dividends higher than the mandatory dividend.

b.    Rules on dividend distribution

The Company's Bylaws provide that an amount of not less than 25% of net income, less allocations to legal and contingency reserves, shall be available for distribution in the form of dividends or interest on equity in any fiscal year. This amount represents the mandatory dividends. The calculation of net income and allocations to reserves, as well as the amounts available for distribution, are made based on the Company's individual financial statements prepared in accordance with the accounting practices adopted in Brazil and rules issued by the National Monetary Council ("CMN") and the Central Bank of Brazil ("Central Bank"), applicable to financial institutions authorized to operate by the Central Bank ("BRGAAP")").

The Company's Board of Directors may declare interim dividends or interest on equity based on the profits calculated in the Company's consolidated half-yearly financial statements. In addition, the Board of Directors may declare dividends or interest on equity based on consolidated financial statements for shorter periods, provided that the total dividends paid in each semester do not exceed the value of the capital reserves provided for under the terms of the corporate law. The Board of Directors may also declare interim dividends or interest on equity based on the retained earnings or profit reserves existing in the Company's last annual or half-yearly balance sheet.

Any payment of interim dividends or interest on equity by the Company may be offset against the amount of mandatory dividends related to the net income calculated in the fiscal year in which they are paid.

The amount distributed to shareholders as interest on equity, net of any withholding tax, may be included as part of the minimum mandatory dividends. In accordance with the applicable legislation, the Company is required to pay shareholders an amount sufficient to ensure that the net amount received as interest on equity, less the payment of applicable withholding income tax, plus the amount of the dividends declared, is equivalent to at least the amount of the mandatory dividend.

The corporate law allows, however, the Company's shareholders to suspend the distribution of dividends if the Company's Board of Directors informs the general meeting of shareholders that the distribution is incompatible considering the Company's financial situation. The Company's fiscal council, if in operation, must analyze any suspension of payment of the mandatory dividend. In addition, management must submit a report to the Brazilian Securities and Exchange Commission ("CVM") justifying the reasons for the suspension. The net income not distributed due to the suspension will be allocated to a separate reserve and, if not absorbed by subsequent losses, should be distributed as dividends as soon as the Company's financial situation allows such payment.

c.    Frequency of dividend distributions

The distribution of dividends and/or interest on equity is annual (at the annual shareholders' meeting), based on the results of the fiscal year, and the Board of Directors may also declare dividends to the profit account calculated in the semiannual, quarterly, bimonthly or monthly balance sheet or even declare interim dividends to the retained earnings account or profit reserves existing in the Company's last annual or semiannual balance sheet.

In 2023, the Company approved the highlight of interest on equity and/or dividends in January, April, July and October of that year:

·                  Interest on equity in the amount of R$1,700 million, highlighted on January 19, 2023;

·                  Interest on equity in the amount of R$1,500 million, highlighted on April 13, 2023;

·                  Interest on equity in the amount of R$1,500 million, highlighted on July 13, 2023;

·                  Interim Dividends in the amount of R$380 million, highlighted on October 10, 2023;

·                  Interest on equity in the amount of R$1,120 million, highlighted on October 10, 2023;

In 2024, the Company approved the highlight of interest on equity and/or dividends in January, April, July and October of that year:

·                  Interest on equity in the amount of R$1,500 million, highlighted on January 11, 2024;

·                  Interest on equity in the amount of R$1,500 million, highlighted on April 10, 2024;

·                  Interest on equity in the amount of R$1,500 million, highlighted on July 10, 2024;

·                  Interim Dividends in the amount of R$ 200 million, highlighted on October 10, 2024;

·                  Interest on equity in the amount of R$1,300 million, highlighted on October 10, 2024;

In 2025, the Company approved the highlight of interest on equity and/or dividends in January, April, July, October and December of that year:

·                  Interest on equity in the amount of R$1,500 million, highlighted on January 10, 2025;

·                  Interest on equity in the amount of R$1,500 million, highlighted on April 10, 2025;

·                  Interest on equity in the amount of R$2,000 million, highlighted on July 10, 2025;

·                  Interest on equity in the amount of R$2,000 million, highlighted on October 10, 2025; e

·                  Interest on equity in the amount of R$620 million, highlighted on December 22, 2025;

d.    Any restrictions on the distribution of dividends imposed by legislation or special regulations applicable to the issuer, as well as contracts, judicial, administrative or arbitration decisions

The Company observed the limitation on the distribution of results determined by CMN Resolution No. 4,885, of December 23, 2020, which establishes, for a fixed period, prohibitions on the remuneration of equity, the increase in the remuneration of managers, the repurchase of shares and the reduction of capital stock, to be observed by financial institutions and other institutions authorized to operate by the Central Bank of Brazil, considering the potential effects of the coronavirus pandemic (Covid-19) on the National Financial System.

e.    If the issuer has a formally approved policy for the allocation of results, inform the body responsible for approval, date of approval and, if the issuer discloses the policy, places on the world wide web where the document can be consulted

The Company has a dividend distribution policy, approved by the Board of Directors on September 18, 2009, which recommends to its shareholders the distribution of 50.0% of the annual adjusted net income as dividends and/or interest on equity. The future dividend policy and the amount of future dividends and/or interest on equity that the Company decides to recommend to shareholders for approval will depend on a number of factors, including, without limitation, the Company's cash flow, financial condition (including capital position), investment plans, prospects, legal requirements, economic environment and other factors that we deem relevant at the time.

