<SEC-DOCUMENT>0001292814-25-000706.txt : 20250228
<SEC-HEADER>0001292814-25-000706.hdr.sgml : 20250228
<ACCEPTANCE-DATETIME>20250228165048
ACCESSION NUMBER:		0001292814-25-000706
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		17
CONFORMED PERIOD OF REPORT:	20241231
FILED AS OF DATE:		20250228
DATE AS OF CHANGE:		20250228

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Banco Santander (Brasil) S.A.
		CENTRAL INDEX KEY:			0001471055
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34476
		FILM NUMBER:		25691516

	BUSINESS ADDRESS:	
		STREET 1:		AV. JUSCELINO KUBITSCHEK, 2235
		STREET 2:		AV. JUSCELINO KUBITSCHEK, 2041
		CITY:			SAO PAULO, SP
		STATE:			D5
		ZIP:			04543-011
		BUSINESS PHONE:		(55 11) 3174-8589

	MAIL ADDRESS:	
		STREET 1:		AV. JUSCELINO KUBITSCHEK, 2235
		STREET 2:		AV. JUSCELINO KUBITSCHEK, 2041
		CITY:			SAO PAULO, SP
		STATE:			D5
		ZIP:			04543-011
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>bsbrfs4q24_6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE>FORM 20-F</TITLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 1pt -56.75pt 1pt -56.7pt"><DIV STYLE="font-size: 1pt; border-top: Black 3.5pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 47%; color: black">

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>FORM 6-K</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>REPORT OF FOREIGN PRIVATE
ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>SECURITIES EXCHANGE ACT
OF 1934</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>For the month of February,
2025</B></P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 47%; color: black">

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Commission File Number:
001-34476</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>BANCO SANTANDER (BRASIL)
S.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>(Exact name of registrant
as specified in its charter)</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>Avenida Presidente Juscelino
Kubitschek, 2041 and 2235<BR>
Bloco A &ndash; Vila Olimpia<BR>
S&atilde;o Paulo, SP 04543-011<BR>
Federative Republic of Brazil</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>(Address of principal executive
office)</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white">Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:<FONT STYLE="font-size: 13.5pt">&nbsp;</FONT>Form
20-F ___X___ Form 40-F _______</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; background-color: white"><FONT STYLE="font-size: 13.5pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</FONT><FONT STYLE="font-size: 13.5pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; background-color: white">Yes _______ No ___X____</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; background-color: white"><FONT STYLE="font-size: 13.5pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</FONT><FONT STYLE="font-size: 13.5pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; background-color: white">Yes _______ No ___X____</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; background-color: white"><FONT STYLE="font-size: 13.5pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:</FONT><FONT STYLE="font-size: 13.5pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; background-color: white">Yes _______ No ___X____</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: center; background-color: white"><FONT STYLE="font-size: 13.5pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">If
&ldquo;Yes&rdquo; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):&nbsp;<U>&nbsp;N/A</U></FONT></P>
<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 5pt; text-align: center"></P>

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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&#160;</TD></TR></TABLE></DIV>
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<P STYLE="font: 8pt/8.15pt Arial, Helvetica, Sans-Serif; margin: 0 0 1pt">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD COLSPAN="6" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>BANCO SANTANDER (BRASIL) S.A.</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="6" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="font: 12pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&#160;</TD></TR>
  <TR>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>INDEX</B></FONT></TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom">&#160;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom">&#160;</TD>
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    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="width: 14%">&#160;</TD>
    <TD STYLE="width: 4%">&#160;</TD>
    <TD STYLE="width: 79%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD></TR>
  </TABLE>
<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 1pt 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 95%; padding-top: 2.15pt; padding-bottom: 1pt"><A HREF="#fp_001"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Consolidated Balance Sheet</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></A></TD>
    <TD STYLE="width: 5%; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-9</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><A HREF="#fp_002"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Consolidated Statement of Income</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></A></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-11</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><A HREF="#fp_003"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Consolidated Statement of Comprehensive Income</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></A></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-12</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><A HREF="#fp_004"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Consolidated Statement of Changes in Stockholders&#8217; Equity</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></A></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-13</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><A HREF="#fp_005"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Consolidated Statement of Cash Flows</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></A></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-16</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_006">1.&#9;Operating context, presentation of consolidated financial statements and other information</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-17</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_007">2.&#9;Accounting policies and determination criteria</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-19</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_008">3.&#9;Basis for consolidation</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-37</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_009">4.&#9;Cash and cash equivalents</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-40</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_010">5.&#9;Loans and other receivables from credit institutions</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-40</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_011">6.&#9;Debt instruments</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-41</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_012">7.&#9;Equity instruments</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-42</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_013">8.&#9;Derivative financial instruments</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-43</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_014">9.&#9;Loans and advances to clients</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-54</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_015">10.&#9;Non-current assets held for sale</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-59</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_016">11.&#9;Investments in associates and joint ventures</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-60</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_017">12.&#9;Tangible assets</A>&#9;</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-64</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_018">13.&#9;Intangible assets - Goodwill</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-65</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_019">14.&#9;Intangible assets - Other intangible assets</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-66</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_020">15.&#9;Other assets</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-65</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_021">16.&#9;Deposits from credit institutions</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-67</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_022">17.&#9;Customer deposits</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-68</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_023">18.&#9;Liabilities arising from securities</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-68</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_024">19.&#9;Debt Instruments Eligible as Capital</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-70</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_025">20.&#9;Other financial liabilities</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-70</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_026">21.&#9;Obligations for pension and similar liabilities</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-71</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_027">22.&#9;Provisions for judicial and administrative proceedings, commitments and other provisions</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-74</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_028">23.&#9;Tax assets and liabilities</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-79</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_029">24.&#9;Other liabilities</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-82</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_030">25.&#9;Other Comprehensive Income</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-82</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_031">26.&#9;Non-controlling interests</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-83</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_032">27.&#9;Shareholders&#8217; equity</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-84</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_033">28.&#9;Earnings per share</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-87</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_034">29.&#9;Fair value of financial assets and liabilities</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-87</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_055">30.&#9;Operational Ratios</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-91</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_035">31.&#9;Interest and similar income</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-92</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_036">32.&#9;Interest and similar expenses</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-92</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_037">33.&#9;Equity instrument income</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-92</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_038">34.&#9;Fee and commission income</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-92</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_039">35.&#9;Fee and commission expenses</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-93</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_040">36.&#9;Gains (losses) on financial assets and liabilities (net)</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-93</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_041">37.&#9;Foreign exchange fluctuations (net)</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-94</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_042">38.&#9;Other Operating Expenses (Net)</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-94</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_043">39.&#9;Personnel expenses</A> </FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-94</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_044">40.&#9;Other Administrative Expenses</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-98</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_045">41.&#9;Gains (losses) on disposal of assets not classified as non-current assets held for sale</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-98</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_046">42.&#9;Gains (losses) on disposal and expenses on non-current assets held for sale not classified as discontinued operations</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-99</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_047">43.&#9;Other disclosures</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-99</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_048">44.&#9;Business segment reporting</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-102</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_049">45.&#9;Related party transactions</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-103</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_050">46.&#9;Risk management</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-107</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_051">47.&#9;Subsequent Events</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-126</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_052">APPENDIX I &#8211; RECONCILIATION OF SHAREHOLDERS&#8217; EQUITY AND NET INCOME</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-127</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt"><A HREF="#fp_053">APPENDIX II &#8211; STATEMENT OF VALUE ADDED</A></FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-130</FONT></TD></TR>
    <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><A HREF="#fp_054"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Performance Report</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></A></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-131</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><A HREF="#fp_056"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Composition of Management Bodies of December 31, 2024</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></A></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-135</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><A HREF="#fp_058"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Directors&rsquo; statement on the Financial Statements</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></A></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-137</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><A HREF="#fp_059"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Directors&rsquo; statement on the Independent Auditors</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></A></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-138</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><A HREF="#fp_060"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Audit Committee Report</FONT><FONT STYLE="font-size: 7pt">&#9;</FONT></A></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">F-139</FONT></TD></TR>


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<!-- Field: Page; Sequence: 3 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&#160;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">(A free translation of the original in Portuguese)</P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 15pt/122% Georgia, Times, Serif; margin: 0; color: red"><B><I>Independent auditor's report</I></B></P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">To the Board of Directors and Stockholders</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">Banco Santander (Brasil) S.A.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%; border-bottom: #EE1934 1pt dotted; font: 12pt/112% Times New Roman, Times, Serif; padding: 2.15pt 2.75pt 1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 112%"><B>Opinion</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">We have audited the accompanying consolidated financial statements of Banco
Santander (Brasil)&nbsp;S.A. (&quot;Bank&quot;) and its subsidiaries, which comprise the consolidated balance sheet as at December 31,
2024 and the consolidated statements of income, comprehensive income, changes in stockholders' equity and cash flows for the year then
ended, and notes to the financial statements, including material accounting policies and other explanatory information.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the financial position of the Bank and its subsidiaries as at December 31, 2024, and their financial
performance and their cash flows for the year then ended, in accordance with the International Financial Reporting Standards (IFRS) as
issued by the International Accounting Standards Board (IASB) (currently described as &ldquo;IFRS Accounting Standards&rdquo; by the IFRS
Foundation).</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%; border-bottom: #EE1934 1pt dotted; font: 12pt/112% Times New Roman, Times, Serif; padding: 2.15pt 2.75pt 1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 112%"><B>Basis for opinion</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">We conducted our audit in accordance with Brazilian and International Standards
on Auditing. Our responsibilities under those standards are described in the Auditor's Responsibilities for the Audit of the Financial
Statements section of our report. We are independent of the Bank and its subsidiaries in accordance with the ethical requirements established
in the Code of Professional Ethics and Professional Standards issued by the Brazilian Federal Accounting Council, and we have fulfilled
our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%; border-bottom: #EE1934 1pt dotted; font: 12pt/112% Times New Roman, Times, Serif; padding: 2.15pt 2.75pt 1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 112%"><B>Key Audit Matters</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Georgia, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 80%"><P STYLE="font: 10pt/112% Georgia, Times, Serif; text-align: justify; margin-top: 0; margin-right: 0; margin-bottom: 0">Key Audit
Matters are those matters that, in our professional judgment, were of most significance in our audit of the financial
statements of the current year. These matters were addressed in the context of our audit of the consolidated financial
statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.</P>
</TD>
  <TD STYLE="text-align: right; width: 20%"><IMG SRC="image_001.jpg" ALT=""></TD></TR>
</TABLE>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt/125% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: right">&nbsp;</P>

<P STYLE="font: 9pt/10.8pt Georgia, Times, Serif; margin: 0">PricewaterhouseCoopers Auditores Independentes Ltda., Avenida Brigadeiro
Faria Lima, 3732, Edif&iacute;cio B32, 16<U><SUP>o</SUP></U>,</P>

<P STYLE="font: 9pt/10.8pt Georgia, Times, Serif; margin: 0">S&atilde;o Paulo, SP, Brasil, 04538-132</P>

<P STYLE="font: 9pt/120% Georgia, Times, Serif; margin: 0">T: +55 (11) 4004-8000, www.pwc.com.br</P>

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<P STYLE="font: 12pt/122% Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;<IMG SRC="fpages_002.jpg" ALT=""></P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">(A free translation of the original in Portuguese)</P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 52%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 1.65pt 0.2pt 1pt; background-color: white; line-height: 117%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 117%"><B>Why it is a Key Audit Matter</B></FONT></TD>
    <TD STYLE="width: 48%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding: 1.65pt 0.2pt 1pt; background-color: white; line-height: 117%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 117%"><B>How the matter was addressed in the audit</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 1.65pt 0.2pt 1pt; background-color: white; line-height: 117%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 117%"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding: 1.65pt 0.2pt 1pt; background-color: white; line-height: 117%">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 2.15pt 0.2pt 1pt; background-color: white; line-height: 117%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 117%"><B>Estimate impairment of credit operations (Notes&nbsp;1(c.3.1(ii)), 2(h), 9 and 46(b))</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding: 2.15pt 0.2pt 1pt; background-color: white; line-height: 117%">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 2.15pt 0.2pt 1pt; background-color: white; line-height: 117%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; line-height: 117%">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 2.15pt 0.2pt 1pt; background-color: white; line-height: 117%">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; background-color: white; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 2.15pt 0.2pt 0">The estimate impairment of credit operations, considering the
    requirements of IFRS&nbsp;9 - Financial Instruments, involves a high level of judgment made by Management. The determination of the estimate
    impairment of credit operations considers, among other elements, the existence of one or more events that negatively impact the future
    cash flows and, consequently, the recoverable amount of significant credits, both individually and collectively for assets that are not
    significant, as well as the deterioration of credit risk and the classification of credits in the stages prescribed by IFRS 9.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt">This process involves the use of several assumptions and internal and
    external factors, including credit quality, portfolio size, concentration and economic factors.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt 1pt">Therefore, this remains an area of focus in our&nbsp;audit.</P></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; background-color: white; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 2.15pt 0.2pt 0">We updated our understanding and tested the relevant internal
    controls in the calculation and recognition of the expected credit losses, mainly including the following main processes: (i)&nbsp;models
    and assumptions adopted by Management to determine the recoverable value of the credits; (ii)&nbsp;measurement of the guarantees in the
    determination of the recoverable value; (iii)&nbsp;approval and accounting of the operations renegotiated; (iv) processing and accounting
    of the expected credit losses; (v) reconciliation of the accounting balances with the analytical position; (vi)&nbsp;preparation of the
    explanatory notes.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt">For the loss estimate calculated considering the individual evaluation,
    we assessed and tested, on a sample basis, the criteria used to determine the recoverable value based on the credit risk.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt">For the loss estimate calculated considering the collective assessment,
    we tested the process of approval and validation of models applied in the determination of the recoverable value of credit. With the support
    of our specialists, we tested, on a sampling basis, the aforementioned models, considering the parameters developed for the most significant
    portfolios, as well as the integrity of the database used for the calculations.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt">We also tested the classification of the credits as established in IFRS
    9. The classification considers the debtor's credit risk level, and when applicable, the deterioration of this risk, as well as the financial
    difficulty of the debtor, delays in their contractual obligations, renegotiations, guarantees, cash flow projections, among other aspects.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt 1pt">We considered that the criteria and assumptions that Management
    adopted to determine and account estimate impairment of credit operations based on IFRS 9 are consistent with the information examined
    in our&nbsp;audit.</P></TD>
    </TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt/122% Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="fpages_002.jpg" ALT=""></P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">(A free translation of the original in Portuguese)</P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.65pt 0.2pt 1pt; background-color: white; line-height: 117%; width: 52%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 117%"><B>Why it is a Key Audit Matter</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.65pt 0.2pt 1pt; background-color: white; line-height: 117%; width: 48%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 117%"><B>How the matter was addressed in the audit</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 1.65pt 0.2pt 1pt; line-height: 117%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 117%"><B>Provisions for legal and administrative proceedings (Notes 1(c.3.1(iv)), 2(q) and&nbsp;22)</B></FONT></TD>
    <TD STYLE="padding: 1.65pt 0.2pt 1pt; line-height: 117%">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 2.15pt 0.2pt 0">The Bank and its subsidiaries are parties to legal and administrative
    tax, labor, and civil proceedings arising from the normal course of their activities.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt">In general, these proceedings are terminated after a long period and
    involve not only discussions on merits, but also complex procedural aspects, in accordance with applicable legislation.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt 1pt">The decision to recognize a liability and the measurement basis
    requires the exercise of judgment made by Management, which is periodically reassessed, including when preparing the consolidated financial
    statements, and considering new events. In these circumstances, this remains an area of focus in our audit.</P></TD>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 2.15pt 0.2pt 0">We updated our understanding and tested the relevant internal
    controls over the identification and recording of provisions for legal and administrative proceedings, of tax, labor and civil nature,
    and the disclosures in accompanying notes, including, among others, the internal controls related to the calculation model used to account
    for the provisions for labor and civil judicial and administrative proceedings that are carried out under the historical average loss
    criteria for actions that are considered as common and similar in nature.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt">We tested the application of the mathematical models of historical average
    loss calculation, when applicable, related to labor and civil judicial and administrative proceedings. We also tested the ongoing proceedings
    at the base date of the consolidated financial statements.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt">We carried out confirmation procedures with the law firms that sponsor
    the judicial and administrative proceedings to confirm the existence of the proceedings and their information. Additionally, we assessed
    the reasonableness of the prognosis of the proceedings assigned by Management.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt 1pt">We consider that the criteria and assumptions that Management adopted
    to determine and record the provisions for legal and administrative proceedings are consistent with the information examined in our audit.</P></TD>
    </TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt/122% Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="fpages_002.jpg" ALT=""></P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">(A free translation of the original in Portuguese)</P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.65pt 0.2pt 1pt; background-color: white; line-height: 117%; width: 52%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 117%"><B>Why it is a Key Audit Matter</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 1.65pt 0.2pt 1pt; background-color: white; line-height: 117%; width: 48%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 117%"><B>How the matter was addressed in the audit</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 1.65pt 0.2pt 1pt; background-color: white; line-height: 117%"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 117%"><B>Information Technology environment (Note&nbsp;46(d))</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: white">&nbsp;</TD>
    </TR>
  <TR>
    <TD STYLE="vertical-align: top; background-color: white; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 2.15pt 0.2pt 0">The Bank and its subsidiaries have a business environment that
    is highly dependent on technology, requiring a complex infrastructure to support the high volume of transactions processed in its several
    systems on a daily basis.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt">The risks inherent to Information Technology, associated with possible
    deficiencies in processes and controls that support the processing of the technology systems, considering the legacy systems and existing
    technology environments, could result in the incorrect processing of critical information, including those used in the preparation of
    the consolidated financial statements.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt 1pt">For this reason, this remains an area of focus in our&nbsp;audit.</P></TD>
    <TD STYLE="vertical-align: top; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 2.15pt 0.2pt 0">With the assistance of our system specialists, we updated our
    evaluation of the design and tested the&nbsp;operating effectiveness of the controls related&nbsp;to&nbsp;the management of the Information
    Technology&nbsp;environment, including the compensating controls established, when&nbsp;applicable.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt">The procedures carried out involved the combination of the control tests,
    and, when applicable, the testing of compensating controls, as well as the testing of the key processes related to information security,
    development and maintenance of systems, and operation of computers related to the infrastructure that supports the Bank and its subsidiaries'
    business.</P>
    <P STYLE="font: 10pt/117% Calibri, Helvetica, Sans-Serif; margin: 0 0.2pt">&nbsp;</P>
    <P STYLE="font: 10pt/117% Georgia, Times, Serif; margin: 0 0.2pt 1pt">As a result of this work, we considered that the technology environment
    processes and controls provided a reasonable basis to determine the nature, timing and extent of our audit procedures in&nbsp;relation
    to the consolidated financial statements.</P></TD>
    </TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: #EE1934 1pt dotted; font: 12pt/112% Times New Roman, Times, Serif; padding: 2.15pt 2.75pt 1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 112%"><B>Other matters </B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 5pt 0 0"><B>Reconciliation of stockholders' </B></P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0"><B>equity and net income</B></P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">The reconciliation of stockholders' equity as of December 31, 2024 and net
income attributed to the Bank for the year then ended, between accounting practices adopted in Brazil applicable to institutions authorized
to operate by the Brazilian Central Bank (Bacen Gaap) and IFRS presented in Appendix I, as of December 31, 2024, prepared under the responsibility
of the Bank's management and presented as supplementary information for IFRS Accounting Standards purposes, was submitted to audit procedures
performed in conjunction with the audit of the Bank's consolidated financial statements. For&nbsp;the purpose of forming our opinion,
we evaluated whether this Appendix I is reconciled with the financial statements and accounting records, as applicable, as well as performed
procedures to test the completeness and accuracy of the information presented in the supplemental information. In our opinion,&nbsp;the
reconciliation of stockholders' equity and net income has been properly&nbsp;prepared in all material respects, and is consistent with
the consolidated financial statements&nbsp;taken as a whole.</P>

<P STYLE="font: 10pt Georgia,serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Georgia,serif; margin: 0"></P>

<P STYLE="font: bold 13pt Georgia, Times, Serif; margin: 0; text-align: left"></P>

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<P STYLE="font: 12pt/122% Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="fpages_002.jpg" ALT=""></P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">(A free translation of the original in Portuguese)</P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0"><B>Statements of Value Added</B></P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0 0 0 0.5pt; text-indent: -0.5pt">The consolidated Statement of Value Added for
the year ended December 31, 2024, prepared under the responsibility of the Bank's management and presented in Appendix II as supplementary
information for IFRS Accounting Standards purposes, was submitted to audit procedures performed in conjunction with the audit of the Bank's
consolidated financial statements. For the purposes of forming our opinion, we evaluated whether this Appendix II is reconciled with the
financial statements and accounting records, as applicable, and if its form and content are in accordance with the criteria defined in
Technical Pronouncement CPC 09 - &quot;Statement of Value Added&quot;. In our opinion, this Statement of Value Added has been properly
prepared in all material respects, in accordance with the criteria established in the Technical Pronouncement, and is consistent with
the consolidated financial statements taken as a whole.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: #EE1934 1pt dotted; font: 12pt/112% Times New Roman, Times, Serif; padding: 2.15pt 2.75pt 1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 112%"><B>Other information accompanying the consolidated financial statements and the auditor's&nbsp;report</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 5pt 0 0">The Bank's management is responsible for the other information that
comprises the Management&nbsp;Report.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">Our opinion on the consolidated financial statements does not cover the Management
Report, and we do not express any form of audit conclusion thereon.</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">In connection with the audit of the consolidated financial statements, our
responsibility is to read the Management Report and, in doing so, consider whether this report is materially inconsistent with the financial
statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed,
we conclude that there is a material misstatement in the Management Report, we are required to report that fact. We have nothing to report
in this&nbsp;regard.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: #EE1934 1pt dotted; font: 12pt/112% Times New Roman, Times, Serif; padding: 2.15pt 2.75pt 1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 112%"><B>Responsibilities of management and those charged with governance for the consolidated financial statements</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 5pt 0 0">Management is responsible for the preparation and fair presentation
of the consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS) as issued by the International
Accounting Standards Board (IASB) (currently described as &ldquo;IFRS Accounting Standards&rdquo; by the IFRS Foundation), and for such
internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or&nbsp;error.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">In preparing the consolidated financial statements, Management is responsible
for assessing the ability of the Bank and its subsidiaries, as a whole, to continue as a going concern, disclosing, as applicable, matters
related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Bank and its
subsidiaries, as a whole, or to cease operations, or has no realistic alternative but to do so.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">Those charged with governance are responsible for overseeing the Bank&rsquo;s
financial reporting process.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%; border-bottom: #EE1934 1pt dotted; font: 12pt/112% Times New Roman, Times, Serif; padding: 2.15pt 2.75pt 1pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934; line-height: 112%"><B>Auditor's responsibilities for the audit of the consolidated financial statements</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">Our objectives are to obtain reasonable assurance about whether the consolidated
financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with Brazilian and International Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the&nbsp;economic
decisions of users taken on the basis of these financial statements.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">As part of an audit in accordance with Brazilian and International Standards
on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:</P>

<P STYLE="font: 10pt/97% Georgia, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">(A free translation of the original in Portuguese)</P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/112% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934">&bull;</FONT></TD><TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">Identify and assess the risks of material misstatement of the consolidated
financial statements, whether&nbsp;due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations,
or the override of internal control.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/112% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934">&bull;</FONT></TD><TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">Obtain an understanding of internal control relevant to the audit
in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the internal control of the Bank and its subsidiaries.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/112% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934">&bull;</FONT></TD><TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">Evaluate the appropriateness of accounting policies used and the
reasonableness of accounting estimates and related disclosures made by management.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/112% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934">&bull;</FONT></TD><TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">Conclude on the appropriateness of management's use of the going
concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions
that may cast significant doubt on the ability of the Bank and its subsidiaries, as a whole, to continue as a going concern. If we conclude
that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated
financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor's report. However, future events or conditions may cause the Bank and its subsidiaries, as a whole, to cease
to continue as a going concern.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/112% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934">&bull;</FONT></TD><TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">Evaluate the overall presentation, structure and content of the
consolidated financial statements, including the disclosures, and whether these financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0; text-indent: 3.8pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/112% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt; color: #EE1934">&bull;</FONT></TD><TD><FONT STYLE="font-family: Georgia, Times, Serif; font-size: 10pt">Plan and perform the group audit to obtain sufficient appropriate
audit evidence regarding the financial information of the entities or business units within the Group as a basis for forming an opinion
on the consolidated financial statements. We are responsible for the direction, supervision and review of the audit work performed for
purposes of the group audit. We remain solely responsible for our audit opinion.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-indent: -14.2pt">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">We communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that
we identify during our audit.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/112% Georgia, Times, Serif; margin: 0">We also provide those charged with governance with a statement that we have
complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that
may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats to our independence or
safeguards applied.</P>

<P STYLE="font: 10pt/112% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0">From the matters communicated with those charged with governance, we determine
those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore
the Key Audit Matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the
matter or when, in extremely rare circumstances, we determine that&nbsp;a matter should not be communicated in our report because the
adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.</P>

<P STYLE="font: 10pt/120% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Georgia, Times, Serif; margin: 0">S&atilde;o Paulo, February 28, 2025</P>

<P STYLE="font: 10pt/120% Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0"><IMG SRC="image_002.jpg" ALT=""></P>

<P STYLE="font: 10pt/120% Georgia, Times, Serif; margin: 0"></P>

<P STYLE="font: 12pt/122% Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 9; Options: NewSection; Value: 8 -->
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    <TD>&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-top: red 1pt solid; width: 10%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>Note</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 10%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 10%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Cash </B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>4</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>37,084,254</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>23,122,550</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424"><B>Financial Assets Measured at Fair Value Through Profit or Loss</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>231,001,886</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>208,921,896</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">6</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">107,585,055</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">84,291,192</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Equity instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">7</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,968,823</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">3,422,154</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">8.a</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">40,175,818</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">29,269,652</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">9</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">4,911,803</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">3,040,712</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Compulsory deposits with the Brazilian Central Bank</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">75,360,387</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">88,898,186</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Financial Assets Measured At Fair Value Through Other Comprehensive Income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>92,078,540</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>59,052,090</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">6</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">92,058,907</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">59,036,137</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Equity instruments</FONT></TD>
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    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
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    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Non-Current Assets Held For Sale</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>914,072</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Investments in Associates and Joint Ventures</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,609,780</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Tax Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">9,393,766</FONT></TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Deferred</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">43,445,704</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Other Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>15</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>6,955,457</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>5,996,651</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Permanent Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>12</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>6,021,900</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>7,085,564</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Intangible Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>32,826,797</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>32,375,513</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Goodwill</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">27,892,878</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">27,852,568</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Other intangible assets</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Total Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,238,796,810</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,115,652,776</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">The notes are an integral part of these consolidated financial
statements.<BR>
</P>


<!-- Field: Page; Sequence: 10 -->
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 70%; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>Liabilities and Shareholders&#8217; Equity</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>Note</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>2024</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial Liabilities Measured At Fair Value Through Profit or Loss</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>82,722,610</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>49,581,441</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">8.a</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">39,280,448</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">23,763,857</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Short positions</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">8.b</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">39,396,666</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">19,831,991</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Liabilities arising from securities</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">18</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">4,045,496</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">5,985,593</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial Liabilities at Amortized Cost</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,001,581,240</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>910,550,506</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Credit institution deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">16</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">158,565,482</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">118,511,957</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Customer deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">17</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">605,068,163</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">583,220,576</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Liabilities arising from securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">18</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">135,632,632</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">124,397,422</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Debt instruments eligible as capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">19</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">23,137,784</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">19,626,967</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Other financial liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">20</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">79,177,179</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">64,793,584</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Derivatives Used as Hedge Accounting</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>8.a</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>129,826</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,176,571</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #DBDBDB 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Provisions</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>10,976,930</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>11,473,781</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">&#160;&#160;&#160;Obligations for pension funds and similar liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">22</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,364,437</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,543,504</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">&#160;&#160;&#160;Provisions for judicial and administrative proceedings, commitments, and other provisions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">22</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">9,612,493</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">8,930,277</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Tax Liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>10,175,193</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>8,999,893</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">&#160;&#160;&#160;Current</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">4,485,753</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">5,300,461</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">&#160;&#160;&#160;Deferred</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">23.d</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">5,689,440</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">3,699,432</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Other Liabilities&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>24</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>13,383,879</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>19,014,230</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Total Liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,118,969,678</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,000,796,422</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Shareholders&#8217; Equity</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>27</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>126,199,224</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>118,421,219</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">27.a</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #242424">Profit Reserve</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">61,453,920</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Other Comprehensive Income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>(3,968,215)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Shareholders&#8217; Equity Attributable to the Parent</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>119,491,685</B></FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Non - Controlling interests</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">26</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">335,447</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Total Shareholders&#8217; Equity</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,115,652,776</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">The accompanying Notes are an integral
part of these consolidated financial statements.</P>


<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B><FONT ID="fp_002"></FONT>Consolidated Statement of
Income</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 54%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #929292 1pt solid; width: 10%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>Note</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #929292 1pt solid; width: 10%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #929292 1pt solid; width: 13%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #929292 1pt solid; width: 13%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: red"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Interest and similar income</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">31</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">137,183,478</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">128,282,707</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">115,225,118</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Interest and similar expenses</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">32</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(80,504,918)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(81,398,673)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(67,721,941)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Net Interest Income</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>56,678,560</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>46,884,034</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>47,503,177</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Equity instrument income</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">33</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">83,647</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">22,179</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">38,073</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Equity method income (loss)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">11.a</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">312,986</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">239,236</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">199,179</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Fee and commission income</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">34</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">23,664,987</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">22,454,778</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">21,237,723</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Fee and commission expense</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">35</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(6,459,778)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(6,814,813)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(6,361,843)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Gains (losses) on financial assets and liabilities (net)</FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,358,674)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2,729,519</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">4,153,336</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Financial assets measured at fair value through profit or loss</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(641,147)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">3,440,830</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">4,801,086</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Financial instruments not measured at fair value through profit or loss</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(180,427)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(463,844)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(239,777)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(537,100)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(247,467)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(407,973)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Foreign exchange fluctuations (net)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">37</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,487,679</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,065,167</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">545,890</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other operating expense (net)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">38</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(652,121)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(715,790)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(841,002)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Total Income</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>73,757,286</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>65,864,310</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>66,474,533</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Administrative expenses</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(20,416,504)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(19,562,641)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(18,240,113)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Personnel expenses</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">39.a</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(11,597,996)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(10,813,926)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(9,896,995)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other administrative expenses</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">40.a</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(8,818,508)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(8,748,715)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(8,343,118)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(2,731,018)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(2,740,950)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(2,585,502)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Permanent assets</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">12.a</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,586,278)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,841,616)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,860,043)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Intangible assets</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">14</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,144,740)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(899,334)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(725,459)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Provisions (net)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">22</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(4,595,238)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(4,424,412)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,215,490)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Impairment losses on financial assets (net)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">9.c</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(28,484,030)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(28,008,086)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(24,828,749)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Financial assets measured at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(28,484,030)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(28,008,086)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(24,828,749)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Impairment losses on other assets (net)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(252,487)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(250,173)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(161,434)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other intangible assets</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">14</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(48,897)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(19,473)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(31,251)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other assets</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(203,590)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(230,700)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(130,183)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Gains (losses) on disposal of assets not classified as non-current assets held for sale</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">41</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,806,183</FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Gains (losses) on disposal and expenses on non-current assets held for sale not classified as discontinued operations</FONT></TD>
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<P STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">The accompanying Notes are an integral
part of these consolidated financial statements.</P>


<!-- Field: Page; Sequence: 12 -->
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<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B><FONT ID="fp_003"></FONT>Consolidated Statement of
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<TR>
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    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD></TR>
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    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
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    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Cash flow hedges</B></FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Fair value adjustment</FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Taxes</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD></TR>
  <TR>
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    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(648,164)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>28,701</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Defined Benefits Plan</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom">&#160;</TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(620,233)</B></FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Others&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom">&#160;</TD>
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  <TR>
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    <TD STYLE="border-bottom: rgb(146,146,146) 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(256,936)</FONT></TD>
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    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(18,529)</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD></TR>
  <TR>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #929292 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Total Comprehensive Income</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom">&#160;</TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Attributable to the parent company</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom">&#160;</TD>
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<P STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">The Notes are an integral part of these consolidated
financial statements.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><FONT ID="fp_004"></FONT><B>Consolidated Statement of
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="display: none; padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="display: none; padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-top: red 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD COLSPAN="12" STYLE="border-top: red 1pt solid; border-bottom: #EE2724 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: red"><B>Stockholders&#180;
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    <TD STYLE="border-bottom: #929292 1pt solid; width: 48%"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; width: 4%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: red"><B>Note</B></FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>55,000,000</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>371,941</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>54,387,672</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>(713,039)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>(47,576)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>(2,924,221)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>859,370</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B STYLE="display: none">-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B STYLE="display: none">-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>(1,294,001)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>105,640,146</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>334,349</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>105,974,495</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>Total
    comprehensive income</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>14,287,093</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>(707,433)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>28,701</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B STYLE="display: none">-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B STYLE="display: none">-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>(401,282)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>13,207,079</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>52,382</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>13,259,461</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Net
    Profit Attributable to the Parent Company</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">14,287,093</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">14,287,093</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">52,382</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">14,339,475</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Other
    Comprehensive Income</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(707,433)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">28,701</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(401,282)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(1,080,014)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(1,080,014)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Financial
    assets measured at fair value through Other Comprehensive Income</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(707,433)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(707,433)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(707,433)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Employee
    Benefits Plan</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">28,701</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">28,701</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">28,701</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Gain
    and loss - Cash flow and investment hedge</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(401,282)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(401,282)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(401,282)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Dividends
    and interest on equity from the previous fiscal year</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">27.b</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(8,100,000)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(8,100,000)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(8,100,000)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Treasury
    shares</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">27.d</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(506,277)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(506,277)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(506,277)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Share-based
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">73,837</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">73,837</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">73,837</FONT></TD></TR>
  <TR>
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(131,951)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(131,951)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">110,611</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(21,340)</FONT></TD></TR>
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    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none"><FONT STYLE="display: none; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none"><FONT STYLE="display: none; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; line-height: 120%">&#160;&#160;&#160;&#160;&#160;Legal
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">714,355</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(714,355)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; line-height: 120%">&#160;&#160;&#160;&#160;&#160;Dividend
    equalization reserve</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">5,472,738</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(5,472,738)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; display: none; padding-right: 0.75pt; text-align: right"><FONT STYLE="display: none; font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
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<!-- Field: Page; Sequence: 14 -->
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 18%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 18%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #EE2724 1pt solid; width: 64%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 6.5pt; color: red"><B>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Stockholders&#180; Equity Attributable to the Parent&#160;</B></FONT></TD>
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    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="text-align: center; padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="text-align: center; padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="text-align: center; padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="text-align: center; padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="text-align: center; padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="text-align: center; padding-right: 2.65pt">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #929292 1pt solid; width: 4%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: red"><B>Note</B></FONT></TD>
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    on December 31, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>55,000,000</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>445,778</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>60,442,814</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>(1,219,316)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>(755,009)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>(2,895,520)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>859,370</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>(1,695,283)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>110,182,834</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>497,342</B></FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>Total
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    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">9,449,313</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">9,449,313</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">49,499</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">9,498,812</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Other
    comprehensive income</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">537,438</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(620,233)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(27,931)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">628,953</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">518,227</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">518,227</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Financial
    assets measured at fair value through other comprehensive income</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">537,438</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">537,438</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">537,438</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Employee
    Benefits Plan</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(620,233)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(620,233)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(620,233)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Pension Contracts -
    IFRS 17&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(27,931)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(27,931)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(27,931)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Gain
    and loss - Cash flow and investment hedge</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">628,953</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">628,953</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">628,953</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Dividends
    and interest on capital</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">27.b</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(6,200,000)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(6,200,000)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(6,200,000)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Share-based
    compensation&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">39.b</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">161,899</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">161,899</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">161,899</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Treasury
    shares</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">27.d</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">112,533</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">112,533</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">112,533</FONT></TD></TR>
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Prescribed
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">56,858</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">56,858</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">56,858</FONT></TD></TR>
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">171,340</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">171,340</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">171,340</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">Other</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(143,491)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(143,491)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #929292 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>Destinations:</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">&#160;&#160;&#160;&#160;&#160;Legal
    reserve</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">472,466</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(472,466)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">&#160;&#160;&#160;&#160;&#160;Dividend
    equalization reserve</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">2,776,847</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">(2,776,847)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: #292929"><B>Balance
    on December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>55,000,000</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>607,677</B></FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>-</B></FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: black"><B>114,856,354</B></FONT></TD></TR>
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<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0">&#160;</P>

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  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="text-align: center; padding-right: 2.65pt"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 2.65pt"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 2.65pt"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; text-align: center"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; text-align: center"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; text-align: center"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; text-align: center"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; text-align: center"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; text-align: center"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; text-align: center"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 2.65pt"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="text-align: center; padding-right: 2.65pt"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD></TR>
<TR>
    <TD STYLE="border-top: red 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-top: red 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-top: red 1pt solid; border-bottom: #EE2724 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: red"><B>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Stockholders&#180;
    Equity Attributable to the Parent&#160;</B></FONT></TD></TR>
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    <TD STYLE="border-bottom: #929292 1pt solid; width: 40%"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; width: 4%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: red"><B>Note</B></FONT></TD>
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                                            </B></FONT></P>
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                                            </B></FONT></P>
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    <TD STYLE="border-bottom: rgb(146,146,146) 1pt solid; width: 4%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: red"><B>Retained
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    adjustments investment abroad</B></FONT></TD>
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    Equity Valuation Adjustments</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(146,146,146) 1pt solid; width: 4%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: red"><B>Gains
    and losses - Cash flow hedge and Investment</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(146,146,146) 1pt solid; width: 4%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: red"><B>Total</B></FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: #292929"><B>Balance
    on December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>55,000,000</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>607,677</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>63,920,325</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>(1,106,783)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>(217,571)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>(3,515,753)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>859,370</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>(27,931)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>(1,066,330)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>114,453,004</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>403,350</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>114,856,354</B></FONT></TD></TR>
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>13,365,506</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>(2,164,544)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>(502,235)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>16,640</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>(275,465)</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>186,280</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>10,626,182</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>48,257</B></FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black"><B>10,674,439</B></FONT></TD></TR>
  <TR>
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    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">13,365,506</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">13,365,506</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">48,257</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">13,413,763</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Other
    comprehensive income</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(2,164,544)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(502,235)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">16,640</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(275,465)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">186,280</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(2,739,324)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(2,739,324)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Financial
    assets measured at fair value through other comprehensive income</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(2,164,544)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(2,164,544)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(2,164,544)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Employee
    Benefits Plan (1)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(502,235)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(502,235)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(502,235)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Pension
    Contracts - IFRS 17&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">16,640</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">16,640</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">16,640</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Gain
    and loss - Cash flow and investment hedge</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">186,280</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">186,280</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">186,280</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Other
    Equity Valuation Adjustments &#8211; goodwill on acquisitions of subsidiaries</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(256,936)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(256,936)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(256,936)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 8.1pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Other
    Equity Valuation Adjustments &#8211; Other</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(18,529)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(18,529)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(18,529)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Dividends
    and interest on capital</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">27.b</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(6,000,000)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(6,000,000)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(6,000,000)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Share-based
    compensation&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">22,334</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">22,334</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">22,334</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Treasury
    shares</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">27.d</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">222,076</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">222,076</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">222,076</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Prescribed
    dividends</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">57,513</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">57,513</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">57,513</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Unrealized
    profit</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">19,213</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">49,175</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">68,388</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">68,388</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Capital
    increase</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">10,000,000</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(10,000,000)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Other</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">42,188</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">42,188</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(116,160)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(73,972)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.85pt"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">Sale
    / Merger / Acquisition</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid"><FONT STYLE="font-family: calibri; font-size: 7pt">&#160;</FONT></TD></TR>
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    <TD STYLE="border-bottom: #929292 1pt solid; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt">-</FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
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    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">(6,746,406)</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #929292 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: calibri; font-size: 7pt; color: black">-</FONT></TD>
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</TABLE>

<P STYLE="margin: 0">&#160;&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/130% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: #292929"><B>(1)</B></FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt; color: #292929"><B>Includes
the effects of the obligation created as a result of the transaction signed between Banco Santander, BANESPREV, AFABESP and legal advisors
on June 27, 2024. See details in note 18, item d.2.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 7pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 7pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The accompanying Notes are an integral
part of these consolidated financial statements.</P>


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<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: #EE2724"><B><FONT ID="fp_005"></FONT>Consolidated Statement
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
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    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Consolidated Net Income for the Fiscal Year</B></FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Amortization&#160;of Intangible Assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">14</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,144,740</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">899,334</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">725,459</FONT></TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Impairment Losses on Other Assets (Net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">252,487</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">250,173</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">161,434</FONT></TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">4,595,238</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">4,424,412</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,215,490</FONT></TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">28,484,030</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">28,008,086</FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Net gains on disposal of permanent assets, investments, and non-current assets held for sale</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,912,219)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(855,565)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(130,673)</FONT></TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Income (Loss) Share under the Equity Method</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">11.a</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(312,986)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(239,236)</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(885,976)</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Recoverable Taxes Adjustment&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(376,938)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(557,008)</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(30,769,354)</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(57,153)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(90,597)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">226,611</FONT></TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(187,674,524)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(129,083,634)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(90,965,616)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Financial Assets Measured at Fair Value through Profit or Loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(20,980,632)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(88,026,729)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(86,362,989)</FONT></TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Financial Assets Measured at Fair Value Through Other Comprehensive Income&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(38,961,379)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(3,895,444)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">45,756,767</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Financial Assets Measured at Amortized Cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(124,915,673)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(41,870,299)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(46,336,754)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(2,816,840)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">4,708,838</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(4,022,640)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Net Increase (Decrease) in Operating Liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>157,494,648</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>156,121,109</B></FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Financial Liabilities Measured at Fair Value Through Profit or Loss&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">33,141,169</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(86,825)</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Financial Liabilities Measured at Amortized Cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">130,916,324</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(6,562,845)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">11,824,799</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">961,311</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Tax Paid</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>23.a</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(5,423,514)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(5,892,511)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(6,077,436)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Total Net Cash Flow from Operating Activities (1)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(21,131,267)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>36,614,788</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>6,847,026</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>2. Cash Flows From Investing Activities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Investments</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(3,435,838)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(3,963,094)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(3,804,400)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Subsidiary acquisition, minus net cash upon acquisition</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(114,206)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(5,054)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(460,245)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Tangible Assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">12.a</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(854,993)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,445,847)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,126,111)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Intangible Assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,754,988)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,906,872)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,737,548)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Non-current Assets Held for Sale</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(711,651)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(605,321)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(480,496)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Disposal</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>1,044,835</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>719,747</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>926,167</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Tangible Assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">12.a</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">333,413</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">117,312</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">148,555</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Intangible Assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">110,067</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">185,206</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">144,698</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Non-current Assets Held for Sale</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">601,355</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">417,229</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">632,914</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Dividends and Interest on Equity Received</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">375,236</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">663,032</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">172,944</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Total Net Cash Flow from Investing Activities (2)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(2,015,767)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(2,580,315)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(2,705,289)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>3. Cash Flows from Financing Activities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Acquisition (Disposal) of Own Shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">27.d</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">222,076</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">112,533</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(506,277)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Issuance
    (Repurchase) of Debt Instruments Eligible as Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">19</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">68,477</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Issuance of&#160;Other Long-term Financial Liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">18</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">39,541,342</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">75,404,958</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">60,583,109</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Dividends Paid and Interest on Equity</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(5,618,714)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(5,450,390)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(7,393,031)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Payments of Other Long-term Financial Liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">18</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(33,038,049)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(63,400,960)</FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Interest Payments on Debt Instruments Eligible as Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">19</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(132,243)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(713,974)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(861,717)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Increase (Decrease) in Non-controlling Interests</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">26.b</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(112,710)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(134,214)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">20,446</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Capital Increase in Subsidiaries Through Non-controlling Interests</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">26.b</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">66,957</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Total Net Cash Flow from Financing Activities (3)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>930,179</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>12,754,848</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Net Increase (Decrease) in Cash and Cash Equivalents (1+2+3)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(22,216,855)</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>16,896,585</B></FONT></TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>89,417,760</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>49,565,334</B></FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Cash and Cash Equivalents at the End of the Fiscal Year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>4</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>67,200,905</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>89,417,760</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>49,565,334</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">The accompanying Notes are an integral
part of these consolidated financial statements.&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>


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<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 19pt"><FONT ID="fp_006"></FONT></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Operating context, presentation
of consolidated financial statements and other information</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>a)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Operating context</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander (Brasil) S.A. (Banco
Santander or Bank), directly and indirectly controlled by Banco Santander, S.A., headquartered in Spain (Banco Santander Spain), is the
leading institution of the Financial and Prudential Conglomerates before the Brazilian Central Bank (Bacen), established as a joint-stock
company with its headquarters located at Avenida Presidente Juscelino Kubitschek, 2041 and 2235 - Block A - Vila Ol&#237;mpia - S&#227;o
Paulo - SP. Banco Santander operates as a universal bank and conducts its operations through commercial, investment, credit, financing
and investment, real estate credit, leasing, and foreign exchange portfolios. Additionally, through its subsidiaries, it also operates
in the markets of payment institutions, &#34;cons&#243;rcios&#34; management, securities and insurance brokerage, consumer lending,
digital platforms, benefits management, non-performing credit management and recovery, capitalization, private pensions, as well as provision
and management of food, meal, and other vouchers. These operations are conducted within a framework of institutions that do business in
an integrated manner in the financial market. The corresponding benefits and costs associated with the rendered services are distributed
among these entities and are realized in the ordinary course of business on a reciprocal basis.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Board of Directors authorized the issuance
of the Consolidated Financial Statements for the year ended December 31, 2024, at the meeting held on February 27, 2025.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The referenced Financial Statements have
been subject to a recommendation for approval issued by the Audit Committee of Banco Santander and received an unqualified opinion from
the Independent Auditors.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>b)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Basis for the presentation
of the consolidated financial statements (prepared in accordance with IAS 1)</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The consolidated financial statements have
been prepared in accordance with the International Financial Reporting Standards (IFRS&#174;) issued by the International Accounting Standards
Board (IASB&#174;) (currently referred to by the IFRS&#174; Foundation as &#8220;IFRS&#174; accounting standards&#8221;) and the interpretations
issued by the IFRS&#174; Interpretations Committee (current name of the International Financial Reporting Interpretations Committee &#8211;
IFRIC&#174;).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">All relevant information specifically related
to Banco Santander's financial statements, and only in relation to these, is being highlighted, and corresponds to the information used
by Banco Santander in its management.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Other information</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.1) Adoption of new standards and interpretations.</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&#160;&#160;</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Amendments to IAS 1 &#8211; Presentation of Financial
Statements:</B> &#8211; The amendments are intended to specify the requirements for classifying liabilities as current or non-current.
The amendments clarify what is meant by a right to defer settlement; that the right to defer must exist at the end of the reporting period;
that the classification is not affected by the likelihood that the entity will exercise its right to defer; and that only if a derivative
embedded in a convertible liability is itself an equity instrument, the terms of a liability will not affect its classification. The
amendments to IAS 1 were effective from January 1, 2024 and have not had a material impact.</FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#8226; <B>Amendment to IAS 7 &#8211;
Statement of Cash Flows and IFRS 7 &#8211; Financial Instruments: </B>Disclosure: requires entities to provide additional
disclosures about their supplier financing arrangements. The IASB issued these new requirements to provide users of financial
statements with information that enables them to assess how supplier financing arrangements affect an entity&#8217;s obligations and
cash flows, and to understand the effect of supplier financing arrangements on an entity&#8217;s exposure to liquidity risk and how
the entity might be affected if the arrangements were no longer available to it. The amendments to IAS 7 and IFRS 7 were effective
from January 1, 2024 and have not had a material impact.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; <B>Amendment to IFRS 16 &#8211;
Leases:</B> Clarifies the requirements that a seller-lessee uses in measuring the lease liability arising from a sale and leaseback transaction,
in order to ensure that the seller-lessee does not recognize any amount of gain or loss that relates to the right of use that it retains.
The amendments to IFRS 16 were effective from January 1, 2024 and did not have a material impact.&#160;</P>


<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.2) New standards and interpretations
in force in future years</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Amendment to IAS 21 - Effects
of exchange rate changes and translation of Financial Statements</B>: In instances where a currency is non-convertible, it can be difficult
to ascertain an appropriate exchange rate. While uncommon, non-convertibility may arise when a government enforces currency controls that
forbid currency exchange or restrict the amount of foreign currency transactions. The amendment to IAS 21 provides guidance on how entities
should assess whether a currency is readily convertible and how to determine a spot exchange rate for currencies with limited exchangeability,
as well as requires the disclosure of information that enables Financial Statement users to understand the impacts of a non-convertible
currency. These changes are effective as of January 1, 2025. Santander does not foresee any material impacts.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Amendments to IFRS 9 and
IFRS 7 - Amendments to the Classification and Measurement of Financial Instruments:</B> The requirements for applying IFRS 9 are amended to include contracts to
purchase and receive electricity, in addition to allowing the use of these contracts in hedge accounting. It also includes disclosure
requirements on these contracts in IFRS 7. In addition, it clarifies that a financial liability is derecognized on the &#34;settlement
date&#34; and introduces an accounting policy election to derecognize financial liabilities settled using an electronic payment system
before the settlement date. Other clarifications include the classification of financial assets with ESG-linked characteristics through
additional guidance on the assessment of contingent characteristics. Additional disclosures are introduced for financial instruments with
contingent characteristics and equity instruments classified at fair value through other comprehensive income. The amendments are effective
for reporting periods beginning on or after January 1, 2026. Santander is assessing the impacts of this change.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Annual Improvements to IFRS
Accounting Standards - Volume 11:</B> Includes clarifications, simplifications, corrections and amendments designed to improve the consistency
of several IFRS Accounting Standards. The amended standards are: IFRS 1 - First-time adoption of International Financial Reporting Standards;
IFRS 7 - Financial Instruments: Disclosures and accompanying guidance on the implementation of IFRS 7; IFRS 9 - Financial Instruments;
IFRS 10 - Consolidated Financial Statements; and IAS 7 - Statement of Cash Flows. The amendments are effective for annual periods beginning
on or after January 1, 2026, with earlier application permitted. Santander is assessing the impacts of this change.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>IFRS 18 &#8211; Presentation
and Disclosure in Financial Statements: </B> Replaces IAS 1 &#8211; Presentation of Financial Statements. IFRS 18 introduces new subtotals
and three categories for income and expenses (operating, investing and financing) in the income statement structure. It also requires
companies to disclose explanations of management-defined performance measures related to the income statement.</FONT></TD></TR><TR STYLE="vertical-align: top">
<TD>&#160;</TD><TD>&#160;</TD><TD STYLE="text-align: justify"><P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0pt; text-align: justify">These changes are effective for fiscal
years beginning January 1, 2027. Santander is evaluating the impacts of this change.</P></TD></TR>
                                                                                                                               </TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>IFRS 19 &#8211; Non-publicly-accountable
subsidiaries: Disclosures:</B> that allows a subsidiary to provide reduced disclosures when applying IFRS Accounting Standards in its
financial statements. IFRS 19 is optional for eligible subsidiaries and establishes the disclosure requirements for subsidiaries that
choose to apply it. The new standard is effective for reporting periods beginning on or after January 1, 2027, with earlier application
permitted. Santander is assessing the impacts of this change.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.3) Estimates used</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The consolidated results and the determination
of the consolidated equity are impacted by accounting policies, assumptions, estimates, and measurement methods used by the Bank's management
in the preparation of the financial statements. The Bank makes estimates and assumptions that affect the reported values of assets and
liabilities for future periods. All required estimates and assumptions, in accordance with IFRSs, represent management's best estimate
pursuant to the applicable standard.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In the consolidated financial statements,
estimates are made by the Bank&#8217;s and the consolidated entities&#8217; Management to quantify certain assets, liabilities, income,
and expenses, as well as to disclose notes to the financial statements.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.3.1) Estimated credit losses</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The estimates and critical assumptions
that present the most significant impact on the accounting balances of certain assets, liabilities, income, and expenses, as well as on
note disclosures, are described below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>i.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Assessment of the fair value
of certain financial instruments</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial instruments are initially recognized
at fair value, and those not measured at fair value through profit or loss are adjusted for transaction costs.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial assets and liabilities are subsequently
measured at the end of each period using valuation techniques. This calculation is predicated on assumptions that take into account Management&#8217;s
judgment based on information and prevailing market conditions on the balance sheet date.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander classifies fair value measurements
using the fair value hierarchy that reflects the model employed in the measurement process, segregating financial instruments into Tiers
I, II, or III.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Notes 2.e and 46.c.8</B> detail the
accounting treatment and sensitivity analysis pertaining to Financial Instruments, respectively.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>ii.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Provisions for losses on
credits due to impairment </B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The carrying value of non-recoverable financial
assets is adjusted by recording a provision for loss under &#8220;Losses on financial assets (Net) &#8211; Financial Assets Measured at
Amortized Cost&#8221; in the consolidated income statement. Reversals of previously recognized losses are recorded in the consolidated
income statement in the period when the impairment decreases, provided there is an objectively verifiable recovery event.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">When measuring the impairment loss on individually
assessed loans, the Bank takes into account a range of factors related to the counterparty's condition, such as their economic and financial
situation, indebtedness level, income-generating capacity, cash flow, management, corporate governance, and quality of internal controls,
payment history, industry experience, contingencies, and credit limits, as well as asset characteristics, such as their nature and purpose,
type, liquidity level sufficiency, and guarantees of total credit value, and also drawing on historical impairment experience and other
circumstances known at the time of assessment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To measure the impairment loss on loans
assessed collectively for impairment, the Bank segregates financial assets into groups considering their credit risk characteristics and
similarities, that is, according to the segment, type of assets, collateral, and other factors associated with historical impairment experience
and other circumstances known at the time of assessment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Notes 2.h and 46.b.2</B> detail
the accounting treatment and credit risk assessment methods, respectively.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>iii.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Provisions for pension funds</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Defined benefit plans are recorded following
an actuarial analysis, performed annually by a specialized firm at the end of each fiscal year with applicability for the subsequent period,
and are recognized in the consolidated statement of income under the lines of Interest and Similar Expenses and Provisions (net).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The present value of the defined benefit
liability is the current value before deducting any plan assets, of the anticipated future payments required to settle the liability arising
from the employee&#8217;s service in current and past periods.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Additional details are provided in <B>note
2.w</B>.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>iv.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Provisions, contingent assets
and liabilities</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Provisions for legal and administrative
proceedings are set up when the risk of loss in the legal or administrative action is assessed as probable and the amounts involved can
be measured with sufficient certainty, based on their nature.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Explanatory note <B>2.q</B> presents information
and any significant changes to the provisions and contingent assets and liabilities of the Bank between December 31, 2024 and December
31, 2023.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>v.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Goodwill</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The goodwill recognized must undergo an
impairment test at least once a year or over a shorter period, should there be any indication of impairment of the asset.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The basis used for the impairment test
is the value in use, and accordingly, cash flows are projected for a period of x years. The cash flow projection takes into account several
factors, including: (i) macroeconomic forecasts for interest rates, inflation, exchange rates, and others; (ii) behavior and growth estimates
for Brazil's national financial system; (iii) increased costs, returns, synergies, and investment plan; (iv) customer behavior; and (v)
growth rate and adjustments applied to the cash flows in perpetuity. The adoption of these estimates involves the likelihood of future
events occurring, and changes in any of these factors could lead to different results. The cash flow estimate is based on an assessment
prepared by an independent specialized company, annually or whenever there are indications of impairment, which is reviewed and approved
by Management.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Further details can be found in <B>note
13</B>.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>vi.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Expectation of tax credit
realization IR and CS</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Deferred tax assets and liabilities include
temporary differences, identified as the amounts expected to be recovered or paid on differences between the carrying amounts of assets
and liabilities and their respective calculation bases, and accumulated tax loss carryforwards and the negative basis of CSLL. These amounts
are measured at the rates expected to apply in the period in which the asset is realized or the liability is settled. Deferred tax assets
are only recognized for temporary differences to the extent that it is considered probable that the consolidated entities will have sufficient
future taxable profits against which the deferred tax assets can be used.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Other deferred tax assets (accumulated
tax loss carryforwards) are only recognized if it is considered probable that the consolidated entities will have sufficient future taxable
profits so that they can be used. The recognized deferred tax assets and liabilities are reviewed at each balance sheet date, with the
appropriate adjustments being made based on the findings of the analyses performed. The expectation of realization of the Bank's deferred
tax assets is based on projections of future results and grounded in a technical study.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_007"></FONT>2.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Accounting policies and determination
criteria</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The accounting policies and calculation
criteria used in preparing the consolidated financial statements were as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Functional and presentation
currency</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander's consolidated financial
statements are presented in Reais, the functional currency of the entities and the presentation currency of these statements.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For each subsidiary, foreign entity and
investment in an unconsolidated company, Banco Santander has defined the functional currency. The assets and liabilities of these entities
are translated as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- assets and liabilities are translated
at the exchange rate on the balance sheet date.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- revenues and expenses are translated
at the average monthly exchange rate.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- translation gains and losses on net investment
are recorded in the statement of comprehensive income, under the &#34;exchange rate variation on investees located abroad&#34; line.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>b)
Basis for consolidation</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></B></P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>i.
Subsidiaries</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The term &#34;Subsidiaries&#34; refers
to entities that are under the Bank's control. This control is based on the Bank's: i) power over the invested entity; ii) exposure or
entitlement to variable returns deriving from its relationship with the invested entity, and iii) ability to use its power to influence
the level of returns, as established by legal, statutory, or contractual provisions.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Subsidiary consolidation takes place when
the Bank secures control over the subsidiary and ends upon the loss of control. Notably, the income and expenses of a subsidiary that
is either acquired or divested during the fiscal year are incorporated in the income statement and Other Comprehensive Income from the
date on which the Bank acquires control to the point when it no longer exercises control over the subsidiary.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The result and each component of Other
Comprehensive Income are attributed to the controllers of the Bank and to the non-controlling interests even if the effect is assigned
to the non-controlling interests. The total comprehensive income of the subsidiaries is attributed to the owners of the Bank and to the
non-controlling interests, even if this results in a negative balance for the non-controlling interests. All transactions, balances, income,
and expenses between the companies of the Santander Conglomerate are fully eliminated in the consolidated financial statements.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Any changes to Santander Conglomerate's
stakes in controlled entities that do not result in a loss of control over the subsidiaries are recorded as equity transactions. The difference
between the value at which the non-controlling interests are adjusted and the fair value of the considerations paid or received is recorded
directly in equity and attributed to the owners of the Company.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">When the Bank loses control of a subsidiary,
the gain or loss is recognized in the income statement and is determined by the difference between: (i) the sum of the fair value of the
considerations received and the fair value of the residual interest; and (ii) the previous balance of the subsidiary's assets (including
goodwill) and liabilities, and non-controlling interests, if any. All values previously recognized in &#34;Other Comprehensive Income&#34;
related to the subsidiary are accounted for as if the Bank had directly disposed of the corresponding assets or liabilities of the subsidiary
(i.e., reclassified to profit or loss or transferred to another shareholders' equity account, as required or permitted by the applicable
IFRSs). The fair value of any investment held in the former subsidiary at the date of loss of control is considered as the fair value
upon initial recognition for subsequent accounting under IFRS 9 Financial Instruments or, where applicable, the cost upon initial recognition
of an investment in an associate or joint venture.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>ii. Interests in joint ventures (entities
under joint control) and associates</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Joint ventures are equity interests in
entities that are not subsidiaries, yet are jointly controlled by two or more unrelated entities. This joint control is manifested in
contractual arrangements in which two or more entities (&#34;venturers&#34;) acquire interests in entities (&#34;jointly controlled
entities&#34;) or own operations or hold assets, such that the strategic financial and operational decisions affecting the joint venture
are contingent upon the unanimous decision of the venturers.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Associates are those entities over which
the Bank has the ability to exert significant influence (significant influence is the power to partake in the decision-making regarding
the financial and operational policies of the invested entity) but lacks control or joint control.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In the consolidated financial statements,
the interests in jointly-controlled entities and investments in associates are accounted for using the equity method, that is, the Bank's
share in the net assets of the invested entity, taking into account dividends received from the eliminations of capital and other derivatives.
Pertinent details regarding the entities accounted for using the equity method by the Bank are disclosed in <B>note 11</B>.&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>iii. Mergers, acquisitions, and company
disposals</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">A business combination refers to the amalgamation
of two or more separate entities or economic units into a single entity or a group of entities, accounted for in accordance with IFRS
3 &#8211; &#8220;Business Combinations&#8221;.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Business combinations are carried out in
such a way that the Bank gains control of an entity and are accounted for as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">The Bank calculates the cost
of the business combination, defined as the fair value of the assets offered, the liabilities incurred, and the equity instruments issued,
if applicable.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">The fair values of the assets,
liabilities, and contingent liabilities of the acquired entity or business, including intangible assets not recognized by the acquired
entity, are estimated on the acquisition date and recognized in the consolidated balance sheet.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">The surplus of the acquisition
cost over the fair value of the identifiable net asset acquired is recognized as goodwill (<B>note 13</B>). The surplus of the fair value
of the identifiable net assets over the acquisition costs is regarded as an advantageous purchase and is recognized in the income statement
on the acquisition date.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Note 3</B> outlines the most significant
transactions that took place in 2024 and 2023.</P>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify; text-indent: 1in">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>iv.
Investment Funds</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">This encompasses the Investment Funds in
which the Bank and its subsidiaries hold a substantial stake or the entirety of their shares, and over which the Bank and its subsidiaries
are exposed, or have the right to variable returns and have the ability to influence these returns through decision-making power, in accordance
with IFRS 10 &#8211; Consolidated Financial Statements, and are therefore consolidated in these Consolidated Financial Statements.</P>

