Nu : Financial Statements 1Q26

Published: 2026-05-14 17:15:27 ET NU

Published on 05/14/2026 at 05:15 pm EDT

KPMG Auditores Independentes Ltda.

Rua Verbo Divino, 1400 - Conjunto Térreo ao 801 - parte, Chácara Santo Antônio, CEP 04719-911, São Paulo - SP Caixa Postal 79518 - CEP 04707-970 - São Paulo - SP - Brasil Telefone 55 (11) 3940-1500

kpmg.com.br

Independent Auditors' report on review of Interim Condensed Consolidated Financial Statements

To the Board of Directors and Shareholders of

Nu Holdings Ltd.

Cayman Islands

Introduction

We have reviewed the accompanying interim condensed consolidated statement of financial position of Nu Holdings Ltd. ("Company") as at March 31, 2026, the interim condensed consolidated statements of income, comprehensive income, changes in equity and cash flows for the three-month period then ended, and notes to the interim condensed consolidated financial statements.

Management is responsible for the preparation and presentation of these interim condensed consolidated financial statements in accordance with IAS 34, ´Interim Financial Reporting´. Our responsibility is to express a conclusion on these interim condensed consolidated financial statements based on our review.

Scope of review

We conducted our review in accordance with Brazilian and International Standards on Review Engagements (NBC TR 2410 - Revisão de Informações Intermediárias Executada pelo Auditor da Entidade and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim condensed consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

KPMG Auditores Independentes Ltda., uma sociedade simples brasileira, de responsabilidade limitada e firma-membro da organização global KPMG de firmas-membro independentes licenciadas da KPMG International Limited, uma empresa inglesa privada de responsabilidade limitada.

KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

‌Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial statements as at March 31, 2026, are not prepared, in all material respects, in accordance with IAS 34, 'Interim Financial Reporting'.

São Paulo, May 14, 2026.

KPMG Auditores Independentes Ltda. CRC 2SP-014428/O-6

João Paulo Dal Poz Alouche Accountant CRC 1SP245785/O-2

‌Statements of Income‌

For the three-month period ended March 31, 2026 and 2025

(In thousands of U.S. Dollars, except earnings per share)

Note

03/31/2026

03/31/2025

Interest income and gains net of losses on financial instruments

4,275,313

2,732,136

Fee and commission income

692,654

515,553

Total revenue

4,967,967

3,247,689

Interest and other financial expenses

(1,269,184)

(896,204)

Transactional expenses

(115,886)

(58,488)

Expected credit loss

(1,718,015)

(973,544)

Total cost of financial and transactional services provided

(3,103,085)

(1,928,236)

Gross profit

1,864,882

1,319,453

Operating (expenses) income

Customer support and operations

(204,874)

(151,475)

General and administrative expenses

(492,040)

(289,823)

Marketing expenses

(62,893)

(44,097)

Other expenses

(169,776)

(106,910)

Other income

20,042

69,055

Total operating (expenses) income

(909,541)

(523,250)

Share of loss in associates

(1,035)

(1,130)

Income before income taxes

954,306

795,073

Income taxes

(82,875)

(237,865)

Net income for the period

871,431

557,208

Net income attributable to shareholders of the parent company

872,056

557,203

Net income (loss) attributable to non-controlling interests

(625)

Earnings per share - Basic

0.1796

0.1157

Earnings per share - Diluted

0.1776

0.1139

Weighted average number of outstanding shares - Basic (in thousands of shares)

4,856,189

4,816,294

Weighted average number of outstanding shares - Diluted (in thousands of shares)

4,910,266

4,892,628

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

‌Statements of Comprehensive Income‌

For the three-month period ended March 31, 2026 and 2025

(In thousands of U.S. Dollars)

Note

03/31/2026

03/31/2025

Net income for the period

871,431

557,208

Other comprehensive income:

Effective portion of changes in fair value

(25,234)

8,333

Changes in fair value reclassified to profit or loss

10,206

(35,619)

Deferred income taxes

4,543

4,923

Cash flow hedge

(10,485)

(22,363)

Effective portion of changes in fair value

(64,573)

Net investment hedge

(64,573)

Changes in fair value

1,451

8,321

Deferred income taxes

(1,389)

(4,111)

Financial assets at fair value through other comprehensive income

4,210

Currency translation on foreign entities

442,630

365,659

Total other comprehensive income (loss) that are or may be reclassified subsequently to profit or loss

367,634

347,506

Changes in fair value - own credit adjustment

Total other comprehensive income (loss) that will not be reclassified to profit or loss subsequently

Total other comprehensive income (loss), net of tax

367,634

347,526

Total comprehensive income for the period, net of tax

1,239,065

904,734

Total comprehensive income attributable to shareholders of the parent company

1,239,690

904,729

Total comprehensive income attributable to non-controlling interests

(625)

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

‌As of March 31, 2026 and December 31, 2025‌

(In thousands of U.S. Dollars)

Note

03/31/2026

12/31/2025

Assets

Cash and cash equivalents

13,920,432

15,003,643

Financial assets at fair value through profit or loss

1,546,311

1,140,671

Securities

1,160,009

1,059,923

Derivatives

386,302

80,748

Financial assets at fair value through other comprehensive income

11,367,118

12,157,076

Securities

11,367,118

12,157,076

Financial assets at amortized cost

44,682,618

41,518,114

Credit card receivables

20,187,218

18,267,904

Loans to customers

10,968,766

9,421,458

Compulsory and other deposits at central banks

9,195,997

9,537,788

Securities

3,369,572

3,141,504

Other receivables

829,192

1,000,683

Other financial assets

131,873

148,777

Other assets

1,685,842

1,403,870

Deferred tax assets

2,971,664

2,510,967

Investments in associates

97,667

98,702

Right-of-use assets

40,237

22,244

Property, plant and equipment

34,955

27,550

Intangible assets

700,192

601,669

Goodwill

409,371

Total assets

77,456,407

74,893,877

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

‌As of March 31, 2026 and December 31, 2025

(In thousands of U.S. Dollars)

Note

03/31/2026

12/31/2025

Liabilities

Financial liabilities at fair value through profit or loss

370,865

65,969

Derivatives

345,443

65,969

Obligations for quotas of investment funds

25,422

Financial liabilities at amortized cost

62,610,435

60,741,103

Deposits

42,448,121

41,925,101

Payables to network

14,409,716

13,633,949

Borrowings and financing

4,504,241

4,398,216

Repurchase agreements

1,248,357

783,837

Salaries, allowances and social security contributions

222,890

236,565

Tax liabilities

494,402

1,424,118

Lease liabilities

49,419

29,197

Provisions and contingent liabilities

38,488

30,920

Deferred income

83,714

77,521

Other liabilities

994,368

966,922

Total liabilities

64,864,581

63,572,315

Equity

Share capital

Share premium reserve

5,063,185

5,062,464

Retained earnings

7,342,174

6,412,700

Other comprehensive income (loss)

183,334

(184,300)

Equity attributable to shareholders of the parent company

12,588,777

11,290,948

Equity attributable to non-controlling interests

3,049

30,614

Total equity

12,591,826

11,321,562

Total liabilities and equity

77,456,407

74,893,877

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

For the three-month period ended March 31, 2026 and 2025

(In thousands of U.S. Dollars)

Attributable to shareholders of the parent company

Other comprehensive income (loss)

Note

Share capital

Share premium reserve

Retained earnings

Translation reserve

Cash flow hedge reserve

Financial Assets at FVTOCI

Net investment hedge

Own credit revaluation reserve

Total

Total non-controlling interests

Total equity

Balances as of December 31, 2025

5,062,464

6,412,700

(196,018)

(4,076)

15,296

498

11,290,948

30,614

11,321,562

Net income for the period

872,056

(625)

871,431

Share-based compensation, net of shares withheld for employee taxes

57,418

Shares issued on business acquisition

625

Stock options exercised

Movements in non-controlling interests

(26,940)

Other comprehensive income, net of tax

Cash flow hedge

(10,485)

Net investment hedge

(64,573)

Fair value changes -

financial assets at FVTOCI

Currency translation on foreign entities

442,630

Balances as of March 31, 2026 84 5,063,185 7,342,174 246,612 (14,561) 15,358 (64,573) 498 12,588,777 3,049 12,591,826

Attributable to shareholders of the parent company

Other comprehensive income (loss)

Note Share

capital

Share premium reserve

Retained earnings

Translation reserve

Cash flow hedge reserve

Financial Assets at FVTOCI

Own credit revaluation reserve

Total

Total non-controlling interests

Total equity

Balances as of December 31, 2024 84 5,053,776 3,420,596 (862,977) 22,750 11,582 478 7,646,289 787 7,647,076

55,714

Share-based compensation, net of

shares withheld for employee taxes

Net income for the period - - 557,203 - - - - 557,203 5 557,208

Stock options exercised 31 - 398 - - - - - 398 - 398

Shares issued on business acquisition 31 - 779 - - - - - 779 - 779

Other comprehensive income or loss, net of tax 31

Movements in non-controlling interests - - - - - - - - 216 216

Cash flow hedge - - - - (22,363) - - (22,363) - (22,363)

Own credit adjustment - - - - - - 20 20 - 20

Fair value changes - financial assets at FVTOCI - - - - - 4,210 - 4,210 - 4,210 Currency translation on foreign entities - - - 365,659 - - - 365,659 - 365,659

Balances as of March 31, 2025 84 5,054,953 4,033,513 (497,318) 387 15,792 498 8,607,909 1,008 8,608,917

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

For the three-month period ended March 31, 2026 and 2025

(In thousands of U.S. Dollars)

Note

03/31/2026

03/31/2025

Cash flows from operating activities

Reconciliation of net income to net cash flows from operating activities:

Net income for the period

871,431

557,208

Adjustments:

Depreciation and amortization

34,364

21,322

Expected credit loss

1,874,163

1,074,571

Deferred income taxes

(319,771)

156,751

Provisions and contingent liabilities

6,906

960

Unrealized (gains) losses on financial instruments

23,089

(16,314)

Interest accrued

115,531

47,623

Share-based compensation

82,408

77,785

Share of loss in associates

1,035

1,130

Others

24,705

(2,121)

2,713,861

1,918,915

Changes in operating assets and liabilities:

Securities

451,368

335,731

Credit card receivables

(4,241,128)

(2,750,317)

Loans to customers

(3,774,595)

(2,790,768)

Other receivables

162,174

512,972

Compulsory and other deposits at central banks

336,881

(616,755)

Other assets

(265,418)

(467,161)

Deposits

515,507

2,643,104

Payables to network

758,159

734,894

Deferred income

6,104

13,483

Other liabilities

924,129

878,488

Interest paid

(85,040)

(20,360)

Income tax paid

(1,527,621)

(1,172,936)

Interest received

2,811,685

1,866,055

Cash flows generated from (used in) operating activities

(1,213,934)

1,085,345

Cash flows in investing activities

Acquisition of property, plant and equipment

(4,515)

(2,400)

Acquisition and development of intangible assets

(70,732)

(80,115)

Others

1,130

Cash flow generated from (used in) investing activities

(75,247)

(81,385)

Cash flows in financing activities

Proceeds from borrowings and financing

123,668

187,171

Payments of borrowings and financing

(201,570)

(355,041)

Lease payments

(2,167)

(1,728)

Exercise of stock options

(96)

398

Cash flows generated from (used in) financing activities

(80,165)

(169,200)

Change in cash and cash equivalents

(1,369,346)

834,760

Cash and cash equivalents

Cash and cash equivalents - beginning of the period

15,003,643

9,185,742

Foreign exchange rate changes on cash and cash equivalents

286,135

263,505

Cash and cash equivalents - end of the period

13,920,432

10,284,007

Increase (decrease) in cash and cash equivalents

(1,369,346)

834,760

Non-cash transactions

Shares issued on business acquisition

625

75,308

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

(In thousands of U.S. Dollars, unless otherwise stated)

OPERATIONS

Nu Holdings Ltd. ("Company" or "Nu Holdings") was incorporated as an exempted Company under the Companies Law of the Cayman Islands on February 26, 2016. The address of the Company's registered office is Willow House, 4th floor, Cricket Square, Grand Cayman - Cayman Islands. Nu Holdings has no operating activities with customers. The Company and its consolidated subsidiaries are referred to in these unaudited interim condensed consolidated financial statements as the "Group" or "Nu".

The Company's shares are publicly traded on the New York Stock Exchange ("NYSE") under the symbol "NU". The Company holds investments in several operating entities and, as of March 31, 2026, its significant operating subsidiaries were:

Nu's business plan provides for the continued growth of its Brazilian, Mexican, and Colombian operations, both through the expansion of its existing product lines, including, credit card, personal loans, investments, and insurance, as well as the introduction of new products. The business plan also contemplates the potential international expansion into new geographies as part of the Group's long-term growth strategy. Accordingly, these unaudited interim condensed consolidated financial statements were prepared based on the assumption of the Group continuing as a going concern.

On January 29, 2026, Nu received conditional approval from the Office of the Comptroller of the Currency ("OCC") of the United States for the formation of a national bank. The conditional approval is aligned with the Company's strategy to expand its operations and product offerings in the United States. Once the OCC's conditions are satisfied and final approval is granted, the national bank charter will enable Nubank to operate under a comprehensive federal regulatory framework and facilitate the offering of deposit accounts, credit cards, lending products and digital-asset custody services.

The Company's Board authorized the issuance of these unaudited interim condensed consolidated financial statements on May 14, 2026.

Seasonality

The Company's business is affected by customer behavior throughout the year and demonstrates seasonality effects. Historically, Nu benefits from higher purchase volume and related revenue in the fourth quarter of the year due to the holiday season. However, Nu's high historical growth has masked this seasonality in the past, and this may become more pronounced in the future. As a result of seasonality fluctuations caused by these and other factors, comparisons of the results of operations across different periods may not be accurate indicators of future performance. As the Company diversify its business across product lines, seasonality may be reduced.

STATEMENT OF COMPLIANCE

These unaudited interim condensed consolidated financial statements do not include all the information required for a complete set of financial statements prepared in accordance with International Financial Reporting Standards - Accounting Standards (IFRS - Accounting Standards) as issued by International Accounting Standards Board ("IASB"). However, selected condensed explanatory notes are included to explain events and transactions that are significant to understanding the changes in the Group's financial position and performance since the issuance of its last annual financial statements.

The Company's unaudited interim condensed consolidated financial statements have been prepared in accordance with IAS 34 - Interim Financial Reporting issued by IASB. Accordingly, these unaudited interim condensed consolidated financial statements are to be read in conjunction with the annual consolidated financial statements for the year ended December 31, 2025 (the "Annual Financial Statements").

Functional currency and foreign currency translation

Nu Holding's functional and presentation currency

Nu Holdings does not have any direct customers, and its main direct activities are (i) investing in the operating entities in Brazil, Mexico, Colombia, as well as in other countries, (ii) financing, either equity or debt, and (iii) the payment of certain general and administrative expenses. As a result, these are considered its primary and secondary activities, and all of them are substantially based in US Dollars ("US$"), which was selected as the functional and presentation currency of Nu Holdings.

Subsidiary's functional currency

For each subsidiary of the Group, the Company determines the currency that best reflects the economic substance of the underlying events and circumstances relevant to that entity ("functional currency"). Items included in the financial statements of each subsidiary are measured using that functional currency. The functional currency of the Brazilian operating entities is the Brazilian real, the Mexican entities is the Mexican peso, and the Colombian entity is the Colombian peso.

