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D. Employees

As of December 31, 2024, 2023 and 2022 we had 16,793, 17,091 and 16,685 full-time employees, respectively. As of December 31, 2024, 3,882 of these employees were based in our offices in São Paulo, 3,033 of these employees were based in our offices in Rio de Janeiro, and 9,878 were based in other cities elsewhere in Brazil and in other countries, mainly in Latin America and the Caribbean. We also engage consultants as needed to support our operations.

The table below breaks down our full-time personnel by function as of December 31, 2024:

Number ofEmployees · % of Total · Number ofEmployees
Function · 2024 · 2023 · 2022
Administrative2,06312.3%2,2272,199
Operations4,29725.6%4,4724,839
Technology and Product Development4,57327.2%4,8004,608
Sales and Marketing5,86034.9%5,5925,039
Total16,793100%17,09116,685

Our employees in Brazil are affiliated with the labor unions of independent sales agents and of consulting, information, research and accounting firms for the geographic area in which they render services. We believe we have a constructive relationship with these unions, as we have never experienced strikes, work stoppages or disputes leading to any form of downtime.

None of our executive officers have entered into employment agreements with us.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.