<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Definitions and classification
of financial instruments</B></P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>i.
Definitions</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8220;Financial instrument&#8221; is defined
as any agreement that creates a financial asset in one entity and concurrently a financial liability or equity interest in a different
entity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8220;Equity instruments&#8221; are any
contracts representing a residual equity interest in the assets of the issuing entity after all its liabilities have been deducted.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#34;Derivative&#34; is a financial instrument
whose value changes in response to fluctuations in an observable market variable (such as interest rates, currency exchange rates, financial
instrument prices, market indices, or credit ratings), where the initial investment is considerably lower relative to other financial
instruments that react comparably to shifts in market factors, and is typically settled at a future date.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#34;Hybrid financial instruments&#34;
are agreements that simultaneously encompass a non-derivative main contract and a derivative, termed an embedded derivative, which is
non-transferable on its own and has the effect of causing part of the cash flows from the hybrid contract to fluctuate in a manner similar
to that of a standalone derivative.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The following transactions are not treated
for accounting purposes as financial instruments:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Investments in subsidiaries, jointly-controlled
entities, and associates (<B>notes 3 and 11</B>).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Rights and obligations arising
from employee benefit plans (<B>note 21</B>).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>ii. Classification of financial assets
for measurement purposes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial assets are initially classified
into various categories for management and measurement purposes, except when it is mandatory to report them as &#34;Non-current assets
held for sale,&#34; or in cases pertaining to &#34;Cash and cash equivalents,&#34; &#34;Derivatives used as hedging instruments,&#34;
and &#34;Investments in associates,&#34; all of which are accounted for separately.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial assets are, for measurement purposes,
included in one of the following categories:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>&#8226; Financial assets measured at
fair value through profit or loss:</B> this category includes financial assets acquired with the intention of generating short-term profit
from their price fluctuations and financial derivatives not classified as hedging instruments, where the Bank's primary business model
is to engage in frequent trading, financial assets that did not meet the criteria established in the SPPI Test (principal and interest
payments only) and financial assets for which the Fair Value Option was made at the time of initial designation.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>&#8226; Financial assets measured at
fair value in Other Comprehensive Income:</B> are financial assets that meet the SPPI criteria, the objective of which is to maintain
the assets to receive contractual cash flows and also for sale.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Results arising from changes in fair value
are recognized in the market value adjustment item in equity, with the exception of losses due to impairment, which are recognized in
profit or loss. When a financial asset is disposed of or shows signs of a decline in fair value due to non-recovery, the result previously
accumulated in the fair value adjustment account in equity is reclassified to profit or loss.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>&#8226; Financial assets measured at
amortized cost:</B> this category includes financing granted to third parties, based on their nature, regardless of the type of borrower
and the form of financing, including financial leasing transactions in which the entities included in the consolidation act as lessors.
The entities included in the consolidation generally have a business model of holding the loans and credits they grant until their final
maturity, which are therefore presented in the consolidated balance sheet at amortized cost (which includes the necessary adjustments
to reflect estimated impairment losses).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>iii. Classification of financial assets
for presentation purposes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial assets are classified by nature
under the following line items of the consolidated balance sheet:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8220;Cash and Cash Equivalents&#8221;
and &#8220;Compulsory deposits with the Brazilian Central Bank&#8221;: cash balances and demand deposit credit balances with Brazilian Central Bank (Bacen).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#34;Financial assets measured
at amortized cost&#34;: this includes loans granted by the Bank, as well as financial leasing credits and other outstanding balances
of financial nature owed to the Bank, such as checks drawn on financial institutions, credit balances with clearing houses and settlement
agencies for stock exchange and organized market transactions, bonuses paid in cash, capital calls, fees and commissions receivables for
financial guarantees, and outstanding balances resulting from transactions not originated through banking operations and services, such
as rent collections and similar items.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8220;Loans and other receivables
from credit institutions&#8221;: credits of any kind in the name of financial institutions.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8220;Loans and advances to
customers&#8221;: this includes outstanding balances of all other credits and loans granted by the Bank, including transactions conducted
in the open market through centralized counterparties.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8220;Debt instruments&#8221;:
bonds and other securities that constitute a debt obligation for the issuer, yield interest, and are issued in either physical or book-entry
form.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#34;Equity instruments&#34;:
financial instruments issued by other entities, such as shares, which are of an equity nature for the issuer, excluding investments in
subsidiaries, jointly-controlled entities, or associates.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8220;Derivatives&#8221;: this
includes the fair value in favor of the Bank from derivatives that are not categorized as hedging instruments.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8220;Derivatives used as hedging
instruments&#8221;: this includes the fair value in favor of the Bank from derivatives assigned as hedging instruments.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8220;Investments in associates
and joint ventures&#8221;: this includes investments in jointly-controlled entities or associates.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify; text-indent: 5.5in">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>iv.
Classification of financial liabilities for measurement purposes</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial liabilities are classified, for
measurement purposes, into one of the following categories:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Financial Liabilities Measured at
Fair Value through Profit or Loss: this category includes financial liabilities issued to generate short-term profit from their price
fluctuations, financial derivatives not considered as hedge accounting, and financial liabilities arising from the direct sale of financial
assets acquired under repurchase agreements or borrowed (&#34;Short positions&#34;).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Other financial liabilities at fair
value through profit or loss: financial liabilities are included in this category when more relevant information is obtained, either by
eliminating or significantly reducing recognition or measurement inconsistencies (&#8220;accounting differences&#8221;) arising from the
measurement of assets or liabilities or from the recognition of gains or losses on them on different bases, or because there is a group
of financial liabilities or financial assets and liabilities that is managed and whose performance is assessed based on fair value, in
accordance with a documented risk management or investment strategy, and information about the Bank is provided to the Bank's key management
professionals on the same basis.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Financial liability at amortized
cost: financial liabilities, regardless of their form and maturity, not included in any of the previous categories and arising from financing
activities undertaken by financial institutions.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>v. Classification of financial liabilities
for presentation purposes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial liabilities are classified by
nature under the following line items in the consolidated balance sheet:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; &#8220;Deposits from credit institutions&#8221;:
deposits of any kind, including liabilities from loans and on-lending as well as funding raised in the open market, received from credit
institutions.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; &#8220;Customer deposits&#8221;:
this includes deposits of any kind such as demand, savings, and time deposits, as well as open market transactions, received from customers.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; &#8220;Liabilities arising from
securities&#8221;: this includes the value of bonds and other debt represented by tradable securities, except for subordinated liabilities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; &#8220;Derivatives&#8221;: this
includes the negative fair value balance of the Bank&#8217;s derivatives that are not part of hedge accounting.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; &#8220;Short positions&#8221;: this
includes the value of financial liabilities arising from the direct sale of financial assets acquired under repurchase agreements or borrowed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; &#34;Capital-eligible debt instruments&#34;: the value of financing received which, in terms of payment priority, rank below ordinary debt. This category also encompasses
financial instruments issued by the Bank which, despite being shares for legal purposes, do not satisfy the criteria to be categorized
as equity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; &#34;Other financial liabilities&#34;:
this includes the value of payment obligations characterized as financial liabilities not accounted for under other line items and liabilities
subject to financial guarantee agreements, excluding those classified as questionable settlement.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; &#8220;Derivatives used as hedging
instruments&#8221;: this includes the fair value of the Bank&#8217;s liabilities from derivatives assigned as hedging instruments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; &#8220;Equity instruments&#8221;:
financial instruments issued by other entities, such as shares, which are equity instruments for the issuer, except investments in subsidiaries,
jointly controlled entities or associates.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>d) Funding, issuances, and
other liabilities</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Funding instruments are initially recorded
at their fair value, which is essentially regarded as the transaction price. They are subsequently measured at amortized cost (on an accrual
basis) with its inherent expenses recognized as a financial cost.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Within the initial liability recognition
criteria, attention should be given to composite instruments, which are classified as such because they comprise both a debt instrument
(liability) and an embedded shareholders' equity component (derivative).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The registration of a composite instrument
involves the combination of (i) a main instrument, which is recognized as a genuine liability of the entity (debt), and (ii) an equity
component (derivative convertible into ordinary shares).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The issuance of &#34;Notes&#34; must
be recorded in a specific liability account and adjusted based on the contracted rates, and recalibrated due to the impact of exchange
rate variation, when issued in a foreign currency. All remunerations related to these instruments, such as interest and currency fluctuations
(difference between the functional currency and the currency in which the instrument was denominated), must be recognized as expenses
for the period, in accordance with the accrual basis of accounting.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Pertinent information regarding the issuance
of these capital-eligible debt instruments is described in <B>note 19</B>.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>e)
Measurement of financial assets and liabilities and recognition of fair value changes</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">In
general, financial assets and liabilities are initially recognized at fair value, which is deemed equivalent, until proven otherwise,
to the transaction price. Financial instruments not measured at fair value through profit or loss are adjusted for transaction costs.
Financial assets and liabilities are subsequently measured at the end of each period as follows:</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>i. Measurement of financial assets</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial assets are measured at fair value,
without deduction for estimated transaction costs that might be incurred upon their disposal, except for financial assets measured at
amortized cost, equity instruments whose fair value cannot be determined in a sufficiently objective manner, and financial derivatives
that have equity instruments of this kind as their underlying and are settled by delivering such instruments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The &#8220;fair value&#8221; of a financial
instrument on a given date is the price that would be received from the sale of an asset or would be paid for the transfer of a liability
in a voluntary exchange among market participants on the measurement date. The most objective and common benchmark for the fair value
of a financial instrument is the price that would be paid for it in an active, transparent, and significant market (&#8220;quoted price&#8221;
or &#8220;market price&#8221;).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In the absence of a market price for a
particular financial instrument, its fair value is estimated based on the valuation techniques commonly adopted by the international financial
community, taking into account the specific characteristics of the instrument to be measured and, most importantly, the various types
of risks associated with it.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">All derivatives are recognized on the
balance sheet at fair value from the transaction date. When the fair value is positive, they are recognized as assets; when negative,
as liabilities. Changes in the fair value of derivatives since the transaction date are recognized in the &#34;Gains (losses) on financial
assets and liabilities&#34; line item of the consolidated income statement. Specifically, the fair value of standard financial derivatives
included in the portfolios of financial assets or liabilities measured at fair value through profit or loss is deemed equivalent to their
daily quoted price; if, under exceptional circumstances, should it be unfeasible to ascertain the quoted price on a specific date, these
derivatives are measured using methods similar to those employed for valuing derivatives traded in the over-the-counter market.</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>


<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The fair value of over-the-counter traded
derivatives is deemed to be the aggregate of the instrument's future cash flows, discounted to their present value on the measurement
date (referred to as &#34;present value&#34; or &#34;theoretical close&#34;), employing commonly used financial market valuation techniques
such as Net Present Value (NPV), option pricing models, and other methods.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#34;Financial assets measured at amortized
cost&#34; are measured at amortized cost utilizing the effective interest method. The &#34;amortized cost&#34; is the acquisition cost
of a financial asset or liability, either increased or decreased, as applicable, by the principal repayments and cumulative amortization
(included in the income statement) of the difference between the initial cost and the maturity value. In the case of financial assets,
the amortized cost also includes any reductions for impairment or inability to collect. For financial assets measured at amortized cost
that are subject to fair value hedging, the fair value changes of these assets associated with the hedged risk(s) are recognized.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The &#34;Effective interest rate&#34;
is the discount rate that exactly matches the initial value of the financial instrument when compared to the projected cash flows from
various sources throughout its residual useful life. In the case of fixed-income financial instruments, the effective interest rate coincides
with the contractual interest rate stipulated on the contract date, plus, as applicable, fees and transaction costs which, given their
nature, are part of their financial yield. For equity financial instruments, the effective interest rate coincides with the prevailing
return rate on all commitments until the following interest adjustment reference date.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Equity instruments for which fair value
cannot be measured in a sufficiently objective manner are measured at acquisition cost, adjusted, as appropriate, for impairment losses
related thereto.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The values at which financial assets are
recognized correspond, in all material respects, to the Bank's maximum credit risk exposure as of the date of each financial statement.
Furthermore, the Bank has secured guarantees and additional credit support to mitigate its exposure to credit risk, predominantly comprising
mortgages, cash collateral, equity instruments, sureties, assets leased under leasing and rental agreements, assets acquired under repurchase
agreements, securities lending, and derivatives.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>ii. Measurement of financial liabilities</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In general, financial liabilities are measured
at amortized cost, as previously defined, except for those included under the line items &#34;Financial liabilities measured at fair
value through profit or loss&#34; and &#34;Other financial liabilities measured at fair value through profit or loss,&#34; as well
as financial liabilities designated as hedging instruments, which are measured at fair value.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>iii. Recognition of fair value changes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As a general rule, changes in the book
value of financial assets and liabilities are recognized in the consolidated income statement. These are distinguished between those arising
from the interest provisioning and similar gains - recognized under the line item &#34;Interest and Similar Income&#34; or &#34;Interest
and Similar Expenses,&#34; as applicable - and those derived from other factors, recognized at their net value under the line item &#34;Gains
(Losses) on Financial Assets and Liabilities (Net).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Adjustments due to fair value changes related
to financial assets measured at fair value through Other Comprehensive Income are temporarily recognized in equity under the line item
&#34;Other Comprehensive Income.&#34; Items debited or credited to this account remain in the Bank's consolidated shareholders' equity
until the respective assets are written off, at which point they are debited to the consolidated income statement.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>iv. Hedging transactions</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The consolidated entities make use of financial
derivatives for the following purposes: (i) to provide these instruments to clients who request them for managing their market and credit
risks; (ii) to employ them in the risk management of their own positions and the assets and liabilities of the Bank's entities (Derivatives
used as hedging instruments); and (iii) to achieve gains from price fluctuations of these derivatives (Derivative financial instruments).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial derivatives that do not qualify
for hedge accounting are treated, for accounting purposes, as trading derivatives.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">A derivative qualifies for hedge accounting
if all the following conditions are met:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">1. The derivative instrument provides protection
against one of the three types of exposure listed below:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">a. Changes in the fair value of assets
and liabilities as a result of fluctuations, among others, in interest rates and/or the exchange rate to which the position or balance
being hedged is subject (fair value hedge);</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">b. Changes in the projected cash flow stemming
from financial assets and liabilities, commitments, and anticipated transactions that are highly likely (cash flow hedging);</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">c. Net investment in an overseas venture
(hedging of a net investment in an overseas operation).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">2. When it is effective in offsetting the
inherent exposure associated with the item or protected position over the entire anticipated duration of the hedge, that is:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">a. On the date of the agreement, the hedge
is expected to be highly effective under normal circumstances (prospective effectiveness).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">b. There is sufficient evidence that the
hedge remained effective throughout the entire period for which the hedge or hedged item was designated (retrospective effectiveness).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">3. There must be adequate documentation
proving the specific designation of the financial derivative for the hedging of certain balances or transactions, and the manner in which
this effective protection was expected to be achieved and measured, contingent upon its conformity with the Bank's own risk management
practices.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Changes in the value of financial instruments
eligible for hedge accounting are recognized as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">a. For fair value hedging, both gains and
losses on the hedge instruments and the hedged items (attributable to the type of risk being hedged) are recognized directly in the consolidated
statement of income.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">b. For cash flow hedging, the effective
portion of the change in the value of the hedging instrument is temporarily recognized in equity under the line item &#34;Other Comprehensive
Income - Cash Flow Hedging&#34; until the forecasted transactions occur, at which point this portion is then recorded in the consolidated
income statement, unless the forecasted transactions lead to the recognition of non-financial assets or liabilities, in which case this
portion will be included in the cost of the non-financial asset or liability. The ineffective portion of the change in the value of foreign
exchange hedging derivatives is recognized directly in the consolidated income statement.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">c. The ineffective portion of gains and
losses on hedge instruments related to cash flow hedging and hedges of a net investment in an overseas operation is recognized directly
in &#34;Gains (losses) on financial assets and liabilities (net)&#34; in the consolidated income statement.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">If a derivative designated as a hedging
instrument ceases to meet the previously described requirements as a result of expiration, ineffectiveness, or for any other reason, such
derivative will be reclassified as a derivative measured at fair value through profit or loss.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Upon discontinuation of fair value hedge
accounting (whether due to revocation, expiration, sale, or failure to continue meeting accounting hedge criteria), the previously recognized
adjustments to the hedged item are transferred to the profit and loss account, using the recalculated effective interest rate at the date
of the hedge's termination. The adjustments must be fully amortized by the maturity date.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">When cash flow hedging operations are discontinued,
any cumulative gain or loss on the hedge instrument recognized in equity under the line item &#34;Other Comprehensive Income&#34; (from
the time the hedge was established and deemed effective) is immediately recognized in the profit and loss account.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For the accounting and disclosure of hedge
accounting structures on December 31, 2024, the Bank used the option of IFRS 9 to maintain the practices determined by IAS 39.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>f) Write-off of financial
assets and liabilities</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Financial Asset Write-Off</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank writes off a financial asset when
the contractual rights to the cash flows from the asset expire or when it transfers the rights to receive the contractual cash flows in
a transaction in which substantially all risks and rewards associated with the financial asset's ownership are transferred, or in which
the Bank neither transfers nor retains substantially all the risks and rewards of the financial asset's ownership and does not maintain
control over the financial asset.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On derecognition of a financial asset,
the difference between the carrying amount of the asset (or carrying amount allocated to the portion of the asset derecognized) and the
sum of (i) the consideration received (including any new asset obtained, less any new liability assumed) and (ii) any accumulated gains
or losses recognized in &#8220;Other Comprehensive Income&#8221; is recorded in profit or loss.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Any gains/losses accumulated and recognized
in &#34;Other Comprehensive Income&#34; related to equity instruments measured at fair value through Other Comprehensive Income are
not recorded in the profit and loss statement upon the disposal of these securities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank engages in transactions in which
it transfers assets recognized on its balance sheet, but retains all or substantially all the risks and rewards of the transferred assets
or a portion thereof. In these cases, the transferred assets are not written off. Examples of such transactions include the assignment
of loan portfolios with joint liability. In transactions where the Bank neither retains nor substantially transfers all the risks and
rewards of ownership of a financial asset and retains control of the asset, the Bank continues to recognize the asset based on the degree
of its ongoing engagement, determined by the extent to which it is exposed to changes in the value of the transferred asset.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Financial asset write-off due to credit
assignment </B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The accounting treatment for the transfer
of financial assets depends on the extent to which the risks and rewards associated with the transferred assets have been transferred
to third parties:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">If the Bank transfers substantially all
the risks and rewards to third parties, execute an unconditional sale of financial assets, engage in the sale of financial assets under
an agreement stipulating their repurchase at fair value on the repurchase date, conduct the sale of financial assets with a call option
purchase or a put option sale that is significantly out of the money, or securitization of assets in which the transferor does not retain
a subordinated debt or provide credit enhancement to the new holders, and other similar cases, the transferred financial asset is written
off, and any rights or obligations retained or created in the transfer are recognized simultaneously.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">If the Bank retains substantially all the
risks and rewards associated with the transferred financial asset, such as financial asset sales under an agreement stipulating their
repurchase at a fixed price or at the sale price plus interest, a securities lending agreement in which the borrower pledges to return
the same assets or similar assets, and other similar situations, the transferred financial asset is not written off and continues to be
measured using the same criteria as before the transfer. However, the following items are recognized:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">A corresponding financial liability, for
an amount equal to the consideration received; this liability is thereafter measured at amortized cost.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The revenue from the transferred financial
asset not written down and any expense incurred with the new financial liability.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">If the Bank does not transfer or substantially
retain all the risks and rewards associated with the transferred financial asset - such as the sale of financial assets with a purchased
call option or a written put option that is not significantly out of the money, securitization of assets in which the assignor retains
a subordinated debt or another type of credit enhancement related to a portion of the transferred asset, and other similar scenarios -
a distinction is then drawn as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">If the assignor does not retain control
of the transferred financial asset, the asset is written off, and any rights or obligations retained or created in the transfer are recognized.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">If the assignor retains control, it continues
to recognize the transferred financial asset at a value equivalent to its exposure to value fluctuations and recognizes a financial liability
associated with the transferred financial asset. The net carrying amount of the transferred asset and the corresponding liability is
the amortized cost of the retained rights and obligations if the transferred asset is measured at amortized cost, or the fair value of
the retained rights and obligations if the transferred asset is measured at fair value.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Financial Liabilities Write-Off </B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank writes off a financial liability
when its contractual obligations are extinguished, annulled, or reach their maturity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>g) Offsetting of assets
and liabilities</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial assets and liabilities are offset,
that is, recorded in the balance sheet at their net value, only if the Bank and its subsidiaries currently have a legally enforceable
right to offset the recognized amounts and intend to settle on a net basis, or to realize the asset and settle the liability simultaneously.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Offsetting and Settlement Agreements for
Obligations &#8211; IFRS 07 &#8211; Derivative Instruments (Disclosure) - Banco Santander has netting and settlement agreements for obligations
within the National Financial System (&#34;SFN&#34;), signed with both natural and legal persons, whether part of the SFN or not, resulting
in increased financial settlement assurance with the parties that have such agreements. These agreements stipulate that, in the event
of counterparty default, the payment obligations to Banco Santander arising from credit and derivative transactions will be offset by
Banco Santander's payment obligations to the counterparty.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The table below provides details of the
financial assets and liabilities subject to offsetting as of December 31, 2024 and 2023:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of financial assets and liabilities subject to offsetting</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 27%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 18%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 36%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 19%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Assets:</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets, gross</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets<BR>
offset in the balance sheet</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets, net</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42,380,547</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,174,248)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>40,206,299</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Liabilities:</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial liabilities, gross</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial liabilities<BR>
offset in the balance sheet</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial liabilities, net</B></FONT></TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets, gross</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets<BR>
offset in the balance sheet</B></FONT></TD>
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  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Liabilities:</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial liabilities, gross</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial liabilities<BR>
offset in the balance sheet</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial liabilities, net</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,684,129</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(743,702)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">24,940,427</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>




<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>h)
Non-recoverable financial assetsrment of financial assets</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></B></P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>i.
Definition</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">A financial asset is deemed non-recoverable
when objective evidence exists of events that:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Cause an adverse impact on estimated
future cash flows at the date of the transaction, in the case of debt instruments (loans and debt securities).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Indicate that their book value cannot
be fully recovered, in the case of equity instruments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Arise from the breach of loan agreement
clauses or terms, and</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; In the event of bankruptcy proceedings.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As a general rule, whenever the aforementioned
events are observed, the carrying amount of non-recoverable financial assets is adjusted by recording a provision for loss as a debit
to the expense under &#34;Impairment losses on financial assets (net)&#34; in the consolidated income statement. The reversal of previously
recorded losses is recognized in the consolidated income statement in the period in which the impairment decreases and can be objectively
associated with a recovery event.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>ii. Debt instruments recorded at amortized
cost</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The value of a loss for the determination
of the recoverable amount of a debt instrument measured at amortized cost is equal to the difference between its carrying amount and the
present value of its projected future cash flows (excluding future credit losses not yet incurred), discounted at the financial asset's
original effective interest rate (i.e., the effective interest rate calculated at initial recognition), presented as a reduction in the
asset's balance and recognized in the income statement.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">When projecting future cash flows for debt
instruments, the following factors are taken into consideration:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; All values expected to be obtained
over the residual life of the instrument, including, where applicable, the guarantees provided. The loss due to non-recovery further considers
the likelihood of collecting provisioned interest receivables;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The various types of risks to which
each instrument is subject; and</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The circumstances under which collections
are expected to be executed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">These cash flows are then discounted at
the effective interest rate of the transaction.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Specifically regarding the adjustment in
the recoverable amount resulting from the materialization of the insolvency risk of counterparties (credit risk), a debt instrument is
deemed non-recoverable due to insolvency when there is evidence of a deterioration in the counterparty's payment capacity, whether due
to being overdue or for other reasons.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank, through its risk management
division, implements policies, methods, and procedures to mitigate its exposure to credit risk arising from insolvency attributable to
counterparties.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">These policies, methods, and procedures
are applied in the issuance, examination, and documentation of debt instruments, contingent liabilities, and other commitments, in the
identification of recoverable value, and in the calculation of the amounts needed to cover the respective credit risk.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The procedures applied in the identification,
measurement, control, and mitigation of credit risk exposure are based on an individual level or grouped by similarity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Customers under individualized management:
Wholesale clients, financial institutions, and certain companies. Risk management is performed through an analysis enhanced by decision-support
tools that rely on internal risk assessment models.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Customers under standardized management:
this category includes individuals and entities not classified as individualized customers. The approach to risk management employs automated
models for decision-making and assessing internal risk. These models are supplemented by specialized analyst teams in instances where
the model's comprehensiveness or accuracy falls short. Loans associated with standardized customers are generally classified as non-recoverable
when there is a historical record of losses and are overdue by more than 90 days.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">With regard to the provision for credit
risk impairment losses, the Bank assesses all loans. Loans are either assessed individually for impairment or assessed collectively for
impairment. Loans recorded at amortized cost that are not assessed individually for impairment are assessed collectively for impairment
and are grouped together considering similarity of risk. Loans assessed individually for impairment are not included in balances assessed
collectively for impairment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In assessing impairment losses on loans
on an individual basis, the Bank takes into account the borrower's conditions, including their economic and financial status, level of
indebtedness, capacity for income generation, cash flow, management, corporate governance, and the quality of internal controls, payment
history, industry experience, contingencies, and credit limits, as well as other relevant characteristics pertaining to assets, including
their nature and purpose, type, adequacy, and liquidity level guarantees, as well as the total credit value, and also based on historical
experiences of impairment losses and other known circumstances at the time of assessment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To calculate the impairment loss on loans
collectively assessed for impairment, the Bank categorizes financial assets into groups based on their credit risk characteristics and
similarities. This classification considers various factors, including the segment, type of assets, collateral, and other elements associated
with the historical experience of impairment losses and other known circumstances at the time of assessment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In certain instances, the observable data
required to estimate the loss amount due to an impairment of a financial asset may be limited or may no longer be entirely relevant to
the current circumstances.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In these instances, the entity employs
its judgment-based experience to estimate the value of any impairment losses. Similarly, the entity utilizes its judgment-based experience
to adjust the observable data for a group of financial assets to accurately reflect the current circumstances.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The impairment loss is calculated using
statistical models that consider the following factors:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Exposure at Default (EAD) - this
is the amount of risk exposure on the date the borrower defaults. The duration of the default is incorporated into the calculation of
the &#34;Probability of Default&#34; (PD).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; In accordance with IFRS, the exposure
level used for this calculation is the actual exposure as disclosed in the balance sheet.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Probability of Default (PD) - this
is the likelihood that the borrower will not meet their obligations for principal and/or interest payments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Probability of Default is determined
using a one-year time horizon for transactions classified under stage 1, as well as over the lifetime of the asset (stages 2 and 3); that
is, it quantifies the probability of the borrower defaulting. A loan is considered to be in default if either the principal or interest
is overdue by ninety days or more, or if the loan is outstanding and there are significant doubts regarding the counterparty's solvency
(subjective doubtful assets).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Loss Given Default (LGD) - this
refers to the loss incurred upon default.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The LGD calculation is based on the net
write-offs of non-performing loans, factoring in the collateral associated with the loans, the income and expenses related to the recovery
process, and the point in time when the default occurs.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Loss Identification Period (LIP)
- this refers to the interval between the occurrence of a loss event and the identification of evidence substantiating that loss. In other
words, it delineates the time span from when a credit loss event occurs to when such loss is conclusively confirmed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Furthermore, before writing off non-performing
loans (which is done only after the Bank has exhausted all recovery efforts), a full provision is made for the remaining outstanding
amount of the loan so that the loan loss provision fully covers the losses. Accordingly, the Bank understands that its loan loss provision
methodology was developed to match its risk metrics and capture loans that could potentially show impairment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>iii. Debt instruments or equity instruments
classified as financial assets measured at fair value through Other Comprehensive Income</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The difference between the amortized cost
and the fair value of debt instruments or equity instruments classified as financial assets measured at fair value through Other Comprehensive
Income is recognized in equity, under the identically titled line item.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">When there is objective evidence indicating
that the previously mentioned differences are attributable to an impairment loss recognized due to a decline in fair value from non-recovery,
these are no longer recognized in equity and are reclassified to the consolidated statement of profit or loss at the cumulative amount
as of that date. Losses deemed permanent on an investment in equity instruments are not reversed in subsequent periods.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>i) Repurchase agreements</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Purchases (sales) of financial assets under
a non-optional repurchase (repo) agreement at a fixed price are recognized in the consolidated balance sheet as investments (funding)
in repurchase agreements, depending on the nature of the debtor (creditor), classified under the line items &#34;Cash and Cash Equivalents
and compulsory deposits with the Brazilian Central Bank,&#34; &#34;Loans and other receivables from credit institutions,&#34; or &#34;Loans
and advances to customers&#34;, (&#8220;Deposits from credit institutions&#8221;
or &#8220;Customer deposits&#8221;).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Differences between purchase and sale
prices are recognized as interest income over the contract period.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>j) Lease Accounting &#8211;
IFRS 16</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>I. Lease Identification</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Upon adopting IFRS 16, the Bank recognizes
lease liabilities in accordance with the principles of IFRS 16 - Leases.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The following exemptions from recognition
are also being applied:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Accounting for leases with a remaining
lease term of less than 12 months as short-term leases;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The accounting for leases of low-value
underlying assets.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank enters into leases for properties
and equipment. Predominantly, the assets covered by these lease agreements are real estate properties associated with the branches.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander does not hold any right-of-use
assets that fall under the definition of investment properties.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>II. Lease term</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Lease agreements are formalized, analyzed,
and renegotiated on an individual basis, encompassing a broad range of distinct terms and conditions. The Bank assesses the lease term,
as well as its intention to continue occupying the properties. Consequently, lease term estimates may vary in accordance with contractual
conditions, considering extension options and legal provisions.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank considers that penalties for early
termination of contracts charged before the maturity date do not represent a significant component.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Lease agreements do not contain restrictive
clauses, but leased assets cannot be used as collateral for loans.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>III. Initial Measurement</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Upon initial recording, leases are recognized
as a right-of-use asset and a corresponding liability on the date the leased asset becomes available for use by the Group.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The right-of-use asset to be recognized
is measured at its cost, counterbalanced by the lease liability, which represents the present value of the lease payments not yet made
as of the date. Lease payments are discounted using the lessee's incremental borrowing rate. There are no onerous contracts that required
an adjustment to the right-of-use assets to be recognized at the date of initial adoption.&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The right-of-use assets are measured at
amortized cost as per the following:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The initial measurement value of
the lease liability;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Any lease payment made on or before
the start date, net of any incentives received;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Any initial costs directly attributable;
and</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Restoration costs, if the criteria
of IAS 37 are fulfilled for the recognition of Provisions, Contingent Liabilities, and Contingent Assets.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Santander Group adopts as the incremental
borrowing rate the interest rate it would incur to borrow the necessary funds to obtain an asset of similar value to the leased asset,
under equivalent terms, collateral, and economic conditions. This rate is represented within Santander Brasil by the funding cost curve of a free
asset, applied on an individual basis to each lease agreement in accordance with the projected lease term estimates.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Lease liabilities include the net present
value of the following lease payments:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Fixed payments net of any incentive;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Variable payments based on a rate
or index;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Payments expected to be made by
the lessee, based on the residual value of guarantees;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The exercise price of a call option,
if the lessee has reasonable assurance about the option's exercise; and</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Penalty payments for lease termination
if the lease term reflects the exercise of the option by the lessee.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Lease liabilities are primarily adjusted
for inflation (IGP-M), with the estimated projections as of the base date of December 31, 2024 detailed below:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: white">
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule
    of lease liability restated for inflation</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 83%; padding-top: 1.9pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>IGP-M forecast </B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 17%">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Up to 3 months</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">From 3 to 12 months</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">From 1 year to 3 years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">From 3 years to 5 years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Over 5 years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4.0%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>IV. Subsequent Measurement</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">After the initial measurement, the values
&#8203;&#8203;of the assets recorded as right of use are being updated using the cost method, thus any accumulated depreciation is deducted
monthly, in accordance with the criteria of IAS 16 / CPC 27 - Fixed Assets on asset depreciation right of use and corrected any remeasurement
of the lease liability, where applicable.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The lease liability initially recorded
is updated monthly by increasing the amount of the liability for the interest portion of each lease agreement and reducing the amount
of monthly lease payments and corrected for any lease remeasurement, when applicable.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The lease liability is remeasured, in the
event of changes in the lease term or contract value, the amount resulting from the new determination of the lease liability is recorded
as a contra entry to the corresponding right-of-use asset.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Use rights are subject to an impairment
test.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>k) Non-current assets held
for sale </B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Non-current assets held for sale comprise
the carrying amount of individual items, or groups of assets designated for disposal, or items that are part of a business unit targeted
for disposal (&#34;Discontinued operations&#34;), where the sale in their current condition is highly probable and expected to take
place within one year. Real estate or other non-current assets acquired by the consolidated entities in full or partial settlement of
their debtors' payment obligations are classified as non-current assets held for sale through auctions, which typically take place within
one year.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Non-current assets held for sale are measured
at whichever is lower between the fair value minus selling costs and the carrying amount at the date they are classified in this category.
These assets are not subject to depreciation.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Impairment losses of an asset or disposal
group due to a reduction in their carrying amount to fair value (minus selling costs) are recognized in &#34;Gain/(Loss) on Disposal
and Expenses for Non-Current Assets Held for Sale Not Classified as Discontinued Operations&#34; in the consolidated statement of profit
or loss. Gains from a non-current asset held for sale, arising from subsequent increases in fair value (minus selling costs), increase
its carrying amount and are recognized in the consolidated statement of profit or loss up to the amount equivalent to the previously
recognized impairment losses.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>I) Residual maturity periods
and average interest rates</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The analysis of the maturities of the balances
of certain items in the consolidated balance sheets at the end of the years 2024 and 2023 is reported in <B>note 43-d</B>.</P>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify; text-indent: 5.5in">&#160;</P>




<!-- Field: Page; Sequence: 31 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>m) Tangible asset</B></P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Tangible asset comprise the value of buildings,
land, furniture, vehicles, computer hardware, and other equipment owned by the Bank. This category also includes tangible assets received
by the Bank in full or partial settlement of financial assets representing receivables from third parties, which are intended for sustained
use, as well as tangible assets acquired under finance leases, which are presented at their acquisition cost, minus their respective accumulated
depreciation and any impairment losses (net book value exceeding the recoverable amount).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Depreciation is calculated using the straight-line
method, based on the acquisition cost of the assets minus their residual value. Land on which buildings and other structures are situated
has an indefinite useful life and, therefore, is not subject to depreciation.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The depreciation expense for tangible assets
is recognized in the consolidated statement of income and is calculated primarily by applying the following depreciation rates (based
on the average estimated useful life of the various assets):</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of estimated average years of useful life of the different assets</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 46%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 1%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 1%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 19%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 1%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 22%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Annual Rate</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Buildings for own use</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Furniture</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fixtures</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">10%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Office and IT equipment</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Improvements on third-party properties</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4% or until the contract&#8217;s expiration date</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify; text-indent: 5in">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">At the end of each reporting period, the
Bank assesses whether there are any indications that its tangible assets may be subject to impairment, that is, when an asset's carrying
amount exceeds its recoverable amount, whether through use or sale.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Once a reduction in the recoverable amount
of the tangible asset is identified, it is adjusted to its recoverable amount by recognizing an accounting loss for the reduction in its
recoverable amount, recorded under 'Impairment losses on other assets (net).' Furthermore, the depreciation value of said asset is recalculated
to adjust the value of the asset's useful life.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In cases where there is evidence or indication
of a recovery in the value of a tangible asset, the Bank recognizes the reversal of the impairment loss previously recorded and must adjust
future depreciation expenses in line with the asset's remaining useful life. Under no circumstances may the reversal of an impairment
loss on an asset increase its carrying amount beyond what it would have been had no impairment loss been recognized in prior periods.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Maintenance and preservation expenses
for self-used fixed assets are recognized as expenses in the period in which they are incurred.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>n)
Intangible assets</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Intangible assets are identifiable non-monetary
assets (separable from other assets) without physical substance, arising from business combinations or internally developed software,
with either a finite or indefinite useful life. Recognition is limited to those assets whose acquisition cost can be reliably measured
and for which the consolidated entities deem it probable that future economic benefits will be generated.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Intangible assets are initially recognized
at their acquisition or production cost and are subsequently measured net of any accumulated amortization and any impairment losses.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>I.
Goodwill</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In the acquisition of an investment in
a subsidiary, any difference between the investment cost and the investor's share in the net fair value of the identifiable assets, liabilities,
and contingent liabilities of the invested entity (whether a subsidiary or an associate) is recognized in accordance with IFRS 3, 'Business
Combinations'.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Goodwill is recognized only when the amount
of the consideration acquired from the investee exceeds the fair value at the date of acquisition, and therefore represents a payment
made by the acquirer in anticipation of future economic benefits from assets of the acquired entity that cannot be individually identified
and separately recognized.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Annually or whenever there is any indication
of loss to recoverable value, goodwill is tested for impairment (recoverability test) and if any loss exists, goodwill is written off
and recognized as Losses on other assets (net) - Other intangible assets in the Consolidated Statement of Income.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Adjustments to the net fair value of identifiable
assets, liabilities, and contingent liabilities of the invested entity in comparison to their carrying amount are individually allocated
to the acquired identifiable assets and the assumed liabilities based on their respective fair values at the acquisition date.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In instances of business combinations
executed in stages, the previously held equity interest in the acquired entity is remeasured at its fair value on the acquisition date
at which control of said acquired entity is secured.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>II. Other intangible assets</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">This represents an identifiable, non-monetary
asset that lacks physical substance. It primarily originates from software development and the acquisition of rights capable of generating
economic benefits for the Bank. These assets may possess either a finite or indefinite useful life.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Other intangible assets are classified
as having an indefinite useful life when, following a comprehensive analysis of all relevant factors, it is determined that there is no
foreseeable limit to the period during which the asset is expected to generate cash inflows for the Bank. In all other instances, these
assets are considered to have a finite useful life.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Intangible assets with an indefinite useful
life are not amortized: at the end of each reporting period, the entity reviews the classification as having an indefinite useful life.
If this classification is maintained, these assets are subject to annual impairment tests to determine their recoverable amount (IAS36).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Intangible assets with a defined useful
life are amortized over their useful life using methods similar to those applied for depreciating tangible assets. The amortization expense
is recognized under the line item &#34;Depreciation and Amortization&#34; in the consolidated statement of income.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">At the end of each reporting period, the
Bank assesses whether there are any indications that intangible asset items may have suffered an impairment, that is, an asset whose carrying
amount exceeds its recoverable amount. Should any impairment be identified, the asset is adjusted to its recoverable amount.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The measurement of the recoverable amount
of other intangible assets - such as software - is conducted based on their value in use, as well as an analysis of the asset's discontinuation
in relation to the Bank's operations.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Software acquisition and development costs
are amortized over a maximum period of 5 years.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>o) Other assets</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">This includes the balance of all advances
and provisioned income (excluding provisioned interest), relationships with acquired customers, the net value of the difference between
pension plan obligations and the plan assets' value when this balance is in favor of the entity, provided that the net value is to be
disclosed on the consolidated balance sheet, and the value of any other amounts and assets not categorized under other items.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank employs the value in use of customer
relationships as the basis for measuring the recoverable amount, as it is not reasonably possible to determine the net sales value, given
the absence of a reliable basis for estimating the value to be realized from the sale of the asset in an arm's length transaction between
knowledgeable and willing parties. The value in use of customer relationships acquired through the purchase of &#34;payrolls&#34; is
determined on an individual basis. An analysis is conducted by the business areas with the aim of demonstrating the expected generation
of future economic benefits and the present value of the expected cash flows. These analyses are reviewed quarterly, based on the actual
cash flows of each business (value in use), which are then compared with the carrying amount to assess whether an impairment loss needs
to be recognized.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>p)
Insurance contracts</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Insurance contracts recognized by the
Bank are considered onerous, in accordance with the provisions established by IFRS 17. An insurance contract is deemed onerous at the date of initial recognition if the cash flows allocated for
fulfillment, any previously recognized acquisition cash flows, and any cash flows arising from the contract at the date of initial recognition
collectively result in a net outflow. A loss is recognized in profit or loss for the net outflow associated with the group of onerous
contracts, which leads to the carrying amount of the liability for the group being equal to the fulfillment cash flows, and the contractual
service margin of the group being zero.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>q) Provisions for judicial
and administrative proceedings, commitments, and other provisions</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander and its subsidiaries are
engaged in judicial and administrative proceedings related to tax, labor, and civil matters, stemming from the ordinary course of their
operations.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Provisions are reassessed at each balance
sheet date to reflect the most accurate current estimate and may be fully or partially reversed or reduced when it becomes improbable
that resource outflows and related obligations will occur. This includes situations such as the expiration of legal deadlines, the issuance
of final judgments in legal proceedings, among others.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Judicial and administrative provisions
are recognized when the risk of loss from judicial or administrative proceedings is assessed as probable, and the amounts involved can
be estimated with sufficient certainty based on the nature, complexity, and historical outcomes of the proceedings, as well as the opinions
of both internal and external legal advisors and the best available information. For cases where the risk of loss is considered possible,
provisions are not recognized, but the relevant information is disclosed in the notes to the financial statements. For cases where the
risk of loss is deemed remote, disclosure is not required.</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Contingent assets are not recognized in
the accounting records, except in instances where there are tangible guarantees or favorable judicial rulings, with no possibility for
further appeals, thereby rendering the gain as virtually certain. Contingent assets that have a probable likelihood of success, if any,
are solely disclosed in the financial statements.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In cases of final judgments rendered in
favor of Santander, the counterparty is entitled, upon fulfilling specific legal criteria, to initiate a rescission action within a timeframe
prescribed by the legislation in effect. Rescission actions are treated as new legal proceedings and will be assessed for contingent
liabilities if, and when, they are filed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>r) Other liabilities</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Other liabilities include the balance
of all accrued expenses and deferred income, excluding accrued interest, and the value of any other liabilities not classified under
other categories.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>s) Share-based compensation</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank has established long-term compensation
plans with specific vesting conditions. These vesting conditions include: (i) service conditions, requiring that the participant remains
employed throughout the vesting period; (ii) performance conditions, where the number of shares to be allocated to each participant is
determined based on the evaluation of a performance metric of the Bank: the comparison of the Total Shareholder Return (TSR) of the Santander
Conglomerate with the TSR of the Bank's main global competitors; and (iii) market conditions, as certain parameters are linked to the
fair value of the Bank's shares. The Bank determines the fair value of the services provided by referencing the fair value of the equity
instruments granted on the date of grant, taking into account the market conditions for each plan when estimating fair value.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Stock Settlement</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank measures the fair value of the
services provided by referencing the fair value of the equity instruments granted on the grant date, factoring in market conditions for
each plan when estimating fair value. To recognize personnel expenses against capital reserves over the vesting period, as services are
received, the Bank considers the treatment of service conditions and recognizes the amount for services received during the vesting period,
based on the most accurate estimate of the number of equity instruments expected to be granted.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Cash Settlement</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For cash-settled share-based payments
(in the form of share appreciation), the Bank measures the services provided and the corresponding liability incurred at fair value.
This process captures the share appreciation from the grant date to the settlement date. The Bank reassesses the fair value of the liability
at the end of each reporting period, and any changes in this amount are recognized in the period's results. To recognize personnel expenses
against provisions for &#34;salaries payable&#34; throughout the vesting period, reflecting the receipt of services, the Bank records
the total liability representing the best estimate of the number of share appreciation rights expected to be granted at the end of the
vesting period and recognizes the value of services received during the vesting period, based on the best available estimate. The Bank
periodically reviews its estimate of the number of share appreciation rights that will be granted at the end of the vesting period.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>t)
Recognition of income and expenses</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The key criteria employed by the Bank for
the recognition of its income and expenses are summarized below:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>i. Interest and similar income and expenses</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Interest and similar income and expenses
are generally recognized on an accrual basis, using the effective interest rate method.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>ii.
Commissions, fees, and similar items</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Fees and commission income and expenses
are recognized in the income statement using criteria that vary according to their nature (<B>notes 34 and 35</B>). The key criteria
are as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Fee and commission income and expenses,
associated with financial assets and financial liabilities measured at fair value through profit or loss, are recognized upon payment;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Those arising from transactions
or services provided over a period of time are recognized over the duration of these transactions or services; and</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Those related to services provided
in a single transaction are recognized at the time the transaction is executed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>iii.
Non-financial income and expenses</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For accounting purposes, they are recognized
on an accrual basis.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>iv.
Deferred collections and payments</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Recognized for accounting purposes at
the carrying amount derived from discounting expected cash flows at market rates.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>v.
Loan arrangement fees</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Loan arrangement fees, including application
and origination fees, are accrued and recognized in the income statement over the term of the loan. Specifically, for origination fees,
the portion attributable to direct costs incurred in the loan contract is immediately recognized in the consolidated income statement.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>u) Guarantees</B></P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>u.1)
Financial Guarantees</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial guarantees are defined as contracts
whereby an entity commits to making specific payments on behalf of a third party should that party fail to do so, irrespective of the
various legal forms they may assume, including but not limited to guarantees, irrevocable documentary credits issued or confirmed by the
entity, among others.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank initially recognizes the fees
associated with financial guarantees as liabilities on the consolidated balance sheet at fair value. This fair value is typically the
present value of the fees, commissions, or interest expected to be received from these contracts over their term.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial guarantees, irrespective of the
guarantor, the instrument, or any other circumstances, are subject to periodic reviews to assess the credit risk exposure and, where necessary,
to determine the need for a provision. Credit risk is evaluated by employing criteria similar to those used for quantifying impairment
losses on debt instruments measured at amortized cost.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The provisions established for these transactions
are recognized under the line item &#34;Provisions for Judicial and Administrative Proceedings, Commitments, and Other Provisions&#34;
in the consolidated balance sheet (<B>note 22</B>).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">If a specific provision is required for
financial guarantees, the corresponding commissions to be allocated are recognized under the line item &#34;Financial liabilities at
amortized cost - Other financial liabilities&#34; in the consolidated balance sheet and are reclassified to the appropriate provision.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>u.2) Guarantees and Credit Risk Mitigation
Policy</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander performs credit risk management
by utilizing guarantees in its operations. Each business unit is responsible for managing credit risk and formalizes the use of collateral
in its credit policies.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander employs guarantees to enhance
its recovery capabilities in operations exposed to credit risk. The types of guarantees utilized include surety, property, legal structures
with mitigation power, and offsetting agreements. Each year, the Bank conducts a review of its guarantee policies to reflect changes in
the market, the characteristics of the assets pledged as collateral, and the conditions of these assets. These are examples of the technical
parameters subject to review.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Credit limits are continuously monitored
and adjusted in response to customer behavior. Consequently, potential loss amounts constitute a fraction of total available funds.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>v)
Assets under management, including investment and pension funds, managed by the Bank</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Assets owned by third parties and managed
by the consolidated entities are not presented in the consolidated financial statements. Management fees are included in &#8220;Fee and
commission income&#8221; in the consolidated income statement. <B>Note 43-b</B> contains information on the third-party assets managed
by the Bank.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 35 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
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<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The investment funds and pension funds
managed by the consolidated entities are not recorded in the consolidated financial statements since the related assets are owned by
third parties. The fees and commissions earned in the year for the services rendered by the Bank entities to these funds (asset management
and custody services) are recognized in the heading &#8220;Fee and commission income&#8221; in the consolidated income statement.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>w)
Post-employment benefits </B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The post-employment benefit plans include
the commitments made by the Bank to: (i) supplement the benefits of the public pension system; and (ii) provide medical assistance in
the event of retirement, permanent disability, or death to eligible employees and their direct beneficiaries.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Defined contribution plans</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The defined contribution plan is a post-employment
benefit plan under which the Bank and its subsidiaries, as the sponsoring entities, contribute fixed amounts to a pension fund. There
is no legal or constructive obligation for the sponsoring entities to make additional contributions if the fund lacks sufficient assets
to fulfill all benefits associated with services rendered in the current and prior periods.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The contributions made in this regard
are recognized as &#34;Interest and Similar Expenses&#34; in the income statement.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Defined benefit plans</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The defined benefit plan is a post-employment
benefit plan that is not a Defined Contribution Plan, as detailed in <B>note 21</B>. Under this plan, the sponsoring entity has the obligation
to deliver the agreed-upon benefits to employees, bearing the potential actuarial risk that the benefits may cost more than anticipated.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For defined benefit plans, the most recent
update to IAS 19 - Employee Benefits has introduced significant changes in the accounting and disclosure of post-employment benefits,
including the elimination of the corridor mechanism in the recognition of plan obligations, as well as modifications in the criteria for
recognizing interest income on plan assets (valuation based on the actuarial obligation discount rate).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Additionally, full recognition is made
in the liability account for actuarial losses (actuarial deficit) that have not been previously recognized, with a corresponding entry
in the equity account under &#34;Other Comprehensive Income&#34;.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Main Definitions</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25pt"></TD><TD STYLE="width: 3.7pt">-</TD><TD STYLE="text-align: justify">The present value of a defined benefit obligation represents the present value, excluding any deduction
of plan assets, of the expected future payments required to settle the obligation arising from the employee's service in both the current
and prior periods.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25pt"></TD><TD STYLE="width: 3.7pt">-</TD><TD STYLE="text-align: justify">Deficit or surplus represents: (a) the present value of the defined benefit obligation; minus (b) the
fair value of the plan's assets.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25pt"></TD><TD STYLE="width: 3.7pt">-</TD><TD STYLE="text-align: justify">The sponsoring entity may recognize the plan's assets on the balance sheet when they exhibit the following
characteristics: (i) the fund's assets are sufficient to cover all obligations related to employee benefits of the plan or the sponsoring
entity; or (ii) the assets are returned to the sponsoring entity with the objective of reimbursing it for benefits already disbursed to
employees.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25pt"></TD><TD STYLE="width: 3.7pt">-</TD><TD STYLE="text-align: justify">Actuarial gains and losses are changes in the present value of the defined benefit obligation stemming
from: (a) experience adjustments (impacts of differences between the actuarial assumptions adopted and the actual outcomes); and (b) the
effects of changes in actuarial assumptions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 3.75pt">-</TD><TD STYLE="text-align: justify">The current service cost refers to the increase in the present value of the defined benefit obligation
attributable to the employee's service during the current period.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25pt"></TD><TD STYLE="width: 3.7pt">-</TD><TD STYLE="text-align: justify">The past service cost corresponds to the change in the present value of the defined benefit obligation
for services provided by employees in prior periods, resulting from amendments to the plan or a reduction in the number of employees covered.</TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Post-employment benefits are recognized
in the income statement under Interest Expenses and Similar Expenses and Provisions (Net).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Defined benefit plans are recognized based
on an actuarial study, conducted annually by an external consulting firm at the end of each financial year, and are effective for the
subsequent period.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>x) Other long-term employee
benefits </B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Other long-term employee benefits, defined
as obligations to early retirement beneficiaries - those who have ceased to render services to an entity but, without being legally retired,
continue to hold economic rights with respect to the entity until they achieve legal retirement status - time-based bonuses for accounting
purposes, as applicable, in accordance with the approach previously established for defined benefit post-employment plans, with the exception
that all past service costs and actuarial gains and losses are recognized immediately (<B>note 21</B>).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>y)
Termination benefits</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Termination benefits are recognized when
a detailed formal plan, identifying the fundamental changes to be implemented, is in place. Recognition occurs provided that the implementation
of the plan has commenced, its key features have been publicly announced, or objective facts concerning its implementation have been
disclosed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>z) Corporate Income Tax
(IRPJ), Social Contribution on Net Profit (CSLL), Social Integration Program (PIS), and Contribution for the Financing of Social Security
(COFINS)</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The income tax expense is derived from
the sum of Income Tax, Social Contribution, PIS, and COFINS. The current Income Tax and Social Contribution are determined by applying
their respective rates to taxable income, while the rates for PIS and COFINS are applied to their specific calculation bases as defined
in the relevant legislation. This calculation also includes adjustments for changes in deferred tax assets and liabilities as recognized
in the consolidated income statement. For income tax expenses resulting from transactions directly recognized in equity, the corresponding
tax effect is likewise recognized in equity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Corporate Income Tax (IRPJ) liability
is calculated at a rate of 15%, plus an additional 10%, applied to the profit after making the adjustments required by tax legislation.
The Social Contribution on Net Profit (CSLL) is calculated at a rate of 15% for financial institutions, private insurance companies, and
capitalization entities, and 9% for other businesses, levied on the profit after the adjustments required by tax legislation have been
considered.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Social Contribution on Net Income (CSLL)
rate for all banks, financial institutions, private insurance companies, and capitalization entities (businesses operating within the
financial sector) was increased by 1% for the base period from August 1, 2022 to December 1, 2022, as stipulated by Provisional Measure
No. 1,115/2022.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Social Integration Program (PIS) and
the Contribution for the Financing of Social Security (COFINS) are calculated at a combined rate of 4.65% on certain gross revenues and
expenses. Financial institutions are allowed to deduct specific financial expenses when calculating the tax base for PIS and COFINS. PIS
and COFINS are recognized as components of profit (net of certain income and expenses); thus, in accordance with IAS 12, they are accounted
for as income tax.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Tax Assets and Liabilities (excluding provisions
for taxes) classified as &#34;Current&#34; are tax amounts to be recovered and tax amounts payable over the coming 12 months.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Deferred tax assets and liabilities of
IR and CS comprise temporary differences, identified as the amounts expected to be paid or recovered arising from differences between
the carrying amounts of assets and liabilities and their respective tax bases, as well as accumulated tax credits and losses. These amounts
are measured at the tax rates expected to be applied in the period when the asset is realized or the liability is settled, and are reassessed
at each balance sheet date.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Deferred tax assets are recognized only
to the extent that it is probable that the consolidated entities will generate sufficient future taxable profits against which these deferred
tax assets can be utilized. Furthermore, deferred tax assets must not arise from the initial recognition (except in the context of a business
combination) of other assets and liabilities in transactions that do not impact either the actual profit or the accounting profit. Other
deferred tax assets, such as tax credits and accumulated tax losses, are only recognized if it is considered probable that the consolidated
entities will have sufficient future taxable profits against which they can be utilized.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Income and expenses directly recognized
in equity are accounted for as temporary differences.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank's expectation for the realization
of deferred tax assets is based on future results projections and underpinned by a technical study, as detailed in <B>note 23</B>.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>aa) Consolidated statement
of cash flows</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The terms outlined below are employed in
the Consolidated Statement of Cash Flows with the respective meanings:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Cash flows: inflows and outflows
of cash and cash equivalents, which are highly liquid financial investments subject to an insignificant risk of value changes and typically
have a maturity of approximately three months or less from the original acquisition date.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Operating activities: the principal
activities that generate revenue for financial institutions and other activities that are not related to financing or investment activities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Investing activities: the acquisition
and sale of long-term assets and other investments not included in cash and cash equivalents.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Financing activities: activities
that result in changes in the amount and composition of equity and liabilities that are not operating activities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">When preparing the consolidated statement
of cash flows, highly liquid financial investments with insignificant risk of changes in their values &#8203;&#8203;were classified as
&#8220;Cash and cash equivalents&#8221;. The Bank classifies as cash and cash equivalents the balances recorded in the items &#34;Cash
and reserves at the Central Bank of Brazil&#34; and &#34;Loans and other amounts with credit institutions&#34; in the consolidated
balance sheet, except for resources for restricted use and long-term operations term.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Interest paid and received corresponds
to Banco Santander's operating activities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 25.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_008"></FONT>3.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Basis for consolidation</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Highlighted below are both the direct and
indirect subsidiaries, as well as investment funds included in the Consolidated Financial Statements of Banco Santander. Similar information
regarding entities accounted for using the equity method by the Bank is provided in <B>note 11</B>.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.4pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of controlled entities and investment funds</FONT></TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: 4.35pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: rgb(89,89,89) 1pt solid; border-bottom: rgb(89,89,89) 1pt solid">&#160;</TD>
    <TD STYLE="border-top: rgb(89,89,89) 1pt solid; border-bottom: rgb(89,89,89) 1pt solid">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-top: rgb(89,89,89) 1pt solid; border-bottom: rgb(89,89,89) 1pt solid; padding: 1.9pt -1.3pt 1.5pt 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Number of Shares or Units Held (in Thousands)</B></FONT></TD>
    <TD STYLE="border-top: rgb(89,89,89) 1pt solid; border-bottom: rgb(89,89,89) 1pt solid">&#160;</TD>
    <TD STYLE="border-top: rgb(89,89,89) 1pt solid; border-bottom: rgb(89,89,89) 1pt solid; padding: 1.9pt -1.3pt 1.5pt 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>12/31/2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; width: 50%; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Investments</B></FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; width: 10%; padding-top: 1.4pt; padding-right: 4.35pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Business Segment</B></FONT></TD>
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    <TD STYLE="border-bottom: #595959 1pt solid; width: 10%; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Ownership Interest&#160;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Controlled by Banco Santander&#160;</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Aymor&#233; Cr&#233;dito, Financiamento e Investimento S.A.</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Financial</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">50,159</FONT></TD>
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    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #595959 1pt solid; border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Esfera Fidelidade S.A.</FONT></TD>
    <TD STYLE="border-top: #595959 1pt solid; border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Services Provision</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,001</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 8pt/8pt Calibri, Helvetica, Sans-Serif; margin: 1.15pt 0 0 4.35pt; color: #404040">Return Capital Gest&#227;o de Ativos
    e Participa&#231;&#245;es S.A. (New name for Gira, Gest&#227;o Integrada de Receb&#237;veis do Agroneg&#243;cio S.A.)</P>
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 1pt 4.35pt">&#160;</P></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt Collection and Credit Recovery Management</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">486,010</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Em
    Dia Servi&#231;os Especializados em Cobran&#231;a Ltda</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt Collection and Credit Recovery Management</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">257,306</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #595959 1pt solid; border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Rojo Entretenimento S.A.</FONT></TD>
    <TD STYLE="border-top: #595959 1pt solid; border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Service Provision</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,417</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">95.00%</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">95.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Sanb Promotora de Vendas e Cobran&#231;a Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Provision of Digital Media Services</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">71,181</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Sancap Investimentos e Participa&#231;&#245;es S.A. (Sancap)</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Holding</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,538,159</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Santander Brasil Administradora de Cons&#243;rcio Ltda. (Santander Brasil Cons&#243;rcio)</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Consortium</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">872,186</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Santander Corretora de C&#226;mbio e Valores Mobili&#225;rios S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Brokerage</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,067,640</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,067,640</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Santander Corretora de Seguros, Investimentos e Servi&#231;os S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Brokerage</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,184</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Santander Holding Imobili&#225;ria S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Holding</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">558,601</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Santander Leasing S.A. Arrendamento Mercantil (Santander Leasing)</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">164</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">F1RST Tecnologia e Inova&#231;&#227;o Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Provision of Technology Services&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">241,941</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">SX Neg&#243;cios Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Provision of Call Center Services</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">75,050</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Tools Solu&#231;&#245;es e Servi&#231;os Compartilhados LTDA</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Services Provision</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">192,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Subsidiaries of Aymor&#233; Credit, Financing and Investment S.A.</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Banco Hyundai Capital Brasil S.A.&#160;</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Bank</FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">50.00%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">50.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Solution 4Fleet Consultoria Empresarial S.A. </FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Tecnology</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Subsidiary of Santander Leasing</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Banco Bandepe S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Bank</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,589</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Santander Distribuidora de T&#237;tulos e Valores Mobili&#225;rios S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Securities Dealer</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">461</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Subsidiaries of Sancap&#160;</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Santander Capitaliza&#231;&#227;o S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Capitalization</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">64,615</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Evidence Previd&#234;ncia S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Pension</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42,819,564</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Subsidiary of Santander Corretora de Seguros</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Am&#233;rica
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    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Energy</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">653</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">70.00</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">70.00</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Fit
    Economia de Energia S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Energy
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">65.00</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Subsidiary of Santander Holding Imobili&#225;ria S.A.</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Summer Empreendimentos Ltda.</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Real Estate&#160;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,084</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #595959 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Subsidiary of Santander Distribuidora de T&#237;tulos e Valores Mobili&#225;rios S.A.</B></FONT></TD>
    <TD STYLE="border-top: #595959 1pt solid">&#160;</TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; background-color: white">&#160;</TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; background-color: white">&#160;</TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; background-color: white">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Toro Corretora de T&#237;tulos e de Valores Mobili&#225;rios Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Broker</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,559</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">59.64%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">59.64%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Toro Investimentos S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Investments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">44,101</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13.23%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13.23%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Subsidiary of Toro Corretora de T&#237;tulos e de Valores Mobili&#225;rios Ltda.</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Toro Investimentos S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Investments</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">289,362</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">86.77%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">86.77%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Jointly Controlled by Sancap&#160;</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Santander Auto S.A.</FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Technology</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
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    <TD>&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD>
    <TD STYLE="background-color: white">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify"><B>Consolidated Investment Funds</B></P>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Santander Fundo de Investimento
Amazonas Multimercado Cr&#233;dito Privado de Investimento no Exterior (Santander FI Amazonas); </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Santander Fundo de Investimento
Diamantina Multimercado Cr&#233;dito Privado de Investimento no Exterior (Santander FI Diamantina); </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Santander Fundo de Investimento
Guaruj&#225; Multimercado Cr&#233;dito Privado de Investimento no Exterior (Santander FI Guaruj&#225;); </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>


