EX-99.1 2 a032025_en-isa.htm EX-99.1

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			Unaudited interim condensed consolidated financial statements As of March 31, 2025

Unaudited interim condensed consolidated financial statements
Management report
Independent Auditor's Report
Unaudited interim condensed consolidated balance sheets									5
Unaudited interim condensed consolidated statements of income									6
Unaudited interim condensed consolidated statements of comprehensive income									7
Unaudited interim condensed consolidated statements of cash flows									8
Unaudited interim condensed consolidated statements of changes in equity									9
Notes to the unaudited interim condensed consolidated financial statements									10
			Note 1			Activity and structure of Inter & Co, Inc. and its subsidiaries			10
			Note 2			Basis for preparation			10
			Note 3			New Accounting Standards Recently Issued			12
			Note 4			Material accounting policies			13
			Note 5			Operating segments			14
			Note 6			Financial risk management			17
			Note 7			Fair values of financial instruments			25
			Note 8			Cash and cash equivalents			28
			Note 9			Amounts due from financial institutions, net of provisions for expected credit losses			28
			Note 10			Securities, net of provisions for expected credit losses			29
			Note 11			Derivative financial instruments			31
			Note 12			Loans and advances to customers, net of provisions for expected credit losses			33
			Note 13			Property and equipment			36
			Note 14			Intangible assets			37
			Note 15			Other assets			38
			Note 16			Liabilities with financial and similar institutions			38
			Note 17			Liabilities with customers			38
			Note 18			Securities issued			38
			Note 19			Borrowings and on-lending			39
			Note 20			Tax liabilities			39
			Note 21			Provisions and contingent liabilities			39
			Note 22			Other liabilities			41
			Note 23			Equity			42
			Note 24			Net interest income			43
			Note 25			Income from securities, derivatives and foreign exchange			43
			Note 26			Net revenues from services and commissions			44
			Note 27			Other revenues			44
			Note 28			Impairment losses on financial assets			44
			Note 29			Administrative expenses			44
			Note 30			Personnel expenses			45
			Note 31			Tax expenses			45
			Note 32			Current and deferred income tax and social contribution			45
			Note 33			Share-based payment			47
			Note 34			Transactions with related parties			52
			Note 35			Subsequent events			53

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			Unaudited interim condensed consolidated financial statements As of March 31, 2025

Management report

Inter & Co, Inc.

Inter & Co, Inc (the Company and, together with its consolidated subsidiaries, the Group) is a holding company incorporated in the Cayman Islands, with limited liability. The Company's shares has its shares listed on Nasdaq, the North American stock exchange, with the ticker INTR, and BDRs listed on B3 with the ticker INBR32. Inter&Co is the controlling company of the group Inter and indirectly holds all the shares in Banco Inter.

Inter

Inter provides e-commerce and financial services, with solutions offered in a single digital ecosystem that includes a complete range of banking services, investments, credit, insurance, and cross-border banking, as well as a marketplace that brings together the largest retailers in Brazil and in the United States.

Operating highlights

Customers

As of March 31, 2025 we surpassed a total of 37.7 million customers. The activation rate reached 57.2%, an increase of 2.3 percentage points when compared to December 31, 2024.

Loan Portfolio

The balance of loan operations reached R$37.4 billion, representing a positive variation of 5.1% compared to December 31, 2024.

Fundraising

Total funding, which includes demand deposits, term deposits, savings deposits and securities issued, such as real estate credit notes and financial notes, totaled R$54.3 billion, 3.1% higher than the amount recorded on December 31, 2024.

Economic and financial highlights

Profit (loss) for the period

As of March 31, 2025, we achieved profit of R$306.8 million, representing an increase of 57.1% compared to the same period of 2024.

Revenues

As of March 31, 2025, revenues reached R$1,837.8 million, marking an increase of 31.2% compared to the same period of 2024.

Administrative expenses

Accumulated administrative and personnel expenses incurred as of March 31, 2025, totaled R$(763.1) million, an increase of 30.3% compared to the same period of 2024.

Equity highlights

Total assets

Total assets reached R$80.6 billion as of March 31, 2025, an increase of 5.4% compared to December 31, 2024.

Shareholder’s equity

Shareholder’s equity totaled R$9.0 billion, an decrease of (0.7)% compared to December 31, 2024.

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			Unaudited interim condensed consolidated financial statements As of March 31, 2025

Relationship with the independent auditors

The Company has a policy with requirements for contractual risk analysis which defines that the Board of Directors must evaluate the transparency, objectivity, governance aspects and the compromising of the independence of the contract, thus ensuring conformity between the parties involved. Additionally, it has an Audit Committee which, among its responsibilities and competencies, in addition to providing opinions and recommendations on the audit service provider, also evaluates the effectiveness of the independent and internal audits, including with regard to the verification of compliance with legal provisions and regulations applicable to Inter, as well as internal policies and codes.

Furthermore, Inter&Co, Inc. confirms that KPMG Auditores Independentes Ltda. has procedures, policies, and controls in place to ensure its independence, which include an evaluation of the work provided, covering any service other than the independent audit of Company's financial information. This evaluation is based on the applicable regulations and accepted principles that preserve the auditor's independence. The acceptance and performance of non-audit professional services on the financial Information by its independent auditors during the period ended as of March 31, 2025 did not affect the independence and objectivity in the conduct of the audit work performed at Inter & Co, Inc. Information related to independent auditors' fees is made available annually in the reference form.

Acknowledgment

We would like to thank our shareholders, customers, and partners for their trust, as well as each of our employees who build our history each day.

Belo Horizonte, May, 09 2025.

The Management

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KPMG Auditores Independentes Ltda
Rua Paraíba, 550 - 12º andar - Bairro Funcionários
30130-141 - Belo Horizonte/MG - Brasil
Caixa Postal 3310 - CEP 30130-970 - Belo Horizonte/MG - Brasil
Telefone +55 (31) 2128-5700
kpmg.com.br

Independent auditors' report on review of the condensed

consolidated interim financial information

To the Shareholders, Board of Directors and Management of

Inter & Co, Inc

Cayman Islands

Introduction
We have reviewed the condensed consolidated interim financial information of Inter & Co, Inc. ("Company"), as of March 31, 2025, which comprise the balance sheet as of March 31, 2025, and the statements of profit or loss, comprehensive income, changes in equity and cash flows for the three-month period then ended, including the notes. Management is responsible for the preparation and presentation of this condensed consolidated interim financial information in accordance with IAS 34 Interim Financial Reporting, issued by the International Accounting Standards Board – (IASB). Our responsibility is to express a conclusion on this condensed consolidated interim financial information based on our review.
Scope of review
We conducted our review in accordance with Brazilian and international review standards on interim financial information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of people responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with standards on auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion on the condensed consolidated interim financial information
Based on our review, nothing has come to our attention that causes us to believe that the condensed consolidated interim financial information referred to above is not prepared, in all material respects, in accordance with IAS 34 - Interim Financial Reporting.

Belo Horizonte, May 09, 2025

KPMG Auditores Independentes Ltda.

CRC SP-014428/O-6 F-MG

Original report in Portuguese signed by

Marco Antonio Pontieri

Accountant CRC 1SP153569/O-0

KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of KPMG's global organization of independent member firms licensed by KPMG International Limited, a private English company limited by guarantee.						KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

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			Unaudited interim condensed consolidated balance sheet As of March 31, 2025 and December 31, 2024 (Amounts in thousands of Brazilian reais, unless otherwise stated)

			Note						03/31/2025						12/31/2024
Assets
Cash and cash equivalents			8						1,458,588						1,108,394
Amounts due from financial institutions, net of provisions for expected credit losses			9						6,595,073						6,194,960
Deposits at Central Bank of Brazil									5,648,238						5,285,402
Securities, net of provisions for expected credit losses			10						24,703,003						23,899,551
Derivative financial assets			11						8,163						563
Loans and advances to customers, net of provisions for expected credit losses			12						35,088,280						33,327,355
Non-current assets held for sale									257,696						234,611
Equity accounted investees									10,401						10,401
Property and equipment			13						359,211						369,942
Intangible assets			14						1,925,819						1,836,053
Deferred tax assets			32.c						1,848,861						1,705,054
Other assets			15						2,655,231						2,486,145
Total assets									80,558,566						76,458,430
Liabilities
Liabilities with financial and similar institutions			16						13,807,683						11,319,577
Liabilities with customers			17						43,647,768						42,803,229
Securities issued			18						10,697,969						9,890,219
Derivative financial liabilities			11						5,863						70,048
Borrowings and on-lending			19						397,953						128,924
Tax liabilities			20						461,725						574,429
Income tax and social contribution									350,164						462,501
Other tax liabilities									111,561						111,928
Provisions			21						223,950						155,262
Deferred tax liabilities			32.c						107,423						61,503
Other liabilities			22						2,195,382						2,382,932
Total liabilities									71,545,716						67,386,123
Equity
Share capital			23.a						13						13
Reserves			23.b						9,901,230						9,793,992
Other comprehensive loss			23.c						(985,968)						(898,830)
Treasury shares			23.h						(14,719)						—
Equity attributable to owners of the Company									8,900,556						8,895,175
Non-controlling interest			23.f						112,294						177,132
Total equity									9,012,850						9,072,307
Total liabilities and equity									80,558,566						76,458,430

The explanatory notes are an integral part of the unaudited interim condensed consolidated financial statements

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			Unaudited interim condensed consolidated statements of income For the three-month period ended March 31, 2025 and 2024 (Amounts in thousands of Brazilian reais, except for earnings per share)

			Note						03/31/2025						03/31/2024
Interest income			24						1,806,870						1,217,531
Interest expenses			24						(1,179,020)						(762,247)
Income from securities, derivatives and foreign exchange			25						734,744						537,138
Net interest income and income from securities, derivatives and foreign exchange									1,362,593						992,422
Net revenues from services and commissions			26						459,924						374,340
Expenses from services and commissions									(40,811)						(34,022)
Other revenues			27						56,093						68,201
Revenues									1,837,800						1,400,941
Impairment losses on financial assets			28						(513,681)						(411,048)
Administrative expenses			29						(528,200)						(395,244)
Personnel expenses			30						(234,873)						(190,463)
Tax expenses			31						(136,056)						(86,331)
Depreciation and amortization									(67,445)						(41,900)
Share of the profit or loss of associates and joint ventures accounted for using the equity method									—						(2,223)
Profit before income tax									357,545						273,732
Income tax			32						(50,759)						(78,512)
Profit for the period									306,786						195,220
Profit attributable to:
Owners of the Company									286,589						182,793
Non-controlling interest									20,197						12,427
Earnings per share
Basic earnings per share			23.e						0.65						0.43
Diluted earnings per share			23.e						0.65						0.43

The explanatory notes are an integral part of the unaudited interim condensed consolidated financial statements

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			Unaudited interim condensed consolidated statements of comprehensive income For the three-month period ended March 31, 2025 and 2024 (Amounts in thousands of Brazilian reais, unless otherwise stated)

																		03/31/2025						03/31/2024
Profit for the period																		306,786						195,220
Other comprehensive income
Items that are or may be reclassified subsequently to the income statement:
Changes in fair value - financial assets at FVOCI																		97,949						(94,809)
Related tax - financial assets FVOCI																		(44,061)						42,662
Net change in fair value - financial assets at FVOCI																		53,888						(52,147)
Fair value change - investments in operations abroad																		(1,194)						(7,620)
Tax effect																		(35,320)						5,931
Hedge of net investments in operations abroad																		(36,514)						(1,689)
Foreign exchange differences on the translation of foreign operations																		(104,512)						18,073
Other comprehensive income (loss) that may be reclassified subsequently to the income statement																		(87,138)						(35,763)
Total comprehensive income for the period																		219,648						159,457
Allocation of comprehensive income
To owners of the company																		199,451						147,030
To non-controlling interest																		20,197						12,427

The explanatory notes are an integral part of the unaudited interim condensed consolidated financial statements

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			Unaudited interim condensed consolidated statements of cash flows For the three-month period ended March 31, 2025 and 2024 (Amounts in thousands of Brazilian reais, unless otherwise stated)

						03/31/2025						03/31/2024
Operating activities
Profit for the year						306,786						195,220
Adjustments to profit (loss)
Depreciation and amortization						67,445						41,900
Result of equity interests in associates						—						2,223
Impairment losses on financial assets						513,681						411,048
Expenses with provisions for contingencies						11,761						9,534
Income tax and social contribution						50,759						78,512
Provisions/ (reversals) for loss of assets						(10,766)						(42,343)
Capital gains (losses)						1,952						(3,255)
Provision for performance income						(9,130)						(24,264)
Effect of the exchange rate variation on cash and cash equivalents						(16,485)						(21,756)
(Increase)/ decrease in:
Deposits at Central Bank of Brazil						(362,836)						(261,243)
Loans and advances to customers						(2,137,078)						(1,337,505)
Amounts due from financial institutions						(400,438)						(332,782)
Securities						(178,376)						(373,610)
Derivative financial assets						(7,600)						(3,154)
Non-current assets held for sale						(23,085)						642
Other assets						(86,685)						(454,250)
Increase/ (decrease) in:
Liabilities with financial and similar institutions						2,488,106						960,618
Liabilities with customers						844,539						(8,176)
Securities issued						807,750						154,100
Derivative financial liabilities						(65,379)						(1,170)
Borrowings and on-lending						269,029						(5,392)
Tax liabilities						(298,391)						52,270
Provisions						56,927						(9,983)
Other liabilities						(405,446)						(95,324)
Income tax paid						(74,086)						(64,329)
Net cash from operating activities						1,342,954						(1,132,469)
Cash flow from investing activities
Acquisition of property and equipment						(6,602)						(21,405)
Acquisition of intangible assets						(141,423)						(93,572)
Acquisition of financial assets at FVOCI						(3,379,192)						(2,071,379)
Proceeds from sale of financial assets at FVOCI						2,887,496						1,081,628
Acquisition of financial assets at amortized cost						(89,040)						(30,060)
Proceeds from sale of financial assets at amortized cost						8,023						42,134
Net cash used in investing activities						(720,738)						(1,092,654)
Cash flow from financing activities
Capital increase						—						782,037
Dividends and interest on shareholders' equity paid						(208,146)						(2,271)
Repurchase of treasury shares						121						(16,409)
Resources to non-controlling interest						(80,482)						10,941
Net cash from (used in) financing activities						(288,507)						774,298
Increase/(Decrease) in cash and cash equivalents						333,709						(1,450,825)
Cash and cash equivalents at the beginning of the period						1,108,394						4,259,379
Effect of the exchange rate variation on cash and cash equivalents						16,485						21,756
Cash and cash equivalents at end of period						1,458,588						2,830,310

The explanatory notes are an integral part of the unaudited interim condensed consolidated financial statements

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			Unaudited interim condensed consolidated statements of changes in equity For the three-month period ended March 31, 2025 and 2024 (Amounts in thousands of Brazilian reais, unless otherwise stated)

