Inter & Co. Inc.

Good morning, everyone. I'm Rafaela Vitória, Interest IR Officer, and I would like to welcome all to Interest Second Quarter 2025 Earnings Conference Call. First of all, some instructions. This call is also available in Portuguese. To access it, press the globe icon on the lower right side of your Zoom screen, then select the Portuguese room. Please be advised that all participants will be in listen-only mode and that the conference is being recorded. You may submit online questions at any time today using the Q&A box on the webcast. A replay will be available at the company's IR website. With me on today's call are João Vitor Menin, Interest Global CEO, Alexandre Rício, Brazil CEO, and Santiago Stel, Senior Vice President and CFO. Throughout this conference call, we'll be presenting non-IFRS financial information. These are important financial measures for the company, but are not financial measures as defined by the IFRS. Reconciliations to the company's non-IFRS to the IFRS financial information are available in our earnings relief and earnings presentation appendix. I would also like to remind everyone that today's discussion might include forward-looking statements, which are not guaranteed of future performance. Please refer to the forward-looking statements disclosure in the company's earnings release and earnings presentation. Today, João will discuss interest strategy and business overview. After that, Alexandre and Santiago will take you through our financial and operating results in more detail. We'll then open the call for questions. I'll now turn the call over to João. João, please go ahead.

Thank you, Rafa. Good morning, everyone. Today, I'm happy to share that we had another quarter of solid results. I'm also excited about our progress, as we keep innovating and making the client experience better, every day. Inter was designed with a clear focus. From the beginning, we choose to offer sustainable credit options, for us and for our clients. We also worked hard to diversify our source of fees and to build a strong funding franchise. Because of this choice, our profitability has compounded quarter after quarter. For the last 10 quarters, we have drawn our profits in a consistent way. This compounding effect gives us a solid foundation for the future, and we plan to keep building on it. What gets me really excited is, in addition to deliver increasing profits, we are building long-term value for our stakeholders. This quarter, we deliver two features that exemplifies this value creation. One on the asset side and another one on the funding side. Let's start with MyCredit. This is a new journey inside our app. to help clients build a healthy credit relationship with Inter. Our goal is to expand credit access in a safe and responsible way. With MyCredit, clients can now track their scores with us directly in the app. This is much more transparent than what you usually see in Brazilian banks, where your score is often hidden. Through MyCredit, clients can take steps to improve their scores and unlock higher limits, all in clear states. This feature is not just for those who are behind on payments and want to rebuild their credit. It is also for clients who want to improve their scores and plan their finances better. We believe MyCredit is a strong tool for financial education, and it will help us grow in credit penetration in a sustainable and healthy way. Now, moving on the funding side, we have launched my Piggy Bank by Savings Goals. With this new feature, clients can organize their savings for a specific purpose, like buying a new car, planning a vacation, or getting a new smartphone. It is a simple way for people to take control of their future. The response has been excellent. In less than one month, over 425,000 clients have used this feature, creating more than 520,000 savings goals. This shows how engaged our users are and the strength of our platform. For example, if a client is saving for a new smartphone, we can offer a special promotion from Intershop and send tailored communications. If someone is saving for a new home, we can present our mortgage solutions. By understanding our clients' goals, we can offer the right products at the right time. This is a powerful tool for monetization, as it drives cross-sell across our verticals. Features like my piggy bank by saving goals and my credit show how we listen to our clients and bring useful solutions for their everyday lives. By doing that, we were able to continuously grow our client base. Just a few days ago, we reached 40 million clients. This is a clear sign of the trust people place in our platform. We know this trust will keep growing as we deliver real value to our clients. That's why user experience is always at the center of what we do. Every interaction must be simple, intuitive, and enjoyable. This approach has helped us build a strong brand. We're proud that Inter was named the seventh most powerful brand in Brazil and the number one banking brand for Gen Z. These achievements tell us that we are on the right path. We want to create lasting and meaningful relationships with our clients. We are very grateful for their trust. Now, Xande and Santi will walk you through the quarterly results.

