Nu Holdings Ltd.

Good evening, ladies and gentlemen. Welcome to New Holdings Conference call to discuss the results for the fourth quarter of 2025. A slide presentation is accompanying today's webcast, which is available in New's Investor Relations website, www.investors.new in English and www.investidores.nu 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 globe icon on the lower right side of your Zoom screen and then choose to enter the Portuguese room. After that, select Mute Original Audio. Para acessar nossa conferência em português, clique no ícone do globo ao lado inferior direito da sua tela 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 a listen-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 call over to Mr. Guilherme Souto, Investor Relations Officer at Newt Holdings. Mr. Souto, you may proceed.

Thank you, operator, and thank you, everyone, for joining our earnings call today. With me on today's call are David Valles, our founder, Chief Executive Officer and Chairman, and Guilherme Lago, our Chief Financial Officer. Starting with this quarter's result, we're introducing a new managerial reporting framework, including managerial indicators and our managerial P&L. All financial metrics discussed and presented today reflect this framework. Lago will provide additional details during his presentation. These managerial measures are important to how we manage the business, but are not financial measures as defined under IFRS and may not be comparable to other companies. A full reconciliation to the most directly comparable IFRS figures is available in our managerial P&L reconciliation report and in the appendix to this presentation. Unless otherwise noted, all growth rates discussed today are presented on an year-over-year FX neutral basis. Today's discussion may include forward-looking statements which are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those expressed or implied. Please refer to the forward-looking statements disclosure included in this earnings presentation for additional information. With that, I will now turn the call over to Davi. Please, go ahead, Davi.

Hello, everyone, and thank you for joining us today. 2025 was a fantastic year for Nubank, and Q4 2025 truly showed the strength of our business model. During the year, effectively most of our key indicators, from customer love to scale, engagement, and profitability, moved in the right direction, while we continued to invest significantly on long-term growth. We closed the year with 131 million customers, adding 17 million net new customers, and maintaining an activity rate of 83%. Scale and engagement remain the foundation of our model. ARPAC reached $15 per active customer, up approximately 9% quarter over quarter and 27% year over year, driven by deeper monetization across our platform. As a result of strong customer growth in higher ARPAC, revenues in Q4-25 reached $4.9 billion, up 45% year over year. Gross profit in the same period reached nearly $2 billion, up 38% year over year. At the same time, we maintained discipline with an efficiency ratio of 20% under the new methodology, even as we continued investing in our core markets and new technologies. Net income reached $895 million, translating into a record 33% return on equity, while maintaining strong capital buffers and scaling our credit portfolio responsibly. These results reflect the priorities we set and the discipline of execution throughout the year. One way to see this execution is to look at what we put in customers' hands. Across our markets, we launched more than 100 new products and features. More important than the number was the intent. Each launch aimed to deepen engagement, expand access, and strengthen unit economics. Individually, these initiatives are incremental. At scale, they compound. In payments, we evolved PIX with AI-enabled features, launched instant payments in Colombia, and expanded Mexico's cash-in and cash-out network to more than 30,000 physical points. In credit, we expanded responsibly, launching new payroll loan modalities in Brazil, the subscription-based credit card in Colombia, and rolling out programs like Fresh Start to help engage customers regain access to credit. We also introduced the under-18 credit card, beginning to build financial relationships earlier in customers' lives. On the affluent segment, Ultravioleta continued to strengthen our value proposition. For SMEs, we scaled credit products and launched tools like charging assistant to help small businesses manage cash flow. Behind this execution was a clear set of priorities guiding our allocation of capital and talent throughout the year. As you may recall, our top priority is to build the largest and most loved retail banking franchise in Latin America. In 2025, we made measurable progress across all three markets. In Brazil, we became the largest private financial institution by number of customers, reaching 113 million with an activity rate of 86%. Scale and engagement continue to reinforce each other. In Mexico, we reached 14 million customers, advanced our banking license process, and roughly half of our customers received their first credit card through NU, reinforcing our role in expanding access to credit. In Colombia, we surpassed 4 million customers, and the subscription-based credit card significantly increased approval rates while maintaining healthy unit economics. In our digital ecosystem, we reach over 12 million unique active customers across initiatives such as new sell, new pay, and new travel. Adoption remains early relative to our base, but growth and satisfaction indicators are compelling. When AI and global expansion, our foundation model new former is now in production for credit decisioning in Brazil and in testing across additional use cases. AI is already improving underwriting, conversion, and service quality, with peaks with AI surpassing 10 million monthly active users. In January, we also received conditional approval from the OCC for a U.S. national bank charter. Overall, we deliver on our 2025 priorities while strengthening the foundation for what comes next. Let me now turn to how we're thinking about 2026. As we enter 2026, we see this as an inflection year, the year we begin transitioning from a Latin American leader to a global digital banking platform. Our priorities are organized around three pillars. First, winning in our core markets. Brazil and Mexico will continue to absorb the majority of our capital and management attention. In Brazil, we will deepen leadership in the mass market, expand share of wallets and ARPAC, strengthen small businesses, and grow our high-income presence through ultravioleta. In Mexico, finalizing our banking license process is critical as it unlocks the next phase of credit growth and customer depth. In Colombia, we will continue scaling credit and bringing a number of new products. Across all three markets, our focus remains on experience, principality, and monetization. Second, strengthen foundations for international expansion. During 2026, we will lay the operational groundwork for our U.S. opportunity, building on the conditional bank charter approval. Latin America remains our primary growth engine. Third, AI as a superpower. We will expand Nuformer to lending in Brazil and credit cards in Mexico and continue putting AI directly into customers' hands, moving closer to our long-term vision of an AI-powered personal banker in every customer's pockets. With that context, I'll hand it over to Lago to walk through the quarter's financial results.