						Share capital						Reserves						Other comprehensive income						Retained earnings /accumulated losses						Treasury shares						Equity attributable to owners of the Company						Non-controlling interest						Total equity
Balance as of December 31, 2023						13						8,147,285						(675,488)						—						—						7,471,810						124,881						7,596,691
Profit for the period						—						—						—						182,793						—						182,793						12,427						195,220
Proposed allocations:
Constitution/ reversion of reserves						—						182,793						—						(182,793)						—						—						—						—
Capital increase						—						820,503						—						—						—						820,503						—						820,503
Cost associated with issuing equity securities						—						(38,466)						—						—						—						(38,466)						—						(38,466)
Interest on equity / dividends						—						—						—						—						—						—						(2,271)						(2,271)
Foreign exchange differences on the translation of foreign operations						—						—						18,073						—						—						18,073						—						18,073
Gains and losses - Hedge						—						—						(1,689)						—						—						(1,689)						—						(1,689)
Net change in fair value - financial assets at FVOCI						—						—						(52,147)						—						—						(52,147)						—						(52,147)
Share-based payment transactions						—						(3,626)						—						—						3,626						—						—						—
Reflex reserve						—						8,007						—						—						—						8,007						—						8,007
Repurchase of treasury shares						—						—						—						—						(16,409)						(16,409)						—						(16,409)
Others						—						—						—						—						—						—						10,941						10,941
Balance as of March 31, 2024						13						9,116,496						(711,251)						—						(12,783)						8,392,475						145,978						8,538,453
Balance as of December 31, 2024						13						9,793,992						(898,830)						—						—						8,895,175						177,132						9,072,307
Profit for the period						—						—						—						286,589						—						286,589						20,197						306,786
Proposed allocations:
Constitution/ reversion of reserves						—						286,589						—						(286,589)						—						—						—						—
Capital increase						—						—						—						—						—						—						—						—
Interest on equity / dividends						—						(203,593)						—						—						—						(203,593)						(4,553)						(208,146)
Foreign exchange differences on the translation of foreign operations						—						—						(104,512)						—						—						(104,512)						—						(104,512)
Gains and losses - Hedge						—						—						(36,514)						—						—						(36,514)						—						(36,514)
Net change in fair value - financial assets at FVOCI						—						—						53,888						—						—						53,888						—						53,888
Share-based payment transactions						—						(14,010)						—						—						14,010						—						—						—
Reflex reserve						—						9,402						—						—						—						9,402						—						9,402
Repurchase of treasury shares						—						28,850						—						—						(28,729)						121						—						121
Others						—						—						—						—						—						—						(80,482)						(80,482)
Balance as of March 31, 2025						13						9,901,230						(985,968)						—						(14,719)						8,900,556						112,294						9,012,850

The explanatory notes are an integral part of the unaudited interim condensed consolidated financial statements

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

Notes to the unaudited interim condensed consolidated financial statements

(Amounts in thousands of Brazilian reais, unless otherwise stated)

1.Activity and structure of Inter & Co, Inc. and its subsidiaries

Inter&Co, Inc. ("Inter&Co", "Inter Group", "Group", "Company" or "Inter") is the controlling holding company of the Inter Group (indirectly controlling Banco Inter), incorporated in the Cayman Islands as an exempted company with limited liability and registered with the U.S. Securities and Exchange Commission ("SEC").

In January 2022, Inter&Co Payments, Inc. (formerly known as USEND or Pronto Money Transfer, Inc.), a financial technology company headquartered in the United States, was acquired. Inter&Co Payments provides foreign exchange and payment services, both international and domestic.

In January 2023, we completed another acquisition in the United States, of YellowFi Mortgage LLC, a company that owns, manages, and operates a mortgage origination and lending business primarily in the State of Florida, and YellowFi Management LLC, a company that manages and operates the Brickell Bay Mortgage Opportunity Fund, a residential mortgage investment fund.

In 2024, we sold 36.8 million Class A ordinary shares through a subsequent public offering, raising approximately US$ 162 million in gross proceeds. The offering initially closed in January 2024, and the exercise of the share purchase option closed in February 2024. One of the main objectives of the offering was to increase the liquidity of our Class A shares traded on Nasdaq.

In July 2024, we completed the acquisition of an additional 50% of the share capital of Granito Instituição de Pagamento S.A. (now Inter Pag Instituição de Pagamento S.A.), consolidating Inter as the sole shareholder of this company, in a strategy to leverage the growth of the small and medium-sized business market and, through the combination of proprietary technologies, offer services to Inter and Inter Pag Instituição de Pagamento S.A. customers.

The Group's objective is to act as a multi-service digital platform for individuals and legal entities, and among its main activities are mortgage loans, payroll loans, business loans, rural credit, credit card operations, checking accounts, investments, insurance services, as well as a marketplace for non-financial services provided through its subsidiaries. Operations are carried out in the context of the Group's set of companies, operating in the market in an integrated manner.

2.Basis for preparation

a.Compliance statement

The Group's unaudited interim condensed consolidated financial statements has been prepared in accordance with IAS 34 - Interim financial reporting issued by the International Accounting Standards Board (IASB).

This unaudited interim condensed consolidated financial statements has been prepared following the basis of preparation and accounting policies consistent with those adopted in the preparation of the consolidated financial statements of Inter & Co, Inc., as of December 31, 2024, and is therefore intended only to provide an update of the content of the latest financial statements and should be read together, in accordance with IAS 34.

These unaudited interim condensed consolidated financial statements was authorized for issuance by the Company’s Board of Directors on May, 09 2025.

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

b.Functional and presentation currency

These unaudited interim condensed consolidated financial statements are presented in Brazilian reais (BRL or R$). The functional currency of the Group companies is shown in note 4a. All balances were rounded to the nearest thousand, unless otherwise indicated.

c.Use of estimates and judgments

In preparing these unaudited interim condensed consolidated financial statements, management has made judgments, estimates and assumptions that affect the application of the accounting policies of the Group and the reported amounts of assets, liabilities, revenues and expenses. Actual results may differ from such estimates. Estimates and assumptions are reviewed on an ongoing basis. Adjustments, if any, related to changes in estimates are recognized prospectively. The significant judgments made by management during the application of the Group’s accounting policies and the sources of estimation uncertainty are described below:

Judgments

Information about the judgments made in the application of accounting policies that have the most relevant effects on the amounts recognized in financial projections are included in the following notes:

•Basis for consolidation (see note 4a): whether Inter&Co has de facto control over an investee.

•Classification of financial assets (see notes 6 and 7): assessment whether financial assets comply with

the solely payment of principal and interest (SPPI test) criteria and the business model in which the assets are managed (amortized cost, fair value through other comprehensive income or fair value through profit or loss).

Estimates

The estimates present a significant risk and may have a material impact on the values of assets and liabilities in the next years, and the actual results may differ from those previously established. The main items susceptible to impacts due these estimates are shown below:

•Classification of financial assets (see notes 6 and 7) - evaluation of the business model in which the assets are held and evaluation if the contractual terms of the financial asset relate only to payments of principal and interest (SPPI test).

•Business combination (see notes 4.b): determination of fair values of assets acquired and liabilities assumed in business combination;

•Impairment test of intangible assets and goodwill (see notes 14 and 4): for the purposes of impairment testing, each Group entity was considered a cash generating unit (“CGU”); and

•Deferred tax asset (see note 32): the expected realization of the deferred tax asset is based on projected future taxable income and other technical studies.

•Expected credit loss (see notes 4e and 12): the measurement of expected credit loss on assets measured at amortized cost and fair value through other comprehensive income (FVOCI) requires the use of complex quantitative models and assumptions about future economic conditions and credit behavior. Several significant judgments are also needed to apply the accounting requirements for measuring expected credit loss, such as: determining the criteria to evaluate the significant increase in credit risk; selecting quantitative models; and establishing different prospective scenarios and their weighting, and others.

•Provisions (see note 21): recognition and measurement of provisions, including the provision for legal proceedings. The main assumptions considered refer to the probability and magnitude of outflows of resources.

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

3.New Accounting Standards Recently Issued

New or revised accounting pronouncements adopted in 2025

The following new or revised standards were issued by the IASB and adopted by the Group for the periods covered by these unaudited interim condensed consolidated financial statements.

•Amendment to IAS 21 - The Effects of Changes in Foreign Exchange Rates and Translation of Financial Statements: The changes require the application of a consistent approach when assessing whether one currency can be exchanged for another, and the amendment clarifies how entities should determine the exchange rate to be used and the disclosures to be provided when a currency is difficult or impossible to exchange. The amendments aim to improve the information an entity provides in its financial statements. This amendment is required for annual financial statements for periods beginning on or after January 1, 2025. Management did not identify any impacts, as there are no currencies in its operations that are difficult or impossible to exchange in the Group's consolidated financial statements.

Other new standards and interpretations issued but not yet effective

•Amendments to IFRS 9 - Financial Instruments and IFRS 7 - Financial Instruments Disclosures: Issued in May 2024, the amendments and clarifications relate to the derecognition of financial liabilities through electronic systems, assessment of contractual cash flow characteristics in classification (SPPI Test), such as financial assets linked to ESG (Environmental, Social and Governance) and other financial instruments. Additionally, additional disclosures were included regarding equity instruments designated at fair value through other comprehensive income and financial instruments linked to contingent events. The amendments are effective for periods beginning on January 1, 2026. Management is assessing the effects of adopting this amendment on the Group's consolidated financial statements.

•IFRS 18 - Presentation and Disclosure in Financial Statements: Issued in April 2024, it replaces IAS 1 and brings additional requirements for financial statements with the aim of enhancing information to shareholders. It defines three categories for income and expenses: operating, investing, and financing, and includes new subtotals. The standard also provides guidance on the disclosure of management-defined performance indicators and includes specific requirements for banking and insurance sector companies. IFRS 18 will come into effect on January 1, 2027, and Management is assessing the effects of adopting this standard on the Group's consolidated financial statements.

•IFRS 19 - Subsidiaries without Public Accountability: Disclosures: Issued in May 2024, the standard defines that a subsidiary without public accountability can provide reduced disclosures when applying IFRS Accounting Standards in its financial statements. The standard is optional for eligible subsidiaries and establishes disclosure requirements for subsidiaries that choose to apply it. IFRS 19 will come into effect on January 1, 2027, and management is assessing the effects of adopting this standard on the Group's consolidated financial statements.

•Other Amendments - The IASB has made other amendments to existing standards that will be effective from future periods, as summarized below:

•Amendments to IFRS 7 - Gains and losses on derecognition: The amendments aim to disclose deferred differences on fair value and transaction price, changes in the classification and measurement of financial instruments, effective from January 1, 2026.

•Amendments to IAS 7 - The main objective is to increase transparency in the disclosure of supplier financing arrangements, requiring additional information on these arrangements, such as terms and conditions, the value of liabilities involved, and liquidity risks, effective from January 1, 2026.

•Amendments to IFRS 10 - Aims at defining control and transition guidance after applying the new concept, as well as clarifications on the sale or contribution of assets between related entities, effective from January 1, 2026.

12

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

•Amendments to IFRS 9 - Includes clarifications on the derecognition of lease liabilities and their consequences, effective from January 1, 2026.

In light of the above-mentioned amendments, Management is assessing the possible impacts of these standard changes on its unaudited interim condensed consolidated financial statements.

4.Material accounting policies

The main regulatory practices in preparing forecasts are the same occasions disclosed in the unaudited interim condensed consolidated financial statements projections for the year ended December 31, 2024.

a.Basis for consolidation

The following table shows the subsidiaries in each period:

Entity						Branch of Activity						Common shares and/or quotas						Functional currency						Country						Share in the capital (%)
																														03/31/2025						12/31/2024
Direct subsidiaries
Inter&Co Participações Ltda.						Holding Company						13,196,995						BRL						Brazil						100.00		%				100.00		%
INTRGLOBALEU Serviços Administrativos, LDA						Holding Company						1						EUR						Portugal						100.00		%				100.00		%
Inter US Holding, Inc						Holding Company						100						US$						USA						100.00		%				100.00		%
Inter Holding Financeira S.A.						Holding Company						401,207,704						BRL						Brazil						100.00		%				100.00		%
Inter Marketplace Intermediacão de negócios e Serviços Ltda.						Marketplace						1,984,271,386						BRL						Brazil						100.00		%				100.00		%
Landbank Fundo de Investimento em Direitos Creditórios de Responsabilidade Limitada (a)						Investment Fund						590,989,248						BRL						Brazil						100.00		%				100.00		%
Inter&Co Solutions						Provision of services						16,000,000						BRL						Brasil						100.00		%				100.00		%
Indirect subsidiaries
Banco Inter S.A.						Multiple Bank						2,593,598,009						BRL						Brazil						100.00		%				100.00		%
Inter Distribuidora de Títulos e Valores Mobiliários Ltda.						Securities broker						335,000,000						BRL						Brazil						100.00		%				100.00		%
Inter Digital Corretora e Consultoria de Seguros Ltda.						Insurance broker						60,000						BRL						Brazil						60.00		%				60.00		%
Inter Titulos Imobiliarios Fundo de Investimento Imobiliario						Investment Fund						—						BRL						Brazil						—		%				97.19		%
BMA Inter Fundo De Investimento Em Direitos Creditórios Multissetorial						Investment Fund						—						BRL						Brazil						—		%				65.17		%
TBI Fundo De Investimento Renda Fixa Credito Privado						Investment Fund						230,278,086						BRL						Brazil						100.00		%				100.00		%
TBI Fundo De Investimento Crédito Privado Investimento Exterior						Investment Fund						15,000,000						BRL						Brazil						100.00		%				100.00		%
IG Fundo de Investimento Renda Fixa Crédito Privado						Investment Fund						127,909,837						BRL						Brazil						100.00		%				100.00		%
Inter Simples Fundo de Investimento em Direitos Creditórios Multissetorial						Investment Fund						37,065						BRL						Brazil						91.29		%				91.29		%
IM Designs Desenvolvimento de Software S.A						Provision of services						50,000,000						BRL						Brazil						50.00		%				50.00		%
Acerto Cobrança e Informações Cadastrais S.A.						Provision of services						60,000,000,000						BRL						Brazil						60.00		%				60.00		%
Inter & Co Payments, Inc						Provision of services						1,000						US$						USA						100.00		%				100.00		%
Inter Asset Gestão de Recursos Ltda						Asset management						750,814						BRL						Brazil						70.87		%				70.87		%
Inter Café Ltda.						Provision of services						13,010,000						BRL						Brazil						100.00		%				100.00		%
Inter Boutiques Ltda.						Provision of services						6,010,008						BRL						Brazil						100.00		%				100.00		%
Inter Food Ltda.						Provision of services						7,000,000						BRL						Brazil						70.00		%				70.00		%
Inter Viagens e Entretenimento Ltda.						Provision of services						94,515						BRL						Brazil						100.00		%				100.00		%
Inter Conectividade Ltda.						Provision of services						33,533,805						BRL						Brazil						100.00		%				100.00		%
Inter US Management, LLC						Provision of services						100,000						US$						USA						100.00		%				100.00		%
Inter US Finance, LLC						Provision of services						100,000						US$						USA						100.00		%				100.00		%
Inter&Co Securities, LLC						Provision of services						100,000						US$						USA						100.00		%				100.00		%
Inter&Co Tecnologia e Serviços Financeiros Ltda.						Provision of services						9,896,122,671						BRL						Brazil						100.00		%				100.00		%
Inter Pag Instituição de Pagamento S.A (b)						Provision of services						1,654,582,386						BRL						Brasil						100.00		%				100.00		%
Inter & Co Us advisors, LLC (c)						Asset management						—						US$						USA						100.00		%				100.00		%
Inter Hedge Fundo de Investimento Imobiliário (d)						Investment Fund						139,437,178						BRL						Brasil						100.00		%				—		%

a.On June 28, 2024,the Landbank Fund was created by Inter & Co which held 301,000,000 of its shares. As a result, the fund is now consolidated in the Group's consolidated financial statements.

b.On May 28, 2024, Banco Inter (indirect subsidiary) announced the execution of contracts for the acquisition of the entire share capital of Inter Pag, after approval by BACEN (Central Bank of Brazil) which occurred on July 24, 2024, Inter became the sole shareholder of Inter Pag Instituição de Pagamento S.A. (previously named Granito Soluções em Pagamento S.A.).

c.In October 2024, Inter&Co US Advisors was incorporated and became the direct subsidiary of US Holding, Inc, and consequently, an indirect subsidiary of Inter&Co.

d.On February 17, 2025, Banco Inter (indirect subsidiary) made a significant investment by acquiring a significant number of shares in the Inter Hedge fund. As a result of this acquisition, the financial data related to these funds began to be included in the consolidation basis of the financial statements of Inter&Co.