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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Santander Fundo de Investimento
SBAC Referenciado DI Cr&#233;dito Privado (Santander FI SBAC);</FONT></TD></TR></TABLE>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Santander Paraty QIF PLC (Santander
Paraty) (2); </FONT></TD></TR></TABLE>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Prime 16 &#8211; Fundo de Investimento
Imobili&#225;rio (current name of BRL V - Fundo de Investimento Imobili&#225;rio - FII) (1);</FONT></TD></TR></TABLE>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Santander FI Hedge Strategies
Fund (Santander FI Hedge Strategies) (2); </FONT></TD></TR></TABLE>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Fundo de Investimento em Direitos
Credit&#243;rios Multisegmentos NPL Ipanema VI - N&#227;o Padronizado (Fundo Investimento Ipanema NPL VI) (3); </FONT></TD></TR></TABLE>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Santander Hermes Multimercado
Cr&#233;dito Privado Infraestrutura Fundo de Investimentos;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Fundo de Investimentos em Direitos
Credit&#243;rios Atacado &#8211; N&#227;o Padronizado (3);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Atual - Fundo de Investimento
Multimercado Cr&#233;dito Privado Investimento no Exterior;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Fundo de Investimentos em Direitos
Credit&#243;rios &#8211; Getnet;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Agro Flex Fundo de Investimento
em Direitos Credit&#243;rios (3);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">San Cr&#233;ditos Estruturados
&#8211; Fundo de Investimento em Direitos Credit&#243;rios N&#227;o Padronizado (3); </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">D365 &#8211; Fundo De Investimento
em Direitos Credit&#243;rios (3); </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Fundo de Investimento em Direitos
Credit&#243;rios Tellus (3); </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Fundo de Investimento em Direitos
Credit&#243;rios Precato IV (3); </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Santander Hera Renda Fixa Fundo
Incentivado de Investimento em Infraestrutura Responsabilidade Limitada;</FONT></TD></TR></TABLE>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Ararinha Fundo de Investimento
em Renda Fixa Longo Prazo; and</FONT></TD></TR></TABLE>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Hyundai Fundo de Investimento
em Direitos Credit&#243;rios.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco Santander was listed as
a creditor in certain overdue credit transactions that had real estate as collateral. The operation to recover these credits consisted
of contributing the real estate as collateral to the capital of the Real Estate Investment Fund and subsequently transferring the Fund's
shares to Banco Santander, through payment in kind for the aforementioned credit transactions.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco Santander, through its
subsidiaries, holds the risks and benefits of Santander Paraty and its exclusive fund Santander FI Hedge Strategies, resident in Ireland,
and both are fully consolidated in its Consolidated Financial Statements. Santander Paraty does not have its own equity position, and
all records originate from the financial position of Santander FI Hedge Strategies.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Fund controlled by</FONT> <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Return
Capital Gest&#227;o de Ativos e Participa&#231;&#245;es S.A.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Corporate actions have been undertaken
to reorganize the operations and activities of the entities in accordance with the business plan of the Santander Conglomerate.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

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<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>a)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Incorporation
of Return Capital S.A. by Return Capital Gest&#227;o de Ativos e Participa&#231;&#245;es S.A.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On September 30, 2024, Return Capital
S.A. (&#8220;Return Capital&#8221;) was fully incorporated by Return Capital Gest&#227;o de Ativos e Participa&#231;&#245;es S.A. (new
name of Gira, Gest&#227;o Integrada de Receb&#237;veis do Agroneg&#243;cio S.A.) (&#8220;Return Participa&#231;&#245;es&#8221;). The
incorporation resulted in an increase in the share capital of Return Participa&#231;&#245;es, in the amount of R$8,540,942,366.72 (eight
billion, five hundred and forty million, nine hundred and forty-two thousand, three hundred and sixty-six reais and seventy-two centavos),
through the issuance of 439,224,359 (four hundred and thirty-nine million, two hundred and twenty-four thousand, three hundred and fifty-nine)
new common shares. As a result of the incorporation, Return Capital was extinguished by operation of law, being succeeded by Return Participa&#231;&#245;es
in all its rights and obligations.</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>b)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Incorporation
of Mobills Labs Solu&#231;&#245;es Em Tecnologia Ltda by Toro Investimentos S.A.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On June 30, 2024, Mobills Labs Solu&#231;&#245;es
em Tecnologia Ltda. (&#8220;Mobills Labs&#8221;) was fully incorporated and its equity was absorbed by its direct parent company, Toro
Investimentos S.A. (&#8220;Toro Investimentos&#8221;), in accordance with the conditions established in the Protocol and Justification
of the transaction. The implementation of the full incorporation of Mobills Labs did not imply an increase in the share capital of Toro
Investimentos, since all of the shares issued by Mobills Labs were held by Toro Investimentos and, therefore, already reflected in the
investment account by equivalence.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>




<!-- Field: Page; Sequence: 39 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
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    <!-- Field: /Page -->
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<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>c)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Incorporation
of Ap&#234;11 Tecnologia e Neg&#243;cios Imobili&#225;rios S.A. by Santander Holding Imobili&#225;ria S.A</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On June 28, 2024, Ap&#234;11 Tecnologia
e Neg&#243;cios Imobili&#225;rios S.A. (&#8220;Ap&#234;11&#8221;) was fully incorporated, with its assets absorbed by its direct
parent company, Santander Holding Imobili&#225;ria S.A. (&#8220;SHI&#8221;), in accordance with the conditions established in the Protocol
and Justification of the transaction. The implementation of the full incorporation of Ap&#234;11 did not imply an increase in SHI&#8217;s
share capital, since all of Ap&#234;11&#8217;s shares were held by SHI and, therefore, were already reflected in its equity investment
account.</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On December 22, 2023, Santander Holding
Imobili&#225;ria S.A. (&#8220;SHI&#8221;), a wholly-owned subsidiary of Banco Santander (Brasil) S.A., entered into, together with the
shareholders of Ap&#234;11 Tecnologia e Neg&#243;cios Imobili&#225;rios S.A. (&#8220;Ap&#234;11&#8221;), a certain Share Purchase
and Sale Agreement to acquire the remaining 10% of the share capital of Ap&#234;11 (&#8220;Transaction&#8221;). As a result of the Transaction,
SHI now holds 100% of the share capital of Ap&#234;11.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>d)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Partnership
between Banco Santander (Brasil) S.A. and Pluxee International and Pluxee Pay Brasil Ltda.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On June 27, 2024, following the completion
of the conditions precedent of the transaction announced on July 24, 2023, Banco Santander (Brasil) S.A. concluded the establishment of
a partnership with the Pluxee Group (previously called Sodexo).</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The economic rationale of the transaction
is essentially based on: (i) the synergies arising from the combination of the businesses of Pluxee Institui&#231;&#227;o de Pagamento
Brasil S.A. (current name of &#8220;Ben Benef&#237;cios e Servi&#231;os Institui&#231;&#227;o de Pagamentos S.A&#8221;) with the
Pluxee Group in Brazil and (ii) the company's ability to explore Santander's customer base to offer its products and services (i.e. the
capillarity of Santander's counter).</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For the formation of the partnership,
Banco Santander contributed the amount equivalent to R$2,044&#160;million attributed: (i) to its investment in its benefits subsidiary,
Pluxee Institui&#231;&#227;o de Pagamento Brasil S.A. (current name of &#8220;Ben Benef&#237;cios e Servi&#231;os Institui&#231;&#227;o
de Pagamentos S.A&#8221;); (ii) to a portion of cash resources; (iii) to the exclusivity agreement for the exploration of its customer
base.</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As a result of the transaction, Banco
Santander and Grupo Pluxee now hold 20% and 80% stakes, respectively, in the share capital of Pluxee Benef&#237;cios Brasil S.A. (&#8220;Pluxee&#8221;),
the partnership investment vehicle.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>e)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Incorporation of Mobills
Corretora de Seguros Ltda. by Toro Asset Management S.A.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On May 31, 2024, Mobills Corretora de Seguros
Ltda. (&#8220;Mobills Corretora&#8221;) was fully incorporated and its equity was absorbed by its direct parent company, Toro Asset Management
S.A. (&#8220;Toro Asset&#8221;), in accordance with the conditions established in the Protocol and Justification of the transaction. The
implementation of the full incorporation of Mobills Corretora did not imply an increase in Toro Asset&#8217;s share capital, since all
of Mobills Corretra&#8217;s shares were held by Toro Asset and, therefore, already reflected in an investment account by equivalence.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>f)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Acquisition
of the remaining portion of Return Capital Gest&#227;o de Ativos e Participa&#231;&#245;es S.A. (new name of Gira, Gest&#227;o
Integrada de Receb&#237;veis do Agroneg&#243;cio S.A.) by Return Capital S.A.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On May 17, 2024, Return Capital S.A.
(&#8220;Return&#8221;), a wholly-owned subsidiary of Banco Santander (Brasil) S.A., entered into a Share Purchase and Sale Agreement
with the minority shareholders of Return Capital Gest&#227;o de Ativos e Participa&#231;&#245;es S.A. (new name of Gira, Gest&#227;o
Integrada de Receb&#237;veis do Agroneg&#243;cio S.A.) (&#8220;Gira&#8221;) to acquire the 20% of Gira&#8217;s share capital held
by the minority shareholders (&#8220;Transaction&#8221;). As a result of the Transaction, Banco Santander (Brasil) S.A. indirectly held
100% of Gira&#8217;s share capital.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>g)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Acquisition
of stake and investment in Am&#233;rica Gest&#227;o Servi&#231;os em Energia S.A.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On March 12, 2024, Santander Corretora
de Seguros, Investimentos e Servi&#231;os S.A. (&#8220;Santander Corretora&#8221;) formalized, together with the shareholders of Am&#233;rica
Gest&#227;o Servi&#231;os em Energia S.A. (&#8220;Am&#233;rica Energia&#8221;), a Share Purchase and Sale Agreement and Other Covenants
with a view to acquiring 70% of the total and voting share capital of Am&#233;rica Energia (&#8220;Transaction&#8221;). The completion
of the Transaction was subject to the fulfillment of certain usual suspensive conditions in similar transactions, including obtaining
the relevant regulatory authorizations. On July 4, 2024, with the completion of the Transaction, Santander Corretora came to hold 70%
of the share capital of Am&#233;rica Energia.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>h)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Acquisition
of stake and investment in Fit Economia de Energia S.A.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On March 6, 2024, Santander Corretora
de Seguros, Investimentos e Servi&#231;os S.A. concluded, in compliance with the applicable precedent conditions, the transaction for
acquisition and investment in Fit Economia de Energia S.A. (&#8220;Company&#8221;), so that it now holds 65% of the Company's share capital
(&#8220;Transaction&#8221;).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>i)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Acquisition
of the entire shareholding in Toro Participa&#231;&#245;es S.A. and incorporation by Toro Corretora de T&#237;tulos e Valores Mobili&#225;rios
S.A.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">On January 3, 2024, after fulfilling
the conditions precedent, Banco Santander concluded the transaction to acquire all of the shares of Toro Participa&#231;&#245;es,
so that it indirectly hold 100% of the share capital of Toro Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A. and Toro Investimentos
S.A. On February 29, 2024, the incorporation of Toro Participa&#231;&#245;es S.A. by Toro Corretora de T&#237;tulos e Valores Mobili&#225;rios
S.A. was approved.</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 40 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>j)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Total incorporation
of Mob Solu&#231;&#245;es em Tecnologia Ltda. by Mobills Labs Solu&#231;&#245;es em Tecnologia Ltda.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On October 31, 2023, Mob Solu&#231;&#245;es
em Tecnologia Ltda. (&#8220;Mob&#8221;) was fully incorporated and its equity was absorbed by its direct parent company, Mobills Labs
Solu&#231;&#245;es em Tecnologia Ltda. (&#8220;Mobills&#8221;), in accordance with the conditions established in the Protocol and
Justification of the transaction. The implementation of the full incorporation of Mob did not imply an increase in Mobills share capital,
since all of Mob&#8217;s shares were held by Mobills and, therefore, already reflected in the equity investment account.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>k)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Sale of the
entire stake held in Banco PSA Finance Brasil S.A. and Stellantis Corretora de Seguros e Servi&#231;os Ltda.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On August 31, 2023, Aymor&#233; Cr&#233;dito,
Financiamento e Investimento S.A. (&#8220;Aymor&#233;&#8221;) and Santander Corretora de Seguros, Investimentos e Servi&#231;os S.A.
(&#8220;Santander Corretora de Seguros&#8221;) concluded the transaction for the sale of equity interests held (a) by Aymor&#233;, representing
50% (fifty percent) of the share capital of Banco PSA Finance Brasil S.A. (&#8220;Banco PSA&#8221;), to Stellantis Financial Service,
S.A. and (b) by Santander Corretora de Seguros, representing 50% (fifty percent) of the share capital of Stellantis Corretora de Seguros
e Servi&#231;os Ltda. (&#8220;Stellantis Corretora&#8221;), to Stellantis Services Ltda. (&#8220;Transaction&#8221;).</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">With the conclusion of the Transaction,
Aymor&#233; ceased to hold an equity interest in Banco PSA and Santander Corretora de Seguros ceased to hold an equity interest in Stellantis
Corretora.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>l)</B></FONT></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Safe of a portion
of Santander Corretora in Webmotors S.A. to Carsales.com Investments PTY LTD.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On April 28, 2023, Santander Corretora
de Seguros, Investimentos e Servi&#231;os S.A. (&#8220;Santander Corretora&#8221;) concluded the sale of shares representing 40% of
the share capital of Webmotors S.A. (&#8220;Webmotors&#8221;) to Carsales.com Investments PTY LTD (&#8220;Carsales&#8221;) (&#8220;Transaction&#8221;).
With the conclusion of the Transaction, Santander Corretora became the holder of 30% and Carsales of 70% of the share capital of Webmotors.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_009"></FONT>4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Cash and cash equivalents</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of cash and balances</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Cash</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,639,280</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,770,483</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,001,885</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Cash and Cash Equivalents and Investments in Foreign Currency Overseas&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,444,974</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,352,067</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,001,554</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Repurchase Agreements&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">28,103,405</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">65,766,340</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,344,519</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Investments in Interbank Deposit Certificates (CDI)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,013,246</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">528,870</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">217,376</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>67,200,905</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>89,417,760</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>49,565,334</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">Information related to December 31, 2022, are presented to inform the composition of the opening balances of Cash
and Cash Equivalents presented in the Consolidated Statement of Cash Flows.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_010"></FONT>5.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Loans and other receivables
from credit institutions</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown, by classification, type,
and currency, of the balances under the &#34;Loans and Other Receivables from Credit Institutions&#34; line item in the consolidated
balance sheets is as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of consolidated financial statements</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Classification:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial assets measured at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">30,177,627</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,716,845</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;&#160;&#160;&#160;Loans and other receivables from credit institutions at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">30,179,048</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,724,609</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;&#160;&#160;&#160;Provision for impairment losses (note 9.c)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,421)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,764)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loans and other receivables from credit institutions, net</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>30,177,627</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>25,716,845</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loans and other receivables from credit institutions, gross</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>30,179,048</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>25,724,609</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Type:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Time deposit investments&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,667,515</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,337,746</FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Repurchase agreements&#160;&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,032,113</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,980,557</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Judicial deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,356,984</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,730,571</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other accounts</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">122,436</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,675,735</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>30,179,048</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>25,724,609</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">(1)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Secured by debt instruments</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<!-- Field: Page; Sequence: 41 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of loans and amounts due from credit institutions currency</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Currency:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Brazilian Real</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,299,731</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,885,181</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">U.S. Dollar</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,235,826</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">775,000</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Euro</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">643,491</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,064,428</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>30,179,048</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>25,724,609</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<P STYLE="font: 7pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt"><B>Note 43-d</B> provides details on the residual maturity periods
of financial assets measured at amortized cost.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_011"></FONT>6.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Debt instruments</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown, by classification, type,
and currency, of the balances within the &#8220;Debt Instruments&#8221; line item is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of debt instrument</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Classification:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Assets Measured at Fair Value Through Profit or Loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">107,585,055</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">84,291,192</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Assets Measured at Fair Value through Other Comprehensive Income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">92,058,907</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">59,036,137</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Assets Measured at Amortized Cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">84,529,222</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">101,087,321</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;Comprising:</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments at Amortized Cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">86,598,778</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">102,673,487</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Provision for impairment losses&#160;&#160;(note 9.c)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,069,556)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,586,166)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>284,173,184</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>244,414,650</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Type:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Government securities - Brazil&#160;&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">190,643,118</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">148,750,440</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debentures and promissory notes</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">70,450,135</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,083,296</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other debt securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,079,931</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">46,580,914</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>284,173,184</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>244,414,650</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>These primarily refer to National Treasury Bills (LTN), Treasury Financial Bills (LFT), and
National Treasury Notes (NTN-A, NTN-B, NTN-C, and NTN-F).</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Debt Instruments primarily consist
of:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of debt instruments are primarily consist</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Currency:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Brazilian Real</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">262,560,537</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">227,117,943</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">U.S. Dollar</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,541,153</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,748,652</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Mexican Peso</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,071,494</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,548,055</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>284,173,184</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>244,414,650</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of debt instrument linked
    to</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Debt Instruments linked to:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Repurchase Agreements</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">84,894,642</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">61,802,969</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Operations guarantees in B3 S.A. - Brasil, Bolsa, Balc&#227;o (B3 S.A.)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,083,244</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,924,556</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Linked to judicial deposits and other guarantees</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,736,275</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,283,802</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>119,714,161</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>97,011,327</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Note 43-d</B> provides details on the
residual maturity periods of financial assets measured at fair value through Other Comprehensive Income and financial assets measured
at amortized cost.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<!-- Field: Page; Sequence: 42 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 5pt 0 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_012"></FONT>7.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Equity instruments</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"></FONT></B></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>a)
Breakdown</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown, by classification and type,
of the balances in the &#34;Equity Instruments&#34; line item is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of breakdown, by classification and type, of the balances of equity
instruments</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: red 1pt solid; vertical-align: bottom; width: 70%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; vertical-align: top; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; vertical-align: top; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Classification:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Assets Measured at Fair Value Through Profit or Loss&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,968,823</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,422,154</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Assets Measured at Fair Value Through Other Comprehensive Income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,633</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,953</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,988,456</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,438,107</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Type:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Shares of domestic companies</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,048,007</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,955,931</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Shares of foreign companies</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">54,886</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">99,424</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Investment funds (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">885,563</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,382,752</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,988,456</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,438,107</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/120% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Primarily composed of investments
in fixed income assets and both government and private securities.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Changes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The changes in the balances of the line
item &#34;Equity Instruments - Financial Assets Measured at Fair Value through Profit or Loss&#34; were as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of changes in financial assets
    measured at fair value through profit or loss held for trading</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: red 1pt solid; vertical-align: bottom; width: 70%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; vertical-align: top; width: 10%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; vertical-align: top; width: 10%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; vertical-align: top; width: 10%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,422,154</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,605,279</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,498,317</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions/Disposals (Net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(453,331)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">816,875</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">106,962</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,968,823</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,422,154</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,605,279</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The changes in the balances of the line
item &#34;Equity Instruments - Financial Assets Measured at Fair Value through Other Comprehensive Income&#34; were as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of changes in financial assets measured at fair value through other comprehensive income</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: red 1pt solid; vertical-align: bottom; width: 70%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; vertical-align: top; width: 10%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; vertical-align: top; width: 10%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; vertical-align: top; width: 10%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>15,953</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>33,493</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>29,187</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions/Disposals (Net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,680</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(17,540)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,306</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,633</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>15,953</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>33,493</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 1pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 43 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 19pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_013"></FONT>8.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Derivative financial instruments</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The primary risk factors associated with
the derivative instruments undertaken relate to exchange rates, interest rates, and equity income. In managing these and other market
risk factors, the Bank employs practices that encompass the measurement and monitoring of the utilization of limits previously established
by internal committees, the portfolios' value at risk, sensitivities to interest rate fluctuations, foreign exchange exposure, liquidity
gaps, among other practices that enable the control and monitoring of risks, which could potentially impact Banco Santander's positions
across the various markets in which it operates. Based on this management model, the Bank has been able to optimize the risk-reward ratio,
even amidst conditions of significant volatility, through the use of operations involving derivative instruments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The fair value of derivative financial
instruments is determined using market price quotations when available. The fair value of swaps is calculated through discounted cash
flow modeling techniques, reflecting appropriate risk factors. The fair value of forward and futures contracts is also determined based
on market price quotations for exchange-traded derivatives or employing methodologies similar to those used for swaps. The fair value
of options is calculated using mathematical models, such as the Black-Scholes model, implied volatilities, and the fair value of the
corresponding asset. Current market prices are utilized to determine volatilities. For derivatives that do not have prices directly disclosed
by exchanges, the fair value is ascertained through pricing models that leverage market information, inferred from the disclosed prices
of more liquid assets. This process involves extracting interest rate curves and market volatilities from these prices, which are then
used as input data for the models.</P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; color: red"><B>a)
Derivative Financial Instruments</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a.1) Derivative Financial Instruments
Recorded in the Off-Balance Sheet and Equity Accounts.</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Overview of Trading and Hedging Derivatives
Portfolio</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of trading derivative and used as hedge</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 78%; padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 11%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 11%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Swap Differential Receivables</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,710,659</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,360,719</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Premiums on Unexercised Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,960,933</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,635,506</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Forward Contracts and Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,534,707</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,298,496</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>40,206,299</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>29,294,721</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt; text-align: center">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Swap Differential Payables</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,746,167</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,226,716</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Premiums on Issued Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,455,074</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,685,361</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Forward Contracts and Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,209,033</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,028,351</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,410,274</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>24,940,428</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 8pt 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 44 -->
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<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
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    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Trading</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2.65pt 0 0; text-align: right; color: #292929"><B>Notional </B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: right; color: #292929"><B>Value (1)</B></P></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Curve Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Fair Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt">
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Curve Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Fair Value</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Swap</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>858,277,413</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(5,247,457)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(35,508)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>811,921,798</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(1,927,124)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(865,997)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>421,892,846</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>11,989,199</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>16,710,659</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>402,812,781</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>9,193,215</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>12,360,719</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Interest Rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">212,769,602</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">8,288,494</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">9,155,516</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">188,604,258</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">5,054,833</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">6,383,261</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Foreign Currency</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">207,863,441</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">3,593,516</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">7,449,012</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">212,970,458</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">4,136,463</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">5,977,193</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">107,189</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">106,131</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,238,065</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,919</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">265</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>436,384,567</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(17,236,656)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(16,746,167)</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(11,120,339)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(13,226,716)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Interest Rates&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">300,101,297</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(13,645,096)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(13,848,265)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">262,437,458</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(9,117,639)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(9,680,343)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Foreign Currency</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">133,470,413</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(3,588,425)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(2,726,684)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">143,788,702</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,907,489)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(3,332,851)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2,812,857</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(3,135)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(171,218)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2,882,857</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(95,211)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(213,522)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Options</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>538,580,487</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(1,728,092)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>505,859</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>857,662,210</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(1,112,873)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(49,854)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Purchase Commitments</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>248,136,848</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>2,889,580</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>4,960,933</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>419,095,673</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>2,252,815</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>2,635,507</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Foreign Currency Call Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">17,652,929</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,170,432</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2,035,002</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">7,711,827</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">497,534</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">426,074</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Foreign Currency Put Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">10,969,754</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">449,432</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">297,814</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">5,326,447</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">408,144</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">489,785</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Call Options&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>25,078,274</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>769,593</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>2,530,004</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>89,142,771</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>661,537</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>1,183,085</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Interbank Market</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">4,228,408</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">420,720</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,456,616</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">3,729,452</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">217,219</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">265,824</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%">Others&#160;</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; color: #292929; line-height: 120%"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">20,849,866</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">348,873</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,073,388</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">85,413,319</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">444,318</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">917,261</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Put Option - Other</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>194,435,891</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>500,123</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>98,113</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>316,914,628</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>685,600</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>536,563</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Interbank Market</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">553,161</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">111,802</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">80,262</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">543,157</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">46,852</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">30,439</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%">Other&#160;</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; color: #292929; line-height: 120%"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">193,882,730</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">388,321</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">17,851</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">316,371,471</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">638,748</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">506,124</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Sale Commitments</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>290,443,639</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(4,617,672)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(4,455,074)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>438,566,536</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(3,365,688)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(2,685,360)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Foreign Currency Call Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">10,516,526</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(597,168)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(786,706)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">3,453,152</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(288,349)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(466,324)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Foreign Currency Put Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">11,046,513</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(555,932)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(275,212)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">4,642,411</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(288,799)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(431,952)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Call Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>57,500,051</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(2,868,865)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(3,203,477)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>113,106,162</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(2,029,925)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(999,258)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Interbank Market</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">21,145,788</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(2,104,995)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,578,796)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">17,295,280</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,479,724)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(710,121)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%">Other&#160;</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; color: #292929; line-height: 120%"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">36,354,263</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(763,870)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(1,624,681)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">95,810,882</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(550,201)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">(289,137)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Put Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>211,380,549</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(595,707)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(189,679)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>317,364,811</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(758,615)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>(787,826)</B></FONT></TD></TR>

  <TR>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom; width: 40%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Interbank Market</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,395,691</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(155,776)</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(29,908)</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">370,221</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(24,912)</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(23,004)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%">Other&#160;</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; color: #292929; line-height: 120%"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">209,984,858</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(439,931)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(159,771)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">316,994,590</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(733,703)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(764,822)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Futures Contracts</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>785,337,224</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>325,170,915</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Long Position</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>396,239,839</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>164,682,752</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exchange Coupon (DDI)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">143,814,584</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41,331,942</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest Rates (DI1 and DIA)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">135,768,788</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48,254,715</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Foreign Currency</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">106,481,787</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">68,838,058</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%">Indexes&#160;</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; color: #292929; line-height: 120%"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,717,797</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,269,712</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,456,883</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">988,325</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Short Position</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>389,097,385</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>160,488,163</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exchange Coupon (DDI)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">143,814,584</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41,331,942</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest Rate (DI1 and DIA)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">138,131,331</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48,339,061</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Foreign Currency</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">96,976,790</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">64,559,123</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%">Index&#160;</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; color: #292929; line-height: 120%"><SUP>(3)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,717,797</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,269,712</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Treasury Bonds/Notes</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,456,883</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">988,325</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Forward Contracts and Others</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>443,722,256</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,675,015</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>325,674</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>331,009,278</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,288,881</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,270,145</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Purchase Commitments</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>226,379,907</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,065,871</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>18,534,707</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>167,191,253</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>17,249,113</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>14,298,496</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Currencies</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">176,481,430</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,649,383</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,617,536</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">134,610,617</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,042,331</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,932,719</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,898,477</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,416,488</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,917,171</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">32,580,636</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">206,782</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,365,777</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Sale Commitments</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>217,342,349</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(6,390,856)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(18,209,033)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>163,818,025</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(13,960,232)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(9,028,351)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Currencies</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">177,766,056</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,934,009)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,151,264)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">130,779,288</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(13,211,003)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,766,190)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,576,293</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(456,847)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(12,057,769)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,038,737</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(749,229)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,262,161)</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Adjusted nominal value of the contracts minal value of updated contracts.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>Includes index options, primarily options related to U.S. Treasury, stocks, and stock indices.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(3)</TD><TD STYLE="width: 5pt"></TD><TD>Includes Bovespa and S&amp;P indices.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 45 -->
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<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a.2) Derivatives Financial Instruments
by Counterparty</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="display: none">Schedule of derivatives financial instrument by counterparty</FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 52%; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Notional</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Related</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Financial</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Customers</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Parties</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; text-align: right; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%"><B>Institutions&#160;(1)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><I>Swap</I></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">248,822,684</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">408,569,543</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">200,885,186</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">858,277,413</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">72,193,642</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,707,652</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">458,679,193</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">538,580,487</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Futures Contracts</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,890,950</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,628,688</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">767,817,586</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">785,337,224</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Forward Contracts and Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">180,609,297</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">193,284,055</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">69,828,904</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">443,722,256</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD><P STYLE="font: 8pt Calibri,sans-serif; margin: 0">Includes transactions that have as counterparty B3 S.A. - Brasil, Bolsa, Balc&#227;o
(B3) and other stock and commodities exchanges.</P></TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 52%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Notional</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Related</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Financial</B></FONT></TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Customers</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>&#160;Parties</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt; text-align: right; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%"><B>Institutions&#160;</B></FONT><B><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; color: #292929; line-height: 120%"><SUP>(1)</SUP></FONT></B></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Swap</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">185,745,740</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">224,140,567</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">402,035,491</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">811,921,798</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,900,600</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,114,539</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">817,647,071</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">857,662,210</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Futures Contracts</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,280,965</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">315,889,950</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">325,170,915</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Forward Contracts and Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">152,776,820</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">118,459,171</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">59,773,287</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">331,009,278</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Includes transactions that have as counterparty B3 S.A. - Brasil, Bolsa, Balc&#227;o (B3) and other stock and commodities exchanges.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a.3) Derivatives Financial Instruments
by Maturity</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of derivatives financial instrument by maturity</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 52%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Notional</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Up to</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>From 3 to</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Over&#160;</B></FONT></TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>&#160;3 Months</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>12 Months</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>12 Months</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Swap</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">118,831,333</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">142,493,857</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">596,952,223</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">858,277,413</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Options</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">80,264,346</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">375,497,526</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">82,818,615</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">538,580,487</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Futures Contracts</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">415,684,910</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">197,209,979</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">172,442,335</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">785,337,224</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Forward Contracts and Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">273,869,288</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">104,483,252</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">65,369,716</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">443,722,256</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<!-- Field: Page; Sequence: 46 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 52%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Notional</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Up to</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>From 3 to</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Over&#160;</B></FONT></TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>&#160;3 Months</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>12 Months</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>12 Months</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Swap</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">148,297,616</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">146,064,207</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">517,559,975</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">811,921,798</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Options</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">695,558,723</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">110,627,263</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">51,476,224</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">857,662,210</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Futures Contracts</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">168,364,771</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">70,492,546</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">86,313,598</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">325,170,915</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Forward Contracts and Others</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">187,900,674</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">90,382,978</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">52,725,626</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">331,009,278</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a.4) Derivative Financial Instruments
by Trading Market</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of derivatives by market trading</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="background-color: white; padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="background-color: white; padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: red 1pt solid; vertical-align: bottom; width: 70%; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Notional</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; padding: 1.15pt 2.65pt 1pt; vertical-align: bottom; width: 10%; text-align: center; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%"><B>Stock Exchanges&#160;<SUP>(1)</SUP></B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; padding: 1.15pt 2.65pt 1pt; vertical-align: bottom; width: 10%; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Over-the-Counter Market</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; background-color: white; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Swap</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">167,924,413</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">690,353,000</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">858,277,413</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Options</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">415,336,707</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">123,243,780</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">538,580,487</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Futures Contracts</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">781,708,536</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,628,688</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">785,337,224</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Forward Contracts and Others</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">55,754,746</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">387,967,510</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">443,722,256</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Includes trades with B3 S.A.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" SUMMARY="xdx: Disclosure - Derivative financial instruments (Details 4)" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: red 1pt solid; vertical-align: bottom; width: 70%; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Notional</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; padding: 1.15pt 2.65pt 1pt; vertical-align: bottom; text-align: center; line-height: 120%; width: 10%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%"><B>Stock Exchanges&#160;<SUP>(1)</SUP></B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; padding: 1.15pt 2.65pt 1pt; vertical-align: bottom; text-align: center; width: 10%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Over-the-Counter Market</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; background-color: white; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Swap</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">93,891,621</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">718,030,177</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">811,921,798</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Options</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">782,343,569</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">75,318,641</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">857,662,210</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Futures Contracts</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">325,170,915</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">325,170,915</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Forward Contracts and Others</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">28,054,581</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">302,954,697</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: white; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">331,009,278</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Includes trades with B3 S.A.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 47 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a.5) Information on Credit Derivatives</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander uses credit derivatives
with the objectives of performing counterparty risk management and meeting its customers' demands, performing protection purchase and
sale transactions through credit default swaps and total return swaps, primarily related to Brazilian sovereign risk securities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Total <I>Return Swaps</I> &#8211; TRS</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">These are credit derivatives in which
the return from the reference obligation is exchanged for a cash flow, and where upon the occurrence of a credit event, the protection
buyer typically has the right to receive from the protection seller the equivalent of the difference between the updated value and the
fair value (fair value) of the benchmark obligation at the contract's settlement date.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><I>Credit Default Swaps</I> &#8211;
CDS</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">These are credit derivatives where, upon
the occurrence of a credit event, the protection buyer is entitled to receive from the protection seller an amount equal to the difference
between the face value of the CDS contract and the fair value (fair value) of the benchmark obligation at the settlement date of the
contract. In exchange, the seller receives a fee for providing the protection.</P>

<P STYLE="font: 9pt/130% Calibri,sans-serif; margin: 0 0 5pt; text-align: justify">Below, the composition of the Credit Derivatives portfolio
shown by its reference value.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of shareholders' equity</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 52%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Nominal Value</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Nominal Value</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Nominal Value</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Nominal Value</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Retained Risk</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Transferred Risk -</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Retained Risk</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Transferred Risk -</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total Return Swap Rate</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Credit Swap</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total Return Swap Rate</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Credit Swap</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Credit Swaps</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,421,208</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,153,307</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,456,614</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,293,916</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,421,208</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>16,153,307</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,456,614</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,293,916</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 48 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">During the period, there were no credit
events associated with the precipitating factors specified in the contracts.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; text-align: justify"><FONT STYLE="display: none">Schedule of credit event related to triggering
    events</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 52%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #595959 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Over&#160;</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Over&#160;</B></FONT></TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Maximum Potential for Future Payments - Gross</B></FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>12 Months</B></FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>12 Months</B></FONT></TD>
    <TD STYLE="border-bottom: #595959 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Per Instrument</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">CDS</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,574,515</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,574,515</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,750,530</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,750,530</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>20,574,515</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>20,574,515</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,750,530</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,750,530</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>By Risk Rating</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Below Investment Grade</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,574,515</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,574,515</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,750,530</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,750,530</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>20,574,515</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>20,574,515</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,750,530</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,750,530</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>By Reference Entity</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Brazilian Government</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,574,515</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,574,515</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,750,530</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,750,530</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #595959 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>20,574,515</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>20,574,515</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,750,530</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,750,530</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify">a.6)
Accounting Hedge</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">There are three types of hedge accounting:
Fair Value Hedge, Cash Flow Hedge and Foreing Currency Investments Hedge.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The derivatives used as hedging instruments
are represented as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a.6.I ) Fair Value Hedge </B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank's fair value hedging strategy
involves mitigating exposure to fair value fluctuations, specifically regarding interest receipts and payments on recognized assets and
liabilities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The fair value management methodology adopted
by the Bank segregates transactions based on risk factors (e.g., BRL/USD exchange rate risk, fixed interest rate risk in BRL, USD exchange
rate coupon risk, inflation risk, interest risk, etc.). The transactions generate exposures that are consolidated by risk factor and compared
with pre-established internal thresholds.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To mitigate fluctuations in fair value
associated with the receipt and payment of interest, the Bank employs interest rate swap contracts concerning fixed-rate assets and liabilities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank utilizes fair value hedge in the
following manner:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Designates Foreign Currency Swaps
+ Coupon versus % CDI and Fixed BRL Interest Rate or contracts USD Futures (DOL, DDI/DI) as a derivative instrument in Hedge Accounting
structures, with foreign currency loan operations as the hedged item.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The Bank maintains an active loan
portfolio originated in fixed-rate U.S. Dollars at Santander EFC, whose transactions are recorded in Euros. To manage this currency mismatch,
the Bank designates a Foreign Currency Swap, exchanging Floating Euros for Fixed U.S. Dollars, as a hedge against market risk for the
corresponding loans.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The Bank is subject to a pre-fixed
interest rate risk stemming from Government Securities (NTN-F and LTN) held within its Financial Assets portfolio, which are measured
through Other Comprehensive Income. To manage this risk mismatch, the Bank enters into DI futures contracts on the exchange or engages
in interest rate swaps, designating these as derivative instruments within a Hedge Accounting structure.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The Bank is exposed to IPCA (broad
consumer price index) risk stemming from debentures within its available-for-sale securities portfolio. To manage this exposure, the Bank
enters into IPCA futures contracts (&#34;DAP&#34;) on the exchange and designates them as derivative instruments within a Hedge Accounting
structure.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To assess the effectiveness and measure
the ineffectiveness of hedging strategies, the Bank adheres to IAS 39, which mandates that an effectiveness test be conducted at the inception
(prospective test) of the hedge arrangement, and be periodically repeated (prospective and retrospective tests) to demonstrate that the
hedge relationship remains effective.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>a) Prospective test:</B> in accordance
with the standard, the prospective test is required at the inception date and quarterly thereafter to demonstrate that the expectation
of the hedge relationship's effectiveness is high. </P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>a.1) The initial prospective test (at
inception)</B>: this is limited to a qualitative review of the critical terms and conditions of both the hedging instrument and the hedged
item, with the aim of concluding that changes in the fair value of the two instruments are expected to completely offset one another.
</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>a.2) The prospective periodic test:</B>
the sensitivity of the present value of the hedged item and the hedging instrument to a parallel shift of 10 basis points in the interest
rate curve will be periodically assessed. For the purpose of assessing hedge effectiveness, the ratio of these two sensitivities must
fall within the range of 80% to 125%.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>b) Retrospective test:</B> the retrospective
effectiveness test will be conducted by comparing the mark-to-market (mtm) fluctuation of the hedging instrument from the inception date
with the mtm variation of the hedged item from the same date.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In fair value hedges, both gains and losses
on hedging instruments and on the hedged items (attributable to the type of risk being hedged) are recognized directly in the consolidated
statement of profit or loss.</P>


<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%"><FONT STYLE="display: none">Schedule of hedge instrument</FONT></TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Hedged&#160;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Hedge Instruments</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Items</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Curve</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Accounting</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Curve</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Accounting</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Strategies</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Fair value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Fair value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Swap Contracts</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>30,481</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>222,625</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>253,106</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,979</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>200,658</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>211,637</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loan Operations Hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">30,481</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">222,625</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">253,106</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,979</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">200,658</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">211,637</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Futures Contracts</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>160,951</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>43,416,076</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>43,577,027</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(222,149)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>38,332,070</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>38,109,921</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loan Operations Hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">156,408</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,238,024</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,394,432</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(54,560)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,017,522</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,962,962</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Securities Hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(142,206)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,344,183</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,201,977</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">213,204</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,504,539</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,717,743</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Funding Hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">146,749</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,429,216</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Hedged&#160;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Hedge Instruments</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Items</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Curve</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Accounting</B></FONT></TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Curve</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Accounting</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Strategies</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Fair value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Fair value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Swap Contracts</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>183,368</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>288,766</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>472,134</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>138,079</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>272,805</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>410,884</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loan Operations Hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">183,368</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">288,766</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">472,134</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">138,079</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">272,805</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">410,884</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Future Contracts</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>144,508</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>25,701,246</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>25,845,754</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(3,535,965)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>28,817,259</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>25,281,294</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loan Operations Hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,497,014</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,759,016</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,256,030</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,290,079)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,593,616</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,303,537</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Securities Hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,489,802)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,496,723</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,203,542</FONT></TD></TR>
  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(862,704)</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,582,803</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,869,635)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,643,850</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,774,215</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(*)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The Bank employs market risk hedging strategies, the targets of which are assets in its portfolio,
which is why we present the liabilities side of the respective instruments. For structures that have futures as instruments, we provide
the balance of the daily adjustment calculated, recorded in the off-balance sheet account.</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a.6.II) Cash Flow Hedge</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank's cash flow hedging strategies
consist of hedging against exposure to fluctuations in cash flows, interest payments, and currency exchange rates, which are attributable
to changes in interest rates affecting recognized assets and liabilities, as well as exchange rate fluctuations impacting unrecognized
assets and liabilities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank utilizes cash flow hedge in the
following manner:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The Bank engages in active swaps
indexed to fixed US Dollars and liabilities in foreign currency, designating these as hedging instruments within a Cash Flow Hedge structure,
where the hedged items are foreign currency loans negotiated with third parties via its offshore branches and Brazilian external debt
securities measured at amortized cost.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The Bank enters into Dollar Futures
or DDI + DI Futures (Synthetic Dollar Futures) contracts and designates them as hedging instruments within a Cash Flow Hedge structure,
where the hedged items are the Bank's portfolio of Dollar-denominated loans and Promissory Notes in the available-for-sale securities
portfolio measured at Fair Value Through Other Comprehensive Income.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 51 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; The Bank maintains a portfolio of
assets indexed to the Euro and traded in offshore branches. In the transaction, the value of the asset in Euros will be converted to Dollars
at the exchange rate specified in the foreign exchange contract for the transaction. After this conversion, the principal amount of the
transaction, now denominated in Dollars, will be adjusted by either a floating or a fixed rate. The assets will be hedged with a Cross-Currency
Swap to transfer the Euro risk to LIBOR + Coupon.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In March 2022, the U.S. Congress passed
the Adjustable Interest Rate Act (LIBOR) (&#34;the LIBOR Act&#34;). This legislation establishes a uniform, nationwide process for replacing
LIBOR in existing contracts that lack fallback clauses, automatically substituting LIBOR, on the LIBOR replacement date (expected to be
the first London banking business day after June 30, 2023), with the &#34;Board-selected Benchmark Replacement&#34;. In December 16,
2022, the Federal Reserve Board adopted a final rule implementing the LIBOR Act and identifying these benchmark replacements, which vary
across different contracts but are all based on SOFR.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Our focus has been and remains on implementing
all necessary contractual, commercial, operational, and technological adjustments to meet the relevant pending milestones.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As of December 31, 2021, our exposure to
LIBOR-linked contracts was limited and exclusively related to USD LIBOR. In 2021, we adopted the SOFR (Secured Overnight Finance Rate)
and CME TERM SOFR as replacements for USD LIBOR for new contracts. Since January 1, 2022, we have ceased initiating new USD LIBOR transactions,
with the exception of those authorized by international regulatory authorities (market-making activity). We are actively engaging with
our clients to update existing agreements to incorporate appropriate fallback provisions for when the USD LIBOR is no longer published.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To assess the effectiveness and measure
the ineffectiveness of these strategies, Santander Bank adheres to IAS 39. This standard mandates that the effectiveness test be conducted
at the inception of the hedge structure (prospective test) and be repeated periodically (prospective and retrospective tests) to demonstrate
that the hedge ratio expectation continues to be effective (between 80% and 125%).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In this hedging strategy, the effectiveness
tests (prospective/retrospective) are conducted by comparing two proxies, one for the hedged item and another for the hedging instrument.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The hedged item proxy is a &#34;conceptual&#34;
swap, where the passive leg mimics the part of the Stable Portion intended for protection, and the active pre-fixed leg mirrors the set
of futures designated as the hedge, consistent with the market rates on the hedge designation day. The hedge instrument proxy is a &#34;conceptual&#34;
swap, in which the active leg consists of the number of futures contracts designated as the hedge, and the passive pre-fixed leg represents
the rate negotiated at the acquisition of these contracts. The proxy remains stable throughout the strategy as the contracts are held
to maturity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Any ineffectiveness is recognized in the
income statement under the line item &#34;Gains (losses) on financial assets and liabilities (net).&#34;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>a) Prospective Test:</B> in line with
regulations, the prospective test must be conducted at the inception date and quarterly thereafter to demonstrate that the expectation
of the hedge relationship's effectiveness is high. However, for proactive and more efficient monitoring of projections and to ensure better
maintenance of the related testing routines, these tests are performed monthly.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>a.1) Periodic Prospective Test:</B>
Market Risk conducts projections for three scenarios for the tests, which include: 1&#186; 10bps on the curve; 2&#186; 50bps on the curve,
and 3&#186; 100bps on the curve. Utilizing the validated estimates, prospective tests are performed by valuing the two variable legs of
the transaction at fair value.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>a.2) Initial Prospective Test:</B> the
methodology of the periodic prospective test must also be applied at the start date of each new strategy.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>b) Retrospective Test:</B> this must
be conducted monthly using historical data to cumulatively demonstrate the hedge's effectiveness, in line with the previously outlined
methodology. Any ineffectiveness is recognized in the statement of profit or loss.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Ineffective Portion is measured through
the prospective hedge test and, if identified, it is recognized in the income statement under the line item Gains (losses) on financial
assets and liabilities (net).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Effectiveness must range between 80% and
125%.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In cash flow hedges, the effective portion
of the change in the fair value of the hedging instrument is temporarily recognized in equity under the line item &#34;Other Comprehensive
Income - Cash Flow Hedges&#34; (<B>note 25</B>) until the projected transactions take place. At that point, this portion is recognized
in the consolidated statements of income, except if the projected transactions result in the recognition of non-financial assets or liabilities,
in which case this portion will be included in the cost of the financial asset or liability. The ineffective portion of the change in
the value of foreign exchange hedging derivatives is recognized directly in the consolidated statements of income. Furthermore, the ineffective
portion of gains and losses on cash flow hedge instruments in a foreign operation is directly recognized in &#34;Gains (losses) on financial
assets and liabilities (net)&#34; in the consolidated income statements.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="border-top: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CDB</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">511,175</FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD></TR>
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<P STYLE="font: 5pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD>
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    <TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD>
    <TD COLSPAN="2">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Fair value</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Future Contracts</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(5,610)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>79,915,645</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>79,910,035</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(177,822)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>77,474,456</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>77,296,634</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Credit Operations Hedge</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(73,277)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,639,466</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,566,189</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,011</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Hedge of Securities</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD>
    <TD COLSPAN="2">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD>
    <TD COLSPAN="2">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Hedge Object</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Curve</B></FONT></TD>
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    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Adjustment to</B></FONT></TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Curve</B></FONT></TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Market</B></FONT></TD>
    <TD STYLE="padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Accounting</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Strategies</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value - liability</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Fair value</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Swap Contracts</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(547,710)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,807,983</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,260,273</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(464,400)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,176,910</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12,712,510</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Hedge of Securities</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(547,710)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,807,983</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,260,273</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(464,400)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,176,910</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,712,510</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Future Contracts</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>393,863</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>18,630,833</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,024,696</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,327,113)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>24,612,842</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>23,285,729</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Credit Operations Hedge</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,138</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,431,537</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,433,675</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,105,374)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,619,634</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,514,260</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Hedge of Securities</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">294,688</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,228,328</FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">465,051</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,525,807</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,990,858</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Funding Hedge</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">97,037</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,970,968</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,068,005</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,313,210</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,467,401</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,780,611</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 53 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a.6) Derivative Financial Instruments
- Margins Pledged as Guarantee</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The margin provided as collateral for
trading at B3 S.A. involving proprietary and third-party derivative financial instruments is composed of federal government securities.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of composed federal public securities</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Reference Value</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Treasury Bills - LFT</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,592,560</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,960,140</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">National Treasury Bills - LTN</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,891,750</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,122,045</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">National Treasury Notes - NTN</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,775,236</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>35,259,546</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>28,070,588</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Short Positions</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On December 31, 2024, the balance of short
positions totaled R$39,396,666 (2023 - R$19,831,991), which includes the value of financial liabilities resulting
from the direct sale of financial assets purchased through resale commitments or borrowed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 54 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_014"></FONT>9.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Loans and advances to clients</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"></FONT></B></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Breakdown</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the balances under the
&#34;Loans and Advances to Customers&#34; line item in the consolidated balance sheets is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt"><FONT STYLE="display: none">Schedule of classification, of the balances of loans and
advances to clients</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Classification:</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial assets measured at fair value through profit or loss&#160;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,911,803</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,040,712</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial assets measured at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">561,178,111</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">514,936,423</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;Comprising:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;Loans and advances to customers at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">594,776,041</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">548,495,491</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;Allowance for loan losses due to impairment</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(33,597,930)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(33,559,068)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loans
    and advances to customers, net</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>566,089,914</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>517,977,135</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loans
    and advances to customers, gross</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>599,687,844</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>551,536,203</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Type:</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loan operations&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">573,391,121</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">514,325,061</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing operations</FONT></TD>
    <TD STYLE="padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,343,208</FONT></TD>
    <TD STYLE="padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,154,887</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other receivables&#160;(2)</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,953,515</FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">34,056,255</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>599,687,844</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>551,536,203</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Includes loans, financings, and other forms of credit with credit characteristics.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">(2)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">These operations primarily relate
to Foreign Exchange Transactions and Other Receivables with credit granting characteristics.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify; text-indent: 1in">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Note 43-d </B>provides details on the
residual maturity periods of financial assets measured at amortized cost. There are no significant loans and advances to customers lacking
fixed maturity dates.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Detail</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The following are the details, by condition
and type of credit, borrower segment, and interest rate formula, of the loans and advances to customers, which reflect the Bank's exposure
to credit risk in its core activity, gross of impairment losses:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of gross of reduction losses to recoverable value</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loan borrower sector:</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial, and industrial</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">241,177,143</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">233,946,173</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">64,820,223</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">61,747,721</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">290,347,270</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">252,687,422</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,343,208</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,154,887</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>599,687,844</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>551,536,203</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.9pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of interest rate formula</FONT></TD>
    <TD STYLE="padding-top: 1.9pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.9pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Interest Rate Formula:</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Fixed interest rate</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">427,753,814</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">371,917,215</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Floating interest rate</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">171,934,030</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">179,618,988</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>599,687,844</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>551,536,203</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; width: 26%"><FONT STYLE="display: none">Schedule of debt sector by maturity</FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 1%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 1%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Borrower Segment by Maturity</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Less than 1 year</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>% of total</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Between 1 and 5 years</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>% of total</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>More than 5 years</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>% of total</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>% of total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">161,568,313</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">50.37%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">75,022,533</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37.55%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,586,297</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5.79%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">241,177,143</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">40.22%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,426,403</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1.69%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,241,469</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6.13%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47,152,351</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">59.58%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">64,820,223</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.81%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">152,201,789</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47.45%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">110,761,071</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">55.44%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,384,410</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">34.60%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">290,347,270</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48.42%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,577,662</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.49%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,743,417</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.87%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,129</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.03%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,343,208</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.56%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loans and advances to customers, gross</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>320,774,167</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.00%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>199,768,490</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.00%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>79,145,187</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.00%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>599,687,844</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.00%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Borrower Segment by Maturity</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Less than 1 year</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>% of total</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Between 1 and 5 years</B></FONT></TD>
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    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>More than 5 years</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>% of total</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>% of total</B></FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 26%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 1%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 1%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 9%">&#160;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">158,059,250</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">55.00%</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">70,766,467</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">38.07%</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,120,456</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6.54%</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">233,946,173</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42.42%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,994,192</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1.74%</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,620,801</FONT></TD>
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    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
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<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<!-- Field: Page; Sequence: 55 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


<P STYLE="font: 5pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="border-bottom: red 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1pt; text-align: center">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>By Maturity</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Under 1 year</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">320,774,167</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">287,366,871</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">From 1 and 5 years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">199,768,489</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">185,907,482</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Over 5 years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">79,145,188</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">78,261,850</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loans and advances to customers, gross</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>599,687,844</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>551,536,203</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>By Internal risk classification</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Low</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">454,224,878</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">408,973,258</FONT></TD>
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  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">95,687,016</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">87,232,484</FONT></TD>
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  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,804,991</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,643,774</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Medium - high</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,180,529</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,238,069</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">High</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,790,430</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,448,618</FONT></TD>
    </TR>
  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>599,687,844</B></FONT></TD>
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    </TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<!-- Field: Page; Sequence: 56 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Impairment losses</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The tables below present the reconciliations
of the opening and closing balances of the provision for losses, segmented by financial instrument category. The terms &#34;expected
loan losses in 12 months,&#34; &#34;expected loan losses over the useful life,&#34; and &#34;impairment losses&#34; are clarified
in the note on accounting practices.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The changes in provisions for impairment
losses in the balances of the item &#34;Financial assets measured at amortized cost&#34; are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of provisions for impairment losses</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 52%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Stage 1</B></FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Stage 2</B></FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Stage 3</B></FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: top; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Expected loan losses in 12 months</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Expected loan losses over the useful life not subject to impairment</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Expected loan losses over the useful life subject to impairment</B></FONT></TD>
    <TD STYLE="text-align: right; vertical-align: middle"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,551,060</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,809,160</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>25,791,851</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>35,152,071</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment losses recognized in profit or loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,596,815</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,407,546</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,969,153</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,973,514</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 9.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfers between stages</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,090,735)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,055,390</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,064,748</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,029,403</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 9.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Changes during the period</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,687,550</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,352,156</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">904,405</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,944,111</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">325,319</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">810,188</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,894,190</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,029,697</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(153,110)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">135,523</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">265,825</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">248,238</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,423,858</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,460,624</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,796,319</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,680,801</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">747</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,210</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,821</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,778</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Changes by Stage</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,941,647)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,780,338)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,721,985</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Write-off of impaired balances recognized in loss provisions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(25,401,779)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(25,401,779)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,447,925)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,447,925)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(76,697)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(76,697)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(17,875,232)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(17,875,232)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,925)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,925)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Foreign Exchange Fluctuation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(22,575)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(12,176)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(20,148)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(54,899)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,183,653</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,424,192</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>26,061,062</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>35,668,907</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Comprising:</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loans and advances to Customers</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,047,725</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,369,369</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>24,180,836</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>33,597,930</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loans and other receivables from credit institutions (Note 5)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,421</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,421</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Provision for debt instruments (Note 6)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>134,507</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>54,823</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,880,226</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,069,556</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Recoveries of previously written-off loans</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>993,906</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>993,906</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,838</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,838</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">396,276</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">396,276</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">542,986</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">542,986</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,806</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,806</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Discount Granted&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(3,504,422)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(3,504,422)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" SUMMARY="xdx: Disclosure - Loans and advances to clients (Details 5)" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 3.35pt; font-family: Times New Roman,serif">&#160;</TD>
    <TD STYLE="text-align: center; padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: center">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 52%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 3.35pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 6pt; font-family: Times New Roman,serif">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt; color: #292929"><B>Stage 1</B></FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt; color: #292929"><B>Stage 2</B></FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt; color: #292929"><B>Stage 3</B></FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 6pt; font-family: Times New Roman,serif">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -2.65pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Expected loan losses in 12 months</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -2.65pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Expected loan losses over the useful life not subject to impairment</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -2.65pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Expected loan losses over the useful life subject to impairment</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -2.65pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 3.35pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;2,885,197&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;6,861,458&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;25,464,248&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;35,211,623&#9;</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 3.35pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Impairment losses recognized in profit or loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2,957,616&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;5,934,927&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;17,651,545&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;26,544,088&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Transfers between stages</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(825,063)&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2,168,360&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;14,224,243&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;15,567,540&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Changes during the period</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;3,782,679&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;3,766,567&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;3,427,302&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;10,976,548&#9;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;923,079&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;962,933&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;4,922,975&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;6,808,987&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(43,573)&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(190,714)&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;577,993&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;343,706&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2,072,745&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;5,165,671&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;12,150,872&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;19,389,288&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;5,365&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(2,962)&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(296)&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2,107&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Changes by Stage</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2,298,090&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;6,988,340&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;9,286,430&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Write-off of impaired balances recognized in loss provisions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;-&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(26,626,574)&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(26,626,574)&#9;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(7,137,059)&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(7,137,059)&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">(209,309)&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(209,309)&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(19,276,369)&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(19,276,369)&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(3,837)&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;(3,837)&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Foreign Exchange Fluctuation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;5,618&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;1,116&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;17,129&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;23,863&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 3.35pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;3,551,059&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;5,809,160&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;25,792,779&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;35,152,998&#9;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Comprising:</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Loans and advances to Customers</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;3,462,526&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;5,766,166&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;24,330,376&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;33,559,068&#9;</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Loans and other receivables from credit institutions (Note 5)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;7,764&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;-&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;-&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;7,764&#9;</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Provision for debt instruments (Note 6)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;80,769&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;42,994&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;1,462,403&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;1,586,166&#9;</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Recoveries of previously written-off loans</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;-&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;-&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;1,381,879&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;1,381,879&#9;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;946,029&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;946,029&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;95,692&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;95,692&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;337,722&#9;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;337,722&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 12pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">Leasing</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;-&#9;</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">&#9;2,435&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 3.35pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>Discount Granted&#160;</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;-&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;(2,845,876)&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt"><B>&#9;(2,845,876)&#9;</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<!-- Field: Page; Sequence: 57 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
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<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; width: 70%">&#160;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; width: 15%">&#160;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; width: 15%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>35,152,071</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>35,211,623</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment losses recognized in profit or loss&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,973,514</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,544,088</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,029,697</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,808,987</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">248,238</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">343,706</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,680,801</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,389,288</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,778</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,107</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Write-off of impaired balances recognized in loss provisions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(25,401,779)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(26,626,574)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,447,925)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,137,059)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(76,697)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(209,309)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(17,875,232)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(19,276,369)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,925)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,837)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Foreign Exchange Fluctuation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(54,899)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,863</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>35,668,907</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>35,152,998</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Comprising:</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loans and advances to Customers</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>33,597,930</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>33,559,068</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>Loans and other receivables from credit institutions&#160;&#160;(Note 5)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,421</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,764</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>Provision for debt instruments&#160;&#160;&#160;(Note 6)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,069,556</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,586,166</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Recoveries of previously written-off loans</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>993,906</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,381,879</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">396,276</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">946,029</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,838</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">95,692</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">542,986</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">337,722</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,806</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,435</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Considering the amounts recognized in &#34;Impairment losses recognized in profit or loss,&#34; &#34;Recoveries
of previously written-off loans,&#34; and &#34;Discount Granted,&#34; the &#34;Impairment Losses on Financial Assets - Financial Assets
Measured at Amortized Cost&#34; totaled on December 31, 2024, R$ 28,484,030 (2023 &#8211; R$ 28,008,086 and 2022 &#8211; R$ 24,828,749).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The balances of the provisions for impairment
losses by borrower segment are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of provision for losses due to non-recovery by debtor sector</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,512,903</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,931,131</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real estate - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">589,884</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">418,342</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Installment loans to individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">24,545,476</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,795,733</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Lease financing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,644</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,792</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>35,668,907</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>35,152,998</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>d) Impaired assets</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The details of the changes in the balance
of financial assets classified as &#34;Financial assets measured at amortized cost - Loans and advances to customers&#34; and &#34;Debt
Instrument&#34;, which are recognized at amortized cost and identified as non-recoverable (as defined in <B>note 1.h</B>) due to credit
risk, are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of loans and advances to customers</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the start of the period</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,886,905</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,223,835</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>26,923,312</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Net Additions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">30,069,416</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">30,393,982</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">31,920,565</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Written-off Assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(27,713,967)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(29,730,912)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(19,620,042)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>42,242,354</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,886,905</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,223,835</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 58 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Below are the details of impaired financial
assets, classified by maturity date:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of non-recoverable financial assets</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">With balances not yet due or maturing within&#160;&#160;3 Months&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>23,183,630</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>21,703,718</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">With outstanding balances of:</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3 to 6 Months</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,591,700</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,806,604</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6 to 12 Months</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,564,597</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,013,258</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12 to 18 Months</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,018,442</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,499,491</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18 to 24 Months</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">750,668</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,046,074</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">More than 24 Months</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,133,317</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">817,760</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>42,242,354</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,886,905</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; width: 70%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 15%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>By borrower segment:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,175,496</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,292,100</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,736,049</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,351,934</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,283,775</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,239,229</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47,034</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,642</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>42,242,354</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,886,905</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>e) Loans overdue for less
than 90 days and not classified as impaired on the specified dates&#160;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-right: -2.65pt; text-align: justify"><FONT STYLE="display: none">Schedule of loan past due for less than 90 days but not classified as impaired</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; vertical-align: top; width: 52%; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 12%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 12%; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>% of total loans overdue for less than 90 days</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 12%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 12%; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>% of total loans overdue for less than 90 days</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial, Financial and Industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,439,903</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25.97%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,319,746</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21.81%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - Construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,046,747</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21.11%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,142,110</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21.09%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Installment Loans to Individuals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,123,824</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">52.79%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,898,143</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">56.99%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,325</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.13%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,284</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.11%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>Total&#160;(1)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>28,647,799</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.00%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>24,387,283</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.00%</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Refers exclusively to loans between 1 and 90 days.</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0">&#160;</P>


