BRBI 6-K 2025 - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or

15d-16 of the Securities Exchange Act of 1934

For the month of November 2025

Commission File Number: 001-42757

BRBI BR Partners S.A.

(Exact Name as Specified in its Charter)

N/A

(Translation of registrant’s name into English)

3,732, Floor 28, CEP 04538-132

Avenida Brigadeiro Faria Lima

São Paulo, SP, Brazil

(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

Form 20-F: ☒ Form 40-F: ☐

EXHIBIT INDEX

Exhibit No.	****	Description
99.1		Consolidated Interim Financial Information

SIGNATURES

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, thereunto duly authorized.

Date: November 6, 2025

****	BRBI BR Partners S.A.
	By:	/s/ Vinicius Carmona Cardoso
	Name:	Vinicius Carmona Cardoso
	Title:	Investor Relations Officer

Exhibit 99.1

Content

Comments on performance	1
Independent auditors’ report on review of condensed<br>parent company and consolidated financial information	4
Statements of financial position	6
Condensed statements of profit or loss	8
Condensed statements of comprehensive income	9
Condensed statements of changes in shareholders’<br>equity	10
Condensed statements of cash flows	11
Condensed statements of value added	12
Notes to the condensed parent company and consolidated<br>quarterly financial information	13

BRBI BR Partners S.A. (formerly “BR Advisory Partners ParticipaçõesS.A.”)

Comments on performance

Dear Shareholders,

We hereby submit for your consideration the condensed parent company and consolidated interim financial information of BRBI BR Partners S.A. (“Company”) for the third quarter ended September 30, 2025.

We highlight the following facts in the thirdquarter of 2025:

Economic context

The 3Q25 was marked by the gradual transition of the global monetary policy cycle, with the first concrete signs of easement in the United States, Europe still in a wait-and-see mode, China combating deflationary pressures, and Brazil in a prolonged pause, maintaining high interest rates in the face of persistent inflation. The international environment continued to be influenced by the U.S. tariff escalation and the political impacts of elections in various countries, in a context where asset volatility remained high and capital flows to emerging markets showed moderate recovery. In the markets, the 3Q25 was characterized by adjustments in global interest rate curves, appreciation of the US dollar, slight corrections in international stock markets, and an increase in metal commodities, driven by targeted stimulus in China and a reflection of the balance between supply and demand. Despite this environment, global growth maintained a moderate pace, with downward revisions for global GDP due to the slowdown in Europe and the persistent weakness of Chinese demand.

In Brazil, 3Q25 consolidated the scenario of resilience in domestic activity in the face of an still restrictive monetary environment. The Central Bank kept the Selic rate at 15.0% per year in the meetings of July and September, reinforcing the message of prudence and highlighting the importance of observing the convergence of inflation before starting a new cut cycle. The IPCA accumulated a rise of 4.9% in 12 months up to September, slightly above the target, driven by underlying services and administered adjustments, such as energy and health plans. The inflation of industrial goods continued to show moderation, reflecting the drop in commodity prices and a relatively stable exchange rate. The job market remained tight, with an unemployment rate of 5.6% 3Q25, the lowest level in the historical series, supporting real wage growth and household consumption. GDP is expected to grow by about 0.6% in 3Q25, driven by services and the agricultural sector, while the industry continues to recover gradually. On the other hand, the fiscal policy remained at the center of the debate: the primary accumulated deficit over 12 months reached 0.8% of GDP, reflecting an increase in mandatory expenses and disappointment in revenue from state-owned companies’ dividends. The government sought to offset part of this imbalance with targeted revenue measures and expenses cuts, but the perception of fiscal risk still limits the room for a more significant decrease in interest rates.

In Europe, 3Q25 was marked by the maintenance of a restrictive monetary policy and consolidation of a scenario of moderated inflation, although still above the target. The European Central Bank kept the interest rate at 2.0%, highlighting that disinflation has been progressing, but this process still requires caution. Inflation in the eurozone dropped to 2.2% in September, after reaching 2.5% in July, reflecting the slowdown in energy and food prices. Wages showed a faster cooling than expected, helping to anchor inflation expectations for 2026 close to the 2.0% target. In terms of activity, the eurozone’s GDP grew 0.4% in 3Q25, driven by the gradual recovery of domestic demand in Germany and the fiscal investment package in infrastructure, which continued to support the construction industry and the renewable energy sector. Still, the block remains vulnerable to external shocks, especially to trade disputes with the United States. The threat of new tariffs on European vehicles and chemical products remains on the radar, potentially causing a significant impact on the statement of financial position of the continent.