13

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

5.Operating segments

Operating segments are disclosed based on internal information that is used by the chief operating decision maker to allocate resources and to assess performance. The chief operating decision-maker, responsible for allocating resources, evaluating the performance of the operating segments and responsible for making strategic decisions for the Group, is the CEO, together with the Board of Directors.

Profit by operating segment

Each operating segment is composed of one or more legal entities. The measurement of profit by operating segment takes into account all revenues and expenses recognized by the companies that make up each segment.

Transactions between segments are carried out in terms and rates compatible with those practiced with third parties, where applicable. The Group does not have any customer accounting for more than 10% of its total net revenue.

a.Banking & Spending

This segment includes banking products and services such as current accounts, debit and credit cards, deposits, loans, advances to customers, debt collection activities and other services provided to customers, mainly through Inter app. The segment also includes foreign exchange services, remittances of funds between countries, including the Global Account digital solution, card payment solutions (including Inter Pag), together with the investment funds consolidated by the Group.

b.Investments

This segment is responsible for operations related to the acquisition, sale and custody of securities, the structuring and distribution of securities in the capital market and operations related to the management of fund portfolios and other assets (purchase, sale, risk management). Revenues consist primarily of administration fees and commissions charged to investors for the rendering of such services.

c.Insurance Brokerage

This segment offers insurance products underwritten by insurance companies with which Inter has an agreement (‘partner insurance companies’), including warranties, life, property and automobile insurance and pension products, as well as consortium products provided by a third party with whom Inter has a commercial agreement. The income from brokerage commissions is recognized in the income statement when services are provided, that is, when the performance obligation is fulfilled upon sale to the customer.

d.Inter Shop

This segment includes sales of goods and/or services to Inter’s clients through our digital platform in partnership with other companies. The segment income basically comprises commissions received for sales and/or for the rendering of these services.

14

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

Segment information

			03/31/2025
			Banking & Spending						Investments						Insurance Brokerage						Inter Shop						Total of reportable segments						Others						Eliminations						Consolidated
Interest income			1,772,954						4,907						—						23,399						1,801,260						13,504						(7,894)						1,806,870
Interest expenses			(1,194,426)						(3,705)						—						—						(1,198,131)						(2,297)						21,408						(1,179,020)
Income from securities, derivatives and foreign exchange			684,176						19,594						2,288						12,571						718,629						29,629						(13,514)						734,744
Net interest income and income from securities, derivatives and foreign exchange			1,262,704						20,796						2,288						35,970						1,321,758						40,836						—						1,362,593
Net revenues from services and commissions			300,868						36,149						69,494						51,485						457,996						17,481						(15,553)						459,924
Expenses from services and commissions			(17,174)						—						(20,854)						(2,624)						(40,652)						(159)						—						(40,811)
Other revenues			50,780						3,024						10,023						8,024						71,851						47,812						(63,570)						56,093
Revenues			1,597,178						59,969						60,951						92,855						1,810,953						105,970						(79,123)						1,837,800
Impairment losses on financial assets			(508,637)						(602)						—						—						(509,239)						(4,442)						—						(513,681)
Administrative expenses			(460,198)						(39,736)						(4,209)						(17,849)						(521,992)						(12,021)						5,813						(528,200)
Personnel expenses			(184,002)						(18,242)						(6,157)						(15,350)						(223,751)						(20,861)						9,739						(234,873)
Tax expenses			(100,575)						(4,159)						(6,695)						(12,432)						(123,861)						(12,195)						—						(136,056)
Depreciation and amortization			(61,953)						(1,602)						(637)						(2,897)						(67,089)						(356)						—						(67,445)
Profit before income tax			281,813						(4,372)						43,253						44,327						365,021						56,095						(63,571)						357,545
Income tax			(23,043)						3,551						(14,293)						(17,072)						(50,857)						98						—						(50,759)
Profit for the period			258,770						(821)						28,960						27,255						314,164						56,193						(63,571)						306,786
			03/31/2025
			Banking & Spending						Investments						Insurance Brokerage						Inter Shop						Total of reportable segments						Others						Eliminations						Consolidated
Total assets			79,161,433						817,358						344,159						600,628						80,923,578						2,137,534						(2,502,546)						80,558,566
Total liabilities			71,569,242						395,626						123,449						550,925						72,639,242						715,215						(1,808,741)						71,545,716
Total equity			7,592,191						421,732						220,710						49,703						8,284,336						1,422,319						(693,805)						9,012,850

15

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

			03/31/2024
			Banking & Spending						Investments						Insurance Brokerage						Inter Shop						Total of reportable segments						Others						Eliminations						Consolidated
Interest income			1,190,849						2,925						—						14,175						1,207,949						13,933						(4,351)						1,217,531
Interest expenses			(776,296)						(1,992)						—						—						(778,288)						(2,121)						18,162						(762,247)
Income from securities, derivatives and foreign exchange			514,202						18,817						974						7,214						541,207						9,741						(13,811)						537,138
Net interest income and income from securities, derivatives and foreign exchange			928,755						19,750						974						21,389						970,868						21,553						—						992,422
Net revenues from services and commissions			272,341						31,125						36,446						33,654						373,566						774						—						374,340
Expenses from services and commissions			(33,925)						(95)						—						—						(34,020)						(2)						—						(34,022)
Other revenues			81,860						3,141						14,930						6,412						106,343						13,347						(51,489)						68,201
Revenues			1,249,031						53,921						52,350						61,455						1,416,757						35,672						(51,489)						1,400,941
Impairment losses on financial assets			(410,592)						—						—						—						(410,592)						(456)												(411,048)
Administrative expenses			(341,277)						(18,221)						(13,657)						(14,304)						(387,459)						(7,785)						—						(395,244)
Personnel expenses			(141,976)						(22,537)						(5,827)						(10,772)						(181,112)						(9,351)						—						(190,463)
Tax expenses			(68,128)						(3,687)						(4,338)						(10,110)						(86,263)						(68)						—						(86,331)
Depreciation and amortization			(37,751)						(1,408)						(339)						(2,349)						(41,847)						(53)						—						(41,900)
Share of the profit or loss of associates and joint ventures accounted for using the equity method			(2,223)						—						—						—						(2,223)						—						—						(2,223)
Profit / (loss) before income tax			247,084						8,068						28,189						23,920						307,261						17,959						(51,489)						273,732
Income tax			(51,214)						(2,608)						(7,768)						(17,412)						(79,002)						490						—						(78,512)
Profit / (loss) for the period			195,870						5,460						20,421						6,508						228,259						18,449						(51,489)						195,220
			12/31/2024
			Banking & Spending						Investments						Insurance Brokerage						Inter Shop						Total of reportable segments						Others						Eliminations						Consolidated
Total assets			75,189,468						834,510						339,776						566,010						76,929,764						2,240,421						(2,711,755)						76,458,430
Total liabilities			67,353,349						407,083						148,221						558,571						68,467,224						829,357						(1,910,458)						67,386,123
Total equity			7,836,119						427,427						191,555						7,439						8,462,540						1,411,064						(801,297)						9,072,307

16

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

6.Financial risk management

Risk management the Group includes credit, market, liquidity and operational risks. Risk management activities are carried out by independent and specialized structures, in accordance with previously defined policies and strategies. In general, the activities and processes seek to identify, measure, and control the financial and non-financial risks to which Inter is subject.

The model adopted by the Group, involves a structure of areas and committees that seek to ensure:

•Segregation of function;

•Specific unit for risk management;

•Defined management process;

•Clear norms and competence structure;

•Defined limits and margins; and

•Reference to best management practices.

a.Credit risk

Credit risk is defined as the possibility of losses associated with the failure of the borrower or counterparty to meet their respective financial obligations in the agreed-upon terms or the devaluation of a credit agreement arising from the increased risk of default by the borrower, among others.

The financial instruments subject to credit risk are submitted to careful credit evaluation prior to contracting, as well as throughout the term of the respective operations. The credit analyses are based on the borrower's (or counterparty's) economic and financial capacity behavior, including payment history and credit reputation, in addition to the terms and conditions of the respective credit operation, including terms, rates and guarantees.

Loans and advances to customers, as shown in Note 12, are mainly represented by the following operations:

•Credit card: credit operations related to credit card limits, mostly without attached guarantees;

•Business loans: working capital operations, receivables, discounts and loans in general, with or without attached guarantees;

•Real estate loans: loans and financing operations secured by real estate, with attached guarantees;

•Personal loans: loan and payroll card operations, personal loans with and without transfer guarantees; and

•Agribusiness loans: financing operations to cover the costs of rural production, investment, commercialization and/or industrialization granted to rural producers, with or without attached guarantees.

Mitigation of Exposure

In order to maintain the exposures within the risk levels established by senior management, Inter adopts measures to mitigate credit risk. Exposure to credit risk is mitigated through the structuring of guarantees, adapting the risk level to be incurred to the characteristics of the collateral taken at the time of granting. Risk indicators are monitored on an on-going basis and proposal for alternatives forms of mitigation are assessed, whenever the exposure behavior to credit risk of any unit, region, product or segment requires it. Additionally, credit risk mitigation takes place through product repositioning and adjusting operational processes or operation approval levels.

17

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

In addition to the activities described above, goods pledged in guarantee are subject to a technical assessment / valuation at least once every twelve months. In the case of personal guarantees, an analysis of the financial and economic circumstances of the guarantor is made considering their other debts with third parties, including tax, social security and labor debt.

Credit standards guide operational units and cover, among other aspects, the classification, requirement, selection, assessment, formalization, control and reinforcement of guarantees, aiming to ensure the adequacy and sufficiency of mitigating instruments throughout the cycle of the loan.

In 2025 there were no material changes to the nature of the credit risk exposures, how they arise or the Group’s objectives, policies and processes for managing them, although Inter continues to refine its internal risk management processes.

i.Concentration by economic sector

						03/31/2025						12/31/2024
Financial activities						5,829,881						5,667,776
Construction						1,859,104						1,817,869
Trade						1,496,357						1,468,875
Industries						1,431,775						1,429,907
Administrative activities						1,123,635						1,190,423
Agriculture						106,701						79,653
Other segments (a)						1,606,300						2,110,431
Business clients						13,453,753						13,764,934
Individual clients						23,941,571						21,831,359
Total						37,395,324						35,596,293

(a) Mainly refers to real estate activities, communication services, transport, storage and mailing.

ii.Concentration of the portfolio

			03/31/2025												12/31/2024
			Balance						% on Loans and advances to customers						Balance						% on Loans and advances to customers
Largest debtor			151,411						0.40		%				123,456						0.35		%
10 largest debtors			866,943						2.32		%				964,974						2.71		%
20 largest debtors			1,367,467						3.66		%				1,520,889						4.27		%
50 largest debtors			2,224,799						5.95		%				2,378,545						6.68		%
100 largest debtors			3,056,224						8.17		%				3,181,258						8.94		%

Measurement

The measurement of credit risk the Group is carried out considering the following:

•At the time that credit is granted, an assessment of a customer’s financial condition is undertaken through the application of qualitative and quantitative methods and using information collected from the market, in order to support the adequacy of the risk exposure being proposed;

•The assessment is carried out at the counterparty level, considering information on guarantors where applicable. The exposure to the credit risk is also measured in extreme scenarios, using stress techniques and scenario analysis. The models applied to determine the rating of customers and loans are reviewed periodically in order to ensure they reflect the macroeconomic scenario and actual loss experience, as per information in note 12;

18

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

•The aging of late payments in portfolios is monitored in order to identify trends or changes in the behavior of non-performing loans and allow the adoption of mitigating measures when required;

•Expected credit loss reflects the risk level of loans and allows monitoring and control of the portfolio’s exposure level and the adoption of risk mitigation measures;

•The expected credit loss is a forecast of the risk levels of the credit portfolio. Its calculation is based on the historical payment behavior and the distribution of the portfolio by product and risk level. This is a key input to the process of pricing loans and advances to customers; and

•In addition to the monitoring and measurement of indicators under normal conditions, simulations of changes in business environment and economic scenario are also performed in order to predict the impact of such changes in levels of exposure to risks, provisions and balance of such portfolios and to support the process of reviewing the exposure limits and the credit risk policy.

b.Description of guarantees

The financial instruments subject to credit risk are subject to careful assessment of credit prior to being contracted and disbursed and risk assessment is ongoing throughout the term of the instruments. Credit assessments are based on an understanding of the customers’ operational characteristics, their indebtedness capacity, considering cash flow, payment history and credit reputation, and any guarantees given.

Loans and advances to customers, as shown in Note 12, are mainly represented by the following operations:

•Working capital operations: are guaranteed by receivables, promissory notes, sureties provided by their owners and occasionally by property or other tangible assets, when applicable;

•Payroll loans: are mainly represented by payroll credit cards and personal loans. These are deducted directly from the borrowers' pensions, income or salaries and settled directly by the entity responsible for making these payments (e.g. company or government agency);

•Personal loans and credit cards: generally, do not have guarantees; and

•Real estate financing: is collateralized by the real estate financed.

Guarantees of real estate loans and financing

The following table shows the value of real estate-backed financing, broken down by loan to value. Loan to Value (LTV) is the ratio between the value of a loan and the value of the asset being financed. A higher LTV may signal greater risk to the lender, as it indicates a lower share of the borrower's equity in the transaction.