<!-- Field: Page; Sequence: 59 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>f) Leasing</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Breakdown by maturity</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Gross investment in lease transactions</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of gross investment in lease transactions</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Overdue</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,581</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">875</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Due:&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Within 1 year</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,456,825</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,076,223</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">In 1 to 5 years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,294,813</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,451,931</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">In over 5 years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,684</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,401</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,786,903</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,550,430</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>g) Transfer of financial
assets with retention of risks and benefits</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On December 31, 2024, the balance recorded
in &#34;Loans and Advances to Customers&#34; pertaining to assigned operations was R$21,024 (2023 - R$26,696) and
R$19,740 (2023 &#8211; R$25,497) under &#34;Financial Liabilities Associated with Asset Transfer&#34; (note 20).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The assignment transaction was executed
with a joint obligation clause, mandating compulsory repurchase in the following circumstances:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">contracts in default for a period
exceeding 90 consecutive days;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">contracts subject to renegotiation;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">contracts subject to portability,
in accordance with Resolution No. 3,401 of Brazil's National Monetary Council (&#34;CMN&#34;);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">contracts subject to intervention.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_015"></FONT>10.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Non-current assets held for
sale</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On December 31, 2024, 2023 and 2022, the
total value of non-current assets held for sale included assets not in use and other tangible assets. The change in the line item &#34;Non-current
assets held for sale&#34; is as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of non-current
assets held for sale</FONT><FONT STYLE="font-size: 10pt">&#160;</FONT></TD><TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,097,212</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>909,546</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,065,420</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loan enforcements - repossession of assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">691,020</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">591,126</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">201,391</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Capital Increase in Entities Held for Sale</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,826</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">44,079</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">56,512</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Disposals</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(667,668)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(447,539)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(413,777)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year, gross</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,146,390</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,097,212</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>909,546</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Provision for impairment losses&#160;&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(104,117)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(183,140)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(210,410)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Provision as a percentage of enforced assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.08%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16.69%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23.13%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,042,273</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>914,072</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>699,136</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">In 2024, it includes the amount of R$47,381
(2023 &#8211; R$76,321 and 2022 &#8211; R$196,649) from the reversal of provisions for depreciation on properties, established based on
appraisal reports prepared by a specialized external consultancy, accounted for as provision for impairment losses. </FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_016"></FONT>11.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Investments in associates
and joint ventures</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><FONT STYLE="text-decoration: underline">Jointly-controlled entities</FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander and its subsidiaries classify
investments as joint control when they have shareholder agreements that require strategic, financial, and operational decisions to receive
unanimous consent from all investors.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><FONT STYLE="text-decoration: underline">Significant Influence</FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Associates are entities over which the
Bank has the ability to exert significant influence (significant influence is the power to participate in the decision-making regarding
the financial and operational policies of the invested entity) but does not have control or joint control.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Breakdown</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of jointly controlled and significant influence - participation</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-top: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%"><B>Equity interest in&#160;&#160;%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 64%">&#160;</TD>
    <TD STYLE="width: 14%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Activity</B></FONT></TD>
    <TD STYLE="width: 6%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Country</B></FONT></TD>
    <TD STYLE="width: 8%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>2024</B></FONT></TD>
    <TD STYLE="width: 8%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Jointly Controlled by Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Banco RCI Brasil S.A.</FONT></TD>
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    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">39.89%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Estruturadora Brasileira de Projetos S.A. - EBP (1)(2)</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Activities</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: #242424 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">11.11%</FONT></TD>
    <TD STYLE="border-bottom: #242424 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">11.11%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Gestora de Intelig&#234;ncia de Cr&#233;dito (1)</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Credit Bureau</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">15.56%</FONT></TD>
    <TD STYLE="border-bottom: #242424 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">15.56%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Jointly controlled companies of Santander Corretora de Seguros</B></FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Hyundai Corretora de Seguros</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Insurance Brokerage</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">50.00%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">50.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Subsidiary of Webmotors S.A.</B></FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Loop Gest&#227;o de P&#225;tios S.A. (Loop)</FONT></TD>
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    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">51.00%</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Technology</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
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    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Subsidiary of Tecnologia Banc&#225;ria S.A. </B></FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Activities</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">TecBan Servi&#231;os Integrados Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Activities</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Subsidiary of Tbnet</B></FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Tbforte Seguran&#231;a e Transporte de Valores Ltda. (Tbforte)</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Activities</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">100.00%</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">100.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Significant Influence of Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">N&#250;clea S.A.</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Activities</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">17.53%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">17.53%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Pluxee
    Beneficios Brasil S.A. (3)</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Benefits</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">20.00%</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">&#8212;%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Santander Auto S.A.</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Activities</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">50.00%</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">50.00%</FONT></TD></TR>

   <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Significant Influence of Santander Corretora de Seguros</B></FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Tecnologia Banc&#225;ria S.A. - TECBAN (1)</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Activities</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">18.98%</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">18.98%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-right: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">CSD Central de Servi&#231;os de Registro e Dep&#243;sito aos Mercados Financeiro e de Capitais S.A</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Activities</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">20.00%</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">20.00%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Biomas - Servi&#231;os Ambientais, Restaura&#231;&#227;o e Carbono S.A.</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Other Activities</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">Brasil</FONT></TD>
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<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<!-- Field: Page; Sequence: 61 -->
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<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 8pt 0 5pt; text-align: justify"></P>

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    <TD STYLE="border-bottom: red 1pt solid; text-align: center; width: 15%">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Jointly Controlled by Banco Santander&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>644,426</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>548,339</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco RCI Brasil S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">591,951</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">491,623</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Estruturadora Brasileira de Projetos S.A. - EBP&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">387</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">209</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Gestora de Intelig&#234;ncia de Cr&#233;dito&#160;</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">52,088</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">56,507</FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Jointly Controlled by Santander Corretora de Seguros</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,307</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,607</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Hyundai Corretora de Seguros</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,307</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,607</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Significant Influence of Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,422,571</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>540,684</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">N&#250;clea S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">306,521</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">503,922</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pluxee
    Benef&#237;cios Brasil S.A. (3)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,059,643</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
 <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Santander Auto S.A.</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">56,407</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">36,762</FONT></TD></TR>
   <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Significant Influence of Santander Corretora de Seguros</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>570,872</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>519,150</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tecnologia Banc&#225;ria S.A. - TECBAN (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">248,951</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">246,083</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CSD Central de Servi&#231;os de Registro e Dep&#243;sito aos Mercados Financeiro e de Capitais S.A</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41,027</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42,565</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">BIOMAS &#8211; Servi&#231;os Ambientais, Restaura&#231;&#227;o e Carbono S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,923</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,585</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Webmotors S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">277,971</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">226,917</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,640,176</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,609,780</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Times New Roman, Times, Serif; width: 100%; margin-top: 2pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Entities with a one-month lag in equity method
accounting. For the recognition of equity method income, the financial position as of 12/31/2024 was utilized on 11/30/2024.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Times New Roman, Times, Serif; width: 100%; margin-top: 2pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Despite holding a stake of less than 20%, the
Bank exercises joint control over the entity with the other majority shareholders, through a shareholders' agreement that stipulates no
business decision can be made by a single shareholder, that is, decisions require the unanimous consent of the parties sharing control.&#8221;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Times New Roman, Times, Serif; width: 100%; margin-top: 2pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The balance of the transaction for the acquisition of a stake in Pluxee includes its investment in its benefits subsidiary, Pluxee
Institui&#231;&#227;o de Pagamento S.A. (Current name of &#8220;Ben Benef&#237;cios e Servi&#231;os Institui&#231;&#227;o
de Pagamentos S.A&#8221;) and goodwill generated by expected future profitability, as per terms described in Note 3.d.</FONT></TD></TR></TABLE>

<P STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin: 2pt 0 0; text-align: justify; text-indent: 3.8pt">&#160;&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt"><FONT STYLE="display: none">Schedule of jointly controlled and significant influence  results of equity</FONT></TD>
    <TD STYLE="padding-top: 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD COLSPAN="3" STYLE="border-top: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Equity method results</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 55%; padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="width: 15%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="width: 15%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 15%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Jointly Controlled by Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>91,247</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>60,813</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>121,499</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco RCI Brasil S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">95,674</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">66,229</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">84,214</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">N&#250;clea S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">50,607</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Estruturadora Brasileira de Projetos S.A. - EBP</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">43</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Gestora de Intelig&#234;ncia de Cr&#233;dito</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,419)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,436)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(13,365)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD COLSPAN="3" STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Equity method results</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Jointly Controlled by Santander Corretora de Seguros</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>700</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>353</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>52,079</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Webmotors S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">52,085</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Hyundai Corretora de Seguros</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">700</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">353</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Significant Influence of Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>184,987</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>128,414</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12,544</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">N&#250;clea S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">106,160</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">109,223</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pluxee Benef&#237;cios Brasil S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">53,039</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Santander
    Auto S.A</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><P STYLE="margin: 0"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,788</FONT></P></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><P STYLE="margin: 0"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,191</FONT></P></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><P STYLE="margin: 0"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,544</FONT></P></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Significant Influence of Santander Corretora de Seguros</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>36,052</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>49,656</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,057</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tecnologia Banc&#225;ria S.A. - TECBAN</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,868</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,435</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,540</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">PSA Corretora de Seguros e Servi&#231;os Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,925</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,021</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CSD Central de Servi&#231;os de Registro e Dep&#243;sito aos Mercados Financeiro e de Capitais S.A</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,538)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">496</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">BIOMAS &#8211; Servi&#231;os Ambientais, Restaura&#231;&#227;o e Carbono S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,663)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,415)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Webmotors S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">40,385</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">46,709</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>312,986</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>239,236</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>199,179</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 62 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-top: 1.65pt; padding-left: 6pt"><FONT STYLE="display: none">Schedule of jointly controlled and significant influence  total</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total Income</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Jointly Controlled by Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>14,064,120</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,920,211</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>212,082</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco RCI Brasil S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,806,942</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,663,035</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">239,839</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Estruturadora Brasileira de Projetos S.A. - EBP</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,784</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,783</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Gestora de Intelig&#234;ncia de Cr&#233;dito</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,255,393</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,255,393</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(27,759)</FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Jointly Controlled by Santander Corretora de Seguros</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,003,077</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,034,120</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(31,043)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tecnologia Banc&#225;ria S.A. - TECBAN</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,752,924</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,755,450</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,526)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Hyundai Corretora de Seguros Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,152</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,753</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,399</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CSD Central de Servi&#231;os de Registro e Dep&#243;sito aos Mercados Financeiro e de Capitais S.A</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">211,773</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">211,538</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">235</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">BIOMAS &#8211; Servi&#231;os Ambientais, Restaura&#231;&#227;o e Carbono S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">31,228</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">61,379</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(30,151)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Significant Influence of Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,442,660</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,558,737</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>883,923</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">N&#250;clea S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,779,787</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,212,634</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">567,153</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pluxee Benef&#237;cios Brasil S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,240,021</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,974,827</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">265,194</FONT></TD></TR>
   <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Santander Auto S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">422,852</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">371,276</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">51,576</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Significant Influence of Santander Corretora de Seguros</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>634,889</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>510,446</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>124,443</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Webmotors S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">634,889</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">510,446</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">124,443</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>29,144,746</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>28,023,514</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,189,405</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total Income</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Jointly Controlled by Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12,806,907</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12,739,895</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>67,012</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco RCI Brasil S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,547,631</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,442,688</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">104,943</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Estruturadora Brasileira de Projetos S.A. - EBP</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,784</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,783</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Gestora de Intelig&#234;ncia de Cr&#233;dito</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,257,492</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,295,424</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(37,932)</FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Jointly Controlled by Santander Corretora de Seguros</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,066,701</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,048,870</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>17,830</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tecnologia Banc&#225;ria S.A. - TECBAN</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,815,300</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,795,143</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,156</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Hyundai Corretora de Seguros Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,246</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,540</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">707</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CSD Central de Servi&#231;os de Registro e Dep&#243;sito aos Mercados Financeiro e de Capitais S.A</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">219,149</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">213,693</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,455</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">BIOMAS &#8211; Servi&#231;os Ambientais, Restaura&#231;&#227;o e Carbono S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,006</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">35,494</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8,488)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Significant Influence of Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,614,898</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,028,583</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>586,315</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">N&#250;clea S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,298,189</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,750,256</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">547,933</FONT></TD></TR>
 <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Santander Auto S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">316,709</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">278,327</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">38,382</FONT></TD></TR>
   <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Significant Influence of Santander Corretora de Seguros</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>485,398</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>366,626</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>118,772</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Webmotors S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">485,398</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">366,626</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">118,772</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,973,904</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,183,974</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>789,929</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<!-- Field: Page; Sequence: 63 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank does not have guarantees granted
to companies with joint control and significant influence.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank does not have contingent liabilities
with significant possible risk of loss related to investments for companies with joint control and significant influence.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Changes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The changes in the balance of this item in the years ended December 31, 2024 and 2023 were:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt"><FONT STYLE="display: none">Schedule of jointly controlled and significant influence changes in the balance</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Jointly Controlled by Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>878,944</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,320,129</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Change in corporate participation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(386,437)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Addition/(disposal)&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">186</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,000</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Capital decreases/reduction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,667)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity method results</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">91,947</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">83,304</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Dividends</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(81,467)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(96,701)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Adjustment to fair value</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">86,121</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(43,684)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>975,731</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>878,944</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Significant Influence of Banco Santander</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at beginning of year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>730,836</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>407,441</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Change in corporate participation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">386,437</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity method results</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">221,039</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">155,932</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Dividends</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(297,832)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(34,423)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Addition/(disposal)&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,011,369</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">54</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Capital decreases/reduction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,364)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(185,371)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Adjustment to fair value</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,396</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">766</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,664,444</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>730,836</B></FONT></TD></TR>
  </TABLE>
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #6D6D6D 1pt solid; font: 12pt/7pt Times New Roman,serif; width: 100%; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 7pt">(1) Transaction for the acquisition of a stake in Pluxee Benef&#237;cios Brasil S.A.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin-top: 5pt; margin-bottom: 5pt; text-align: left">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Impairment losses</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">No impairment losses were recognized for the non-recovery of investments in associates and joint ventures in 2024 and 2023.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 64 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>d) Other information</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Details on the main jointly-controlled
entities:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/11.7pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Banco RCI Brasil S.A.:</B>
Incorporated as a joint-stock company and headquartered in the state of Paran&#225;, its main objective is to engage in investment,
leasing, credit, financing, and investment activities, aimed at fostering the growth of automakers Renault and Nissan in the Brazilian
market, with a primary focus on financing and leasing to end consumers. It is a financial institution that is part of the RCI Banque Group
and the Santander Conglomerate, with its operations being executed within a framework of institutions that operate in an integrated manner
in the financial market. In accordance with the Shareholders' Agreement, the key decisions affecting this company are made jointly by
Banco Santander and other controlling shareholders.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of principal jointly controlled entities</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Banco RCI Brasil</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Banco RCI Brasil</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Assets&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,276,584</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,124,080</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,782,915</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,908,213</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Cash and Cash Equivalents</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">336,955</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">314,601</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,937)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,628)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">736,066</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">625,436</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,891,374</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,858,010</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,119,050)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,224,094)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Income / (Expense) from Income Tax</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(139,420)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(128,590)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Current Liabilities (excluding Trading, Other Liabilities, and Provisions)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,698,162</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,854,007</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Non-Current Liabilities (excluding Trading, Other Liabilities, and Provisions)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,084,753</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,054,206</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 1pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_017"></FONT>12.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Tangible assets</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank's tangible assets consist of fixed
assets for its own use. The Bank does not hold any tangible assets as investment property nor are any assets leased under operating lease
arrangements.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Breakdown</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The detail, by class of asset, of the tangible
assets in the consolidated balance sheets is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of tangible assets</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 30%; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 10%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Cost</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Land
    and buildings</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Furniture, Equipment, and Vehicles</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Leased Fixed Assets</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Facilities</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Improvements to third party properties</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Fixed Assets in Progress</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2023</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,644,882</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,896,258</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,266,685</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,870,381</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,075,464</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>110,171</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,863,841</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">440</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">450,877</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">130,696</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">29,535</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">138,179</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">105,267</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">854,993</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Write-off</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(47,160)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(516,980)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(133,840)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(650,968)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(394)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,349,343)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Cancellation of lease agreements</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(601,124)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(601,124)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">82,214</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,169</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,306</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(109,690)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,598,162</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,912,368</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,796,257</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,773,245</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,582,982</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>105,354</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>18,768,368</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Accumulated depreciation</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Land and buildings</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Furniture, Equipment, and Vehicles</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Leased Fixed Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Facilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Improvements to third party properties</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Fixed Assets in Progress</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,033,630)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(5,386,398)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,873,759)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,427,031)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(3,052,923)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(12,773,741)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(84,982)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(831,244)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(390,712)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(89,836)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(189,503)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,586,278)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Write-off</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,899</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">429,930</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">527,577</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">115,207</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">504,441</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,617,053</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2024</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,078,712)</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(5,787,712)</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,736,894)</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,401,660)</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(2,737,986)</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(12,742,965)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Impairment losses:</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impacts on results</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(502)</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(447)</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(949)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(4,537)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(4,537)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impacts on results</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,034</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,021,900</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">Depreciation expenses were recorded under
the &#8220;Depreciation and Amortization&#8221; line item in the income statement.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>&#160;</B></P>


<!-- Field: Page; Sequence: 65 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Impairment losses</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For the period ended December 31, 2024,
an impairment expense of R$14,720 (12/31/2023 &#8211; R$4,984).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Commitment to purchase
tangible assets</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As of December 31, 2024, the Bank had no
contractual commitments for the acquisition of tangible assets.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_018"></FONT>13.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Intangible assets - Goodwill</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Goodwill represents the surplus between
the acquisition cost and the Bank's share in the net fair value of the acquired entity's assets, liabilities, and contingent liabilities.
When this excess is negative (negative goodwill), it is immediately recognized in the income statement. In accordance with IAS 36, goodwill
is tested annually for impairment or whenever there are indications of impairment to the cash-generating unit to which it has been allocated.
Goodwill is recorded at its cost minus accumulated impairment losses. Impairment losses on goodwill are not reversed. Gains and losses
from the disposal of an entity include the carrying amount of the goodwill associated with the entity sold.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The recorded goodwill is subject to impairment
testing (<B>note 2.n.i</B>). The Bank's main goodwill, as shown in the table below, is due to the acquisition of Banco Real and has been
allocated according to the operating segment (<B>note 44</B>).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For the year 2024, we present the assumptions
used and results obtained in the recoverability tests of the Group's main goodwill.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of main assumptions</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: justify">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: justify">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Banco Real</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Main assumptions:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Criteria for determining the recoverable amount</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Period of cash flow projections&#160;&#160;(1)</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5 years</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Perpetual growth rate&#160;&#160;(1)</FONT></TD>
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  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Em dia</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Toro Corretora</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Main assumptions:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Period of cash flow projections&#160;&#160;(1)</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Perpetual growth rate&#160;&#160;(1)</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Discount rate&#160;(2)</FONT></TD>
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  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Cash flow projections are based on the internal budget and management&#8217;s growth plans,
taking into account historical data, expectations, and market conditions, including industry growth, interest rates, and inflation rates.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>The discount rate is determined based on the Capital Asset Pricing Model (CAPM).</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of breakdown</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Breakdown</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco ABN Amro Real S.A. (Banco Real)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,217,566</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,217,565</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Toro Corretora de T&#237;tulos e Valores Mobili&#225;rios Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">160,770</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">160,770</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Em Dia Servi&#231;os Especializados em Cobran&#231;as Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">184,447</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">184,447</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Ol&#233; Consignado (Current name of&#160;&#160;Banco Bonsucesso Consignado)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">62,800</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">62,800</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Solution 4Fleet Consultoria Empresarial S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">32,590</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">32,590</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Return Capital Servi&#231;os de Recupera&#231;&#227;o de Cr&#233;ditos S.A. (current name of Ipanema Empreendimentos e Participa&#231;&#245;es S.A.)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,304</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41,324</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Santander Brasil Tecnologia S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,381</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,381</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Return Capital Gest&#227;o de Ativos e Participa&#231;&#245;es S.A. (current name of&#160;&#160;Gira, Gest&#227;o Integrada de Receb&#237;veis do Agroneg&#243;cio S.A.)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,271</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Ap&#234;11 Tecnologia e Negocios Imobiliarios S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,777</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,777</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Monetus Investimentos S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,919</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,919</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Mobills Labs Solu&#231;&#245;es em Tecnologia LTDA</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,589</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,589</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CSD Central de Servi&#231;os de Registro e Dep&#243;sito aos Mercados Financeiro e de Capitais S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42,135</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42,135</FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">FIT Economia de Energia S.A.</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,992</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Am&#233;rica Gest&#227;o Servi&#231;os em Energia S.A</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">61,608</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>27,892,878</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>27,852,568</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<!-- Field: Page; Sequence: 66 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>




<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of changes of goodwill</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>27,852,568</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>27,889,327</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Acquisitions (write-offs):</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Em Dia Servi&#231;os Especializados em Cobran&#231;as Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(52,180)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Return Capital Gest&#227;o de Ativos e Participa&#231;&#245;es S.A. (current name of Gira, Gest&#227;o Integrada de Receb&#237;veis do Agroneg&#243;cio S.A.)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,271)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco PSA Finance Brasil S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,557)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">FIT Economia de Energia S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,992</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 6pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Am&#233;rica Gest&#227;o Servi&#231;os em Energia S.A</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">61,608</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(20,019)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,978</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;Banco ABN Amro Real S.A. (Banco Real)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt; line-height: 9.6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;Return Capital Servi&#231;os de Recupera&#231;&#227;o de Cr&#233;ditos S.A. (current name of Ipanema Empreendimentos e Participa&#231;&#245;es S.A.)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(20,020)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,978</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>27,892,878</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>27,852,568</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">A quantitative goodwill impairment test
is conducted annually.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In the goodwill impairment test, conducted
based on the December 2024 scenario, and where the discount and perpetuity growth rates are identified as the most sensitive assumptions
for the calculation of the present value (value in use) of future discounted cash flows, it was determined that there is no evidence
of impairment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Based on the tests carried out, no loss
of recoverable value of goodwill was identified on December 31, 2024 and 2023.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: red"><B><FONT ID="fp_019"></FONT>14.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: red"><B>Intangible assets
- Other intangible assets</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown, by asset category, of other
intangible assets in the consolidated balance sheets is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of details, by asset category, of the other intangible assets</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 55%; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Cost</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Information Technology Development</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Other assets</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total&#160;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2021</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,025,609</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>430,029</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,455,638</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,536,146</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">201,402</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,737,548</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Write-off</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(186,429)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,345)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(187,774)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,986</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(38)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,948</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8,381,312</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>630,048</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,011,360</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,821,519</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">85,353</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,906,872</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Write-off</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(239,768)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(28,383)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(268,151)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,679</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,679</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,969,742</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>687,018</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,656,760</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,654,226</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">35,162</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,689,388</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Write-off</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(59,759)</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(424,421)</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(484,180)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2024</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,564,209</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>297,759</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,861,968</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Accumulated amortization</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2021</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(4,208,942)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(275,283)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(4,484,225)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(651,724)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(73,735)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(725,459)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Write-off</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">40,085</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,991</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">43,076</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(4,820,581)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(346,027)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(5,166,608)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(712,984)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(186,350)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(899,334)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Write-off</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">34,231</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48,714</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">82,945</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(5,499,334)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(483,663)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(5,982,997)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,079,186)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(65,554)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,144,740)</FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Write-off</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,862</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">388,541</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">399,403</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfers</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(6,567,658)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(160,676)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(6,728,334)</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<!-- Field: Page; Sequence: 67 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; width: 55%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 15%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Impairment loss - IT</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Information Technology Development</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Other assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total&#160;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2021</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(7,094)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(100,094)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impact on net profit (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(10,091)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(21,160)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(31,251)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(103,091)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(28,254)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(131,345)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impact on net profit (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(16,044)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,429)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(19,473)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(119,135)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(31,683)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(150,818)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impact on net profit (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(48,897)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(48,897)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(168,032)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(31,683)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(199,715)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Book Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2022</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,457,640</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>255,767</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,713,407</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2023</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,351,273</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>171,672</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,522,945</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,828,519</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>105,400</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,933,919</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Refers to impairment losses on assets in the acquisition and development of software. The
impairment loss on the acquisition and development of software was recognized due to obsolescence and discontinuation of the respective
systems.</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Amortization
expenses were recorded under the &#8220;Depreciation and Amortization&#8221; line item in the income statement.</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"></FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_020"></FONT>15.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Other assets</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of &#8220;Other assets&#8221;
is as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of breakdown of the balance of other asset</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other amounts receivable from customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,909,055</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,853,699</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Prepaid expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,204,673</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,272,342</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Contractual Guarantees from Former Controlling Shareholders&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">496</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">496</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Actuarial asset (Note 21)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">341,013</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">338,820</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other receivables&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,500,220</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,531,294</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,955,457</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,996,651</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Mainly represents the payment of premiums from the portfolio of payroll loans.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_021"></FONT>16.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Deposits from credit institutions</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown, by classification, type
and currency, of the balances of these items is as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of classification type and
    currency of the balances</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Classification:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial liabilities at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">158,565,482</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">118,511,957</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>158,565,482</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>118,511,957</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Type:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Demand deposits&#160;&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">858,846</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,100,220</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Time deposits&#160;(2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">126,587,555</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">95,289,502</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Repurchase agreements</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">31,119,081</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,122,235</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Operations Backed by Private Securities&#160;&#160;(3)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,688</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">62,882</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Backed operations with Government Securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">31,105,393</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,059,353</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>158,565,482</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>118,511,957</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Non-remunerated accounts.</TD>
</TR></TABLE>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>Includes transactions with credit institutions arising from export and import financing lines,
domestic transfers (BNDES and Finame), foreign transfers, and other overseas credit lines.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left"><FONT STYLE="font-size: 7pt">(3)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-size: 7pt">These primarily relate to repurchase agreements secured by debentures
issued by the Bank itself</FONT><FONT STYLE="font-size: 8pt">.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>

<!-- Field: Page; Sequence: 68 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of deposits from the brazilian central bank and deposits</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Currency:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">46,181,480</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">43,195,827</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Euro</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,739,945</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">U.S. dollar</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">101,701,923</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">71,924,538</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other currencies</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,942,134</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,391,592</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>158,565,482</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>118,511,957</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 19.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_022"></FONT>17.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Customer deposits</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown, by classification and type,
of &#8220;Customer deposits&#8221; is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of customer deposits</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Classification:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial liabilities at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">605,068,163</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">583,220,576</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>605,068,163</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>583,220,576</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Type:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Demand deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Current accounts&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41,297,264</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">36,598,932</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Savings accounts</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">57,369,286</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">58,075,460</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Time deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">425,286,952</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">390,497,032</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Repurchase agreements</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>81,114,661</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>98,049,152</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Backed operations with Private Securities&#160;(2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,688,402</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,550,508</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Backed operations with Government Securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">67,426,259</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">76,498,644</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>605,068,163</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>583,220,576</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">(1) Non-remunerated accounts.</P>

<P STYLE="font: 7pt/8.4pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">(2) Referem-se, basicamente, a opera&#231;&#245;es
compromissadas com lastro em deb&#234;ntures de emiss&#227;o pr&#243;pria.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Note 43-d</B> contains a detail of the
residual maturity periods of financial liabilities at amortized cost.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_023"></FONT>18.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Liabilities arising from
securities</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown, by classification and type,
of &#8220;Liabilities arising from securities&#8221; is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of liabilities
arising from securities</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Classification:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Liabilities Measured at Fair Value in Income Held for Trading</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,045,496</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,985,593</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial liabilities at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">135,632,632</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">124,397,422</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>139,678,128</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>130,383,015</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Type:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real estate credit notes - LCI (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">45,798,532</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41,677,823</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,851,326</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,612,088</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Financial Bills&#160;&#160;(2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">24,515,804</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,729,058</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Agribusiness credit notes - LCA<SUP>&#160;</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">32,447,165</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">36,422,805</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Secured Real Estate Notes&#160;&#160;(3)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,065,301</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,941,241</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>139,678,128</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>130,383,015</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Real estate credit notes (&#34;LCI&#34;) are fixed income securities backed by real estate
loans and secured by either mortgage or fiduciary transfer of properties. As of December 31, 2024, their maturity dates ranged from 2025
to 2034 (2023 - with maturity dates from 2024 to 2030).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The key attributes of financial bills include a minimum term of two years, a minimum nominal
value of R$50, and the permission for early redemption of only 5% of the issued amount. As of December 31, 2024, their maturity dates
ranged from 2025 to 2034 (2023 - with maturity dates from 2024 to 2033).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(3)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Secured real estate notes are fixed-income securities backed by real estate loans collateralized
by the issuer and by a pool of real estate loans segregated from the issuer's other assets. As of December 31, 2024, their maturity dates
ranged from 2025 to 2035 (12/31/2023), with maturity dates from 2024 to 2035).&#34;</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>


<!-- Field: Page; Sequence: 69 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of indexing</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Indexing Units:</B></FONT></TD>
    <TD STYLE="width: 15%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Domestic Currency</B></FONT></TD>
    <TD STYLE="width: 15%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Foreign Currency</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial Bills</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100% to 107% of CDI</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100% of IPCA</FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pre fixed: 6.42% to 16.38%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Real estate credit notes - LCI</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">70% to 105.8% of CDI</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pre fixed: 4.98% to 15.66%</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Agribusiness credit notes - LCA</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">70% to 108% of CDI</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pre fixed: 7.74% to 15.76%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>Secured Real Estate Notes&#160;&#160;- LIG</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">80% to 106% of CDI</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Eurobonds</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Up to 9% + CDI</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4.3% of SOFR</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The currency breakdown of the balance for
this item is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of breakdown by currency</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: red 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 70%; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Currency:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">119,826,802</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">116,770,927</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">U.S. dollar</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,851,326</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,612,088</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>139,678,128</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>130,383,015</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" SUMMARY="xdx: Disclosure - Liabilities arising from securities (Details 2)" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; width: 70%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; text-align: center; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; text-align: center; width: 15%">&#160;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 2.65pt; padding-left: 2.65pt; text-align: right; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>Average interest rate&#160;(%)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Currency:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11.4%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11.9%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">U.S. dollar</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4.9%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8.8%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8.4%</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">The changes in &#8220;Liabilities arising
from securities&#8221; were as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of changes in liabilities arising from securities</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #404040 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #404040 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #404040 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Balance at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>130,383,015</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>116,042,393</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>86,496,576</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Issuances</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,541,342</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">75,404,958</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">60,583,109</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Payments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(33,038,049)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(63,400,960)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(39,154,639)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest </FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,778,418</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,998,766</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,951,908</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exchange differences and Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(986,598)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,662,142)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,165,439</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>139,678,128</B></FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>130,383,015</B></FONT></TD>
    <TD STYLE="border-bottom: #404040 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>116,042,393</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As of December 31, 2024, 2023 none of
these instruments had been converted into shares of the Bank nor had they obtained privileges or rights that, under certain circumstances,
would render them convertible into shares.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Note 43-d</B> provides details on the
residual maturity periods of the financial liabilities at amortized cost for each fiscal year.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of &#8220;Eurobonds and other
securities&#8221; is as follows:</P>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify; text-indent: 3in">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of breakdown of eurobonds and other securities</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: right">&#160;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(127,127,127) 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Issuance</B></FONT></TD>
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(127,127,127) 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Maturity by</B></FONT></TD>
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(127,127,127) 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Interest Rate (p.a.)</B></FONT></TD>
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(127,127,127) 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(127,127,127) 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2021</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2031</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Up to 9% + CDI</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,195,534</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,337,315</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2022</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2035</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Up to 9% + CDI</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,459,607</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,918,929</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2031</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Up to 9% + CDI</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,102,939</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,355,844</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2024 (1)</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2035</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Up to 9% + CDI</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,093,246</FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,851,326</B></FONT></TD>
    <TD STYLE="border-bottom: #7F7F7F 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,612,088</B></FONT></TD>
    </TR>
  </TABLE>
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 100%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; font-family: Times New Roman,serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 8pt">(1) Includes SOFR fee</FONT></TD>
    </TR>
  </TABLE>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 70 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_024"></FONT>19.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Debt Instruments Eligible
as Capital</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The details of the balance for &#8220;Debt
Instruments Eligible as Capital,&#8221; associated with the issuance of instruments to constitute Tier 1 and Tier 2 of the regulatory
capital as part of the Capital Optimization Plan, are as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; width: 33%"><FONT STYLE="display: none">Schedule of debt
instruments eligible to  compose capital</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-right: -2.65pt; text-align: right; width: 9%">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-right: -2.65pt; text-align: right; width: 13%">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; text-align: right; width: 11%">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; text-align: right; width: 12%">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; text-align: right; width: 11%">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; text-align: right; width: 11%">&#160;</TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(109,109,109) 1pt solid"><B>&#160;<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Thousand
    of <I>Reais</I></FONT></B></TD>
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Issuance</B></FONT></TD>
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Maturity</B></FONT></TD>
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value
    (in millions)</B></FONT></TD>
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Interest Rate (p.a.)&#160;</B></FONT></TD>
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(109,109,109) 1pt solid; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024&#160;</B></FONT></TD>
    <TD STYLE="border-top: Red 1pt solid; border-bottom: rgb(109,109,109) 1pt solid; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023&#160;</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tier I (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Nov-18</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">No Term (Perpetual)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">US$1,250</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7.250%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,116,218</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Bills - Tier II (2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Nov-21</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Nov-31</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$5,300</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CDI+2%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,995,673</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,072,124</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Bills - Tier II (2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Dec-21</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Dec-31</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$200</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CDI+2%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">301,468</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">266,647</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Bills - Tier II (2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Oct-23</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Oct-33</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$6,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CDI+1.6%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,949,991</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,171,978</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Bills - Tier I (3)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Sep-24</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">No Term (Perpetual)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$7,600</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CDI+1.4%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,890,652</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>23,137,784</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,626,967</B></FONT></TD>
    </TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>The issuances were conducted through the Cayman Branch and are not subject to withholding
tax, with interest paid semi-annually, beginning from May 8, 2019.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>Financial Bills issued in 2021 and 2023 include a redemption and repurchase option</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(3)</TD><TD STYLE="width: 5pt"></TD><TD>Financial Letters issued in September 2024 have redemption and repurchase options, and interest
is paid semi-annually, starting on March 5, 2025.</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt"><FONT STYLE="display: none">Schedule of changes in debt instruments eligible to compose capital</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; text-align: center">&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 55%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: top; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: top; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balances at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,626,967</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,537,618</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,641,408</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Issuance</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,600,200</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,000,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest payment Tier I (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">786,823</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">461,186</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">484,291</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest payment Tier II (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,736,383</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,464,586</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">379,103</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exchange differences / Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,051,377</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(614,496)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(105,467)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Payments of interest - Tier I</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(132,243)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(507,291)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(467,099)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Payments of interest - Tier II</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(206,683)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(394,618)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Repurchase</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,531,723)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,507,953)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>23,137,784</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,626,967</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,537,618</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Interest remuneration related to Tier 1 and Tier 2 Debt Instruments Eligible as Capital was
recorded in the period&#8217;s results as &#8220;Interest and Similar Expenses&#8221; <B>(Note 32</B>).</TD>
</TR></TABLE>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Notes possess the following characteristics
in common:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">(a) Unit value of no less than US$150
thousand and in whole multiples of US$1 thousand for any amount exceeding this minimum value;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">(b) The Notes may be repurchased or redeemed
by Banco Santander after the 5th (fifth) anniversary of their issuance date, at the sole discretion of the Bank or due to changes in the
tax legislation applicable to the Notes; or at any time, due to the occurrence of certain regulatory events.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_025"></FONT>20.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Other financial liabilities</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the balances for this
item is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt"><FONT STYLE="display: none">Schedule of  breakdown of the balances</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Credit cards</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">52,876,437</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">54,169,518</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Transactions pending settlement&#160;&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,951,903</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,685,564</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Dividends and Interest on Equity Payable</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">109,442</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">137,284</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tax collection accounts - Tax payables</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,545,784</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,208,245</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Liabilities associated with the transfer of assets&#160;&#160;(Note 9.g)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,740</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,497</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other financial liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">673,873</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,567,476</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>79,177,179</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>64,793,584</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Includes transactions pending settlement with B3 S.A. and foreign currency payment orders.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 71 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.15pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_026"></FONT>21.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Obligations for pension and
similar liabilities</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As of December 31, 2024, the balance of
provisions for pension funds and similar liabilities amounted to R$1,364,437 (2023 - R$2,543,504 and 2022 - R$1,775,202).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>I. Supplementary pension plan</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander and its subsidiaries sponsor
closed supplementary pension entities and welfare funds, with the purpose of granting retirement and pensions complementary to those granted
by Social Security, as defined in the basic regulations of each plan.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>&#8226; Banesprev - Banespa Social Security
Fund (Banesprev))</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Benesprev manages the following defined
and variable benefit plans:</B> Plan I, Plan II, Plan III, Plan IV, Plan V, Retirement and Pension Supplement Plan &#8211; Pre 75, Sanprev
Plan I, Sanprev Plan II, Sanprev Plan III, DCA, DAB and CACIBAN. All plans are closed to new subscriptions.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>&#8226; Former Banespa Employees</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The class action lawsuit filed by AFABESP
(an association of retired and former employees of Banespa), seeking payment of a semi-annual bonus provided for in the old BANESPA bylaws,
resulted in a final decision unfavorable to Banco Santander. As a result, each beneficiary of the decision may file an individual lawsuit
to receive the amount due.</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As the judgments adopted different positions
for each case, a procedure called Incident of Resolution of Repetitive Demands (IRDR) was instituted before the Regional Labor Court (TRT)
with the objective of establishing objective criteria regarding the theses defended by the Bank, mainly the prescriptive term and payment
limitations until December 2006 (regarding the establishment of Plan V). On March 11, 2024, the IRDR incident was admitted for future
judgment and the suspension of all lawsuits that are in the second instance (TRT) and filed in S&#227;o Paulo (Capital) and other cities
that are part of the jurisdiction of the TRT of S&#227;o Paulo was determined.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Finally, due to the divergence in interpretation
of the labor statute of limitations provided for in the Federal Constitution, an Action for Allegation of Non-Compliance with a Fundamental
Precept (ADPF) was also filed, so that the Federal Supreme Court (STF) can resolve the issue and indicate the correct term to be used
in the individual cases filed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On June 27, 2024, a transaction was signed
between Banco Santander, BANESPREV, AFABESP and legal advisors establishing criteria and conditions for the settlement of individual lawsuits.
By August 23, 2024 (end of the adhesion period), approximately 90% of eligible beneficiaries had formalized their adhesions to said transaction,
which were subsequently approved by court decision, and the respective individual lawsuits will be extinguished. Banco Santander registered
an obligation related to the amounts effectively due for payment of the transaction. The amounts due for the installments settled to date,
equivalent to R$2,187&#160;million, were contributed by Banco Santander to the respective plans administered by Banesprev, responsible
for administering the supplementary pension plans and for paying the transaction to the respective beneficiaries. The remaining installments
will be contributed to Banesprev until May 2026 (note 24), updated in accordance with the criteria and the benefit adjustment index provided
for in the regulations of the plans to which each holder is linked.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The other individual processes, whose beneficiaries
did not adhere to the aforementioned transaction, are pending a final decision regarding the controversial legal issues, which will be
resolved when the IRDR and ADPF are judged.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Sanprev &#8211; Santander
Pension Association (Sanprev)</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Closed supplementary pension entity that
managed three benefit plans, two in the Defined Benefit modality and one in the Variable Contribution modality, whose management transfer
process for these plans to Banesprev took place in January 2017. According to PREVIC Ordinance 389, of May 8, 2018, the termination of
Sanprev's operating authorization was approved.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Bandeprev - Bandepe Social
Security (Bandeprev)</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Defined benefit plan sponsored by Banco
Bandepe S.A. and Banco Santander, administered by Bandeprev. The plans are divided into a basic plan and a special supplementary retirement
plan, with differences in eligibility, contributions and benefits for subgroups of participants. The plans have been closed to new members
since 1999 for employees of Banco Bandepe S.A. and for all others since 2011.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>SantanderPrevi - Private Pension Entity
(SantanderPrevi):</B> is a closed supplementary pension entity, whose objective is to establish and implement pension benefit plans, complementary
to the general social security system, in accordance with current legislation.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">SantanderPrevi's Retirement Plan is structured
in the Defined Contribution modality and has been closed to new members since July 2018, as approved by PREVIC, with contributions shared
between the sponsoring companies and the plan participants. The amounts appropriated by the sponsors for the fiscal year ended December
31, 2024 were R$62,076 (2023 &#8211; R$54,774 and 2022 &#8211; R$58,960).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">There are 10 cases of benefits granted
with lifetime income from a previous plan.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>SBPREV - Santander Brasil Open Pension:</B>
As of January 2, 2018, Santander began offering this new optional supplementary pension program for newly hired employees and for employees
who are not enrolled in any other pension plan administered by the Closed Supplementary Pension Entities of the Santander Brasil Conglomerate.
This new program includes the PGBL- Free Benefits Generating Plan and VGBL-Free Benefits Generating Life modalities administered by Zurich
Santander Brasil Seguros e Previd&#234;ncia S.A, an Open Supplementary Pension Entity, open to new members, with their contributions
shared between the founding/stipulating-endorsing companies and the plan participants. The amounts appropriated by the sponsors in the
fiscal year ended December 31, 2024 were R$32,505 (2023 &#8211; R$29,348 and 2022 &#8211; R$22,068 ).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 72 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>II. Health and Dental Care Plan</B></P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Cabesp - S&#227;o Paulo State Bank
Employees' Charitable Fund:</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Entity focused on covering medical and
dental expenses of employees hired before the privatization of Banespa in 2000, as defined in the entity's Bylaws. The plans administered
by the entity are:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 19.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Retirees by HolandaPrevi (previous
name of SantanderPrevi);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 19.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Former Employees of Banco Real
(Retirees by Circulars).</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 1.4pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 1.4pt; text-align: justify"><B>Retirees from Bandeprev:</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">A health care plan granted to retirees
from Banco do Estado de Pernambuco; it is a lifetime benefit. Banco Santander subsidizes 50% of the plan value for those who retired before
November 27, 1998. For those who retired after this date, the subsidy is 30%.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Health Officers:</B><BR>
Directors, Executive Directors, Vice Presidents and Chief Executive Officers may, at their own discretion, opt for lifetime membership
in the health insurance plan in the event of termination of employment with Banco Santander or companies in its conglomerate without just
cause; provided that they meet the following requirements: have contributed to the health insurance plan for at least 3 (three) years;
have served as a director at Banco Santander or companies in its conglomerate for at least 3 (three) years; be 55 years of age or older.
The plan will be maintained under the same terms as the director enjoyed at the time of his/her termination, including the payment of
his/her share, which must be made by means of a payment slip. Dependents who were active at the time of termination will remain on the
same plan as the director, and the inclusion of new dependents will not be permitted under any circumstances.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Life Insurance for Retirees (Life Insurances):</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Granted to Retirees by Circulars: compensation
in cases of Natural Death, Disability due to Illness, Accidental Death. The subsidy is 45% of the premium value. This is a closed mass.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Life Insurance Assistance Funds (Life
Insurance):</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In December of 2018, life insurance coverage
was included in the insurance for retirees from the DCA, DAB, and CACIBAN plans. This insurance was extended to retirees from the former
Banco Meridional, with coverage according to the retiree's selection upon enrollment in the benefit. The Bank provides a subsidy of 50%
of the premium for the policyholder, and some retirees have a spouse clause, contributing 100% towards the cost. This is a closed pool.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Sudameris Foundation Medical Assistance:</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">A free lifetime clinical assistance plan
is offered to retirees who have contributed to the Sudameris Foundation for at least 25 years. This plan includes an upgrade option if
the beneficiary opts for a private room, although the default offering is in a standard ward setting. In such cases, the cost is 100%
of the Sudameris Foundation.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In addition, retired employees are entitled
to continue as beneficiaries of the Bank's health plan, provided they meet specific legal criteria and fully cover their respective contributions.
Santander provides the same level of healthcare coverage to retirees as they enjoyed during the tenure of their employment contracts.
Banco Santander's obligations towards retirees are assessed using actuarial calculations based on the present value of current costs.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>III. Actuarial Techniques</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The value of the defined benefit obligations
was determined by independent actuaries employing the following actuarial techniques:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Valuation method</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Projected unit credit method, which views each year of service resulting in an additional unit of benefit entitlement
and measures each unit separately.<BR></P>


<!-- Field: Page; Sequence: 73 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; width: 46%"><FONT STYLE="display: none">Schedule of actuarial assumptions adopted in the calculations</FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Actuarial Assumptions Adopted in the Calculations</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Retirement</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Health</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Retirement</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Health</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Retirement</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Health</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Nominal Discount Rate for Actuarial Liability</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.6%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8.7%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8.7%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.44% &#185; and 9.64%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.46% &#178; and 9.64%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Rate for Determining Interest on Assets for the Following Fiscal Year</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.6%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8.7%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8.7%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.44% &#185; and 9.64%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.46% &#178; and 9.64%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Projected Long-Term Inflation Rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3.0%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3.0%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3.0%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3.0%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3.0%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Projected Nominal Wage Growth Rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3.5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3.5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3.5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">N/A</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">General Mortality Table</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">AT2000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">AT2000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">AT2000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">AT2000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">AT2000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">AT2000</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 9pt/10.8pt Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">(1) Banesprev Plans II, V and Pr&#233;75</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">(2) Cabesp</P>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Changes in the present value of liabilities accrued as defined benefits and the
breakdown of actuarial gains (losses) arising from experience, financial assumptions, and demographic assumptions of 2024 and the last
2 years are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; width: 46%"><FONT STYLE="display: none">Schedule of financial assumptions and demographic assumptions</FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -1.3pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Post-Employment Plans</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -1.3pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Other Similar Obligations</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2022</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Present value of liabilities at the beginning of the fiscal period (Note 39)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>26,241,550</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>24,106,720</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>26,503,960</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,130,333</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,588,664</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,123,868</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Costs of current services (Note 39)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">586</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(911)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,432</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,694</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,903</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,015</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,247,577</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,188,015</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,175,565</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">438,944</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">429,103</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">427,484</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Paid benefits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,721,231)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,487,932)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,269,089)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(489,818)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(448,912)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(398,149)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Actuarial losses (gains)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,040,157)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,433,313</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,347,974)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(395,757)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">556,575</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(569,554)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">268,045</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,345</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42,826</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Present value of liabilities at the end of the fiscal period</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>22,996,370</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>26,241,550</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>24,106,720</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,689,396</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,130,333</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,588,664</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Any less:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040; line-height: 120%">&#160;&#160;Fair value of plan assets (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,158,640</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,328,362</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,316,715</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,008,751</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,570,353</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,945,407</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040; line-height: 120%">&#160;&#160;Unrecognized assets (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,617,497)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,649,505)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,141,741)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(877,078)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,082,010)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(907,430)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Provisions - net</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>455,228</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,562,694</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>931,746</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>557,724</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>641,990</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>550,687</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total provisions for pension plans, net</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,023,424</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,204,684</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,482,433</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Of which:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Actuarial provisions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,364,437</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,543,504</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,775,202</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Actuarial
    assets (note 15) (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">341,013</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">338,820</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">292,770</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Experience-Based Adjustments in Net Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,200,878)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(99,752)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(950,298)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(772,305)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>387,599</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(399,946)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Plan Experience</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,343,241)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(585,676)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(739,281)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(416,984)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(171,107)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(10,858)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Changes in Financial Assumptions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,347,376</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,652,752)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,087,825</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">770,940</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(419,306)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">580,286</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Changes in Demographic Assumptions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(178,125)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(174)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41,519</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,838</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">126</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Actuarial Gain (Loss) - Obligation</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,004,135</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(2,416,553)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,348,370</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>395,475</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(556,575)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>569,554</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Return on Investments Different from the Return Implicit in the Discount Rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,183,609)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(127,052)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(962,916)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(771,685)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">387,599</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(403,979)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Actuarial Gain (Loss) - Asset</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,183,609)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(127,052)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(962,916)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(771,685)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>387,599</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(403,979)</B></FONT></TD></TR>
  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(704,716)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,801,693</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(82,891)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>304,272</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(89,852)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(254,205)</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Refers to the surplus plans Banesprev I and III, Sanprev I, II and III and Bandeprev. Refers
to the surplus plans Banesprev I and III, Sanprev I, II and III and Bandeprev.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0">&#160;</P>


<!-- Field: Page; Sequence: 74 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The amounts recognized in the consolidated
statement of income relating to the previously mentioned defined benefit liabilities are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; width: 46%">&#160;<FONT STYLE="display: none">Schedule of amounts recognized in the consolidated statement of income statement</FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -1.3pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Post-Employment Plans</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -1.3pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Other Similar Obligations</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2022</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Income&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Personnel expenses - Costs of current services (note 39)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">586</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(911)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,432</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,694</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,903</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,015</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest and similar income and expenses - Interest cost (net) (notes 31 and 32)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(115,866)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(198,288)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,175,565</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(52,667)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(42,656)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">427,484</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest and similar income and expenses - Interest on unrecognized assets (notes 31 and 32)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">273,924</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">308,381</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,064,384)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">99,728</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">84,729</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(382,028)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other movements - Extraordinary Charges</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(67)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(280)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41,546</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(91)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">31</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>158,577</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>108,902</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>154,159</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>52,755</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>46,885</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>50,502</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The fluctuations in the fair value of the
plan&#8217;s assets were as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; width: 46%">&#160;<FONT STYLE="display: none">Schedule of changes in fair value of the plan assets</FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 9%">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -1.3pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Post-Employment Plans</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -1.3pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Other Similar Obligations</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2022</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2022</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Fair value of plan assets at the beginning of the year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>27,328,362</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>27,316,715</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>28,321,826</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,096,263</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest Income (Expenses)</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,386,330</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,477,872</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">491,611</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">471,759</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">449,758</FONT></TD></TR>
  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,200,878)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(99,752)</FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Contributions</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">212,719</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">750,690</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">177,614</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">173,335</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">164,876</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Being:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">By the Bank</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,386,461</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">210,367</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">747,913</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">177,614</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">173,335</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">164,876</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">By plan participants</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,487,650)</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exchange rate variations and other items</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(14,117)</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Fair value of plan assets at the end of the year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>26,158,640</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>27,328,362</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>27,316,715</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,008,751</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,570,354</B></FONT></TD>
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<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The assumptions concerning healthcare cost
rates have a significant impact on the amounts recognized in the financial statements. A one percentage point change in healthcare cost
rates would have the following effects:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: red 1pt solid">&#160;</TD>
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  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; width: 46%">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 9%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Current Service Cost and Interest</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(+)0.5%</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(27,627)</FONT></TD>
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  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Cost of Medical Care</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(+)0.5%</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(-)0.5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(26,451)</FONT></TD>
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  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The following table presents the duration
of actuarial liabilities of the plans sponsored by Banco Santander:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 75 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; width: 16%">&#160;<FONT STYLE="display: none">Schedule of duration of actuarial of plans</FONT></TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 26%">&#160;</TD>
    <TD STYLE="width: 19%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid; width: 24%">&#160;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Post-Employment Plans</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Other Similar Obligations</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Plans</B></FONT></TD>
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    <TD>&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Plans</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Duration (Average in Years)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banesprev</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Sanprev</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Bandeprev&#160;</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SantanderPrevi&#160;</FONT></TD>
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    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Diretores Vital&#237;cios&#160;</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CACIBAN / DAB / DCA</FONT></TD>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Diretores Sa&#250;de</FONT></TD>
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  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
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  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Seguro de Vida&#160;</FONT></TD>
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  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.45pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_027"></FONT>22.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Provisions for judicial and
administrative proceedings, commitments and other provisions</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Breakdown</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of &#8220;Obligation and
Provisions&#8221; is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="display: none">Schedule of breakdown of obligation and provisions</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Provisions for pension funds and similar liabilities (Note 21)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,364,437</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,543,504</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Provisions for judicial and administrative proceedings, commitments, and other provisions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,612,493</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,930,277</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Judicial and Administrative Proceedings for Liabilities of Former Controlling Shareholders&#160;&#160;(Note 15)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">496</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">496</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;Judicial and administrative proceedings&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,065,853</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,457,667</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;Comprising:&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;Civil</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,330,621</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,888,359</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;Labor</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,946,482</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,277,476</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;Tax and Social Security</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,788,750</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,291,832</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Provisions for contingent liabilities&#160;&#160;(Note 22.b.1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">440,113</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">382,485</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Miscellaneous provisions&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">106,031</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">89,629</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,976,930</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,473,781</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify; color: red"><B>b) Changes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The changes in &#8220;Obligation and
Provisions&#8221; were as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="display: none">Schedule of changes in obligation and provisions</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD COLSPAN="3">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Pension Funds&#160;&#160;(1)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Other Provisions</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,543,504</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8,930,277</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,473,781</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions charged to income:</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest expense and similar charges&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">205,119</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">205,119</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Personnel Expenses (Note 39)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,280</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,280</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Establishment / Reversals and Adjustments of Provisions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(24)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,537,708</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,537,684</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other Comprehensive Income&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">736,938</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">736,938</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Establishment / Reversal of provisions for contingent commitments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">57,628</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">57,628</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Payments to external funds&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,417,724)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,417,724)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Amount paid</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,913,120)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,913,120)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfer to other assets - actuarial assets (Note 15)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">24,452</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">24,452</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfers, foreign exchange fluctuations, and other variations</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">265,892</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">265,892</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,364,437</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,612,493</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,976,930</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>



