Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2025

Transactions with Related Parties [Abstract]

Schedule of Transactions with Related Parties

As of December 31, 2025

		J&F Participações				Banco Original				Key Personnel ^{(4) (a)}				Others ^(b)				Total
As of December 31, 2025

Assets
Cash and cash equivalents			-				13,837				-				-				13,837
Trade receivables			206				1,269				-				75				1,550
Financial investments			-				154,852				-				-				154,852
Derivative instruments			-				27,572				-				-				27,572
Consumer loans			914,098				-				-				83,352				997,450
Other receivables			74,907				-				-				266				75,173
Total			989,211				197,530				-				83,693				1,270,434

Liabilities
Trade payables			15				324				-				-				339
Third-party funds			-				27,702				-				6,189				33,891
Labor obligations			-				-				1,125				-				1,125
Total			15				28,026				1,125				6,189				35,355

In the year ended December 31, 2025
Revenues and expenses
Commission – banking correspondent and marketplace			55				124,132	(1)			-				326				124,513
Financial income			8,144				-				-				245				8,389
Transaction expenses			-				(1,060	)			-				-				(1,060	)
Revenue from financial investments			-				65,907	⁽²⁾			-				-				65,907
Interest and other financial expenses			-				(53,020	)⁽³⁾			-				-				(53,020	)
Selling expenses			(1,796	)			-				-				-				(1,796	)
Administrative expenses			(12,571	)			(19,030	)			(24,444	)⁽⁴⁾			(61	)			(56,106	)
Total			(6,168	)			116,929				(24,444	)			510				86,827

		J&F Participações				Banco Original				Key Personnel ^{(4) (a)}				Others ^(b)				Total
As of December 31, 2024

Assets
Cash and cash equivalents			-				68,881				-				-				68,881
Trade receivables			-				10,505				-				22,547				33,052
Financial investments			-				862,581				-				-				862,581
Derivative instruments			-				54,187				-				-				54,187
Other receivables			67,507				-				-				35,583				103,089
Total			67,507				996,154				-				58,130				1,121,791

Liabilities
Third-party funds			-				21				-				24,446				24,467
Total			-				21				-				24,446				24,467

In the year ended December 31, 2024
Revenues and expenses
Commission – banking correspondent and marketplace			-				156,070	(1)			-				-				156,070
Interest income from receivables			4,054				-				-				4,621				8,675
Credit card acquisition			-				140,979				-				-				140,979
Revenue from financial investments			-				94,509	⁽²⁾			-				-				94,509
Transaction expenses			-				(40,123	)			-				-				(40,123	)
Interest and other financial expenses			-				(29	)⁽³⁾			-				-				(29	)
Administrative expenses			-				85,920				(18,163	)			-				67,756
Other expense			-				-				-				(19,525	)			(19,525	)
Total			4,054				437,325				(18,163	)			(14,904	)			408,312

		J&F Participações				Banco Original				Key Personnel ^{(4) (a)}				Others ^(b)				Total

As of December 31, 2023

Assets
Cash and cash equivalents			-				4,212,893				-				-				4,212,893
Trade receivables			23				294,965				-				15,882				310,870
Other receivables			67,507				7,215				-				45,519				120,241
Total			67,530				4,515,073				-				61,401				4,644,004

Liabilities
Trade payables			-				270,427				-				9				270,436
Third-party funds			-				50				-				127,633				127,683
Total			-				270,477				-				127,642				398,119

In the year ended December 31, 2023
Revenues and expenses
Commission – banking correspondent and marketplace			-				220,447	⁽¹⁾			-				-				220,447
Revenue from financial investments			-				303,249	⁽²⁾			-				-				303,249
Transaction expenses			-				(17,279	)			-				-				(17,279	)
Interest and other financial expenses			-				(20,169	)			-				-				(20,169	)
Administrative expenses			-				76,510				(18,457	)			-				58,053
Total			-				562,758				(18,457	)			-				544,301

(a)	Includes C-suite and Board of Directors.

(b)	Includes close family members of key personnel, among others

(1)

For the year ended December 31, 2025, the Group recognized revenues of R$ 11,988 (R$ 14,674 for the year ended December 31, 2024) related to the Credit Card Partnership Agreement, revenues of R$ 107 for the year ended December 31, 2025 (R$ 64,911 for the year ended December 31, 2024) related to banking correspondent services, revenues of R$ 58,839 for the year ended December 31, 2025 (R$ 14,535 for the year ended December 31, 2024 and R$ 13,616 for the year ended December 31, 2023) related to the API licensing agreement as well as revenues of R$ 53,198 for the year ended December 31, 2025 (R$ 61,950 for the year ended December 31, 2024) related to Credit Recovery Services. The Credit Card Partnership Agreement has a term of 10 years and will be automatically renewed for another five years, unless either party objects upon notice. For the year ended December 31, 2023, the Group recognized a revenue of R$ 154,880.

(2)	For the year ended December 31, 2025 PicPay had financial investments placed with Banco Original, which generated financial income of R$ 65,907 (R$ 94,509 for the year ended December 31, 2024 and R$ 303,249 for the year ended December 31, 2023). Refer to Note 6 for further details.

(3)

For the year ended December 31, 2025, the Group recorded an expense of R$ 0 (R$ 29 for the year ended December 31, 2024 and R$ 35 for the year ended December 31, 2023) related to interest with a bank account held at Banco Original, an expense of R$ 53,020 (R$ 0 for the year ended December 31, 2024 and R$ 20,134 for the year ended December 31, 2023) related to the Assignment of Rights Agreement.

(4)

For the year ended December 31, 2025, the amount paid as compensation to key management, including short-term benefits and long term incentive plan was R$ 24,444 (R$ 18,163 for the year ended December 31, 2024 and R$ 18,457 for the year ended December 31, 2023). The amounts were recognized as expenses during the reporting period.