			03/31/2025						12/31/2024
Lower than 30%			1,889,016						1,680,479
31 - 50%			3,498,737						3,384,141
51 - 70%			5,006,273						4,552,068
71 - 90%			1,520,732						1,375,696
Higher than 90%			285,629						257,803
			12,200,387						11,250,187

c.Liquidity risk

Liquidity risk is the possibility that the Group will not be able to efficiently meet its expected or unexpected financial obligations, including those arising from guarantees provided or even unexpected redemptions from customers. Therefore, liquidity risk also includes the possibility that Inter will not be able to negotiate the sale of assets at market prices due to their volume in relation to the volume normally traded or due to some discontinuity in the market.

19

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

The liquidity risk management structure is segregated and acts proactively with the objective of monitoring and preventing any violation of the liquidity ratio limits. Liquidity risk monitoring covers the entire flow of receipts and payments of the Group so that risk mitigation actions can be implemented. This monitoring is carried out primarily by the Assets and Liabilities Committee and the Risk and Capital Management Committee. These committees assess the liquidity risk information that is available in the Group's systems, such as:

•Top 10 investors;

•Mismatch between assets and liabilities;

•Net Funding; Liquidity limits; Maturity forecast;

•Stress tests based on internally defined scenarios;

•Liquidity contingency plans;

•Monitoring of asset and liability concentrations;

•Monitoring of Liquidity Ratio and funding renewal rates; and

•Reports with information on positions held by Inter and its subsidiaries.

As of the reference date of March 31, 2025, there were no material changes in the nature of liquidity risk exposures, in how they arise, or in the Group's objectives, policies, and processes for managing them, although the Group continues to improve its internal risk management processes.

The responsibilities of the Liquidity Risk Management Framework are distributed between different committees and hierarchical levels, including: Board of Directors, Asset and Liability Committee (ALC), Officer in charge of Risk Management, Superintendent of Compliance, Risk Management and Internal Controls and Risk Coordination. These consider the internal and external factors affecting the liquidity of the Group, and a detailed daily monitoring of incoming and outgoing movements of loans and advances to customers, time deposits, savings, Agribusiness Credit Bills (LCA), Real estate credit bills (LCI), Guaranteed Real Estate Bills (LIG) and demand deposits is performed. Time deposits are analyzed according to the concentration, maturities, renewals, repurchases and new funding.

20

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

d.Analyses of financial instruments by remaining contractual term

The table below presents the projected future realizable value of the Group’s financial assets and liabilities by contractual term:

									Current																		Non-Current												Total						Total
			Note						1 to 30 days						31 to 180 days						181 to 365 days						1 to 5 Years						Over 5 years						03/31/2025						12/31/2024
Financial assets
Cash and cash equivalents			8						1,458,588						—						—						—						—						1,458,588						1,108,394
Amounts due from financial institutions			9						6,595,073						—						—						—						—						6,595,073						6,194,960
Deposits at Central Bank of Brazil									5,648,238						—						—						—						—						5,648,238						5,285,402
Securities			10						576,030						1,607,843						3,504,671						13,877,542						5,185,379						24,751,465						23,953,038
Derivative financial assets			11						383						6,639						1,079						62						—						8,163						563
Loans and advances to customers			12.c						8,162,949						4,703,162						6,888,301						5,082,474						12,558,438						37,395,324						35,596,293
Other assets (a)			15						—						—						—						—						86,111						86,111						83,194
Total									22,441,261						6,317,644						10,394,051						18,960,078						17,829,928						75,942,962						72,221,844
Financial liabilities
Liabilities with financial and similar institutions			16						13,807,151						501						31						—						—						13,807,683						11,319,577
Liabilities with customers (b)			17						43,620,830						2,400						3,063						21,475						—						43,647,768						42,803,229
Securities issued			18						10,687,636						2,879						2,382						5,070						—						10,697,969						9,890,219
Derivative financial liabilities			11						359						5,497						1						2						4						5,863						70,048
Borrowing and on-lending			19						104,736						6,800						126						269,837						16,454						397,953						128,924
Other liabilities (c)			22						—												795						105,868						—						106,663						113,690
Total									68,220,712						18,078						6,398						402,252						16,458						68,663,899						64,325,687

(a)    The financial assets are substantially composed of amounts related to the variable portion of the sale of 40% of the subsidiary Inter Digital Corretora e Consultoria de Seguros Ltda. (“Inter Seguros”), to Wiz Soluções e Corretagem de Seguros SA (“Wiz”) on May 8, 2019.

(b)    Overall, the CDB (time deposit) are issued with early liquidity clause, then the client (counterparty) could redeem it anytime until the final maturity. For disclosure purpose, the CDBs are allocated according to the remaining days until the maturity. Therefore, for risk management purpose under both market risk and liquidity risk, it is considered a methodology (behavior statistic model) which is focused on allocating the positions (CDB) at a more probable maturity.

(c)    Financial liabilities are composed of financial liabilities of leases, as per explanatory note 22.b.

21

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

e.Financial assets and liabilities using a current/non-current classification

The table below represents the Group’s current financial assets (realized within 12 months of the reporting date), non-current financial assets (realized more than 12 months after the reporting date) and current financial liabilities (it is due to be settled within 12 months of the reporting date) and non-current financial liabilities (is due to be settled more than 12 months after the reporting date):

						03/31/2025																		12/31/2024
			Note			Current						Non-current						Total						Total
Assets
Cash and cash equivalents			8			1,458,588						—						1,458,588						1,108,394
Amounts due from financial institutions			9			6,595,073						—						6,595,073						6,194,960
Deposits at Central Bank of Brazil						5,648,238						—						5,648,238						5,285,402
Securities			10			5,688,544						19,062,921						24,751,465						23,953,038
Derivative financial assets			11			8,101						62						8,163						563
Loans and advances to customers, net of provisions for expected credit losses			12			17,447,368						17,640,912						35,088,280						33,327,355
Other assets (a)			15			—						86,111						86,111						83,194
Total						36,845,912						36,790,006						73,635,918						69,952,906
Liabilities
Liabilities with financial and similar institutions			16			13,807,683						—						13,807,683						11,319,577
Liabilities with customers (b)			17			43,626,293						21,475						43,647,768						42,803,229
Securities issued			18			10,692,899						5,070						10,697,969						9,890,219
Derivative financial liabilities			11			5,857						6						5,863						70,048
Borrowings and on-lending			19			111,662						286,291						397,953						128,924
Other liabilities (b)			22			795						105,868						106,663						113,690
Total						68,245,189						418,710						68,663,899						64,325,687

(a)    The financial assets are substantially composed of amounts related to the variable portion of the sale of 40% of the subsidiary Inter Digital Corretora e Consultoria de Seguros Ltda. (“Inter Seguros”), to Wiz Soluções e Corretagem de Seguros SA (“Wiz”) on May 8, 2019.

(b)    Overall, the CDB (time deposit) are issued with early liquidity clause, then the client (counterparty) could redeem it anytime until the final maturity. For disclosure purpose, the CDBs are allocated according to the remaining days until the maturity. Therefore, for risk management purpose under both market risk and liquidity risk, it is considered a methodology (behavior statistic model) which is focused on allocating the positions (CDB) at a more probable maturity

(c)    Financial liabilities are composed of financial liabilities of leases, as per explanatory note 22.b.

.

f.Market risk

Market risk is the possibility of losses resulting from fluctuations in the fair value of financial instruments held by the Institution and its subsidiaries, including the risks of transactions subject to changes in foreign exchange rates, interest rates, stock prices and commodity prices.

The Group, market risk management has, among others, the objective of supporting the business areas, establishing processes and implementing tools necessary for the assessment and control of related risks, allowing the measurement and monitoring of risk levels, as defined by Senior Management.

The market risk policy is monitored by the Asset and Liability Committee. Market risk controls allow the analytical assessment of information and are in a constant process of improvements. The Institution and its subsidiaries have improved the internal aspects of risk management and mitigation.

Measurement

Within the risk management process, the Group classifies its operations, including derivative financial instruments, as follows:

22

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

•Trading book: considers all operations intended to be traded before their contractual maturity or intended to hedge the trading portfolio and which are not subject to limitations on their negotiability.

•Banking book: considers operations not classified in the trading portfolio, the main characteristic of which is the intention to hold the respective operations until maturity

In line with market practices, the Group manages its risks dynamically, seeking to identify, measure, evaluate, monitor, report, control and mitigate the exposures to market risks of its own positions. One of the methods of assessing the positions subject to market risk is the Value at Risk (VaR) model. The methodology used to calculate the VaR is the parametric model with a confidence level (CL) of 99% and a holding period of twenty one days.

We present the value-at-risk for the Trading Book positions:

Risk factor						03/31/2025						12/31/2024
IPCA Coupon						9,639						13,738
Pre-fixed rate						797						3,951
USD Coupon						73						2,675
Foreign currencies						25,643						28,036
Share price						2,685						193
Subtotal						38,837						48,593
Diversification effects (correlation)						14,865						24,539
Value-at-Risk						23,972						24,054
VaR over total asset						0.03		%				0.03		%

We present the value-at-risk (holding period: 21 days) for the Banking Book positions:

Risk factor						03/31/2025						12/31/2024
IPCA Coupon						732,159						976,186
Pre-fixed rate						35,202						116,296
TR Coupon						35,350						53,790
Others						94,167						181,069
Subtotal						896,878						1,327,341
Diversification effects (correlation)						136,883						347,688
Value-at-Risk						759,995						979,653
VarR over total asset						0.94		%				1.28		%

g.Sensitivity analysis

To determine the sensitivity of the Group's economic value position to market movements, we calculate the delta of the marked-to-market value (MTM) of assets and liabilities in different scenarios, considering the relevant risk factors, during the analyzed period. We present the results that would negatively affect our positions, according to each scenario.

•Scenario 1: based on market information, shocks of 1 basis point were applied to interest rates and 1% variation to prices (foreign currencies and shares);

•Scenario 2: shocks of 25% variation were determined in the curves and market prices;

•Scenario 3: shocks of 50% variation were determined in the curves and market prices.

23

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

It is important to note that the impacts reflect a static view of the portfolio, and that market dynamics and portfolio composition cause these positions to change continuously and do not necessarily reflect the position shown here. The group has a continuous market risk monitoring process, and in case of position/portfolio deterioration, mitigating actions are taken to minimize possible negative effects.

Exposures - R$ thousand

Banking and Trading book

Scenarios

03/31/2025

Risk factor

Rate variation in scenario 1

Scenario I

Rate variation in scenario 2

Scenario II

Rate variation in scenario 3

Scenario III

Pre-fixed rate

increase

(2,661)

increase

(912,609)

increase

(1,699,083)

IPCA coupon (a)

increase

(4,597)

increase

(786,083)

increase

(1,425,950)

TR coupon (b)

increase

(245)

increase

(63,344)

increase

(109,104)

USD coupon

decrease

21

decrease

(5,394)

decrease

(10,957)

Others

increase

(17)

increase

(2,764)

increase

(5,366)

(a) The IPCA is a consumer price index calculated by the IBGE (accumulated during each period).

(b) The Reference Rate (TR) is one of the components that determine the profitability of savings accounts and the FGTS (Severance Indemnity Fund).

Exposures - R$ thousand

Banking and Trading book

Scenarios

12/31/2024

Risk factor

Rate variation in scenario 1

Scenario I

Rate variation in scenario 2

Scenario II

Rate variation in scenario 3

Scenario III

Pre-fixed rate

increase

(2,766)

increase

(988,366)

increase

(1,848,407)

IPCA coupon (a)

increase

(4,870)

increase

(834,006)

increase

(1,511,875)

TR coupon (b)

increase

(214)

increase

(56,565)

increase

(96,402)

USD coupon

decrease

(26)

decrease

(4,477)

decrease

(9,047)

Others

increase

(19)

decrease

(1,912)

decrease

(628)

(a) The IPCA is a consumer price index calculated by the IBGE (accumulated during each period).

(b) The Reference Rate (TR) is one of the components that determine the profitability of savings accounts and the FGTS (Severance Indemnity Fund).

h.Operational risk

Policy

Operational risk management aims to identify, assess and monitor risks, and is defined as the risk of losses resulting from inadequate or failed internal processes, people and systems, or external events. This definition includes legal risk, but excludes strategic and reputational risk.

Operational risk events can be classified:

•Internal fraud;

•External fraud;

•Labor demands and poor workplace safety;

•Inappropriate practices relating to end users, customers, products and services;

•Damage to physical assets owned or used by the institution;

•Situations that lead to the interruption of the institution's activities or the discontinuity of services provided, including payments;

•Failures in information technology (IT) systems, processes or infrastructure; and

•Failures in the execution, compliance with deadlines or management of the institution's activities, including those related to payment arrangements.

Inter adopts the management model of the three lines of defense in light of its size, business model and risk appetite.

24

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

Phases of the Management Process

Qualitative Evaluation

The qualitative assessment uses a scale which considers measures for probability and impact, taking into account the vulnerabilities and threats that, combined, determine the level of risk exposure to each event. Identification and verification is performed by in-person monitoring, interviews and workshops with the managers and employees from all operational areas, business partners and business units.

The identified risks are categorized and organized by risk factors.

Quantitative Evaluation

In the quantitative assessment of operational risk, the Group maintains an internal database fed by various sources of information. This contains descriptions and details of operational losses. In the quantitative assessment, information from external sources deemed reliable and relevant to the businesses of the Group may also be used.

Monitoring

An effective risk management process requires a communication and review structure that ensures the correct, effective and timely identification and assessment of the risks. In addition, it also seeks to assure that controls and responses to these risks are implemented.

Control tests and regular audits intended to verify compliance with applicable policies and standards are performed. The monitoring and review process seeks to verify whether:

•The adopted measures have achieved the intended results;

•The procedures adopted and the information gathered to perform the assessment were appropriate;

•Higher levels of knowledge may have contributed to make better decisions; and

•There is an effective possibility of obtaining information for future assessments.

7.Fair values of financial instruments

a.Financial instruments – Classification and fair values

Financial Instruments are classified into the following categories:

•Amortized cost;

•Fair value through other comprehensive income (FVOCI); and

•Fair value through profit or loss (FVTPL).

The fair value of a financial asset or liability is measured using one of three approaches below, weighting the levels of the fair value hierarchy as follows:

•Level 1 – instruments with prices traded in the active market;

•Level 2 – using financial valuation techniques, weighing data and market variables; and

•Level 3 – uses meaningful variables that are not based on market data.

The following table presents the composition of financial assets and liabilities according to the accounting classification in fair value through other comprehensive income (FVOCI) and fair value through profit or loss (FVTPL). It also shows the carrying amounts and fair values of financial assets and liabilities, including their levels in the fair value hierarchy. Inter may not include information on the fair value of financial assets and liabilities when the carrying amount is a reasonable approximation of fair value.