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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD COLSPAN="3">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Pension Funds&#160;&#160;(1)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Other Provisions</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,775,202</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,339,941</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,115,143</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions charged to profit or loss:</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest and Similar Income and Expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">154,499</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">154,499</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Personnel Expenses (Note 39)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,788</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,788</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Establishment / Reversals and Adjustments of Provisions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(89)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,472,411</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,472,322</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other Comprehensive Income&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">834,702</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">834,702</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Establishment / Reversal of provisions for contingent commitments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(47,999)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(47,999)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Payments to external funds&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(251,467)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(251,467)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Amount paid</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,834,076)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,834,076)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfer to other assets - actuarial assets (Note 15)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,869</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,869</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfers, foreign exchange fluctuations, and other variations</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,543,504</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8,930,277</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,473,781</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD COLSPAN="3">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Pension Funds&#160;&#160;(1)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Other Provisions</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the beginning of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,728,126</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8,876,356</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,604,482</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Additions charged to profit or loss:</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest and Similar Income and Expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">156,637</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">156,637</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Personnel Expenses (Note 39)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,447</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,447</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Establishment / Reversals and Adjustments of Provisions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">40,470</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,652,562</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,693,032</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other Comprehensive Income&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(401,147)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(401,147)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Establishment / Reversal of provisions for contingent commitments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(477,543)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(477,543)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Payments to external funds&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(783,187)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(783,187)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Amount paid</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,713,474)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,713,474)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfer to other assets - actuarial assets (Note 15)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,856</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,856</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Transfers, foreign exchange fluctuations, and other variations</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,040</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,040</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,775,202</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,339,941</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,115,143</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>For further information, please refer to note 21. Provisions for pension funds and similar
liabilities</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>b.1) Provisions for contingent payments</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As stated in <B>note 1.iv</B>, IFRS 9
mandates the recognition of a provision for expected loan losses on financial guarantee contracts that have not yet been honored. This
provision expense, reflecting the credit risk, must be measured and recognized when such guarantees are honored and the guaranteed customer
fails to meet their contractual obligations. Changes in these provisions during the fiscal years of 2024, 2023 and 2022 are detailed
below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="display: none">Schedule of movement of provision</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Balance at the beginning of the period</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">382,485</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">430,484</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">908,027</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Establishment / Reversal of provisions for contingent commitments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">57,628</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(47,999)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(477,543)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at end of year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>440,113</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>382,485</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>430,484</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify"><B>c) Provisions for Tax and Social Security,
Labor and Civil Matters</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander and its subsidiaries are
involved in judicial and administrative proceedings related to tax, social security, labor, and civil matters, arising from their regular
business operations.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Provisions have been established based
on the nature, complexity, and historical context of the legal proceedings, as well as on the assessment of loss in the companies' proceedings,
informed by the opinions of both internal and external legal advisors. It is Banco Santander's policy to fully provision the value at
risk for proceedings deemed to have a probable loss.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Management understands that the provisions
made are sufficient to meet legal obligations and potential losses arising from judicial and administrative proceedings as follows: </P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.1) Judicial and Administrative Proceedings
Pertaining to Tax and Social Security Matters</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Main judicial and administrative proceedings
with probable loss risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 77 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander and its subsidiaries are
involved in judicial and administrative proceedings related to tax and social security disputes, which are classified based on the opinion
of legal advisors as having a probable loss risk.</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Provisional Contribution on Financial
Transactions (CPMF) in Client Operations</B> - R$1,167 million (12/31/2023 - R$1,099 million) in Consolidated: in May 2003, the Brazilian Federal Revenue Service issued
a tax assessment notice against Santander Distribuidora de T&#237;tulos e Valores Mobili&#225;rios Ltda. (Santander DTVM) and another
notice against Banco Santander (Brasil) S.A. The purpose of the proceedings was the collection of CPMF on transactions carried out by
Santander DTVM in the management of its customers' funds and clearing services provided by the Bank to Santander DTVM, which occurred
during the years 2000, 2001 and 2002. The administrative proceeding ended unfavorably for both Companies. On July 3, 2015, Banco and Santander
Brasil Tecnologia S.A. (current name of Produban Servi&#231;os de Inform&#225;tica S.A. and Santander DTVM) filed a lawsuit seeking
to cancel both tax debts. Said lawsuit resulted in an unfounded sentence and ruling, which led to the filing of a Special Appeal to the
STJ and an Extraordinary Appeal to the STF, which are awaiting judgment. Based on the assessment of legal advisors, a provision was set
up to cover the losses considered probable in the lawsuit.&#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>National Institute of Social Security
(INSS)</B> - R$142 million in Consolidated (12/31/2023 - R$138 million in Consolidated) Banco Santander and the controlled companies discuss
administratively and judicially the collection of the contribution of social security and education salary on various funds that, according
to the assessment of legal advisors, do not have a salary nature.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Service Tax (ISS) - Financial Institutions
</B>&#8211; R$366 million
in Consolidated (12/31/2023 - R$379
million in Consolidated): Banco Santander and the controlled companies are administratively and judicially discussing the requirement,
for several municipalities, for the payment of ISS on various revenues arising from operations that are not usually classified as provision
of services. Furthermore, other actions involving ISS, classified as possible risk of loss, are described in n<B>ote 22 c.4.</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.2) Judicial and Administrative Proceedings
Pertaining to Labor Matters</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">These are legal actions initiated by Labor
Unions, Associations, the Labor Public Prosecutor's Office, and former employees, claiming labor rights they believe are due, particularly
regarding the payment of &#34;overtime&#34; and other labor rights, including proceedings related to retirement benefits.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For claims regarded as routine and alike
in nature, provisions are recorded based on the historical average of settled cases. Claims that do not meet this criterion are provisioned
based on an individual assessment, with provisions established according to the probable risk of loss, in compliance with the law and
jurisprudence, as determined by the loss assessment conducted by legal advisors.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.3) Judicial and Administrative Proceedings
Pertaining to Civil Matters</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">These provisions typically arise from:
(i) claims requesting a review of contractual terms and conditions or monetary adjustment requests, including alleged impacts from the
implementation of various government economic plans, (ii) claims related to financing contracts, (iii) enforcement actions, and (iv) claims
for compensation for losses and damages. For civil claims deemed routine and alike in nature, provisions are recorded based on the historical
average of settled cases. Claims that do not meet this criterion are provisioned based on an individual assessment, with provisions established
according to the probable risk of loss, in compliance with the law and jurisprudence, as determined by the loss assessment conducted by
legal advisors.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The main proceedings classified as probable
loss risk are detailed below:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Compensatory Actions</B> - These relate
to compensation for material and/or moral damages arising from consumer relationships, primarily involving issues related to credit cards,
consumer loans, current accounts, collections, loans, and other matters. For claims concerning causes deemed alike and routine for the
business, within the normal course of the Bank's operations, provisions are established based on the historical average of settled cases.
Claims that do not meet this criterion are provisioned based on an individual assessment, with provisions set according to the probable
risk of loss, in compliance with the law and jurisprudence, as determined by the loss assessment conducted by legal advisors.</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Economic Plans</B> - These relate
to judicial proceedings that claim alleged inflationary adjustments arising from Economic Plans (Bresser, Ver&#227;o, Collor I and II),
on the basis that such plans infringed upon vested rights associated with the application of purportedly owed inflationary indices to
Savings Accounts, Judicial Deposits, and Time Deposits (&#34;CDBs&#34;). The provisions for these lawsuits are based on the individualized
assessment of loss conducted by legal advisors.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander is also a party to public
civil actions related to the same subject matter, initiated by consumer protection entities, the Public Prosecutor's Office, or Public
Defenders. Provisions are recognized only for cases with a probable loss risk, based on individual enforcement requests. The issue is
currently under review by the STF. There is existing jurisprudence in the STF that is favorable to banks concerning economic phenomena
similar to that of savings accounts, such as in the case of inflation adjustments to time deposits (&#34;CDBs&#34;) and adjustments
applied to contracts (&#34;tablita&#34;).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">However, the jurisprudence of the STF regarding
the constitutionality of the regulations that amended Brazil's monetary standard has not yet been established. On April 14, 2010, the
Superior Court of Justice (&#34;STJ&#34;) ruled that the deadline for initiating public civil actions related to the inflation adjustments
is 5 years from the date of the plans, but this ruling has not yet become final and conclusive. Accordingly, with this decision, a significant
number of the claims, as filed after the x-year deadline, are expected to be declared unfounded, thereby reducing the amounts involved.
The STJ also ruled that the deadline for individual savers to register for Public Civil Actions is x years, counted from the date of the
final judgment of the respective case. Banco Santander is confident in the success of the positions it has advocated before these courts,
due to their substance and rationale.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 78 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Towards the end of 2017, the Attorney General's
Office (&#34;AGU&#34;), the Brazilian Central Bank (&#34;Bacen&#34;), the Consumer Defense Institute (&#34;Idec&#34;), the Brazilian
Savers Front (&#34;Febrapo&#34;), and the Brazilian Federation of Banks (&#34;Febraban&#34;) entered into an agreement with the objective
of resolving the legal disputes related to the Economic Plans.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The discussions were centered on determining
the amount to be paid to each claimant, based on the balance in the savings account as of the plan's date. The total amount of the payments
will depend on the number of participants, as well as the number of savers who have successfully demonstrated in court the existence of
the account and the balance on the anniversary date of the index adjustment. The settlement agreement negotiated between the parties was
ratified by the STF.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In a ruling by the STF, a nationwide suspension
of all legal proceedings concerning the issue was ordered for the duration of the agreement, except for cases where judgments are being
definitively enforced.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">On March 11, 2020, the agreement was extended
through an addendum, incorporating lawsuits exclusively pertaining to the discussion of the Collor Plan I. This extension is for a term
of 5 years, and the ratification of the addendum's terms took place on June 03, 2020.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Management believes that the provisions
made are adequate to cover the risks associated with the economic plans, in light of the ratified agreement.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.4) Contingent Liabilities in Tax,
Social Security, Labor, and Civil Matters Classified as Possible Loss Risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">These are judicial and administrative proceedings
related to tax, social security, labor, and civil matters, classified, based on the opinion of legal advisors, as carrying a risk of possible
loss, therefore, not provisioned.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Tax lawsuits with a possible loss classification
totaled R$35,834 millions in the Consolidated (12/31/2023 - R$34,829 million), with the main lawsuits being as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>PIS and COFINS</B>- Lawsuits filed by
Banco Santander (Brasil) S.A. and other entities of the Group to prevent the application of Law No. 9,718/98, which changes the calculation
basis of the Social Integration Program (PIS) and the Contribution for Social Security Financing (COFINS), extending it to all revenues
of the entities, and not only to revenues arising from the provision of services. Regarding the Banco Santander (Brasil) S.A. case, in
2015 the Brazilian Supreme Court (STF) admitted the extraordinary appeal filed by the Federal Government regarding PIS and denied the
extraordinary appeal filed by the Federal Public Prosecutor's Office regarding the contribution to COFINS, confirming the decision of
the Federal Regional Court in favor of Banco Santander (Brasil) S.A. in August 2007. The STF decided, by means of General Repercussion,
Theme 372 and partially accepted the Federal Government's appeal, establishing the thesis that PIS/COFINS is levied on operating revenues
arising from the typical activities of financial institutions. With the publication of the judgment, the Bank filed a new appeal regarding
PIS, which is awaiting analysis. Based on the assessment of legal advisors, the risk prognosis was classified as a possible loss, with
an appeal not being probable. As of December 31, 2024, the amount involved is R$2.225 million. For the other legal actions, the respective
PIS and COFINS obligations were established.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>INSS on Profit Sharing or Results (PLR)</B>
- The Bank and its subsidiaries are subject to legal and administrative proceedings arising from questions from tax authorities regarding
the collection of social security contributions on payments made as profit sharing. On December 31, 2024, the amount was approximately
R$9,804 million.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Service Tax (ISS) - Financial institutions</B>
- Banco Santander and its subsidiaries are contesting both administratively and judicially the imposition by several municipalities of
the ISS on various income derived from operations not typically recognized as service provision. As of December 31, 2024, the value was
approximately R$3,635 million.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Non-Ratified Tax Offsetting</B> - The
Bank and its subsidiaries are engaged in both administrative and legal disputes with the Federal Revenue Service over the non-ratification
of tax offsets involving credits from overpayments or undue payments. As of December 31, 2024, the total amount was approximately R$6,524
million</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Losses in Credit Operations</B> -The
Bank and its subsidiaries contested the tax assessments issued by the Brazilian Federal Revenue Service, alleging the undue deduction
of losses on credit transactions from the IRPJ and CSLL calculation bases for allegedly not meeting the requirements of the applicable
laws. On December 31, 2024, the amount was approximately R$1,092 million</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Use of CSLL Tax Loss and Negative Base</B>
- Notices of infraction issued by the Brazilian Federal Revenue for the fiscal years 2009 and 2019, concerning alleged improper offsetting
of tax losses and negative CSLL base, following tax assessments from previous periods. A decision in the administrative court is pending.
As of December 31, 2024, the value was approximately R$2,522 million.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Amortization of Goodwill from Banco
Sudameris Acquisition</B> - The tax authorities issued notices of violation to demand payment of IRPJ and CSLL, including late payment
charges, related to the tax deduction of the amortization of the goodwill paid in the acquisition of Banco Sudameris, for the base period
from 2007 to 2012. Banco Santander presented the respective administrative defenses. The first period assessed is awaiting analysis of
an appeal at CARF. Regarding the period from 2009 to 2012, a lawsuit was filed to discuss the IRPJ portion, due to the unfavorable conclusion
in the administrative process. For the CSLL portion of this same period, we request the withdrawal of the Special Appeal filed, aiming
to take advantage of the benefits established by Law No. 14,689/2023 (quality vote). A lawsuit will be filed for the remaining portion.
On December 31, 2024, the amount was approximately R$837 million.</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>IRPJ and CSLL Capital Gains</B> -
The Brazilian Federal Revenue Service issued a tax assessment notice against Santander Seguros (legal successor of ABN AMRO Brasil Dois
Participa&#231;&#245;es S.A. (AAB Dois Par) charging income tax and social contribution related to the fiscal year 2005. The Brazilian
Federal Revenue Service claims that the capital gain on the sale of shares of Real Seguros S.A. and Real Vida e Previd&#234;ncia S.A.
by AAB Dois Par should be taxed at a rate of 34.0% instead of 15.0%. The assessment was administratively challenged based on the understanding
that the tax treatment adopted in the transaction was in accordance with the current tax legislation and the capital gain was duly taxed.
The administrative proceeding ended unfavorably to the Company. In July 2020, the Company filed a lawsuit seeking to cancel the debt.
The lawsuit is awaiting judgment. Banco Santander is responsible for any adverse outcome in this proceeding as the former controlling
shareholder of Zurich Santander Brasil Seguros e Previd&#234;ncia S.A. On December 31, 2024, the value was approximately R$573 million.</P>
<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>


<!-- Field: Page; Sequence: 79 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
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<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>IRRF &#8211; Overseas Remittance</B>
- The Company filed a lawsuit seeking to eliminate the taxation of Income Tax Withheld at Source &#8211; IRRF, on payments derived from
the provision of technology services by companies headquartered abroad, due to the existence of International Treaties signed between
Brazil-Chile; Brazil-Mexico and Brazil-Spain, thus avoiding double taxation. A favorable judgment was handed down and the National Treasury
appealed to the Regional Federal Court of the 3rd Region, where it awaits judgment. On December 31, 2024, the amount was approximately
R$1,109 million.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Labor lawsuits with a possible loss classification
totaled R$459 million in the Consolidated, including the lawsuit below:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Adjustment of Banesprev Retirement Supplements
through IGPDI</B> - Class action filed by Afabesp requesting a change in the adjustment index for social security benefits for retirees
and former employees of Banespa, hired before 1975. Initially, the action was ruled unfavorably to Banco Santander, which appealed this
initial decision and on August 23, 2024, it was ruled in favor of Banco Santander. Against this new decision, on August 30, 2024, AFABESP
filed an Embargo for Clarification, which is pending judgment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Liabilities related to civil lawsuits with
a possible risk of loss totaled R$3,249 million in the Consolidated, with the main lawsuit being:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Indemnity lawsuit related to custody
services provided by Banco Santander.</B> The lawsuit is in the expert assessment phase and has not yet been sentenced.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_028"></FONT>23.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT>Tax assets and liabilities</FONT></B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Income tax and social
contribution</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The total charges for the period can be
reconciled with the accounting profit as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of total charge for the period can be reconciled to accounting profit</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Operating Profit Before Tax</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,190,228</B></FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Tax Rate&#160;&#160;(25% income tax and 20% social contribution tax) (3)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(8,635,601)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(5,364,743)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(8,890,954)</B></FONT></TD></TR>
  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(3,258,281)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(3,789,866)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(3,629,609)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity method</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">140,870</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">108,380</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,880</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Non-Deductible Expenses Net from Non-Taxable Income&#160;&#160;(2)</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,345,411</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,016,111</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Adjustments:</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Recognition
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(224,038)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">127,166</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">312,227</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest on Equity&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,589,128</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,660,040</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,361,830</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Effect of CSLL (Social Contribution on Net Profit) Rate Difference&#160;&#160;(3)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,441,329</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">684,133</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other adjustments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">824,718</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,135,940</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Income taxes&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(5,776,465)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(2,422,839)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(5,235,252)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;Current taxes</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,193,804)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,962,995)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,597,818)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;Deferred taxes</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">417,339</FONT></TD>
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  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,077,436)</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">PIS and COFINS are considered as components of the profit base (net base of certain income
and expenses); therefore, in accordance with IAS 12, they are recorded as income taxes.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>It mainly includes the tax effect on income from updates to judicial deposits and other income
and expenses that are permanent differences.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(3)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">In the Consolidated Financial Statements, we account for the difference in CSLL (Social Contribution
on Net Profit) tax rates of 9% (non-financial companies), 15% (financial companies), and 20% (banks).</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Foreign Exchange Hedge of the Grand
Cayman Branch, Luxembourg Branches</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander operates branches in the
Cayman Islands and Luxembourg, primarily for the purpose of securing funding in the international capital and financial markets. These
funds are used to provide the Bank with lines of credit, which are extended to its clients for the financing of foreign trade and working
capital.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To hedge the exposure to foreign exchange
fluctuations, the Bank employs derivatives and funding mechanisms. In accordance with Brazilian tax legislation, gains or losses arising
from the appreciation or depreciation of the Brazilian Real on foreign investments were not taxable. However, starting in January of 2021,
these have become taxable or deductible for the purposes of Income Tax (IR) and Social Contribution on Net Profit (CSLL), whereas gains
or losses from derivatives used as hedging instruments are taxable or deductible. The purpose of these derivatives is to protect the net
income after taxes.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Law No. 14,031, dated July 28, 2020, stipulates
that from January 2021, 50% of the foreign exchange fluctuation on investments abroad must be included in the determination of actual
profit and in the tax calculation base for the Social Contribution on Net Profit (CSLL) of the investing legal entity domiciled in the
country. From 2022 onwards, the foreign exchange fluctuation will be fully accounted for in the taxable bases of the IRPJ and CSLL.</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
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<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The distinct tax treatment for PIS and
COFINS taxes from these foreign exchange differences induces volatility in &#34;Operating Income Before Tax&#34; and the &#34;Income
Taxes&#34; line items. Below are detailed the effects of the operations executed, as well as the aggregate impact of the foreign exchange
hedge for the fiscal years ending on December 31, 2024, 2023 and 2022:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of foreign exchange hedge</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 55%; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Foreign exchange fluctuations (net)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Gains (losses) arising from exchange rate fluctuations on the Bank&#8217;s investments in the Cayman, Luxembourg, and EFC Branches</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,627,778</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,281,452)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,643,931)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Gains (losses) on financial assets and liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Income generated from the use of derivative contracts as foreign exchange hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(14,292,394)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,444,617</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,773,337</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Income Taxes</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tax effect of derivative contracts used as hedge - PIS/COFINS</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">664,616</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(163,165)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(129,406)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tax effect of derivative contracts used as hedge - Income/Social Contribution Taxes</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Effective tax rate calculation</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The effective tax rates are:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of effective tax rate</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 55%; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Operating Income Before Tax</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,190,228</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,921,652</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,574,727</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Income Tax&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,776,465)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,422,839)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,235,252)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Effective tax rate&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">30.10%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20.32%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26.74%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Tax recognized in equity</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In addition to the income tax recognized
in the consolidated income statement, the Bank has recorded the following amounts directly in equity:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of bank recorded amounts in equity</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 55%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Tax credits recognized in equity</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>339,389,357</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>139,356,609</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,853,421</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Measurement of securities at fair value through other comprehensive income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">333,401,042</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">136,550,936</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,061,631</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Measurement of cash flow hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,607,676</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">223,487</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">758,045</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Measurement of investment hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">562,353</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">562,353</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">562,352</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Measurement of defined benefit plan</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,818,286</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,019,833</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,471,393</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Tax expenses recognized in equity</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(346,808,871)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(140,799,732)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,474,107)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Measurement of securities at fair value through other comprehensive income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(335,837,710)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(133,417,362)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,465,965)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Measurement of cash flow hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,628,353)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(430,444)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Measurement of investment hedge</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,421,361)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,421,361)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Measurement of defined benefit plan</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,921,447)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,530,565)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8,142)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(7,419,514)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,443,123)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,379,314</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">This pertains to deferred tax liabilities
recognized in equity, arising from temporary differences accounted for in equity.&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>d) Deferred taxes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The balances of &#8220;Deferred Tax Assets&#8221;
and &#8220;Deferred Tax Liabilities&#8221; are presented as follows:</P>

<P STYLE="font: 1pt/120% Arial, Helvetica, Sans-Serif; margin: 1.75pt 0 1pt 0.2pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of balances of tax assets and liabilities</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 66%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 17%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 17%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Deferred Tax Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>48,223,877</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>43,445,704</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;&#160;Comprising:</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;&#160;Temporary differences (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42,737,528</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,877,300</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;&#160;Tax loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,486,349</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,561,066</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CSLL 18%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,338</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total deferred tax assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>48,223,877</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>43,445,704</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Deferred tax liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,689,440</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,699,432</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;Comprising:</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Excess depreciation of leased assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">394,257</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">391,490</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Fair value adjustment of trading securities and derivatives&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,295,183</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,307,942</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>&#160;Total deferred tax liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,689,440</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,699,432</B></FONT></TD>
    </TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/130% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Temporary differences primarily related to impairment losses on loans and receivables, provisions
for judicial and administrative proceedings, and the effect of the fair value on financial instruments.</TD>
</TR></TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<!-- Field: Page; Sequence: 81 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The changes in the balances of &#8220;Deferred
Tax Assets&#8221; and &#8220;Deferred Tax Liabilities&#8221; over the last three fiscal years were the following:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of changes in the balances of tax assets and liabilities</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 45%; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 11%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balances at December 31, 2023</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 11%; padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 1.9pt 0 0; text-align: right"><B>Adjustment to</B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: right"><B>Income</B></P></TD>
    <TD STYLE="border-top: red 1pt solid; width: 11%; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt; text-align: right; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>Fair value adjustments&#160;&#160;(1)</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 11%; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt; text-align: right; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>Other&#160;(2)</B></FONT></TD>
    <TD STYLE="border-top: red 1pt solid; width: 11%; padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Deferred Tax Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>43,445,704</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,124,515</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,460,496</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(806,838)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>48,223,877</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Temporary differences</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,877,300</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,206,570</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,460,496</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(806,838)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42,737,528</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Tax loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,561,066</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(74,717)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,486,349</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">CSLL 18%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,338</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,338)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Deferred Tax Liabilities:&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,699,432</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,238,539</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">597,555</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(846,086)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,689,440</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Temporary differences</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,699,432</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,238,539</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">597,555</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(846,086)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,689,440</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,746,272</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>885,976</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,862,941</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,248</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>42,534,437</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balances at December 31, 2022</B></FONT></TD>
    <TD STYLE="padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 1.9pt 0 0; text-align: right"><B>Adjustment to</B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1.5pt; text-align: right"><B>Income</B></P></TD>
    <TD STYLE="padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Adjustments to fair value (1)</B></FONT></TD>
    <TD STYLE="padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt; text-align: right; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>Other&#160;(2)</B></FONT></TD>
    <TD STYLE="padding-top: 1.9pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance on December 31, 2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Deferred Tax Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>38,607,588</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,720,657</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(950,117)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>67,576</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>43,445,704</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Temporary differences</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,086,551</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,673,290</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(950,117)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">67,576</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,877,300</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Tax loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,521,037</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">40,029</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,561,066</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;CSLL 18%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,338</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,338</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Deferred Tax Liabilities:&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,642,000</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>169,844</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(116,235)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,823</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,699,432</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Temporary differences</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,642,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">169,844</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(116,235)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,823</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,699,432</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>34,965,588</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,550,813</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(833,882)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>63,753</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,746,272</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Refers to the tax recognized in equity.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>In 2024, it refers mainly to the net of deferred taxes in the amount of R$39,248 (2023 &#8211;
R$63,753 and 2022 &#8211; R$297,323), which have the same counterparty and realization period.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>e) Expected realization
of deferred tax assets</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of expected realization of deferred tax assets</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid">&#160;</TD>
    <TD COLSPAN="4" STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Deferred Tax Assets</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: red 1pt solid; border-bottom: black 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Deferred Tax Liabilities</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 40%; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Year</B></FONT></TD>
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    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Tax losses</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>CSLL 18%</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Temporary differences</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 1.4pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2025</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">7,467,020</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">601,222</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">8,068,242</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,090,672</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,090,672</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2026</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">7,516,111</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">30,649</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">7,546,760</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,073,259</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,073,259</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2027</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">5,501,618</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">331,136</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">5,832,754</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">852,844</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">852,844</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2028</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">4,748,573</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">791,529</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">5,540,102</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">838,550</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">838,550</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2029</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">5,519,352</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,129,474</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">6,648,826</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,330,059</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">1,330,059</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2030 to 2034</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">11,984,854</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">2,578,464</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">14,563,318</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">186,536</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">186,536</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">After 2035</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">23,875</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">23,875</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">317,520</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black">317,520</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>42,737,528</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>5,486,349</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>48,223,877</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>5,689,440</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: black"><B>5,689,440</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 82 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_029"></FONT>24.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Other liabilities</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Next, the breakdown of the balance of the
line &#8220;Other Liabilities&#8221; line item:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="display: none">Schedule of breakdown of the balance of other liabilities</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 70%; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Provisioned expenses and deferred income&#160;&#160;(1) (4)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,542,200</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,768,139</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Ongoing transactions&#160;&#160;(3)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,148,561</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,206,095</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Provision for stock-based compensation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">278,707</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">368,434</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Insurance contract liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,579,095</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,734,544</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other (2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,835,316</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,937,018</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,383,879</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,014,230</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Primarily relates to outstanding payments for personnel expenses</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>Includes Credits for Funds to be Disbursed, such as Administrative Fees, and Payables from
Related Parties and Suppliers.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(3)</TD><TD STYLE="width: 5pt"></TD><TD>Mainly includes amounts to be transferred to credit card networks (funds in transit) and
amounts to be disbursed for real estate loan operations.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 7pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(4)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The amount includes the effects of the obligation created as a result of the transaction
signed between Banco Santander, BANESPREV, AFABESP and legal advisors on June 27, 2024. See details in note 21.</TD>
</TR></TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_030"></FONT>25.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Other Comprehensive Income</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The &#34;Other Comprehensive Income&#34;
line balances comprise the amounts, net of the corresponding tax effects, of adjustments to assets and liabilities temporarily recognized
in equity, as presented in the Statement of Changes in Shareholders' Equity and Consolidated Statements of Comprehensive Income until
they are extinguished or realized, at which point they are definitively recognized in the Consolidated Statement of Income. The values
arising from subsidiaries, interest in associates, and joint ventures are presented, line by line, in the appropriate line items according
to their nature.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">It is important to note that the consolidated
statements of comprehensive income include changes in the &#34;Other Comprehensive Income&#34; line item, as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Adjustment to fair value - Gains/(Losses):
this includes the net income amount, after deducting expenses incurred during the year, recognized directly in equity. The amounts recognized
in equity for the year remain in this line item, even if they are transferred to the income statement or to the initial carrying amount
of assets or liabilities, or reclassified to another line item within the same year.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Amounts transferred to the income
statement: these include the revaluation gains and losses previously recognized in equity, even if within the same fiscal year, which
are recognized in the income statement.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Amounts transferred to the initial
carrying amount of the hedged item: these include the revaluation gains and losses previously recognized in equity, even if within the
same fiscal year, which are recognized in the initial carrying amount of assets or liabilities as a result of cash flow hedges.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Other reclassifications: these
include the value of transfers made during the year among various fair value adjustment items.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In the consolidated statements of comprehensive
income, &#34;Other Comprehensive Income&#34; is recognized on a gross basis, including amounts related to non-controlling interests,
and the corresponding tax effect is presented in a separate line item, except for entities that apply the equity method of accounting,
whose amounts are presented net of the tax effect.&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Financial Assets Affecting
Equity</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a.1) Financial Assets Measured at Fair
Value through Other Comprehensive Income</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Other Comprehensive Income &#8211; Financial
Assets Measured at Fair Value through Other Comprehensive Income includes the net amount of unrealized changes in the fair value of assets
classified as measured at Fair Value through Other Comprehensive Income (<B>note 6</B>), net of taxes.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown, by type of instrument and
the issuer's geographical origin, of adjustments in Other Comprehensive Income &#8211; Financial Assets Measured at Fair Value through
Other Comprehensive Income (IFRS 9) as of December 31, 2024, is as follows:</P>



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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of other comprehensive income financial assets measured at fair value</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 52%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 12%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Revaluation gains</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 12%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Revaluation losses</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 12%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Net recognized gains/losses</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 12%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Fair value</B></FONT></TD></TR>

  <TR>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt Instruments</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Government securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">825,610</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,604,296)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,778,686)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">86,437,770</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Private securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,043,223</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(429,081)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,614,142</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,621,137</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,868,833</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(5,033,377)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(2,164,544)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>92,058,907</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD COLSPAN="4" STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Revaluation gains</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Revaluation losses</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Net recognized gains/losses</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Fair value</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Debt Instruments</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Government securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,533,250</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,437,728)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,095,522</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">58,841,921</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Private securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,864</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(568,948)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(558,084)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">194,216</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,544,114</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(2,006,676)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>537,438</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>59,036,137</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Revaluation gains</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Revaluation losses</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Net recognized gains/losses</B></FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Debt Instruments</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Government securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,460,128</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,544,087)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,083,959)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">54,809,740</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Private securities</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(707,433)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>55,392,178</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">At each market disclosure, Banco Santander
assesses whether there is any objective evidence that the instruments classified as Financial Assets at Fair Value through Other Comprehensive
Income (debt securities) present signs of impairment due to non-recovery.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Cash Flow Hedge</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Other Comprehensive Income - Cash Flow
Hedge includes gains or losses attributable to hedging instruments that qualify as effective hedges. These amounts will remain under this
line item until they are recognized in the consolidated statements of comprehensive income for the periods affected by this hedge (<B>note
8</B>).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Foreign investment hedge
and Foreign Investment translation adjustments</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Other Comprehensive Income - Net investment
in foreign operations hedges includes the net amount of changes in the value of instruments designated as hedges for net investments in
foreign operations. In 2022, this hedge was discontinued (<B>note 8.a.5</B>).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Foreign investment translation adjustments
include the net amount of differences arising from translating the balances of consolidated entities whose functional currency is not
the Brazilian Real into Brazilian Reais (<B>note 2.a</B>).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_031"></FONT>26.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Non-controlling interests</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Non-controlling interests
refer to the net value of the equity equivalence of the portion of profit or loss attributable to equity instruments that do not belong,
directly or indirectly, to the Bank, including the portion of annual profit attributed to subsidiaries.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Composition</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The balance of the &#34;Non-controlling
Interests&#34; line item is detailed below:&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 84 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of balance of equity - non-controlling interests</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>335,447</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>403,350</B></FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Rojo Entretenimento S.A.</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,226</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,165</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco Hyundai Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">324,819</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">268,859</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Return Capital Gest&#227;o de Ativos e Participa&#231;&#245;es S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(9,379)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Toro Corretora de T&#237;tulos e valores Mobili&#225;rios Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">112,023</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Toro Investimentos S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,640</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Solution 4fleet Consultoria Empresarial S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,017</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Fit Economia de Energia S.A.</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Am&#233;rica Gest&#227;o Servi&#231;os em Energia S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,784</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid; width: 70%">&#160;<FONT STYLE="display: none">Schedule of balance of profit attributable to non-controlling interests</FONT></TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; text-align: center; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; text-align: center; width: 15%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Profit attributable to non-controlling interests</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>48,257</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>49,499</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprising:</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco PSA Finance Brasil S.A.</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,068</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Rojo Entretenimento S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">977</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">697</FONT></TD></TR>
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    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Banco Hyundai Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">61,493</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">50,530</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Return Capital Gest&#227;o de Ativos e Participa&#231;&#245;es S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,287)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,774)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Toro Corretora de T&#237;tulos e Valores Mobili&#225;rios Ltda.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,212)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Toro Investimentos S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,253</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Solution 4Fleet Consultoria Empresarial S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">416</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Ap&#234;11 Tecnologia e Neg&#243;cios Imobili&#225;rios S.A. (Ap&#234;11)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,278)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Fit Economia de Energia S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,272)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Am&#233;rica Gest&#227;o Servi&#231;os em Energia S.A.</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,070)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Changes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The changes in the balance of &#34;Non-controlling
interests&#34; are summarized in the table below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="display: none">Schedule of changes in the balance of non-controlling interests</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Balance at the beginning of the fiscal year</FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>403,350</B></FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>497,342</B></FONT></TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>334,349</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Incorporation / Acquisition</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(112,710)</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(134,214)</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,446</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Dividends paid / Interest on Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,790)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,432)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Capital increase</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">66,957</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Profit attributable to non-controlling interests</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48,257</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,499</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">52,382</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,450)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,487)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">30,640</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance at the end of the fiscal year</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>335,447</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>403,350</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>497,342</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 8pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_032"></FONT>27.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Shareholders&#8217; equity</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Share capital</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In accordance with the Bylaws, Banco Santander's
Capital may be increased up to the limit of the authorized capital, regardless of statutory reform, upon deliberation by the Board of
Directors and through the issuance of up to 9,090,909,090 (nine billion, ninety million, nine hundred and nine thousand and ninety) shares,
observing the legal limits established regarding the number of preferred shares. Any capital increase exceeding this limit will require
shareholder approval.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">At the Ordinary General Meeting held on
April 26, 2024, the increase in share capital in the amount of R$10,000,000,000.00
(ten billion reais) was approved, without the issuance of new shares, through the capitalization of part of the balance of the statutory
profit reserve. In this way, the share capital of Banco Santander Brasil becomes R$65,000,000,000.00 (sixty-five billion reais).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The share capital, fully subscribed and
paid up, is divided into registered, book-entry shares with no nominal value.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 85 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="display: none">Schedule of divided into registered book-entry shares with no par value</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-top: #EE2724 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of shares</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 40%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Common</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Preferred</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Common</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Preferred</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Brazilian residents</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">138,618</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">164,502</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">303,120</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">124,804</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">150,621</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">275,425</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Foreign residents</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,680,077</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,515,334</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,195,411</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,693,891</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,529,215</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,223,106</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total shares</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,818,695</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,679,836</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,498,531</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,818,695</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,679,836</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,498,531</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(-) Treasury shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(19,452)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(19,452)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(38,904)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(27,193)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(27,193)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(54,386)</FONT></TD></TR>

  <TR>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom; width: 40%; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total outstanding</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,799,243</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,660,384</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,459,627</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,791,502</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,652,643</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,444,145</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify; color: red"><B>b) Dividends and interest
on equity</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Company's bylaws ensure that shareholders
receive a minimum dividend of 25% of their net profit for each fiscal year, adjusted in accordance with the law. Preferred shares do not
have voting rights and cannot be converted into common shares, but they have the same rights and benefits granted to common shares, in
addition to priority in the distribution of dividends and an additional 10% on dividends paid to common shares, and in the reimbursement
of capital, without premium, in the event of the Bank's dissolution.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The dividends were calculated and paid
in accordance with Brazilian Corporation Law.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Before the Annual General Meeting of Shareholders,
the Board of Directors may resolve to declare and pay dividends from the profits earned, based on: (i) balance sheets or retained earnings
reported in the most recent balance sheet, or (ii) balance sheets prepared for periods shorter than six months, provided that the total
dividends paid in each half of the fiscal year do not exceed the value of the capital reserves. These dividends are fully attributed to
the mandatory dividends.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Below, we present the distribution of Dividends
and Interest on Equity made on December 31, 2024 and December 31, 2023.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of distribution of dividends and interest on equity</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD COLSPAN="7" STYLE="border-top: #EE2724 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD COLSPAN="6" STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Real per Thousand Shares / Units</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.15pt -1.3pt 1.5pt 2.65pt; text-align: center">&#160;</TD>
    <TD ROWSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Thousand of&#160;&#160;Reais</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Gross</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Net</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Common</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Preferred</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Units</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Common</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Preferred</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Units</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 30%; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest on Capital (1)(5)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,500,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">191.84</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">221.02</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">412.86</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">163.06</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">179.37</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">342.43</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest on Capital (2)(5)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,500,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">191.62</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">210.78</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">402.40</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">162.88</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">179.16</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">342.04</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest on Capital (3)(5)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,500,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">191.67</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">210.83</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">402.50</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">162.92</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">179.21</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">342.13</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest on Capital (4)(5)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,300,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">166.10</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">182.71</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">348.81</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">141.18</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">155.30</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">296.48</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Dividends (4)(5)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">200,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">25.55</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">28.11</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">53.66</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">25.55</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">28.11</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">53.66</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>6,000,000</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Deliberated by the Board of Directors on January 11, 2024, paid on February 8, 2024, without
any remuneration as monetary adjustment.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>Deliberated by the Board of Directors on April 10, 2024, paid on May 15, 2024, without any
remuneration as monetary adjustment.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(3)</TD><TD STYLE="width: 5pt"></TD><TD>Deliberated by the Board of Directors on July 10, 2024, paid on August 9, 2024, without any
remuneration as monetary adjustment.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(4)</TD><TD STYLE="width: 5pt"></TD><TD>Deliberated by the Board of Directors on October 10, 2024, paid on November 8, 2024, without
any remuneration as monetary adjustment.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(5)</TD><TD STYLE="width: 5pt"></TD><TD>They were fully attributed to the mandatory minimum dividends distributed by the Bank for
the 2024 financial year.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="7" STYLE="border-top: #EE2724 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD COLSPAN="6" STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Real per Thousand Shares / Units</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD ROWSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Thousand of&#160;&#160;Reais</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Gross</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Net</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Common</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Preferred</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Units</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Common</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Preferred</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Units</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 30%; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest on Capital (1)(5)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,700,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">217.92</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">239.71</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">457.63</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">185.23</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">203.75</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">388.98</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest on Capital (2)(5)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,500,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">192.03</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">211.23</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">403.26</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">163.22</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">179.55</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">342.77</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest on Capital (3)(5)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,500,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">192.07</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">211.28</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">403.35</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">163.26</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">179.58</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">342.84</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest on Capital (4)(5)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,120,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">143.42</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">157.76</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">301.18</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">121.91</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">134.10</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">256.00</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Dividends (4)(5)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">380,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">48.66</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">53.53</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">102.19</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">48.66</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">53.53</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">102.19</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>6,200,000</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Approved by the Board of Directors on January 19, 2023, paid on March 6, 2023, without any
remuneration as monetary adjustment.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>Approved by the Board of Directors on April 13, 2023, paid on May 15, 2023, without any remuneration
as monetary adjustment.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(3)</TD><TD STYLE="width: 5pt"></TD><TD>Approved by the Board of Directors on July 13, 2023, paid on August 16, 2023, without any
remuneration as monetary adjustment.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(4)</TD><TD STYLE="width: 5pt"></TD><TD>Approved by the Board of Directors on October 10, 2023, paid on November 10, 2023, without
any remuneration as monetary adjustment.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(5)</TD><TD STYLE="width: 5pt"></TD><TD>They were fully attributed to the mandatory minimum dividends distributed by the Bank for
the 2023 financial year.</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 86 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->85<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Reserves</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The net income, after deductions and legal
provisions, will be allocated as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Legal reserve</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In accordance with Brazilian corporate
legislation, 5% towards the legal reserve until it reaches 20% of the capital. This reserve is established to protect the integrity of
the share capital and may only be utilized to offset losses or to increase the capital.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Capital reserve</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank's capital reserve comprises: goodwill
reserves from the subscription of shares and other capital reserves, and may only be used to absorb losses that exceed retained earnings
and profit reserves; redemption, repurchase, or acquisition of the Bank's own shares; addition to the share capital; or payment of dividends
to preferred shares under specific circumstances.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Dividend equalization reserve</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">After the distribution of dividends, any
remaining balance, upon a proposal by the Executive Board and approval by the Board of Directors, may be allocated to the establishment
of a reserve for dividend equalization, limited to 50% of the Share Capital. This reserve is designed to secure funds for dividend payments,
including in the form of Interest on Equity, or their advances, with the objective of maintaining the payout flow to shareholders.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>d) Treasury shares</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">At a meeting held on January 24, 2024,
the Board of Directors approved, in continuation of the Repurchase Program that expired on the same date, a new Repurchase Program for
Units and ADRs issued by Banco Santander, directly or through its branch in Cayman, for maintenance in treasury or subsequent sale.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Buyback Program covers the acquisition
of up to 36,205,005 Units, representing 36,205,005 common shares and 36,205,005 preferred shares, which corresponded, on December 31,
2024, to approximately 1% of the Bank's share capital. On December 31, 2024, Banco Santander had 356,245,448 common shares and 384,049,858
preferred shares outstanding.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The purpose of the buyback is to (1) maximize
value generation for shareholders through efficient management of the capital structure; and (2) enable the payment of directors, management-level
employees and other employees of the Bank and companies under its control, under the terms of the Long-Term Incentive Plans. The term
of the Buyback Program is up to 18 months from February 6, 2024, ending on August 6, 2025.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of treasury shares</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 70%; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.65pt -1.3pt 1.5pt 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Quantity</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Quantity</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Units</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Units</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Treasury shares at beginning of the period</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>27,193</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>31,161</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Shares Acquisitions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,770</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,272</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Payment - Share-based compensation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(10,511)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(5,240)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Treasury shares at end of the period</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>19,452</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>27,193</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Balance of Treasury Shares in thousand of Reais</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$882,936</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$1,105,012</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 2.15pt 0 0">&#160;</P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1.5pt">Emission Costs in thousands of Reais</P></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$1,771</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$1,771</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Balance of Treasury Shares in thousands of Reais</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>R$884,707</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>R$1,106,783</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 70%"><FONT STYLE="display: none">Schedule of cost share price</FONT></TD>
    <TD STYLE="text-align: center; width: 15%">&#160;</TD>
    <TD STYLE="text-align: center; width: 15%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Cost/Share Price</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Units</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Units</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Minimum cost (*)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$7.55</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$7.55</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Weighted average cost (*)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$27.46</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$27.62</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Maximum cost (*)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$49.55</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$49.55</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #4D4D4D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Share Price</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$24.93</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">R$31.00</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(*)</TD><TD STYLE="width: 5pt"></TD><TD>Since the beginning of trading on the stock exchange.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Additionally, for the fiscal year ended
December 31, 2024, trading of treasury shares resulted in a gain of R$25,163 (2023 &#8211; gain of R$27,921),
which was directly recognized in equity under capital reserves.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 87 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->86<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_033"></FONT>28.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Earnings per share</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a) Basic earnings per share</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Basic earnings per share are calculated
by dividing the net profit attributable to the Parent Company by the weighted average number of shares outstanding during the year, excluding
the average number of treasury shares held over the same period.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of basic earnings per share</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Profit attributable to the Parent</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,365,506</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,449,313</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>14,287,093</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Earnings
    per share (in Reais BRL)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #222222"><B>Basic Profit per 1,000 shares (in Reais - BRL)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Common shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,708.02</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,208.83</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,831.43</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Preferred shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,878.82</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,329.71</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,014.57</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Net
    Profit attributable - Basic (in Reais BRL)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Common shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,488,760</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,587,598</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,936,588</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Preferred shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,876,746</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,861,715</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,350,505</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Weighted average shares outstanding (in thousands) - Basic</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Common shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,799,003</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,795,082</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,787,533</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Preferred shares</FONT></TD>
    <TD STYLE="border-bottom: #494949 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,660,144</FONT></TD>
    <TD STYLE="border-bottom: #494949 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,656,223</FONT></TD>
    <TD STYLE="border-bottom: #494949 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,648,674</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify"><B>b) Diluted earning per share</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Diluted earnings per share is calculated
by dividing the net profit attributable to the Parent Company by the weighted average number of shares outstanding during the year, excluding
the average number of treasury shares held over the same period, and including the potential dilutive effect of long-term compensation
programs.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of diluted earning per share</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 55%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Profit attributable to the Parent</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,365,506</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,449,313</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>14,287,093</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Earnings per share (in Reais - BRL)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #222222"><B>Diluted
    earnings per 1,000 shares (in Reais - BRL) (1)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Common shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,708.02</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,208.83</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,831.43</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Preferred shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,878.82</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,329.71</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,014.57</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Net
    Profit attributable - Basic (in Reais - BRL) (1)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Common shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,488,760</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,587,598</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,936,588</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Preferred shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,876,746</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,861,715</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,350,505</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Weighted average shares outstanding (in thousand) - Diluted</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Common shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,799,003</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,795,082</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,787,533</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #494949 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Preferred shares</FONT></TD>
    <TD STYLE="border-bottom: #494949 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,660,144</FONT></TD>
    <TD STYLE="border-bottom: #494949 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,656,223</FONT></TD>
    <TD STYLE="border-bottom: #494949 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,648,674</FONT></TD></TR>
  </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">(1)</FONT></TD><TD STYLE="width: 5pt"></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">Since
                                            the exercise price of the benefit programs presents an average, in the periods presented,
                                            are higher than the average market price of the shares, its its dilutive effect are not computed.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_034"></FONT>29.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Fair value of financial assets
and liabilities</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">According to IFRS 13, the measurement of
fair value using a fair value hierarchy that reflects the model used in the measurement process must comply with the following hierarchical
levels:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Level 1:</B> Determined based on unadjusted
public price quotations in active markets for identical assets and liabilities, including public debt securities, equities, and listed
derivatives.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Level 2:</B> Represents derivatives
of data other than the quoted prices included in Level 1, which are observable for the asset or liability, either directly (such as prices)
or indirectly (derived from prices).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Level 3:</B> Derived from valuation
techniques that incorporate data for assets or liabilities not based on observable market variables (non-observable data).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Financial Assets and Liabilities Measured
at Fair Value through Profit or Loss or through Other Comprehensive Income</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Level 1:</B> Securities and financial
assets characterized by high liquidity and observable prices in an active market are classified within level 1. This level includes most
Brazilian Government Securities (notably LTN, LFT, NTN-B, and NTN-F), stocks listed on the stock exchange, and other securities traded
in the active market.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 88 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->87<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Level 2:</B> When price quotes are not
observable, Management, utilizing its own internal models, makes its best estimate of the price that would be established by the market.
These models rely on data based on observable market parameters as a key reference. The most reliable evidence of the fair value of a
financial instrument at initial recognition is the transaction price, unless the fair value can be derived from other market transactions
involving the same or similar instruments, or can be determined using a valuation technique where the variables used include only observable
market data, particularly interest rates. These securities are classified at level X of the fair value hierarchy and primarily consist
of Government Securities (NTN-A), repurchase agreements, cancellable LCI, and are in a market that is less liquid than those classified
at level 1.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Level 3:</B> In cases where information
is not based on observable market data, Banco Santander employs internally developed models to accurately measure the fair value of these
instruments. Instruments with low liquidity are primarily classified at level 3.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Derivatives</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Level 1:</B> Derivatives traded on stock
exchanges are classified within level 1 of the hierarchy.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Level 2:</B> Derivatives traded over-the-counter,
in the valuation of financial instruments (mainly swaps and options), observable market data such as exchange rates, interest rates, volatility,
correlations between indices, and market liquidity are typically utilized.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In pricing the referenced financial instruments,
the Black-Scholes model methodology (exchange rate options, interest rate index options, caps, and floors) and the present value method
(discounting future values based on market curves) are employed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Level 3:</B> Non-exchange traded derivatives,
for which there is no observable information in an active market, have been classified as level 3, encompassing exotic derivatives.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="border-bottom: black 1pt solid; padding: 2.65pt -1.3pt 1.5pt 2.65pt; width: 20%; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Category</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2.65pt -1.3pt 1.5pt 2.65pt; width: 17%; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Type Asset/Liability</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2.65pt -1.3pt 1.5pt 2.65pt; width: 21%; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Valuation technique</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2.65pt -1.3pt 1.5pt 2.65pt; width: 42%; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Main unobservable inputs</B></FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Linear derivatives</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Coupon Fra</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">BMF Closing Prices</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Currency Coupon rate - long term </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Inflation Swap</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Discounted cash flow</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">IGPM Coupon rate</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest Rate Swap</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Discounted cash flow</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pre-fixed rates &#8211; long term</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD ROWSPAN="4" STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Non linear derivatives</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equities Options</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Black&amp;Scholes</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Implicit volatility- long term </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Inflation Options</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Black&amp;Scholes</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">IPCA Implicit volatility- long term </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest Rate Options</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Black&amp;Scholes</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">IDI Implicit volatility- long term </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Currency Options</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Black&amp;Scholes</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">USD/BRL Implicit volatility- long term </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD ROWSPAN="3" STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Cash</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pension Plan Liability</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Actuarial Model</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">IGPM Coupon rate</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Private Bonds</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Discounted cash flow</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Discount rate (&#34;Yields&#34;)</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Public Bonds</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Discounted cash flow</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">NTN-C and TDA Discount rate (&#34;Yields&#34;) </FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Put options</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Put Options</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Discounted cash flow</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Growth and Discount rates</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">The table below provides a summary of the
fair values of financial assets and liabilities for the fiscal years ended on December 31, 2024 and 2023, classified according to
the various measurement methods the Bank has adopted to determine their fair value.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="display: none">Schedule of fair values of financial assets and liabilities</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 52%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 1 </B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 2 </B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 3</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Financial Assets Measured At Fair Value Through Profit Or Loss</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>90,905,041</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>132,973,627</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>7,123,218</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>231,001,886</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt instruments </FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">88,260,075</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">15,624,289</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">3,700,691</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">107,585,055</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Equity instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,644,966</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">296,834</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">27,023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,968,823</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">39,468,524</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">707,294</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">40,175,818</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,223,593</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,688,210</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">4,911,803</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Reserves at the Central Bank of Brazil </FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">75,360,387</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">75,360,387</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Financial Assets Measured At Fair Value Through Other Comprehensive Income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>88,640,516</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>3,438,024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>92,078,540</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">88,620,903</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">3,438,004</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">92,058,907</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Equity instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">19,613</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">20</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">19,633</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Hedging derivatives (assets) </B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">30,481</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>30,481</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Financial Liabilities Measured At Fair Value Through Profit Or Loss</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>82,213,242</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>509,368</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>82,722,610</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">38,771,080</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">509,368</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">39,280,448</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Short positions </FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">39,396,666</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">39,396,666</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Bonds and securities obligations</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">4,045,496</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">4,045,496</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #494949 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Hedging derivatives (liabilities) </B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #494949 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #494949 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">129,826</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #494949 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #494949 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">129,826</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 5pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 89 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 52%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%">&#160;</TD>
    <TD STYLE="border-top: red 1pt solid; width: 12%; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12/31/2023</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 1 </B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 2 </B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 3</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Financial Assets Measured At Fair Value Through Profit Or Loss</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>76,857,391</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>125,495,820</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>6,568,685</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>208,921,896</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">74,213,933</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">6,115,373</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">3,961,886</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">84,291,192</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Equity instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,643,458</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">743,991</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">34,705</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">3,422,154</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">27,450,135</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,819,517</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">29,269,652</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,288,135</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">752,577</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">3,040,712</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Reserves at the Central Bank of Brazil</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">88,898,186</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">88,898,186</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Financial Assets Measured At Fair Value Through Other Comprehensive Income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>54,822,917</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,618,535</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>2,610,638</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>59,052,090</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">54,818,332</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,618,535</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,599,270</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">59,036,137</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Equity instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">4,585</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">11,368</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">15,953</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Hedging derivatives (assets)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>25,069</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>25,069</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Financial Liabilities Measured At Fair Value Through Profit Or Loss</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>48,667,180</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>914,261</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>49,581,441</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">22,849,596</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">914,261</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">23,763,857</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Short positions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">19,831,991</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">19,831,991</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Bonds and securities obligations</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">5,985,593</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">5,985,593</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Hedging derivatives (liabilities)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,176,571</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,176,571</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Level 3 Fair Value Changes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The tables below detail the transactions that occurred during the year
2024 and 2023 assets and liabilities classified as Level 3 in the fair value hierarchy:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of fair value hierarchy</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD ROWSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 50%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Fair Value</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Gains/ losses (Realized/Not Realized)&#160;</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Transfers to Level 3</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Additions / Low</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Fair value</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>12/31/2023</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>12/31/2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Financial Assets Measured At Fair Value Through Profit Or Loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">6,568,685</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(67,560)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(4,276,225)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">4,898,318</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">7,123,218</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Financial Assets Measured At Fair Value Through Other Comprehensive Income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,610,638</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(167,705)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(98,568)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,093,659</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">3,438,024</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Financial Liabilities Measured At Fair Value In Profit Or Loss Held For Trading</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">914,261</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(214,958)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(189,987)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">52</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">509,368</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  </TABLE>
<P STYLE="font: 5pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD ROWSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 50%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Fair Value</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Gains/ losses (Realized/Not Realized)&#160;</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Transfers to Level 3</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Additions / Low</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Fair value </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>12/31/2022</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>12/31/2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Financial Assets Measured At Fair Value Through Profit Or Loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">3,652,114</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(50,682)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,093,895</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,873,358</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">6,568,685</FONT></TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Financial Assets Measured At Fair Value Through Other Comprehensive Income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">1,503,441</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(14,026)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">2,610,638</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Financial Liabilities Measured At Fair Value In Profit Or Loss Held For Trading</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">233,762</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">(109,800)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">384,082</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">406,217</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">914,261</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify"><B>Fair Value Changes Linked to Credit
Risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Fair value changes attributable to credit
risk are determined based on fluctuations in credit default swap prices relative to similar obligations of the same debtor, when such
prices are observable, as credit default swaps more accurately reflect the market's assessment of credit risks for a specific financial
asset. When these prices are not observable, the fair value changes attributable to credit risk are calculated as the total of fair value
changes not attributable to shifts in the benchmark interest rate or other observable market rates. In the absence of specific observable
data, this approach provides a reasonable approximation of the changes attributable to credit risk, estimating margin changes over the
benchmark value that the market may demand for the financial asset.</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>