‌Translation of transactions and balances

Foreign currency transactions and balances are translated in two consecutive stages:

The main criteria applied to the translation of financial statements of foreign subsidiaries to US$ are as follows:

New or revised accounting pronouncements and relevant matters adopted in 2026:

The following new or revised accounting standards issued by IASB, were effective for the period covered by these unaudited interim condensed consolidated financial statements and had no significant impact.

Other new or revised accounting pronouncements issued but not yet effective:

These amendments are effective as of January 1, 2027. Management does not expect the adoption of the amendments described above to have a significant impact, other than additional disclosures, on the Group's unaudited interim condensed consolidated financial statements.

The new standard replaces IAS 1 - Presentation of Financial Statements and determines a new structure for the statement of income by categorizing it into predefined sections: operating, investing, financing, discontinued operations, and income tax. It also requires the disclosure of management-defined performance measures (MPMs) in a single note within the financial statements. These amendments will take effect on January 1, 2027. The Group is reviewing the impacts of the new standard, and structuring action plans for its adoption.

BASIS OF CONSOLIDATION

These unaudited interim condensed consolidated financial statements include the accounting balances of Nu Holdings and all those subsidiaries over which the Company exercises control, directly or indirectly. Control is achieved where the Company has (i) power over the investee; (ii) is exposed, or has rights, to variable returns from its involvement with the investee; and (iii) can use its power to affect its profits.

The Company re-assesses whether it maintains control of an investee if facts and circumstances indicate that there are changes to one or more of the three above mentioned elements of control.

The consolidation of a subsidiary begins when the Company obtains control over it and ceases when the Company loses control over it. Assets, liabilities, income, and expenses of a subsidiary acquired or disposed of during the reporting period are included in the consolidated statements of income from the date the Company gains control until the date the Company ceases to control the subsidiary.

The financial information of the subsidiaries was prepared for the same period as the Company and consistent accounting policies were applied. The financial statements of the subsidiaries are fully consolidated with those of the Company. Accordingly, all balances, transactions and any unrealized income and expenses arising between consolidated entities are eliminated in the consolidation, except for foreign-currency gain and losses on translation of intercompany loans. Profit or loss and each component of other comprehensive income are attributed to the shareholders of the parent and to the non-controlling interests, when applicable.

The subsidiaries below are the most relevant entities included in these unaudited interim condensed consolidated financial statements:

Interest in total capital %

Functional

Entity

Control

Principal activities

currency

Country

03/31/2026

12/31/2025

Nu Pagamentos S.A. - Instituição de Pagamentos ("Nu Pagamentos")

Indirect

Credit card and prepaid account operations

BRL

Brazil

100%

Nu Financeira S.A. - SCFI ("Nu Financeira")

Indirect

Loan operations and prepaid account operations

BRL

Brazil

100%

Nu Investimentos S.A. - Corretora de Títulos e Valores Mobiliários ("Nu Investimentos")

Indirect

Investment platform

BRL

Brazil

100%

Nu México Financiera, S.A. de C.V., S.F.P. ("Nu Mexico Financiera")

Indirect

Multiple purpose financial company

MXN

Mexico

100%

Nu Colombia Compañía de Financiamiento S.A. ("Nu Colombia Financiera")

Indirect

Multiple purpose financial company

COP

Colombia

100%

The interest owned by other investors in these entities are presented as non-controlling interests in these unaudited interim condensed consolidated financial statements.

Nu Pagamentos, Nu Financeira, and Nu Investimentos, Brazilian subsidiaries, are regulated by the Central Bank of Brazil ("BACEN"); Nu Mexico Financiera, a Mexican subsidiary, is regulated by both the Mexican Central Bank ("BANXICO") and Mexican National Banking and Stock Commission ("CNBV"); Nu Colombia, a Colombian subsidiary, is regulated by the Financial Superintendence of Colombia ("SFC"); and as such, there are some regulatory requirements that restrict the ability of the Group to access and transfer assets freely to or from these entities within the Group and to settle liabilities of the other entities of the Group.

In addition, the Company consolidated investment funds as of March 31, 2026 and December 31, 2025, in which the Group's companies hold a substantial interest or the entirety of the interests and are therefore exposed, or have rights, to variable returns and, have the ability to affect those returns through power over the funds. As of March 31, 2026, the non-controlling interests portion relating to investment fund quotas is disclosed as "Obligations for quotas of investment funds" in the Consolidated Statements of Financial Position.

‌MATERIAL ACCOUNTING POLICIES

The accounting policies adopted by the Group in the preparation of these unaudited interim condensed consolidated financial statements are consistent with those adopted and disclosed in the Annual Financial Statements and therefore should be read in conjunction.

In addition to those accounting policies, in March 2026, the Group adopted a new accounting policy related to the hedge of net investments in foreign operations, as described below.

Hedge of net investment in foreign operations: The Group adopted and designates certain derivatives as hedges of net investment in foreign operations, more specifically to hedge its operations in Brazilian reais. Hedges of net investments in foreign operations are accounted for in a similar way to cash flow hedges. The effective portion of gains and losses on the hedging instrument is recognized in other comprehensive income and the ineffective portion is recognized immediately in the statement of income. Gains and losses previously recognized in other comprehensive income are reclassified to the statements of income on the disposal, or partial-disposal, of the foreign operation.

SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS

Use of estimates and judgments

The preparation of financial statements requires judgments, estimates, and assumptions from management that affect the application of accounting policies, and reported amounts of assets, liabilities, revenues, and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on a periodic basis. Revisions to the estimates are recognized prospectively.

The significant assumptions and estimates used in the preparation of these unaudited interim condensed consolidated financial statements were the same as those adopted in the Annual Financial Statements.

Credit losses on financial instruments for credit card receivables and loans to customers

The Group recognizes the expected credit losses ("ECL") on credit cards receivables and loans to customers that represents management's best estimate of allowance as of each reporting date.

Management performs an analysis of the credit card and loan amounts to determine if credit losses have occurred and to assess the adequacy of the allowance based on historical and current trends as well as other factors affecting credit losses.

Key areas of judgment

The critical judgments made by management in applying the ECL methodology are:

The macroeconomic information used to gauge the determination of the probability weights to be given in the different macroeconomic scenarios and the respective weights;

Definition of default;

Definition of significant increase in credit risk and credit card lifetime; and

Look-back period, used for parameters estimation (probability of default - PD, exposure at default - EAD and loss given default - LGD).

Sensitivity analysis

On March 31, 2026, the ECL for credit card receivables and loans to customers totaled US$6,101,244, of which US$4,165,671 related to credit card receivables and US$1,935,573 to loans to customers. The ECL is sensitive to the methodology, assumptions and estimations underlying its calculation. One key assumption is the probability weighting of the macroeconomic scenarios between upside, base and downside as the carrying amount of the expected credit loss is determined based on the weighted average of these scenarios. Such weightings reflect management's perception about the current and future expectations of the macroeconomic environment in each of the geographies the Group operates. The table below illustrates the ECL based on the weighted average of these three macroeconomic scenarios and the ECL that would have arisen if management had applied a 100% weighting to each macroeconomic scenario.

Weighted average

Upside Base case Downside

Credit card and loan ECL 6,101,244 5,668,385 6,016,591 6,611,004

6. INCOME AND RELATED EXPENSES

a) Interest income and gains net of losses on financial instruments

Three-month

period ended

03/31/2026

03/31/2025

Interest income - credit card

1,556,039

951,569

Interest income - loan

1,602,965

1,007,239

Interest income - other assets at amortized cost

649,518

414,845

Interest income - other receivables

100,680

70,815

Interest income and gains net of losses - financial instruments at fair value

339,850

256,729

Other income at fair value

26,261

30,939

Total interest income and gains net of losses on financial instruments

4,275,313

2,732,136

The interest income presented above from credit card, loan, other assets at amortized cost and other receivables were calculated using the effective interest method. Interest income and gain net of losses - financial instruments at fair value comprise interest and the fair value changes on financial instruments carried at fair value.

‌b) Fee and commission income

Three-month

period ended

03/31/2026

03/31/2025

Credit and prepaid card income

486,196

372,384

Late fees

124,878

84,614

Insurance commission

9,744

8,275

Other fee and commission income

71,836

50,280

Total fee and commission income

692,654

515,553

Fee and commission income are presented by fee types that reflect the nature of the services offered by the Group.

c) Interest and other financial expenses

Three-month

period ended

03/31/2026

03/31/2025

Interest expenses on deposits

1,129,262

761,167

Interest expenses on repurchases agreements, borrowings and financing

48,342

62,727

Other interest and similar expenses

91,580

72,310

Interest and other financial expenses

1,269,184

896,204

d) Transactional expenses

Three-month

period ended

03/31/2026

03/31/2025

Payments and network costs

38,618

17,206

Rewards expenses

38,427

19,710

Financial system expenses

13,022

1,247

Other transactional expenses

25,819

20,325

Total transactional expenses

115,886

58,488

Transactional expenses comprise costs and expenses related to data processing for transactions, payment network license fees, chargeback losses relating to credit and prepaid card transactions, and other payment-related costs.

Payments and network costs represent costs associated with bank slip issuance and processing fees, fees paid to Mastercard and other card programs. These include fees for network access, data reporting, development of new functionalities and operational fixed fees.

Rewards expenses represent costs associated with Nu's customer rewards programs, including expenses incurred upon redemption to reward points. Financial system expenses include financial infrastructure services related to clearing houses, custody, brokerage, and other related costs.

EXPECTED CREDIT LOSS

Three-month period ended

03/31/2026

03/31/2025

Net increase of expected credit loss - Credit card receivables (note 13)

1,060,654

640,560

Recovery

(95,476)

(63,205)

Expected credit loss - Credit card receivables

965,178

577,355

Net increase of expected credit loss - Loans to customers (note 14)

807,884

433,665

Recovery

(60,673)

(37,822)

Expected credit loss - Loans to customers

747,211

395,843

Expected credit loss - Others

5,626

346

Total

1,718,015

973,544

‌OPERATING (EXPENSES) INCOME

Three-month period ended 03/31/2026 Three-month period ended 03/31/2025

Customer support and operations

General and administrative expenses

Marketing expenses

Other expenses

Other Total income

Customer support and operations

General and administrative expenses

Marketing expenses

Other expenses

Other Total income

Infrastructure and data processing costs

(76,273)

(81,231)

(157,504)

(59,141)

(48,165)

(107,306)

Credit analysis and collection costs

(36,450)

(7,825)

(44,275)

(24,111)

(8,170)

(32,281)

Customer services

(28,203)

(710)

(28,913)

(26,813)

(1,687)

(28,500)

Salaries and associated benefits

(25,976)

(136,310)

(5,713)

(167,999)

(16,374)

(83,041)

(4,576)

(103,991)

Credit and prepaid card issuance costs

(15,438)

(16,119)

(31,557)

(10,823)

(12,932)

(23,755)

Share-based compensation (note 10)

(2,112)

(77,107)

(3,189)

(82,408)

(1,321)

(70,429)

(2,345)

(74,095)

Specialized services expenses

(13,030)

(18,866)

Other personnel costs

(7,658)

(17,418)

(784)

(25,860)

(5,155)

(13,631)

(543)

(19,329)

Depreciation and amortization

(12,744)

(21,620)

(34,364)

(7,716)

(13,606)

(21,322)

Branding and advertising

(53,207)

(36,633)

Taxes on financial income

(136,531)

(94,725)

Others (i)

(20)

(120,670)

(33,245)

20,042

(133,893)

(21)

(19,296)

(12,185)

69,055

37,553

Total

(204,874)

(492,040)

(62,893)

(169,776)

20,042

(909,541)

(151,475)

(289,823)

(44,097)

(106,910)

69,055

(523,250)

(i) Includes tax expenses arising from intercompany invoices.

9. EARNINGS PER SHARE

03/31/2026

03/31/2025

Earnings attributable to shareholders of the parent company

872,056

557,203

Weighted average outstanding shares - ordinary shares - basic (thousands)

4,856,189

4,816,294

Adjustment for the diluted earnings per share:

Share based payment

51,054

69,701

Business acquisition

3,023

6,633

Total weighted average of ordinary outstanding shares for diluted EPS (in thousands of shares)

4,910,266

4,892,628

Earnings per share - basic (US$)

0.1796

0.1157

Earnings per share - diluted (US$)

0.1776

0.1139

Antidilutive instruments not considered in the weighted number of shares (in thousands of shares)

20,627

19,202

The Company has instruments that will become common shares upon exercise, acquisition, conversion (Stock Options - "SOPs" and Restricted Stock Units - "RSUs" described in note 10), or satisfaction of specific business combination conditions. The effects of the potentially dilutive instruments were calculated using the treasury stock method and are included in the total weighted average of ordinary outstanding shares for diluted earnings per share ("EPS") if the effects are considered dilutive. The antidilutive instruments not considered in the weighted number of shares correspond to the total number of shares that could be converted into ordinary shares that would be issued on conversion of those instruments. Instruments are considered antidilutive if the average market value of ordinary shares during the period is less than the average value of the assumed proceeds (fair value of services that will be recognized as a cost in future periods plus exercise price multiplied by the number of options and shares to be issued on exercise of the options).

10. SHARE-BASED PAYMENTS

Share-settled awards

The Group's employee incentives include share settled awards in the form of stock, offering them the opportunity to purchase ordinary shares by exercising options (SOPs), receiving ordinary shares (RSUs) upon vesting, and receiving shares upon the achievement of market conditions and passage of time ("Awards").

The cost of the employee services received with respect to those share-based compensation payments is recognized in the statements of income over the period that the employee provides services and according to the vesting conditions. The Group also issued Awards in 2020 that grant shares upon the achievement of market conditions related to the valuation of the Company. RSUs incentive was implemented in 2020 and is the main incentive since then.

The terms and conditions of the RSUs plans require the Group to withhold shares from the settlement to its employees to settle the employee's tax obligation. Accordingly, the Group settles the transaction on a net basis by withholding the number of shares with a fair value equal to the monetary value of the employee's tax obligation and issues the remaining shares to the employee on the vesting date. The employee's tax obligation associated with the RSUs is calculated substantially based on the expected employee's personal tax rate and the fair value of the shares on the vesting date. In addition, for the countries where the Group is required to pay taxes and social security taxes over vested RSUs, the Group recognizes expenses related to corporate and social security taxes on the applicable awards, calculated mainly by applying the tax rates to the fair value of the ordinary shares at the reporting dates, and presents them as "Share-based compensation" between "Customer support and operations", "General and administrative expenses" and "Marketing expenses" in the consolidated statements of income.

There were no changes to the terms and conditions of the SOPs and RSUs after the grant date. The changes in the number of SOPs and RSUs are as follows. WAEP is the weighted average exercise price and WAGDFV is the weighted average fair value at the grant date.

SOPs

03/31/2026

WAEP (US$)

03/31/2025

WAEP (US$)

Outstanding on January 1

21,819,196

1.80

35,937,918

1.58

Exercised during the period

(492,595)

2.41

(827,509)

1.35

Forfeited during the period

(5,938)

Outstanding on March 31

21,326,601

1.81

35,104,471

1.60

Exercisable on March 31

21,326,601

1.81

35,086,854

1.60

‌RSUs 03/31/2026 WAGDFV (US$) 03/31/2025 WAGDFV (US$)

Outstanding on January 1

53,088,414

10.54

59,915,454

7.92

Granted during the period

27,324,449

15.14

20,711,430

10.83

Vested during the period

(7,830,948)

8.46

(6,609,898)

5.89

Forfeited during the period

(1,686,801)

(1,371,191)

Outstanding on March 31

70,895,114

12.53

72,645,795

8.83

The following tables present the total amount of share-based compensation expense for the three-month period ended March 31, 2026 and 2025 and the provision for taxes as of March 31, 2026 and December 31, 2025.

