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Earnings per share (basic and diluted)

12 Months Ended

Dec. 31, 2025

33 Earnings per share (basic and diluted)

Basic earnings per share is calculated by dividing net income for the period attributed to the owners of the parent by the weighted average number of ordinary shares outstanding during the period.

Diluted earnings per share is calculated by dividing net income attributable to owners of XP Inc by the weighted average number of shares outstanding during the year plus the weighted average number of shares that would be issued on conversion of all dilutive potential shares into shares by applying the treasury stock method. The shares in the share-based plan are the only shares with potential dilutive effect.

The following table presents the calculation of basic and diluted earnings per share:


	2025	2024	2023

Net Income attributable to owners of the Parent	5,169,787	4,513,409	3,898,702
Basic weighted average number of outstanding shares (i) (iii)	527,318	541,673	539,835
Basic earnings per share - R$	9.8039	8.3324	7.2220

Effect of dilution
Share-based plan (ii) (iii)	4,605	6,646	4,377
Diluted weighted average number of outstanding shares (iii)	531,923	548,319	544,212
Diluted earnings per share - R$	9.7191	8.2314	7.1639

(i)See on note 24, the number of XP Inc.’s outstanding common shares during the year.

(ii)See on note 32, the number of shares granted and forfeited during the year regarding XP Inc.’s share-based plan.

(iii)Thousands of shares.