In the United States, 3Q25 marked a turning point in monetary policy, with the Federal Reserve implementing the first interest rate cut since December 2024. The Fed Funds rate was reduced by 0.25 percentage points, to a range between 4.00% and 4.25%, in a unanimous decision that reflected the assessment that the risks of keeping the policy too tight outweighed those of a premature easing. The job market showed new signs of moderation, with an unemployment rate of 4.3% in August and net job creation below expectations.

BRBI BR Partners S.A. (formerly “BR Advisory Partners ParticipaçõesS.A.”)

Comments on performance

Inflation continued to decline, with the 12-month CPI at 2.9% and the core at 3.1%, reinforcing the perception that the disinflation process is underway, although it still depends on a slowdown of consumption. GDP grew by 0.5% in 3Q25, maintaining a trend of moderate expansion, with household consumption and corporate investments showing some loss of momentum. Despite the interest rate cut, the yield curve of Treasuries remained inverted, reflecting the view that the Fed may continue to gradually reduce interest rates throughout 2026. In the commercial plan, the U.S. government intensified its tariff policy, raising taxes on imports from Brazil, China, and the European Union, with the stated goal of protecting strategic sectors and reducing external dependencies. These measures increased the risk of retaliation and heightened uncertainty about global supply chains. Still, the U.S. economy maintained solid fundamentals, with converging inflation, resilient consumption, and a stabilized housing market.

China went through the 3Q25 facing the challenge of reversing the deflationary situation and reviving the real estate market, which is still marked by low confidence and excess inventory. China’s GDP grew 4.5% year-on-year, slightly below the pace observed at the beginning of the year, with a slowdown in domestic consumption and exports pressured by weak global demand. The CPI recorded a negative change of 0.3% in September, while the PPI dropped 2.3%, signaling that deflationary pressures remain widespread. The central government adopted new fiscal and monetary policy, including credit expansion through state banks and increased investments in infrastructure, especially in coastal provinces. However, the response from the private sector remains limited by distrust in the real estate sector, where sales continue to decline and residential property prices have decreased in more than 70% of the monitored cities. On the external front, the partial reduction of tariffs imposed by the United States on Chinese products, now averaging 30%, helped to ease industrial exports, which grew by 2.1% in the 3Q25.

Business performance

In the 3Q25, in the Financial Advisory area, we continued to feel the impacts of the restrictive monetary policy and uncertain fiscal and political scenario on our activities. Although we have still achieved a healthy revenue level, we announced three transactions in the area, which were: i) the advisory to Banese in the agreement with Mongeral Aegon (MAG) for the marketing and distribution of insurance products; ii) the advisory to the board of directors of Cosan for the capital increase through new shares; iii) and in the advisory to Kovr Seguradora regarding its sale to the company’s executives. We emphasize that we are still working with a very diversified and large portfolio, but that, given the adversities in the international trade scenario and the challenges in the local economy mentioned above, is becoming more difficult to convert transactions.

The Capital Markets area maintained a sound activity during the 3Q25, taking advantage of the strong demand from issuers for debt products, especially incentivized products in our case, as well as a strong demand among fixed income investors for the primary market. The area structured 8 debt operations, including CRIs, CRAs, Debentures, and FIDCs, totaling a volume of R$ 1.7 billion in issues in the period.

The Treasury area for clients (Treasury Sales & Structuring) recorded a robust result, driven by strong debt issuance activity in the primary market during the period, as well as the maintenance of risk management activities for clients. In 3Q25, the volume traded in derivatives and foreign exchange reached R$ 7.9 billion.

At BR Partners Banco de Investimento S.A. (“Bank”), the Company continued promoting the asset portfolio, while investing in products originated by the Capital Markets area, and ended the 3Q25 with a portfolio of R$ 3.6 billion in private securities and Bridge Loans. It is important to point out that 100% of this portfolio is made up of securities from companies for which BR Partners acts as a debt structurer, and therefore it thoroughly analyzes the risk of each issuer.