Three-month period ended

03/31/2026

03/31/2025

SOP and RSU expenses and associated corporate and social security taxes expenses

74,469

72,988

RSUs and SOPs grant - business combination

427

1,192

Awards expenses and related taxes

1,312

Fair value adjustment - hedge of foreign exchange rate

Fair value adjustment - hedge of corporate and social security taxes (note 20)

7,512

(1,397)

Total share-based compensation expenses (note 8)

82,408

74,095

Equity share-based compensation, net of shares withheld for employee taxes

57,418

55,714

03/31/2026

12/31/2025

Liability provision for taxes presented as salaries, allowances and social security contributions

89,730

109,855

11. CASH AND CASH EQUIVALENTS

03/31/2026

12/31/2025

Deposits at central banks

7,212,848

8,640,241

Reverse repurchase agreements

3,747,343

3,611,526

Bank balances

2,492,822

2,098,976

Short-term investments

467,419

652,900

Total

13,920,432

15,003,643

Cash and cash equivalents are held to meet short-term cash needs and include deposits with banks and other short-term highly liquid investments with original maturities of three-months or less and with an immaterial risk of change in value.

Deposits at central banks are deposits made by the Brazilian, Colombian and Mexican subsidiaries at the local central banks. In Brazil, the average rate of remuneration was 100.0% of the Brazilian CDI rate (Interbank Reference Rate - Certificado de Depósito Interbancário) as of March 31, 2026 and December 31, 2025, with daily maturity. In Colombia and Mexico, deposits held at the local central bank are not remunerated.

Reverse repurchase agreements are mainly in Mexican pesos, using government bonds as collateral. The agreements are executed overnight with an average fixed rate of 7.0% per year as of March 31, 2026 (8.3% per year as of December 31, 2025).

Short-term investments are mainly in U.S. dollars and remunerated by a fixed-rate index averaging 3.6% per year as of March 31, 2026 and December 31, 2025.

SECURITIES

Financial instruments at fair value through profit and loss ("FVTPL")

03/31/2026 12/31/2025

Maturities

Financial instruments at FVTPL

Gross Book Value (i)

Fair Value No maturity Up to

12 months

Over 12 months

Fair Value

Government bonds (ii)

Latin America

230,545

230,779

9,473

221,306

175,302

Total government bonds

230,545

230,779

9,473

221,306

175,302

Corporate bonds and other instruments

Bill of credit (LC)

Certificate of bank deposits

3,825

3,817

2,617

1,200

5,241

Real estate and agribusiness letter of credit

1,619

1,623

1,381

242

606

Corporate bonds and debentures

3,585

3,580

3,249

Equity instruments (iii)

22,402

27,152

27,120

Investment funds

89,114

29,517

Notes

800,021

803,941

818,885

Total corporate bonds and other instruments

920,569

929,230

116,266

807,939

5,025

884,621

Total financial instruments at FVTPL

1,151,114

1,160,009

116,266

817,412

226,331

1,059,923

‌The Gross book value represents the gross carrying amount of the financial instruments and is defined as the sum of the principal amount and accrued interest as of the reporting date, before any deductions for impairment, provisions, or other adjustments.

Includes US$604 as of March 31, 2026 (US$557 on December 31, 2025) held by the subsidiaries for regulatory purposes, as required by the Central Bank of Brazil. The Group has opted to maintain only compulsory reserves at the Central Bank of Brazil (see note 15) to meet these regulatory requirements.

Refers mainly to an investment in Jupiter, a neobank for consumers in India and an investment in Din Global ("dBank"), a Pakistani fintech company and in Tempo Labs Inc, a North American fintech. As of March 31, 2026, the total fair value of these investments corresponded to US$25,961 (US$26,700 on December 31, 2025), classified as level 3 in the fair value hierarchy, as described in note 29.

03/31/2026 12/31/2025

Amounts in Amounts in

Financial instruments at FVTPL Original

Currency

US$ Original Currency

US$

Currency:

Brazilian Reais

1,710,118

330,107

1,177,913

214,337

U.S. Dollars

816,441

831,385

Others (i)

1,276,256

13,461

1,260,835

14,200

Total

1,160,009

1,059,923

(i) Refers mainly to an investment in Jupiter, a neobank for consumers in India.

Financial instruments at fair value through other comprehensive income ("FVTOCI")

03/31/2026 12/31/2025

Maturities

Financial instruments at FVTOCI Gross Book Value (i)

Fair Value No maturity Up to

12 months

Over 12 months

Fair Value

Government bonds (ii)

Latin America

10,735,648

10,757,929

1,263,238

9,494,691

11,525,845

Total government bonds

10,735,648

10,757,929

1,263,238

9,494,691

11,525,845

Corporate bonds and other instruments

Certificate of bank deposits

244,525

242,105

51,902

190,203

211,471

Corporate bonds and debentures

147,022

121,385

47,864

73,521

183,143

Investment funds

43,853

44,308

41,600

Time deposits

197,834

197,812

187,683

Real estate and agribusiness certificate of receivables

3,571

3,579

7,334

Total corporate bonds and other instruments

636,805

609,189

44,308

297,578

267,303

631,231

Total financial instruments at FVTOCI

11,372,453

11,367,118

44,308

1,560,816

9,761,994

12,157,076

The Gross book value represents the gross carrying amount of the financial instruments and is defined as the sum of the principal amount and accrued interest as of the reporting date, before any deductions for impairment, provisions, or other adjustments.

Includes US$96,516 as of March 31, 2026 (US$0 on December 31, 2025) held by the subsidiaries for regulatory purposes, as required by the Central Bank of Brazil. The Group has opted to maintain only compulsory reserves at the Central Bank of Brazil (see note 15) to meet these regulatory requirements. It also includes government and time deposits securities margins pledged by the Group for transactions on the stock exchange in the amount of US$415,651 as of March 31, 2026 (US$297,274 on December 31, 2025). Government bonds are classified as Level 1 in the fair value hierarchy, as described in note 29.

03/31/2026 12/31/2025

Amounts in Amounts in

Financial instruments at FVTOCI Original

Currency

US$ Original Currency

US$

Currency:

Brazilian Reais

51,745,962

9,988,605

58,240,612

10,597,681

U.S. Dollars

197,812

187,683

Mexican Pesos

7,381,488

411,518

4,003,565

222,321

Colombian Pesos

2,825,364,257

769,183

4,338,625,279

1,149,390

Total

11,367,118

12,157,076

The Group has corporate bonds and debentures classified as FVTOCI, for which it has recorded an ECL movement for three-month period ended March 31, 2026, in the amount of US$1,086 (US$ 129 on March 31, 2025).

The following table shows reconciliations from the opening to the closing balance of the expected credit loss by the stages during the three-month period ended on March 31, 2026. There was no transfer between stages during the three-month period ended on March 31, 2025, and all the exposure was classified as Stage 1.

03/31/2026

Stage 1 Stage 2 Stage 3 Total

Loss allowance of financial assets at FVTOCI at beginning of period

1,324

24,452

25,776

Net increase of loss allowance

(202)

(884)

(1,086)

Other movements, primarily net drawdowns/repayments and net remeasurement from movements between stages and between risk bands within each stage

(202)

(884)

(1,086)

Effect of changes in exchange rates (OCI)

5,215

5,303

Loss allowance of financial assets at FVTOCI at end of the period

1,210

28,783

29,993

‌Financial instruments at amortized cost

03/31/2026 12/31/2025

Maturities

Financial instruments at amortized cost Carrying

amount

Up to 12 months

Over 12 months

Carrying amount

Government bonds (i)

Latin America (ii)

1,611,539

1,530,050

81,489

1,089,695

Europe

938,915

828,094

110,821

1,053,194

Asia-Pacific

819,118

525,990

293,128

958,248

Total government bonds

3,369,572

2,884,134

485,438

3,101,137

Corporate bonds and other instruments

Corporate bonds and debentures

40,367

Total corporate bonds and other instruments

40,367

Total financial instruments at amortized cost

3,369,572

2,884,134

485,438

3,141,504

As of March 31, 2026, includes US$358,184 (US$899,809 on December 31, 2025) held by the subsidiaries as guarantee pledged to the margin loan, see details in note 24.

Carrying amount of the Latin America government bonds comprises the amortized cost (principal plus accrued interest) adjusted for fair value hedge basis adjustments related to hedged interest rate risk. See note 20.

03/31/2026 12/31/2025

Amounts in Amounts in

Financial instruments at amortized cost Original

Currency

US$ Original Currency

US$

Currency:

Mexican Pesos

19,859,024

1,107,142

11,830,793

656,974

Brazilian Reais

9,107,487

1,758,032

11,275,922

2,051,809

Colombian Pesos

1,852,753,409

504,398

1,633,400,166

432,721

Total

3,369,572

3,141,504

The Group has recorded a reversal of ECL in the amount of US$243 as of March 31, 2026 (constitution of US$855 as of December 31, 2025) and the exposure was classified as Stage 1. There was no transfer between stages during the three-month period ended on March 31, 2026 and 2025.

13. CREDIT CARD RECEIVABLES

03/31/2026

12/31/2025

Credit card receivables

24,301,844

21,751,226

Credit card expected credit loss

Presented as deduction of receivables

(4,114,626)

(3,483,322)

Presented as "Other liabilities" (note 27)

(51,045)

(44,679)

Total credit card expected credit loss

(4,165,671)

(3,528,001)

Receivables, net

20,136,173

18,223,225

Total receivables presented as assets

20,187,218

18,267,904

a) Breakdown by maturity

03/31/2026

12/31/2025

Amount

Receivables due in:

Up to 30 days

9,335,300

38.4%

8,553,402

39.3%

30 to 60 days

3,968,839

16.3%

3,643,369

16.8%

60 to 90 days

2,472,273

10.2%

2,179,330

10.0%

Over 90 days

5,711,050

23.5%

5,000,481

22.9%

Total receivables not overdue

21,487,462

88.4%

19,376,582

89.0%

Receivables overdue by:

Up to 30 days

772,416

3.2%

584,397

2.7%

30 to 60 days

319,606

1.3%

252,171

1.2%

60 to 90 days

268,440

1.1%

214,144

1.0%

Over 90 days

1,453,920

6.0%

1,323,932

6.1%

Total receivables overdue

2,814,382

11.6%

2,374,644

11.0%

Total

24,301,844

100.0%

21,751,226

100.0%

Receivables not yet due consist mainly of current receivables and future bill installments ("parcelado") and receivables overdue consist mainly of late balances.

‌Expected credit loss - by stages

As of March 31, 2026, the credit card ECL totaled US$4,165,671 (US$3,528,001 as of December 31, 2025). The provision is estimated using consistently applied modeling techniques, and is sensitive to the methods, assumptions, and risk parameters underlying its calculation.

The amount that the expected credit loss represents in comparison to the Group's gross receivables (the coverage ratio) is also monitored to anticipate trends that could indicate credit risk increases. This metric is considered a key risk indicator and it is monitored across multiple committees, supporting the decision-making process and is discussed in the Group's credit forums.

The explanation of each stage is set out in the Company's accounting policies, as disclosed in the Annual Financial Statements.

03/31/2026 12/31/2025

Gross Exposures

% Expected credit loss

% Coverage Ratio (%)

Gross Exposures

% Expected credit loss

% Coverage Ratio (%)

Stage 1

19,334,666

79.5%

1,140,728

27.3%

5.9%

17,593,016

80.8%

966,831

27.4%

5.5%

Stage 2

2,794,153

11.5%

1,161,295

27.9%

41.6%

2,179,810

10.1%

856,689

24.3%

39.3%

Absolute Trigger (Days late)

715,297

25.6%

448,915

38.7%

62.8%

528,694

24.3%

327,470

38.2%

61.9%

Relative Trigger (PD deterioration)

2,078,856

74.4%

712,380

61.3%

34.3%

1,651,116

75.7%

529,219

61.8%

32.1%

Stage 3

2,173,025

9.0%

1,863,648

44.8%

85.8%

1,978,400

9.1%

1,704,481

48.3%

86.2%

Total 24,301,844 100.0%

c) Expected credit loss - by credit quality vs. stages

Gross %

Exposures

4,165,671 100.0%

03/31/2026

Expected % credit loss

17.1%

Coverage Ratio (%)

21,751,226 100.0%

Gross %

Exposures

3,528,001 100.0%

12/31/2025

Expected % credit loss

16.2%

Coverage Ratio (%)

Strong (PD < 5%)

10,677,918

43.9%

228,284

5.5%

2.1%

10,012,573

46.0%

204,331

5.8%

2.0%

Stage 1

10,677,533

99.9%

228,273

100.0%

2.1%

10,012,568

100.0%

204,331

100.0%

2.0%

Stage 2

385

0.1 %

2.9 %

Satisfactory 7,659,617 31.5%

(5% <= PD <= 20%)

677,342

16.3%

8.8%

6,766,135

31.1%

574,635

16.3%

8.8%

Stage 1

7,396,106

96.6%

654,164

96.5%

8.8%

6,517,743

96.3%

553,357

96.2%

8.5%

Stage 2

263,511

3.4%

23,178

3.5%

8.8%

248,392

3.7%

21,278

3.8%

8.6%

Higher Risk (PD > 20%) 5,964,309 24.6%

3,260,045

78.2%

54.7%

4,972,518

22.9%

2,749,035

77.9%

55.3%

Stage 1

1,261,027

21.2%

258,291

7.9%

20.5%

1,062,705

21.4%

209,143

7.6%

19.7%

Stage 2

2,530,257

42.4%

1,138,106

34.9%

45.0%

1,931,413

38.8%

835,411

30.4%

43.3%

Stage 3

2,173,025

36.4%

1,863,648

57.2%

85.8%

1,978,400

39.8%

1,704,481

62.0%

86.2%

Total

24,301,844

100.0%

4,165,671

100.0%

17.1%

21,751,226

100.0%

3,528,001

100.0%

16.2%

d) Expected credit loss - changes

The following tables show the reconciliations from the opening to the closing balance of the expected credit loss by stages of the financial instruments.

03/31/2026

03/31/2025

Stage 1

Stage 2 Stage 3

Total

Stage 1

Stage 2 Stage 3

Total

Expected credit loss at beginning of period

966,831

856,689

1,704,481

3,528,001

670,984

445,996

1,272,546

2,389,526

Transfers from Stage 1 to Stage 2

(120,828)

120,828

(113,938)

113,938

Transfers from Stage 2 to Stage 1

151,671

(151,671)

108,795

(108,795)

Transfers to Stage 3

(9,297)

(402,580)

411,877

(30,870)

(270,641)

301,511

Transfers from Stage 3

26,045

12,686

(38,731)

22,086

8,012

(30,098)

Write-offs

(624,275)

(451,780)

Net increase of loss allowance (note 7)

76,899

675,131

308,624

1,060,654

15,504

435,505

189,551

640,560

New originations (a)

27,675

2,820

287

30,782

26,896

2,314

344

29,554

Changes in exposure of preexisting accounts (b)

275,189

(3,965)

(4,764)

266,460

119,853

(106)

(294)

119,452

Other movements, primarily net drawdowns/ repayments and net remeasurement from movements between stages and between risk bands within each stage

(225,105)

688,080

320,500

783,475

(67,337)

372,526

183,386

488,574

Changes to models used in calculation (c)

(860)

(11,804)

(7,399)

(20,063)

(63,908)

60,771

6,115

2,978

Effect of changes in exchange rates (OCI)

49,407

50,212

101,672

201,291

47,118

36,647

101,253

185,018

Expected credit loss at end of the period

1,140,728

1,161,295

1,863,648

4,165,671

719,679

660,662

1,382,983

2,763,324

The "Net increase of loss allowance" is distributed considering the stages at the end of the period, except in (c), which is calculated considering the stages at the beginning of the year.

