Nu Holdings Ltd.

Good afternoon, ladies and gentlemen. Welcome to the new holdings conference call to discuss the results for the fourth quarter 2021. A slide presentation is accompanied today's webcast, which is available in the news investors relations website, www.investors.new in English and www.investidores.new in Portuguese. This conference is being recorded and the replay can also be accessed on the company's IR website. This call is also available in Portuguese. To access, you can press the icon on the lower right side of your Zoom screen and then choose to enter Portuguese Room. After that, select Mute Original Audio. Para acessar nossa conferência em português, clique no ícone ao lado inferior direito da sua tela de Zoom e selecione a opção Portuguese Room. Ao acessar a nova sala, certifique-se de mutar o áudio original. Please be advised that all participants will be in listening-only mode. You may submit online questions at any time today using the Q&A box on the webcast. I would now like to turn the floor over to Mr. Federico Sandler, Investor Relations Officer at New Holdings. You may proceed.

Thank you very much, Operator. Good afternoon, everyone, and thank you for joining our earnings call today. If you have not seen our earnings release, a copy is posted in the Results Center section of our Investor Relations website. With me on today's call are David Velez, our founder, chief executive officer and chairman, Guilherme Lago, our chief financial officer, and Yousef Latik, our chief operating officer. Additionally, Jack Dugo, our chief product officer, will be joining us for the Q&A section of the call. Throughout this conference call, the company will be presenting non-IFRS financial information, including adjusted net income. These are important financial measures for the company but are non-financial metrics as defined by IFRS. Reconciliations of the company's non-IFRS financial information to the IFRS financial information are available in our earnings press release. Finally, before we begin our formal remarks, I would like to remind everyone that today's discussion might include forward-looking statements. These forward statements are not guarantees of future performance and therefore you should not put undue reliance on them. These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from the company's expectations. Please refer to the forward-looking statements disclosure in the company's earnings press release. Now, I would like to turn the call over to David Velez, our founder and CEO.

