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BRBI benefits from its leadership in the Brazilian investment banking sector, with strong rankings in M&A advisory and capital markets transactions. The company's diversified revenue streams across advisory, treasury, investments, and capital remuneration provide multiple growth avenues. Its client-centric approach and extensive network with family offices and institutional investors enable access to unique investment opportunities. The initiation of wealth management operations in 2023 adds a new dimension to its service offering. Effective liquidity and risk management policies support operational stability in a complex macroeconomic environment.

BRBI faces risks related to the Brazilian macroeconomic environment, including interest rate fluctuations and market volatility that can impact its portfolio and liquidity. The company's cash flow from operations was negative in 2025, reflecting increased bond acquisitions, which may affect short-term liquidity. Regulatory changes in Brazil or foreign investment rules could impose additional compliance burdens. As a controlled company under Nasdaq rules, certain corporate governance protections for shareholders may be limited. Competition in the investment banking and wealth management sectors may pressure margins and client retention.

BRBI's moat is supported by its established position as a leading independent investment bank in Brazil, recognized by Bloomberg rankings in M&A advisory. Its integrated financial advisory platform and diversified business lines provide a broad service offering to a varied client base. The company's extensive relationships with Brazilian family offices, institutional investors, and entrepreneurs facilitate access to proprietary investment opportunities. Regulatory compliance and governance aligned with both Brazilian and Nasdaq standards contribute to operational stability. The firm's risk management and liquidity policies further support its resilience in the Brazilian financial market environment.

• Macroeconomic and Market Risk: Exposure to Brazilian interest rate fluctuations and market volatility can impact the value of financial assets and liquidity.
• Liquidity Risk: Negative cash flow from operating activities in 2025 due to increased acquisitions of government bonds may affect liquidity management.
• Regulatory Risk: Changes in Brazilian securities laws, foreign investment regulations, or Nasdaq governance requirements could affect operations and compliance costs.
• Governance Risk: As a controlled company, BRBI may not comply with all Nasdaq corporate governance requirements, potentially limiting shareholder protections.
• Competitive Risk: Competition in investment banking, capital markets, and wealth management could impact revenue growth and client relationships.

• BRBI BR Partners S.A. is an independent Brazilian investment bank managed by executive partners, operating primarily in Brazil.
• The company is publicly listed and registered with the Brazilian Securities and Exchange Commission (CVM) and its ADSs are listed on the Nasdaq Capital Market under the ticker BRBI.
• BRBI operates under Brazilian securities laws and regulations, including governance and disclosure requirements applicable to publicly listed companies in Brazil.
• The company is classified as a 'controlled company' under Nasdaq rules but currently relies on exemptions for foreign private issuers to follow home country governance practices.
• BRBI's corporate purpose is to hold equity interests in other companies and manage its own assets.
• Shareholders' meetings are governed by Brazilian Corporations Law, with specific quorum and voting requirements.
• BRBI has four key business lines generating revenue: (1) Investment Banking and Capital Markets, (2) Treasury Sales & Structuring, (3) Investments and Wealth Management (initiated in September 2023), and (4) Capital Remuneration.
• Investment Banking and Capital Markets provide advisory services in M&A, fundraising, restructuring, and capital markets transactions.
• Treasury Sales & Structuring advises and executes foreign exchange, derivatives, and sureties, and manages treasury and asset-liability management.
• Investments and Wealth Management focus on illiquid asset classes, minority transactions, investment vehicle structuring, and wealth management services for high-income clients.
• Capital Remuneration concentrates revenues from loan portfolios and remunerates capital used by other business areas.
• The company had 188 full-time employees as of December 31, 2025.
• BRBI's financial results for the year ended December 31, 2025, include total interest revenues of approximately R$1,984 million and total interest expenses of approximately R$2,000 million.
• Revenue by business line for 2025 was approximately R$304 million from Investment Banking and Capital Markets, R$87 million from Treasury Sales & Structuring, R$16 million from Investments and Wealth Management, and R$125 million from Capital Remuneration.
• Operating expenses decreased by 12.6% to R$298.7 million in 2025 compared to 2024.
• Profit before income tax decreased by 2.8% to approximately R$175 million in 2025 compared to 2024.
• The company maintains a portfolio of inflation swaps linked to Brazilian government bonds and uses repurchase agreements to mitigate market risk.
• BRBI has policies and tools to manage liquidity risk, including daily monitoring and liquidity buffers, with access to funding from banks and investors.
• Cash flow from operating activities was negative R$424.7 million in 2025, compared to positive R$90.2 million in 2024, mainly due to increased acquisitions of government bonds.
• Cash used in investing activities decreased to R$0.6 million in 2025 from R$2.8 million in 2024.
• Cash used in financing activities was R$51.6 million in 2025 compared to cash generated of R$154.6 million in 2024.
• Shareholders are entitled to a non-cumulative mandatory minimum dividend of 25% of adjusted profit, subject to board approval and financial situation.
• The company had 256,765 ADSs outstanding as of December 31, 2025.
• BRBI's client base primarily comprises large companies, institutional investors, and high-net-worth individuals.
• The company is subject to Brazilian foreign investment regulations and capital market rules, including registration and reporting requirements for foreign investors.