Considers all accounts originated from the beginning to the end of the period. ECL effects presented in the table were calculated as if risk parameters at the beginning of the period were applied.

‌Reflects the movements in exposure (both drawdown and undrawn limits) of accounts that existed in the beginning of the period. ECL effects were calculated as if risk parameters of the exposures at the beginning of the period were applied.

Changes to models that occurred during the period include, primarily, the calibration of ECL parameters to reflect more recent risk and recovery data, the changes in the Company's underwriting policies and in the collections strategies.

The following tables present changes in the gross carrying amount of the credit card portfolio to demonstrate the effects of the changes in the loss allowance for the same portfolio as presented above. "Net change of gross carrying amount" includes drawdown, payments, and interest accruals.

03/31/2026

03/31/2025

Stage 1

Stage 2 Stage 3

Total

Stage 1

Stage 2 Stage 3

Total

Gross carrying amount at beginning of period

17,593,016

2,179,810

1,978,400

21,751,226

11,849,086

1,377,896

1,392,330

14,619,312

Transfers from Stage 1 to Stage 2

(1,211,717)

1,211,717

(1,135,768)

1,135,768

Transfers from Stage 2 to Stage 1

515,129

(515,129)

684,862

(684,862)

Transfers to Stage 3

(62,556)

(687,760)

750,316

(98,935)

(405,081)

504,016

Transfers from Stage 3

35,695

16,307

(52,002)

26,827

9,462

(36,289)

Write-offs

(624,275)

(451,780

Net change of gross carrying amount

1,475,193

458,746

3,001

1,936,940

744,765

216,457

(4,304)

956,918

Effect of changes in exchange rates (OCI)

989,906

130,462

117,585

1,237,953

919,195

113,748

111,761

1,144,704

Gross carrying amount at end of the period

19,334,666

2,794,153

2,173,025

24,301,844

12,990,032

1,763,388

1,967,514

16,720,934

14. LOANS TO CUSTOMERS

03/31/2026

12/31/2025

Loans to individuals

11,961,716

10,149,892

Loans to companies

942,623

765,561

Total loans (i)

12,904,339

10,915,453

Loan expected credit loss

(1,935,573)

(1,493,995)

Total

10,968,766

9,421,458

(i) As of March 31, 2026, the total gross amount of secured loans was US$3,019,027 (US$2,734,565 as of December 31, 2025).

Breakdown by maturity

The following table shows loans to customers by maturity on March 31, 2026, and December 31, 2025, considering each installment individually.

03/31/2026

12/31/2025

Amount

Loans to customers due in:

Up to 30 days

1,443,807

11.2%

1,194,270

10.9%

30 to 60 days

1,234,794

9.6%

1,005,890

9.2%

60 to 90 days

1,128,803

8.7%

1,066,604

9.8%

90 to 360 days

5,045,408

39.1%

4,154,984

38.1%

Over 360

3,447,135

26.7%

3,019,996

27.7%

Total loans to customers not overdue

12,299,947

95.3%

10,441,744

95.7%

Loans to customers overdue by:

Up to 30 days

209,733

1.6%

156,542

1.4%

30 to 60 days

106,003

0.9%

77,632

0.7%

60 to 90 days

76,092

0.6%

63,641

0.6%

Over 90 days

212,564

1.6%

175,894

1.6%

Total loans to customers overdue

604,392

4.7%

473,709

4.3%

Total

12,904,339

100.0%

10,915,453

100.0%

Expected credit loss - by stages

As of March 31, 2026, the loans to customers ECL totaled US$1,935,573 (US$1,493,995 as of December 31, 2025). The provision is estimated using consistently applied modeling techniques, which is sensitive to the methods, assumptions, and risk parameters underlying its calculation.

The amount that the expected credit loss represents in comparison to the Group's gross receivables (the coverage ratio) is also monitored to anticipate trends that could indicate credit risk increases. This metric is considered a key risk indicator, is monitored across multiple committees, supporting the decision-making process and is discussed in the Group's credit forums.

‌The explanation of each stage is set out in the Company's accounting policies, as disclosed in the Annual Financial Statements.

03/31/2026 12/31/2025

Gross Exposures

% Expected credit loss

% Coverage Ratio (%)

Gross Exposures

% Expected credit loss

% Coverage Ratio (%)

Stage 1

10,102,515

78.3%

575,865

29.8%

5.7%

8,708,434

79.8%

467,616

31.3%

5.4%

Stage 2

1,985,509

15.4%

800,200

41.3%

40.3%

1,527,444

14.0%

569,485

38.1%

37.3%

Absolute Trigger (Days late)

404,672

20.4%

330,571

41.3%

81.7%

307,423

20.1%

247,143

43.4%

80.4%

Relative Trigger (PD deterioration)

1,580,837

79.6%

469,629

58.7%

29.7%

1,220,021

79.9%

322,342

56.6%

26.4%

Stage 3

816,315

6.3%

559,508

28.9%

68.5%

679,575

6.2%

456,894

30.6%

67.2%

Total

12,904,339

100.0%

1,935,573

100.0%

15.0%

10,915,453

100.0%

1,493,995

100.0%

13.7%

Expected credit loss - by credit quality vs stages

03/31/2026 12/31/2025

Gross Exposures

% Expected credit loss

% Coverage Ratio (%)

Gross Exposures

% Expected credit loss

% Coverage Ratio (%)

Strong (PD < 5%)

3,882,935

30.1%

48,389

2.5%

1.2%

3,401,763

31.2%

41,731

2.8%

1.2%

Stage 1

3,838,206

98.8%

48,169

99.5%

1.3%

3,357,159

98.7%

41,546

99.6%

1.2%

Stage 2

44,729

1.2%

220

0.5%

44,604

1.3%

185

0.4%

Satisfactory

(5% <= PD <= 20%)

4,372,076

33.9%

247,085

12.8%

5.7%

3,756,036

34.4%

206,811

13.8%

5.5%

Stage 1

4,272,404

97.7%

243,009

98.4%

5.7%

3,683,259

98.1%

203,933

98.6%

5.5%

Stage 2

99,672

2.3%

4,076

1.6%

4.1%

72,777

1.9%

2,878

1.4%

4.0%

Higher Risk (PD > 20%)

4,649,328

36.0%

1,640,099

84.7%

35.3%

3,757,654

34.4%

1,245,453

83.4%

33.1%

Stage 1

1,991,905

42.8%

284,687

17.4%

14.3%

1,668,016

44.4%

222,137

17.8%

13.3%

Stage 2

1,841,108

39.6%

795,904

48.5%

43.2%

1,410,063

37.5%

566,422

45.5%

40.2%

Stage 3

816,315

17.6%

559,508

34.1%

68.5%

679,575

18.1%

456,894

36.7%

67.2%

Total

12,904,339

100.0%

1,935,573

100.0%

15.0%

10,915,453

100.0%

1,493,995

100.0%

13.7%

Expected credit loss - changes

The following tables show reconciliations from the opening to the closing balance of the expected credit loss by the stages of the financial instruments.

03/31/2026

03/31/2025

Stage 1

Stage 2 Stage 3

Total

Stage 1

Stage 2 Stage 3

Total

Expected credit loss at beginning of period

467,616

569,485

456,894

1,493,995

239,306

325,020

230,244

794,570

Transfers from Stage 1 to Stage 2

(79,330)

79,330

(53,683)

53,683

Transfers from Stage 2 to Stage 1

85,940

(85,940)

69,204

(69,204)

Transfers to Stage 3

(9,398)

(351,453)

360,851

(24,333)

(205,921)

230,254

Transfers from Stage 3

15,507

19,476

(34,983)

13,098

16,890

(29,988)

Write-offs

(457,653)

(259,478)

Net increase of loss allowance (note 7)

68,260

532,682

206,942

807,884

12,706

312,405

108,554

433,665

New originations (a)

528,646

68,715

479

597,840

342,995

48,260

418

391,673

Other movements, primarily net drawdowns/ repayments and net remeasurement from movements between stages and between risk bands within each stage

(460,386)

463,967

206,463

210,044

(356,024)

259,651

141,426

45,053

Changes to models used in calculation (b)

25,735

4,494

(33,290)

(3,061)

Effect of changes in exchange rates (OCI)

27,270

36,620

27,457

91,347

19,085

28,339

19,223

66,647

Expected credit loss at end of the period

575,865

800,200

559,508

1,935,573

275,383

461,212

298,809

1,035,404

The "Net increase of loss allowance" is distributed considering the stages at the end of the period, except in (b), which is calculated considering the stages at the beginning of the period.

Considers all accounts originated from the beginning to the end of the period. ECL effects presented in the table were calculated as if risk parameters at the beginning of the period were applied.

The following tables present changes in the gross carrying amount of the loan portfolio to demonstrate the effects of the changes in the loss allowance for the same portfolio as discussed above. "Net change of gross carrying amount" includes drawdowns, payments, and interest accruals.

‌03/31/2026

03/31/2025

Stage 1

Stage 2 Stage 3

Total

Stage 1

Stage 2 Stage 3

Total

Gross carrying amount at beginning of the period

8,708,434

1,527,444

679,575

10,915,453

4,728,358

1,054,416

333,681

6,116,455

Transfers from Stage 1 to Stage 2

(874,628)

874,628

(625,580)

625,580

Transfers from Stage 2 to Stage 1

480,865

(480,865)

512,896

(512,896)

Transfers to Stage 3

(52,763)

(491,658)

544,421

(81,399)

(298,755)

380,154

Transfers from Stage 3

19,625

25,028

(44,653)

16,453

27,536

(43,989)

Write-offs

(457,653)

(259,478)

Net increase of gross carrying amount

1,294,474

433,767

53,378

1,781,619

1,146,218

303,532

16,365

1,466,115

Effect of changes in exchange rates (OCI)

526,508

97,165

41,247

664,920

406,052

89,697

29,219

524,968

Gross carrying amount at end of the period

10,102,515

1,985,509

816,315

12,904,339

6,102,998

1,289,110

455,952

7,848,060

15. COMPULSORY AND OTHER DEPOSITS AT CENTRAL BANKS

03/31/2026

12/31/2025

Compulsory deposits (i)

6,003,601

5,687,184

Reserve at central bank - Instant payments (ii)

3,192,396

3,850,604

Total

9,195,997

9,537,788

Compulsory deposits are required by local central banks based on the amount of RDB and CDB held by Nu Financeira and deposits from customers held by Nu Colombia. These resources are remunerated in Brazil by the Brazilian SELIC rate (special settlement and custody system of the BACEN) and for Colombia the compulsory deposits are not remunerated.

Reserve at central bank - Instant payments relates to cash maintained in the instant payments account, which is required by BACEN to support instant payment operations, including additional funds as a safety margin. These resources are remunerated at the Brazilian SELIC rate. It also includes amount related to the guarantee margin for electronic money deposit.

16. OTHER RECEIVABLES

03/31/2026

12/31/2025

Other receivables

838,276

1,002,629

Other receivables - ECL

(9,084)

(1,946)

Total

829,192

1,000,683

Other receivables are primarily related to credit card receivables acquired from merchant acquirers which are due from credit card issuers (mainly banks and other financial institutions), and measured initially at fair value. Additionally, other receivables are used as underlying collateral in repurchase agreement transactions, as mentioned in note 21. The balance also includes receivables related to the agreement with Mastercard, including incentive mechanisms linked to prepaid and credit card transaction volume performance and other performance obligations.

As of December 31, 2025, the total amount of the Group's exposure was classified as Stage 1 Strong (PD < 5%). As of March 31, 2026, additional other receivables were recognized and classified predominantly in Stage 3 (PD = 100%) at initial recognition, while the remaining balance of the portfolio continued to be classified as Stage 1 Strong (PD < 5%). No transfers between stages occurred during three-month period ended March 31, 2026 and 2025.

All receivables are classified in stages. The explanation of each stage is set out in the Company's accounting policies, as disclosed in the Annual Financial Statements.

17. OTHER ASSETS

03/31/2026

12/31/2025

Taxes recoverable (i)

844,231

748,785

Deferred expenses (ii)

342,993

329,136

Advances to suppliers and employees

88,033

112,634

Prepaid expenses (iii)

95,351

92,738

Judicial deposits

7,713

6,614

Other assets (iv)

307,521

113,963

Total

1,685,842

1,403,870

Taxes recoverable refer to tax overpayments and contributions as well as tax credits on costs and expenses eligible for future offsets or refunds.

Deferred expenses refer to credit card issuance costs, including printing, packing, and shipping costs, among others. The expenses are amortized based on the card's estimated useful life methodology, adjusted for any cancellations.

Prepaid expenses refer to invoices related to the cloud savings plan, in accordance with the supplier contract.

Other assets include US$194,715 of advances to the Brazilian Credit Guarantee Fund ("FGC") as of March 31, 2026 (US$0 as of December 31, 2025). The advance was made pursuant to an emergency recapitalization plan approved by the FGC's Board in February 2026, which requires member institutions to advance contributions over a multi-year period.

‌INVESTMENTS IN ASSOCIATES

Three-month period ended

03/31/2026 03/31/2026

Company

Equity interest

Shareholding interest with voting rights (ii)

Investment Current assets

Non-current assets

Current liabilities

Share of loss in associates

Associates net income (loss) for the period

Tyme (i) 18.0 % - 97,667 91,116 340,077 13,671 (1,035) (5,751)

Three-month period ended

12/31/2025 03/31/2025

Company Equity interest

Shareholding interest with voting rights (ii)

Investment Current assets

Non-current assets

Current liabilities

Share of loss in associates

Associates net income (loss) for the period

Tyme (i) 18.0 % - 98,702 101,962 325,856 13,536 (1,130) (4,846)

Tyme Group Pte. Ltd. ("Tyme") is the holding company which has investments in Tyme Bank Holdings (South Africa operation) and Tyme Investments (Southeast Asia operation) (collectively referred to as "Tyme Group").

Nu has no voting rights, but all Series D preferred shares acquired by the Group may be converted into shares with voting rights at any time at Nu's election.

The total investment in Tyme Group was US$153,026, as of both March 31, 2026 and December 31, 2025, of which US$102,391 related to investments in associates. The remainder related to derivatives, including call options and warrants recorded at fair value, which enable Nu to acquire additional equity interest in the future. The derivatives are presented in note 20. During the three-month period ended March 31, 2026 Nu recognized a loss from associates of US$1,035, compared with a loss from associates of US$1,130 during three-month period ended March 31, 2025.