<!-- Field: Page; Sequence: 90 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Financial assets and liabilities not
measured at fair value</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank's financial assets are measured
at fair value in the consolidated balance sheet, except for financial assets measured at amortized cost.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Similarly, the Bank's financial liabilities,
excluding those held for trading and those measured at fair value, are measured at amortized cost in the consolidated balance sheet.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>i) Financial assets measured at a value
other than fair value</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Below, we present a comparison between
the carrying amounts of the Bank's financial assets measured at values other than their fair values and their respective fair values as
of December 31, 2024, 2023 and 2022:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of financial assets measured at other than fair value and their respective fair values</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 50%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Accounting Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Fair Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 1</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 2</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 3</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Open market investments&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,084,254</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,084,254</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,084,254</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Financial Assets Measured At Amortized Cost:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Loans and amounts due from credit institutions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">30,177,627</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">30,177,627</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,757,021</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,420,606</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">561,178,111</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">554,791,402</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">554,791,402</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt instruments&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">84,529,222</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">84,380,507</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">34,616,776</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,763,731</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Reserves at the Central Bank of Brazil&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">92,439,824</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">92,439,824</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">92,439,824</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>805,409,038</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>798,873,614</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>71,701,030</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>99,196,845</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>627,975,739</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12/31/2023</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Accounting Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Fair Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 1</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 2</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 3</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Open market investments&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,122,550</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,122,550</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,122,550</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Financial Assets Measured At Amortized Cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Loans and amounts due from credit institutions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,716,845</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,716,845</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,980,557</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,736,288</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">514,936,423</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">514,905,503</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">514,905,503</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt instruments&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">101,087,321</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">102,199,262</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">35,646,863</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,033,706</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">62,518,693</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Reserves at the Central Bank of Brazil</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">81,969,532</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">81,969,532</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">81,969,532</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>746,832,671</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>747,913,692</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>58,769,413</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>88,983,795</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>600,160,484</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify"><B>ii) Financial liabilities measured
at a value other than fair value</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Below, we present a comparison between
the carrying amounts of the Bank's financial liabilities measured at values other than their fair values and their respective fair values
as of December 31, 2024, and 2023:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of financial liabilities measured at other than fair value and their respective fair values</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 50%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Accounting Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Fair Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 1</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 2</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 3</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Financial Liabilities at Measured Amortized Cost:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Deposits of credit institutions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">158,565,482</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">158,565,482</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">35,608,595</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">122,956,887</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Customer deposits&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">605,068,163</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">605,831,373</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">81,663,106</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">524,168,267</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Marketable debt securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">135,632,632</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">137,664,088</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">137,664,088</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt instruments Eligible Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">23,137,784</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">23,137,784</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">23,137,784</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Other financial liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">79,177,179</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">79,177,179</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">79,177,179</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>1,001,581,240</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>117,271,701</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>887,104,205</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Accounting Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Fair Value</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 1</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 2</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Level 3</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Financial Liabilities at Measured Amortized Cost:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Deposits of credit institutions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">118,511,957</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">118,511,957</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">21,632,841</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">96,879,116</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Customer deposits&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">583,220,576</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">582,530,160</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">97,165,180</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">485,364,980</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Marketable debt securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">124,397,422</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">124,265,003</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">124,265,003</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt instruments Eligible Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">19,626,967</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">19,626,967</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">19,626,967</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Other financial liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">64,793,584</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">64,793,584</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">64,793,584</FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 50%; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Other financial liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>910,550,506</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>909,727,671</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>118,798,021</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>790,929,650</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  </TABLE>
  <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<!-- Field: Page; Sequence: 91 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->90<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">The methodologies and assumptions applied
in estimating fair value are outlined below:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Loans and other receivables from credit
institutions and customers</B> - The fair value is estimated for groups of similar credit transactions. The fair value of loans is determined
by discounting future cash flows using the interest rates of new contracts. In other words, the future cash flow of the current loan portfolio
is projected based on contractual rates, and then, spreads derived from new loans are incorporated into the risk-free interest rate curve
to calculate the fair value of the loan portfolio. Regarding behavioral assumptions, it is important to underscore that the prepayment
rate is applied to the loan portfolio, thereby enabling a more realistic projection of future cash flows.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Deposits from credit institutions and customers </B>- The fair value of the deposits was calculated by discounting the difference between
the cash flows under contractual conditions and the current market rates for instruments with similar maturities. The fair value of variable-rate
time deposits was considered to be close to their carrying amount.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Liabilities arising from securities
</B>- The fair values of these items were estimated by calculating the discounted cash flows, using the market interest rates for liabilities
with similar terms and maturities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Debt Instruments Eligible as Capital</B>
&#8211; these refer to the transaction fully executed with a related party, within the context of the Capital Optimization Plan, whose
carrying amount is similar to the fair value.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The valuation techniques employed for estimating
each level are detailed in <B>note 2.e</B>.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Management reviewed the criteria for classifying
the fair value level of assets and liabilities measured at amortized cost, which are presented exclusively for disclosure purposes, and
concluded that they are more appropriately classified as level 3, given the observable market data.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_055"></FONT>30.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Operational Ratios</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Brazilian Central Bank requires financial
institutions to maintain a Regulatory Capital (RC), Tier 1 Capital, and Common Equity Tier 1 Capital (CET1) that are compatible with the
risks inherent in their activities, exceeding the minimum Required Regulatory Capital, represented by aggregating the credit risk, market
risk, and operational risk components.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As established in CMN Resolution No. 4,958/2021,
the Regulatory Capital requirement is set at 11.50%%, comprising 8.00% of Minimum Regulatory Capital, 2.50% of Capital Conservation Buffer,
and 1.00% of Systemic Risk Buffer. The Tier 1 Capital Ratio stands at 9.50%, and the Minimum Common Equity Tier 1 Capital is 8.00%. Continuing
with the implementation of the rules set forth by CMN Resolution No. 4,955/2021, the calculation of capital adequacy ratios is conducted
on a consolidated basis, utilizing data from the Prudential Conglomerate, as established by CMN Resolution No. 4,950/2021, demonstrated
below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of financial
    conglomerate</FONT> &#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: rgb(238,39,35) 1pt solid; border-bottom: rgb(109,109,109) 1pt solid; width: 70%; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: rgb(238,39,35) 1pt solid; border-bottom: rgb(109,109,109) 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: rgb(238,39,35) 1pt solid; border-bottom: rgb(109,109,109) 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tier I Regulatory Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">85,562.9</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">81,259.1</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Principal Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">77,547.6</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">75,042.8</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Supplementary capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,015.3</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,216.3</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tier II Regulatory Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,488.4</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,644.2</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Regulatory Capital (Tier I and II)&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>101,051.2</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>94,903.3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929">Credit Risk (1)&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">603,286.5</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">560,780.9</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Market Risk (2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">43,523.7</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,002.7</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Operational Risk&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">60,643.3</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">60,491.1</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929"><B>Total RWA (3)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>707,453.5</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>654,274.7</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Basel I Ratio</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12.09</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12.43</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Basel Principal Capital</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10.96</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11.48</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Basel Regulatory Capital&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>14.28</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>14.51</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/120% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Credit risk exposures subject
to capital requirement calculations under the standardized approach (RWACPAD) are based on the procedures established by BCB Resolution
No. 229, dated May 12, 2022.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/120% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Includes the portions for
                                                                                                                                             market risk exposures subject to variations in interest rates (RWAjur1), foreign currency coupons (RWAjur2), price indexes
                                                                                                                                             (RWAjur3), and interest rate coupons (RWAjur4), the price of commodities (RWAcom), the price of shares classified in the trading
                                                                                                                                             portfolio (RWAacs), portions for exposure to gold, foreign currency and operations subject to exchange rate variation (RWAcam), and
                                                                                                                                             adjustment for derivatives arising from variation in the counterparty's credit quality (RWAcva).. Risk Weighted Assets or risk
                                                                                                                                             weighted assets.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/120% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Risk Weighted Assets or risk
weighted assets.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 0 53.4pt; text-align: justify">&#160;</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander discloses its Risk Management
Report on a quarterly basis, which includes information on risk management, a concise description of the Recovery Plan, capital management,
RC, and RWA. The report, providing more detailed insights into the assumptions, framework, and methodologies, is available at www.santander.com.br/ri.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial institutions are required to
maintain the allocation of funds to fixed assets in alignment with the adjusted Regulatory Capital level. The funds allocated to fixed
assets, determined on a consolidated basis, are limited to 50% of the value of the adjusted Regulatory Capital, as per current regulations.
Banco Santander is in compliance with the established requirements.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 92 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_035"></FONT>31.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Interest and similar income</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Interest and similar income in the consolidated
income statement comprise interest accrued during the year on all financial assets with either an implicit or explicit return, calculated
by applying the effective interest method, irrespective of the fair value measurement, and adjustments to income as a result of hedge
accounting. Interest is recognized on a gross basis, without the deduction of withholding taxes.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the main items of interest
and similar income earned in 2024, 2023 and 2022 is presented below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;<FONT STYLE="display: none">Schedule of breakdown of the main items</FONT> <FONT STYLE="display: none">of interest and similar charges accrued</FONT> </TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Cash and balances with the Brazilian Central Bank</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,990,483</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,807,832</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,202,362</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances - Credit institutions&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,992,514</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,234,602</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,722,311</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances - Customers&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">75,859,217</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">81,330,804</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">73,596,047</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">29,500,935</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">24,195,031</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,001,700</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pension Plans (note 21)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">36,014</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">36,973</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,587</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other interest</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,804,315</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,677,465</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,683,111</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>137,183,478</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>128,282,707</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>115,225,118</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 1pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_036"></FONT>32.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Interest
                                                                                                                                                                             and similar expenses</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Interest and similar expenses&#34;
in the consolidated income statement consist of interest accrued in the year on all financial liabilities with implicit or explicit return,
including remuneration in kind, calculated using the effective interest method, regardless of the measurement of the fair value, cost
adjustments as a result of hedge accounting and interest costs attributed to pension funds.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the main items of interest
and similar charges accrued in 2024, 2023 and 2022 is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of breakdown  interest and similar charges accrued</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Deposits from credit institutions&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,905,425</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,828,381</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,736,736</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Customer deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">58,469,742</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48,543,885</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">38,508,954</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Marketable debt securities and subordinated liabilities:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Marketable debt securities (note 18)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,778,418</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,998,766</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,951,908</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt Instruments Eligible to Compose Capital (note 19)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,523,206</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,925,772</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">863,394</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pension Plans (note 21)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">241,133</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">189,138</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">176,224</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other interest (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,586,994</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,912,731</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,484,725</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>80,504,918</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>81,398,673</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>67,721,941</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>It is mainly composed of Expenses with Interest on Repo Agreements</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_037"></FONT>33.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Equity instrument income</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The &#34;Equity Instrument Income&#34;
line item encompasses dividends and payments received as well as the profits generated by invested entities after the acquisition of equity
instruments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the balance for this line
item is presented below:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of breakdown of the balance income equity instruments</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Equity instruments classified as:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Assets Measured At Fair Value Through Profit Or Loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">31,626</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,658</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,985</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial Assets Measured At Fair Value Through Other Comprehensive Income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">52,021</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,521</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,088</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>83,647</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>22,179</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>38,073</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_038"></FONT>34.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Fee and commission income</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The &#34;Fee and Commission Income&#34;
line item includes all fees and commissions accrued to the Bank's benefit during the year, excluding those that are incorporated into
the effective interest rate on financial instruments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the balance for this line
item is presented below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of breakdown of fee and commission</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Collection and payment services:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Bills</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">961,360</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,040,113</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,097,170</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Demand accounts</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,965,171</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,940,423</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,917,271</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Cards (Credit and Debit) and Acquiring Services</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,663,921</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,528,718</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,890,549</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Checks and other</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">87,459</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">98,884</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">109,014</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Orders</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,095,150</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">905,907</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">751,766</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,773,061</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,514,045</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,765,770</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
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<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<!-- Field: Page; Sequence: 93 -->
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 55%; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Marketing of non-Banking financial products:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Investment funds</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">573,929</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">510,695</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">568,455</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Insurance and brokerage commissions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,183,116</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,646,974</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,524,201</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Capitalization plans</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">622,573</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">712,660</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">803,052</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,379,618</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,870,329</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,895,708</B></FONT></TD></TR>
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<P STYLE="font: 10pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 55%; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Securities services:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Securities underwriting and placement</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,077,297</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,167,677</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,017,763</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Securities trading</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">329,009</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">291,167</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">325,960</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Administration and custody</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">984,656</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">898,058</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">704,936</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Asset management</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">418</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,645</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">890</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,391,380</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,358,547</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,049,549</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Other:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Foreign exchange</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,835,203</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,856,492</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,888,194</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial guarantees</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">884,711</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">757,770</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">678,908</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other fees and commissions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,401,014</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,097,595</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">959,594</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,120,928</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,711,857</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,526,696</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>23,664,987</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>22,454,778</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>21,237,723</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;&#160;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 1pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_039"></FONT>35.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Fee and commission expenses</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The &#34;Fee and Commission Expenses&#34;
line item reflects the total amount of fees and commissions paid or payable during the year, excluding those that are incorporated into
the effective interest rate on financial instruments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the balance for this line
item is presented below:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of fees and commissions&#160;paid or payable</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commissions assigned to third parties (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,541,274</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,147,976</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,918,115</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other fees and commissions&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,918,504</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,666,837</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,443,728</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,459,778</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,814,813</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,361,843</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Primarily consisting of credit cards.</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_040"></FONT>36.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Gains (losses) on financial
assets and liabilities (net)</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Gains (losses) on financial assets and
liabilities comprise the fair value adjustments of financial instruments, excluding those related to accrued interest from applying the
effective interest method and provisions, as well as the gains or losses incurred from buying or selling financial instruments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the balance for this line
item, categorized by type of instrument, is presented below:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="display: none">Schedule of breakdown of the balance of this item,
by type of instrument</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 55%; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;Financial
    Assets Measured At Fair Value Through Profit Or Loss (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(641,147)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,440,830</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,801,086</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;Financial Assets Not Measured At Fair Value Through Profit Or Loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(180,427)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(463,844)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(239,777)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Of which: Financial assets at fair value through other comprehensive income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(105,789)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(42,405)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(42,552)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;&#160;Equity instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(74,638)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(421,439)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(197,225)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;<B>Of
    which: Financial Assets Measured At Fair Value Through Other Comprehensive Income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#160;&#160;&#160;&#160;Gains or losses from hedge accounting, net&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(537,100)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(247,467)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(407,973)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,358,674)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,729,519</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,153,336</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Includes the foreign exchange hedge of the Bank&#8217;s
position in Cayman (note 23).</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 94 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->93<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_041"></FONT>37.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Foreign exchange fluctuations
(net)</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Foreign exchange fluctuations reflect the
gains or losses on currency transactions, the changes resulting from the conversion of monetary items from a foreign currency to the functional
currency, and the gains or losses recognized on non-monetary foreign currency assets at the time of disposal.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="display: none">Schedule of exchange differences</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: top; width: 55%; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 15%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Revenue with Exchange Variations</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">121,821,934</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">104,400,557</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">170,221,459</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Expenses with Exchange Variations</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(120,334,255)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(103,335,390)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(169,675,569)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,487,679</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,065,167</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>545,890</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 1pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_042"></FONT>38.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Other Operating Expenses
(Net)</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the &#34;Other Operating
Income (Expenses)&#34; line item is presented below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of other operating income and expenses</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other operating income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,135,725</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">714,363</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">885,774</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other operating expense</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,172,124)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(866,732)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,238,328)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Contributions to fund guarantee of credit - FGC</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(615,722)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(563,421)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(488,448)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(652,121)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(715,790)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(841,002)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_043"></FONT>39.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Personnel expenses </B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Breakdown</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the &#8220;Personnel Expenses&#8221;
line item is presented below:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;<FONT STYLE="display: none">Schedule of personnel expenses</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Wages and salaries</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,087,141</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,640,403</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,311,240</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Social security costs</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,692,382</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,654,056</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,431,129</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Benefits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,753,478</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,659,195</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,602,744</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Defined benefit pension plans (note 21)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,280</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,867</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,447</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Contributions to defined contribution pension plans</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">215,685</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">180,926</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">128,091</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Share-based compensation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">294,088</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">163,695</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,876</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Training</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">68,043</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">61,686</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">59,832</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other personnel expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">480,899</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">450,098</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">317,636</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,597,996</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,813,926</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,896,995</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 95 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->94<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify; color: red"><B>b) Stock-based compensation</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify">Banco Santander has long-term compensation
programs linked to the market price performance of its instruments (Local and Global shares/options). The members of Banco Santander's
Executive Board are eligible for these plans, in addition to participants who have been determined by the Board of Directors, whose selection
takes into account seniority in the group. Members of the Board of Directors only participate in these plans when they hold positions
on the Executive Board.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>b.1) Local and Global Program</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="display: none">Schedule of share-based compensation</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt">&#160;</TD>
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    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
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    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom">&#160;</TD>
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  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
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  <TR>
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    <TD STYLE="vertical-align: bottom; width: 13%">&#160;</TD>
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    <TD STYLE="width: 1%; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$</FONT></TD>
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    <TD STYLE="width: 1%; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; width: 6%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
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  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">01/2023 to 12/2026</FONT></TD>
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    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,263</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,637</FONT></TD>
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    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD></TR>
  <TR>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">01/2023 to 12/2026</FONT></TD>
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    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">750,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">750,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
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  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">01/2022 to 12/2025</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2025</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">118,363</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">118,363</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">66,323</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">01/2021 to 12/2023</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,500,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">01/2021 to 10/2024</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2024</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,270,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">R$</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,490,000</FONT></TD>
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  <TR>
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    <TD ROWSPAN="2" STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Santander Brasil Bank Shares</B></FONT></TD>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">209,278</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD></TR>
  <TR>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">09/2020 to 09/2022</FONT></TD>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">217,291</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11 (2)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">222,178</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11 (2)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">01/2020 to 12/2022</FONT></TD>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
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    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
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    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD></TR>
  <TR>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">07/2019 to 06/2022</FONT></TD>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
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    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD></TR>
  <TR>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
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    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
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    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">304,594</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11</FONT></TD></TR>
  <TR>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">07/2019 to 06/2022</FONT></TD>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
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    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">292,537</FONT></TD>
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    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 6pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SANB11 (2)</FONT></TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
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    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">80,412</FONT></TD>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">159,253</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SAN (3)</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&#160;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom">&#160;</TD>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">420,394</FONT></TD>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">420,394</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Op. SAN Shares (3)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">832,569</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Op. SAN Shares (3)</FONT></TD></TR>
  <TR>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">117,601</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SAN (4)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">117,601</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SAN (4)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">124,184</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SAN (4)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">02/2024, with a limit for exercising the options until 02/2029</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">183,840</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Op. SAN Shares (4)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">350,839</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Op. SAN Shares (4)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">370,477</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Op. SAN Shares (4)</FONT></TD></TR>
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    <TD ROWSPAN="2" STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Santander Spain Shares and Options</B></FONT></TD>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">95,786</FONT></TD>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">95,786</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SAN (4)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">150,703</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">SAN (4)</FONT></TD></TR>
  <TR>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">367,827</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Op. SAN Shares (4)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">367,827</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Op. SAN Shares (4)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">578,713</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Op. SAN Shares (4)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2026</FONT></TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
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<!-- Field: Page; Sequence: 96 -->
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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  <TR>
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    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri; font-size: 8pt">&#160;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 3.35pt; line-height: 120%"><FONT STYLE="font-family: Calibri; font-size: 8pt">&#160;</FONT></TD>
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    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri; font-size: 8pt">&#160;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 6pt; line-height: 120%"><FONT STYLE="font-family: Calibri; font-size: 8pt">&#160;</FONT></TD>
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  <TR>
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    (4)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Calibri; font-size: 8pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Calibri; font-size: 8pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Calibri; font-size: 8pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Calibri; font-size: 8pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Calibri; font-size: 8pt">&#160;</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom"><FONT STYLE="font-family: Calibri; font-size: 8pt">&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri; font-size: 8pt">106,147</FONT></TD>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Plan target in Reais, paid in SANB11 shares according to the achievement of the plan's performance
indicators at the end of the vesting period, based on the price of the last 15 trading sessions of the month immediately prior to payment.</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Throughout 2024, 551,572 gross shares were paid
and the amount of R$1,820,000 was canceled due to non-achievement of the contracts' performance indicators.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>Long-Term Incentive Plans finalized, with 486,502 shares paid and 23,326 shares canceled
throughout 2024.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(3)</TD><TD STYLE="width: 5pt"></TD><TD>Plan completed with 100% achievement. The portion equivalent to 80,412 shares was paid in
cash in Mar/2024 (after the lockup) and 78,841 shares were canceled. The options may be exercised until the end of the period for exercise
in 2030, and in the period we had the cancellation of 412,175 options.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(4)</TD><TD STYLE="width: 5pt"></TD><TD>Target of the plan in shares and options on Global shares, to be paid in cash at the end
of the vesting period, according to the achievement of the plan's performance indicators.</TD>
</TR></TABLE>

<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3in">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Our long-term programs are divided into local
and global plans, with specific performance indicators and rules in the event of dismissal to be entitled to receive.</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Global ILP (Long Term Incentive) Plans)</B></P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">We currently have 5 global plans launched in
2019, 2020, 2021, 2022 and 2023. Eligible executives have target incentives in global shares and options, with payment after a minimum
deferral period of three years and settlement of the sale value of the Assets in reais.</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Pricing Model</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The pricing model is based on the Local Volatility
model or Dupire model, which allows simultaneous calibration of all quoted European options. In addition to this model, there is an extension
to deal with uncertainty in dividends, where part of the dividend value is considered confirmed, and the rest is linked to the performance
of the underlying. This extended model is integrated into a PDE engine, which numerically solves the corresponding stochastic differential
equation to calculate the expected value of the product.</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Data and assumptions used in the pricing model,
including the weighted average share price, exercise price, expected volatility, option life, expected dividends and the risk-free interest
rate</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">&#8226;</TD><TD STYLE="width: 5pt"></TD><TD>The weighted average share price (and exercise price) is &#8364;3.104 based on the 15-day
weighted average between 01/07/2022 and 01/27/2022</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">&#8226;</TD><TD STYLE="width: 5pt"></TD><TD>The expected volatility used was 33.80</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">&#8226;</TD><TD STYLE="width: 5pt"></TD><TD>Options expire on 02/01/2033</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">&#8226;</TD><TD STYLE="width: 5pt"></TD><TD>Expected dividends range from approximately 6.6 cents in the short term (2022) to approximately
5.75 cents per share per year in the long term (2030)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">&#8226;</TD><TD STYLE="width: 5pt"></TD><TD>The discount curve used gives a discount of 0.96 for 2030</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The exercise price, in all cycles and if the
objectives established in the regulations are achieved, will be the market price on the exercise date.</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Local ILP Plans (Long-Term Incentive)</B></P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Long-term incentive plans may be granted in accordance
with the strategy of new companies in the group or specific businesses, generally with a vesting period of 3 years.</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Each plan will have a specific contract and its
calculation and payment must be approved by the established governance, observing local and global regulatory resolutions.</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The reference value of each participant will
be converted into SANB11 shares, normally at the price of the last 15 trading sessions of the month immediately preceding the payment
of the plan.</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">At the end of the vesting period, payment of
either the resulting shares in the case of local plans or the value equivalent to the shares/options of global plans are made with a 1-year
restriction, and this payment is still subject to the application of the Malus/Clawback clauses. , which may reduce or cancel the shares
to be delivered in cases of non-compliance with internal regulations and exposure to excessive risks and in cases of material failure
to comply with financial reporting requirements, in accordance with Section 10D, of the Exchange Act (SEC) , applicable to companies with
shares listed on the NYSE.</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 97 -->
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<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Impact on Results</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The impacts on results are recognized in
the Personnel Expenses line item, as detailed below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
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    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Consolidated</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 8%">&#160;</TD>
    <TD STYLE="vertical-align: bottom; width: 71%">&#160;</TD>
    <TD STYLE="width: 7%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>01/01 to </B></FONT></TD>
    <TD STYLE="width: 7%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>01/01 to </B></FONT></TD>
    <TD STYLE="width: 7%; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>01/01 to </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2023</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Program</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Settlement Type</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Global</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Santander Spain shares and stock options</FONT></TD>
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  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>b.2) Stock-Based Variable Compensation</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The long-term incentive plan (deferral)
sets forth the criteria for the disbursement of future deferred portions of variable compensation, taking into account sustainable financial
foundations over the long term. This includes the possibility of applying reductions or cancellations in response to the risks undertaken
and the fluctuations in the cost of capital.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The variable compensation plan, which is
linked to Banco Santander shares, is divided into 2 programs: (i) Identified Group and (ii) Other Employees. The impacts on results are
recognized in the Personnel Expenses line item, as detailed below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="display: none">Schedule of variable remuneration referenced to shares</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 27%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 26%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 26%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 7%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>01/01 to</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 7%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>01/01 to</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 7%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>01/01 to</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Program</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Participant</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Liquidity Type</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2024</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12/31/2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Collective Identified</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Members of the Executive Committee, Statutory Officers and other executives who assume significant and responsible risks of control areas</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">50% in cash indexed to 100% of CDI and 50% and instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">139,470</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">156,962</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">8,228</FONT></TD></TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">50% in cash indexed to 100% of CDI and 50% and instruments</FONT></TD>
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<P STYLE="font: 1pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_044"></FONT>40.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Other Administrative Expenses</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Breakdown</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the balance for this line
item is as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">General maintenance expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">878,393</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">896,232</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">895,734</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Technology maintenance expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,409,697</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,383,988</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,577,479</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Advertising</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">516,448</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">521,964</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">540,593</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Communications</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">351,019</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">501,765</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">421,522</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Per diems and travel expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">201,195</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">163,057</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">72,647</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Taxes other than income tax</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">154,047</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">173,147</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">148,950</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Surveillance and cash courier services</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">474,477</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">524,680</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">548,759</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Insurance premiums</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,311</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,783</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,977</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Specialized and technical services</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,413,970</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,397,149</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,228,715</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Technical reports</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">409,138</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">512,257</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">425,767</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others specialized and technical services</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,004,832</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,884,892</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,802,948</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other administrative expenses (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,393,951</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,159,950</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">886,742</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8,818,508</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8,748,715</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8,343,118</B></FONT></TD></TR>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">As of December 31, 2024, this is predominantly comprised of Business Formalization Expenses
of R$1,001,084 (2023 &#8211; R$949,009 and 2022 - R$926,119), Data Processing Expenses of R$263,719 (2023 &#8211; R$157,010 and 2022
- R$155,326), Service Expenses of R$250,192 (2023 - income of R$152,065 and 2022 - R$52,165), and Recovery of Charges and Expenses of
R$558,296 (2023&#8211; R$304,025 and 2022 &#8211; R$435,717)</TD>
</TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>&#160;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Other Information</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The &#8220;Technical Reports&#8221; line
item encompasses the fees paid by the various entities within the Consolidated Group to their respective auditors, broken down as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; padding-top: 1.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of balance of technical reports</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; text-align: center">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; text-align: center">&#160;</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 66%; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 17%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 17%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Independent audit of the financial statements of the companies included in the consolidation scope</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">29,987</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,100</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Audit Related</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">588</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">300</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tax Services</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">105</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">215</FONT></TD>
    </TR>
      <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,980</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,885</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>32,660</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>30,500</B></FONT></TD>
    </TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The approximate tax amount, as per Law No. 12,741/2012
was R$5,687 (2023 - R$4,580).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_045"></FONT>41.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Gains (losses) on disposal
of assets not classified as non-current assets held for sale </B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the balance for this line
item is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">&#160;Schedule of gains losses on disposal
of assets not classified as non-current assets held for sale</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 55%; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Gains</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,854,664</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,038,003</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>62,951</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tangible and intangible assets&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">84,633</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">114,159</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">62,951</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Investments (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,770,031</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">923,844</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Losses</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(48,481)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(39,595)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(40,596)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Tangible and intangible assets&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(48,481)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(33,956)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(40,596)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Investments&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,639)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,806,183</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>998,408</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>22,355</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD><P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">In 2024, this refers to the Partnership operation
between Banco Santander (Brasil) S.A. and Pluxee International, as per the terms described in <B>Note 3.d</B>. In 2023, results from the
sale of 40% of Webmotors, as per <B>Note 3.l</B>.</P>
</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 99 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->98<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_046"></FONT>42.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Gains (losses) on disposal
and expenses on non-current assets held for sale not classified as discontinued operations</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown of the balance of this item
is as follows:&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of gains losses on disposal and expenses of
    non current assets</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Composition</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Net constitution of reversal of provision of non-financial assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">79,024</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">29,707</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">47,130</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Result on the Sale of non-financial assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">54,272</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">32,260</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">73,588</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Operating expenses of non-financial assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">(27,260)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">(16,772)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">(11,591)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>106,036</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>45,195</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>109,127</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/120% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_047"></FONT>43.</B></FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><B>Other disclosures</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Guarantees and commitments</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank offers a range of guarantees to help its clients improve their
credit standing and enable them to compete effectively. The table below details all the guarantees as of December 31, 2024 and 2023.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As required, the &#34;Maximum potential
value of future payments&#34; represents the notional amounts that could be regarded as a loss in the event of a total default by the
guaranteed parties, without taking into account possible recoveries from guarantees held or pledged, or recoveries on appeal. There is
no correlation between these values and the probable losses on these guarantees. In fact, the &#34;Maximum potential value of future
payments&#34; significantly exceeds the inherent losses.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule maximum potential amount of future payments</FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 70%; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Maximum potential amount of future payments</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Contingent liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Guarantees and other sureties</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">60,657,334</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">62,579,329</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial guarantees&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,246,872</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">44,891,226</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Performance guarantees</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,903,656</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,994,311</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial letters of credit</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,485,782</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,667,096</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,024</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,696</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other contingent exposures</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,730,419</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,091,932</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Documentary Credits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,730,419</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,091,932</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total Contingent Liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>64,387,753</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>65,671,261</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Commitments</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Loan commitments drawable by third parties&#160;<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">205,309,683</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">177,455,391</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total Commitments</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>205,309,683</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>177,455,391</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>269,697,436</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>243,126,652</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Includes approved and unutilized limits for overdrafts, credit cards, and other similar facilities.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank provides its clients with financial
guarantees in commitments with third parties. The Bank retains the right to seek reimbursement from clients for any amounts it is required
to pay under these guarantees. Additionally, cash or other forms of high liquidity collateral may be held against these commitments. These
contracts are subject to the same credit assessment process as that applied to loans.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank expects that these guarantees
will expire without the need for any cash advances. Therefore, in the normal course of operations, the Bank anticipates that these transactions
will have virtually no impact on its liquidity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Performance guarantees are issued to secure
clients' commitments, such as contractually specified investments, and to provide specified products, basic goods, or maintenance or warranty
services to third parties, ensuring project completion in accordance with contractual terms, among other obligations. Included within
standby letters of credit are guarantees for loan repayment, credit lines, promissory notes, and commercial acceptances. The Bank invariably
requires collateral to issue this type of financial guarantee. In documentary credits, the Bank acts as a payment intermediary between
commercial entities across different countries (import/export operations). In these transactions, the parties involved handle documents
rather than the actual goods these documents represent. Typically, the basic goods traded serve as collateral for the transaction, and
the Bank may extend certain credit lines. Commitments for loans redeemable by third parties primarily encompass most credit card lines
and commercial commitments. Credit card lines may be unilaterally terminated by the issuer. Commercial commitments are generally one-year
lines, contingent upon the client providing requisite information.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The risk criteria for issuing all types
of guarantees, standby letters of credit, documentary credits, and all signature risks are generally the same as those used for other
credit risk products and, therefore, are subject to the same admission and monitoring standards. Guarantees provided on behalf of clients
undergo the same credit quality review process as any other credit risk product. Regularly, at least once a year, the solvency of clients
is assessed, as well as the likelihood of these guarantees being executed. Should there be any doubt regarding a client's solvency, provisions
are recognized in net profit for the amount of inherent losses, even if no legal proceedings have been initiated against the Bank.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 100 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->99<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The recognition of provisions for impairment
losses related to guarantees and other sureties (<B>note 9.c</B>) is recorded under the line item Impairment losses on financial assets
(net) in the consolidated statement of income, and the methodology for its calculation is detailed in <B>note 2.i</B>.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Furthermore, the liability recognized as
deferred income for the premium received for providing these guarantees is being amortized over the life of the related guarantees and
totals R$300,711 (2023 - R$282,613 and 2022 - R$307,296).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Managed funds not recognized
on the balance sheet</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander manages funds in which
it does not hold a significant stake, does not act as a &#34;principal,&#34; and has no equity interest. Based on the contractual relationship
that governs the management of these funds, other equity holders are exposed to, or have rights to variable returns and are able to influence
these returns through their decision-making authority. Additionally, the Bank act as manager of these funds by analyzing the remuneration
regime, which is proportional to the services rendered. Therefore, there is no indication that the fund is &#34;principal&#34; <B>(note
2.w</B><FONT STYLE="font-weight: normal">).</FONT></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Following are the funds managed by
Banco Santander not recognized on its balance sheet:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-left: 2.65pt"><FONT STYLE="display: none">&#160;Schedule of funds managed by
Banco Santander not recognized on its balance sheet</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 66%; padding-top: 1.4pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 17%; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 17%; padding-top: 1.4pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Funds under investment management (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">134,133</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,871,919</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Administered  Funds</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">242,717,969</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">291,736,828</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>242,852,102</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>303,608,747</B></FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">(1) In 2024, fund management was transferred to Santander Asset.</P>
<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify; color: red"><B>c) Third-party securities
held in custody</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As of December 31, 2024, the Bank held
in custody third-party debt securities and securities totaling R$51,196,827
(2023 - R$80,174,807).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>d) Residual maturity</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The breakdown, by maturity, of the balances
of Financial Assets and Financial Liabilities in the consolidated balance sheet is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of residual maturity</FONT> </TD>
    <TD STYLE="padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 29%; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 10%; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 11%; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-align: right"><B>On </B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt; text-align: right"><B>Demand</B></P></TD>
    <TD STYLE="padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-align: right"><B>Up to</B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt; text-align: right"><B>3 Months</B></P></TD>
    <TD STYLE="padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-align: right"><B>3 to</B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt; text-align: right"><B>12 Months</B></P></TD>
    <TD STYLE="padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-align: right"><B>1 to</B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt; text-align: right"><B>3 Years</B></P></TD>
    <TD STYLE="padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-align: right"><B>3 to</B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt; text-align: right"><B>5 Years</B></P></TD>
    <TD STYLE="padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 2.15pt 0 0; text-align: right"><B>After 5</B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt; text-align: right"><B>Years</B></P></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Assets:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Cash&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,131,969</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,952,285</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,084,254</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">110,385</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">28,818,116</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">43,426,801</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">80,644,990</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">56,763,284</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">74,409,608</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">284,173,184</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,117,553</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">571,818</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">198,961</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100,124</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,988,456</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and amounts due from credit institutions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41,763</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,746,688</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,400,946</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,206,990</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,157,811</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">623,429</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">30,177,627</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances to customer</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">38,842,391</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">149,527,493</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">112,549,440</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">147,550,348</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">68,790,302</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48,829,940</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">566,089,914</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,753</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,117,638</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">588,359</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,411,051</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,701,330</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,365,168</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">40,206,299</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Balances with the Brazilian Central Bank</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">167,800,211</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">167,800,211</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>224,067,025</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>224,734,038</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>161,164,507</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>258,913,503</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>133,412,727</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>126,228,145</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,128,519,945</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Liabilities:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial liabilities at amortized cost:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Deposits from credit institutions (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,388,235</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">72,720,534</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">66,515,869</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,938,966</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,038,443</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">963,435</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">158,565,482</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Customer deposits (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">227,425,242</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">184,353,360</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">87,235,595</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">46,521,772</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">59,474,729</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">57,465</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">605,068,163</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Marketable debt securities&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,042,497</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,980,720</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42,216,454</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">55,260,981</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,177,476</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">139,678,128</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt Instruments Eligible to Compose Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,137,784</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,137,784</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other financial liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,121,506</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">20,529,202</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,482,333</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,652,435</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,377,824</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,879</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">79,177,179</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Short positions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">972,415</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,728,931</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,637,952</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,872,654</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,184,714</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,396,666</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,506,806</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,611,956</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,539,932</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,652,110</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,099,470</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,410,274</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>231,934,983</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>306,124,814</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>173,555,404</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>157,507,511</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>142,676,741</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>72,634,223</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,084,433,676</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>&#160;Difference (assets less liabilities)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(7,867,958)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(81,390,776)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(12,390,897)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>101,405,992</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(9,264,014)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>53,593,922</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>44,086,269</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&#160;</P>


<!-- Field: Page; Sequence: 101 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 29%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 11%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>

  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 29%; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>On <BR>
Demand</B></FONT></TD>
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3 Months</B></FONT></TD>
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12 Months</B></FONT></TD>
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3 Years</B></FONT></TD>
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5 Years</B></FONT></TD>
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Years</B></FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Assets:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Cash&#160;</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,909,011</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,122,550</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">412,242</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">69,310,969</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,259,106</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">120,485,997</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">36,519,808</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,426,528</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">244,414,650</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,768,129</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">365,129</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">155,528</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">149,321</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,438,107</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and amounts due from credit institutions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">54,683</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,259,224</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,100,331</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,974,320</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">320,376</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,911</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,716,845</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances to customer</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">24,033,838</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">130,798,304</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">120,472,284</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">136,237,815</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">56,969,138</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,465,756</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">517,977,135</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,780</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,346,217</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">874,329</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,727,138</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,035,989</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,283,268</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">29,294,721</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Balances with the Brazilian Central Bank</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">170,867,718</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">170,867,718</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>207,377,929</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>228,988,854</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>135,861,578</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>288,574,591</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>94,845,311</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>59,183,463</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,014,831,726</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Liabilities:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial liabilities at amortized cost:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Deposits from credit institutions (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">397,566</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">43,944,781</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">57,342,156</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,884,064</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,024,168</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,919,222</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">118,511,957</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Customer deposits (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">73,434,602</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">248,146,746</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">105,182,508</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">99,181,326</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">53,188,713</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,086,681</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">583,220,576</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Marketable debt securities (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,968,517</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">35,762,179</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">67,809,219</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,612,849</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,244,658</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">124,397,422</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt Instruments Eligible to Compose Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">391,121</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">812,411</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,260,717</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,416,688</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,746,030</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,626,967</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other financial liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,492,807</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,473,357</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,863,003</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">43,925,800</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">38,617</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">64,793,584</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Short positions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">722,785</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,672,459</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,182,266</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,741,410</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,513,071</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,831,991</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,344,309</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,013,055</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,858,091</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,674,379</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,050,594</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">24,940,428</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>75,324,975</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>326,991,616</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>208,647,771</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>240,101,483</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>63,696,824</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>40,560,256</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>955,322,925</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Difference (assets less liabilities)</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>132,052,954</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(98,002,762)</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(72,786,193)</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>48,473,108</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>31,148,487</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>18,623,207</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>59,508,801</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Includes liabilities that may be subject to early settlement, comprising: demand and time
deposits, repurchase agreements with clients, Real Estate Credit Notes (LCI), and Agribusiness Credit Notes (LCA).</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>e) Equivalent value of assets
and liabilities in BRL</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The main foreign currency balances recorded
in the consolidated balance sheet, based on the nature of the respective items, are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of main foreign currency balances</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Equivalent Value in Thousand of Reais</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 52%; padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="width: 12%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Assets</B></FONT></TD>
    <TD STYLE="width: 12%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Liabilities</B></FONT></TD>
    <TD STYLE="width: 12%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Assets</B></FONT></TD>
    <TD STYLE="width: 12%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Liabilities</B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Cash&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,500,450</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,163,790</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial ssets/liabilities measured at fair value through profit or loss held for trading</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,413,853</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,658,267</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,524,235</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,258,857</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial assets measured at fair value through other comprehensive income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,148,639</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Financial assets/liabilities measured at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">105,973,276</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">174,910,624</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">76,408,125</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">133,451,264</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>142,887,579</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>187,568,891</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>115,244,789</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>137,710,121</B></FONT></TD>
    </TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 5pt; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>f)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Other Commitments</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander leases properties, primarily
for use as branches, under a standard lease agreement that it may terminate at its discretion. This agreement includes a renewal option
and adjustment clauses, falling within the concept of operational leasing.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The total of future minimum lease payments
under non-cancellable operational leases is presented below:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of future minimum payments of non-cancellable operating leases</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 66%; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 17%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 17%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Up to 1 Year</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">469,244</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">582,294</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Between 1 to 5 Years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,004,390</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,132,409</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">More than 5 Years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">139,324</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">734,431</FONT></TD>
    </TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,612,958</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,449,134</B></FONT></TD>
    </TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">Additionally, Banco Santander holds indefinite-term
contracts, amounting to R$431 (2023 - R$649), corresponding to the monthly lease payments for contracts of this nature.
Lease payments, recognized as expenses in the fiscal year of 2024, totaled R$256,371 (2023 - R$326,745).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Lease agreements will be adjusted annually
in accordance with prevailing legislation, where the maximum adjustment is based on the fluctuation of the General Market Price Index
(&#34;IGPM&#34;). The lessee is granted the right to unilaterally terminate these agreements at any time, pursuant to contractual clauses
and current legislation.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>g) Contingent assets</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As of December 31,2024 and 2023, contingent assets were not recognized in the accounting records.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 102 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->101<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_048"></FONT>44.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Business segment reporting</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In accordance with IFRS 8, an operating
segment is defined as a component of an entity:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">That engages in activities from
which it can generate income and incur expenses (including income and expenses arising from transactions with other components of the
same entity);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Whose operational results are
regularly reviewed by the entity&#8217;s chief decision-maker responsible for operational decisions regarding the allocation of resources
to the segment and assessment of its performance; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">For which separate financial
information is available.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Based on these guidelines, the Bank has
identified the following reportable operating segments:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Commercial Bank</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#8226; Global Wholesale Bank (SCIB)</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank operates across two segments:
the Commercial Segment, catering to both individual and corporate clients (excluding global corporate clients, who are served in the Global
Wholesale Banking Segment), and the Global Wholesale Banking Segment, which encompasses Investment Banking and Markets operations, including
the Treasury and Equity Business Departments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank operates both in Brazil and internationally
through its branches in Cayman and Luxembourg, as well as its subsidiary in Spain, serving Brazilian clients. Accordingly, it does not
present geographical segmentation.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Income Statements and other relevant
data are as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.15pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="display: none">Schedule of income statements and other significant data</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 55%; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(Condensed) Income Statement</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 15%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Commercial Banking&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 15%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Global Wholesale Banking</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 15%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>NET INTEREST INCOME</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>51,563,173</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,115,387</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>56,678,560</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity instrument income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,109</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">78,538</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">83,647</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Income from companies accounted for by the equity method</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">259,321</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">53,665</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">312,986</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Net fee and commission income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,943,536</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,261,673</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,205,209</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Gains (losses) on financial assets and liabilities (net) and Exchange differences (net)&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,487,662)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,616,667</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">129,005</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other operating expense (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(479,848)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(172,273)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(652,121)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>TOTAL INCOME</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>64,803,629</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8,953,657</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>73,757,286</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Personnel expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(10,534,033)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,063,963)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(11,597,996)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other administrative expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,835,919)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(982,589)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8,818,508)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,599,134)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(131,884)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,731,018)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Provisions (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,582,750)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(12,488)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,595,238)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment losses on financial assets (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(28,450,756)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(33,274)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(28,484,030)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment losses on non-financial assets (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(252,550)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">63</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(252,487)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other non-financial gains (losses)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,912,219</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,912,219</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>OPERATING PROFIT BEFORE TAX&#160;(1)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12,460,706</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,729,522</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,190,228</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Currency Hedge(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">664,616</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">664,616</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>ADJUSTED OPERATING INCOME BEFORE TAX&#160;(1)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,125,322</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,729,522</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,854,844</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" SUMMARY="xdx: Disclosure - Business segment reporting (Details)" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; width: 55%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; text-align: center; padding-top: 1.15pt; padding-bottom: 1pt; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; text-align: center; padding-top: 1.15pt; padding-bottom: 1pt; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; text-align: center; padding-top: 1.15pt; padding-bottom: 1pt; width: 15%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD COLSPAN="3">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(Condensed) Income Statement</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Commercial Banking&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Global Wholesale Banking</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>NET INTEREST INCOME</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>44,651,967</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,232,067</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>46,884,034</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity instrument income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,514</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,665</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,179</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Income from companies accounted for by the equity method</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">184,889</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">54,347</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">239,236</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Net fee and commission income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,269,837</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,370,128</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,639,965</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Gains (losses) on financial assets and liabilities (net) and Exchange differences (net)&#160;<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,125,430)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,920,116</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,794,686</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other operating expense (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(595,993)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(119,797)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(715,790)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>TOTAL INCOME</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>56,388,784</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,475,526</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>65,864,310</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Personnel expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(9,753,972)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,059,954)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(10,813,926)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other administrative expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,866,949)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(881,766)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8,748,715)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,621,353)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(119,597)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,740,950)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Provisions (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,404,408)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(20,004)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,424,412)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment losses on financial assets (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(26,582,759)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,425,327)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(28,008,086)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment losses on non-financial assets (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(250,044)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(129)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(250,173)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other non-financial gains (losses)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,043,603</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,043,603</FONT></TD></TR>

  <TR>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>OPERATING PROFIT BEFORE TAX&#160;<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,952,902</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,968,749</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,921,651</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Currency Hedge<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(163,165)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(163,165)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>ADJUSTED OPERATING INCOME BEFORE TAX&#160;<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,789,737</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,968,749</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>11,758,486</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->102<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.15pt; padding-bottom: 1pt; width: 55%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; text-align: center; padding-top: 1.15pt; padding-bottom: 1pt; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; text-align: center; padding-top: 1.15pt; padding-bottom: 1pt; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; text-align: center; padding-top: 1.15pt; padding-bottom: 1pt; width: 15%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD COLSPAN="3">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(Condensed) Income Statement</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Commercial Banking</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Global Wholesale Banking</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>NET INTEREST INCOME</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>45,617,896</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,885,281</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>47,503,177</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity instrument income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,239</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,834</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">38,073</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Income from companies accounted for by the equity method</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">147,676</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">51,503</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">199,179</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Net fee and commission income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,538,806</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,337,074</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,875,880</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Gains (losses) on financial assets and liabilities (net) and Exchange differences (net)&#160;<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(360,383)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,059,609</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,699,226</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other operating expense (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(718,459)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(122,543)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(841,002)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>TOTAL INCOME</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>57,236,775</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,237,758</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>66,474,533</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Personnel expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8,985,721)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(911,274)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(9,896,995)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other administrative expenses</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,571,376)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(771,742)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8,343,118)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,479,643)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(105,859)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,585,502)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Provisions (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,207,531)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,959)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,215,490)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment losses on financial assets (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(23,682,848)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,145,901)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(24,828,749)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment losses on non-financial assets (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(160,479)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(955)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(161,434)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other non-financial gains (losses)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">131,482</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">131,482</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>OPERATING PROFIT BEFORE TAX&#160;<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,280,659</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,294,068</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,574,727</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Currency Hedge<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(129,406)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(129,406)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>ADJUSTED OPERATING INCOME BEFORE TAX&#160;<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,151,253</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,294,068</B></FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,445,321</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Includes, within the Commercial Bank, the foreign exchange hedge of the dollar investment
(a strategy to mitigate the tax effects and exchange rate fluctuations of offshore investments on net income), with its result recorded
in 'Gains (losses) on financial assets and liabilities,' fully offset in the Tax line.</TD>
</TR></TABLE>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of other aggregates</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="3" STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 55%; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Other aggregates:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Commercial Banking</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Global Wholesale Banking</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 15%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Total assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,143,663,122</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">95,133,688</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,238,796,810</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">484,849,401</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">81,240,513</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">566,089,914</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Customer deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">446,780,888</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">158,287,275</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">605,068,163</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" SUMMARY="xdx: Disclosure - Business segment reporting (Details 1)" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; width: 55%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: center; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: center; width: 15%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: center; width: 15%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="3" STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Other aggregates:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Commercial Banking</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Global Wholesale Banking</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Total assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,010,503,261</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">105,149,515</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,115,652,776</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">445,085,759</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">72,891,376</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">517,977,135</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Customer deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">425,724,599</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">157,495,977</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">583,220,576</FONT></TD></TR>
</TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_049"></FONT>45.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Related party transactions</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank's related parties include, in
addition to its subsidiaries, affiliates, and jointly-controlled entities, the key management personnel of the Bank and entities over
which such key management personnel may exert significant influence.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Santander has a Related-Party Transactions
Policy approved by the Board of Directors, designed to ensure that all transactions covered by the policy are conducted in the best interests
of Banco Santander and its shareholders. This policy grants the Board of Directors the authority to approve certain transactions. Additionally,
the established rules apply to all employees and administrators of Banco Santander and its subsidiaries.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 104 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->103<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Transactions and compensation for services
involving related parties are conducted in the ordinary course of business and on arm's length terms, encompassing interest rates, terms,
and guarantees, without entailing higher collection risks than usual or presenting any additional disadvantages.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Compensation of Key Management
Personnel</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For the period from January to December
of 2024, management proposed a total remuneration for the administrators (Board of Directors and Executive Board) of up to R$500,000,000
(five hundred million reais), encompassing fixed, variable, and stock-based compensation. This proposal underwent consideration at the
Ordinary General Meeting (OGM) held on April 26, 2024.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>i) Long and short-term benefits</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank, in line with Banco Santander
Spain and other subsidiaries globally within the Santander Group, maintains long-term compensation programs that are tied to the market
performance of its share price, contingent upon the achievement of specified targets.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The table below presents the Salaries and
Fees of the Board of Directors and Executive Management:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of board of directors&#8217; and executive board&#8217;s</FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 55%; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Fixed Compensation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">127,341</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">132,276</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">115,680</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Variable Compensation - in cash</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">110,111</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">126,181</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">117,730</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Variable Compensation - in shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">94,787</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">91,306</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">87,702</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">111,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">79,229</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">61,294</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Total Short-Term Benefits</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>443,239</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>428,992</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>382,406</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Variable Compensation - in cash</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">113,766</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">99,506</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">95,398</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Variable Compensation - in shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">102,388</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">96,361</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">99,827</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Total Long-Term Benefits</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>216,154</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>195,867</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>195,225</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>659,393</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>624,859</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>577,631</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">Additionally, in the fiscal year ended December
31, 2024, charges were collected on management remuneration in the amount of R$43,124 (2023 - R$40,863 and 2022 - R$36,747).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>ii) Contract termination</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The termination of the employment agreement
with Administrators, due to non-compliance with obligations or at the initiative of the contracted party, does not confer any right to
financial compensation, and their accrued benefits will be discontinued.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Loan operations</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In accordance with current legislation,
no loans or advances are granted when involving the following:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">I - Officers, Board of Directors and Audit
Committee members, as well as their respective spouses and second-degree relatives;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">II - Individuals or legal entities holding
an interest in Banco Santander's capital exceeding 10%;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">III - Legal entities in which Banco Santander
holds a capital interest exceeding 10%; and</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">IV - Legal entities, whose capital is held
by more than 10%, any of the directors, members of the Board of Directors and the Audit Committee or administrators of the financial institution
itself, as well as their spouses and respective relatives, up to the second degree.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Ownership interest</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The table below presents the direct equity
interests (ordinary and preference shares) as of December 31, 2024, December 2023 and 2022.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="display: none">Schedule of direct interest (common shares and preferred shares)</FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-top: #EE2724 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Common</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Preferred&#160;</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Common&#160;</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Preferred&#160;</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Stockholders'</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(thousand)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares (%)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(thousand)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares (%)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(thousand)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares (%)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Sterrebeeck B.V. (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,809,583</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47.4%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,733,644</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,543,227</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Grupo Empresarial Santander, S.L. (GES) (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,627,891</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42.6%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,539,863</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41.9%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,167,754</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Banco Santander, S.A.&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,696</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,696</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Directors (*)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,828</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,828</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,656</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">356,245</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.3%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">384,050</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.4%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">740,295</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,799,243</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>99.5%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,660,385</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>99.5%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,459,628</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>99.5%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Treasury shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,452</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,452</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">38,904</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,818,695</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,679,837</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,498,532</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Free Float&#160;(2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">356,245</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.3%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">384,050</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.4%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">740,295</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.9%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom-color: #EE2724; border-bottom-width: 1pt; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom-color: #EE2724; border-bottom-width: 1pt; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom-color: #EE2724; border-bottom-width: 1pt; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom-color: #EE2724; border-bottom-width: 1pt; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom-color: #EE2724; border-bottom-width: 1pt; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom-color: #EE2724; border-bottom-width: 1pt; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom-color: #EE2724; border-bottom-width: 1pt; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<!-- Field: Page; Sequence: 105 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->104<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-top: #EE2724 1pt solid; text-align: right; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Common</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Preferred&#160;</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="width: 10%; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Common&#160;</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Preferred&#160;</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Stockholders'</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(thousand)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares (%)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(thousand)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares (%)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(thousand)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares (%)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Sterrebeeck B.V.&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,809,583</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47.4%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,733,644</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,543,227</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Grupo Empresarial Santander, S.L. (GES) (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,627,891</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42.6%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,539,863</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41.9%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,167,754</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #292929; line-height: 120%">Banco Santander, S.A.&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,696</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,696</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Directors (*)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,184</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,184</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,368</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">348,148</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">375,952</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.2%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">724,100</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,791,502</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>99.3%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,652,643</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>99.3%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,444,145</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>99.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Treasury shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,193</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.7%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,193</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.7%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">54,386</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,818,695</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,679,836</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,498,531</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Free Float&#160;(2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">348,148</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">375,952</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.2%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">724,100</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.7%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Common</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Preferred&#160;</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Common&#160;</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Preferred&#160;</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Stockholders'</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(thousand)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares (%)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(thousand)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares (%)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(thousand)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Shares (%)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Sterrebeeck B.V. (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,809,583</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47.4%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,733,644</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,543,227</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">47.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Grupo Empresarial Santander, S.L. (GES) (1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,627,891</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42.6%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,539,863</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">41.9%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,167,754</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Banco Santander, S.A.&#160;(1)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,696</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,696</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&#8212;%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Administrators (*)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,444</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,444</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,888</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">342,919</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.0%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">370,723</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">713,642</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,787,533</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>99.2%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,648,674</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>99.2%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,436,207</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>99.2%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Treasury shares</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">31,162</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.8%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">31,162</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.8%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">62,324</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,818,695</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,679,836</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,498,531</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Free Float&#160;(2)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">342,919</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.0%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">370,723</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10.1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">713,642</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9.5%</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Companies of the Santander Spain
Group.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2)</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Comprised of Employees and Others.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(*)</TD><TD STYLE="width: 5pt"></TD><TD>None of the members of the Board of Directors and Executive Board holds 1.0% or more of any
class of shares.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>


<!-- Field: Page; Sequence: 106 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->105<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>d) Related-party transactions</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The following table presents the transactions
that occurred between the group's companies:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of principal transactions and balances assets and liabilities</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 44%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 7%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 7%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 7%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 7%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 7%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 7%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 7%">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 7%">&#160;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Parent
    (1) (4)&#160;</B></FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Joint-controlled companies and Other Related Party (2) (4)</B></FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Key Management Personnel (3)</B></FONT></TD>
    <TD COLSPAN="2" ROWSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Total </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Assets</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>18,182,830</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>18,816,451</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>28,222,527</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>24,551,973</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>58,891</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>36,813</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>46,464,248</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>43,405,237</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Derivatives Measured At Fair Value Through Profit Or Loss, Net&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(333,181)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,483,269</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(333,181)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,483,269</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt Instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">67,071</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">497,304</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">67,071</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">497,304</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Loans and other amounts with credit institutions - Availability and Applications in Foreign Currency (Overnight Applications)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,514,514</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,331,685</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">385,458</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">147,443</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,899,972</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,479,128</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Loans and other values with customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,571,123</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,747,834</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">36,420</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,463</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,607,543</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,771,297</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Other Assets&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,497</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,497</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">198,875</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">159,392</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">200,372</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">160,889</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Warranties and Limits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,471</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,350</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,471</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,350</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Liabilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(304,650)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(11,147,364)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(10,423,148)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(8,987,115)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(618,068)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(407,621)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(11,345,866)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(20,542,100)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Deposits from credit institutions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(11,181)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,030,951)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(596,956)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(227,688)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(608,137)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,258,639)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(519,000)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(150,000)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(39,904)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(76,365)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(558,904)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(226,365)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Customer deposits&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,946,618)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,375,954)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(29,246)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(26,553)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,975,864)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,402,507)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Other financial liabilities - Dividends and interest on equity payable</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,268,606)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,186,249)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,268,606)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,186,249)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Other Liabilities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(293,469)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(195)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(91,968)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(47,224)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(548,918)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(304,703)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(934,355)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(352,122)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Debt Instruments Eligible for Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,116,218)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,116,218)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2023</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040"><B>Income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(2,790,659)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,311,196</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,810,374</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,371,735</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(665,054)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(618,470)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(1,645,339)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,064,461</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Interest and similar income - Loans and amounts due from credit institutions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">268,957</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">349,749</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">45,881</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">155,654</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">314</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,835</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">315,152</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">508,238</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Warranties and Limits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,276</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,276</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Interest expense and similar charges </FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(625,820)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(871,324)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(149,293)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(261,360)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(665,501)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(638,304)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,440,614)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,770,988)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Fee and commission income (expense)&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,344)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(12,674)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,391,649</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,869,898</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">454</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,386,305</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,857,678</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Gains (losses) on financial assets and liabilities and exchange differences (net)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,157,771)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,056,710</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,232)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(548)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">108</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">269</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,158,895)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,056,431</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Other operating income (expenses)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">326,301</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">227,882</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">326,301</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">227,882</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Administrative expenses and amortization</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(270,681)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(211,265)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(642,983)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(459,842)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(913,664)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(671,107)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #404040">Profit from disposal of assets not classified as non-current assets held for sale</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(159,949)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(159,949)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(159,949)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(159,949)</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(1)</TD><TD STYLE="width: 5pt"></TD><TD>Parent - Banco Santander is indirectly controlled by Banco Santander Spain (<B>note 1</B>)
through its subsidiaries GES and Sterrebeeck B.V.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(2)</TD><TD STYLE="width: 5pt"></TD><TD>Related entities as disclosed in note 11.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(3)</TD><TD STYLE="width: 5pt"></TD><TD>Refers to the recording in clearing accounts of Guarantees and Limits on credit operations,
Provisions and Result of variable remuneration with Key Management Personnel.</TD>
</TR></TABLE><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(4)</TD><TD STYLE="width: 5pt"></TD><TD>To improve the presentation of certain transactions with related parties, some balances in the comparison as of December 31, 2023 were remeasured.</TD>
</TR></TABLE>

<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 107 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->106<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_050"></FONT>46.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Risk management</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Risk management at Banco Santander is based
on the following principles:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">A.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Risk function independence
from the commercial department.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">B.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Senior Management involvement
in decision-making.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">C.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Consensus between the Risk
and Commercial departments on lending decisions.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">D.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Collective decisions, involving
the branch network, aimed at fostering diversity of opinions and preventing the assignment of individual decisions.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">E.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Use of statistical forecasting
tools for default prediction, including internal ratings, credit scoring, behavior scoring, RORAC (Risk-Adjusted Return on Capital), VaR
(Value at Risk), economic capital, and scenario analysis, among other methods.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">F.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Global perspective, integrating
the management of risk factors across business units and employing economic capital as a uniform metric for assessing assumed risk and
evaluating management performance.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">G.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Common management instruments</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">H.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Organizational structure</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">I.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Scopes and responsibilities</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">J.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Risk limitation</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">K.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Recognition</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">L.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Efficient information channels</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">M.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Maintaining a medium-low risk
profile and low volatility through:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 6pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Portfolio diversification,
by limiting concentrations in clients, groups, sectors, products, or geographies; reducing the complexity of market operations; analyzing
the social and environmental risks of businesses and projects financed by the Bank; and continuous monitoring to prevent portfolio deterioration.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 6pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Establishment of policies and
procedures that constitute the Normative Risk Model, governing risk-related activities and processes in compliance with directives from
the Board of Directors, Brazilian Central Bank regulations, as well as international best practices, aiming to safeguard capital and ensure
the profitability of business operations.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">At Santander Brasil, the risk control and management
process was determined based on the Framework set forth at the corporate level, outlined according to the following phases:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">I.</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Adaptation of
risk management structures and policies in alignment with Banco Santander's risk management principles.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt 35.45pt; text-align: justify">The Corporate Risk Management Framework,
approved by Senior Management (Risks), is designed to establish the principles and standards for risk management and control at Banco
Santander. It is based on corporate organizational models and complies with the requisite regulatory standards for credit management.</P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt 35.45pt; text-align: justify">The organizational model consists of
the management map, which delineates the responsibilities of each area by risk type, the risk governance function, and the regulatory
framework itself.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">II.</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Risk identification
through continuous review and monitoring of exposures, assessment of new products and business ventures, and specific analysis of unique
transactions.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">III.</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Risk measurement
using periodically tested methods and models.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">IV.</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Preparation and
distribution of a comprehensive set of reports, which undergo daily review by the Executive Board of Banco Santander.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">V.</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Implementation
of a risk control system that assesses, on a daily basis, the extent to which the Bank's risk profile conforms to approved policies and
established limits. The most significant tools and techniques (previously mentioned), currently employed by Banco Santander, are at various
stages of maturity regarding their implementation and application within the Bank. For the wholesale segment, these techniques are aligned
with corporate-level development. For other segments, models based on internal classifications and score systems, VaR analysis, market
risk scenario analysis, and stress testing have already been integrated into the risk management routine, while the integration of expected
loss, economic capital, and RORAC into risk management is underway.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">VI.</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Models based on
internal classifications and score systems, which, by assessing the various qualitative and quantitative risk components for each client and transaction,
enable the estimation of the probability of default initially, and subsequently, the loss based on LGD estimates.</FONT></TD>
</TR></TABLE>


<!-- Field: Page; Sequence: 108 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->107<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">VII.</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Economic capital,
as a consistent measure of assumed risk and a basis for evaluating management performance.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">VIII.</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">RORAC,utilized both as a pricing tool in wholesale operations, particularly within global relationship companies (employing a bottom-up approach), and
in the analysis of portfolios and business units (using a top-down approach).</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">IX.</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">VaR, utilized
to control and set market risk limits for the treasury's various portfolios.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">X.</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Scenario analysis
and stress testing to complement market and credit risk assessments in order to evaluate the impact of alternative scenarios, including
on provisions and capital.</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: red"><B>a) Corporate Governance of the
Risk Function</B></P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">The structure of Banco Santander's Risk Committees
is defined in line with a prudent risk management standard, always in compliance with the local regulatory and normative environment.
Its primary responsibilities are the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">A.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Integrate and adapt the Bank's
risk culture to the local context, in addition to the risk management strategy, tolerance level, and risk appetite, previously approved
by the Executive Committee and the Board of Directors, all in alignment with the corporate standards of Banco Santander Spain;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">B.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Assess and approve proposals,
operations, and limits, whether related to credit or market, for clients and portfolios;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">C.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Conduct periodic monitoring
of all inherent business risks, ensuring that the risk profile is aligned with the established risk appetite;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">D.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Authorize the use of management
tools, local risk models, and understand the results of their internal validation;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">E.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Remain informed, assess, and
comply with any observations and recommendations that may periodically be issued by supervisory authorities in the execution of their
duties;</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">The credit risk management structure comprises
departments operating from a portfolio management perspective and units dedicated to the individualized analysis and decision-making on
loans for Individual, Business, and Wholesale clients. A specific area is tasked with consolidating the portfolios and their respective
risks, providing support to management, as well as to the Group's headquarters in Spain, offering an integrated risk view.</P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">The credit risk management structure comprises
departments operating from a retail and wholesale portfolio management perspective. A specific area is tasked with consolidating the portfolios
and their respective risks, providing support to management, as well as to the Group's headquarters in Spain, offering an integrated risk
view.</P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">A designated structure is responsible for attending
to regulators, supervisors, as well as internal and external auditors.</P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">It has a core called ERM-Enterprise Risk Management, integrated by a set of functions, transversal to all risks, necessary for their adequate management. This structure includes the areas of Methodology (development and parameterization of models); Credit Risk Control; Integrated Management and Relationship with Supervisors and Stress Test. In addition, the Strategy Risk Management department is the team responsible for managing and monitoring the Risk Culture.