25

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

As of March 31, 2025
Financial assets			Level 1						Level 2						Level 3						Fair value						Carrying amount
Amortized cost			—						—						—						—						50,484,376
Loans and advances to customers, net of provisions for expected credit losses			—						—						—						—						35,088,280
Amounts due from financial institutions			—						—						—						—						6,595,073
Deposits at Central Bank of Brazil			—						—						—						—						5,648,238
Cash and cash equivalents			—						—						—						—						1,458,588
Brazilian government securities			—						—						—						—						1,213,243
Securities issued by financial institutions			—						—						—						—						480,954
Fair value through profit or loss - FVTPL			602,796						997,610						—						1,600,406						1,600,406
Investment funds shares			149,188						398,664						—						547,852						547,852
Bonds and shares issued by non-financial companies			—						546,167						—						546,167						546,167
Brazilian government securities			453,608						—						—						453,608						453,608
Securities issued by financial institutions			—						44,616						—						44,616						44,616
Derivative financial assets			—						8,163						—						8,163						8,163
Fair value through other comprehensive income - FVOCI			16,865,052						4,551,511						—						21,416,563						21,416,563
Brazilian government securities			16,661,252						—						—						16,661,252						16,661,252
Securities issued abroad			203,800						3,739,980						—						3,943,780						3,943,780
Bonds and shares issued by non-financial companies			—						695,033						—						695,033						695,033
Investment funds shares			—						116,498						—						116,498						116,498
Total			17,467,848						5,549,121						—						23,016,969						73,501,345
Financial liabilities			Level 1						Level 2						Level 3						Fair value						Carrying amount
Amortized cost			—						—						—						—						68,551,373
Liabilities with customers			—						—						—						—						43,647,768
Liabilities with financial and similar institutions			—						—						—						—						13,807,683
Securities issued			—						—						—						—						10,697,969
Borrowings and on-lending			—						—						—						—						397,953
Fair value through profit or loss - FVTPL			—						5,863						—						5,863						5,863
Derivative financial liabilities			—						5,863						—						5,863						5,863
Total			—						5,863						—						5,863						68,557,236

26

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

As of December 31, 2024
Financial assets			Level 1						Level 2						Level 3						Fair value						Carrying amount
Amortized cost			—						—						—						—						47,529,290
Loans and advances to customers, net of provisions for expected credit losses			—						—						—						—						33,327,355
Amounts due from financial institutions			—						—						—						—						6,194,960
Deposits at Central Bank of Brazil			—						—						—						—						5,285,402
Cash and cash equivalents			—						—						—						—						1,108,394
Brazilian government securities			—						—						—						—						1,189,489
Securities issued by financial institutions			—						—						—						—						423,690
Fair value through profit or loss - FVTPL			648,194						726,203						—						1,374,397						1,374,397
Brazilian government securities			432,316						32,081						—						464,397						464,397
Securities issued by financial institutions			15,987						374,000						—						389,987						389,987
Investment funds shares			199,891						93,322						—						293,213						293,213
Bonds and shares issued by non-financial companies			—						226,237						—						226,237						226,237
Derivative financial assets			—						563						—						563						563
Fair value through other comprehensive income - FVOCI			16,413,025						4,499,513						—						20,912,538						20,912,538
Brazilian government securities			16,183,821						—						—						16,183,821						16,183,821
Securities issued abroad			229,204						3,600,898						—						3,830,102						3,830,102
Investment funds shares			—						706,022						—						706,022						706,022
Securities issued by financial institutions			—						158,713						—						158,713						158,713
Bonds and shares issued by non-financial companies			—						33,880						—						33,880						33,880
Total			17,061,219						5,225,716						—						22,286,935						69,816,225
Financial liabilities			Level 1						Level 2						Level 3						Fair value						Carrying amount
Amortized cost			—						—						—						—						64,141,949
Liabilities with customers			—						—						—						—						42,803,229
Liabilities with financial and similar institutions			—						—						—						—						11,319,577
Securities issued			—						—						—						—						9,890,219
Borrowings and on-lending			—						—						—						—						128,924
Fair value through profit or loss - FVTPL			—						70,048						—						70,048						70,048
Derivative financial liabilities			—						70,048						—						70,048						70,048
Total			—						70,048						—						70,048						64,211,997

27

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

The methodology used to measure financial assets and liabilities classified as “Level 2” uses information that is observable for the asset or liability at market; (i) from observations of the quoted price of similar items in an active market; (ii) identical items in a non-active market; or (iii) from other information extracted from related markets.

During the period ended March 31, 2025, there were no change in the measurement method of financial assets and liabilities that entailed reclassification of financial assets and liabilities among the different levels of the fair value hierarchy.

8.Cash and cash equivalents

						03/31/2025						12/31/2024
Cash and cash equivalents in foreign currency						639,743						770,623
Cash and cash equivalents in national currency						260,806						212,573
Reverse repurchase agreements (a)						558,039						125,198
Total						1,458,588						1,108,394

(a)    Refers to operations whose maturity, on the investment date, was equal to or less than 90 days and present an insignificant risk of change in fair value.

9.Amounts due from financial institutions, net of provisions for expected credit losses

						03/31/2025						12/31/2024
Loans to financial institutions (a)						5,199,617						4,974,605
Interbank on-lending						846,995						645,835
Interbank deposit investments						554,051						579,720
Expected credit loss						(5,590)						(5,200)
Total						6,595,073						6,194,960

(a)    Refers substantially to the anticipation of receivables.

28

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

10.TSecurities, net of provisions for expected credit losses

a.Composition of securities net of expected credit losses:

						03/31/2025						12/31/2024
Fair value through other comprehensive income - FVOCI
Financial treasury bills (LFT)						10,966,101						10,637,587
Securities issued abroad						3,943,780						3,830,102
National treasury notes (NTN)						3,772,230						3,731,416
National treasury bills (LTN)						1,922,921						1,814,818
Commercial promissory notes						541,717						593,027
Investment fund shares						116,498						158,714
Certificates of agricultural receivables						64,399						63,141
Certificates of real estate receivables						62,688						49,853
Debentures						26,229						33,880
Subtotal						21,416,563						20,912,538
Amortized cost
National treasury notes (NTN)						677,210						671,839
National treasury bills (LTN)						536,033						517,650
Rural product bill						480,954						423,690
Subtotal						1,694,197						1,613,179
Fair value through profit or loss - FVTPL
Investment fund shares						547,852						293,216
Financial treasury bills (LFT)						426,048						451,424
Certificates of real estate receivables						224,027						227,337
Commercial promissory notes						125,719						25,069
Debentures						112,105						125,192
Certificates of agricultural receivables						84,316						83,368
Bank deposit certificates						25,859						101,043
Federal Public Title						16,009						15,987
Agribusiness credit bills (LCA)						11,702						36,709
National treasury notes (NTN)						11,551						12,973
Real estate credit bills (LCI)						7,055						1,516
Subtotal						1,592,243						1,373,834
Total						24,703,003						23,899,551

As of March 31, 2025, the expected credit losses of securities was R$ R$ (48,462)(December 31, 2024: R$(53,487)).

29

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

b.Breakdown of the carrying amount of securities by maturity, net of provisions for expected credit losses

			03/31/2025
			Up to 3 months						3 months to 1 year						1 year to 3 years						From 3 to 5 years						Above 5 years						Accounting balance
Fair value through other comprehensive income - FVOCI			384,514						4,214,206						3,725,809						9,138,418						3,953,616						21,416,563
Financial treasury bills (LFT)			—						326,504						1,184,625						7,835,866						1,619,106						10,966,101
Securities issued abroad			188,523						3,755,257						—						—						—						3,943,780
National treasury notes (NTN)			172,761						—						1,002,793						407,826						2,188,850						3,772,230
National treasury bills (LTN)			—						35,971						1,368,183						518,767						—						1,922,921
Commercial promissory notes			20,208						96,474						126,307						298,728						—						541,717
Investment fund shares			—						—						9,552						32,241						74,705						116,498
Certificates of agricultural receivables			(95)						—						34,250						30,244						—						64,399
Certificates of real estate receivables			—						—						—						—						62,688						62,688
Debentures			3,117						—						99						14,746						8,267						26,229
Amortized cost			84,916						218,833						659,994						53,244						677,210						1,694,197
National treasury notes (NTN)			—						—						—						—						677,210						677,210
National treasury bills (LTN)			—						—						485,949						50,084						—						536,033
Rural product bill			84,916						218,833						174,045						3,160						—						480,954
Fair value through profit or loss - FVTPL			407,035						330,578						158,054						142,022						554,554						1,592,243
Investment fund shares			404,806						—						—						—						143,046						547,852
Financial treasury bills (LFT)			—						302,960						103,219						19,869						—						426,048
Certificates of real estate receivables			—						326						7,167						47,554						168,980						224,027
Commercial promissory notes			—						—						—						25,078						100,641						125,719
Debentures			4						1,656						9,257						10,627						90,561						112,105
Certificates of agricultural receivables			6						1,021						20,941						38,087						24,261						84,316
Bank deposit certificates			193						11,569						13,396						649						52						25,859
Federal Public Title			—						—						—						—						16,009						16,009
Agribusiness credit bills (LCA)			1,208						7,036						3,336						109						13						11,702
National treasury notes (NTN)			—						—						560						—						10,991						11,551
Real estate credit bills (LCI)			818						6,010						178						49						—						7,055
Total			876,465						4,763,617						4,543,857						9,333,684						5,185,380						24,703,003

30

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

			03/31/2024
			Up to 3 months						3 months to 1 year						1 year to 3 years						From 3 to 5 years						Above 5 years						Book value
Fair value through other comprehensive income - FVOCI			906,003						3,694,441						2,912,511						8,559,626						4,839,957						20,912,538
Financial treasury bills (LFT)			—						—						1,031,372						7,612,413						1,993,802						10,637,587
Securities issued abroad			431,417						3,398,685						—						—						—						3,830,102
National treasury notes (NTN)			—						168,034						1,005,067						404,732						2,153,583						3,731,416
National treasury bills (LTN)			451,864						—						744,217						343,973						274,764						1,814,818
Commercial promissory notes			—						122,555						100,993						117,240						252,239						593,027
Investment fund shares			—						—						7,251						31,049						120,414						158,714
Certificates of agricultural receivables			10,298						—						23,476						29,367						—						63,141
Certificates of real estate receivables			11,320						—						—						6,075						32,458						49,853
Debentures			1,104						5,167						135						14,777						12,697						33,880
Amortized cost			—						159,232						719,935						62,173						671,839						1,613,179
National treasury notes (NTN)			—						—						—						—						671,839						671,839
National treasury bills (LTN)			—						—						469,309						48,341						—						517,650
Rural product bill			—						159,232						250,626						13,832						—						423,690
Fair value through profit or loss - FVTPL			362,169						257,234						314,459						124,766						315,206						1,373,834
Investment fund quotas			288,707						—						4,509						—						—						293,216
Financial treasury bills (LFT)			21,622						219,135						194,586						10,977						5,104						451,424
Certificates of real estate receivables			154						35						10,906						36,137						180,105						227,337
Commercial promissory notes			—						—						—						25,069						—						25,069
Debentures			27,854						168						9,176						11,604						76,390						125,192
Certificates of agricultural receivables			32						61						19,374						40,533						23,368						83,368
Bank deposit certificates			23,002						7,759						68,489						412						1,381						101,043
Federal Public Title			—						—						—						—						15,987						15,987
Agribusiness credit bills (LCA)			642						28,808						7,192						34						33						36,709
National treasury notes (NTN)			—						—						135						—						12,838						12,973
Real estate credit bills (LCI)			156						1,268						92						—						—						1,516
Total			1,268,172						4,110,907						3,946,905						8,746,565						5,827,002						23,899,551

11.Derivative financial instruments

Inter&Co engages in operations involving financial derivative instruments in the institution's risk management, as well as to meet the demands of its customers. These operations involve swaps, indices, futures and terms derivatives.

a.Derivative financial instruments – adjustment to fair value by maturity

			Notional						Amortized cost						Fair value						Up to 3 months						3 months to 1 year						1 year to 3 years						Above 3 years						03/31/2025						12/31/2024
Assets
Future derivatives			2,683,917						442						442						—						380						60						2						442						35
Forward derivatives			1,200,109						7,721						7,721						144						7,577						—						—						7,721						528
Total assets			3,884,026						8,163						8,163						144						7,957						60						2						8,163						563
Liabilities
Future derivatives			(10,475,862)						(365)						(365)						1						(368)						—						2						(365)						(46)
Forward derivatives			—						—						—						—						—						—						—						—						(64,539)
Swap derivatives			(13,500)						(5,498)						(5,498)						—						(5,498)						—						—						(5,498)						(5,463)
Total liabilities			(10,489,362)						(5,863)						(5,863)						1						(5,866)						—						2						(5,863)						(70,048)
Net effect			(6,605,336)						2,300						2,300						145						2,091						60						4						2,300						(69,485)

31

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

b.Forward, future and swap contracts – notional value

Reference value of all derivatives by maturity date is provided below:

			Up to 3 months						3 months to 1 year						1 year to 3 years						Above 3 years						03/31/2025						12/31/2024
Long position			1,301,324						2,554,120						27,803						779						3,884,026						2,719,142
Future			1,301,180						1,354,155						27,803						779						2,683,917						2,718,614
Forward			144						1,199,965						—						—						1,200,109						528
Short position			(3,030,930)						(2,571,803)						(2,067,633)						(2,818,996)						(10,489,362)						(12,521,388)
Future			(3,030,930)						(2,558,303)						(2,067,633)						(2,818,996)						(10,475,862)						(11,319,949)
Forward			—						—						—						—						—						(1,187,939)
Swap			—						(13,500)						—						—						(13,500)						(13,500)
Total			(1,729,606)						(17,683)						(2,039,830)						(2,818,217)						(6,605,336)						(9,802,246)

Swap contracts: The swaps were carried out with the purpose of mitigating the market risk associated with the mismatch between the indexes of the mortgage loan portfolio and the indexes of the funding portfolio. As of March 31, 2025, Inter had active swap contracts in CDI and liabilities in IGP-M, with a margin deposit and recognized at their fair value in the income statement.

Forward Agreements: Forward contracts were entered into both to mitigate market risks arising from Inter's exposure and to meet specific customer demands. Forward contracts consider the purchase or sale of a given asset based on a previously agreed price, with settlement on a future date.

Futures contracts: Futures contracts were entered into with the aim of mitigating (i) risks arising from exposures linked to the exchange rate, including investments abroad, as well as (ii) risks arising from the mismatch between interest rates on active positions and funding rates.

Transactions involving derivative financial instruments (futures contracts, currency forwards and swaps) are held in custody at B3 S.A. – BRASIL, BOLSA, BALCÃO.