The Wealth Management area continues with healthy activity and finding growth opportunities, with the prospecting and onboarding of new clients. At the end of September 2025, the assets under management reached R$ 5.9 billion, accounting for an increase of 25% compared to the end of September 2024.

BRBI BR Partners S.A. (formerly “BR Advisory Partners ParticipaçõesS.A.”)

Comments on performance

In addition to the operational context, on September 17, 2025, negotiations for the Level II American Depositary Receipt (“ADR”) program began on Nasdaq Inc., backed by four (4) units listed on B3 (“BRBI11”). Therefore, the Company continues its listing on B3 (Brazil) and has begun to be listed on the North American stock market through American Depositary Receipts (ADRs), via a ticker (Nasdaq: BRBI), denominated in US dollars, with trading and settlement mechanisms compliant with Nasdaq regulations, as well as local legislation and oversight.

It is worth highlighting that the Level II ADR program does not grant any offer of shares or any increase in the Company’s share capital or fundraising.

Consolidated financial performance

Despite the still challenging macroeconomic scenario, total revenues reached R$ 133.3 million in 3Q25, compared to R$ 157.7 million in 3Q24, reflecting a negative change of 15.5%. Net income reached R$ 42.2 million, compared to R$ 50.1 million in the 3Q24, accounting for a -15.8% decrease over the previous year. The return on shareholders’ equity was 20.9%. The Company ended the year with shareholders’ equity of R$ 809.6 million.

Policy on reinvestment and distribution ofdividends

The Company does not have a formal policy on reinvestment by its shareholders; all reinvestments verified thus far were deliberated by the shareholders at the AGM/EGM.

The Company’s dividend policy provides for the annual distribution of the mandatory minimum dividend of 25%. However, the Company intends to remunerate its shareholders according to the calculation of the profits earned during the year, making its best efforts to distribute dividends at a higher percentage that established by current legislation.

Social initiatives

The Company supports, through tax incentive laws, non-governmental organizations with projects mainly related to health, education, sports, diversity and gender equity.

Relationship with independent auditors

Pursuant to the provisions of CVM Resolution 162/22 of the Brazilian Securities and Exchange Commission, the Company has an established policy and process for hiring an independent audit, considering aspects of transparency, compliance, objectivity and independence. Furthermore, aspects of potential conflicts of interest when engaging the same audit company for services of other natures are assessed to mitigate risks of loss of independence or objectivity in the performance of its activities. Information related to audit company fees is made available annually in our Reference Form.

Executive Board

Accountant

Hideo Antonio Kawassaki

CRC 1SP 184007/O-5

The Capital Market maintained a sound activity during the quarter, taking advantage of the stronger demand for

KPMG Auditores Independentes Ltda.

Rua Arquiteto Olavo Redig de Campos, 105, 12º andar - Torre A - 04711-904 - São Paulo/SP - Brazil

Caixa Postal 79518 - CEP 04707-970 - São Paulo/SP - Brazil

Telephone +55 (11) 3940-1500, Fax +55 (11) 3940-1501

www.kpmg.com.br

Independent auditors’ report on the condensedparent company and consolidated interim financial information

The Shareholders and Board of Directors of

BRBI BR Partners S.A. (formerly known as “BRAdvisory Partners Participações S.A.”)

São Paulo - SP

Introduction

We have reviewed the condensed parent company and consolidated interim financial information of BRBI Partners S.A. (“Company”), formerly known “BR Advisory Partners Participações S.A.”, contained in the Quarterly Information – ITR Form for the quarter ended September 30, 2025, which comprise the statements of financial position as of September 30, 2025, the statements of profit or loss and comprehensive income for the three and nine-month period then ended, of changes in shareholder’s equity and cash flows for the nine-month period then ended, including the explanatory notes.

Management is responsible for the preparation and presentation of this parent company and consolidated condensed interim financial information in accordance with CPC 21(R1) and international standard IAS 34 – Interim Financial Reporting, issued by the International Accounting Standards Board – (IASB), as well as for the presentation of this information in accordance with the standards issued by the Brazilian Securities and Exchange Commission, applicable to the preparation of the Interim Financial Information (ITR). Our responsibility is to express a conclusion on these condensed parent company and consolidated interim financial information based on our review.