2.8. The Officers must describe the material items not disclosed in the issuer's financial statements, indicating:

Officers must describe the material items not disclosed in the issuer's financial statements, indicating:

a. the assets and liabilities held by the issuer, directly or indirectly, that do not appear on its balance sheet, such as:

Not applicable, given that there are no assets of this nature off the balance sheet.

Not applicable, given that there are no assets of this nature off the balance sheet.

iii.          Unfinished Construction Contracts

Not applicable, given that there are no assets of this nature off the balance sheet.

iv.          contracts for future financing receipts

Not applicable, given that there are no assets of this nature off the balance sheet.

b. Other items not disclosed in the financial statements

We offer a series of guarantees so that our customers improve their credit position and allow them to be able to compete. As required, the "Maximum potential value of future payments" represents the notional amounts that could be lost if there were total default by the guaranted parties, without considering possible recoveries of guarantees maintained or provided, or recoveries on appeal.

There is no relationship between these amounts and the probable losses on these guarantees.

In fact, the "Maximum potential value of future payments" significantly exceeds the inherent losses.

The table below shows all guarantees as of December 31, 2025, 2024 and 2023.

The investment funds that are under our management and that are not recorded on our balance sheet are detailed in the table below:

Finally, we hold in our custody third-party debt securities and securities in the total amount of R$146,157 million in 2025, R$51,197 million in 2024 and R$80,175 million in 2023.

2.9. In relation to each of the items not disclosed in the financial statements indicated in item 2.8., the officers shall comment:

a. how such items alter or may change the revenues, expenses, operating results, financial expenses or other items of the Company's financial statements

There are no additional effects to be evidenced, other than those presented in Section 2.8 of this document.

B. Nature and purpose of the transaction

There are no additional effects to be evidenced, other than those presented in Section 2.8 of this document.

c. nature and amount of the obligations assumed and the rights generated in favor of the Company as a result of the transaction

There are no additional effects to be evidenced, other than those presented in Section 2.8 of this document.

2.10. The officers must indicate and comment on the main elements of the Company's business plan, specifically exploring the following topics:

a. investments, including:

I. Quantitative and qualitative description of ongoing and planned investments

Our main capital expenditures are comprised of investments in information technology. Our information technology platform focuses on its customers and supports our business model. In the 2025, 2024 and 2023 fiscal years, Santander Brasil's total investments in information technology were R$2,111 million, R$1,832 million and R$2,259 million, respectively.

In 2025, 2024 and 2023, we continued to improve our technology platforms by investing in our digital applications, especially through the implementation of new solutions in the areas of artificial intelligence (e.g., machine learning, and AI for operations, or AIOPs), microservices, blockchain technology, cybersecurity measures, facial recognition, and cloud-based technologies, among others. We believe that the application of these new technologies has improved our interaction with our customers and allowed us to offer credit, consortium, payroll loan, insurance, private banking, cards, payments, agribusiness and investment solutions to better meet the needs of our customers. We also continue to invest in our physical distribution network (branches, PABs and PAEs), including biometric identification for corporate customers, digital purchase and exchange payment, among other initiatives.

II. Sources of financing for investments

The sources of financing for the investments mentioned above are mainly the cash flow from operating activities. Ongoing investments consist primarily of investments in technology.

III. Ongoing relevant divestments and planned divestments

Please refer to the information available in item 2.4 - b, above

b. provided that it has already been disclosed, indicate the acquisition of plants, equipment, patents, or other assets that should materially influence the Company's production capacity.

Please refer to the information available in item 2.4 - b, above.

c. new products and services, indicating:

I. Description of ongoing research already published

Not applicable.

ii. total amounts spent by the Company on research for the development of new products or services

Not applicable.

iii. Projects in development already disclosed

Not applicable.

iv. total amounts spent by the Company on the development of new products or services

Not applicable, as the amounts spent on the development of new products or services are considered in item 2.10.a (i) above.

d. opportunities included in the Company's business plan related to ESG issues

Our sustainability story began more than 20 years ago. Throughout this period, we have improved our sustainability-related programs, business, and governance.