Xande, please go ahead. Thank you, João. It's incredibly exciting to see 40 million clients embracing our platform and joining us on this journey. The strength of our brand is rooted in the close relationship we've built with our customers. Our Net Promoter Score remains firmly in the Excellence Zone at 85 points. We also continue to receive outstanding feedback with ratings of 4.9 in the Apple Store and 4.8 in the Play Store. These numbers aren't just statistics. They reflect the trust and engagement of real users who interact with our platform every day. In June, we saw nearly 19 million daily logins. and we now process over 780 million financial transactions each month. All these achievements highlight the high level of engagement our clients have with our ecosystem, as well as the value and synergy we create across our seven verticals. Moving to the next slide, let me start by highlighting our ongoing robust client growth. We've consistently added 1 to 1.1 million active clients each quarter, showing how attractive and relevant our platform is to millions of people. Our activation rate has reached 57.7, with a clear upward trend towards 60%, driven by continuous improvements in marketing, onboarding, and personalized experiences. Our private per payroll loan is helping us reactivate former clients and attract new active users from day one. On the business side, our client base grew 19% year-over-year to 2.4 million accounts, with strong engagement and rising RPAC levels. These achievements demonstrate the power of our platform and our commitment to delivering innovation and value. Moving to the next page, when we look at banking performance, we see strong momentum. Total payment value grew by 33% year-over-year and reached 374 billion reais, a new record high. PIX was a major driver, accounting for 346 billion reais and achieving an 8.2% market share. On the chart on the right, we can see that TPV levels keep rising across all cohorts, with the darker lines representing our newest clients. These cohorts are transacting even more intensely and at a faster pace, showing higher engagement levels from the beginning. These results highlight the growing engagement of our users and the power of our platform to drive sustainable, high-quality transactional growth. Moving to the next page, we see that we had a strong quarter in credit across both secured and unsecured products. Credit penetration among active clients continues to climb, now reaching 33.8%. This healthy and sustainable growth is underpinned by initiatives such as the Pi Credit journey that João presented, as well as our monthly credit reassessments to make sure we're supporting our clients. A standout highlight this quarter is our private payroll loan portfolio, which soared to R$728 million and now serves 153,000 clients. This success demonstrates the strength of our digital distribution and how seamlessly this product fits into our strategy, truly inter-buy design. Real estate lending also continues to perform exceptionally well. Despite a high interest rate environment, our portfolio grew 37% year-over-year, reaching home equity loans. In the last quarter, I shared our focus on reshaping our credit card portfolio. We're continuing to increase the share of installment products that help clients organize their financial liabilities. Santi will provide more details on our strong and balanced loan book performance in the next session. all together these results reinforce the effectiveness of our credit strategy and our commitment to delivering sustainable high quality growth across all of our lending products moving to the next page Let's now look at the strong performance of our other verticals. Investments continue to deliver impressive results, reaching 7.9 million active clients, a growth of 38% year-over-year. This was fueled by the success of MyPiggyBank, with its new Savings Goals feature driving high engagement. As a result, assets under custody grew by 47% year-over-year. Insurance adoption continues to rise, reaching 10 million active contracts, up 272% year-over-year. This reflects the success of our fully integrated offering across other verticals, including e-commerce and banking. In shopping, our in-app e-commerce platform We saw our net take rate increase to 7.6%, while GMV grew 9%. Additionally, 9.3% of our total GMV was converted into buy now, pay later, highlighting our ecosystem's strong cross-selling power. Finally, in loyalty, our client base grew 64% year-over-year to 13.6 million. members of our loyalty program are highly engaged, transacting three times more than non-members and using more products across our platform. These results show how each vertical not only grows individually, but also drives greater engagement and value through integration within our ecosystem. Our global front, in the next page, continues to accelerate with a remarkable result this quarter. The number of global account clients grew 34% year-over-year, reaching 4.4 million. We also had a record performance in deposits, which surpassed $294 million this quarter, up 90% year-over-year, marking our best-ever quarterly growth. This vertical is becoming increasingly relevant for our clients, whether they're traveling, diversifying their investments internationally, or doing business abroad. This significant deposit growth is a clear sign of the scale and importance we have achieved with our global account offering. These results confirm that our global platform is not only gaining traction, but also building real materiality for Inter and our clients around the world. To wrap up on the next slide, I want to highlight our continued and impressive market share gains across some of the key markets we participate. Quarter after quarter, we see tangible progress in both our credit and fee-based businesses. This momentum is a result of giving our clients real access to our complete range of solutions, which increases our share of wallet and compounds the positive impact on engagement. Our strong performance in market share demonstrates not only our capacity to attract new clients, but also to deepen relationship with existing ones, showing the strength and relevance of our platform. I'm confident that we'll continue strengthening our position and capturing even more opportunities ahead. With that, I'll hand it over to Santi, who will share more about our financial performance.