INTANGIBLES ASSETS AND GOODWILL

Composition of intangible assets and goodwill

Intangible assets

03/31/2026 12/31/2025

Cost Accumulated amortization

Net value Cost Accumulated amortization

Net value

Intangibles related to business acquisitions

138,339

(82,951)

55,388

138,280

(78,967)

59,313

Internally developed intangibles

720,122

(151,679)

568,443

615,295

(123,344)

491,951

Other intangibles

104,892

(28,531)

76,361

77,260

(26,855)

50,405

Total

963,353

(263,161)

700,192

830,835

(229,166)

601,669

Goodwill

03/31/2026 12/31/2025

Goodwill

Acquisition of Nu Investimentos 348,276 348,276

Other acquisitions 61,095 61,095

Total 409,371 409,371

Changes on intangibles assets and goodwill

Intangibles

03/31/2026

Intangible assets

Internally

Goodwill

related to

business acquisitions

developed intangibles

Other

intangibles

Total

intangibles

Balance at beginning of the period

409,371

59,313

491,951

50,405

601,669

Additions

83,843

28,262

112,105

Disposals

(12,748)

(58)

(12,806)

Amortization

(1,579)

(22,611)

(1,975)

(26,165)

Effect of changes in exchange rates (OCI)

(2,346)

28,008

(273)

25,389

Balance at end of the period

409,371

55,388

568,443

76,361

700,192

‌Intangibles

03/31/2025

Intangible assets

Internally

Goodwill

related to

business acquisitions

developed intangibles

Other

intangibles

Total

intangibles

Balance at beginning of the period

414,287

78,613

259,847

9,156

347,616

Additions

47,166

44,106

91,272

Disposals

(172)

Amortization

(3,312)

(12,212)

(1,084)

(16,608)

Effect of changes in exchange rates (OCI)

(5,470)

(2,442)

21,192

(1,022)

17,728

Balance at end of the period

408,817

72,859

315,821

51,156

439,836

20. DERIVATIVES

The Group executes transactions with derivative financial instruments, which are intended, in their majority, to meet its own needs to reduce its exposure to market, currency and interest-rate risks. These instruments include, among others, Non-Deliverable Forwards ("NDFs"), options, swaps, and futures.

The derivatives are measured at fair value through profit or loss, except for those designated in cash flow and net investment hedge strategies, for which the effective portion of gains or losses is recognized in other comprehensive income. For derivatives designated in fair value hedge strategies, changes in the fair value of both the hedging instrument and the hedged item attributable to the hedged risk are recognized in the statements of income. These risks are managed through the establishments of limits, and operating strategies.

The Group applies hedge accounting to: (i) hedge the interest rate risk of certain government bonds, converting fixed-rate returns into floating rates through interest rate derivatives (fair value hedge); (ii) hedge the foreign currency risk arising from forecast transactions related to cloud infrastructure, intercompany transactions and certain software licenses, designated as (cash flow hedge); (iii) hedge future cash disbursements related to highly probable future transactions and accrued liabilities for corporate and social security taxes arising from RSU vesting or SOP exercise, designated as cash flow hedge and (iv) hedge the foreign currency risk arising from a designated portion of the Group's net investment in its Brazilian operations, designated as net investment hedge, as shown below.

Derivative instruments are presented within Financial assets at fair value through profit or loss and Financial liabilities at fair value through profit or loss in the statement of financial position. The hedged items in the fair value hedge of interest rate risk are presented within Financial assets at fair value through other comprehensive income and Financial assets at amortized cost (note 12).

Hedge ineffectiveness and gains and losses on derivatives measured at fair value through profit or loss are recognized within Interest income and gains net of losses - financial instruments at fair value (note 6).

The effective portion of cash flow hedges is recognized within the cash flow hedge reserve, and the effective portion of the net investment hedge is recognized within the net investment hedge reserve, both presented in the statement of changes in equity. Reclassifications from the cash flow and net investment hedge reserve are presented in the line items disclosed in the tables below.

03/31/2026 12/31/2025

Fair values Fair values

Notional amount

Assets Liabilities Notional

amount

Assets Liabilities

Derivatives classified at fair value through profit or loss

Interest rate contracts - Futures

14,855

131

13,651

Foreign currency exchange rate contracts - Futures

2,025,385

9,018

2,087,756

288

13,259

Interest rate contracts - Swaps

3,552

146

3,348

Exchange rate contracts - Swaps

2,401,829

61,921

49,651

1,376,130

4,444

43,715

Foreign currency exchange rate contracts

- Non-deliverable forwards (NDFs)

579,941

1,156

1,905

299,542

20,994

2,081

Warrants

23,709

20,437

23,699

18,898

Call options

27,000

14,848

27,000

15,639

Forward contracts

274,085

Derivatives held for hedging

Designated as cash flow hedge

Foreign currency exchange rate contracts - Futures

242,660

2,422

256,047

4,162

Equity - Total return swaps (TRS)

67,775

650

2,276

83,679

4,009

2,747

Designated as fair value hedge

Interest rate contracts - Swaps

584,010

12,948

1,079,382

16,471

Designated as net investments hedge

Foreign currency exchange rate contracts

- Non-deliverable forwards (NDFs)

1,794,586

5,889

Total

8,039,387

386,302

345,443

5,250,234

80,748

65,969

Futures contracts are traded on the B3 (Brasil, Bolsa e Balcão), a stock exchange in Brazil, as the counterparty and are settled on a daily basis. The total value of margins pledged by the Group in transactions on the stock exchange is presented in note 12.

Exchange rate contracts swaps are settled at the maturity date, are traded over the counter with financial institutions as counterparties and are used to hedge mainly foreign currency exposure on financial assets.

Interest rate swaps contracts are settled at the maturity date and are traded over the counter with financial institutions as counterparties.

‌Total Return Swaps ("TRS") contracts are settled only at maturity and are traded over the counter with financial institutions as counterparties.

Non-deliverable forwards ("NDFs") designated as net investment hedges are traded over the counter with financial institutions as counterparties and are settled at the maturity date.

The Group holds call options received as part of the consideration for the Group's strategic investment in Tyme. The instruments are measured at fair value through profit or loss and provide the Group with the right to acquire additional ownership interests directly from existing Tyme shareholders.

Warrants are derivative instruments linked to equity interests in strategic investments held by the Group, and are measured at fair value through profit or loss.

Breakdown by maturity

The table below shows the breakdown by maturity of the notional amounts:

03/31/2026 12/31/2025

Up to 3 months

3 to 12 months

Over 12 months

Total Up to 3 months

3 to 12 months

Over 12 months

Total

Interest rate contracts - Futures

14,855

- - 13,651

13,651

Foreign currency exchange rate contracts - Futures

2,268,045

2,343,803 - -

2,343,803

Interest rate contracts - Swaps

146,323

273,852

167,387

587,562

412,681 384,567 285,482

1,082,730

Exchange rate contracts - Swaps

529,745

1,625,674

246,410

2,401,829

415,507 679,327 281,295

1,376,129

Foreign currency exchange rate contracts

- Non-deliverable forwards (NDFs)

2,374,527

126,508 173,034 -

299,542

Equity - Total return swaps (TRS)

6,573

61,202

67,775

43,127 16,287 24,266

83,680

Warrants

23,709

- - 23,699

23,699

Call options

27,000

27,000 - -

27,000

Forward contracts

274,085

- - -

Total 5,626,298 1,960,728 452,361

The table below shows the breakdown by maturity of the fair value amounts:

03/31/2026

Up to Over

12 months 12 months

8,039,387

Total

3,368,626 1,253,215 628,393

12/31/2025

Up to Over

12 months 12 months

5,250,234

Total

Assets

Interest rate contracts - Swaps

3,462

9,632

13,094

3,028 13,448

16,476

Interest rate contracts - Futures

- -

Foreign currency exchange rate contracts - Futures

111

288 -

288

Foreign currency exchange rate contracts

- Non-deliverable forwards (NDFs)

1,156

20,994 -

20,994

Exchange rate contracts - Swaps

35,810

26,111

61,921

4,444 -

4,444

Equity - Total return swaps (TRS)

650

4,009 -

4,009

Warrants

20,437

- 18,898

18,898

Call options

14,848

15,639 -

15,639

Forward contracts

274,085

- -

Total assets

330,122

56,180

386,302

48,402 32,346

80,748

Liabilities

Equity - Total return swaps (TRS) 2,276 -

2,276

2,436 311

2,747

Interest rate contracts - Swaps

- -

Interest rate contracts - Futures

131

5 -

Foreign currency exchange rate contracts - Futures

11,440

17,421 -

17,421

Foreign currency exchange rate contracts

- Non-deliverable forwards (NDFs)

7,794

2,081 -

2,081

Exchange rate contracts - Swaps

49,651

27,425 16,290

43,715

Forward contracts

274,085

- -

Total liabilities

345,443

49,368 16,601

65,969

Hedge of foreign currency risk

The Group is exposed to foreign currency risk on forecast transaction expenses, related to the cloud infrastructure, certain software licenses, and intercompany expenses. The Group manages its exposure to the variability in cash flows of foreign currency forecasted transactions to movements in foreign exchange rates by entering into foreign currency exchange rate contracts (exchange futures). These instruments are entered into to match the cash flow profile of the estimated forecast transactions and are exchange-traded with fair value movements settled on a daily basis.

The Group applies hedge accounting to the forecasted transactions related to its main cloud infrastructure contract and other expenses in foreign currency including intercompany expenses. Hedge effectiveness is assessed monthly by analyzing the critical terms. The critical terms of the hedging instrument and the amount of the forecasted hedged transactions are significantly the same. Derivatives are generally rolled over monthly. Swaps and NDFs are liquidated or settled in accordance with the specific maturity of each contract. They are expected to occur in the same fiscal month as the maturity date of the hedged item. Therefore, the hedge is expected to be effective. Subsequent assessments of effectiveness are performed by verifying and documenting whether the critical terms of the hedging instrument and the forecasted hedged transaction have changed during the period under review and whether the forecast transaction remains probable. If there are no such changes in critical terms, the Group will continue to conclude that the hedging relationship is effective. Sources of ineffectiveness are differences in the amount and timing of forecast and actual payment of expenses.

The notional amounts of the FX futures contracts are designated to match the amount of the forecasted foreign currency expenses being hedged. No hedging relationships were discontinued during the period and no forecasted transactions previously designated have ceased to be expected to occur.

‌The table below shows the change in the hedge of foreign currency risk:

Three-month

period ended

03/31/2026

03/31/2025

Balance at beginning of the period

(8,092)

11,721

Fair value change recognized in OCI during the period

(15,923)

12,434

Total amount reclassified from cash flow hedge reserve to the statements of income during the period

2,694

(34,222)

to "Customer support and operation"

848

3,524

to "General and administrative expenses"

1,966

(10,873)

to "Other expenses"

5,720

4,194

Effect of changes in exchange rates (OCI)

(5,840)

(8,912)

Deferred income taxes

4,543

4,923

Balance at end of the period

(16,778)

(5,144)

No hedge ineffectiveness was recognized in profit or loss in the periods presented. No balances remain in the cash flow hedge reserve from hedging relationships for which hedge accounting is no longer applied.

The expected future transactions that are the hedged items are:

03/31/2026

12/31/2025

Up to 3 months

3 to 12 months

Total

Expected foreign currency transactions

96,536

171,614

268,150

305,613

Total

96,536

171,614

268,150

305,613

Hedge of corporate and social security taxes over share-based compensation

The Group's hedge strategy is to cover the future cash disbursements related to highly probable future transactions and accrued liabilities for corporate and social security taxes at RSU vesting arising from the variation in the Company's share price volatility. The derivatives used to cover the exposure are total return swaps ("TRS") in which one leg is indexed to the Company's stock price and the other leg is indexed to Secured Overnight Financing Rate ("SOFR") plus a spread. The stock fixed in the TRS is the weighted average price. The hedge was entered into by Nu Holdings and therefore there is no income tax effect.

The Group applies the cash flow hedge for the hedge structure, and therefore the market risk is replaced by interest rate risk. The effectiveness assessment is performed monthly by (i) assessing the economic relationship between the hedged item and the hedging instrument; (ii) monitoring the credit risk impact in the hedge effectiveness; and (iii) maintaining and updating the hedging ratio. Given the possibility of forfeiture impacting the future cash forecasted of the employee benefit plan, the Group manages exposures to keep the hedging level within an acceptable coverage range. The derivative fair value is measured substantially based on the stock price which is also used in the measurement of the provision or payment of, corporate and social security taxes. The Group does not expect a mismatch between the hedged item and hedging instrument at maturity other than the SOFR.

The notional amount of the equity leg of the total return swaps is designated to match the share-based compensation amount expected to vest. Sources of ineffectiveness include changes in forfeiture assumptions affecting the volume of expected vesting, the SOFR leg of the TRS, and timing differences between TRS settlement dates and the cash disbursement of corporate and social security taxes. No hedging relationships were discontinued during the period and no forecasted transactions previously designated have ceased to be expected to occur.

The table below shows the change in the hedge of corporate and social security taxes over share-based compensation:

Three-month period ended

03/31/2026

03/31/2025

Balance at beginning of the period

4,016

11,029

Fair value change recognized in OCI during the period

(9,311)

(4,101)

Total amount reclassified from cash flow hedge reserve to the statements of income during the period (note 10)

7,512

(1,397)

to "Customer support and operations"

311

1,111

to "General and administrative expenses"

7,561

(2,627)

to "Marketing expenses"

(360)

119

Balance at end of the period

2,217

5,531

Expected cash disbursement

03/31/2026 12/31/2025

Up to 1 year 1 to 3 years Above 3 years Total Total

Considering the reporting date fair value of the hedged item:

Expected cash disbursement for corporate and social contributions

37,254

28,542

2,150

67,946

86,787

Total

37,254

28,542

2,150

67,946

86,787

Hedge of interest rate risk

The Group is exposed to interest rate risk on its portfolio of certain fixed-rate government bonds classified as securities measured at fair value through other comprehensive income and at amortized cost. To manage changes in the fair value of these bonds arising from market interest rate movements, the Group enters into interest rate swaps ("IRS") that convert the fixed returns of the bonds into floating rates aligning the yield profile of the securities with the Group's risk management strategy.

The Group applies fair value hedge accounting to these government bonds. Under this strategy, the carrying amount of the hedged item is adjusted for changes in fair value to the interest rate risk, with the gain or loss recognized in the statements of income, where it offsets the fair value movements of the interest rate swaps.

Hegde effectiveness of the hedging is assessed periodically. The Group compares the changes in the fair value of the interest rate swaps with the changes in the fair value of the government bonds attributable to the hedged risk and ensures that the critical terms of the hedging instruments and the hedged items (such as notional amounts, maturity dates, and payment frequencies) are closely aligned. Subsequent assessments of effectiveness are performed to verify that the hedging relationship remains effective throughout its duration. Sources of ineffectiveness may include basis risk, differences in interest rate curves, and potential timing differences in the settlement of the instruments. The ineffective portion is recognized immediately in the statements of income.

‌The notional amount of the interest rate swaps is designated to match the principal amount of the government bonds being hedged. The hedged interest rate component has historically represented substantially all of the fair value changes of the bonds attributable to the hedged risk, as they are sovereign bonds with no credit risk.

The aggregate positions and effectiveness indicators of the fair value hedge of interest rate risk are:

Hedge object

03/31/2026

Fair value adjustment

to the hedge object Change

Three-month period ended 03/31/2026

Ineffectiveness

Asset Liability

in fair value

Fair value variation

Interest rate risk

Financial investment at fair value through other comprehensive income

288,023

7,060

(2,355)

Financial investment at amortized cost

295,987

3,679

(2,505)

Total

584,010

10,739

(4,860)

12/31/2025

Three-month period ended 03/31/2025

Hedge object

Fair value adjustment

to the hedge object

Asset Liability

Change in fair value

Ineffectiveness

Fair value variation

Interest rate risk

Financial investment at fair value through other comprehensive income

312,871

13,237

13,154

Financial investment at amortized cost

848,329

3,883

3,899

Total

1,161,200

17,120

17,053

Hedge ineffectiveness is recognized within "Interest income and gains net of losses on financial instruments" in the statements of income, presented as "Interest income and gains net of losses - financial instruments at fair value" on note 6. No hedged items ceased to be adjusted for hedging gains and losses during the periods presented.

Hedge of net investment in foreign operations

The Group applies hedge accounting to the net investment in a foreign operation in Brazil for changes in spot exchange rates. Hedging is undertaken for the Group's structural exposure to changes in the U.S. dollar to Brazilian real exchange rate using NDFs. An economic relationship exists between the hedged net investment and the hedging instrument due to the shared foreign currency risk exposure. The effective portion of gains and losses on the hedging instrument is recognized in other comprehensive income and the ineffective portion is recognized in the statement of income.