Scope of the review

We conducted our review in accordance with Brazilian and international review standards applicable to interim financial information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

KPMG Auditores Independentes, uma sociedade simples brasileira e firma-membro da rede KPMG de firmas-membro independentes e afiliadas à KPMG International Cooperative (“KPMG International”), uma entidade suíça.	KPMG Auditores Independentes, a Brazilian entity and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.

Conclusion on the condensed parent companyand consolidated interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed parent company and consolidated interim financial information as of September 30, 2025 is not prepared, in all material respects, in accordance with CPC 21(R1) and IAS 34, applicable to the preparation of interim financial information and presented in accordance with the standards issued by the Brazilian Securities and Exchange Commission.

Other matters - Statements of Value Added

The condensed parent company and consolidated interim financial information includes the parent company and consolidated statements of value added for the nine-month period September 30, 2025, prepared under the responsibility of Company’s management and presented as supplementary information for IAS 34 purposes. These statements have been submitted to review procedures performed together with the review of the quarterly financial statements to conclude whether they are reconciled to the condensed parent company and consolidated interim financial information and accounting records, if applicable, and whether their form and content are in accordance with the criteria set by Technical Pronouncement CPC 09 - Statement of Value Added. Based on our review, we are not aware of any fact that leads us to believe that these statements of value added have not been prepared, in all material respects, according to the requirements of this Standards and in a manner consistent with the condensed parent company and consolidated interim financial information taken as a whole.

São Paulo, November 6, 2025

KPMG Auditores Independentes Ltda.

CRC 2SP-014428/O-6

Original report is Portuguese signed by

Marco Antonio Pontieri

Accountant CRC 1SP153569/O-0

KPMG Auditores Independentes, uma sociedade simples brasileira e firma-membro da rede KPMG de firmas-membro independentes e afiliadas à KPMG International Cooperative (“KPMG International”), uma entidade suíça.	KPMG Auditores Independentes, a Brazilian entity and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Condensed statements of financial position as of September 30, 2025 and December 31, 2024

(In thousands of reais)

		Parent Company				Consolidated
	Notes	09/30/2025		12/31/2024		09/30/2025		12/31/2024
Assets
Cash and cash equivalents	4		2		2		516,143		575,235
Financial assets at fair value through profit or loss	5(a)		123,221		117,895		10,849,875		9,273,217
- Government bonds			-		-		10,404,623		8,684,734
- Private securities			-		-		313,052		405,612
- Investment fund quotas			123,221		117,895		132,200		182,871
Financial assets at fair value through other comprehensive income	5(b)		-		-		3,086,942		2,379,657
- Private securities			-		-		1,324,110		1,063,568
- Investment fund quotas			-		-		1,762,832		1,316,089
Derivative financial instruments	6(a)		1,744		-		1,052,621		1,071,190
Financial asset at amortized cost	7a		-		-		1,280,989		1,576,438
- Loans			-		-		306,956		346,523
- Other financial assets at amortized cost			-		-		974,033		1,229,915
Dividends receivable			-		11,105		-		-
Other assets			809		54		25,021		27,260
Deferred tax assets	17(b)		4,964		3,060		83,949		95,639
Equity-accounted investees	9		832,243		696,170		-		-
Property, plant and equipment			-		-		45,689		42,329
Intangible assets			-		-		13,085		15,522
Total assets			962,983		828,286		16,954,314		15,056,487

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Condensed statements of financial position as of September 30, 2025 and December 31, 2024

(In thousands of reais)