The main focus throughout this time has been the assessment and mitigation of social, environmental and climate risks in the granting of loans, assistance to businesses that support the transition of customers to a low-carbon economy and the construction of a more inclusive society through education, employability and entrepreneurship actions. To ensure proper governance of this process, we have internal policies and controls supported by our senior leadership.

Our sustainability efforts are carried out in accordance with our Social, Environmental, and Climate Responsibility Policy, or "PRSAC," which outlines social, environmental, and climate principles and guidelines for conducting business and engaging with the organization's stakeholders. The PRSAC aims to prevent negative impacts and maximize the positive impacts arising from our operations and financial activities. The PRSAC meets the requirements of CMN Resolution No. 4,945/2021 and SUSEP Resolution No. 666/2022.

We have expanded our offerings of internal training courses on sustainability topics to some of our affiliates. We monitor specific sustainability goals, which are used to evaluate the performance of executives and other employees and directly impact their variable compensation.

We have supported the Brazilian government's initiatives for the transition to a low-carbon economy, not only through our advocacy actions, but also through active and direct participation. An example is the "Ecoinvest Program": an auction organized by the National Treasury of Brazil with the objective of attracting foreign capital to finance low-carbon economy transition projects through a blended financing mechanism. In 2025, an Eco Invest auction took place – focused on the restoration of degraded pastures – and two new auctions were announced, targeting exchange rate mechanisms to attract private equity investments and projects in the bioeconomy, respectively. Santander has actively contributed to the dialogue with the National Treasury and received one of the largest allocations in the two auctions ever held, with a total commitment to mobilize R$ 7.15 billion for eligible projects.

Regarding the establishment of our decarbonization plans for the most carbon-intensive sectors, we have focused our efforts on the agricultural sector, given the importance of agricultural production in Brazil. To start this journey, in 2022, we sought the specialized support of WayCarbon, a Brazilian company recognized for its solutions aimed at decarbonizing the economy. Since then, we have been working together to develop science-based methodologies and metrics that allow us to estimate the sector's emissions and understand the linkages between production and decarbonization potential. In 2025, we participated in a study by FGV to develop decarbonization curves for soybeans, corn, and beef.

We also participate in the Banking for Impact on Climate in Agriculture (B4ICA) initiative, coordinated by the World Business Council for Sustainable Development in partnership with the United Nations Environment Programme Finance Initiative (UNEP FI), the Partnership for Carbon Accounting in the Financial Sector (PCAF) and the Environmental Defense Fund (EDF), together with other banks, contributing to the development of guidelines that help the sector in the transition to a low-carbon economy, continuously improving the measurement and accounting of emissions associated with agribusiness.

As part of our climate ambition, we manage the environmental impact of our own operations by measuring and disclosing scope 1, 2 and relevant scope 3 emissions from our buildings, offices and agencies, prioritizing reduction over offsetting. Over the past decade, our efficiency initiatives have significantly reduced scope 1 and 2 emissions, supported by multi-year plans that combine more efficient installations, better maintenance and operation, technology upgrades, and the purchase and self-production of renewable energy. We continue to offset residual scope 1 and 2 emissions that we have not been able to eliminate through selected carbon credits based on a rigorous due diligence process. Regarding scope 3, our focus is on the emissions in our portfolio, that is, financed emissions; within the Santander Group, we have decarbonization targets for the most carbon-intensive sectors.

Regarding sustainability frameworks, we continue to follow the guidelines of the Global Reporting Initiative (GRI), the Task Force on Climate-Related Financial Disclosures (TCFD), the Sustainability Accounting Standards Board (SASB) and the principles of integrated reporting. We also link our activities to the UN Sustainable Development Goals. Since 2023, we have started to consider the impact of IFRS S1 and S2 standards, launched by the International Sustainability Standards Board (ISSB), which have become mandatory for a wide range of companies in Brazil as of January 1, 2026, in accordance with CMN Resolution No. 5,185/2024 and CVM Resolution No. 193/2023.

Our key achievements in 2025 include the following:

·                 We enabled R$38.6 billion in sustainable businesses (including balance sheet financing and debt issuances or other financing we facilitate), including green bond issuances, clean energy financing, and dedicated product options.

·                 We maintained our market leadership in decarbonization credits, or CBIOs, with a 41% share of CBIOs in Brazil in the year ended December 31, 2025, according to data from B3.

·                 In order to support our clients in the transition to a low-carbon economy, we promoted a series of events called "Climate Dialogues" in preparation for COP30. In partnership with WayCarbon, we discuss topics such as transportation and mobility, decarbonization of basic industries and agribusiness. We also participated in more than 50 strategic forums held in Brazil and abroad on the subject, reinforcing our commitment to the global climate agenda. Among the events in which we participated, we can highlight the Brazilian Climate Investment Week, the London Climate Week, Febraban Tech and the World Economic Forum.