32

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

c.Hedge accounting - exposure

Inter&Co has accounting hedges for some of its loans, investments and foreign currency exposures. The accounting hedge treatment is carried out in accordance with the strategy and purpose of the structure, and may be (i) Fair Value Hedge, (ii) Cash Flow Hedge or (iii) Foreign Investment Hedge. In this context, part of the result of the structure may be recognized in the account of other comprehensive income in equity, net of tax effects, and are only transferred to the result in the event of ineffectiveness of the hedge or liquidation of the structure.

						03/31/2025						12/31/2024
Hedge instruments						7,250,821						7,746,620
Future DI (a)						2,868,914						3,218,086
IPCA (a)						3,272,501						3,396,865
Future dollar (b)						1,082,405						1,105,326
Swap (c)						27,001						26,344
Hedge object						7,102,038						7,656,991
Loans (a)						2,762,281						3,165,012
Real estate loans (c)						3,237,795						3,381,406
Investment abroad (b)						1,101,962						1,110,573

(a) DI rate refers to the average overnight interbank loan rates in Brazil. Refers to loan portfolios, including advance FGTS withdrawals and payroll loans;

(b) Used to protect investments in subsidiaries abroad; and

(c) Refers to the real estate loan portfolio.

12.Loans and advances to customers, net of provisions for expected credit losses

a.Breakdown of balance

			03/31/2025												12/31/2024
Credit card			12,251,920						32.75		%				11,799,890						33.14		%
Real estate loans			12,200,387						32.63		%				11,250,187						31.60		%
Personal loans			8,909,592						23.83		%				8,236,791						23.14		%
Business loans			3,747,963						10.02		%				3,968,591						11.15		%
Agribusiness loans			285,462						0.76		%				340,834						0.96		%
Total			37,395,324						100.00		%				35,596,293						100.00		%
Provision for expected credit losses			(2,307,044)												(2,268,938)
Net balance			35,088,280												33,327,355

b.Breakdown by maturity

						03/31/2025						12/31/2024
Overdue by 1 day or more						4,145,673						3,949,602
To fall due in up to 3 months						3,582,332						3,807,585
To fall due between 3 to 12 months						11,172,473						9,242,130
To fall due in more than 12 months						18,494,846						18,596,976
Total						37,395,324						35,596,293

33

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

c.Analysis of changes in loans and advances to customers by stage:

Stage 1						Opening balance at 01/01/2025						Transfer to Stage 2						Transfer to Stage 3						Transfer from Stage 2						Transfer from Stage 3						Settled contracts						Write-off for loss						Origination/ receipt						Ending balance at 03/31/2025						Ending balance at 12/31/2024
Credit card						10,330,639						(774,261)						(987)						98,380						—						(821,328)						—						1,368,205						10,200,648						10,330,639
Real estate loans						10,196,928						(704,546)						(7,467)						521,355						1,016						(241,489)						—						1,319,566						11,085,363						10,196,928
Personal loans						7,389,879						(179,819)						(18,036)						140,656						75,012						(475,871)						—						1,210,794						8,142,615						7,389,879
Business loans						3,887,678						(73,606)						(2,459)						22,223						—						(1,689,388)						—						1,493,834						3,638,282						3,887,678
Agribusiness loans						340,834						(3,748)						(743)						—						—						(78,239)						—						22,867						280,971						340,834
Total						32,145,958						(1,735,980)						(29,692)						782,614						76,028						(3,306,315)						—						5,415,266						33,347,879						32,145,958
Stage 2						Opening balance at 01/01/2025						Transfer to Stage 1						Transfer to Stage 3						Transfer from Stage 1						Transfer from Stage 3						Settled contracts						Write-off for loss						Origination/ receipt						Ending balance at 03/31/2025						Ending balance at 12/31/2024
Credit card						281,503						(98,380)						(365,417)						774,261						562						(387,792)						—						710,440						915,177						281,503
Real estate loans						835,131						(521,355)						(243,475)						704,546						12,252						(51,588)						—						(7,362)						728,149						835,131
Personal loans						257,816						(140,656)						(87,926)						179,819						17,728						(44,950)						—						(19,030)						162,801						257,816
Business loans						44,090						(22,223)						(38,256)						73,606						22						(3,704)						—						(2,797)						50,738						44,090
Agribusiness loans						—						—						(3,748)						3,748						—						—						—						—						—						—
Total						1,418,540						(782,614)						(738,822)						1,735,980						30,564						(488,034)						—						681,251						1,856,865						1,418,540
Stage 3						Opening balance at 01/01/2025						Transfer to Stage 1						Transfer to Stage 2						Transfer from Stage 1						Transfer from Stage 2						Settled contracts						Write-off for loss						Origination/ receipt						Ending balance at 03/31/2025						Ending balance at 12/31/2024
Credit card						1,187,748						—						(562)						987						365,417						(103,125)						(332,242)						17,872						1,136,095						1,187,748
Real estate loans						218,128						(1,016)						(12,252)						7,467						243,475						(63,013)						—						(5,914)						386,875						218,128
Personal loans						589,096						(75,012)						(17,728)						18,036						87,926						(96,054)						(94,605)						192,517						604,176						589,096
Business loans						36,823						—						(22)						2,459						38,256						(165)						(5,956)						(12,452)						58,943						36,823
Agribusiness loans						—						—						—						743						3,748						—						—						—						4,491						—
Total						2,031,795						(76,028)						(30,564)						29,692						738,822						(262,357)						(432,803)						192,023						2,190,580						2,031,795
Consolidated																														Opening balance at 01/01/2025						Settled contracts						Write-off for loss						Origination/ receipt						Ending balance at 03/31/2025						Ending balance at 12/31/2024
Credit card																														11,799,890						(1,312,245)						(332,242)						2,096,517						12,251,920						11,799,890
Real estate loans																														11,250,187						(356,090)						—						1,306,290						12,200,387						11,250,187
Personal loans																														8,236,791						(616,875)						(94,605)						1,384,281						8,909,592						8,236,791
Business loans																														3,968,591						(1,693,257)						(5,956)						1,478,585						3,747,963						3,968,591
Agribusiness loans																														340,834						(78,239)						—						22,867						285,462						340,834
Total																														35,596,293						(4,056,706)						(432,803)						6,288,540						37,395,324						35,596,293

34

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

d.Analysis of changes in expected credit losses by stage

Stage 1						Opening balance at 01/01/2025						Transfer to Stage 2						Transfer to Stage 3						Transfer from Stage 2						Transfer from Stage 3						Write-off for loss						Constitution/ (Reversal)						Ending balance at 03/31/2025						Ending balance at 12/31/2024
Credit card						427,310						(126,073)						(749)						6,081						—						—						146,900						453,469						427,310
Real estate loans						61,494						(41,672)						(1,265)						6,558						4						—						32,316						57,435						61,494
Personal loans						81,172						(42,750)						(10,043)						10,279						8,103						—						43,529						90,290						81,172
Business loans						10,640						(5,591)						(492)						79						—						—						10,937						15,573						10,640
Agribusiness loans						6,993						(335)						(119)						—						—						—						486						7,025						6,993
Total						587,609						(216,421)						(12,668)						22,997						8,107						—						234,168						623,792						587,609
Stage 2						Opening balance at 01/01/2025						Transfer to Stage 1						Transfer to Stage 3						Transfer from Stage 1						Transfer from Stage 3						Write-off for loss						Constitution/ (Reversal)						Ending balance at 03/31/2025						Ending balance at 12/31/2024
Credit card						172,247						(6,081)						(299,127)						126,073						440						—						276,018						269,570						172,247
Real estate loans						49,709						(6,558)						(41,483)						41,672						190						—						(3,813)						39,717						49,709
Personal loans						56,509						(10,279)						(62,151)						42,750						10,567						—						8,911						46,307						56,509
Business loans						4,670						(79)						(11,765)						5,591						—						—						7,014						5,431						4,670
Agribusiness loans						—						—						(645)						335						—						—						310						—						—
Total						283,135						(22,997)						(415,171)						216,421						11,197						—						288,440						361,025						283,135
Stage 3						Opening balance at 01/01/2025						Transfer to Stage 1						Transfer to Stage 2						Transfer from Stage 1						Transfer from Stage 2						Write-off for loss						Constitution/ (Reversal)						Ending balance at 03/31/2025						Ending balance at 12/31/2024
Credit card						970,797						—						(440)						749						299,127						(332,243)						(14,659)						923,331						970,797
Real estate loans						66,626						(4)						(190)						1,265						41,483						—						(27,987)						81,193						66,626
Personal loans						441,441						(8,103)						(10,567)						10,043						62,151						(94,605)						52,775						453,135						441,441
Business loans						17,276						—						—						492						11,765						(5,955)						5,475						29,053						17,276
Agribusiness loans						(1)						—						—						119						645						—						9						772						(1)
Total						1,496,139						(8,107)						(11,197)						12,668						415,171						(432,803)						15,613						1,487,484						1,496,139
Consolidated																														Opening balance at 01/01/2025						Write-off for loss						Constitution/ (Reversal)						Ending balance at 03/31/2025						Ending balance at 12/31/2024
Credit card																														1,570,354						(332,243)						408,259						1,646,370						1,570,354
Real estate loans																														177,829						—						516						178,345						177,829
Personal loans																														579,122						(94,605)						105,215						589,732						579,122
Business loans																														32,586						(5,955)						23,426						50,057						32,586
Agribusiness loans																														6,992						—						805						7,797						6,992
Total																														2,366,883						(432,803)						538,221						2,472,301						2,366,883

35

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

13.Property and equipment

a.Breakdown of property and equipment:

									03/31/2025																		12/31/2024
			Annual depreciation rate						Historical cost						Accumulated depreciation						Carrying Amount						Historical cost						Accumulated depreciation						Carrying Amount
Furniture and equipment			10% - 20%						241,893						(36,769)						205,124						240,957						(28,659)						212,298
Right-of-use assets - buildings and equipment			4% - 10%						111,792						(16,567)						95,225						110,823						(9,796)						101,027
Buildings			4%						50,829						(16,123)						34,706						50,359						(15,175)						35,184
Data processing systems			20%						33,197						(13,824)						19,373						30,461						(13,608)						16,853
Construction in progress									4,783						—						4,783						4,580						—						4,580
Total									442,494						(83,283)						359,211						437,180						(67,238)						369,942

b.Changes in property and equipment:

			Furniture and equipment			Right-of-use assets - buildings and equipment			Buildings			Data processing systems									Construction in progress			Total
Balance as of December 31, 2024			212,298			101,027			35,184			16,853									4,580			369,942
Addition/Write-offs			2,224			969			470			2,736									203			6,602
Depreciation			(8,110)			(6,771)			(948)			(216)									—			(16,045)
Exchange rate changes			(1,288)			—			—			—									—			(1,288)
Balance as of March 31, 2025			205,124			95,225			34,706			19,373									4,783			359,211
Balance as of December 31, 2023			25,138			108,680			28,166			3,543									2,020			167,547
Addition/Write-offs			9,654			11,720			26			5									—			21,405
Depreciation			(776)			(95)			(880)			(64)									—			(1,815)
Exchange rate changes			(61)						—			—									—			(61)
Balance as of March 31, 2024			33,955			120,305			27,312			3,484									2,020			187,076

36

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

14.Intangible assets

a.Breakdown of intangible assets

									03/31/2025																		12/31/2024
			Annual amortization rate						Historical cost						(Accumulated amortization)						Carrying Amount						Historical cost						(Accumulated amortization)						Carrying Amount
Goodwill									798,018						—						798,018						798,275						—						798,275
Intangible assets in progress									525,366						—						525,366						460,783						—						460,783
Development costs			20						555,750						(228,676)						327,074						530,228						(204,850)						325,378
Right of use			17%						679,972						(409,339)						270,633						628,654						(381,765)						246,889
Customer portfolio			20						13,965						(9,237)						4,728						13,965						(9,237)						4,728
Balance as of December 31, 2024									2,573,071						(647,252)						1,925,819						2,431,905						(595,852)						1,836,053

b.Changes in intangible assets

						Goodwill			Intangible assets in progress			Development costs			Right of use			Customer portfolio			Total
Balance as of December 31, 2024						798,275			460,783			325,378			246,889			4,728			1,836,053
Addition/Write-offs						—			80,726			10,480			50,217			—			141,423
Transfers						—			(16,143)			15,042			1,101			—			—
Amortization						—			—			(23,826)			(27,574)			—			(51,400)
Exchange rate changes						(257)			—			—			—			—			(257)
Balance as of March 31, 2025						798,018			525,366			327,074			270,633			4,728			1,925,819
Balance as of December 31, 2023						635,735			288,045			241,711			173,217			6,596			1,345,304
Addition/Write-offs						—			59,735			—			231,223			—			290,958
Transfers						—			(8,692)			10,227			(1,535)			—			—
Amortization						—			—			(15,639)			(23,980)			(466)			(40,085)
Balance as of March 31, 2024						635,735			339,088			236,299			378,925			6,130			1,596,177

37

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

15.Other assets

			03/31/2025						12/31/2024
Prepaid expenses (a)			597,963						505,127
Recoverable taxes			387,405						630,457
Premium or discount on transfer of financial assets			246,844						216,790
Commissions and bonus receivable (b)			214,323						211,871
Sundry debtors (c)			202,581						267,636
Advances to third parties			123,583						23,369
Pending settlements (d)			108,059						49,342
Unbilled services provided			104,544						115,243
Amount receivable from the sale of investments			86,111						83,194
Agreements on sales of properties receivable			18,605						54,582
Early settlement of credit operations			6,282						4,039
Others			558,931						324,495
Total			2,655,231						2,486,145

(a) The cost of acquiring customers for the digital account and portability expenses to be appropriated;

(b) Refers mainly to bonuses receivable from commercial contracts signed with Mastercard, Liberty and Sompo;

(c) Refers mainly to processing portability amounts, credit card processing amounts, negotiation and intermediation of amounts and debtors for judicial deposit; and

(d) Pending settlements: refers mainly to settlement balances receivable from B3.

16.Liabilities with financial and similar institutions

						03/31/2025						12/31/2024
Payables with credit card network						9,349,728						8,956,528
Securities sold under agreements to repurchase						3,798,106						1,725,852
Interbank deposits						532,312						517,072
Others						127,537						120,125
Total						13,807,683						11,319,577

17.Liabilities with customers

						03/31/2025						12/31/2024
Time deposits						40,140,843						39,228,575
Savings deposits						1,727,777						1,883,432
Demand deposits						1,411,097						1,415,427
Creditors by resources to release						368,051						275,795
Total						43,647,768						42,803,229

18.Securities issued

						03/31/2025						03/31/2024
Real estate credit bills						9,871,589						9,182,632
Real estate guaranteed credit bills						405,938						337,952
Agribusiness credit bills						221,370						184,618
Financial Bills						199,072						185,017
Total						10,697,969						9,890,219

38

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

19.Borrowings and on-lending

						03/31/2025						12/31/2024
Obligations for loans abroad (a)						269,781						—
Onlending obligations - Tesouro Funcafé (b)						108,694						104,400
Onlending obligations – CEF(c)						17,792						18,116
Onlending obligations – BNDES (d)						901						5,603
Others						785						805
Total						397,953						128,924

(a )Loans raised between Jan/25 and Mar/25 with rates of 5.81% to 5.84% p.a.;

(b) Refers to rural credit operations with Funcafé (at a fixed rate of 8% p.a.);

(c) Refers to on-lending operations for real estate loans taken out with Caixa Econômica Federal (at rates of between 4.5% and 8.2% p.a.); and

(d) Refers to Working Capital operations with BNDES (at a fixed rate of up to 6.87% p.a.).