		Parent Company						Consolidated
	Notes	09/30/2025			12/31/2024			09/30/2025			12/31/2024
Liabilities
Financial liabilities at amortized cost	11		-			-			15,597,417			13,664,510
- Repurchase agreements			-			-			9,630,683			8,056,208
- Client deposits			-			-			1,941,813			2,627,471
- Funds from securities issued			-			-			3,227,221			1,841,558
- Other financial liabilities			-			-			797,700			1,139,273
Derivative financial instruments	6a		-			-			264,175			317,315
Amounts payable			130,552			2,739			86,754			93,253
- Suppliers			297			237			2,689			16,022
- Other amounts payable	10		130,255			2,502			84,065			77,231
Taxes payable			175			117			18,077			12,806
Current tax liabilities			-			-			8,036			15,914
Deferred tax liabilities	17b		22,651			20,840			170,250			148,099
Total liabilities			153,378			23,696			16,144,709			14,251,897
Shareholders’ equity
Capital	12a		674,940			674,940			674,940			674,940
Capital reserves			(30,193	)		(30,193	)		(30,193	)		(30,193	)
Profit reserves			81,049			169,245			81,049			169,245
Other comprehensive (loss)			(8,932	)		(9,402	)		(8,932	)		(9,402	)
Retained earnings			92,741			-			92,741			-
Total shareholders’ equity			809,605			804,590			809,605			804,590
Total liabilities and shareholders’ equity			962,983			828,286			16,954,314			15,056,487

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly“BR Advisory Partners Participações S.A.”)

Condensed statements of profit or loss for the three and nine-month period ended September 30

(In thousands of reais)

		Parent Company												Consolidated
		Three-month period <br><br>ended						Nine-month period<br><br> ended						Three-month period <br><br>ended						Nine-month period <br><br>ended
	Notes	09/30/2025			09/30/2024			09/30/2025			09/30/2024			09/30/2025			09/30/2024			09/30/2025			09/30/2024
Interest revenues and gains on financial instruments			364			-			12,239			10,590			4,902,330			1,779,785			9,868,149			4,894,833
Interest expenses and (losses) on financial instruments			(3,462	)		(388	)		(5,170	)		(218	)		(4,840,275	)		(1,726,559	)		(9,698,917	)		(4,734,451	)
Net interest revenue (expense) and gains (losses) on financial instruments	14		(3,098	)		(388	)		7,069			10,372			62,055			53,226			169,232			160,382
Revenues from rendering of services			-			-			-			-			71,232			104,503			230,830			276,960
Total service revenues	13		-			-			-			-			71,232			104,503			230,830			276,960
Total revenues/(expenses)			(3,098	)		(388	)		7,069			10,372			133,287			157,729			400,062			437,342
Personnel expenses			(150	)		(1,326	)		(2,568	)		(4,255	)		(26,243	)		(32,061	)		(95,075	)		(109,076	)
Administrative expenses	15		(2,336	)		(819	)		(8,039	)		(1,616	)		(31,404	)		(43,879	)		(79,054	)		(98,738	)
Tax expenses	16		-			-			-			-			(10,213	)		(14,723	)		(31,807	)		(35,899	)
Reversal/(provision) due to expected credit losses			-			-			-			-			(839	)		(1395	)		(12,303	)		51
Other revenues			-			-			-			2			548			216			1,617			672
Other expenses			(36	)		-			(619	)		(541	)		(775	)		(473	)		(972	)		(1,571	)
Operating expenses			(2,522	)		(2,145	)		(11,226	)		(6,410	)		(68,926	)		(92,315	)		(217,594	)		(244,561	)
Profit/(loss) before income tax			(5,620	)		(2,533	)		(4,157	)		3,962			64,361			65,414			182,468			192,781
Equity in net income of subsidiaries	9		47,707			52,520			134,603			151,110			-			-			-			-
Profit before income tax			42,087			49,987			130,446			155,072			64,361			65,414			182,468			192,781
Income taxes	17(a)		137			132			93			(3,526	)		(22,137	)		(15,295	)		(51,929	)		(41,235	)
Profit for the period			42,224			50,119			130,539			151,546			42,224			50,119			130,539			151,546
Profit attributable to the Company’s shareholders															42,224			50,119			130,539			151,546
Profit attributable to common shares															26,884			31,910			83,112			96,486
Earnings (loss) per common share															0.13			0.16			0.41			0.48
Profit attributable to preferred shares															15,340			18,209			47,427			55,060
Earnings per preferred share															0.13			0.16			0.41			0.48

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly“BR Advisory Partners Participações S.A.”)