Thank you, Fede, and thank you all of you for joining us today. This is our first earnings call as a public company, and the first time we speak directly with a number of investors. We very much welcome this opportunity and look forward to a transparent and constructive dialogue with all of you over many years to come. While today we will be discussing a strong quarter with important improvements across key metrics, many of you on this call may be new to our story. So I would like to take this opportunity to talk a little bit more about new, including our values and mission, our growth strategy, and our powerful ecosystem. Subsequently, Guilherme Lago, our CFO, and Yousef Larik, our COO, We'll take you through our performance in Q4 2021, after which time we'll be happy to answer your questions. So let me start by telling you about our IPO process. Nuo was born with a mission to fight complexity to empower people. And we've been doing so relentlessly in Latin America since we were founded in 2013. However, how we accomplish our mission is just as important as accomplishing the mission itself. Our IPO was no exception. We certainly wanted to accomplish a very successful equity offering, raising approximately $2.8 billion, but we wanted to do so in a way that was aligned with our core values. Aligned with our values of always putting our customers first and working backwards from there. And aligned with our value of challenging the status quo. How have we accomplished these goals in our IPO? First, we decided that we needed to allow all of our customers to participate in it, Irrespective of the then prevailing conventional wisdom that a public equity offering targeted at Brazilian retail investors was both unnecessary and inconvenient. We structured our IPO as a concurrent dual listing in both Brazil and the US, allowing for all of our Brazilian retail customers to invest in new. It was the first such dual listing in the history of the country. Second, we decided to honor the trust placed in us since our earliest days by gifting a piece of the company in the form of one Brazilian depository receipt, a BDR, each to millions of our customers in Brazil. More than 7.5 million customers joined this program, which will help multiply the number of Brazilians financially including the investment world. It was the largest directed share program DSP ever made globally, and the innovation in capital markets did not step there. We also offer shares to our customers in Brazil, were over 800,000 made a paid reservation. These represented the largest number of retail investors to participate in a Brazilian IPO ever. The IPO marked the beginning of another chapter as we mature as a company. And most importantly, it will enable us to expand, deepen and strengthen our relationships with our customers. We could not be more excited with the opportunities ahead of us. We will continue to pursue these opportunities relentlessly. and we will continue to assess these opportunities based on their potential to accrue value to new and its shareholders in the long term. We are and will continue to be long-term focused and if needed, we'll put the long-term interests of the company ahead of short-term results. Since the very beginning, we have seen ourselves as a technology company that happens to be in financial services and not a bank that has a better website or a better app. Our strategy is focused on four main differentiating pillars. We have a mission-driven culture. We're on a mission to drive much more inclusion, competition, and efficiency into financial services in Latin America. Number two, we're a customer-obsessed company and spend a lot of time understanding customer pain points, then working backwards to build phenomenal user experiences. Number three, we're a technology company at heart. We build our own technology, including our proprietary core banking system, using our own programming language, and that ultimately gives us the ability to control our destiny, continuing to scale our platform with lower and lower costs and much more efficiency. And finally, since the beginning, we have been an AI and machine learning first company. We initially applied these technologies to a very large market, unsecured credit in Latin America. And now we have applied these capabilities to different areas of the company. We've always thought that strong competitive advantages in data science, machine learning, and AI were going to be relevant competitive modes, and we believe we maintain an edge on these fronts. These all translate into unique customer experiences that are simple, convenient, low-cost, and empowering. We have built one of the largest digital banking platforms in the world with nearly 54 million customers in Brazil, Colombia, and Mexico, and are still growing at a pace of about 2 million new customers per month. I would draw your attention to three things in the chart on this slide. First, Nu started with a credit-first approach, beginning with credit cards. Starting with credit is hard. It requires you to develop proprietary credit underwriting capabilities State-of-the-art data platform and local currency funding. But we believe it was a worthwhile path to take. Consumer credit is where 70% plus of the profit pool of the industry is. Since the launch of our company in 2013, we have navigated extremely difficult macroeconomic environments, including the largest recession in Brazil history and a pandemic. All of this has forced us to develop robust risk systems and a generally conservative underwriting approach. Second, most of our customers come to know organically through word of mouth, allowing us to scale very fast while having one of the lowest customer acquisition costs in the industry. This is a testament of the unique customer experiences we deliver. Our NPS is in the 90s, which we think is among the highest, if not the highest, in the financial services industry globally. And third, over 5 million of our customers did not have a bank account or a credit card when they became our customers. This shows that we're helping grow the size of the market We're just not simply gaining market share from incumbent players. We think of our business model as a two-part ecosystem. On one end, there are 52 million-plus consumers in Brazil, Colombia, and Mexico. And on the other end, there is 1 million-plus small businesses, or SMEs. Our products are both parts of this ecosystem and are composed of proprietary solutions that we build in-house, such as our credit cards, our personal loans, our mobile payment platforms. And also third-party solutions provided by first-class product partners, such as our insurance, secure loan, e-commerce, and digital products and services. We expect that these solutions, both products and services, will expand fast, while the two sides of the ecosystem continue to grow in both size and engagement. And we're moving fast on that front. We enhanced our marketplace initiative as we expanded our platform through strategic partnerships. We are pleased to report that we ended the year with over 20 partners across nine different verticals. During the fourth quarter, we onboarded large financial services and non-financial services players, including Magalu, Creditas, Via Varejo, and Shopee. We're also reaching important milestones in our international expansion. Our new model has proven to be exportable as we continue to beat our most optimistic forecast in our new geographies. In Mexico, we ended Q4 2021 with 1.4 million customers or over 7 million applicants and a record high NPS of over 90. We believe we have already become the largest new credit card issuer in Mexico at this time. In Colombia, the third country that is a part of our international expansion today, the results are equally encouraging as we have learned to launch in a new country more effectively and efficiently over time. NU has many different growth vectors to fuel its expansion over the coming decade. From continuing to grow our customer base to offering new products to geographic expansion. And we're in the very early innings of this journey. There is also a significant opportunity to further monetize our customer base. This will happen through both additional upsell as well as cross-sell initiatives, including proprietary and third-party products. And this monetization will be realized using a low-cost operating platform, highlighting the operating leverage of our business model. Now, I'd like to turn the call over to Guilherme Lago, CFO, and Youssef Larek, COO, who will review our performance in the fourth quarter of 2021 in more detail. Thank you.