Sources of hedge ineffectiveness in net investment hedging relationships may include: (i) mismatches between the notional amount of the designated hedging instrument and the carrying amount of the designated layer of the net investment, including those arising from post-designation changes in the net assets of the foreign operation such as retained earnings movements; (ii) differences between the NDF contract maturity and the hedging designation period, including effects arising from the rollover of hedging instruments across reporting periods; and (iii) changes in the credit risk of the counterparty to the NDF contract, which affect the fair value of the hedging instrument but have no corresponding effect on the value of the hedged net investment. The forward element of the NDF contracts is excluded from the designated hedge relationship and accounted for separately under the cost of hedging approach.

A portion of US$1,813,110 of the Group's net investment in its Brazilian operations is designated as the hedged item. The notional amount of the NDFs are designated to match this portion of the investment

The aggregate positions at the reporting date and the performance indicators are summarized below.

Hedge object

03/31/2026

Fair value adjustment

to the hedge instruments Change in

fair value

Ineffectiveness Recognized in

Asset Liability

recognized in OCI

statement of income

Net investment exchange risk

Net investment in foreign operations

1,813,110

5,889

(64,573)

(11,438)

Total

1,813,110

5,889

(64,573)

(11,438)

The cumulative effective portion of gains and losses on the hedging instrument is included within the net investment hedge reserve in the statement of changes in equity. The change for the period is presented in the statement of comprehensive income.

21. REPURCHASE AGREEMENTS

03/31/2026 12/31/2025

Government bonds and receivables 1,248,357 783,837

On March 31, 2026 the Group had US$1,248,357 (US$783,837 as of December 31, 2025) in repurchase agreements primarily using government bonds as collateral. These agreements are mainly executed with overnight maturities, although some instruments have short-term maturities (up to 3 months). The average fixed rate is 14.2% per year as of March 31, 2026 (as of December 31, 2025 the average fixed rate was 14.4% per year) and the government bonds that were pledged as collateral were classified as fair value through other comprehensive income, as shown on note 12. As of March 31, 2026 the fair value of the securities pledged to repurchase agreement was US$998,258 (US$747,531 as of December 31, 2025). Additionally, the Group also uses other receivables (note 16) as underlying collateral in repurchase agreement operations. As of March 31, 2026, the balance of receivables pledged as collateral amounted to US$250,099 (US$95,558 as of December 31, 2025).

‌Changes to repurchase agreement are as follows:

03/31/2026

12/31/2025

Balance at beginning of the period

783,837

308,583

New obligations

56,390,021

200,604,295

Payments - principal

(55,976,276)

(200,184,752)

Payments - interest

(41,645)

(124,272)

Interest accrued

41,720

128,614

Effect of changes in exchange rates (OCI)

50,700

51,369

Balance at the end of the period

1,248,357

783,837

22. FINANCIAL LIABILITIES AT AMORTIZED COST - DEPOSITS

03/31/2026

12/31/2025

Bank receipt of deposits (RDB)

32,843,499

32,004,825

Deposits from customers

8,953,491

9,452,342

Bank certificate of deposit (CDB)

623,965

467,934

Interbank deposits

27,166

Total

42,448,121

41,925,101

RDBs are investment products available within NuAccount offering either daily liquidity or fixed future maturity options. Deposits in RDB are guaranteed under limits from the Brazilian Deposit Guarantee Fund ("FGC"). Unlike the deposits from customers, Nu is required to follow the compulsory deposits requirements for RDB deposits (see note 15). However, there is no obligation to invest the remaining balance in government securities or to hold it in a specific account at the Central Bank of Brazil. As such, these amounts can be used as a financing source for loan and credit card operations.

Deposits from customers refers to NuAccount, which is a prepaid account available in Brazil, Mexico, and Colombia, in which customers can deposit funds and invest in specific products, such as RDBs in Brazil.

In Brazil, the amounts deposited by customers are classified as electronic money and must be allocated to government securities (see note 12b) or in a specific account maintained at the Central Bank of Brazil (see note 15), in accordance with Brazilian regulatory requirements. In Colombia, NuAccount balances are required to have a percentage of the deposits from the public in an account with the Colombian Central Bank, which is a class of compulsory deposits. The interest paid on NuAccount in Colombia ranged from 8.8% to 9.3% per year as of March 31, 2026 (as of December 31, 2025, the interest paid ranged from 8.3% to 8.8% per year).

In Mexico, NuAccount balances are not required to be invested in specific assets; and therefore, they can be used as a financing source for the credit card transactions. The balances deposited in "Cajitas" yield from 7.0% to 13.0% per year as of March 31, 2026 (as of December 31, 2025, the balances yielded from 7.3% to 15.0% per year). "Cajitas" has daily yield accrual and can have daily liquidity or defined future maturity.

The interest paid on both NuAccount and RDB deposits (except fixed term RDBs) is 100% of the Brazilian CDI rate as of the initial date if the balances are kept for more than 30 days. There are also RDBs with a defined future maturity date, which have a maturity of up to 46 months and a weighted average interest rate of 104% of the Brazilian CDI rate as of March 31, 2026 and December 31, 2025

The Bank certificate of deposit (CDB) is issued by Nu Financiera and primarily distributed by Nu Investimentos.

Interbank deposits refer to a wholesale time deposit from another financial institution, entered into as part of a treasury strategy to hedge the mark-to-market variability of sovereign notes posted as collateral on margin loans.

Breakdown by maturity

03/31/2026 12/31/2025

Up to 12 months

Over 12 months

Total Up to

12 months

Over 12 months

Total

Bank receipt of deposits (RDB)

32,687,602

155,897

32,843,499

31,869,219

135,606

32,004,825

Deposits from customers

8,865,493

87,998

8,953,491

9,372,045

80,297

9,452,342

Bank certificate of deposit (CDB)

415,344

208,621

623,965

363,783

104,151

467,934

Interbank deposits

27,166

Total

41,968,439

479,682

42,448,121

41,605,047

320,054

41,925,101

23. FINANCIAL LIABILITIES AT AMORTIZED COST - PAYABLES TO NETWORK

03/31/2026

12/31/2025

Payables to credit card network

14,339,365

13,633,823

Payables to clearing houses

70,351

126

Total

14,409,716

13,633,949

Payables to credit card network corresponds mainly to the amount payable to the acquirers related to credit and prepaid card transactions. Brazilian credit card payables are settled according to the transaction installments, substantially in up to 27 days for transactions with no installments; 1 business day for international transactions; and sales in installments ("parcelado") have monthly settlements, mostly, over a period of up to 12 months. For Mexican and Colombian credit card transactions, the amounts are settled in 1 business day.

The segregation by maturity of the Payables to credit card network is shown in the table below:

Payables to credit card network 03/31/2026 12/31/2025

Up to 30 days

6,121,844

5,335,818

30 to 90 days

4,102,270

4,273,171

More than 90 days

4,115,251

4,024,834

Total

14,339,365

13,633,823

‌24. FINANCIAL LIABILITIES AT AMORTIZED COST - BORROWINGS AND FINANCING

03/31/2026

12/31/2025

Borrowings and financing

4,504,241

4,398,216

Total

4,504,241

4,398,216

a) Borrowings and financing

Borrowings and financings maturities are as follows:

03/31/2026

Up to 3 months 3 to 12 months Over Total

12 months

Borrowings and financing

Financial bills (i)

301,515

519,670

1,814,913

2,636,098

Margin loan credit facility (ii)

194,300

1,673,843

1,868,143

Total borrowings and financing

495,815

2,193,513

1,814,913

4,504,241

12/31/2025

Up to 3 months 3 to 12 months Over

12 months

Total

Borrowings and financing

Financial bills (i)

246,141

680,482

1,602,967

2,529,590

Margin loan credit facility (ii)

150,260

1,448,560

269,806

1,868,626

Total borrowings and financing

396,401

2,129,042

1,872,773

4,398,216

As of March 31, 2026, Nu Financeira had issued financial bills in Brazilian reais, indexed to percentage of the CDI, or CDI plus a fixed spread. The principal amount was equivalent to US$2,168,020 (US$2,529,590 as of December 31, 2025) and the maturity for these financial bills ranges from April 2026 up to March 2029.

Correspond to margin loan credit facility, backed by government securities and sovereign bonds as collateral for the operation which Nu entered into through Nu Financeira. As of March 31, 2026 and December 31, 2025 the principal amount was US$1,862,365. The loans are indexed to CME Term SOFR Rate (CME Group's forward-looking SOFR rate) plus a fixed spread. The maturity for these loans is from June 2026 to March 2027.

Changes to borrowings and financings are as follows:

Margin loan credit facility

03/31/2026

Financial Bills Total

Balance at beginning of the period

1,868,626

2,529,590

4,398,216

New borrowings

123,668

Payments - principal

(201,570)

Payments - interest

(22,786)

(61,031)

(83,817)

Interest accrued

22,008

92,174

114,182

Transaction costs

Effect of changes in exchange rates (OCI)

295

153,180

153,475

Balance at end of the period

1,868,143

2,636,098

4,504,241

03/31/2025

Margin loan credit facility

Syndicated loan

Financial Bills Total

Balance at beginning of the period

201,493

350,261

1,178,603

1,730,357

New borrowings

150,000

37,171

187,171

Payments - principal

(355,041)

Payments - interest

(2,860)

(17,298)

(20,157)

Interest accrued

2,913

2,704

40,966

46,583

Transaction costs

4,146

(298)

3,848

Effect of changes in exchange rates (OCI)

(22)

15,227

98,928

114,133

Balance at end of the period

351,524

1,355,370

1,706,894

Covenants

As of March 31, 2026, the Company's loan and financing agreements with financial institutions do not contain financial restrictive covenants.

Guarantees

As of March 31, 2026, Nu Holdings is not guarantor to any of the borrowings and financing arrangements referred to above.

PROVISIONS AND CONTINGENT LIABILITIES

The Company and its subsidiaries are parties to lawsuits and administrative proceedings arising from time to time in the ordinary course of operations, involving civil, tax and labor claims. Such claims are being addressed at both the administrative and judicial levels, and when applicable, are supported by judicial deposits. Provisions for probable losses arising from these claims are estimated and periodically adjusted by management, with support from external legal counsel. There is significant uncertainty relating to the timing of any cash outflows, if any, for civil and labor risk.

‌03/31/2026

12/31/2025

Civil risks

28,090

22,044

Tax risks

6,714

5,081

Labor risks

3,684

3,795

Total

38,488

30,920

Provision

Civil lawsuits are mainly related to NuAccount operations. Based on management's assessment, and inputs from Nu's external legal counsel, the Group has provisioned US$28,090 as of March 31, 2026 (US$22,044 on December 31, 2025) which is considered sufficient to cover the estimated losses from civil lawsuits with probable loss classification.

Changes

Changes to provisions and contingent liabilities are as follows:

03/31/2026

03/31/2025

Tax

Civil

Labor

Total

Balance at beginning of the period

5,081

22,044

3,795

30,920

22,551

Additions

1,113

10,227

631

11,971

6,111

Monetary adjustment

192

162

372

201

Reversals

(5,437)

(90)

Payments

(166)

(1,130)

(1,296)

(5,262)

Effect of changes in exchange rates (OCI)

328

1,404

226

1,958

1,873

Balance at end of the period

6,714

28,090

3,684

38,488

25,384

Contingencies

The Group is a party to civil and labor lawsuits, involving risks classified by management and supported by its advisors as possible losses, totaling approximately US$4,681 and US$4,739, as of March 31, 2026 respectively (US$4,372 and US$4,532 on December 31, 2025).

Judicial deposits

As of March 31, 2026, the total amount of judicial deposits shown as "Other assets" (note 17) is US$7,713 (US$6,614 on December 31, 2025) and is substantially attributed to the judicial deposit carried on behalf of the shareholders of Nu Investimentos, prior to the acquisition, due to a tax proceeding related to withholding taxes calculated on amounts paid to employees.

26. DEFERRED INCOME

03/31/2026

12/31/2025

Deferred revenue from rewards program

82,353

76,291

Other deferred income

1,361

1,230

Total

83,714

77,521

Deferred revenue from rewards program relates to the Group's rewards programs for its credit card customers, specifically the "Nubank+" and "Ultravioleta". Under these programs, members earn points according to the use of the credit card, that can be redeemed for cashback or converted into air miles. The points do not expire and there is no cap on the number of points an eligible card holder can earn.

Nu uses financial models to estimate the redemption rates of rewards earned to date by current card members, and, therefore, the estimated financial value of the points, based on historical redemption trends and current enrollee redemption behavior, among others. The estimated financial value is recorded in the statement of income when the performance obligation is satisfied (that is, at the time the reward points are redeemed).

27. OTHER LIABILITIES

03/31/2026

12/31/2025

Sundry creditors (i)

507,567

470,046

Payment transactions - other (ii)

261,178

262,008

Credit card expected credit loss (note 13) (iii)

51,045

44,679

Intermediation of securities

10,798

15,570

Payables to insurers

24,422

12,190

Third parties funds in transit (iv)

41,552

41,587

Other liabilities (v)

97,806

120,842

Total

994,368

966,922

The sundry creditors is composed mainly of amounts payable to suppliers.

Payments transactions - other corresponds to prepayments from customers which exceed the credit card bill amounts.

Includes the amount by which the expected credit card loss exceeds the gross carrying amount of the related financial assets, due to provisions for unused limits.

Third parties funds in transit is primarily related to pending settlement balances with B3 and amounts payable to a partner institution related to utility bill payments made by customers.

Other liabilities is mostly composed by pending balances allocation that have not yet been deposited into customers' accounts and provision with loyalty program.

‌RELATED PARTIES

In the ordinary course of business, the Group issues credit cards or loans to Nu's executive directors, board members, key employees, and close family members. Those transactions, along with deposits and other products, such as investments, are conducted on similar terms as those offered to unrelated third parties under similar circumstances and do not involve more than the normal risk of collectability.

As described in note 3, Basis of Consolidation, all entities within the Group are consolidated in these unaudited interim condensed consolidated financial statements. Therefore, related party balances and transactions, as well as unrealized gains or losses arising from intercompany transactions, are eliminated in these unaudited interim condensed consolidated financial statements.

Transactions with other related parties

03/31/2026 12/31/2025

Assets (Liabilities)

Other liabilities (i) (625) (926)

(i) In the second quarter of 2024, Nu entered into a commercial relationship with a company where one of its Directors serves as CEO. As part of this agreement, Nu received a cash incentive, which will be used to support projects costs upon the Company's satisfaction of certain conditions.

FAIR VALUE MEASUREMENT

The main valuation techniques employed in internal models to measure the fair value of the financial instruments as of March 31, 2026 and December 31, 2025 are set out below. The principal inputs into these models are derived from observable market data. The Group did not make any material changes to its valuation techniques and internal models in the periods presented.

Fair value of financial instruments carried at amortized cost

The following tables show the fair value of the financial instruments carried at amortized cost as of March 31, 2026 and December 31, 2025. The Group has not disclosed the fair value of financial instruments such as compulsory and other deposits at central banks, other receivables, other financial assets at amortized cost, deposits from customers, RDB, interbank deposits and repurchase agreements, as the carrying amounts are a reasonable approximation of fair value.