Condensed statements of changes in shareholders’ equity for the nine-month period ended September 30

(In thousands of reais)

	Parent Company												Consolidated
	Three-month period<br><br>ended						Nine-month period<br><br>ended						Three-month period<br><br>ended						Nine-month period<br><br>ended
	09/30/2025			09/30/2024			09/30/2025			09/30/2024			09/30/2025			09/30/2024			09/30/2025			09/30/2024
Profit for the period		42,224			50,119			130,539			151,546			42,224			50,119			130,539			151,546
Items that are or may be reclassified subsequently to profit (loss):		(1,963	)		(2,053	)		470			(2,946	)		(1,963	)		(2,053	)		470			(2,946	)
Fair value through other comprehensive income (FVOCI)
- Adjustment to fair value		(4,123	)		(3,860	)		315			(6,129	)		(4,123	)		(3,860	)		315			(6,129	)
- Tax effect		1,855			1,738			(142	)		2,759			1,855			1,738			(142	)		2,759
Foreign operations - foreign currency translation differences		305			69			297			424			305			69			297			424
Comprehensive income attributable to:
Company’s shareholders		40,261			48,066			131,009			148,600			40,261			48,066			131,009			148,600

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly“BR Advisory Partners Participações S.A.”)

Consolidated statements of changes in shareholders’ equity for the nine-month period ended September 30

(In thousands of reais)

						Profit reserve					Other comprehensive income
	Share capital		Capital reserve			Legal		Other profit reserves			Equity valuation adjustments			Cumulative translation adjustment			Retained earnings			Total <br><br>shareholders’<br><br> equity
December 31, 2023		674,940		(30,193	)		45,003		135,314			(3,527	)		(720	)		-			820,817
Profit for the period		-		-			-		-			-			-			151,546			151,546
Other comprehensive income (loss)		-		-			-		-			(3,370	)		424			-			(2,946	)
Interim dividends paid		-		-			-		(78,748	)		-			-			(31,499	)		(110,247	)
Additional dividends paid - 2023		-		-			-		(12,599	)		-			-			-			(12,599	)
September 30, 2024		674,940		(30,193	)		45,003		43,967			(6,897	)		(296	)		120,047			846,571
December 31, 2024		674,940		(30,193	)		54,686		114,559			(9,030	)		(372	)		-			804,590
Profit for the period		-		-			-		-			-			-			130,539			130,539
Other comprehensive income		-		-			-		-			173			297			-			470
Interim dividends paid- 2025		-		-			-		(69,297	)		-			-			(37,798	)		(107,095	)
Additional dividends paid - 2024		-		-			-		(18,899	)		-			-			-			(18,899	)
September 30, 2025		674,940		(30,193	)		54,686		26,363			(8,857	)		(75	)		92,741			809,605

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Condensed statements of cash flows for the nine-month period ended September 30

(Inthousands of reais)