</P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: red"><B>b) Credit Risk</B></P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>b.1) Introduction to credit risk management</B></P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #404040">Credit Risk Management supports
the formulation of strategies in alignment with risk appetite, while also setting limits that include the analysis of exposure and trends,
as well as assessing the effectiveness of the credit policy. The objective is to sustain a risk profile and sufficient minimum profitability
to offset the anticipated default, for both individual clients and the overall portfolio, as determined by the Executive Committee and
the Board of Directors. Moreover, it is tasked with overseeing the risk management systems and their implementation in the identification,
measurement, control, and mitigation of risk exposure in either individual or similarly grouped operations.</P>

<P STYLE="font: 9pt Segoe UI, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; color: #404040">Risk Management is specialized
according to client characteristics, distinguishing between individualized clients (monitored by dedicated analysts) and clients with
similar characteristics (standardized).</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt; color: #404040"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 6pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Individualized management &#8211;
Conducted by a designated risk analyst, who is responsible for the preparation of analyses, submission to the Risk Committee, and ongoing
monitoring of the client's progress. It applies to clients from the Global Wholesale Banking segment (Corporate and Santander Corporate
&amp; Investment Banking - SCIB) and Commercial Banking (Portfolio clients, Companies 3, as well as GIU-Governments, Institutions, and
Universities).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 6pt; color: #404040"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 6pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Segoe UI, Helvetica, Sans-Serif; font-size: 9pt">Standardized management &#8211;
Targeted at individuals and companies not classified as individualized clients. It relies on automated decision-making models and internal
risk assessment frameworks, supplemented by commercial units and specialized analyst teams to address exceptions.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Macroeconomic factors and market conditions,
as well as sector-wise and geographical concentrations, alongside the profiles of clients and economic forecasts, are also evaluated
and considered for a proper assessment of credit risk.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>b.2) Measures and evaluation tools</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Rating tools</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank employs its proprietary rating
models to assess the credit quality of a client or transaction. Each rating is linked to a probability of default or non-payment, determined
based on the Bank's historical experience, to predict default. These scores/ratings are utilized in the credit risk approval and monitoring
process.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 109 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->108<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The classification of credit exposures
into distinct categories is conducted based on an analysis of the client's financial and economic circumstances, as well as other registration
information that is regularly updated. New types of operations are subjected to a credit risk assessment and must be verified for compliance
with the controls adopted by the Bank.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The ratings assigned to clients are periodically
reviewed, incorporating the latest financial information and insights gained from the banking relationship. The frequency of these reassessments
is heightened for clients who reach specific thresholds in automated alert systems, as well as for those designated for special monitoring.
The rating tools are also continually reviewed and refined to ensure the accuracy of the ratings they assign is continually improved.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Credit risk parameters</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">We assess all loans with regard to the
provision for impairment losses on credit risk. Loans are individually assessed for impairment or collectively assessed through grouping
by similar risk characteristics. Loans that are individually evaluated for impairment losses are not assessed collectively.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To measure the impairment loss of loans
assessed individually for impairment, we consider the conditions of the borrowers, including their economic and financial status, level
of indebtedness, cash flow generation capacity, management quality, corporate governance, internal controls quality, payment history,
industry experience, contingencies, and credit limits. Additionally, we evaluate asset characteristics, such as their nature and purpose,
type, adequacy, and liquidity of collateral, drawing on historical impairment experience and other known circumstances at the time of
assessment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To measure the impairment loss on loans
assessed collectively for impairment, we segregate financial assets into groups based on their credit risk characteristics and similarities.
In other words, according to the segment, type of assets, collateral, and other factors related to historical impairment losses and other
known circumstances at the time of assessment. The impairment loss is calculated using statistical models that incorporate the following
factors:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Exposure At Default (EAD): refers to the
amount of a transaction exposed to credit risk, including the proportion of the current exposure of the outstanding balance that could
be realized in the event of default. The developed models incorporate assumptions to account for potential changes in the payment schedule.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Probability of Default (PD): denotes the
likelihood of a counterparty failing to fulfill its obligation to repay the principal and/or interest. Within the framework of IFRS 9,
this encompasses both the PD-12 months, which is the probability of the financial instrument defaulting within the next 12 months, and
the lifetime PD, which is the probability of the transaction defaulting over its remaining term. The estimation of these parameters requires
the consideration of relevant future information, as per the standard.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Loss Given Default (LGD): represents the
loss incurred upon default. In other words, it quantifies the percentage of exposure that was not recoverable following a default event.
The determination of LGD is primarily influenced by the collateral, which serves as a mitigator of the credit risk associated with each
financial asset, and the expected future cash flows to be recovered. In accordance with the standard, forward-looking information must
be considered in the estimation process.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Discount Rate: the rate applied to the
estimated future cash flows over the expected lifespan of the asset, which corresponds to the net present value of the financial instrument
relative to its carrying amount.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To estimate the aforementioned parameters,
the Bank leveraged its expertise in developing internal models for the calculation of parameters for both regulatory and management purposes.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The table presented in note 9.b outlines
the portfolio according to internal risk rating levels and their probability of default.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">The expected loan losses, measured using
sufficient and available historical data, are detailed below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT><FONT STYLE="display: none">Schedule of internal risk rating levels</FONT></FONT></TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; width: 55%; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>By maturity</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Less than 1 Year</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">320,774,167</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">287,366,871</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Between 1 and 5 years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">199,768,489</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">185,907,482</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">More than 5 years</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">79,145,188</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">78,261,850</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Loans and advances to customers, gross</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>599,687,844</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>551,536,203</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>By internal classification of risk</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Low</FONT></TD>
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<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 2pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 110 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->109<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
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  <TR>
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  <TR>
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  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - construction</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9%</FONT></TD></TR>
  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">62%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; padding-right: 2.65pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&#160;</TD>
    <TD ROWSPAN="2" STYLE="padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Exposure</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="border-bottom: #6D6D6D 1pt solid; padding-bottom: 10pt; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Probability of default</B></FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commercial and industrial</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">233,946,174</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Real Estate Credit - construction</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">61,747,722</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8%</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Individual loans</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">252,687,422</FONT></TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Leasing</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,154,886</FONT></TD>
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  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right">&#160;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify"><B>b.3) Observed losses: credit cost
measures</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Each month, the Bank estimates the losses
associated with credit risk and subsequently compares these estimates with the actual losses incurred during the month. Periodic analyses
are conducted to monitor and maintain control over credit risk.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To complement the use of admission and
rating models, Banco Santander employs additional measures to support the prudent and effective management of credit risk, based on observed
losses.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The cost of credit is calculated by adding
the loan losses incurred over the fiscal year to the average loan portfolio for the same period.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>b.4) Credit risk cycle</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander has a global perspective
of its loan portfolio across all stages of the risk cycle, with a level of granularity that enables the assessment of the current risk
situation and potential movements. This mapping is overseen by the Board of Directors and the Executive Committee of the bank, which are
responsible for setting risk management policies and procedures, limits, and delegating authority, in addition to approving and supervising
the department's operations.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The credit risk management process involves
the identification, measurement, analysis, control, negotiation, mitigation, and decision-making on the risks incurred in the operations
of the Bank and its affiliated entities within the Conglomerate. The credit cycle comprises three distinct stages:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Pre-sales: encompasses the planning
activities, goal setting, assessment of Banco Santander's risk appetite, approval of new products, risk analysis, credit rating procedures,
and definition of limits;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Sales: this involves the decision-making
process for pre-classified and specific operations; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">After-sales: this includes the
processes of monitoring, measurement, and control, as well as the management of the recovery process.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Planning and setting risk limits</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">This process identifies the Bank's risk
appetite by evaluating business proposals and assessing its risk position.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">It is determined based on the risk appetite
approved by the Bank's Management and its units.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In the context of individualized risks,
the client constitutes the foundational level, for whom specific limits are set.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For SCIB clients, a pre-classification
model is utilized, which is based on a system for measuring and monitoring economic capital. With respect to the Corporate segment, the
operational limit model is applied, utilizing maximum nominal credit values.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For clients under standardized risk management,
portfolio limits are established through loan management programs (LMP), a document that is pre-agreed upon by the business and risk departments,
and approved by the Executive Committee. This document specifies the expected outcomes for the business in terms of risk and return, as
well as the limits to which both the activity and risk management are subject. This client segment receives a more automated Risk treatment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Risk analysis and rating process</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Risk analysis is a prerequisite for the
Bank's credit approval for clients. This analysis involves examining the counterparty's ability to fulfill its contractual obligations
to the Bank, which includes assessing the client's credit quality, risk operations, solvency, and the intended return in light of the
assumed risk.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">This risk assessment is conducted at least
annually, and may be revised more frequently if warranted by the client's risk profile (due to centralized alert systems or visits from
the manager or credit analyst), or if there are specific transactions outside of the pre-classification.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>




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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->110<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
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<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Decision-making on operations</B></P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The decision-making process for operations
is designed to analyze and implement measures in accordance with pre-established policies, factoring in the risk appetite and any significant
elements of the operation for the purpose of assessing risk and return.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank employs, among other methodologies,
the RORAC (Risk-Adjusted Return on Capital) approach for analysis and pricing in its decision-making process concerning operations and
business activities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Risk monitoring and control</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In the retail banking segment for individual
customers, clients are systematically assessed through a daily credit scoring process.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">This process enables the reassessment of
credit exposure, allowing for increases in exposure for clients exhibiting good credit quality. In the event of detecting a deterioration
in risk level, it automatically triggers actions for credit risk containment and the implementation of preventive measures.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In instances of individualized management,
the preemptive detection of credit quality deterioration within an operation falls under the joint responsibility of the commercial manager
and the risk analyst. Furthermore, risk monitoring is conducted through a continuous observation process, aimed at the early identification
of incidents that may occur in the evolution of operations, clients, and their environment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">This monitoring may lead to the client's
classification under SCAN (a system designed to differentiate management levels and dictate the appropriate actions on a case-by-case
basis).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Risk control function</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The control function is executed by assessing
risks from various complementary perspectives, with the main pillars being control by location, business area, management model, product,
and process. This approach facilitates the identification of specific situations necessitating decision-making. The objective is to gain
a comprehensive understanding of the Bank's loan portfolio across all stages of the credit cycle, with a degree of detail enabling the
evaluation of the current risk situation and potential changes.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Shifts in the Bank's exposure to credit
risk are continuously and systematically monitored. The effects of these changes on future exogenous situations, as well as those stemming
from strategic decisions, are assessed with the aim of implementing measures that restore the loan portfolio's profile and value back
to the parameters set by the Executive Committee.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>b.5) Credit Recovery</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Operational strategies and channels are
determined based on the number of days past due and the respective amounts, resulting in a Responsibilities Map and always prioritizing,
as the primary option, the customer's recovery.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Behavioral scoring tools are utilized to
assess the collection performance of specific groups, aiming to reduce costs and enhance recovery efforts. These models are designed to
estimate the likelihood of customer default by optimizing collection strategies, so that customers with a lower probability of recovery
are targeted with timely interventions. In instances where there is a higher likelihood of repayment, the emphasis is placed on maintaining
a healthy relationship with customers. All customers facing significantly overdue payments or those with restructured loans are subjected
to internal restrictions.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Clients with higher volumes at Risk are
assigned a portfolio-based recovery model, with commercial oversight and a recovery specialist.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>b.6) Credit risk from other perspectives</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Certain areas and/or specific perspectives
on credit risk warrant the attention of specialists, in addition to the management of overall risk.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Concentration risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Concentration risk is a critical factor
in credit risk management. The Bank continuously monitors the concentration of credit risk within its portfolios, by economic sector,
geographical location/country, customer groups, and product types.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Risk Committee establishes risk policies
and assesses the necessary exposure limits for the effective management of credit risk concentration within the portfolio. From a sector-wise
perspective, the distribution of the corporate client portfolio is appropriately diversified.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Risk Executive Vice Presidency at the
Bank works in conjunction with the Strategic Finance Executive Vice Presidency in the management of loan portfolios. This involves reducing
the concentration of exposures through various techniques, including maintaining guarantees to mitigate corporate risk, deploying derivatives
for hedging purposes, and executing securitization transactions to optimize the portfolio's overall risk/return ratio.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Credit risk from financial market operations</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">This topic encompasses the credit risk
associated with treasury operations conducted with clients, particularly credit institutions. These operations are carried out through
financing products in the money market involving various financial institutions and by employing instruments held for the purpose of serving
clients.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Risk management is conducted with the support
of an integrated real-time system, enabling the Bank to ascertain, at any moment, the unused exposure limit with respect to any counterparty,
any product, and any maturity across all units of the Bank.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Credit risk is measured at its current
fair value and its potential value (the value of exposure, considering future shifts in relevant market factors). Consequently, the Equivalent
Credit Risk (ECR) is defined as the sum of the net replacement value plus the future maximum potential value of the contracts.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->111<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Social and Environmental Risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In order to promote a more controlled and
safe scenario for our operations and also foster the development of businesses that adopt sustainable practices, Banco Santander permanently
manages the risks involved in our activities and that may have an impact on the Organization, shareholders, customers, society and the
environment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In this sense, Banco Santander has a Social,
Environmental and Climate Responsibility Policy (PRSAC), which establishes guidelines and consolidates specific policies for social, environmental
and climate practices in business and in relationships with stakeholders. These practices include the analysis of social, environmental
and climate risks, which is guided by the Social, Environmental and Climate Risk Policy (PORSAC), for granting credit to Wholesale customers
and the Retail Companies 3 segment (one of the Bank's Legal Entity segments), which have credit limits or risk above R$7&#160;million.
These customers, both Wholesale and Retail, are classified into 14 service sectors, segregated into two risk levels: medium and high risk
subsectors. This analysis also covers agricultural operations (including individual clients), real estate credit, projects, guarantees,
acceptance and retention of clients, and mergers and acquisitions. The purpose of the Socio-environmental and Climate Risk analysis is
to support and mitigate issues of operational risk, capital risk, credit risk, and reputational risk, always with an integrated risk perspective.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Since 2009, Santander has been a signatory
to the Equator Principles, which are a set of guidelines used to analyze Socio-environmental and Climate Risks in the financing of large
infrastructure and energy projects. The same set of socio-environmental criteria is applied to projects that do not fall within these
principles. The aforementioned management structure is aligned with compliance with CMN resolutions no. 4,943/2021 and no. 4,945/2021,
determining that organizations take a closer look at managing risks associated with social, environmental and climate issues, in addition
to a Social, Environmental and Climate Responsibility Policy (PRSAC) and Social, Environmental and Climate Risk Policy (PORSAC)..</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>b.7) Credit Management - Main changes</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The trends observed in 2024 were consistent
with those of 2023, during which we observed a challenging economic environment. The Bank succeeded in maintaining the high quality of
its business, evidenced by an improvement in the non-performing loan ratio, primarily due to the enhanced quality observed in the new
vintages, coupled with the write-off of older vintages. As of December 2024, this ratio stood at 7.03% compared to 7.23% in December 31,
2023 and 7.5% in December 31, 2022.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Below is a table illustrating the evolution
of the main credit indicators.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="display: none">Schedule of evolution of the main credit indicators</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 6pt; text-align: center">&#160;</TD>
    <TD STYLE="background-color: white; padding-right: 6pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 70%; padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD ROWSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: Black 1pt solid; width: 15%; padding-top: 2.15pt; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: #EE2724 1pt solid; border-bottom: Black 1pt solid; width: 15%; padding-top: 2.15pt; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Credit risk exposure - customers (Thousand of Reais)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">750,357,060</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">719,880,952</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;Loans and advances to customers, gross (note 9)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">599,687,844</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">551,536,203</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;Contingent Liabilities - Guarantees and other sureties (note 43.a)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">64,387,753</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">65,671,261</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;&#160;Private securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">86,281,463</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">102,673,488</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Non-performing loans ratio (%)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7.03%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7.23%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment coverage ratio (%)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">84.44%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">88.13%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Specific credit loss provisions, net of RAWO (*) (Thousand of Reais)</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">35,668,907</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 6pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">35,152,998</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 1.65pt 0 0">Data prepared based on management criteria and accounting
    criteria of the controlling unit.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 15pt; text-align: left">(*)</TD><TD STYLE="width: 5pt"></TD><TD>RAWO = Recoveries of Assets Written Off at Loss</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>



<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">The Bank incorporates forward-looking information
in both its assessment of whether the credit risk of a financial instrument has substantially increased since its initial recognition
and in its measurement of expected loan losses. Drawing on guidance from its internal committees and economic experts, and taking into
account a range of actual and forecasted external information, the Bank develops a base scenario as well as other possible scenarios.
This process involves projecting two or more additional economic scenarios and assessing the respective probabilities of each outcome.
External information includes economic data and forecasts published by government agencies, monetary authorities, and selected analysts
from the private sector and academia.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The base case represents the most probable
outcome and aligns with the information the Bank uses for other purposes, including strategic planning and budget formulation. The alternative
scenarios depict outcomes that are either more optimistic or more pessimistic. Periodically, the Bank conducts stress tests on more extreme
shocks to refine its assessment of these alternative scenarios.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Market Risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Market risk represents exposure to risk
factors such as interest rates, exchange rates, commodity prices, stock market prices, and other financial instruments, contingent upon
the product type, transaction volume, duration, contractual terms, and underlying volatility.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank operates in accordance with global
policies, framed within its risk tolerance perspective and aligned with its objectives in Brazil and internationally. To achieve this,
it has developed its own Risk Management model, adhering to the following principles:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 2pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Functional independence;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 2pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Executive capability sustained
by knowledge and close customer relationships;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 2pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Global reach of the function
(diverse risk types);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 2pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Collective decision-making that
evaluates all possible scenarios without compromising outcomes with individual decisions, including the Executive Risk Committee for Brazil,
which establishes limits and approves operations, and the Executive Committee for Assets and Liabilities, responsible for the management
of capital and structural risks, encompassing country risk, liquidity, and interest rates;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->112<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Management and optimization
of the risk/return equation; and</FONT></TD></TR></TABLE>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Risk management methodologies,
such as Value At Risk - VaR (historical simulation over 521 days, with a confidence level of 99% and a one-day time horizon), scenarios,
sensitivity of net interest income, sensitivity of fair value of equity, and contingency planning.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Market Risk structure is part of the
Risk Vice Presidency, an independent unit that implements risk policies in accordance with the directives from the Board of Directors
and the Risk Division of the Santander Group Spain.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.1) Activities subject to market risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The measurement, control, and monitoring
of market risk encompass all operations where asset risk is assumed. This risk arises from fluctuations in risk factors - including interest
rates, exchange rates, equities, commodity prices, and the volatility of these factors - as well as from solvency and liquidity risks
associated with the various products and markets in which the Bank operates.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The activities are segmented by type of
risk, as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">I.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Financial intermediation: this item encompasses financial services provided to clients, financial intermediation operations and positioning, particularly in fixed-income securities, foreign exchange, and equities.</FONT></TD></TR>
</TABLE>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">II.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Balance sheet management: the objective of balance sheet risk management is to stabilize the net interest income of the commercial area and the economic value of the Bank, so as to maintain adequate liquidity and solvency levels. Risk is assessed based on the balance sheet's exposure to interest rate movements and liquidity levels.</FONT></TD></TR>
</TABLE>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">III.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Structural Risks:</FONT></TD></TR>
</TABLE>






<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Structural foreign exchange risk/earnings hedge: exchange rate risk arising from the currency in which investments in consolidated and non-consolidated entities are made (structural exchange rate). This item also includes positions taken to hedge against the foreign exchange risk in future earnings generated in currencies other than the Brazilian Real (earnings hedge).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">	Structural equity risk: this item includes equity interests in both financial and non-financial and non-consolidated entities that may present an equity risk.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Financial Management area is responsible
for centrally managing balance sheet and structural risks by applying standardized methodologies tailored to the specific conditions of
each market in which the Bank operates. In the Convertible Currencies segment, Financial Management directly oversees the risks at the
Headquarters and coordinates the risk management of other units operating in these currencies. Decisions impacting the management of these
risks are made by the ALCO (Asset Liability Committee) in the respective countries.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The purpose of the Financial Management
area is to ensure the stability and recurring nature of both the net interest margin arising from commercial activities and the Bank's
economic value, while maintaining adequate levels of solvency and liquidity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Each of these activities is measured and
analyzed using various tools to accurately reflect their risk profiles as precisely as possible.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Interest Rate Risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The table below consolidates, by product, the cash flows from operations
within our group of companies that earn interest income. These operations are reported at their book balance as of the closing dates for
the years 2024 and 2023. It is not associated with the management of risks related to changes in interest rates or the mismatching of
indices, which is conducted through the monitoring of market metrics. However, it facilitates the assessment of concentrations of maturities
and potential risks. Below this, the balances of the same products are presented at their redemption value at maturity, with the exception
of the line concerning receivables and liabilities from derivative contracts.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of position of accounts subject to interest rate risk</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-top: #EE2724 1pt solid; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 1.5pt"></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>In millions of Reais</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left; width: 40%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Position of accounts subject to interest rate risk</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>On Demand</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Up to </B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>3 Months</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3 to 12 Months</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1 to 5 years</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Above 5 years</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Interest-earning assets:</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>121</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,283</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,404</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">121</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,283</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,404</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in profit or loss&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,700</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,779</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>24,793</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>52,083</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>32,175</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>123,530</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,700</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,123</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,038</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">35,033</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,977</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">89,871</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">40</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,639</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,755</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,027</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,198</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,619</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets not intended for trading Mandatory measured at the fair value of the result</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>209</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>209</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">209</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">209</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in other comprehensive income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,183</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,258</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,977</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>59,238</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>31,711</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>103,367</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,183</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,258</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,977</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">59,238</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">31,711</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">103,367</FONT></TD></TR>

  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; width: 40%; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial Assets Measured at Amortized Cost</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>113,264</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>107,139</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>153,954</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>234,133</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>70,674</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>679,164</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and Other Amounts with Credit institutions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">110,426</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,020</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,197</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,910</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">118,553</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,557</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">98,218</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">138,836</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">193,061</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">61,220</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">493,892</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt Instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">281</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,901</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,921</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,162</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,454</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">66,719</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>123,147</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>119,176</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>183,845</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>346,737</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>134,560</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>907,465</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Remunerated Liabilities:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial Liabilities Measured at Fair Value in income Held for Trading</B></FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,403</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,529</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,958</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,497</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,206</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>51,593</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,529</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,958</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,497</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,206</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,196</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Short Positions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,397</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,397</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial liabilities at amortized cost</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>174,985</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>116,741</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>249,441</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>242,650</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>32,136</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>815,953</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Deposits from credit institutions&#160;&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">508</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">32,060</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">68,882</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,268</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">326</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">123,044</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Customer deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">174,477</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">59,547</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">124,584</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">160,324</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">518,965</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Bonds and securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,134</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">55,975</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">61,058</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,435</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">150,602</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt Instruments Eligible to Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,342</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,342</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>214,388</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>119,270</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>251,399</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>249,147</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>33,342</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>867,546</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<!-- Field: Page; Sequence: 114 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->113<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>



<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 40%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid; width: 10%">&#160;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 1.5pt"></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>In millions of Reais</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: left"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Position of accounts subject to interest rate risk</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>On Demand</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Up to </B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>3 Months</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3 to 12 Months</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1 to 5 years</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Above 5 years</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Interest-earning assets:</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,591</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,591</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,591</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,591</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in profit or loss &#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>17,088</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,722</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,003</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>45,863</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>30,323</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>105,999</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,822</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,425</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,940</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">35,164</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,137</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">76,488</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">43</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,244</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,296</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,060</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,682</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,186</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">29,468</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets not intended for trading Mandatory measured at the fair value of the result</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>183</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>183</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">183</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">183</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in other comprehensive income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,237</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,360</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,684</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>44,722</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,994</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>63,997</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,237</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,360</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,684</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">44,722</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,994</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">63,997</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial Assets Measured at Amortized Cost</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>135,427</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>105,253</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>86,314</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>220,663</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>84,800</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>632,457</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and Other Amounts with Credit institutions&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">86,391</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,394</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,496</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,978</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">94,259</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,176</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">96,038</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">68,597</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">183,156</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">73,832</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">458,799</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt Instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,860</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,821</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,221</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">34,529</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,968</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">79,399</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>153,752</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>115,335</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>96,001</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>311,248</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>127,891</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>804,227</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 1.5pt"></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Interest-bearing liabilities:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial Liabilities Measured at Fair Value in income Held for Trading</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>30,627</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,972</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,779</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,467</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,101</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>50,947</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,863</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,972</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,779</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,467</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,101</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,183</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Short Positions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,764</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,764</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial liabilities at amortized cost</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>212,885</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>139,140</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>130,337</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>221,561</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>28,280</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>732,203</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Deposits from credit institutions&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,189</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">36,767</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">32,650</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,595</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,380</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">94,580</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Customer deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">197,507</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">70,908</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">80,260</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">151,046</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">53</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">499,774</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Bonds and securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,189</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">31,465</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,427</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">59,920</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,360</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">121,361</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt Instruments Eligible to Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,488</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,488</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>243,512</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>144,113</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>132,116</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>231,028</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>32,381</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>783,150</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  </TABLE>
<P STYLE="font: 5pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 115 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->114<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 52%"><FONT STYLE="display: none">Schedule of position of accounts subject to currency risk</FONT></TD>
    <TD STYLE="width: 12%">&#160;</TD>
    <TD STYLE="width: 12%">&#160;</TD>
    <TD STYLE="width: 12%">&#160;</TD>
    <TD STYLE="width: 12%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Currency Risk</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 1.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B> </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>In millions of Reais</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Asset:</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Dollar</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Euro</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Others</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Cash/Applications/Debt Instruments</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">207,780</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,523</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,447</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">221,750</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,629</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">565</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,195</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">421,574</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,908</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,310</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">455,792</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,181</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,181</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>668,164</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>30,432</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>18,322</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>716,918</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Liabilities:</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Dollar</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Euro</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Others</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Funding in foreign currency</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">172,082</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,333</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,778</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">183,193</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">384,550</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,804</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,402</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">422,756</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">116,669</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">501</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,778</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">119,948</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>673,301</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>34,638</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>17,958</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>725,897</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: red 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 1.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B> </B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>In millions of Reais</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Asset:</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Dollar</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Euro</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Others</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Cash/Applications/Debt Instruments</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">214,500</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,043</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,794</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">219,337</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,699</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,585</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">90</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,374</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">267,585</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,024</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,002</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">287,611</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,687</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,687</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>489,470</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>14,652</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12,887</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>517,009</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Liabilities:</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Dollar</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Euro</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Others</B></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Funding in foreign currency</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">154,096</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">851</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,873</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">157,820</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">238,389</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,392</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,183</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">260,964</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1.5pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">99,544</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,043</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,733</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">104,320</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 1.15pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>492,029</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>18,286</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12,789</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>523,105</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.2) Methodologies</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Financial Intermediation</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander has been calculating the
minimum capital requirement for market risks using an internal model since its approval by the Brazilian Central Bank in May of 2018.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The standard methodology for measuring
and controlling market risks in financial intermediation activities conducted by Banco Santander in 2024 and 2023 was Value at Risk (VaR),
which quantifies the maximum expected loss at a specified confidence level over a given period. This methodology employs a standard historical
simulation with a confidence level of 99% and a one-day horizon. Statistical adjustments were made to efficiently incorporate the most
recent events impacting the level of risk assumed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Specifically, the Bank employs a two-year
time window or 521 daily data points collected retrospectively from the reference date of the VaR calculation. Each day, two values are
computed: one utilizing an exponential decay factor that assigns lesser weight to observations more distant from the current term, and
another with uniform weights for all observations. The reported VaR will be the higher of these two values.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">VaR is not the only metric available for
assessing the risk exposure of an institution. It is favored for its simplicity in calculation and effectiveness as a benchmark for the
level of risk faced by the Bank. Nevertheless, the Bank employs additional metrics and methodologies to enhance its control over risk
across all markets in which it operates.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Among these measures, scenario analysis
is particularly noteworthy. It entails defining behavioral scenarios for various financial variables and assessing their impact on results
by applying them to the Bank's operations. These scenarios may either replicate past events (such as crises, for example), or establish
plausible scenarios that are not based on past events. A minimum of three types of scenarios&#8212;plausible, severe, and extreme&#8212;are
established. Together with VaR, these scenarios enable a much more comprehensive assessment of the risk profile.</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>


<!-- Field: Page; Sequence: 116 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->115<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The positions are tracked daily through
comprehensive oversight of portfolio fluctuations, with the purpose of identifying potential incidents and immediately rectifying them.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">A daily profit and loss statement is an
excellent indicator of risk, as it enables the monitoring and detection of the impact of changes in financial variables on portfolios.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Finally, in managing credit activities
(actively traded credits - trading portfolio) and derivatives, given their unique characteristics, specific measures are assessed. For
derivatives, these measures include sensitivities to fluctuations in the underlying asset's price (delta and gamma), volatility (vega),
and time (theta). In the case of credit management activities (actively traded) within trading portfolios, the controlled measures encompass
sensitivity to spread, jump-to-default risk, and position concentration by rating level.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.3) Balance sheet management</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Interest rate risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank assesses the sensitivity of the
net interest margin (financial margin) and fair value of equity to interest rate fluctuations. This sensitivity arises from the mismatch
between the maturity and interest rate revision dates of the various balance sheet items.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Based on the balance sheet's interest rate
position and taking into account the market's current situation and future outlook, financial measures are implemented to align this position
with the Bank's desired stance. These measures may range from taking market positions to defining the interest rate characteristics of
commercial products.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The measures employed by the Bank to manage
risk, or exposure to interest rates in these activities, include the interest rate gap, which assesses the sensitivity of the net interest
margin (NIM) and fair value of equity (MVE) to fluctuations in interest rate levels, the duration of equity, Value at Risk (VaR), Earnings
at Risk (EaR), and scenario analysis.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Interest Rate Gap between Assets and
Liabilities</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The interest rate gap analysis focuses
on the mismatches between the revaluation periods of balance sheet items (assets and liabilities) and off-balance sheet items. This analysis
provides a basic representation of the balance sheet structure and enables the identification of interest rate risk concentrations across
various maturities. Furthermore, it serves as a useful tool for estimating the potential impact of fluctuations in interest rates on the
net interest margin and the institution's equity value.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">All items, whether on the balance sheet
or off the balance sheet, must be classified according to flows and reorganized based on the point of price revaluation and their maturities.
In instances where a maturity date is not specified by contract, an internal model for analyzing and estimating its duration and sensitivity
will be utilized.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Sensitivity of Net Interest Margin (NIM)</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The sensitivity of net interest margin
measures the change in expected receivables for a specific period (12 months) in response to a shift in the interest rate curve.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The calculation of the net interest margin
sensitivity is performed by simulating the margin in scenarios of changes in interest rate curves and comparing it with the current scenario.
Sensitivity is the difference between the two calculated margins.&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Sensitivity of Fair value of Equity
(MVE)</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The sensitivity of fair value of equity
is a supplementary measure to the sensitivity of net interest margin.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">It assesses the implicit interest rate
risk in equity, based on the impact of interest rate fluctuations on the present values of financial assets and liabilities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Value at Risk (VaR) and Earnings at
Risk (EaR)</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">It is determined at the 99% percentile
of the MVE's loss distribution function, calculated by considering the current fair value of positions, based on the returns obtained
in the last two years, and with a degree of statistical certainty (confidence level) for a specified time horizon.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">A similar methodology is also applied to
calculate the maximum loss in NII (EaR), aiming to assess the interest rate risk in terms of its impact on both economic value and net
interest margin.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The unit combines the VAR return vectors
with the EaR return vectors, resulting in the total return vector. This combination is executed by incorporating into the EaR metric the
losses in financial margin that occur between the reference date and the holding period of the non-trading portfolio. Losses in economic
value account for the impact on positions maturing after the holding period.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.4) Liquidity risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Liquidity risk relates to the Bank's ability
to fund commitments undertaken at reasonable market prices and to execute its business plans with stable funding sources.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 117 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->116<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Liquidity management of Banco Santander</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">For liquidity management and control, Banco
Santander employs both short-term and long-term metrics, as well as metrics for stress scenarios, which are capable of measuring a robust
liquidity buffer, ensuring the Bank can comfortably meet its obligations to the market and shareholders. Accordingly, in this regard,
we note:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Short-term metrics and liquidity stress:</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><I>a. LCR</I></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander employs the &#34;Liquidity
Coverage Ratio&#34; (LCR) in its liquidity risk management strategy. The LCR is a short-term liquidity measure for a stress scenario
spanning 30 days, calculated as the ratio of high-quality liquid assets to net cash outflows over 30 days.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The total High Quality Liquidity Assets
- HQLA (Liquid Assets) primarily consist of Brazilian federal government securities and compulsory reserve yields. Net outflows are mainly
due to deposit losses, partially offset by inflows, predominantly loans.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><I>b. Liquidity stress scenarios</I></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Liquidity management entails the analysis
of financial scenarios to assess potential liquidity issues, which demands the development and examination of scenarios in crisis conditions.
The Stress Test is the model employed for this analysis.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Stress Test evaluates the financial
structure of the institution and its capacity to withstand and respond to more extreme scenarios.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The purpose of the Liquidity Stress Test
is to allow for the simulation of adverse market conditions, thereby enabling the assessment of their impacts on the institution's liquidity
and payment capacity. Consequently, it aims to preemptively identify solutions or avoid positions that could significantly compromise
liquidity in volatile scenarios.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Scenarios are defined based on the analysis
of market behavior during previous crises. Four crisis scenarios are formulated, each with varying levels of intensity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Following the analysis of stress models,
the concept of minimum liquidity was established as the amount sufficient to cover liquidity losses over a specified horizon of days,
across all simulated crisis scenarios.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Long-term metric:</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Its purpose is to assess the stability
of funding sources relative to committed assets. The Net Stable Funding Ratio (NSFR), a metric developed by the Bank for International
Settlements (BIS) and adapted by the local regulator, aims to determine, through specified percentages, whether the institution maintains
a stable funding source to support its assets. This metric applies varying weightings based on term, customer segment, and product type.
It is calculated on a monthly basis by the institution.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><I>c. Liquidity ratios</I></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To support management, certain liquidity
ratios, including counterparty concentration ratios and segment concentration ratios, are calculated on a monthly basis.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Funding from Customers</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander has diverse sources of
funding, both in terms of products and customer mix, with a healthy distribution across segments. Total customer funding currently stands
at R$787&#160;billion, marking an increase from the previous volume of 2023. This growth is primarily attributed to a significant rise
in term deposit inflows and the consistent maintenance of the financial bills portfolio.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of funding from customers</FONT></TD>
    <TD COLSPAN="3" STYLE="padding-top: 2.65pt; text-align: right">&#160;</TD>
    <TD COLSPAN="3" STYLE="padding-top: 2.65pt; text-align: right">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-top: #EE2724 1pt solid; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>In millions of Reais</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Customers Funding</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 40%; padding-top: 2.15pt; padding-bottom: 1.5pt">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>0 a 30 days</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>0 a 30 days</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Demand deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">40,398</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">40,398</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">35,714</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">35,714</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Savings accounts</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">57,369</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">57,369</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">58,112</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">58,112</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">100%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Time deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">103,569</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">403,686</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">103,519</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">393,757</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interbank deposit</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,058</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,850</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">779</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,264</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Funds from acceptances and issuance of securities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,237</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">151,686</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,820</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">142,553</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Borrowings and Onlendings</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,959</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">105,768</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,711</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">87,236</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Subordinated Debts / Debt Instruments Eligible to Compose Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,125</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19,627</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>223,590</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>787,882</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>28%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>213,655</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>741,263</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>29%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Assets and liabilities, classified by their
remaining contractual maturities and considering the undiscounted cash flows, are as follows:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 118 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of assets and liabilities in accordance with the remaining contractual
maturities, considering the undiscounted flows</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-top: #EE2724 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>In millions of Reais</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 40%; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Future Cash Flows Except for Derivatives&#160;</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>On Demand</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Up to </B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>3 Months</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3 to 12 Months</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1 to 5 years</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Above 5 years</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; width: 10%; padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Interest-earning assets:</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>121</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,283</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,404</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">121</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,283</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,404</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in profit or loss </B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,844</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,206</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>32,461</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>66,004</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>42,695</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>159,210</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,844</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,550</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,706</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48,954</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">37,497</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">125,551</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity Instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">40</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,639</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,755</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17,027</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,198</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33,619</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in other comprehensive income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,931</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,339</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,576</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>81,687</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>44,655</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>143,188</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,931</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,339</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,576</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">81,687</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">44,655</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">143,188</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at amortized cost</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>114,080</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>163,232</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>211,015</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>223,938</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>106,752</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>819,017</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 1.65pt 0 0 11.1pt">Loans and Other Amounts with Credit</P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt 11.1pt">Institutions&#160;</P></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">110,426</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,535</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,863</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,187</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">119,011</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,373</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">150,960</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">181,405</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">198,944</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">88,425</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">623,107</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">281</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,737</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,747</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">21,807</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">18,327</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">76,899</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>127,855</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>177,777</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>250,173</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>372,912</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>194,102</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,122,819</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Remunerated Liabilities:</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 1.65pt 0 0"><B>Financial Liabilities Measured at Fair Value in</B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt"><B>Income Held for Trading</B></P></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>39,403</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2,529</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,958</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,497</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,206</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>51,593</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,529</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,958</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,497</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,206</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,196</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Short positions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,397</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">39,397</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial liabilities at amortized cost</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>222,840</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>130,959</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>282,616</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>325,846</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>80,804</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,043,065</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 1.65pt 0 0 11.1pt">Deposits from credit institutions</P>

</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">505</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">32,408</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">74,803</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,099</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,237</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">131,052</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Customer deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">222,279</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">75,866</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">158,729</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">204,254</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">661,170</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Bonds and securities&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">56</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,685</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,084</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">99,493</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">56,183</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">227,501</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt Instruments Eligible to Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,342</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,342</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>262,243</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>133,488</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>284,574</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>332,343</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>82,010</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,094,658</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2.15pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>In millions of Reais</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>&#160;Non-Discounted Future Flows Except Derivatives</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>On Demand</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>Up to </B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right"><B>3 Months</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3 to 12 Months</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1 to 5 years</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Above 5 years</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: -2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Interest-earning assets:</B></FONT></TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,591</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 2.15pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,591</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,591</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,591</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in profit or loss &#160;</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>19,295</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>6,077</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8,225</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>54,467</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>36,616</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>124,679</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11,028</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,780</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,161</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">43,768</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">32,430</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">95,168</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity Instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">17</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">43</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,244</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,296</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,060</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">10,682</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,186</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">29,468</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at fair value in other comprehensive income</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,393</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>5,054</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>3,222</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>55,140</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,951</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>78,761</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,393</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5,054</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,222</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">55,140</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">13,768</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">78,578</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Equity Instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">183</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">183</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial assets measured at amortized cost</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>145,514</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>145,270</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>103,823</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>206,862</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>115,879</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>717,347</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 1.65pt 0 0 11.1pt">Loans and Other Amounts with Credit</P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt 11.1pt">Institutions&#160;</P></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">86,325</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,162</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,836</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,899</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">93,222</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Loans and advances to customers</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">54,270</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">128,381</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">85,109</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">178,329</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">101,509</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">547,599</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt instruments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,919</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,727</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,877</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">25,634</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,369</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">76,527</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>166,202</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>156,401</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>115,269</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>316,469</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>168,037</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>922,379</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&#160;</P>


<!-- Field: Page; Sequence: 119 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->118<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; padding-left: 2.65pt; width: 40%">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right; width: 10%">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right; width: 10%">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right; width: 10%">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right; width: 10%">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right; width: 10%">&#160;</TD>
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; text-align: right; width: 10%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 1.65pt 0 0"><B>Financial Liabilities Measured at Fair Value in</B></P>
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt"><B>Income Held for Trading</B></P></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>30,627</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,972</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>1,779</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,467</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,101</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>50,947</B></FONT></TD></TR>

  <TR>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: top; width: 40%; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Derivatives</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom; width: 10%; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,863</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom; width: 10%; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,972</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom; width: 10%; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,779</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom; width: 10%; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,467</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom; width: 10%; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,101</FONT></TD>
    <TD STYLE="border-bottom: rgb(109,109,109) 1pt solid; vertical-align: bottom; width: 10%; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,183</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Short positions</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,764</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,764</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Financial liabilities at amortized cost</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>318,836</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>145,130</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>156,974</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>270,185</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>51,853</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>942,977</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-right: 2.65pt">
    <P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 1.65pt 0 0 11.1pt">Deposits from credit institutions</P></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,811</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">38,298</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">36,953</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">12,990</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,252</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">113,304</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Customer deposits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">295,413</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">82,892</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">93,485</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">175,856</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">53</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">64,770</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Bonds and securities&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,612</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">23,940</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,535</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">81,339</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,060</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">165,486</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: top; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 11.1pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Debt Instruments Eligible to Capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,488</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16,488</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>349,463</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>150,102</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>158,753</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>279,652</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>55,954</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>993,924</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 1.65pt 0 0; text-align: right">&#160;</P>
    <P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: right">&#160;</P>
    <P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0 0 1pt; text-align: right">&#160;</P></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify"><B>Scenario analysis/contingency plan</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Based on the results of the Stress Test,
the Bank formulates its Liquidity Contingency Plan, comprising a formal set of preventive and corrective actions to be deployed in the
event of a liquidity crisis. The activation of the Plan is contingent upon the monitoring of internal parameters that reflect the Bank's
market and liquidity conditions. These parameters are used to identify different levels of crisis severity, thereby determining whether
there is a need to initiate the activation process.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Following the identification of a crisis,
clear communication is established among the internal departments capable of executing corrective actions to mitigate the arising issues.
These corrective actions, aimed at generating liquidity to resolve or alleviate the effects of the crisis, are selected based on their
complexities, implementation timelines, and impact on liquidity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The parameters and measures of this Plan
are subject to review whenever necessary, with a minimum review period of one year.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.5) Structural foreign exchange risk/earnings
hedge/structural equity risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">These activities are monitored by measuring
positions, VaR, and results.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.5.1) Complementary measures</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Testing and calibration measures</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Back-testing consists of a comparative
analysis between Value at Risk (VaR) estimates and daily &#34;clean&#34; results (portfolio profits or losses at the end of the previous
day, valued at the next day's prices) and &#34;dirty&#34; results (managerial income incorporating costs, intraday results, and carry).
The purpose of these tests is to verify and provide a measure of the accuracy of the models used in the VaR calculation.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The back-testing analyses conducted by
Banco Santander are in compliance, at a minimum, with the BIS recommendations concerning the verification of internal systems used in
the measurement and management of financial risks. The Bank also engages in hypothesis testing, including tests for outliers, normality
tests, Spearman correlation, and measures of average excess, among others. The assessment models are regularly calibrated and tested by
a specialized unit.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.6) Control system</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Limit setting</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The limit-setting process is conducted
in conjunction with budgeting activities and serves as a mechanism to determine the assets and liabilities available for each business
activity. This process is dynamic, adjusting to the level of risk deemed acceptable by Management. The framework for setting limits entails
devising a process that takes into account, among other factors, the following aspects:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Efficiently and comprehensively identify
and delineate the principal types of financial risks generated, ensuring alignment with business management and the defined strategy.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Quantify and communicate to the business
divisions the levels and profiles of risk deemed acceptable by Management, in order to prevent undesired risks.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Provide business areas with the flexibility
to undertake financial risks efficiently and timely, in response to market changes and business strategy adjustments, always within the
risk thresholds deemed acceptable by the institution.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Enable business generators to assume risks
at a volume that is both prudent and adequate to achieve the budgeted results.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Specify the range of products and underlyings
that each Treasury unit is authorized to operate with, taking into account factors such as valuation models and systems, and the liquidity
of the instruments involved.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.7) Risks and results in 2024</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Financial Intermediation Activities</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In 2024, he Bank's trading portfolio's
average VaR was R$4,527 million. The dynamic management of this profile allows the Bank to adjust its strategy to capitalize on opportunities
presented by an uncertain environment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c.7.1) Balance sheet management</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 120 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->119<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Interest risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Convertible currencies</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">At the end of 2024, the interest rate risk,
as measured by the one-year sensitivity of the net interest margin to a parallel increase of 100 basis points across Banco Santander's
portfolios, was primarily concentrated in the Brazilian Real interest rate curve, resulting in a positive impact of R$798&#160;million.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Additionally, at the close of 2024, the
interest rate risk, as measured in terms of the company's fair value sensitivity to a parallel increase of 100 basis points applied to
Banco Santander on the Brazilian Real interest rate curve, resulted in a negative impact of R$2,643 million.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Quantitative risk analysis</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The interest rate risk in balance sheet
management portfolios, as measured by the sensitivity of the net interest margin, over a one-year period with a parallel increase of 100
basis points in the interest rate curve, decreased by R$31 million from 2024 to 2023, reaching a peak of R$972 million in April of 2024.
The sensitivity of value decreased by R$691&#160;million during the year of 2024, achieving a maximum level of R$2,663 million in April
of 2024. The key factors that occurred in the year 2024 and influenced the sensitivities were the slope/decrease of the interest rate
curve (convexity effect), portfolio decay, and the refinement of implicit methodologies applied to cash flows of Banco Santander's products.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="display: none">Schedule of quantitative risk analysis</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 55%; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Million of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Sensibilities</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Net Interest Margin</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">798</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">754</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">954</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Fair value of Equity</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,643</FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,154</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Value at Risk - Balance</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">VaR</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">731</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">415</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">971</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 8pt; text-align: justify"><B>c.8) Sensitivity analysis</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Risk management is concentrated on portfolios
and risk factors, in accordance with Brazilian Central Bank regulations and international best practices.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Financial instruments are classified into
trading books (Trading Book) and banking books (Banking Book), as performed in the management of market risk exposure, in line with market
best practices and the Brazilian Central Bank's criteria for operation classification and capital management. The trading book encompasses
all transactions involving financial instruments and commodities, including derivatives, held for trading purposes. The banking book includes
structural operations stemming from the various business lines of Banco Santander and their corresponding hedges, if any. Consequently,
in accordance with the nature of Banco Santander's activities, the sensitivity analysis has been split between the trading and banking
portfolios.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander conducts sensitivity analysis
of its financial instruments in accordance with IFRS 7, taking into account market information and scenarios that could adversely affect
the Bank's positions.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The summary tables presented below encapsulate
sensitivity values generated by Banco Santander's corporate systems, relating to the trading book and the banking book, for each portfolio
scenario on December, 31, 2024.</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><FONT STYLE="display: none">Schedule of trading portfolio</FONT></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: red 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid">&#160;</TD>
    <TD COLSPAN="3" STYLE="border-top: #EE2724 1pt solid; padding-top: 1.9pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 26%">&#160;<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Trading Book</B></FONT></TD>
    <TD STYLE="width: 44%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Risk Factor</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Description</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Scenario 1</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Scenario 2</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Scenario 3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest Rate - Reais</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to changes in interest fixed rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,496)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(261,418)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(522,835)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Coupon Interest Rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to changes in coupon rate of interest rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(111)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,638)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,276)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Inflation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-right: -2.65pt; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to change in coupon rates of price indexes</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8,884)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(19,405)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(38,809)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Coupon - US Dollar</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to changes in coupon US Dollar rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(4,078)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(16,472)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(32,944)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Coupon - Other Currencies</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Exposures subject to changes in coupon foreign currency&#160;&#160;rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(431)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,553)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,107)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Foreign currency</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to foreign exchange</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(209)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(5,222)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(10,443)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Eurobond/Treasury/Global</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to Interest Rate Variation on Papers Traded on the International Market</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(10,988)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(112,284)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(224,568)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Shares and Indexes</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to change in shares price</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(265)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,613)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(13,226)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Commodities</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to change in commodities' prices</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(37)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(920)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; background-color: white; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,841)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>Total&#160;<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(32,499)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(426,525)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; background-color: white; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(853,049)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">(1) Net amounts after tax effects</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Scenario 1:</B> shock of +10bps and
-10bps in interest rate curves and 1% for price fluctuations (currencies and equities), considering the largest losses by risk factor.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Scenario 2: </B>shock of +25% and -25%
across all risk factors, considering the largest losses by risk factor.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Scenario 3:</B> shock of +50% and -50%
across all risk factors, considering the largest losses by risk factor</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 121 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->120<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt"><FONT STYLE="display: none">Schedule of portfolio banking</FONT></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR>
    <TD STYLE="border-top: #EE2724 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais&#160;</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD COLSPAN="3" STYLE="border-top: #EE2724 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 26%">&#160;<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Banking Book</B></FONT></TD>
    <TD STYLE="width: 44%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD>
    <TD STYLE="width: 10%">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Risk Factor</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Description</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Scenario 1</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Scenario 2</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Scenario 3</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Interest Rate - Reais</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to changes in interest fixed rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(86,965)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(3,507,350)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(7,035,646)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">TR and Long-Term Interest Rate (TJLP)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to TR and TJLP Coupon Variation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(36,810)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,312,615)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,353,906)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Inflation</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to change in coupon rates of price indexes</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(19,327)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(328,089)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(617,049)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Coupon - US Dollar</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to changes in coupon US Dollar rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,453)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(225,401)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(415,722)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Coupon - Other Currencies</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Exposures subject to changes in coupon foreign currency&#160;&#160;rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(567)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(6,601)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(13,150)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">International Market Interest Rate</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to Variation in the Interest Rate of Securities Traded in the International Market</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(37,222)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(663,043)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,404,832)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Foreign currency</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Exposures subject to foreign exchange</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">893</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">22,318</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">44,637</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%"><B>Total&#160;<SUP>(1)&#160;</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(186,451)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(6,020,781)</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>(11,795,668)</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">(1) Net amounts after tax effects.</P>

<P STYLE="font: 8pt/120% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Scenario 1:</B> shock of +10bps and
-10bps in interest rate curves and 1% for price fluctuations (currencies and equities), considering the largest losses by risk factor.</P>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Scenario 2: </B>shock of +25% and -25%
across all risk factors, considering the largest losses by risk factor.</P>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Scenario 3: </B>shock of +50% and -50% across
all risk factors, considering the largest losses by risk factor.</P>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>d) The Bank's operations
are highly dependent on the proper functioning of its information technology systems</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Bank's operations are significantly
dependent on the accurate and efficient processing of a large volume of transactions, executed by its information technology systems,
along with its reliance on digital technologies, computing services, email, software, and networks, as well as the secure processing,
storage, and transmission of confidential and other information within computer and network systems.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The proper functioning of the Bank's financial
control, risk management, accounting, customer service, and other data processing systems is critical for its operations and its ability
to compete effectively.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>e) Independent Structure</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Operational Risk &amp; Internal Control
area, subordinate to the Executive Vice-Presidency of Risks, acts independently as a second line, supporting and challenging the first
line. It has guidelines, policies and processes to ensure the conduct and adequacy of the Operational Risk Control and Management Model.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The area adopts the definition of the Basel
Committee, the Central Bank of Brazil and other locally applicable Corporate instructions for Operational Risk as the possibility of losses
resulting from inadequacy or failure of processes, operations, systems, or events. This definition covers the legal risk associated with
inadequacy or deficiency in contracts signed by the Institution, as well as sanctions due to non-compliance with legal provisions and
compensation for damages to third parties resulting from the activities developed by the Institution, excluding strategic and reputational
Risk.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>e.1) Operational Risks &amp; Internal
Controls</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Operational Risk &amp; Internal Control
area's mission within Banco Santander is to support the fulfillment of strategic objectives and the decision-making process, in adapting
and meeting mandatory requirements, in maintaining solidity, reliability, reducing and mitigating losses due to operational risks, in
addition to implementing and disseminating the Operational Risk culture.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Additionally, the Operational Risk &amp;
Internal Control area works to prevent Operational Risks and supports the continuous strengthening of the Internal Controls system, meeting
the requirements of Regulatory Agencies, the Basel Accord, resolutions of the National Monetary Council (CMN) and Applicable Regulators.
This Model also follows the guidelines established by Banco Santander Spain based on COSO &#8211; Committee of Sponsoring Organizations
of the Treadway Commission &#8211; Internal Control &#8211; Integrated Framework 2013.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Control and Management Model</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Santander Brasil implemented the Model
based on three lines that aims at the continuous improvement and development of the management and control of operational risks, ensuring
that the structures can assess, monitor, control, mitigate, report and reduce the risks and losses to which they are exposed.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The attributions of this model encompass
conducting activities for the identification, assessment, monitoring, control, mitigation, and reporting of Operational Risk. Accordingly,
diverse analyses and monitoring efforts are undertaken and reported. Below are the key instruments that constitute the Operational Risk
Management and Control Model:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Definition of Operational Risk
appetite;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Capture and assessment of loss
events (both internal and external);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Training, Communication, and
Culture;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Evaluation of products and services;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Operational risk self-assessment;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>


<!-- Field: Page; Sequence: 122 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->121<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Scenario Analysis;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Risk and Control Indicators;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Internal Controls.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Model Governance</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Model is approved by the Executive
Risk Committee and the Board of Directors, integrating the Organization's Corporate Governance responsibility into the structure. Relevant
Operational Risk matters are periodically communicated to Senior Management for their knowledge and deliberation.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As part of the Risk Governance system,
the Senior Forum for Internal Controls and Operational Risks (FSCIRO) has also been implemented, with the objective of deliberating for
the Risk Pro Officers (RPO), on the front line, the policies, processes, procedures, strategy and decisions on the topics to be applied
in the business units, and it is held monthly, except in the event of calendar/schedule conflicts of the members, and may be replaced
by the Operational Risk Meeting.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">To ensure a structured approach to the
dissemination of the culture of management and control of Operational Risks, relevant topics are addressed in specific Committees and
Forums.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>e.2) Attributions of the Operational
Risk and Internal Controls division</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Operational Risk &amp; Internal Control
area acts as the second line in the Banco Santander model and aims to maintain compliance, alignment and conformity with the corporate
guidelines of the Santander Group, the Basel Accords, Resolutions of the National Monetary Council (CMN) and Applicable Regulators. It
exercises control and challenges the activities performed by the first line, contributing to its strengthening, envisioning an integrated
approach to risk management. The main responsibilities are presented below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Propagate a culture oriented
to the management of Operational Risks and Internal Controls, converging towards the prevention and reduction of events and losses attributable
to Operational Risk, thereby mitigating financial, legal, and reputational impacts.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Refine risk analysis to reduce,
consolidate, and prioritize mitigation actions.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Maintain the dynamics and control
of operational risk exposure in alignment with the risk appetite.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Set out roles and responsibilities,
with oversight in conjunction with the responsible parties across the defense lines.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Ensure business continuity and
strengthen the Internal Control environment.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Provide an adequate level of
coverage throughout the business units.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Offer support for the Organization's
strategic decision-making, grounded in an integrated Operational Risk profile and emerging trends.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Implement best practices for
managing and controlling operational risks in the 1st and 2nd Line of Defense.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Identify the Organization's
Operational Risk Profile.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Enable continuous improvement
of existing methodologies and the deepening of the culture of accountability for Operational Risks and Internal Controls.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>e.3) Differentiating factor</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Operational Risk &amp; Internal Control
area invests in the development, training and updating of its professionals to respond to changes identified in the business environment
and provides training to other professionals through courses on the Intranet, in-person and virtual in real time. For in-person and virtual
in real time, we prioritize the provision of training aimed at fostering the culture of Operational Risk management, Internal Controls,
training to capture operational losses, among others.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">These achievements contribute significantly
to Banco Santander Brasil achieving its strategic and operational objectives in a consistent manner, with knowledge regarding the exposure
to operational risks assumed and a controlled environment, maintaining the bank's low-risk profile and ensuring the sustainable development
of its operations. The Bank highlights:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Mandatory training for all Banco
Santander employees, through the Santander Academy, on Operational Risks and Internal Controls.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Creation, dissemination and
maintenance of Instruction Manuals, allowing corporate dissemination for everyone's commitment.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Coordination of the annual process
for the preparation of operational risk loss forecasts and definition of action plans to mitigate these losses.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Development of key indicators
for the purpose of monitoring the main operational risks.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Composition of governance lines
with the &#8220;ORM - Operational Risk management&#8221; Networks: &#8220;RPO-Risk Pro Officer&#8221;, whose role is to report to the
executive the monitoring of Operational Risk issues at the strategic level of the Executive Board, the &#8220;RPA-Risk Pro Agent&#8221;
who is responsible for the VPE regarding the Operational Risk Management and Control Model and &#8220;Operational Risk Assistant&#8221;
covering the RO perimeter and &#8220;Specialists&#8221; for cases where the operational risk is transversal to the organization.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>e.4) Communication</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Operational Risk &amp; Internal Control
area is part of Banco Santander's Governance structure and maintains a periodic communication and reporting process for Management through
the Senior Forum on Internal Controls and Operational Risks (FSCIRO) and the RO Meeting. This process includes the presentation of materialized
events, main risks, corrective action plans and information on the Internal Controls environment, ensuring transparency and knowledge
to the governance forums. Additionally, the main risks (materialized and emerging) are reported and escalated, when applicable,
to the Risk Control Committee and the Audit Committee and the Risk and Compliance Committee of the Board.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>f) Reputation Risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>f.1) Reputation Risk</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Reputation risk is defined as the risk
of a negative economic impact, either current or potential, derived from an unfavorable perception of the Bank by employees, customers,
shareholders/investors, and society at large.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Reputational risk may emerge from a variety
of sources and, frequently, results from other risk events. Typically, these sources are associated with the business and other support
activities undertaken by Santander, as well as the economic, social, or political landscape, or even incidents triggered by competitors
that could impact the Bank.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>f.2) Compliance</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">It is defined as legal risk, the risk of
regulatory sanctions, financial loss, or reputational damage that an institution may face due to failure in complying with laws, regulations,
codes of ethics and conduct, and best banking practices. Compliance risk management is preventive in nature and includes monitoring, educational
initiatives, advisory, risk assessment, and corporate communication related to the rules and legislation applicable to each business area.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>f.3) Operating guidelines</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>a. Compliance Principles - Ethics and
conduct in the securities markets</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Ethical principles and standards are encapsulated
in internal policies, which are made available and communicated to everyone. The Code of Ethics applies to all employees of the Organization,
while the Code of Conduct in Securities Markets garners adherence from all individuals closely associated with the Securities Markets.
Channels for clarification and reporting are established, alongside the implementation of monitoring and control measures designed to
ensure compliance with the rules by all employees.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>b. Anti-Money Laundering and Counter-Terrorism
Financing</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Anti-Money Laundering and Counter-Terrorist
Financing Policy is predicated on the knowledge and stringent criteria applied to the onboarding of our clients, further reinforced by
the continuous surveillance of all transactions the Bank engages in. The concern with this issue is reflected in the active involvement
of our management through the Anti-Money Laundering Operational Committee and the Ethics and Compliance Committee, which convene monthly
to deliberate on issues pertinent to this matter. The committee plays a direct role in the client onboarding process and in addressing
reports of suspicious activities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>c. New products and services and suitability</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">All new products and services undergo
an internal evaluation by different technical departments to ensure a multidisciplinary risk assessment, followed by approval from the
Local Commercialization Committee (LCC), which is composed of Santander executives. After this analysis and approval process, the new
products and services are subject to ongoing monitoring and testing to mitigate any potential conduct risks during their sales.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>g) Compliance with the Prudential
Regulatory Framework</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Santander Brasil maintains an integrated
risk and capital management framework for its decision-making process, in compliance with BCB Resolution No. 4.557. This approach contributes
to the optimal and efficient allocation of capital in its operations, aligned with the Institution's objectives regarding capital ratios
and shareholder returns.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Brazil's participation in the Basel Committee
on Banking Supervision (BCBS) promotes the timely adoption of international prudential standards within the Brazilian regulatory framework.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Consistent with this perspective, Santander
Brasil invests in the continuous refinement of its capital management processes and practices, adhering to international market benchmarks,
as well as regulatory and supervisory standards.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Institution's capital management consists
of an ongoing process encompassing planning, assessment, control, and monitoring of the capital required to mitigate the significant risks
of the Conglomerate. This process includes evaluating the capital needed to support Pillar 1 risks (credit, market, and operational);
developing methodologies for quantifying additional capital for Pillar 2 risks; implementing the Internal Capital Adequacy Assessment
Process (ICAAP); projection and monitoring of capital ratios; preparation of the capital plan, preparation of contingency plans, preparation
of the recovery plan; preparation of the organized exit plan; stress tests; and preparation of the quarterly risk and capital management
report &#8211; Pillar 3.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>g.1) Internal validation of risk models</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#160;</P>


