XP Inc.

Sensitivity analysis

According to the market information, the Group performed the sensitivity analysis by market risk factors considered relevant. The largest losses, by risk factor, in each of the scenarios were presented with an impact on the profit or loss, providing a view of the exposure by risk factor of the Group in exceptional scenarios. The following sensitivity analyzes do not consider the functioning dynamics of risk and treasury areas, since once these losses are detected, risk mitigation measures are quickly triggered, minimizing the possibility of significant losses.

XP Inc. and its subsidiariesNotes to unaudited interim condensed consolidated financial statementsAs of June 30, 2026In thousands of Brazilian Reais, unless otherwise stated

Scenario I: Increase of 1 basis point in the rates in the fixed interest rate yield, exchange coupons, inflation and 1 percentage point in the prices of shares, commodities and currencies;

Scenario II: Project a variation of 25 percent in the rates of the fixed interest yield, exchange coupons, inflation, prices of shares, commodities and currencies, both rise and fall, being considered the largest losses resulting by risk factor; and

Scenario III: Project a variation of 50 percent in the rates of the fixed interest yield, exchange coupons, inflation, prices of shares, commodities and currencies, both rise and fall, being considered the largest losses resulting from the risk factor.

29 Capital Management

Although capital is managed considering the consolidated position, certain subsidiaries are subject to minimum capital requirement from local regulators.

The subsidiary Banco XP, leader of the Prudential Conglomerate (which includes XP CCTVM, XP DTVM, XP Serviços Financeiros DTVM and some proprietary funds), under BACEN regulation regime, is required to maintain a minimum capital and follow aspects from the Basel Accord.

The subsidiary XP Vida e Previdência operates in retirement plans and insurance business and is oversight by the SUSEP, being required to present Adjusted Shareholders' Equity (PLA) equal to or greater than the Minimum Required Capital (“CMR”), CMR is equivalent to the highest value between base capital and Venture Capital Liquidity (“CR”).

On June 30, 2026, the subsidiaries Banco XP and XP Vida e Previdência were in compliance with all capital requirements.

There is no requirement for compliance with a minimum capital for the other Group companies.

30 Cash flow information

Debt securities include Debentures measured at FVPL presented in Note 4(e) and does not include fair value adjustments of (i) Debentures - R$ (158,883) (R$ 3,840 - December 31, 2025) and (ii) Bonds - R$ (131,252) (R$ (113,541) - December 31, 2025).

During the six months period ended June 30, 2025, the Group paid R$ 113,127 in connection with the minority stake acquisitions disclosed in note 2(d)(i). The Group also paid a total amount of R$ 119,182 in contingent consideration arrangements, due to the achievement of the triggers provided for in the shareholders' agreement with its associates.

During the six months period ended June 30, 2026, the Group paid R$ 65,000 in connection with the minority stake acquisitions disclosed in note 2(d)(i) and R$ 16,492 in connection with the business combinations disclosed in note 2(d)(ii).

During the six months period ended June 30, 2025, the Group sold property and equipment assets in a total amount of R$ 132,003, which is payable in 10 years, indexed to CDI. The amount was recorded through ‘Accounts receivable’.

During the six months period ended June 30, 2026, the Group concluded the minority stake acquisitions disclosed in note 2(d)(i). From the total consideration of these transactions, an amount of R$ 42,500 was recorded through contingent consideration (Note 14(b)) and R$ 37,908 was recorded through 'Other financial liabilities'.

31 Subsequent events

On July 16, 2026, the Group prepaid the outstanding balance of borrowings with the Brazilian Central Bank, disclosed in Note 13. The total amount of the prepayment was R$ 805,306.

On August 17, 2026, the Board of Directors approved the cancellation of 11,791,755 Class A shares (2.3% of total shares) held by the Company in treasury. Total share count went from 520,292,030 to 508,500,275 after cancellation.