·                 In 2025, we facilitated the first New Climate Fund transaction focused on reforestation in Brazil, with an investment of R$ 100 million, of which R$ 80 million came from the climate fund and R$ 20 million from a BNDES financing line. The transaction was secured by Santander Brasil, which we believe represents a significant step forward in mobilizing private capital for climate solutions. The beneficiary was Mombak, a startup specializing in carbon removal, which works in the restoration of degraded areas in the Amazon. This Mombak project will be implemented in the state of Pará and aims to recover Amazonian biodiversity, remove carbon on a large scale and generate local jobs, promoting a new economy of the standing forest.

·                 Biomas, an ecological restoration company co-founded by Santander Brasil and five other companies, has launched its first forest restoration project in partnership with Veracel Celulose in the south of the state of Bahia. The Muçununga Project aims to recover 1,200 hectares of the Atlantic Forest, planting two million seedlings of more than 70 native species, such as ipê-amarelo, jatobá and jacaranda-da-bahia. With an initial investment of R$ 55 million, we believe that the project has the potential to generate 500 thousand carbon credits over 40 years, with a premium market value due to the high integrity of the credits and the positive impacts on biodiversity and local communities. We believe that this initiative also promotes environmental benefits, such as improved soil and water quality, and social benefits, such as the generation of jobs and income in municipalities in the region.

·                 We launched the "Skills without Limits" program, a journey for hiring and training professionals with disabilities.

·                 In the microfinance segment, Prospera achieved credit production of R$5.2 billion in the year ended December 31, 2025, an increase of 6% compared to the year ended December 31, 2024. The total portfolio grew 5% compared to December 31, 2024, reaching BRL 3.5 billion on December 31, 2025, with a total base of 1.2 million active customers as of December 31, 2025. In addition to the financial results, Prospera impacted more than 10,000 people with Educate to Prosper, our face-to-face financial education program for customers and non-customers in the communities where we operate.

·                 In the educational initiatives carried out by Santander Brasil, more than 11,000 people have benefited through programs in Brazil. The granting of 80 scholarships to university students at the University of Salamanca for the learning of Spanish and the offer of 15,000 scholarships in Artificial Intelligence for teachers are some of the initiatives implemented. In 2025, the innovation and technology committee was created and integrated into the structure of the advisory committees of the Board of Directors to foster and oversee the implementation of innovation initiatives throughout our organization.

·                 The pillars of our volunteer program are financial education, professional development, and safeguarding the rights of children, adolescents, and the elderly. We offer financial education for teens and adults and mentorship for youth, as well as organizing a winter clothing drive, among other volunteering initiatives.

·                 In 2025, we monitored the execution of 65 projects of the Amigo de Valor program and 47 projects of the Elderly Partner program. More than 8,000 children, the elderly and their families have benefited directly from the assistance provided. Considering the total amount mobilized by Santander Brasil, its affiliates, customers and employees, the reach of the initiatives exceeds 20,000 people.

·                 We have also launched a new campaign to support projects that will be carried out throughout 2026. More than R$ 26 million were raised to support 59 projects of the Amigo de Valor program, which aim to expand and improve the offer of social assistance services for children and adolescents in vulnerable situations. In addition, R$ 18.5 million were raised to support 47 projects of the Partner of the Elderly program, which will contribute to the promotion of dignified aging and the improvement of local public policies.

·                 We launched the Santander Integrated Social Program with the objective of expanding social impact in municipalities with greater social vulnerability and a strong banking presence. The initiative combines different areas of action, focusing on local development, income generation and improving the quality of life of the population. The first phase took place in 30 municipalities in the states of Pernambuco and Maranhão, all with low human development indexes, and focused on cultural and sports activities.

·                 Through the provision of tools based on our financial education policy, such as communication processes in the customer journey and in the product journey, lectures and courses, more than 48 thousand people were impacted by some form of financial education action. Our financial education portal features content, guides, and worksheets to support financial health. We also promote community-oriented volunteer activities and various lectures.

·                 We also have a diverse and independent board of directors, with 45% of members being women and 55% of members being independent as of December 31, 2025.

In recognition of our environmental, social and governance efforts, we were awarded the "Best Bank for Sustainable Finance in Brazil 2025" awards by Euromoney magazine. We also received the "LatinFinance Project & Infrastructure Finance Awards" in three different categories in 2025: Infrastructure Bank of the Year in Latin America; Renewable Energy Financing of the Year; and Road Financingofthe Year.

During COP30, we participated in the "B3 ESG Index Triad Celebration", which brought together 30 companies that stand out for their good ESG practices and performance. The awarded companies are part of B3's three main sustainability indexes: ISE (Corporate Sustainability Index), ICO2 (Efficient Carbon Index) and iDIVERSA (Diversity Index). We also achieved an A rating from CDP, the largest database on corporate practices related to climate change, emissions, water and forests.