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(the &#8220;Company&#8221;), formerly known as DLP Payments Holdings Ltd., is a Cayman Islands exempted company with limited liability, incorporated on March&#160;11, 2014. 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The assets and liabilities from StoneCo Brasil Participa&#231;&#245;es S.A. (&#8220;StoneCo Brasil&#8221;) were split into Stone Pagamentos S.A. (&#8220;Stone&#8221;) and other two new holdings, STNE Participa&#231;&#245;es S.A. (&#8220;STNE Par&#8221;) and STNE Participa&#231;&#245;es em Tecnologia S.A. (&#8220;STNE Par Tec&#8221;). StoneCo Brasil was extinct. </div></div><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%; background: none;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">The reorganization conducted had the objective to create a more efficient corporate organization structure, allowing for a reduction in administrative expenses. 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Intangible assets with indefinite useful lives and goodwill are tested for impairment annually at the level of the CGU, as appropriate, and when circumstances indicate that the carrying value may be impaired. Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs to sell and its value in use. </div></div><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%; background: none;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at arm&#8217;s length, for similar assets or observable market prices less incremental costs of disposing of the asset. 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The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to profit or loss. 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The classification is determined on an <div style="white-space: nowrap; background: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap;;display:inline;">instrument-by-instrument</div></div> basis.</div><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%; background: none;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in the statement of profit or loss when the right of payment has been established, except when the Group benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. 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The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to profit or loss. 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Group companies are party to labor and civil litigation in progress, which are being addressed at the administrative and judicial levels. 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The Group&#8217;s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group&#8217;s financial performance. The Group uses derivative financial instruments to mitigate certain risk exposures. It is the Group&#8217;s policy that no trading in derivatives for speculative purposes may be undertaken. </div></div><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%; background: none;">Risk management is carried out by a central treasury department (&#8220;Group treasury&#8221;) under policies approved by the Board of Directors. Group treasury identifies, evaluates and hedges financial risks in close <div style="white-space: nowrap; background: none; letter-spacing: 0px; top: 0px;;display:inline;">co-operation</div> with the Group&#8217;s operating units. 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