20.Tax liabilities

						03/31/2025						12/31/2024
Income tax and social contribution						350,164						462,501
PIS/COFINS						44,101						46,627
INSS/FGTS						16,834						23,070
Others						50,626						42,231
Total						461,725						574,429

21.Provisions and contingent liabilities

						03/31/2025						12/31/2024
Provision for legal and administrative proceedings						53,697						53,792
Provision for expected credit losses on loan commitments (a)						165,257						97,945
Provision for financial guarantees						4,996						3,525
Total						223,950						155,262

(a) Inter recognizes expected losses for financial assets on loan commitments that include both a used component and an unused loan commitment component. To the extent that the combined value of expected credit losses exceeds the gross carrying amount of the financial asset, the remaining balance is presented as a provision.

a.Provisions for legal an administrative proceedings

The Group's legal entities, in the normal course of their activities, are parties to tax, social security, labor and civil lawsuits. The respective provisions were made in accordance with the applicable law and regulations, the opinion of legal advisors, the nature and complexity of the cases, case law, past loss experience and other relevant criteria that allow the most adequate estimate.

i.Labor lawsuits

These lawsuits are filed seeking to obtain indemnities of labor nature. Amounts provisioned are related to processes in which alleged labor rights are discussed, such as overtime and salary equalization. On an individual basis, amounts provided for labor lawsuits are not material.

ii.Civil lawsuits

Most of civil lawsuits refer to indemnities for material and moral damages related to certain products offered by the Group, such as payroll deductible loans, in addition to declaratory and remedial actions, compliance with a 30% deduction limit from a borrower's salary, presentation of documents and adjustment actions.

39

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

Changes in provisions

			Labor						Civil						Total
Balance at December 31, 2024			13,924						39,868						53,792
Constitution/increase in provision			1,993						9,768						11,761
Payments			(1,358)						(10,498)						(11,856)
Balance at March 31, 2025			14,559						39,138						53,697
Balance at December 31, 2023			5,982						33,386						39,368
Constitution/increase in provision			1,094						8,440						9,534
Payments			(485)						(5,471)						(5,956)
Balance at March 31, 2024			6,591						36,355						42,946

b.Contingent tax liabilities classified as possible losses

The main proceedings with this classification are:

i.Income tax and social contribution on net income – IRPJ and CSLL

On August 30, 2013, a tax assessment notice was issued (referring to some expenses considered as non-deductible) requiring the payment of amounts of income tax and social contribution related to the calendar years 2008 to 2009.

03/31/2025												12/31/2024
Total value						Value at risk						Total value						Value at risk
64,156						30,721						63,301						30,312

ii.COFINS

The Group is discussing COFINS fines from the period 1999 to 2014.

Before the publication of Law No. 12,973/14, which changed the understanding on the inclusion of financial revenues in the COFINS calculation basis, there was discussion about expanding the calculation basis of the aforementioned contribution promoted by §1° of art. 3° of Law No. 9,718/98.

In 2005, Inter obtained a favorable final and unappealable decision from the Federal Supreme Court, granting it the right to pay COFINS based only on the revenue from services rendered, instead of the total revenue that would include financial revenues.

During the period from 1999 to 2006, Inter made judicial deposits and/or made the payment of the obligation. In 2006, through a favorable decision by the Supreme Federal Court and the express consent of the Federal Revenue Service, Inter's judicial deposit was released. Additionally, the authorization to use the credits, for amounts previously overpaid, against current obligations, was homologated without challenge by the Federal Revenue Service on May 11, 2006. Subsequently, the Federal Revenue Service challenged the procedures adopted by Inter, applying the understanding that financial revenues should be included in the COFINS calculation basis.

After the enactment of Law 12.973/14, Inter modified its procedures to include financial revenues in the COFINS calculation basis and, therefore, all the taxable events involved in Group’s discussions are prior to this law.

40

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

Currently, the application of material res judicata is being discussed in a separate legal action that ensured Inter's right not to collect COFINS on its financial revenues, so the Supreme Federal Court's ruling on Theme 372 does not directly affect Group's discussions.

03/31/2025												12/31/2024
Total value						Value at risk						Total value						Value at risk
155,915						69,705						153,760						68,738

22.Other liabilities

						03/31/2025						12/31/2024
Payments to be processed (a)						1,578,242						1,896,283
Pending settlements (b)						193,836						50,202
Social and statutory provisions						133,840						206,392
Lease liabilities (Note 23.b)						106,663						113,690
Agreements						97,789						19,755
Contract liabilities (c)						37,310						38,205
Other liabilities						47,702						58,405
Total						2,195,382						2,382,932

(a)    The balance is substantially composed of: (i) credit operation installments to be transferred, (ii) payment orders to be settled, (iii) suppliers to be paid, (iv) liabilities from business combination and (v) fees to be paid;

(b)     Refer to customer operations intended for carrying out business with fixed income securities, shares, commodities and financial assets, which will be settled within a maximum period of D+5; and

(c) The balance consists of amounts received, not yet recognized in the income statement arising from the exclusive contract for insurance products signed between the subsidiary Inter Digital Corretora and Consultoria de Seguros Ltda. (“Inter Seguros”) and Liberty Seguros.

a.Lease liabilities

The changes in lease liabilities in the year ended March 31, 2025 and year ended December 31, 2024 are as follows:

Balance at December 31, 2024			113,690
Payments			(8,993)
Accrued interest			1,966
Ending balance at March 31, 2025			106,663
Balance at December 31, 2023			120,395
New contracts			1,813
Payments			(36,993)
Accrued interest			28,475
Ending balance at December 31, 2024			113,690

b.    Lease maturity

The maturity of the lease liabilities as of March 31, 2025 and December 31, 2024 is as follows:

			03/31/2025						12/31/2024
Up to 1 year			795						1,011
From 1 year to 5 years			105,868						10,584
Above 5 years			—						102,095
Total			106,663						113,690

41

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

23.Equity

a.Share capital

Date						Class A						Class B						Total
03/31/2025						322,667,066						117,037,105						439,704,171
12/31/2024						322,664,816						117,037,105						439,701,921

As of March 31, 2025, Inter & Co, Inc.'s authorized share capital is US$50,000 divided into 20,000,000,000 shares with par value of US$0.0000025 each, of which (i) 10,000,000,000 class A shares, (ii) 5,000,000,000 class B shares and (iii) 5,000,000,000 regardless of the classes of shares, with rights designated by the Company's Board of Directors. The share capital comprising shares issued refers to the authorized capital. The paid-up share capital of Inter & Co. Inc was R$ 13 at March 31, 2025 (December 31, 2024: R$13).

On January 16, 2024, Inter&Co announced the commencement of the public offering of 36,800,000 (thirty-six million, eight hundred thousand) class A common shares. The offering was priced on January 18, 2024 at US$4.40 (R$21.74) per share and the final settlement of the offering occurred on February 20, 2024, in a gross amount of R$823,036 and an equity securities issuance cost of R$(38,768)recognized in "reserves" in equity.

In 2025, a total of 2,250 new Class A common shares were issued to beneficiaries of our incentive plans.

b.Reserves

As of March 31, 2025, the reserves amounted to R$ 9,901,230 (December 31, 2024: R$9,793,992).

c.Other comprehensive income

As of March 31, 2025, Inter & Co, Inc’s accumulated other comprehensive income in equity amounted to R$(985,968), (December 31, 2024: R$(898,830)), an amount comprised of the net value of financial assets at FVOCI, exchange rate adjustment of a subsidiary abroad and taxes.

d.Dividends and interest on equity

During the year ended March 31, 2025, Inter&Co Inc., made dividend payments in the amount of R$203.593 to its shareholders.

e.Basic and diluted earnings per share

Basic and diluted earnings per share is as follows:

						03/31/2025						03/31/2024
Profit (loss) attributable to Owners of the company (In thousands of Reais)						286,589						182,793
Average number of shares outstanding						439,891,876						425,997,486
Basic earnings per share (R$)						0.65						0.43
Diluted earnings per share (R$)						0.65						0.43

Basic and diluted earnings (loss) per share are presented based on the aggregate of the two classes, A and B, and are calculated by dividing the profit (loss) attributable to the parent company by the weighted average number of shares of each class outstanding in the periods.

On March 31, 2025, Inter & Co reported dilutive effects for the purposes of calculating diluted earnings per share. These effects were due to the shares granted under share-based payment plans, with a weighted average number of 2,892,337.

42

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

f.Non-controlling interest

As of March 31, 2025, the balance of non-controlling interests is R$112,294 (December 31, 2024: R$177,132).

g.Reflex reserve

As of March 31, 2025, the reflex reserve is R$9.402 (December 31, 2024: R$43.074). The reflex reserve is mainly composed of share-based payments of Banco Inter.

h.    Treasury shares

As of March 31, 2025, treasury shares amount to R$(14,719), consisting of 144,308 class A shares.

24.Net interest income

						03/31/2025						03/31/2024
Interest income
Personal loans						473,524						275,126
Real estate loans						443,469						268,726
Credit card						403,675						352,400
Prepayment of receivables						240,697						59,662
Business loans						127,223						124,639
Amounts due from financial institutions						31,738						117,429
Others						86,544						19,549
Total						1,806,870						1,217,531
Interest expenses
Term deposits						(697,806)						(432,673)
Funding in the open market						(388,645)						(248,176)
Saving						(30,306)						(23,453)
Financial institutions deposits						(15,239)						(42,892)
Others						(47,024)						(15,053)
Total						(1,179,020)						(762,247)

25.Income from securities, derivatives and foreign exchange

						03/31/2025						03/31/2024
Income from securities						737,446						446,721
Fair value through other comprehensive income						611,742						380,394
Fair value through profit or loss						122,243						49,226
Amortized cost						3,461						17,101
Income from Derivatives						(19,187)						68,662
Future dollar contracts						75,736						3,594
Forward contracts						(27,091)						(1,212)
Futures contracts and swaps (a)						(67,832)						66,280
Revenue foreign exchange (b)						16,485						21,755
Total						734,744						537,138

(a) The fair value adjustments of the hedge instrument offset the effects of the result from Hedge Accounting derivatives.

(b) Previously presented in the income statement under other revenues.

43

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

26.Net revenues from services and commissions

						03/31/2025						03/31/2024
Interchange						308,341						241,891
Commission and brokerage fees						193,621						146,067
Investments						33,601						28,732
Banking and credit operations						11,897						25,838
Other						16,560						25,280
Inter Loop (a)						(35,976)						(30,086)
Cashback expenses (b)						(68,120)						(63,382)
Total						459,924						374,340

(a)    This is a loyalty and rewards program offered by Banco Inter. Through this program, bank customers accumulate points in their transactions and financial operations and can exchange them for benefits, discounts, products or services; and

(b)     Refers to amounts paid to customers as an incentive to purchase or use products.

27.Other revenues

						03/31/2025						03/31/2024
Card network revenue						35,257						17,462
Performance fees (a)						9,130						24,264
Revenue from sale of goods						6,445						4,315
Capital gains						(1,952)						3,255
Others						7,213						18,905
Total						56,093						68,201

(a)     Consists substantially of the result of the commercial agreements between entities of the Group and Mastercard, B3 and Liberty, which offers performance bonuses as the established goals are met.

28.Impairment losses on financial assets

						03/31/2025						03/31/2024
Impairment expense for loans and advances to customers						(538,221)						(467,775)
Recovery of written-off credits assets						27,435						54,009
Others						(2,895)						2,718
Total						(513,681)						(411,048)

29.Administrative expenses

						03/31/2025						03/31/2024
Data processing and information technology						(253,291)						(207,445)
Third party services and financial system services						(135,934)						(67,177)
Advertisement and marketing						(59,193)						(34,101)
Rent, condominium fee and property maintenance						(12,095)						(17,622)
Provisions for contingencies						(11,761)						(9,534)
Insurance expenses						(1,899)						(4,609)
Others						(54,026)						(54,756)
Total						(528,200)						(395,244)

44

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

30.Personnel expenses

						03/31/2025						03/31/2024
Salaries						(120,620)						(102,405)
Benefits						(72,635)						(54,109)
Social security charges						(39,236)						(32,324)
Others						(2,382)						(1,625)
Total						(234,873)						(190,463)

31.Tax expenses

						03/31/2025						03/31/2024
PIS/COFINS						(96,701)						(68,327)
ISSQN						(16,621)						(4,350)
INSS						(11,428)						(3,554)
Others						(11,307)						(10,100)
Total						(136,056)						(86,331)

32.Current and deferred income tax and social contribution

a.Amounts recognized in profit or loss

						03/31/2025						03/31/2024
Current income tax and social contribution expenses
Current year						(259,773)						(87,923)
Deferred income tax and social contribution benefits (expenses)
Provision for impairment losses on loans and advances						203,364						32,036
Provision for contingencies						(158)						1,590
Adjustment of financial assets to fair value						(14,893)						(10,854)
Other temporary differences						19,970						26,404
Tax losses carried forward						(3,283)						(39,765)
Others						4,014						—
Total deferred income tax and social contribution						209,014						9,411
Total income tax						(50,759)						(78,512)

45

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

b.Reconciliation of effective rate current income tax expense

						03/31/2025						03/31/2024
Profit before tax						357,545						273,732
Income tax and social contribution - (45%) (a)						(160,895)						(123,179)
Tax effect of
Dividend paid as interest on equity						15,375						17,008
Non-taxable income (non-deductible expenses) net						47,455						5,061
Tax incentives						—						771
Subsidiaries subject to different tax regimes and rates						26,944						10,238
Others						20,362						11,589
Total income tax						(50,759)						(78,512)
Effective tax rate						(14)		%				(29)		%
Total deferred income tax and social contribution						209,014						9,411
Total income tax and social contribution expenses						(259,773)						(87,923)

(a)    The result from Banco Inter represents the greatest impact on the total amount of taxes, so we present the tax rate of 45%, which is the nominal rate currently in force for banks under Brazilian legislation.

c.Changes in the balances of deferred taxes

						12/31/2024						Constitution						Realization						03/31/2025
Deferred tax assets
Provision for impairment losses on loans and advances						815,679						225,256						(21,892)						1,019,043
Adjustment of financial assets to fair value						442,773						257,874						(279,020)						421,627
Tax losses carried forward						336,535						5,569						(8,852)						333,252
Hedge Accounting						39,187						3,223						—						42,410
Provision for contingencies						24,831						23,350						(23,508)						24,673
Other temporary differences						46,049						7,856						(46,049)						7,856
Subtotal						1,705,054						523,128						(379,321)						1,848,861
Deferred tax liabilities
Hedge Accounting						(17,356)						(38,543)						—						(55,899)
Capital gains from assets in business combinations						(11,357)						(244)						979						(10,622)
Deferred Income						(32,790)						(8,260)						148						(40,902)
Subtotal						(61,503)						(47,047)						1,127						(107,423)
Total net deferred tax assets (liabilities) (a)						1,643,551						476,081						(378,194)						1,741,438

(a)    The recognition of these deferred tax assets are based on the expectation of generating future taxable income and supported by technical studies and income projections.