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    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->123<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Internal validation is a critical phase
in the life cycle of a model, as well as a prerequisite for the validation process by supervisory authorities. A specialized team within
the Bank, endowed with sufficient independence, provides a technical assessment on the adequacy of internal models for the intended internal
and regulatory objectives, concluding on their effectiveness and utility. The team is also required to evaluate whether the risk management
and control procedures are commensurate with the Bank's strategy and risk profile.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Moreover, the Internal Validation division
provides critical support to the risk committees and the Bank's management by offering a qualified and independent perspective. This enables
the decision-making bodies to deliberate on the authorization for the use of models, whether for management or regulatory purposes.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Internal Validation at Banco Santander
primarily covers models related to Credit Risk, Operational Compliance, Market, ALM, Pricing, Provisions, Economic Capital, and other
models pertinent to the ICAAP exercise. The validation scope encompasses both theoretical and methodological aspects, as well as technological
architecture, data quality, and all significant facets of advanced risk management (controls, reporting, usage, management engagement,
etc.). Thus, the purpose of internal validation is to examine the quantitative, qualitative, technological, and corporate governance dimensions
associated with regulatory processes and risk management.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Key responsibilities of the Internal Model
Validation area include the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">i.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Establish the general principles
of validation, conducting an independent assessment process that includes (i) data quality, (ii) methodological foundations, (iii) technological
environment, (iv) performance, and (v) use and governance;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">ii.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Issue a technical opinion on
the adequacy of internal models for the intended internal and regulatory purposes, concluding on their usefulness and effectiveness.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">iii.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Provide essential support to
the risk committees and the Bank's management by delivering a qualified and independent opinion, enabling the responsible parties to make
informed decisions on the authorization of model usage (for both management and regulatory purposes).</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">It is important to note that Banco Santander's
internal validation function is entirely in line with the independent validation criteria for the advanced approach as prescribed by the
Basel Committee, the European supervisory 'home regulator' (Bank of Spain and European Central Bank), and the Brazilian Central Bank.
In this regard, the Bank enforces a clear separation of responsibilities between Internal Validation and Internal Audit, with the latter
constituting the final layer of the Bank's control validation framework.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Internal Audit is responsible for assessing
and revising the methodology and internal validation work, issuing opinions with an effective level of autonomy. As the ultimate control
mechanism within the Group, the Internal Audit (third line of defense) is required to (i) periodically assess the adequacy of policies,
methods, and procedures, and (ii) confirm their effective implementation in management.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>g.2) Capital Management </B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Capital management takes into account both
regulatory and economic factors, with the purpose of achieving a capital structure that is both cost-efficient and compliant, while meeting
the requirements set forth by regulatory authorities and contributing to the attainment of classification targets established by rating
agencies, as well as fulfilling investors' expectations.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>h) Economic Capital</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>h.1) Main objectives</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The development of economic capital models
in the financial world seeks to address a fundamental challenge of regulatory capital: Risk Sensitivity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In this context, economic capital models
are specifically crafted to produce risk-sensitive estimates, facilitating enhanced precision in risk management, as well as more effective
allocation of economic capital across Banco Santander's business units.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander has concentrated its efforts
on developing a robust economic capital model that is seamlessly integrated with business management. The primary objectives of Banco
Santander's economic capital framework are the following:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">1 - Consolidate Pillar I and other risks
impacting the business into a single quantitative model, while also determining capital estimates by establishing correlations among various
risks.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">2 - Quantify and monitor fluctuations across
distinct risk types.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">3 - Distribute capital consumption among
the main portfolios and manage the efficiency of Return on Risk-Adjusted Capital (RORAC).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">4 - Estimate the Economic Value Added for
each business unit. Economic profit must exceed the Bank's cost of capital.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">5 &#8211; Compliance with regulatory standards
in the locations where the Bank operates during the Pillar II review process conducted by supervisory authorities.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>h.2) Economic Capital Model</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In the determination of economic capital,
it is the Bank's duty to specify the level of loss to be covered. Accordingly, a requisite confidence interval is applied to ensure the
continuity of operations.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 125 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->124<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The risk profile in Brazil is distributed
among Credit, Market, ALM, Business, Operational and Material Assets risks. However, in order to anticipate the changes proposed in Basel
III, new risks were incorporated into the model: Intangibles, Pension Funds (defined benefit) and Deferred Tax Assets, which allow the
Bank to adopt an even more conservative and prudent position.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of economic capital model</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD>
    <TD STYLE="padding-right: 0.75pt; text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; width: 70%; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>% Capital</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; width: 15%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Risk Type</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B> </B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.65pt; padding-right: -2.65pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B> </B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Credit</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">55%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Market</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">ALM</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Business</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">11%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Operational</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Fixed Assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Intangible Assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Pension Funds&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Deferred Tax Assets</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">19%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>TOTAL</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100%</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">However, as a commercial bank, Credit is
Banco Santander's main source of risk and the evolution of its portfolio is one of the main factors for its fluctuation.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">RoRAC</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Banco Santander Brasil has been using RORAC,
with the following objectives:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- Analyze and establish a minimum price
for operations (admissions) and customers (monitoring).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- Estimate the capital consumption for
each client, economic group, portfolio, or business segment to optimize the allocation of economic capital, thereby maximizing the Bank's
efficiency.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- Measure and track the performance of
the business.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- To assess the operations of global clients,
the calculation of economic capital incorporates specific variables employed in determining expected and unexpected losses. These variables
include:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- Counterparty rating.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- Maturity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- Guarantees.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">- Nature of financing.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Economic value added is determined by the
cost of capital. To generate value for shareholders, the minimum return from operations must exceed Banco Santander's cost of capital.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 126 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->125<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt; color: red"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B><FONT ID="fp_051"></FONT>47.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Subsequent Events</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/130% Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>a)</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt"><B>Deliberation on Interest
on Equity</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Board of Directors of Banco Santander,
at a meeting held on January 10, 2025, approved the proposal of the Company's Executive Board, ad referendum of the Ordinary General Meetings
to be held by April 30, 2025, for the distribution of Interest on Equity, in the amount of R$1,500,000,000.00 (one billion and five hundred
million reais), based on the balance of the Company's Dividend Equalization Reserve. Shareholders registered in the Bank's records at
the end of January 22, 2025 (inclusive) will be entitled to the Interest on Equity. Therefore, as of January 23, 2025 (inclusive), the
Bank's shares will be traded &#8220;Ex-Interest on Equity&#8221;. The amount of Interest on Equity was paid in February 12, 2025. The
Interest on Equity will be fully attributed to the minimum mandatory dividends to be distributed by the Bank, referring to the fiscal
year 2025, without any remuneration as monetary adjustment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 127 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->126<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><FONT ID="fp_052"></FONT><B>APPENDIX I &#8211; RECONCILIATION
OF SHAREHOLDERS&#8217; EQUITY AND NET INCOME</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Below are the tables reconciling shareholders'
equity and net profit attributable to the Parent Company between the accounting practices adopted in Brazil and the International Financial
Reporting Standards (IFRS), accompanied by a conceptual description of the main adjustments.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 1.65pt; padding-left: 2.65pt"><FONT STYLE="display: none">Schedule of reconciliation of shareholders equity and net income</FONT></TD>
    <TD STYLE="padding-top: 1.65pt; padding-right: -1.3pt; padding-left: 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD>
    <TD STYLE="text-align: center">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 66%; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; width: 4%; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Note</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-top: #EE2724 1pt solid; border-bottom: #6D6D6D 1pt solid; width: 10%; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Stockholders' equity attributed under to the Parent Brazilian GAAP</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>90,743,958</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>86,084,331</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>82,061,915</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">IFRS adjustments, net of taxes, when applicable:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Reclassification of financial instruments at fair value through profit or loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">h</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(76,256)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(75,538)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(54,801)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Reclassification of&#160;&#160;fair value through other comprehensive income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">i</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,200</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,814</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(33)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment of financial assets measured at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">a</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(387,348)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">234,410</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(816,600)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Category transfers - IFRS 9</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">b</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(187,807)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(664,635)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(219,671)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Deferral of financial fees, commissions and inherent costs under effective interest rate method</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">c</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,044,873</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,689,463</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,493,810</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Reversal of goodwill amortization</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">d</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,925,987</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">26,618,368</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">27,136,573</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Realization on purchase price adjustments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">e</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">577,831</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">586,024</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">594,784</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Adjustment referring to the difference between Book Value vs. the fair on Carsale's entry into Webmotors</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">79,175</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">79,175</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Option for Acquisition of Equity Instrument</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">f</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">181,717</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">181,717</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(798,016)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt; line-height: 8pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Santander Servi&#231;os goodwill (Santusa)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">g</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(298,978)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(298,978)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(298,978)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Reversal of Provision PIS Law 9,718</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">j</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">980,212</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(115,667)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">15,853</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">103,639</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Stockholders' equity attributed to the parent under IFRS</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>119,491,685</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>114,453,004</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>110,182,834</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Non-controlling interest under IFRS</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">335,447</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">403,350</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">497,342</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Stockholders' equity (including non-controlling interest) under IFRS</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>119,827,132</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>114,856,354</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>110,680,176</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #EE2724 1pt solid">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Thousand of Reais</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Note</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2023</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>2022</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Net income attributed to the Parent under Brazilian GAAP</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,477,390</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>8,973,657</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>12,570,191</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">IFRS adjustments, net of taxes, when applicable:</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Reclassification of financial instruments at fair value through profit or loss</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">h</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(33,811)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(29,788)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(9,826)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; line-height: 120%">Reclassification of&#160;&#160;fair value through other comprehensive income</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">i</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,080</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(1,383)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(177,887)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Impairment of financial assets measured at amortized cost</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">a</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(587,260)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,036,851</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">805,578</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Category transfers - IFRS 9</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">b</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(17,584)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">14,722</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Deferral of financial fees, commissions and inherent costs under effective interest rate method</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">c</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">340,362</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">195,653</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(90,260)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Reversal of goodwill amortization</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: calibri; font-size: 8pt">d&#160;</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">138,404</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">147,171</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">96,162</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Realization on purchase price adjustments</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: calibri; font-size: 8pt">e</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8,193)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8,760)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(8,760)</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Option to Acquire Own Equity Instrument</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: calibri; font-size: 8pt">f</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">181,717</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">181,717</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">184,810</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Reversal of Provision PIS Law 9,718</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">j</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(980,212)</FONT></TD>
    <TD STYLE="border-top: #6D6D6D 1pt solid; border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">980,212</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Others</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(146,183)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(48,008)</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(77,849)</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Net income attributed to the parent under IFRS</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; vertical-align: bottom; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,365,506</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,449,313</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>14,287,093</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Non-controlling interest under IFRS</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 2.15pt -1.3pt 1.5pt 2.65pt; vertical-align: bottom; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48,257</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,499</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">52,382</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Net income (including non-controlling interest) under IFRS</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding: 1.65pt -1.3pt 1pt 2.65pt; vertical-align: bottom; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,413,763</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,498,812</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>14,339,475</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>a) Impairment of loans and
receivables and financial assets measured at amortized cost</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">This adjustment relates to the estimated
expected losses on the portfolio of assets subject to impairment, commitments for loan disbursements, and financial guarantee contracts,
determined based on the criteria outlined in the accounting practices note and in accordance with IFRS 9 (in 2017, it refers to the adjustment
for estimated incurred losses in accordance with IAS 39, the regulatory standard in effect at the time). These criteria differ in certain
respects from those adopted under BRGAAP, which follows the regulatory thresholds established by the Brazilian Central Bank (Bacen). Moreover,
the scope of the loss calculation base under IFRS is broader, including assets beyond those specified by Bacen.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>b) Financial asset categories</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As outlined in the note on accounting practices,
IFRS 9 mandates the identification of business models associated with each portfolio, as well as the execution of the SPPI test to ascertain
whether the cash flows from an asset consist exclusively of payments for principal and interest, for the purpose of classifying the asset
within the appropriate financial asset categories. In contrast, BRGAAP allows for certain differences in the categorization of these financial
assets and also considers Management's intention as a criterion for classification. Additionally, the criteria for reclassification across
categories differ between the two accounting standards.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>



<!-- Field: Page; Sequence: 128 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->127<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>c) Deferral of banking fees,
commissions, and other financial costs using the effective interest rate method</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Under IFRS, bank fees, commissions, and
related financial costs, which are included in the effective interest rate of financial instruments measured at amortized cost, are recognized
in the income statement over the validity period of the respective contracts. In contrast, under BRGAAP, these fees and expenses are recognized
directly in the income statement upon receipt or payment.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>d) Reversal of goodwill
amortization</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Under BRGAAP, goodwill is systematically
amortized over a period of up to 10 years, subject to impairment testing at least once a year, or more frequently if additional evidence
arises. Under IFRS, as per IAS 38 &#8220;Intangible Assets&#8221;, goodwill is not amortized but is tested for impairment to ascertain
its recoverable amount at least annually, and whenever there is an indication of a potential reduction in its recoverable value. The tax
amortization of Banco Real's goodwill represents a permanent and definitive difference between the accounting and tax bases, as the possibility
of utilizing future funds to settle a tax liability is considered remote by Management, a position supported by the opinion of specialized
external advisors. Consequently, the tax amortization of goodwill is permanent and definitive, and thus, the recognition of a deferred
tax liability does not apply as per IAS 12 &#8211; Income Taxes, with respect to temporary differences.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>e) Recognition of purchase
price adjustments</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">As part of the purchase price allocation
for acquisitions of entities, notably in the acquisition of Banco Real, in accordance with IFRS 3 &#34;Business Combinations&#34; standards,
the Bank reassessed the acquired assets and liabilities at fair value, including identifiable intangible assets with defined useful lives.
In contrast, according to BRGAAP, in a business combination, assets and liabilities are recorded at their book value. The adjustments
to the purchase price allocation primarily relate to the valuation of assets in the loan portfolio. The initial recording of the loan
values at fair value resulted in an adjustment to the yield curve of the portfolio compared to its nominal value, which is recognized
over the respective average realization period.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>f) Option to Acquire Equity
Instrument</B></P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In the context of the transaction, Banco
Santander granted the shareholders of Getnet S.A. and Banco Ol&#233; Consignado a put option for all the shares issued by Getnet S.A.
and Banco Ol&#233; Consignado that they held. In accordance with IAS 32, a financial liability was recognized for the commitment made,
offset against a specific equity account, in the amounts of R$950 million and R$67 million, respectively. The options were subsequently
updated, with their effects recognized in the income statement. On December 19, 2018, Banco Santander and the Minority Shareholders of
Getnet S.A. signed an amendment to the Share Purchase and Sale Agreement and Other Covenants of Getnet S.A., whereby Banco Santander committed
to acquiring all the shares from the Minority Shareholders, representing 11.5% of the share capital of Getnet S.A., for the amount of
R$1,431,000. The acquisition was approved by Brazilian Central Bank on February 18, 2019 and completed on February 25 2019, resulting
in Banco Santander holding 100% of the shares representing the share capital of Getnet S.A. On March 14, 2019 the minority shareholder
of Banco Ol&#233; Bonsucesso Consignado S.A. expressed their intention to exercise the put option stipulated in the Investment Agreement,
signed on July 30, 2014, to sell their 40% stake in the share capital of Ol&#233; Consignado to Banco Santander (Brasil) S.A. On December
20, 2019 the parties entered into a binding agreement for the acquisition by Banco Santander of all the shares issued by Bosan Participa&#231;&#245;es
S.A., for a total value of R$1.6 billion, payable on the closing date of the transaction. On January 30, 2020, the name of Banco Ol&#233;
Bonsucesso Consignado S.A. was changed to Banco Ol&#233; Consignado S.A. On January 31, 2020, the Bank and the shareholders of Bosan
Participa&#231;&#245;es S.A. finalized the definitive agreement and signed the share purchase and sale agreement for 100% of the shares
issued by Bosan, through the transfer of Bosan's shares to the Bank and payment to the sellers in the total amount of R$1,608,773 As a result, the Bank has become, both directly and indirectly, the holder of 100% of the shares in Banco Ol&#233;.</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>g) Santander Servi&#231;os
(Santusa) acquisition goodwill</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Under IFRS 3 &#34;Business Combinations&#34;,
when a parent company acquires additional shares or other equity instruments of an entity it already controls, this amount must be recognized
as a reduction in its equity. Under BRGAAP, this amount must be recorded on the balance sheet as goodwill or as a bargain purchase in
the acquisition of the investment, which represents the difference between the acquisition cost and the equity value of the shares.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>h) Reclassification of financial
instruments at fair value through profit or loss</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Under BRGAAP, all loans, financings, and
deposits are accounted for at amortized cost. Under IFRS, as per IFRS 9 &#34;Financial Instruments: Recognition and Measurement,&#34;
financial assets may be measured at fair value and included in the category &#34;Other financial assets at fair value through profit
or loss.&#34; This approach aims to eliminate or significantly reduce the accounting mismatch in recognition or measurement arising from
the valuation of assets or liabilities or the recognition of gains or losses on these assets/liabilities on different bases, which are
managed and their performance evaluated based on fair value. Consequently, the Bank has classified loans, financings, and deposits that
meet these criteria as &#34;fair value through profit or loss,&#34; as well as certain debt instruments classified as &#34;available
for sale&#34; under BRGAAP. The Bank has adopted this classification basis under IFRS, as it effectively eliminates an accounting mismatch
in the recognition of income and expenses.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>i) Reclassification of financial
instruments to financial assets measured through other comprehensive income</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Under BRGAAP, the Bank accounts for certain
investments, such as debt securities initially measured at amortized cost and equity securities at cost. At the time of preparing this
balance sheet, management reviewed its investment management strategy and, in accordance with the provisions of Circular No. 3.068/2001
by the Brazilian Central Bank, reclassified the debt securities to the &#34;trading&#34; category, recording their fair value through
profit or loss. In line with IFRS, the Bank has classified these investments as financial assets measured at fair value through other
comprehensive income, measuring them at fair value with the effects of this valuation being recognized in the &#34;Consolidated Statements
of Comprehensive Income&#34;, in compliance with IFRS 9 &#34;Financial Instruments&#34;, which prohibits the reclassification of any
financial instrument to the fair value through profit or loss category after initial recognition.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 129 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B>j) Provision Reversal PIS
Law No. 9.718</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In December 2022, the adjustment relates
to the reversal of the provision for the PIS lawsuit (Law No. 9.718), as detailed in note 21 c.4, following the adoption of Circular Letter
No. 3.429/2010. This Circular Letter introduces specific rules for BRGAAP regarding the accounting treatment of tax obligations under
judicial review. The total comprises R$160,806 in taxes and R$819,406 in interest and similar income, resulting in a net tax effect of
R$980,212.</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 1pt">&#160;</P>


<!-- Field: Page; Sequence: 130 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->129<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
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    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B><FONT ID="fp_053"></FONT>APPENDIX II &#8211; STATEMENT
OF VALUE ADDED</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Statement of Value Added presented
below is not a requirement under IFRS; however, it is provided as supplementary information in accordance with Brazilian corporate legislation
for publicly traded companies. It has been derived from the Bank's Consolidated Financial Statements and prepared in conformity with IFRS.</P>

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    <TD STYLE="vertical-align: bottom">&#160;</TD>
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  <TR>
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  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">(2,585,502)</FONT></TD>
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  <TR>
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  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">312,986</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">239,236</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
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  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Added value to distribute</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>31,593,812</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>28,597,255</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>29,131,613</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Added value distribution</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Employee</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>10,304,959</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">32.6%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,567,687</B></FONT></TD>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,894,413</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">34.0%</FONT></TD></TR>
  <TR>
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    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,381,229</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,804,098</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,351,116</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Benefits</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,975,443</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,843,988</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,737,282</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Government severance indemnity funds for employees - FGTS</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">569,555</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">549,538</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">2,221</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Other</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">378,732</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">370,063</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">1,803,794</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Taxes</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>7,640,888</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">24.2%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,382,381</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">32.8%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>4,749,350</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">16.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Federal</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,632,666</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">9,375,150</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">4,625,498</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">State</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">123,852</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Municipal</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,222</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,231</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">-</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Compensation of third-party capital - rental</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">234,202</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.7%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">148,375</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">148,375</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">0.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Remuneration of interest on capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>13,413,763</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">42.5%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>9,498,812</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">33.2%</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>14,339,475</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Dividends and interest on capital</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,000,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,200,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">8,100,000</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Profit Reinvestment</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">7,365,506</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">3,249,313</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">6,187,093</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 1.65pt; padding-bottom: 1pt; padding-left: 4.35pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">Profit (loss) attributable to non-controlling interests</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">48,257</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">49,499</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">52,382</FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom">&#160;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; vertical-align: bottom; padding-top: 2.15pt; padding-bottom: 1.5pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>31,593,812</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>28,597,255</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>29,131,613</B></FONT></TD>
    <TD STYLE="border-bottom: #6D6D6D 1pt solid; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt"><B>100.0%</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 131 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->130<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->



<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; color: red"><B><A NAME="fp_054"></A>Performance Report</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 21.25pt; text-align: justify; color: red"><B><IMG SRC="image_008.gif" ALT="" STYLE="height: 67px; width: 68px">
To the Shareholders: </B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">We present the Management Report
for the Consolidated Financial Statements of Banco Santander (Brasil) S.A. (Banco Santander or Bank) for the fiscal year ended on December
31, 2024. These statements have been prepared in conformity with the International Financial Reporting Standards (IFRS&reg;) issued by
the International Accounting Standards Board (IASB&reg;), (currently referred to by the IFRS&reg; Foundation as &ldquo;standards accounting
IFRS&reg;&rdquo;) and the interpretations of the IFRS Interpretations Committee (formerly the International Financial Reporting Interpretations
Committee - IFRIC). They will be published on the website www.santander.com.br/ri.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 42.5pt; text-align: justify; text-indent: -14.15pt">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 0.5in; text-align: justify; color: red"><B><IMG SRC="image_009.gif" ALT="" STYLE="height: 54px; width: 54px">
1. Economic Situation</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Wingdings; color: red">v</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Economic performance was highlighted by the
following themes:</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 6.5pt; text-align: justify; text-indent: 3.85pt">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 28.35pt; text-align: justify; color: red"><B>In the international
environment </B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Wingdings; color: red">v</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Trump's significant victory in the US presidential
elections, which drived to a &ldquo;red-sweep&rdquo; scenario , which means victory for the Republicans in both the Senate and the House
of Representatives.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">This fact should reinforce the
campaign proposals, bringing challenges to trade partnerships with tariff impositions, with significant impacts on global growth.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">In addition, the resilience of
the US economy, together with inflation still above the target, is putting pressure on the US central bank (Fed) to adopt a more cautious
stance, signaling fewer interest rate cuts, and at a slower pace, for 2025.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Wingdings; color: red">v</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>The geopolitical scenario continues with
different points of tension in Europe, the Middle East and Asia.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">This environment, combined with
the uncertainties surrounding the new North American leadership, intensifies doubts about growth.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Wingdings; color: red">v</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Announcement of monetary stimulus and signaling
of fiscal stimulus by Chinese authorities, but below analysts' expectations. More stimulus may come in the event of an escalation of the
trade dispute with the US.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 6.5pt; text-align: justify; text-indent: 3.85pt"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 28.35pt; text-align: justify; color: red"><B>In the domestic
environment</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Wingdings; color: red">v</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>The deterioration in the perception of fiscal
risk, with a significant devaluation of the exchange rate, accentuated the unanchoring of inflation expectations.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">The main macroeconomic event in
the fourth quarter of 2024 was the announcement of measures to contain federal public spending, the initial impact of which did not meet
expectations. The government projected a total cut of R$70 billion over two years, but Banco Santander estimates a lower potential, around
R$50 billion. The perception that the measures announced were insufficient significantly affected asset prices and the expectations of
economic agents. The exchange rate of the real against the US dollar, for example, reached its nominal all-time high of R$6.32/US$ in
December. Likewise, IPCA projections, according to the Focus survey, increased throughout the release horizon, moving further away from
the center of the target pursued by the Central Bank.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Wingdings; color: red">v</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Copom promoted larger adjustments to the
Selic, raising the basic interest rate to 12.25% per year by the end of 2024.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">The conditions for the interest
rate decision by the Central Bank of Brazil pointed to the need for a more contractionary monetary policy. After starting the hike cycle
gradually, with increases of 0.25 percentage points, the committee accelerated the pace in the fourth quarter of 2024, raising the rate
by 0.50 percentage points in November and 1.00 percentage points in December. Furthermore, given a more adverse scenario for the convergence
of the IPCA, the Committee foresees adjustments of the same magnitude in its meetings in the first quarter of 2025, which would take the
Selic to 14.25%, if its baseline scenario is confirmed. Based on this guidance, Banco Santander now estimates that the Selic will reach
15.50% in June 2025. This change is also consistent with the revised inflation scenario; Banco Santander now projects that the IPCA will
be 5.5% in 2025.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 14.15pt"><FONT STYLE="font-family: Wingdings; color: red">v</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>GDP performance in 3Q24 was above expectations,
with emphasis on the more cyclical components on the supply side, consumption and investments. </B></FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">In contrast to Banco Santander&rsquo;s
expectations and the median of market projections, GDP in the third quarter of 2024 surprised positively, registering strong growth. According
to Banco Santander, this performance was mainly driven by the resilience of the labor market and the accumulation of recent fiscal stimulus.
As a result, there was a new wave of upward revisions in GDP growth projections for 2024. At the end of the third quarter of 2024, the
median of economic agents&rsquo; projections indicated a growth of 3.0% for Brazilian GDP in 2024. At the end of the fourth quarter of
2024, this median rose to 3.5%, in line with Banco Santander&rsquo;s current projection.</P>

<!-- Field: Page; Sequence: 132 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->131<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify"></P>

<P STYLE="font: 9pt/120% Calibri, Helvetica, Sans-Serif; margin: 0 0 0 19.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 0.5in; text-align: justify; color: red"><B><IMG SRC="image_010.gif" ALT="" STYLE="height: 54px; width: 54px">
2. Consolidated Performance</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">We maintained our continuous evolution
towards resuming higher levels of profitability. The financial margin showed an evolution guided by the strategy of qualified and selective
growth, directing efforts towards assets with a better return on capital. Commissions maintained a positive trajectory, reflecting a greater
diversification of our sources of revenue. We maintained the good quality of our credit portfolio with controlled default rates.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">With regard to efficiency, we remain
focused on our culture of productivity. We continue to advance in building a solid, less volatile balance sheet with the capacity to generate
sustainable results.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 7.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 5pt; text-align: center"><IMG SRC="image_006.jpg" ALT=""></P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8" STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt">Managerial Income Statement </FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">&sup1;</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="width: 46%; background-color: #0C769E; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><I>(R$ million)</I></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 8%; background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white">4Q24</FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 8%; background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white">3Q24</FONT></TD>
    <TD STYLE="width: 9%; background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white">4Q24 x</FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 1%; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="width: 9%; background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white">2024</FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 9%; background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white">2023</FONT></TD>
    <TD STYLE="width: 10%; background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white">2024 x</FONT></TD></TR>
  <TR STYLE="background-color: #0C769E">
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white">3Q24</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white">2023</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: #747474">Gross Financial Margin</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">15,978</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">15,227</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;4.9&#9;%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">60,746</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">53,179</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;14.2&#9;%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: #747474">Commissions</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">5,515</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">5,334</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;3.4&#9;%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">20,917</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">18,458</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;13.3&#9;%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #CAEDFB; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>Total Revenues</B></FONT></TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>21,493</B></FONT></TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>20,561</B></FONT></TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>&#9;4.5&#9;%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>81,663</B></FONT></TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>71,637</B></FONT></TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>&#9;13.2&#9;%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: #747474">PDD result</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(5,932)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(5,884)</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;0.8&#9;%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(23,755)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(25,200)</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;(5.7)&#9;%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: #747474">General Expenses</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(6,769)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(6,457)</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;4.8&#9;%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(25,837)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(24,713)</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;4.5&#9;%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: #747474">Others</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(3,688)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(3,887)</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;-5.1&#9;%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(15,188)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(13,240)</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;14.7&#9;%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #CAEDFB; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: #5A5A5A"><B>Net Profit Before Taxes</B></FONT></TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>5,104</B></FONT></TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>4,333</B></FONT></TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>&#9;17.8&#9;%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>16,883</B></FONT></TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>8,484</B></FONT></TD>
    <TD STYLE="background-color: #CAEDFB; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #5A5A5A"><B>&#9;99.0&#9;%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: #747474">Taxes and Minority Interest</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(1,250)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(669)</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;86.9&#9;%</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">(3,011)</FONT></TD>
    <TD STYLE="padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">898</FONT></TD>
    <TD STYLE="padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: #747474">&#9;(435.3)&#9;%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #0C769E; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Managerial Net Profit</B></FONT></TD>
    <TD STYLE="background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>3,854</B></FONT></TD>
    <TD STYLE="background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>3,664</B></FONT></TD>
    <TD STYLE="background-color: #0C769E; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>&#9;5.2&#9;%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>13,872</B></FONT></TD>
    <TD STYLE="background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>9,382</B></FONT></TD>
    <TD STYLE="background-color: #0C769E; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>&#9;47.8&#9;%</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="background-color: #0C769E; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: white"><B>Accounting Net Profit</B></FONT></TD>
    <TD STYLE="background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>3,746</B></FONT></TD>
    <TD STYLE="background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>3,548</B></FONT></TD>
    <TD STYLE="background-color: #0C769E; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>&#9;5.5&#9;%</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>13,477</B></FONT></TD>
    <TD STYLE="background-color: #0C769E; padding-right: 2.65pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>8,974</B></FONT></TD>
    <TD STYLE="background-color: #0C769E; padding-right: 0.75pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt; color: white"><B>&#9;50.2&#9;%</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="8" STYLE="padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 7pt">1 The table above onsiders managerial reclassifications pertaining to the Income Statement.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 5pt 0 5pt 42.5pt; text-align: justify; text-indent: -14.15pt"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 21.25pt; text-align: justify; color: red"><B><IMG SRC="image_017.gif" ALT="" STYLE="height: 54px; width: 54px">
3. Strategy and Rating Agencies</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">For information on the Bank's strategy
and its classification by rating agencies, please refer to the Earnings Report available at www.santander.com.br/ri.</P>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 21.25pt; text-align: justify; color: red"><IMG SRC="image_018.gif" ALT="" STYLE="height: 54px; width: 54px"> <B>4.
Corporate Governance</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">The Governance structure of Banco
Santander Brasil comprises the Executive Board and its Executive Committee, which includes the CEO, Senior Executive Vice Presidents,
and Executive Vice Presidents, as well as the Board of Directors and its Advisory Committees, namely: Audit, Risks and Compliance, Sustainability,
Compensation and Nomination, and Governance.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">For more information on the corporate
governance practices adopted by Banco Santander Brasil and the resolutions of the Board of Directors, please visit the website www.santander.com.br/ri.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/130% Times New Roman, Times, Serif; margin: 0 0 5pt 28.35pt; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 21.25pt; text-align: justify; color: red"><B><IMG SRC="image_019.gif" ALT="" STYLE="height: 54px; width: 54px">
5. Internal Audit</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">Internal Audit reports directly
to the Board of Directors, while the Audit Committee is responsible for its oversight.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">Internal Audit is a permanent and
independent function, distinct from any other function or unit, dedicated to providing the Board of Directors and senior management with
independent assurance regarding the quality and effectiveness of internal control processes and systems, risk management (both current
and emerging), and governance, thus contributing to safeguard the organization's value, solvency, and reputation. Internal Audit has been
awarded a quality certification by the Institute of Internal Auditors (IIA).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">To fulfill its responsibilities
and manage the inherent risks associated with Banco Santander's operations, the Internal Audit department maintains a suite of internally
developed tools, which are updated as necessary. Among these, the risk matrix stands out as a planning tool, prioritizing the risk level
within the auditable universe by considering, among other factors, its inherent risks, the most recent audit rating, the degree of compliance
with recommendations, and its magnitude. The work programs, which outline the audit tests to be conducted, are subject to periodic review.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">The Audit Committee and the Board
of Directors favorably analyzed and approved the Internal Audit work plan for the year 2024.</P>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify"></P>

<!-- Field: Page; Sequence: 133 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->132<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 21.25pt; text-align: justify; color: red"><B><IMG SRC="image_003.jpg" ALT="" STYLE="height: 54px; width: 54px">
6. People</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">Banco Santander continues to strengthen
its organizational culture, which is focused on helping people and businesses prosper. Autonomy, leadership and innovation are gaining
ground, accelerating digital transformation and improving personalized offerings for the most diverse segments of society.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">There are 55.646 employees, considering
the entire group, committed to the ambition of making Santander the main bank for each of its customers.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">To this end, Banco Santander invests
in an environment where leadership is a reference in the organization's values, diversity makes each professional feel recognized and
engaged in building their career, and continuous learning is at the service of constantly improving the customer experience and the evolution
of each employee's journey. Growth opportunities are democratized and within everyone's reach. Banco Santander was once again elected
as one of the Best Companies to Work for in Brazil by GPTW, occupying 8th place in the national ranking of companies with more than 10,000
employees and 2nd place in the Sector Ranking of Large Banks.</P>

<P STYLE="font: 11pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 21.25pt; text-align: justify; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 21.25pt; text-align: justify; color: red"><B>
<IMG SRC="image_007.jpg" ALT="">7. Sustainability</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">Our history in sustainability began
more than 20 years ago. Throughout this period, we have experienced an intense journey of evolution, in which we have improved our programs,
businesses and governance focused on the topic</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">In this trajectory, we highlight
the assessment and mitigation of social, environmental and climate risks for granting credit to projects and companies; generating businesses
that support customers&rsquo; transition to a low-carbon economy; and the construction of a more inclusive society, through education
and employability, financial inclusion and entrepreneurship and social inclusion actions. Many of these initiatives are accompanied by
global targets in the areas where we have the greatest potential impact, such as net zero, financial inclusion and diversity.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">To ensure good governance of this
process, we have robust policies and controls, supported by senior leadership.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">At the end of 4Q24, we highlight the following
results:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 28%; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #BF2115; padding-right: 0.85pt; padding-left: 22.15pt; text-align: center; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: white; line-height: 120%"><B>Environmental:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; border-left: black 1pt solid">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="width: 70%; border: black 1pt solid; background-color: white; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 9pt/125% Times New Roman, Times, Serif; margin: 0 7.1pt 5pt 27.8pt; text-align: justify; text-indent: -14.15pt"><FONT STYLE="font-family: Wingdings">v</FONT>
    <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>R$32.2 billion in sustainable businesses made viable, with a portfolio of
    R$37.7 billion in green bond issuances, clean energy financing and dedicated product options.</B></FONT></P>
    <P STYLE="font: 9pt/125% Times New Roman, Times, Serif; margin: 0 7.1pt 5pt 27.8pt; text-align: justify; text-indent: -14.15pt"><FONT STYLE="font-family: Wingdings">v</FONT>
    <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Market leadership in CBIOS (decarbonization credits): 41% market share in
    Brazil</B></FONT></P>
    <P STYLE="font: 9pt/125% Times New Roman, Times, Serif; margin: 0 7.1pt 5pt 27.8pt; text-align: justify; text-indent: -14.15pt"><FONT STYLE="font-family: Wingdings">v</FONT>
    <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Santander Brasil was once again confirmed in the ICO2 B3 portfolio, a B3
    index whose main purpose is to be a tool to encourage discussions about climate change in Brazil.</B></FONT></P>
    <P STYLE="font: 9pt/125% Wingdings; margin: 0 7.1pt 0 0; text-align: justify; text-indent: 3.85pt">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: white; padding-right: 2.65pt; padding-left: 2.65pt; text-align: center; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; line-height: 120%"><B>Promoting sustainable businesses, with a commitment to being Net Zero by 2050.</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 5pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 28%; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #BF2115; padding-right: 0.85pt; padding-left: 22.15pt; text-align: center; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: white; line-height: 120%"><B>Social:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; border-left: black 1pt solid">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="width: 70%; border: black 1pt solid; background-color: white; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 9pt/125% Times New Roman, Times, Serif; margin: 0 11.6pt 5pt 27.8pt; text-align: justify; text-indent: -14.15pt"><FONT STYLE="font-family: Wingdings">v</FONT>
    <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>207 thousand people benefited from courses and scholarships through Santander
    Universities.</B></FONT></P>
    <P STYLE="font: 9pt/125% Times New Roman, Times, Serif; margin: 0 11.6pt 5pt 27.8pt; text-align: justify; text-indent: -14.15pt"><FONT STYLE="font-family: Wingdings">v</FONT>
    <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>The Amigo de Valor program, dedicated to guaranteeing the rights of children
    and adolescents in vulnerable situations, supported approximately 9,342 children and adolescents and their families in 64 municipalities.</B></FONT></P>
    <P STYLE="font: 9pt/125% Times New Roman, Times, Serif; margin: 0 11.6pt 5pt 27.8pt; text-align: justify; text-indent: -14.15pt"><FONT STYLE="font-family: Wingdings">v</FONT>
    <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Approximately 6,271 elderly people and their families benefited from the
    Elderly Partner program, which aims to protect the rights of vulnerable elderly people.</B></FONT></P>
    <P STYLE="font: 9pt/125% Wingdings; margin: 0 11.6pt 0 0; text-align: justify; text-indent: 3.85pt">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: white; padding-right: 8.5pt; padding-left: 2.65pt; text-align: center; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; line-height: 120%"><B>For over 20 years contributing to the construction of a more inclusive society, with access to education and financial products.</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 5pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 28%; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #BF2115; padding-right: 0.85pt; padding-left: 22.15pt; text-align: center; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; color: white; line-height: 120%"><B>Governance:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; border-left: black 1pt solid">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="width: 70%; border: black 1pt solid; background-color: white; padding-right: 2.65pt; padding-left: 2.65pt">
    <P STYLE="font: 9pt/125% Times New Roman, Times, Serif; margin: 0 11.6pt 5pt 27.8pt; text-align: justify; text-indent: -14.15pt"><FONT STYLE="font-family: Wingdings">v</FONT>
    <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Our Board of Directors currently has 45% female members and 55% independent
    members.</B></FONT></P>
    <P STYLE="font: 9pt/125% Wingdings; margin: 0 11.6pt 0 0; text-indent: 3.85pt">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: white; padding-right: 19.85pt; padding-left: 17pt; text-align: center; line-height: 120%"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 9pt; line-height: 120%"><B>Promoting ESG in our culture, connecting all our businesses.</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-left: black 1pt solid">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 134 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->133<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 5pt 0; text-align: justify"></P>

<P STYLE="font: 9pt/130% Times New Roman, Times, Serif; margin: 0 0 8pt 21.25pt; text-align: justify; color: red"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><IMG SRC="image_004.jpg" ALT="" STYLE="height: 54px; width: 54px"> <B>8.
Independent Audit&#9;</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#9;</FONT></B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">The operating policy of Banco Santander,
including its controlled companies, in contracting services unrelated to audit of the Financial Statements by its independent auditors,
is based on Brazilian standards and international audit standards, which preserve the auditor's independence. This reasoning provides
for the following: (i) the auditor does not must audit his own work, (ii) the auditor must not perform managerial functions at his client,
(iii) the auditor must not promote the interests of its client, and (iv) need for approval of any services by the Bank's Audit Committee.
In compliance with Securities and Exchange Commission Instruction 162/2022, Banco Santander informs that in the fiscal year ended December
31, 2024, no services were provided by PricewaterhouseCoopers unrelated to the independent audit of the Financial Statements of Banco
Santander and relevant subsidiaries, which generate a conflict of interest, loss of independence or impact the objectivity of its independent
auditors. PricewaterhouseCoopers has procedures, policies and controls in place to ensure its independence, which include the assessment
of the work provided, covering any service other than the independent audit of the Financial Statements of Banco Santander and its subsidiaries.
This assessment is based on applicable regulations and accepted principles that preserve the auditor's independence.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt 21.25pt; text-align: justify; color: red"><B><IMG SRC="image_021.gif" ALT="" STYLE="height: 54px; width: 54px">
9. Acknowledgements</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">We extend our sincere gratitude
to our clients, shareholders, and employees for the trust and support that have propelled us to this point, enabling the continuation
of our story of evolution and transformation, on the path to becoming the Best Consumer Company in Brazil.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">(Approved at the Board of Directors
Meeting held on February 27, 2025).</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt 28.35pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 135 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->134<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B><A NAME="fp_056"></A>Composition of Management
Bodies of December 31, 2024</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Board of Directors</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Deborah Stern Vieitas &ndash; President (independent)</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Jose Antonio Alvarez Alvarez &ndash; Vice-president</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Deborah Patricia Wright &ndash; Counselor
(independent)</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Ede Ilson Viani - Counselor</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Jos&eacute; de Paiva Ferreira &ndash;
Counselor (independent)</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Javier Maldonado Trinchant &ndash; Counselor</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Mar&iacute;lia Artimonte Rocca - Counselor
(independent)</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Mario Roberto Opice Le&atilde;o &ndash;
Counselor</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Cristiana Almeida Pipponzi &ndash; Counselor
(independent)</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Pedro Augusto de Melo - Counselor (independent)</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Vanessa de Souza Lobato Barbosa &ndash;
Counselor</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Audit Committee</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Pedro Augusto de Melo &ndash; Coordinator</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Maria Elena Cardoso Figueira &ndash; Qualified
Technical Member</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Andrea Maria Ramos Leonel &ndash; Member</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Ren&eacute; Luiz Grande &ndash; Member</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Luiz Carlos Nannini &ndash; Member</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Risk and Compliance Committee</B></P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Jos&eacute; de Paiva Ferreira &ndash; Coordinator</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Deborah Stern Vieitas &ndash; Member</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Jos&eacute; Mauricio Pereira Coelho &ndash;
Member</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Jaime Le&ocirc;ncio Singer &ndash; Member</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Sustainability Committee</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Marilia Artimonte Rocca &ndash; Coordinator</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&Aacute;lvaro Ant&ocirc;nio Cardoso de Souza
&ndash; Member</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Vivianne Naigeborin &ndash; Member</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Tasso Rezende de Azevedo - Member</P>

</TD>
  <TD STYLE="width: 50%">&nbsp;<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Nomination and Governance Committee</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Deborah Stern Vieitas - Coordinator</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Deborah Patricia Wright &ndash; Member</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Cristiana Almeida Pipponzi &ndash; Member</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Jos&eacute; Antonio Alvarez Alvarez &ndash;
Member</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Compensation Committee</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Deborah Patricia Wright &ndash; Coordinator</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Deborah Stern Vieitas - Member</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt">Luiz Fernando Sanzogo Giorgi &ndash; Member Vanessa de Souza
Lobato Barbosa &ndash; Member</P>

</TD></TR>
</TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 136 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->135<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><A NAME="fp_057"></A>Executive Board</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Chief Executive Officer&#9;</B></P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Mario Roberto Opice Le&atilde;o</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Vice President Executive Officer and
Investor Relations Officer&#9;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Gustavo Alejo Viviani</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Vice President Executive Officers&#9;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Alessandro Tomao</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Carlos Jos&eacute; da Costa Andr&eacute;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Ede Ilson Viani</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Franco Raul Rizza</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Germanuela de Almeida de Abreu</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Luis Guilherme Mattoso de Oliem Bittencourt</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Gilberto Duarte de Abreu Filho</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Maria Elene Lanciego Perez</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Maria Teresa Mauricio da Rocha Pereira Leite</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Renato Ejnisman</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%"><P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Officers without specific designation</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Alessandro Chagas Farias</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Alexandre Teixeira de Araujo</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Alexandre Guimar&atilde;es Soares</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Ana Paula Vitali Janes Vescovi</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Andr&eacute; Jua&ccedil;aba de Almeida</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Carlos Aguiar Neto&#9; &#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Celso Mateus De Queiroz</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Cezar Augusto Janikian</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Claudia Chaves Sampaio</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Claudenice Lopes Duarte</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Daniel Mendon&ccedil;a Pareto</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Eduardo Alvarez Garrido</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Eduardo Luis Sasaki</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Enrique Cesar Suares Fragata Lopes</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Franco Luigi Fasoli</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Geraldo Jos&eacute; Rodrigues Alckmin
Neto&#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Gustavo de Sousa Santos</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Izabella Ferreira Costa Belisario</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P></TD>
  <TD STYLE="width: 50%"><P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Jean Paulo Kambourakis</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Leonardo Mendes Cabral</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Luciana de Aguiar Barros</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Marilize Ferrazza Santinoni</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Paulo C&eacute;sar Ferreira de Lima Alves</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Paulo Fernando Alves Lima</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Paulo S&eacute;rgio Duailibi</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Rafael Abujamra Kappaz</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Ram&oacute;n Sanchez Santiago&#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Reginaldo Antonio Ribeiro</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Ricardo Olivare de Magalh&atilde;es</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Richard Flavio Da Silva</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Robson de Souza Rezende</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Sandro Kohler Marcondes</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Sandro Mazerino Sobral</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Thomaz Antonio Licari&atilde;o Rocha
&#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Vanessa Alessi Manzi</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">V&iacute;tor Ohtsuki</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B>Accountant</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Camilla Cruz Oliveira de Souza &ndash;
CRC N&ordm; 1SP &ndash; 256989/O-0</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 137 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->136<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B><A NAME="fp_058"></A>Directors&rsquo; statement
on the Financial Statements</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Pursuant to the provisions of article 27,
&sect; 1, item VI, of the Brazilian Securities and Exchange Commission (CVM) Instruction No. 80, dated March 29, 2022, the members of
the Executive Board of Banco Santander (Brasil) S.A. (Banco Santander) hereby declare that they have discussed, reviewed, and concurred
with the Financial Statements of Banco Santander for the fiscal year ended on December 31, 2024. These Statements have been prepared in
accordance with the International Financial Reporting Standards (IFRS&reg;) and include the Management Report, Consolidated Balance Sheet,
Consolidated Statement of Income, Consolidated Statement of Comprehensive Income, Statement of Changes in Shareholders' Equity, Statement
of Cash Flows, Statement of Value Added, and Notes to the Financial Statements, all of which have been prepared in accordance with the
accounting standards adopted in Brazil, as per Law No. 6.404, dated December 14, 1976 (Brazilian Corporation Law), and the international
financial reporting standards issued by the International Accounting Standards Board (IASB). The referenced Financial Statements and their
accompanying documents have received an unqualified opinion from the Independent Auditors and have been recommended for approval by the
Bank's Audit Committee to the Board of Directors, with a favorable opinion from the Bank's Fiscal Board.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Members of the Executive Board of Banco
Santander as of December 31, 2024:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Executive Board</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Chief Executive Officer&#9;</B></P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Mario Roberto Opice Le&atilde;o</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Vice President Executive Officer and
Investor Relations Officer&#9;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Gustavo Alejo Viviani</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Vice President Executive Officers</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Alessandro Tomao</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Carlos Jos&eacute; da Costa Andr&eacute;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Ede Ilson Viani</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Franco Raul Rizza</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Germanuela de Almeida de Abreu</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Luis Guilherme Mattoso de Oliem Bittencourt</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Gilberto Duarte de Abreu Filho</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Maria Elene Lanciego Perez</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Maria Teresa Mauricio da Rocha Pereira Leite</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Renato Ejnisman</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%"><P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Officers without specific designation</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Alessandro Chagas Farias</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Alexandre Teixeira de Araujo</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Alexandre Guimar&atilde;es Soares</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Ana Paula Vitali Janes Vescovi</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Andr&eacute; Jua&ccedil;aba de Almeida</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Carlos Aguiar Neto&#9; &#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Celso Mateus de Queiroz</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Cezar Augusto Janikin</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Claudia Chaves Sampaio</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Claudenice Lopes Duarte</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Daniel Mendon&ccedil;a Pareto</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Eduardo Alvarez Garrido</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Eduardo Luis Sasaki</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Enrique Cesar Suares Fragata Lopes&#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Franco Luigi Fasoli</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Geraldo Jos&eacute; Rodrigues Alckmin
Neto</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Gustavo de Sousa Santos</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Izabella Ferreira Costa Belisario</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">&nbsp;</P></TD>
  <TD STYLE="width: 50%"><P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Jean Paulo Kambourakis</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Leonardo Mendes Cabral</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Luciana de Aguiar Barros</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Marilize Ferrazza Santinoni</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Paulo C&eacute;sar Ferreira de Lima Alves</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Paulo Fernando Alves Lima</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Paulo S&eacute;rgio Duailibi&#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Rafael Abujamra Kappaz&#9;</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Ram&oacute;n Sanchez Santiago</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Reginaldo Antonio Ribeiro</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Ricardo Olivare de Magalh&atilde;es</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Richard Flavio Da Silva</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Robson de Souza Rezende</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Sandro Kohler Marcondes</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Sandro Mazerino Sobral</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Thomaz Antonio Licariao Rocha &#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Vanessa Alessi Manzi</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">V&iacute;tor Ohtsuki</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>


<!-- Field: Page; Sequence: 138 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->137<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B><A NAME="fp_059"></A>Directors&rsquo; statement
on the Independent Auditors</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Pursuant to the provisions of article 27,
&sect; 1, item VI, of the Brazilian Securities and Exchange Commission (CVM) Instruction No. 80, dated March 29, 2022, the members of
the Executive Board of Banco Santander (Brasil) S.A. (Banco Santander) hereby declare that they have discussed, reviewed, and concurred
with the Financial Statements of Banco Santander for the fiscal year ended on December 31, 2024. These Statements have been prepared in
accordance with the International Financial Reporting Standards (IFRS&reg;) and include the Management Report, Consolidated Balance Sheet,
Consolidated Statement of Income, Consolidated Statement of Comprehensive Income, Statement of Changes in Shareholders' Equity, Statement
of Cash Flows, Statement of Value Added, and Notes to the Financial Statements, all of which have been prepared in accordance with the
accounting standards adopted in Brazil, as per Law No. 6.404, dated December 14, 1976 (Brazilian Corporation Law), and the international
financial reporting standards issued by the International Accounting Standards Board (IASB). The referenced Financial Statements and their
accompanying documents have received an unqualified opinion from the Independent Auditors and have been recommended for approval by the
Bank's Audit Committee to the Board of Directors, with a favorable opinion from the Bank's Fiscal Board.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Members of the Executive Board of Banco
Santander as of December 31, 2024:</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Executive Board</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Chief Executive Officer&#9;</B></P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Mario Roberto Opice Le&atilde;o</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Vice President Executive Officer and
Investor Relations Officer&#9;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Gustavo Alejo Viviani</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Vice President Executive Officers</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Alessandro Tomao</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Carlos Jos&eacute; da Costa Andr&eacute;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Ede Ilson Viani</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Franco Raul Rizza</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Germanuela de Almeida de Abreu</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Luis Guilherme Mattoso de Oliem Bittencourt</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Gilberto Duarte de Abreu Filho</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Maria Elene Lanciego Perez</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Maria Teresa Mauricio da Rocha Pereira Leite</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Renato Ejnisman</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 9pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%"><P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>Officers without specific designation</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Alessandro Chagas Farias</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Alexandre Teixeira de Araujo</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Alexandre Guimar&atilde;es Soares</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Ana Paula Vitali Janes Vescovi</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Andr&eacute; Jua&ccedil;aba de Almeida</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Carlos Aguiar Neto&#9; &#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Celso Mateus de Queiroz</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Cezar Augusto Janikin</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Claudia Chaves Sampaio</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Claudenice Lopes Duarte</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Daniel Mendon&ccedil;a Pareto</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Eduardo Alvarez Garrido</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Eduardo Luis Sasaki</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Enrique Cesar Suares Fragata Lopes&#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Franco Luigi Fasoli</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Geraldo Jos&eacute; Rodrigues Alckmin
Neto</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Gustavo de Sousa Santos</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Izabella Ferreira Costa Belisario</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">&nbsp;</P></TD>
  <TD STYLE="width: 50%"><P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Jean Paulo Kambourakis</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Leonardo Mendes Cabral</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Luciana de Aguiar Barros</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Marilize Ferrazza Santinoni</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Paulo C&eacute;sar Ferreira de Lima Alves</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Paulo Fernando Alves Lima</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Paulo S&eacute;rgio Duailibi&#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Rafael Abujamra Kappaz&#9;</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Ram&oacute;n Sanchez Santiago</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Reginaldo Antonio Ribeiro</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Ricardo Olivare de Magalh&atilde;es</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Richard Flavio Da Silva</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Robson de Souza Rezende</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Sandro Kohler Marcondes</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Sandro Mazerino Sobral</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Thomaz Antonio Licariao Rocha &#9;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">Vanessa Alessi Manzi</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: justify">V&iacute;tor Ohtsuki</P></TD></TR>
</TABLE>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>


<!-- Field: Page; Sequence: 139 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->138<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
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    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify; color: red"><B><A NAME="fp_060"></A>Audit Committee Report</B></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Audit Committee of Banco Santander
(Brasil) S.A. (&quot;Santander&quot;), lead institution of the Santander&acute;s Economic and Financial Conglomerate (&quot;Conglomerate&rdquo;),
acts as single entity for all the institutions and companies&rsquo; part of the Conglomerate, including those entities under the supervision
of the Superintendence of Private Insurance - SUSEP. In compliance with the U.S. Securities and Exchange Commission, the Audit Committee
acts as the Audit Committee of Santander in accordance with the provisions of the Sarbanes-Oxley Act.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">According to its Charter, available on
Santander&acute;s Investors Relations website (www.ri.santander.com.br), the Audit Committee, among its attributions, advises the Board
of Directors on the oversight of the reliability of the financial statements, its compliance with the applicable rules and legislation,
the effectiveness and independence of the work performed by the internal and independent auditors, as well as on the effectiveness of
the internal control system and operational risk management. Besides that, the Audit Committee also recommends amendments and improvements
on policies, practices and procedures identified in the course of its duties, whenever deemed necessary.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Audit Committee is currently composed
of five independent members, elected according to resolution approved at the meeting of the Board of Directors held on May 02, 2024. It
acts through meetings with executives, auditors and specialists and conducts analyzes based on the reading of documents and information
submitted to it, as well as taking initiatives in relation to other procedures deemed necessary. The Audit Committee's evaluations are
primarily based on information received from Management, internal and independent auditors and the areas responsible for monitoring internal
controls and operational risks.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Committee's reports are regularly sent
to the Board of Directors, through regular reports from the Committee coordinator at Board of Directors meetings.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Regarding its attributions, the Audit Committee
performed the following activities:</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><U>Financial Statements</U></B></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Audit Committee reviewed the financial
statements of Santander, confirming its adequacy, in compliance with Brazilian corporate law, accounting practices, the rules of the Brazilian
Securities and Exchange Commission (&ldquo;CVM&rdquo;) and the International Financial Reporting Standards (&ldquo;IFRS&rdquo;) issued
by the International Accounting Standards Board (&ldquo;IASB&rdquo;) and, as listed on the NYSE, issued by the SEC and Sarbanes-Oxley
Act. In this regard, it acknowledged the results recorded in the second semester of 2024 of Santander, in IFRS standard.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Audit Committee held meetings with
the independent auditors and professionals responsible for the accounting and preparation of the financial statements, prior to their
disclosure.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><U>Internals Controls and Operational
Risks Management</U></B></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Audit Committee received information
and held meetings with the Executive Vice-Presidency of Risks - including attending meetings of the Risk and Compliance Committee, the
Compliance Directorship, Internal Controls and the relevant professionals responsible for the management, implementation and dissemination
of the Conglomerate's internal controls and risk management culture and infrastructure. It also verified cases dealt by the &ldquo;Canal
Aberto&rdquo; (Whistleblowing channel) and by the Information Security and Anti-Fraud areas. Such verifications were conducted in accordance
with current regulations.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><U>Internal Audit</U></B></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Audit Committee met formally with the
Chief Audit Officer and with other Internal Audit representatives on several occasions during the second semester of 2024, in addition
to receiving the report of the work performed, the reports issued and their respective conclusions and recommendations, highlighting (i)
the fulfillment of recommendations for improvements in areas which controls were considered &quot;To be improved&quot;; (ii) the results
of the improvements applied to monitor and comply with the recommendations and their action plans for continuous progress; and (iii) meeting
the demands of regulatory bodies. In several other occasions, Internal Audit professionals attended the meetings of the Audit Committee,
providing expert information.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><U>Independent Audit</U></B></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Regarding the Independent Audit work performed
by PricewaterhouseCoopers Auditores Independentes (&quot;PwC&quot;), the Audit Committee met formally on several occasions in the second
half of 2024. At these meetings the following topics were highlighted: discussions involving the financial statements for the second semester
ended 2024, accounting practices, the main audit matters (&ldquo;PAAs&rdquo;) and eventual deficiencies and recommendations raised in
the internal control report and detailed report on the revision of &ldquo;Allowance for Loan Losses&rdquo;. In addition, the Committee
met with the Independent Auditor in executive sessions to discuss topics of interest, such as the Brazilian Tax Reform. The Audit Committee
evaluated the proposals submitted by PwC for the performance of other services, in order to verify the absence of conflicts of interest
or potential risk of loss of independence. The Committee also met with KPMG Auditores Independentes (&ldquo;KPMG&rdquo;), responsible
for the audit of Banco RCI Brasil S.A., member of the Conglomerate.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 140 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->139<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 0pt"><p style="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><b>*Values expressed in thousands, except when indicated</B></P><P STYLE="font: 9pt Segoe UI,sans-serif; margin: 0; background-color: white; color: #212529"><B>&nbsp;</b></p></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify"></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><U>Ombudsman</U></B></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">In accordance with the current regulation,
specific works were carried out in the second semester of 2024, which were presented to the Audit Committee that discussed and evaluated
them. In addition to reporting the work of 2024, the Committee also took note of the Ombudsman's half-yearly report, both from Santander
and its affiliates, and from the companies&rsquo; part of the Conglomerate that have their own Ombudsman for the semester ended December
31, 2024.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><U>Regulatory Bodies</U></B></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">The Audit Committee monitors and acts on
the results of the inspections and notes of regulatory and self-regulatory bodies and the respective measures adopted by management to
comply with such notes, accompanies the new regulations and holds meetings with regulators, whenever requested. In the case of the Central
Bank of Brazil, it holds regular meetings with the supervisors of the Banking Supervision Department - Desup and the Conduct Supervision
Department - Decon.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><U>Others Activities</U></B></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Besides the activities described above,
as part of the work inherent to its attributions, the Audit Committee met with senior management and several areas of the Conglomerate,
furthering its analysis, with emphasis on the following topics: (i) monitoring of regulatory capital; (ii) monitoring inspections reports
and notes from regulators, ongoing inspections and the correspondent action plans adopted to meet the requests; (iii) monitoring of cybersecurity
themes; (iv) monitoring the Sustainability themes, amongst with Sustainability Committee; (v) monitoring of topics related to conduct,
PLD/CFT, KYC policies and action plans for continuous improvements; (vi) monitoring of the activities of the customer relations department,
its action plans and results; (vii) monitoring of tax, labor and civil litigation; (viii) review and approval of the Tax Credit Realization
Technical Study; and (ix) monitoring of provisions and topics related to PCLD.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">During the period, members of the Audit
Committee also participated in training, lectures and programs on topics related to its activities, and on regulations of interest and
impact to the Conglomerate.</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify"><B><U>Conclusion</U></B></P>

<P STYLE="font: 9pt/132% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">Based on the work and assessments carried
out, and considering the context and scope in which it carries out its activities, the Audit Committee concluded that the work carried
out is appropriate and provides transparency and quality to the Financial Statements of Santander, for the semester ended on December
31, 2024, recommending its approval by the Board of Directors of Santander.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: center">S&atilde;o Paulo, February 27, 2025.</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: center"><B>Audit Committee</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 2pt; text-align: center">Pedro Augusto de Melo &ndash; Chairman</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: center">Maria Elena Cardoso Figueira &ndash; Financial
Expert</P>

<P STYLE="font: 9pt/11.7pt Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: center">Ren&eacute; Luiz Grande</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: center">Andrea Maria Ramos Leonel</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: center">Luiz Carlos Nannini</P>

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 141; Options: Last -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR><TR><TD STYLE="text-align: left; width: 50%">&#160;<IMG SRC="fpages_003.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; text-align: right; width: 50%"><FONT STYLE="font-family: CALIBRI; font-size: 8pt">Consolidated Financial Statements | December&#160;31, 2024 | F - <!-- Field: Sequence; Type: Arabic; Name: PageNo -->140<!-- Field: /Sequence --></FONT></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 9pt/130% Calibri, Helvetica, Sans-Serif; margin: 0 0 5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>SIGNATURE</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt; background-color: white">Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto
duly authorized.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt; background-color: white">Date:&nbsp;February 28, 2025</P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3"><B>Banco Santander (Brasil) S.A.</B></TD></TR>
  <TR>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 87%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">/</FONT><FONT STYLE="font-size: 7.5pt">S</FONT><FONT STYLE="font-size: 10pt">/&nbsp;</FONT><B>Reginaldo
    Antonio Ribeiro</B></P>




<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black"></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><B>Reginaldo Antonio Ribeiro<BR>
Officer Without Specific Designation</B></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 87%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom">
    <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">/s/<B>&nbsp;Gustavo Alejo Viviani</B></P>

<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 100%; color: black"></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><B>Gustavo Alejo Viviani<BR>
Vice - President Executive Officer</B></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