03/31/2026

12/31/2025

Carrying

Fair value

Carrying

Fair value

amount

Level 1 Level 2

Level 3

amount

Level 1 Level 2

Level 3

Assets

Credit card receivables

20,187,218

- -

21,505,605

18,267,904

- -

19,333,556

Loans to customers

10,968,766

- -

11,574,030

9,421,458

- -

9,834,661

Compulsory and other deposits at central banks

9,195,997

9,537,788

Securities

3,369,572

1,537,198 2,013,283

3,141,504

1,052,384 2,053,383

Other receivables

829,192

1,000,683

Other financial assets

131,873

148,777

Total

44,682,618

1,537,198 2,013,283

33,079,635

41,518,114

1,052,384 2,053,383

29,168,217

Liabilities

Bank receipt of deposits (RDB)

32,843,499

32,004,825

Deposits from customers

8,953,491

9,452,342

Bank certificate of deposit (CDB)

623,965

623,854

- 467,934

467,742

Interbank deposits

27,166

Payables to network

14,339,365

15,564,471

- 13,633,823

13,006,159

Borrowings and financing

4,504,241

4,509,720

- 4,398,216

4,406,310

Repurchase agreements

1,248,357

783,837

Total

62,540,084

20,698,045

- 60,740,977

17,880,211

The valuation approach to specific categories of financial instruments is described below.

Fair value models and inputs

Credit card receivables and payables to network: The fair values of credit card receivables and payables to network are calculated using the discounted cash flow method. Fair values are determined by discounting the contractual cash flows by the interest rate curve and credit spread. For payables, cash flows are also discounted by the Group's own credit spread.

Loans to customers: Fair value is estimated based on groups of customers with similar risk profiles, using valuation models. The fair value of a loan is determined by discounting the contractual cash flows by the interest rate curve and a credit spread.

Securities: Comprise sovereign notes and bonds held to collect. The fair value is given by observed market prices, when available, or by discounting future cash flows using both the risk free interest rate curve for the respective settlement currency, and the CDS-built (Credit Default Swaps) credit spread for the respective sovereign entity that issued the note.

Bank certificate of deposit (CDB): Fair value is given by discounting future cash flows using risk free interest rate plus issuance observed spreads.

Borrowings and financing: Fair value is measured using the discounted cash flow method, with contractual cash flows discounted at the interest rate curve and a spread.

Fair value of financial instruments measured at fair value

The following table shows a summary of the fair values, as of March 31, 2026 and December 31, 2025, of the financial assets and liabilities indicated below, classified on the basis of the various measurement methods used by the Group to determine their fair value:

‌03/31/2026

Fair value Level 1

Fair value Level 2

Fair value Level 3

Total

Assets

Cash and cash equivalents

Short-term investments (i)

467,402

467,419

Government bonds

Latin America

10,988,708

Corporate bonds and other instruments

Certificate of bank deposits

245,922

Investment funds

85,169

9,247

39,006

133,422

Time deposits

197,812

Notes

803,941

Bill of credit (LC)

Real estate and agribusiness certificate of receivables

3,579

Real estate and agribusiness letter of credit

1,623

Corporate bonds and debentures

116,554

3,579

4,832

124,965

Equity instruments

27,152

Derivatives

274,196

76,821

35,285

386,302

Liabilities

Derivatives

285,656

59,787

345,443

Obligations for quotas of investment funds

25,422

(i) Includes time deposits, investment funds and CDB balances.

12/31/2025

Fair value Level 1

Fair value Level 2

Fair value Level 3

Total

Assets

Cash and cash equivalents

Short-term investments (i)

632,324

19,927

652,251

Government bonds

Latin America

11,701,147

Corporate bonds and other instruments

Certificate of bank deposits (CDB)

216,712

Investment funds

26,722

7,626

36,769

71,117

Time deposits

187,683

Notes

818,885

Bill of credit (LC)

Real estate and agribusiness certificate of receivables

7,334

Real estate and agribusiness letter of credit

606

Corporate bonds and debentures

150,159

31,356

4,877

186,392

Equity instruments

27,120

Derivatives

288

45,923

34,537

80,748

Liabilities

Derivatives

17,426

48,543

65,969

(i) Includes time deposits, investment funds and CDB balances.

i) Fair value models and inputs

Securities: Securities with high liquidity and quoted prices in the active markets are classified as Level 1. All government bonds and certain corporate bonds are included in Level 1 as these are traded in active markets. For Brazilian securities, fair values are based on prices published by the "Associação Brasileira das Entidades dos Mercados Financeiro e de Capitais" ("Anbima"). For United States, Mexico and Colombia bonds, fair values are based on prices published by Bloomberg, Valmer and Precia, respectively. Other corporate bonds and investment fund shares, for which fair values are calculated based on observable data, such as interest rates and interest rate curves are classified as Level 2. The investment funds that used contractual conditions as inputs that are not directly observable in the market are classified as Level 3. The debenture whose issuer has entered judicial reorganization, is classified as Level 3 because its market price is not directly observable under these circumstances.

Derivatives: Exchange-traded derivatives are classified as Level 1 with valuations based on market quotes. Derivatives traded on the Brazilian stock exchange are measured at fair value using the Brazilian securities exchange, "Brasil, Bolsa e Balcão" ("B3"), quotations. Swaps are valued by discounting future expected cash flows to present values using interest rate curves and are classified as Level 2. Total Return Swaps are also valued by discounting expected cash flows, with the particularity that the equity leg expected cash flow is based on the last observed price, following non-arbitrage principles. Call options and Warrants are valued using internal models with unobservable inputs and premises, and classified as Level 3.

‌Equity instrument: The fair value of the equity instrument is determined using contractual conditions as inputs that are not directly observable in the market, and therefore classified as Level 3.

Reconciliation of fair value measurements in Level 3

The table below shows a reconciliation from the opening to the closing balances for recurring fair value measurements categorized within Level 3 of the fair value hierarchy.

Equity Derivatives instruments

03/31/2026

Investment funds

Corporate bonds and debentures

Total

Financial assets at beginning of the period

27,120

34,537

36,769

4,877

103,303

Acquisitions

Settlements

(1,243)

Total gains or losses

748

1,179

(45)

1,914

In profit or loss

748

1,177

(45)

1,912

In OCI

Effect of changes in exchange rates (OCI)

2,301

Financial assets at end of the period

27,152

35,285

39,006

4,832

106,275

Equity instruments

03/31/2025

Derivatives Total

Financial assets at beginning of the period

12,900

50,665

63,565

Acquisitions

Total gains or losses

(4,398)

(4,381)

In profit or loss

(4,398)

(4,381)

Financial assets at end of the period

12,917

46,267

59,184

Transfers between levels of the fair value hierarchy

For the three-month periods ended on March 31, 2026 and 2025 there were no material transfers of financial instruments between levels.

INCOME TAX

Current and deferred taxes are determined for all transactions that have been recognized in these unaudited interim condensed consolidated financial statements using the provisions of the current tax laws. The current income tax expense or benefit represents the estimated taxes to be paid or refunded, respectively, for the current period. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities. They are measured using the tax rates and laws that will be in effect when the temporary tax differences and tax loss carryforward are expected to reverse.

Income tax reconciliation

The tax on the Group's pre-tax profit differs from the theoretical amount that would arise using the weighted average tax rate applicable to profits of the consolidated entities. Thus, the following is a reconciliation of income tax expense to profit for the period, calculated by applying the combined Brazilian income tax rate of 40% for the three-month period ended March 31, 2026 and 2025.

Three-month period ended

03/31/2026

03/31/2025

Profit before income tax

954,306

795,073

Tax rate (i)

40%

Income tax

(381,722)

(318,029)

Permanent additions/exclusions

Share-based payments

620

1,350

Effect of different tax rates - subsidiaries and parent company

166,958

24,496

Interest on capital

48,337

20,386

Changes in income tax rate (ii)

12,774

Other amounts (iii)

70,158

33,932

Income tax

(82,875)

(237,865)

Current tax expense

(402,646)

(81,114)

Deferred tax benefit (expense)

319,771

(156,751)

Income tax in the statement of income

(82,875)

(237,865)

Deferred tax recognized in OCI

3,154

812

The tax rate used was the one applicable to the Brazilian financial subsidiaries, which represents the most significant portion of the operations of the Group. The tax rate used is not materially different from the average effective tax rate considering all jurisdictions where the Group has operations. The effect of other tax rates is shown in the table above as "Effect of different tax rates - subsidiaries and parent company."

Result of the change in the Social Contribution on Net Profit (CSLL) tax rate in future taxable temporary differences for payment institutions and credit, financing and investment companies regulated by Law No. 12,865/13 due to the enactment of Complementary Law No. 224/2025 in Brazil. For payment institutions, the rates are 9% until 2025 and 12% for the 2026 and 2027 period and 15% from 2028 onwards, while for credit, financing and investment companies, the rates are 17.5% for the 2026 and 2027 period and 20% from 2028 onwards.

Primarily related to non-taxable interest income on sovereign bonds, tax incentives and non-taxable interests on tax recoverable.

‌Deferred income taxes

The following tables present significant components of the Group's deferred tax assets and liabilities as of March 31, 2026 and 2025, and the changes for both periods. The accounting records of deferred tax assets on income tax losses and/or social contribution loss carryforwards, as well as those arising from timing differences, are based on technical feasibility studies which consider the expected generation of future taxable income, considering the history of profitability for each subsidiary individually. The use of the deferred tax asset related to tax loss and negative basis of social contribution is limited to 30% of taxable profit per year for the Brazilian entities and there is no time limit to use it.

Reflected in the statement of income

12/31/2025 Other Constitution Realization Foreign

exchange

Reflected in OCI

03/31/2026

Provisions for credit losses

2,072,235

359,947

90,363

2,522,640

Other temporary differences (i)

425,143

113,771

(55,852)

43,335

(2,852)

523,545

Total deferred tax assets on temporary differences

2,497,378

473,718

(55,852)

133,698

(2,852)

3,046,185

Tax loss and negative basis of social contribution

141,911

3,741

(18,330)

8,142

135,464

Deferred tax assets

2,639,289

477,459

(74,182)

141,840

(2,852)

3,181,649

Fair value changes - financial instruments

(96,065)

(94,755)

(4,413)

(204)

(195,437)

Others

(32,257)

979

23,817

(7,087)

(14,548)

Deferred tax liabilities

(128,322)

(93,776)

23,817

(11,500)

(204)

(209,985)

Deferred tax, offset

2,510,967

383,683

(50,365)

130,340

(3,056)

2,971,664

Fair value changes - cash flow hedge

(13,334)

(13,547)

(749)

6,210

(21,420)

Deferred tax recognized during the period

370,136

(50,365)

3,154

Reflected in the statement of income

12/31/2024 Constitution Realization Foreign

exchange

Reflected in OCI

03/31/2025

Provisions for credit losses

1,506,086

391,470

(545,161)

116,218

651

1,469,264

Other temporary differences (i)

260,314

18,033

(18,833)

41,636

140

301,290

Total deferred tax assets on temporary differences

1,766,400

409,503

(563,994)

157,854

791

1,770,554

Tax loss and negative basis of social contribution

145,603

25,222

(6,003)

9,128

173,950

Deferred tax assets

1,912,003

434,725

(569,997)

166,982

791

1,944,504

Futures settlement market

(9,146)

(409)

1,039

8,104

(5)

(417)

Fair value changes - financial instruments

(62,091)

(8,781)

(2,630)

(181)

(73,683)

Others

(22,427)

(2,442)

(5,858)

(7,090)

(37,817)

Deferred tax liabilities

(93,664)

(11,632)

(4,819)

(1,616)

(186)

(111,917)

Deferred tax, offset

1,818,339

423,093

(574,816)

165,366

605

1,832,587

Fair value changes - cash flow hedge

(2,969)

(5,028)

568

207

(7,222)

Deferred tax recognized during the period

423,093

(579,844)

812

(i) Other temporary differences are composed mainly of fair value changes on financial instruments taxes as of March 31, 2026 and 2025.

Tax liabilities

03/31/2026

12/31/2025

Taxes and contributions on income

295,405

1,322,821

Other taxes (i)

198,997

101,297

Total tax liabilities

494,402

1,424,118

(i) Other taxes refers substantially to indirect taxes on revenues and financial operations across the jurisdictions where the Group operates.

EQUITY

The table below presents the changes in shares issued and fully paid and shares authorized, by class, as of March 31, 2026 and 2025.

03/31/2026

Shares authorized and fully issued

Note

Class A

Ordinary shares

Class B

Ordinary shares

Total

Total as of December 31, 2025

3,833,072,934

1,022,600,698

4,855,673,632

SOPs exercised and RSUs vested

8,323,543

Shares withheld for employees' taxes

(2,255,924)

Total as of March 31, 2026

3,839,140,553

1,022,600,698

4,861,741,251

‌03/31/2025

Shares authorized and fully issued

Note

Class A Ordinary shares

Class B Ordinary shares

Total

Total as of December 31, 2024

3,768,057,942

1,050,600,698

4,818,658,640

SOPs exercised and RSUs vested

7,437,407

Shares withheld for employees' taxes

(2,002,992)

Issuance of class A shares - business acquisitions

313,456

Total as of March 31, 2025

3,773,805,813

1,050,600,698

4,824,406,511

Shares authorized and unissued

Class A

Ordinary shares

Class B

Ordinary shares

Total

Reserved for the share-based payments

228,167,482

Shares authorized which may be issued class A or class B

43,513,532,477

Shares authorized and unissued as of March 31, 2026

43,741,699,959

Shares authorized issued

3,839,140,553

1,022,600,698

4,861,741,251

Total as of March 31, 2026

3,839,140,553

1,022,600,698

48,603,441,210

Other share events

As of March 31, 2026, the Company had authorized and unissued ordinary shares, which were reserved for commitments related to business acquisitions, share-ba-sed payment plans (note 10) and future issuances for unspecified purposes. These shares may be issued either as class A or class B ordinary shares.

Share capital and share premium reserve

All share classes of the Company had a nominal par value of US$0.0000067 on March 31, 2026 and December 31, 2025, and the total amount of share capital was US$84 on the same dates.

Share premium reserve relates to amounts contributed by shareholders over the par value at the issuance of shares.

The total of exercised Stock Options (SOP) was US$96 for the three-month period ended on March 31, 2026 (US$398 for the three-month period ended on March 31, 2025).

Retained earnings

The retained earnings include the profits or losses of the Group and the share-based payment reserve amount, as shown in the table below.

As described in note 10, the Group's share-based payments include incentives in the form of SOPs, RSUs and Awards. Further, the Company can use the reserve to absorb accumulated losses.

03/31/2026

12/31/2025

Accumulated gains (losses)

6,023,719

5,151,437

Share-based payments reserve

1,318,455

1,261,263

Total attributable to shareholders of the parent company

7,342,174

6,412,700

Shares repurchased and withheld

Shares may be repurchased from certain former employees when they leave the Group, due to contractual terms of deferred payments on business combinations, or withheld because of RSUs plans to settle the employee's tax obligation. These shares repurchased or withheld are canceled and cannot be reissued or subscribed. During the three-month period ended March 31, 2026 and 2025, the following shares were withheld:

03/31/2026

03/31/2025

Number of shares withheld - RSU

2,255,924

2,002,992

Total value of shares withheld - RSU

146,166

21,292

Accumulated other comprehensive income (loss)

Other comprehensive income (loss) includes the amounts, net of the related tax effect, of the adjustments to assets and liabilities recognized in equity through the consolidated statement of comprehensive income.

Other comprehensive income that may be subsequently reclassified to profit or loss is related to cash flow hedges that qualify as effective hedges and currency translation that represents the cumulative gains and losses on the retranslation of the Group's investment in foreign operations. These amounts will remain under this heading until they are recognized in the consolidated statement of income in the periods in which the hedged items affect it, for example, in the case of the cash flow hedge.