	Parent Company						Consolidated
	09/30/2025			09/30/2024			09/30/2025			09/30/2024
Cash flows from operating activities
Proft for the period		130,539			151,546			130,539			151,546
Adjustments for:
Effect of changes in exchange rates on cash and cash equivalents		-			-			(23,921	)		(50,515	)
Impairment losses		-			-			12,303			(51	)
Depreciation and amortization		-			-			7,348			6,037
Deferred taxes		(93	)		3,526			33,841			14,700
Provision for contingencies		-			-			107			126
Share of profit of equity-accounted investees		(134,604	)		(151,111	)		-			-
Interest expenses - subordinated financial bills		-			-			67,172			10,057
Adjusted net income		(4,158	)		3,961			227,389			131,900
Change in:
Financial assets at fair value through profit or loss		(5,326	)		(16,371	)		(1,576,658	)		(1,398,242	)
Derivative financial instruments		(1,744	)		-			(34,571	)		(417,395	)
Financial assets at amortized cost
- Loans		-			-			27,264			71,011
- Other financial assets at amortized cost		-			-			255,882			(3,523	)
Financial assets at fair value through other comprehensive income		-			-			(706,815	)		(584,396	)
Other assets		(756	)		(141	)		2,239			(4,443	)
Amounts payable – Suppliers		60			(494	)		(13,333	)		20,591
Financial liabilities at amortized cost
- Repurchase agreements		-			-			1,574,475			1,545,551
- Client deposits		-			-			(685,658	)		(20,555	)
- Debt issued and others		-			-			1,212,423			459,310
- Other financial liabilities		-			-			(341,573	)		(99,518	)
Amounts payable - associated companies		-			(6,568	)		-			-
Taxes payable		58			(5	)		24,628			12,804
Other amounts payable		90,307			50,746			(31,743	)		(33,103	)
Cash generated by (used in) in operating activities		78,441			31,128			(66,051	)		(320,008	)
Income tax and social contribution paid		-			-			(27,235	)		(26,515	)
Net cash generated (used in) operating activities		78,441			31,128			(93,286	)		(346,523	)
Cash flows from investing activities
Payment of capital in equity-accounted investees		(1,000	)		-			-			-
Dividends received		11,105			12,970			-			-
Acquisition of property, plant and equipment for use		-			-			(1,127	)		(3,466	)
Cash generated (used in) investment activities		10,105			12,970			(1,127	)		(3,466	)
Cash flows from financing activities
Payment of interest from subordinated financial bills		-			-			(38,232	)		(3,545	)
Payment of lease liabilities		-			-			(6,122	)		(4,758	)
Issuance of subordinated financial bills		-			-			144,300			372,900
Interim dividends paid		(88,546	)		(44,098	)		(88,546	)		(44,098	)
Cash generated by (used in) in financing activities		(88,546	)		(44,098	)		11,400			320,499
Increase (decrease) in cash and cash equivalents		-			-			(83,013	)		(29,490	)
Cash and cash equivalents at the beginning of the period		2			2			575,235			287,188
Effect of changes in exchange rates on cash and cash equivalents		-			-			23,921			50,515
Cash and cash equivalents at the end of the period		2			2			516,143			308,213
Increase (decrease) in cash and cash equivalents		-			-			(83,013	)		(29,490	)
Supplementary information of operating cash flows
Interest received		-			-			908,421			864,752
Interest paid		-			-			(858,781	)		(942,826	)

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Condensed statements of value added for the nine-month period ended September 30

(In thousands of reais)

	Parent Company						Consolidated
	09/30/2025			09/30/2024			09/30/2025			09/30/2024
Revenues		12,239			10,592			10,088,293			5,172,516
Financial intermediation		12,239			10,590			9,868,149			4,894,833
Rendering of services		-			-			230,830			276,960
Impairment losses		-			-			(12,303	)		51
Other		-			2			1,617			672
Financial expenses		(5,170	)		(218	)		(9,698,917	)		(4,734,451	)
Inputs acquired from third parties		(8,659	)		(2,158	)		(68,967	)		(91,439	)
Materials, energy and others		(1,947	)		(1,616	)		(34,996	)		(26,233	)
Outsourced services		(6,093	)		-			(32,999	)		(63,645	)
Other operating expenses		(619	)		(542	)		(972	)		(1,561	)
Gross value added		(1,590	)		8,216			320,409			346,626
Depreciation and amortization		-			-			(7,348	)		(6,037	)
Net value added produced by the Company		(1,590	)		8,216			313,061			340,589
Value added received as transfer		134,603			151,110			-			-
Equity in net income of subsidiaries		134,603			151,110			-			-
Total value added payable		133,013			159,326			313,061			340,589
Distribution of value added		133,013			159,326			313,061			340,589
Personnel		2,244			3,367			80,514			89,583
Direct remuneration		1,852			2,953			67,542			76,644
Benefits		378			331			10,724			9,196
FGTS (severance indemnity fund)		14			83			2,248			3,743
Taxes, duties and contributions		230			4,413			98,296			96,627
Federal		230			4,413			87,017			82,970
Municipal		-			-			11,279			13,657
Third-party capital remuneration		-			-			3,712			2,833
Rents		-			-			3,712			2,833
Remuneration of equity capital		130,539			151,546			130,539			151,546
Retained earnings		92,741			120,047			92,741			120,047
Interim dividends		37,798			31,499			37,798			31,499

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

1.	Operations

BRBI BR Partners S.A. (“Company” or “Parent Company”, and jointly with subsidiaries, “BR Partners Group” or “Group”), formerly “BR Advisory Partners Participações S.A.” is a publicly-held corporation, headquartered at Avenida Brigadeiro Faria Lima nº 3.732 – 28º floor, in the city of São Paulo, State of São Paulo, and shares traded in units on B3 S.A.

