Nu Holdings Ltd.

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 New 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 Velez, our Founder, Chief Executive Officer and Chairman, and Guilherme Lago, our Chief Financial Officer. All financial metrics discussed and presented today reflect our managerial P&L framework, which we introduced in our fourth quarter 2025 results. 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. The 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. We are aware that consensus estimates across the cell side reflect a mix of IFRS and managerial frameworks, and we encourage everyone to use the Reconciliation Report as the reference point for aligning models going forward. 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. For several years now, our results have followed the same earnings generating formula. A growing, more engaged customer base, monetized at higher RPEC, when a scalable low-cost platform translating into outsized earnings. The first quarter of 2026 was another clean expression of that model. Our customer base now stands above 135 million customers. In Brazil, we surpassed 115 million customers and solidified our position as the largest private financial institution in the country. In Mexico, we crossed 15 million customers, becoming the third largest financial institution in the market. And in Colombia, we delivered another solid quarter of net additions and are getting close to 5 million customers. Despite typical first quarter seasonality, consolidated monthly activity rate held at 83% and expanded sequentially. In Brazil, we are approaching 100 million monthly active customers. Customer growth combined with ARPAC expansion, which has expanded sequentially every quarter since we began reporting and now sits at around $16 per active customer, compounded into record revenue, reaching $5 billion for the first time in our history. The higher revenue translated into strong operating leverage in the quarter, leading to a record low efficiency ratio below 18%, a result that reflects both structural progress and some timing benefits that Lago will unpack shortly. This is happening despite our laying the foundations for our international expansion and accelerating an AI transformation that I will come back to in a few minutes. On the credit side, three things, seasonality, growth and mix, drop higher provisions. These reflect our ability to continue gaining market share with compelling and resilient unit economics and do not suggest any signs of asset quality degradation in our portfolio. Understanding this difference is key for those following high growth credit led fintechs. We delivered a Q1 historical high net income of $871 million, compounding at more than 80% a year on an FX neutral basis from 2022. With that as a backdrop, let me start with our biggest market, where we still have a long road ahead of us. Brazil is, by any measure, one of the most attractive banking markets in the world. Across just the products and segments we serve today, the addressable profit pool already exceeds $100 billion in annual gross profit and is expected to keep showing healthy growth for years to come. As we expand our product shelf and deepen customer engagement, that profit pool becomes even larger. Even after a year of meaningful share gains, it's still day one for Nubank in Brazil. Our share of that pool stands at roughly 7%, even though we're already the largest private financial institution in Brazil by customer base, with the strongest brand and the highest customer satisfaction scores. And in our second largest market, the runway is even bigger. The opportunity in Mexico is, in many ways, where Brazil was a decade ago. The profit pool of the products we want to serve consumers with already exceeds $40 billion in annual gross profit and is growing faster than most major banking markets in the world. The banking system in Mexico remains structurally underpenetrated. Cash still dominates everyday transactions. Less than half of adults hold a formal credit product and a meaningful portion of the population still lacks access to banking. Our share of that profit pool is still below 1% today, a fraction of where we are in Brazil and a fraction of where we believe we can go. What makes this opportunity particularly compelling is the dual dynamic at play. We're not only taking share of the existing pie, we're also helping grow it, bringing simple, digital, transparent financial products to broader segments of the population that have historically been left out of the formal banking system. That combination is what gives us such a long horizon ahead, and the proof of that thesis is already starting to show up in the numbers. The same earnings-generating formula I described at the start of our remarks is now unfolding in Mexico, only earlier in its curve. In four years, our customer base there has grown from just over 2 million to 15 million today, roughly seven times larger. ARPAC has nearly doubled, even as we have onboarded millions of newer, less mature customers. Our efficiency ratio has come down by 78 percentage points. And on the bottom line, we have moved from a $30 million quarterly loss to our first quarter of IFRS profitability, a milestone that arrived ahead of our own internal plan. Underpinning our operations in Latin America, including Brazil, Mexico and Colombia, in what we believe will further accelerate our impact in the region for years to come, is the AI technology shift I referenced at the start of our remarks. Our ongoing AI transformation is a core priority of Nu. Some companies see AI as a productivity enhancement tool. That is useful, but it is not the real opportunity in our view. AI transformation is something different. It means redesigning from the ground up how financial products and services are manufactured, and possibly distributed. There is a parallel here to the bet we made when we started NuBank a little over a decade ago. We did not digitize a branch. We built a bank without branches. We are applying the same logic to AI. We are not just adding AI to banking. We are rebuilding banking around AI. This transformation is already underway and unfolding in three phases at different stages of progress. The first phase, AI assistance, is largely complete. We are reaching close to 100% utilization of AI tools among our employees across all functions of the organization. This enablement is driving productivity gains across the company, with engineering throughput up over 50% year-over-year, weekly token consumption nearly 10 times higher than at the start of the year, and testing cycles 90% faster. The second phase, workflow reinvention, is in motion. The principle is simple. AI executes, humans hold judgment. Customer journeys are being rebuilt end-to-end and new AI-native customer experiences will reach our customers this year, deepening engagement and expanding monetization. A number of teams at Nubank are already working on products and features that we had originally planned to launch only in mid-2027. The third phase, the AI-native bank, is still early but the foundations are visible. AI private banker functionalities such as financial insights, payments, credit advice, and debt resolution across the app are already serving more than 15 million monthly active users. Nuformer, our set of proprietary foundation models, are in production today for credit card decisioning in Brazil and Mexico and for unsecured lending in Brazil. We're now able to use real-time AI valuation for every personal loan request, priced and approved individually based on its predictive net present value, in under one second. These capabilities have been a meaningful driver of the significant expansion in our credit portfolio over the last 12 months, enabling us to grow limits with resilience, not just speed. And we believe Nu is uniquely positioned to win an AI-accelerated world, anchored by three structural advantages. First, our scaled first-party data. 135 million customers transacting on our platform every day, generating one of the largest, cleanest and most differentiated financial datasets in the world. Second, our proprietary technology stack, cloud-native with core banking systems built internally, data unified across the company, and the ability to move from experiment to production in days rather than quarters. Third, our talent and culture, a world-class bench of employees from more than 50 nationalities with offices across six countries, all working under a single AI mandate, and one we keep reinforcing with the resident appointment of Carl Rivera as our new Chief Product Officer. AI is not an experiment at Nubank. It is reshaping how we build, how we decide, and how we deserve, and we're still very early in what this transformation will eventually deliver. Taken together, this is the model we're running in 2026, deepening Brazil from a position of leadership, scaling Mexico and Colombia through their inflection points, and making AI compound through every layer of the company, including investing further in our internationalization plans. With that, I hand it over to Lago, our CFO, to walk you through the financial highlights of the quarter. Over to you, Lago.