The own credit reserve reflects the cumulative own credit gains and losses on financial liabilities designated at fair value. Amounts in the own credit reserve are not reclassified to profit or loss in future periods.

The accumulated balances are as follows:

03/31/2026

12/31/2025

Cash flow hedge effects, net of deferred taxes

(14,561)

(4,076)

Net investment hedge effects

(64,573)

Currency translation on foreign entities

246,612

(196,018)

Changes in fair value - financial instruments at FVTOCI, net of deferred taxes

15,358

15,296

Own credit adjustment effects

498

Total

183,334

(184,300)

‌MANAGEMENT OF FINANCIAL RISKS, FINANCIAL INSTRUMENTS, AND OTHER RISKS

Overview

The Group monitors risks that could materially impact strategic objectives or regulatory compliance. To efficiently manage and mitigate these risks, the risk management structure identifies and assesses the risks based on their potential impact on financial results, capital, liquidity, customer relationships, and reputation. This prioritization aims to ensure that the Group captures opportunities while mitigating threats to its strategic pillars.

Risk management structure

Risk Management is a fundamental pillar of the Group's strategic governance. The risk management framework is integrated across the entire Group with the objective of ensuring that risks are consistently identified, measured, mitigated, monitored, and reported. This continuous process is embedded in the Group's culture and decision-making structures, aiming to minimizing losses, maximizing profitability, and reinforcing the Group's core values.

The Group's risk management structure considers the size and complexity of its business, which allows tracking, monitoring, and control of the risks to which it is exposed. The risk management process is aligned with management guidelines, which, through committees and other internal meetings, define strategic objectives, including risk appetite. Conversely, the capital control and capital management units provide support through risk and capital monitoring and analysis processes.

The Group considers a Risk Appetite Statement ("RAS") to be an essential instrument to support risk management and decision making. The Board of Directors reviews and approves the RAS, as guidelines and limits for the business plan and capital deployment. Nu has defined a RAS that prioritizes the main risks and, for each of these, qualitative statements and quantitative metrics expressed in relation to earnings, capital, risk measures, liquidity, and other relevant measures were implemented, as appropriate.

Risks actively monitored

Risks that are actively monitored by the Group include Credit Risk, Liquidity Risk, Market Risk, Interest Rate Risk in the Banking Book ("IRRBB"), Foreign exchange ("FX"), Operational, IT and Cyber, Regulatory, Compliance and Anti-money laundering ("AML"), Reputational Risk, Model Risk and Risk from Cryptocurrency business. The management of these risks is carried out according to the three-line model, considering policies and procedures in place, as well as the limits established in the RAS. Also, there is a Stress Testing program in place.

Each of the risks described below has its own methodologies, systems and processes for its identification, measurement, evaluation, monitoring, reporting, control, and mitigation.

In the case of financial risks, such as credit, liquidity, IRRBB and market, the measurement is undertaken based on quantitative models and, in certain cases, prospective scenarios in relation to the main variables involved, respecting the applicable regulatory requirements and best market practices. Non-financial risks, such as operational risk and technological/cyber risks, are measured using impact criteria (inherent risk), considering potential financial losses, reputational damage, customer perception, and legal/regulatory obligations, as well as evaluated in relation to the effectiveness of the respective structure of internal controls.

There were no significant changes to the risk management structure from what was reported in Annual Financial Statements.

Credit risk

The Group's outstanding balance of financial assets and other exposures to credit risk is shown in the table below:

03/31/2026

12/31/2025

Financial assets

Cash and cash equivalents

13,920,432

15,003,643

Securities

1,160,009

1,059,923

Derivatives

386,302

80,748

Financial assets at fair value through profit or loss

1,546,311

1,140,671

Securities

11,367,118

12,157,076

Financial assets at fair value through other comprehensive income

11,367,118

12,157,076

Credit card receivables

20,187,218

18,267,904

Loans to customers

10,968,766

9,421,458

Compulsory and other deposits at central banks

9,195,997

9,537,788

Securities

3,369,572

3,141,504

Other receivables

829,192

1,000,683

Other financial assets

131,873

148,777

Financial assets at amortized cost

44,682,618

41,518,114

Other exposures

Unused limits (i)

33,508,707

28,841,327

Credit commitments

33,508,707

28,841,327

(i) Unused limits are not recorded in the consolidated statements of financial position but are considered in the measurement of the ECL due to the fact that it represents credit risk exposure.

Liquidity risk

Liquidity risk is defined as:

The liquidity risk management structure uses future cash flow data, applying what the Company believes to be a severe stress scenario to these cash flows, to measure whether the volume of high-quality liquid assets that the Group holds is sufficient to ensure its financial resilience. The liquidity indicators are monitored daily, using procedures approved by Management, and compared with the approved limit structure, in accordance with the Group's declared risk tolerance.

‌Among the main liquidity indicators, Nu uses:

The Group has a detailed Contingency Funding Plan for each entity, outlining management actions that must be taken in response to a deterioration of the liquidity indicators.

Primary sources of funding - by maturity

03/31/2026 12/31/2025

Funding sources Up to 12 months

Over 12 months

Total % Up to 12 months

Over 12 months

Total %

Bank receipt of deposits (RDB) (i)

32,687,602

155,897

32,843,499

86%

31,869,219

135,606

32,004,825

87%

Borrowings and financing

2,689,328

1,814,913

4,504,241

12%

2,525,443

1,872,773

4,398,216

12%

Bank certificate of deposit (CDB)

415,344

208,621

623,965

363,783

104,151

467,934

Total

35,792,274

2,179,431

37,971,705

100%

34,758,445

2,112,530

36,870,975

100%

(i) Considering the earliest date the customer can redeem, which is the worst-case scenario from the perspective of the Group. For liquidity risk management, Nu considers a run-off scenario, according to historical customer behavior.

Maturities of financial assets and liabilities

The table below summarizes the Group's financial assets contractual cash flows and their contractual maturities:

03/31/2026

Contractual cash flow by maturity

Carrying amount

Up to 1 month 1 to 3 months 3 to 12 months Over

12 months

Total

Financial assets

Credit card receivables (i)

20,187,218

8,358,087

7,072,676

6,137,439

293,664

21,861,866

Securities

15,896,699

1,097,933

981,093

4,192,267

11,037,084

17,308,377

Compulsory and other deposits at central banks

9,195,997

Cash and cash equivalents

13,920,432

Loans to customers (i)

10,968,766

1,292,545

2,366,229

6,264,231

6,546,418

16,469,423

Other receivables

829,192

226,667

313,698

302,354

842,719

Other assets

131,873

Total financial assets

71,130,177

34,223,534

10,733,696

16,896,291

17,877,166

79,730,687

(i) The contractual cash flows for credit card receivables and loans to customers consider only operations that are not overdue. The tables below summarize the Group's financial liabilities and their contractual maturities:

Carrying amount

03/31/2026

Contractual cash flow by maturity

Up to 1 month 1 to 3 months 3 to 12 months Over

12 months

Total (iii)

Financial liabilities

Derivatives

345,443

287,489

6,035

97,330

390,854

Obligations for quotas of investment funds (iv)

25,422

Repurchase agreements

1,248,357

3,102,295

253,982

3,356,277

Deposits from customers (i)

8,953,491

7,460,516

740,799

664,177

87,999

8,953,491

Bank receipt of deposits (RDB) (ii)

32,843,499

32,004,242

454,382

1,109,645

342,425

33,910,694

Bank certificate of deposit (CDB)

623,965

30,645

66,906

343,088

261,624

702,263

Payables to credit card network

14,339,365

6,123,936

4,091,447

3,875,743

245,125

14,336,251

Borrowings and financing

4,504,241

134,660

409,298

2,259,393

2,275,420

5,078,771

Total financial liabilities

62,883,783

49,169,205

6,022,849

8,349,376

3,212,593

66,754,023

In accordance with regulatory requirements and in guarantee of these deposits, the Group holds the total amount of US$96,516 in eligible securities composed of Brazilian government bonds as described in note 12b, under a dedicated account within the Central Bank of Brazil as of March 31, 2026 (US$93,955 as of December 31, 2025).

Considering the earliest date in which the customer can withdraw the deposit.

The total was projected considering the exchange rate of Brazilian Reais, Mexican and Colombian Pesos to US$ as of March 31, 2026.

Includes the units held by non-controlling interests in investment funds that are more likely to be redeemed in the short term and can be redeemed at any time.

The unused limit of credit cards is the pre-approved limit that has not yet been used by the customer and represents the current maximum potential credit exposure. Therefore, it does not represent the real need for liquidity arising from commitments. When customers reach their limits, the expected duration of the credit card receivables is shorter than the duration of the payables to network.

In view of the asset allocation profile presented above, the Group establishes a funding plan with the aim of maintaining a healthy financial position in the short and long term. The main source of funding is the deposit franchise (Deposits in electronic money and Bank receipt of deposits), which the Group aims to match with a liquidity cushion on the asset side. Securities are mainly composed of Government Bonds, which may have longer maturities, as demonstrated in the table above, but are traded in a market that has historically had high liquidity.

‌Additionally, despite being contractually redeemable in the short term, the Group considers deposits balance to be a growing financing instrument, used alongside other debt issuances to guarantee a proper mix of funding sources.

The Group monitors and utilizes this information as part of its mechanism for managing liquidity risk.

Market risk and Interest Rate Risk in the Banking Book (IRRBB)

The table below presents the Value at Risk ("VaR") calculated using a confidence level of 99% and a holding period of 10 days. The calculation is performed using a filtered historical simulation approach, based on a 5-year historical window. For Brazil, VaR is calculated only for the Trading Book, while in Mexico it is presented for the Available for Sale portfolio, in line with regulation and portfolio management strategies.

VaR

03/31/2026

12/31/2025

Nu Prudential Conglomerate - Brazil

Nu Holdings (i)

2,095

576

Nu Mexico Financiera

145

(i) Considers only financial assets held directly by Nu Holdings as other subsidiaries do not have significant market risk exposures.

The following analysis presents the Group's whole Financial Position sensitivity of the fair value to an increase of 1 basis point ("bp") ("DV01") in the Brazilian risk-free curve, Brazilian National Wide Consumer Price Index ("IPCA") coupon curve, US risk-free curve, Mexican risk-free curve and Turkish risk-free curve, assuming a parallel shift and a constant financial position:

DV01

03/31/2026

12/31/2025

Brazilian risk-free curve

(653)

(766)

Turkish risk-free curve

(131)

(147)

US risk-free curve

(33)

Mexican risk-free curve

(90)

(42)

Colombia risk-free curve

(287)

(257)

Foreign exchange (FX) risk

The financial information may exhibit volatility due to the Group's operations in foreign currencies, such as the Brazilian real and the Mexican and Colombian pesos. At the Nu Holdings level, net investment hedge is adopted only for a portion of the investments in Brazilian companies.

Expenses in other currencies (US$ and EUR) are hedged within a hedge accounting framework, but other economic hedge relationships exist and are governed by an FX residual exposure framework within the market risk management structure. A non-exhaustive list comprises loans, bonds, cash accounts, and time deposits in other currencies than the functional currency of each entity, and the total exposure is always kept within the tolerance level defined by the Group on this instance.

As of March 31, 2026 and December 31, 2025, none of the entities of the Group had significant unhedged FX exposures in currencies other than their respective functional currencies.

CAPITAL MANAGEMENT

The purpose of capital management is to maintain the capital adequacy for Nu's operation through control and monitoring of the capital position, to evaluate the capital necessity according to the risk appetite and strategic aim of the organization, and to establish a capital planning process. Accordingly, future requirements of regulatory capital are assessed based on the Group's growth projections, risk exposure, market movements, and other relevant information. Also, the capital management structure is responsible for identifying sources of capital, writing and submitting the capital plan and the capital contingency plan for approval by the Executive Directors.

Regulatory Capital Composition

The Company is not subject to specific regulatory capital requirements; however, the regulated subsidiaries in each country must comply with local rules. The capital adequacy of the regulated subsidiaries are detailed below.

Nu Prudential Conglomerate in Brazil

Brazil's Central bank ("BCB") defines a prudential conglomerate as a set of entities in which one regulated entity controls other regulated companies or investment funds. A conglomerate is classified as Type 3 when the lead entity - the one at the top of the ownership structure - is a Payment Institution, as is the case for Nu Pagamentos.

The regulatory capital of the prudential conglomerate, defined by Brazil's Central Bank, consists of three key components:

As a Type 3 prudential conglomerate, Nu Pagamentos is subject to the capital adequacy requirements established by the BCB on a consolidated basis. The Group is in full compliance with all applicable prudential capital rules.

‌The following table presents the calculated capital ratios for the CET1, Tier 1, and the Capital Adequacy Ratio ("CAR") and outlines their minimum requirements for the prudential conglomerate under Brazil's current regulations:

Prudential conglomerate

03/31/2026

12/31/2025

Regulatory Capital

5,056,407

5,159,443

Tier I

4,276,411

4,472,543

Common equity capital

3,775,105

4,045,444

Additional

501,306

427,099

Tier II

779,996

686,900

Risk weighted assets (RWA)

33,486,264

31,141,647

Credit risk (RWA CPAD)

25,730,607

22,364,039

Market risk (RWA MPAD)

1,225,820

1,196,138

Operational risk (RWA OPAD)

4,762,275

5,941,247

Payment services risk (RWA SP)

1,767,562

1,640,223

Minimum capital required

3,516,058

3,269,873

Excess margin

1,519,907

1,889,570

CET1 ratio

11.3%

13.0%

Tier 1 ratio

12.8%

14.4%

CAR

15.1%

16.6%

Nu Mexico Financiera

As of March 31, 2026, regulatory capital was US$440,306 (US$402,002 as of December 31, 2025). This translated into a Capital ratio of 16.4% (15.4% as of December 31, 2025), above the 10.5% minimum required for Category 4 Sociedades Financieras Populares ("SOFIPO").

Nu Colombia

As of March 31, 2026, regulatory capital was US$159,652 (US$131,965 as of December 31, 2025). This translated into a Capital ratio of 17.9% (16.9% as of December 31, 2025), above the 10.5% minimum required for credit institutions in Colombia.

SEGMENT INFORMATION

In reviewing the operational performance of the Group and allocating resources, the Chief Operating Decision Maker of the Group ("CODM"), who is the Group's Chief Executive Officer ("CEO"), reviews the consolidated statement of income and comprehensive income.

The CODM considers the whole Group as a single operating and reportable segment, monitoring operations, making decisions on fund allocation, and evaluating performance. The CODM reviews relevant financial data on a combined basis for all subsidiaries.

The Group's income, results, and assets for this one reportable segment can be determined by reference to the consolidated statement of income and other comprehensive income as well as the consolidated statements of financial position.

Information about products and services

The information about products and services is disclosed in note 6.

Information about geographical area

The table below shows the revenue and non-current assets per geographical area:

Revenue (i) Non-current assets (ii)

Three-month period ended

03/31/2026

03/31/2025

03/31/2026

12/31/2025

Brazil

3,586,566

2,339,688

943,015

852,770

Mexico

289,026

147,113

65,085

60,303

Other countries

76,747

58,375

176,655

147,761

Total

3,952,339

2,545,176

1,184,755

1,060,834

Includes interest income (credit card, loan and other receivables), credit and prepaid card income, late fees, insurance commission and other fees and commission income.

Non-current assets are right-of-use assets, property, plant and equipment, intangible assets, and goodwill.

The Group had no single customer that represented 10% or more of the Group's revenues in the three-month period ended March 31, 2026 and 2025.

Disclaimer

Nu Holdings Ltd. published this content on May 14, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 14, 2026 at 21:14 UTC.