46

---

			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

						Balance at 12/31/2023						Constitution						Realization						Balance at 03/31/2024
Deferred tax assets
Provision for impairment losses on loans and advances						630,817						241,379						(208,545)						663,651
Adjustment of financial assets to fair value						137,729						142,165						(110,357)						169,537
Tax losses carried forward						164,831						14,337						(51,858)						127,310
Provision for contingencies						17,720						4,596						(3,805)						18,511
Other temporary differences						82,438						40,669						(20,014)						103,093
Subtotal						1,033,535						443,146						(394,579)						1,082,102
Deferred tax liabilities
Hedge accounting						(4,637)						—						5,931						1,294
Capital gains from assets in business combinations						(27,902)						—						869						(27,033)
Deferred Income						—						(24,173)						—						(24,173)
Subtotal						(32,539)						(24,173)						6,800						(49,912)
Total net deferred tax assets (liabilities) (a)						1,000,996						418,973						(387,779)						1,032,190

(a)    The recognition of these deferred tax assets are based on the expectation of generating future taxable income and supported by technical studies and income projections.

33.Share-based payment

a.Share-based compensation agreements

a.1) Stock option plan - Banco Inter S.A.

Between February 2018 and January 2022, Banco Inter S.A. established stock option programs through which Inter managers and executives were granted options for the acquisition of Banco Inter S.A. Shares.

The Extraordinary General Meeting of Inter&Co, Inc. held on January 4, 2023 approved the migration of share-based payment plans, with the assumption by Inter&Co of the obligations of Banco Inter S.A. arising from the active plans and the respective programs. As a result of the corporate reorganization, the number of options held by each beneficiary was proportionally changed. Thus, for every 6 options to purchase common shares or preferred shares of Banco Inter S.A. the beneficiaries will have 1 option to purchase a Class A share of Inter&Co. In addition, the repricing of the exercise price of the options granted in 2022, which had not yet been granted, was approved. On the occasion of the repricing, the fair value of the options granted and not exercised was recalculated, and an additional amount of R$15,990 of incremental expense was calculated, to be appropriated until the final vesting period.

The main characteristics of the plans are described below:

Grant Date

Final strike date

Options (shares INTR)

Vesting

Average strike price

Participants

02/15/2018

02/15/2025

5,452,464

Up to 5 years

R$1.80

Officers, managers and key employees

07/09/2020

07/09/2027

3,182,250

Up to 5 years

R$21.50

Officers, managers and key employees

01/31/2022

12/31/2028

3,250,000

Up to 5 years

R$15.50

Officers, managers and key employees

47

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

Changes in the options of each plan for the period ended March 31, 2025 and supplementary information are shown below:

Grant Date						12/31/2024						Granted						Expired/Cancelled						Exercised						03/31/2025
2018						71,999						—						—						71,999						—
2020						2,443,088						—						4,350						35,700						2,403,038
2022						2,644,725						—						13,075						29,625						2,602,025
Total						5,159,812						—						17,425						137,324						5,005,063
Weighted average price of the shares						R$	18.15					R$	—					R$	17.00					R$	9.88					R$	18.38

Grant Date						12/31/2023						Granted						Expired/Cancelled						Exercised						12/31/2024
2018						115,799						—						—						43,800						71,999
2020						2,519,138						—						8,325						67,725						2,443,088
2022						2,815,750						—						77,125						93,900						2,644,725
Total						5,450,687						—						85,450						205,425						5,159,812
Weighted average price of the shares						R$ 17,98						R$	—					R$ 16,08						R$ 14,56						R$ 18,15

The fair values of the period of 2018 and 2020 plans were estimated based on the Black & Scholes option valuation model considering the terms and conditions under which the options were granted, and the respective compensation expense is recognized during the vesting period.

						2018						2020
Strike price						1.80						21.50
Risk-free rate						9.97		%				9.98		%
Duration of the strike (years)						7						7
Expected annualized volatility						64.28		%				64.28		%
Fair value of the option at the grant/share date:						0.05						0.05

For the 2022 program, the fair value was estimated based on the Binomial model:

						2022
Strike price						15.50
Risk-free rate						11.45		%
Duration of the strike (years)						7
Expected annualized volatility						38.81		%
Weighted fair value of the option at the grant/share date:						4.08

In the period ended March 31, 2025, costs amounting to R$ 3,429 (March 31, 2024: R$ 4,231) were recognized in employee benefit expenses.

48

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

a.2) Share-based payment related to Inter & Co Payments, Inc., acquisition

In the context of the acquisition of Inter&Co Payments by Inter, it was established that part of the payment to key executives of the acquired entity would be made by migrating the share-based payment plan of Inter & Co Payments, Inc., with stock options for class A shares and restricted class A shares of Inter & Co, in addition to the granting of shares issued by the Company. Considering the characteristics of the contract signed between the parties, the expense associated with the options granted are treated as a compensation expense which will be expensed over the term of the vested options and based on continued employment of such key executives.

Inter has the right to repurchase the restricted shares if these key executives cease to provide services to the Company within the term of the acquisition contract. Nevertheless, all shares will remain subject to other transfer restrictions established in the contract and in the applicable legislation.

The main characteristics of these stock-based payments are described below:

Grant Date

Options

Vesting

Average strike price (a)

Participants

Vesting date of 100% of shares

2022

489,386

Up 3 years

R$ 11,03 per Class A

Key Executives

12/30/2024

(a)    Number of options and strike price from Inter&Co Payments, Inc.’s equity incentive plan has been agreed by the Parties at the time of the acquisition. The number of options and strike price, after the Company’s reorganization and listing on Nasdaq have been recalculated in accordance with the rate between Inter’s shares and the Company’s Class A Shares. According to the contract signed between the parties, the corresponding amount is USD 1.92. The values presented in reais were converted using the dollar FX rate as of March 31, 2025.

Stock options exercised:

Grant Date

Shares

Participants

Final exercise date

2022

643,500

Key Executives

12/30/2024

Changes in Inter&Co Payments, Inc.’s granted instruments for December 31, 2024 and supplementary information are shown below:

Grant Date						12/31/2024						Granted Options						Expired/Cancelled						Exercised						3/31/2025
2022						489,386						—						—						—						489,386
Total						489,386						—						—						—						489,386
Weighted average price of the shares						R$	11.89					R$	—					R$	—					R$	—					R$	11.03

Grant Date						12/31/2023						Granted Options						Expired/Cancelled						Exercised						12/31/2024
2022						489,386						—						—						—						489,386
Total						489,386						—						—						—						489,386
Weighted average price of the shares						R$	9.30					R$	—					R$	—					R$	—					R$	11.89

Grant Date						12/31/2024						Granted Shares						Expired/Cancelled						Put option exercise						3/31/2025
2022						282,683						—						—						282,683						—
Total						282,683						—						—						282,683						—

Grant Date						12/31/2023						Granted Shares						Expired/Cancelled						Put option exercise						12/31/2024
2022						482,625						—						—						199,942						282,683
Total						482,625						—						—						199,942						282,683

49

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

For the period ending on March 31, 2025, the amount of R$ 3,798 (March 31, 2024: R$ 4,815) was recognized as employee benefit expenses in the income statement of the Company.

a.3) Restricted shares agreement (RSU) - Inter.

The Extraordinary General Meeting of Inter&Co, Inc. held on January 4, 2023 approved the creation of the Omnibus Incentive Plan, which aims to promote the interests of the Company and its shareholders, strengthening the Company's ability to attract, retain and motivate employees who are expected to make contributions to the Company and to provide these people with incentives to align their interests with those of the Company’s shareholders.

The Omnibus Incentive Plan is administered by the Board of Directors of Inter&Co, Inc., which has the authority to approve grants under the program to the Company's employees.

In 2023, the Company granted 2,155,500 restricted stock units (RSUs) under the Omnibus Incentive Plan with vesting schedules of 25% blocks to various executives and employees of the Company and/or its direct or indirect subsidiaries. The vesting schedules are set forth in each grant agreement. As of December 31, 2024, 106,000 RSUs granted have vested and 1,074,750 RSUs were exercised.

In 2024, the Company granted 2,115,000 restricted stock units (RSUs) under the Omnibus Incentive Plan with vesting schedules of 25% blocks to various executives and employees of the Company and/or its direct or indirect subsidiaries. The vesting schedules are set forth in each grant agreement. As of March 31, 2025, 109,250 RSUs granted had expired and 508,750 RSUs had been exercised.

In the first quarter of 2025, the Company granted 2,050,522 restricted stock units (RSUs) under the Omnibus Incentive Plan with vesting schedules of 25% blocks to various executives and employees of the Company and/or its direct or indirect subsidiaries. Vesting schedules are set out in each grant agreement. Until March 31, 2025, there was no exercise or prescription.

See table below:

03/31/2025
Date of grant						Exercise rate per vesting						Fair value of share (in R$)						Remaining term of the vesting period (in years)						Vesting period (years)						Total granted						Total not vested yet
06/01/2023						25%						R$14.15						2,0						4.0						2,140,500						944,000
11/01/2023						25%						R$22.99						3,0						4.0						15,000						11,250
02/01/2024						25%						R$25.22						3,0						4.0						10,000						—
04/01/2024						25%						R$29.11						3,0						4.0						120,000						80,000
04/26/2024						25%						R$26.27						3,0						4.0						1,795,000						1,282,000
06/04/2024						25%						R$30.35						3,0						4.0						60,000						60,000
07/01/2024						25%						R$33.07						2,0						3.0						50,000						37,500
07/17/2024						25%						R$36.47						3,0						4.0						30,000						—
09/04/2024						25%						R$40.39						2,0						3.0						50,000						37,500
01/29/2025						25%						R$28.18						4,0						4.0						1,850,000						1,850,000
01/31/2025						25%						R$29.02						4,0						4.0						190,522						190,522
02/24/2025						25%						R$28.03						4,0						4.0						10,000						10,000
Total																														6,321,022						4,502,772

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

12/31/2024
Date of grant						Exercise rate per vesting						Fair value of share (in R$)						Remaining term of the vesting period (in years)						Vesting period (years)						Total granted						Total not vested yet
06/01/2023						25%						R$14.15						2,0						4.0						2,140,500						963,500
01/11/2023						25%						R$22.99						3,0						4.0						15,000						11,250
02/01/2024						25%						R$25.22						3.0						4.0						10,000						7,500
04/01/2024						25%						R$29.11						3.0						4.0						120,000						95,000
04/26/2024						25%						R$26.27						3.0						4.0						1,795,000						1,305,000
06/04/2024						25%						R$30.35						3.0						4.0						60,000						60,000
07/01/2024						25%						R$33.07						2.0						3.0						50,000						37,500
07/17/2024						25%						R$36.47						4.0						4.0						30,000						30,000
09/04/2024						25%						R$40.39						3.0						3.0						50,000						37,500
Total																														4,270,500						2,547,250

In the year ended March 31, 2025, the amount of R$ 9,550 (March 31, 2024: R$ 2,960) was recognized as employee benefit expenses in the income statement of the Company.

51

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

34. Transactions with related parties

Transactions with related parties are defined and controlled in accordance with the Related-Party Policy approved by Inter&Co’s Board of Directors. The policy defines and ensures transactions involving Inter and its shareholders or direct or indirect related parties. Transactions related to subsidiaries are eliminated in the consolidation process, not affecting the consolidated financial statements. Related-party transactions were undertaken as follows:

			Parent Company (a)																		Key management personnel (b)												Other related parties (c)												Total
			03/31/2025						12/31/2024																		03/31/2025						12/31/2024						03/31/2025						12/31/2024						03/31/2025						12/31/2024
Assets			3,729						4,101																		5,668						(5,984)						691,380						754,975						700,777						753,092
Loans and advances to customers			3,729						4,101																		5,668						(5,984)						691,380						641,113						700,777						639,230
Amounts due from financial institutions			—						—																								—						—						113,862						—						113,862
Liabilities			(67,022)						(44,710)																		(18,642)						(16,179)						(142,650)						(121,747)						(228,314)						(182,636)
Liabilities with customers - Demand deposits			(172)						(260)																		(211)						(54)						(837)						(318)						(1,220)						(632)
Liabilities with customers - Term deposits			(66,850)						(44,450)																		(18,431)						(16,125)						(141,813)						(121,429)						(227,094)						(182,004)

			Parent Company (a)																		Key management personnel (c)												Other related parties (d)												Total
			03/31/2025						03/31/2024																		03/31/2025						03/31/2024						03/31/2025						03/31/2024						03/31/2025						03/31/2024
Profit/ (loss)			(1,581)						(90)																		(5,586)						(4,513)						(11,479)						985						(18,646)						(3,618)
Interest income			—						—																		74						1,189						1,693						10,290						1,767						11,479
Interest expenses			(1,559)						(88)																		(540)						(158)						(2,643)						(656)						(4,742)						(902)
Other administrative expenses			(22)						(2)																		(5,120)						(5,544)						(10,529)						(8,649)						(15,671)						(14,195)

(a)    Inter&Co is directly controlled by Costellis International Limited, SBLA Holdings and Hottaire;

(b)     Directors and members of the Board of Directors and Supervisory Board of Inter&Co; and

(c)     Any immediate family members of key management personnel or companies controlled by them, including: companies which are controlled by immediate family members of the controlling shareholder of Inter&Co; companies over which the controlling shareholder or his/hers immediate family members have significant influence; other investors that have significant influence over Inter&Co and their close family members.

Compensation of key management personnel

As of March 31, 2025, an expense was recognized for proceeds in the amount of R$6,784 (R$78,961, as of March 31, 2024).

52

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			Notes to the unaudited interim condensed consolidated financial statements As of March 31, 2025

    35. Subsequent events

Issuance of Subordinated Financial Notes (LFSN)

On April 29, 2025, the Board of Directors approved the 1st issuance of subordinated financial notes (LFSN) for the purpose of composing Tier II of the reference equity. The LFSN were fully allocated to this level and were subject to private placement, exclusively for subscribers. The LFSN were registered with CETIP21, managed by B3 S.A., responsible for electronic settlement and custody, and any negotiations must comply with applicable laws and regulations. The total amount of the issuance was limited to up to R$500,100 (five hundred million and one hundred thousand reais), with the issuance of 1,667 LFSN, each with a unitary nominal value of R$300 (three hundred thousand reais). This structure aims to adapt the entity to its capital needs and strengthen its financial base in accordance with current regulations.

53