Brasil, Bolsa, Balcão (“B3 S.A.”), under the ticker BRBI11. Each unit of ownership consists of 2 preferred shares and 1 common share of the Company.

The Company is engaged in investing in other companies, domestic or foreign, as a partner, unitholder or shareholder and management of our own assets. Its control is exercised by BR Partners Holdco Participações S.A. (“Holdco”), which represents 35.59% of the common shares and 29% on September 30, 2025 (55.01% at December 31, 2024) of the Company’s total share capital.

On March 21, 2025, BR Advisory Partners Participações S.A. changed its name to BRBI BR Partners S.A.

On August 29, 2025, BR Partners Holdco Participações S.A. - the parent company of the Company - completed the process of partial spin-off of its investments in the subsidiary, resulting in a change in its shareholding in the Company from 55.01% to 29%, without any change in the previously exercised share control.

The Group is part of a context of businesses related to investment banking, capital markets, treasury for clients, investments and wealth management.

2.	Preparation basis and presentation of condensed interim financial information
a.	Statements of conformity regarding the IFRS and Accountant Statements Committee - CPC rules
---	---

The condensed parent company and consolidated interim financial information was prepared in accordance with Technical Pronouncement CPC 21 (R1) – “Interim Financial Reporting”, issued by the Accounting Pronouncement Committee (“CPC”) and approved by the Brazilian Securities and Exchange Commission (“CVM”) and IAS 34 – Interim Financial Reporting, issued by the International Accounting Standards Board (“IASB”). All material information specific to the condensed parent company and consolidated interim financial information, and only thereto, is being ascertained, and corresponds to the information used by Management in managing the company.

The information regarding the basis for the preparation and presentation of the condensed parent company and consolidated interim financial information, as well as summary of material accounting policies did not undergo material changes in relation to those disclosed in the Company’s parent company and consolidated financial statements for the year ended December 31, 2024, which should be read together.

The Company’s condensed interim financial information was approved by the Board of Directors on November 6, 2025.

b.	Functional and presentation currency

The condensed parent company and consolidated interim financial information is presented in thousands of Reais, which is the Company’s functional currency.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

Transactions in foreign currencies are converted into functional currency by using foreign exchange rates prevailing on the transaction or valuation dates when the items are remeasured. Exchange gains and losses resulting from the settlement of those transactions and from the translation at year-end exchange rates referring to monetary assets and liabilities in foreign currencies, are recognized in the statements of profit or loss in the “Interest revenues and gains on financial instruments” or “Interest expenses and (losses) on financial instruments” captions.

Exchange gains and losses resulting from the settlement of those transactions and from the conversion at each period-end exchange rates referring to monetary assets and liabilities in foreign currencies, are recognized in condensed parent company and consolidated interim financial information as interest revenues or expenses and gains on financial instruments. For investments abroad that have a functional currency other than the Real, the effects of the translation are recorded in shareholders’ equity under “Other Comprehensive Income”.

c.	Condensed interim financial information

In the process of interim financial information consolidation, equity interests, asset and liability account balances, revenues, expenses and intercompany unrealized income were eliminated.

We highlight the subsidiaries (direct and indirect) included in the condensed parent company and consolidated interim financial information:

			% interest
	Line of business	Country	09/30/2025 ^(1)^		12/31/2024 ^(1)^
Direct subsidiaries
BR Partners Assessoria Financeira Ltda.	Rendering of Services	Brazil		99.99		99.99
BR Partners Gestão de Recursos Ltda.	Rendering of Services	Brazil		99.99		99.99
BR Partners Participações Financeiras Ltda.	Financial holding company	Brazil		99.99		99.99
BR Partners Mercados de Capitais Ltda.	Rendering of Services	Brazil		99.99		99.99
BR Partners Assessoria em Soluções de Capital Ltda.^(3)^	Rendering of Services	Brazil		99.99		99.99
BR Partners Assessoria Financeira Rio de Janeiro Ltda. ^(4)^	Rendering of Services	Brazil		100		-
Indirect subsidiaries
BR Partners Banco de Investimento S.A.	Investment bank	Brazil		99.99		99.99
BR Partners Europe B.V.	Rendering of Services	Netherlands		100		100
BR Partners Corretora de Seguro Ltda.	Rendering of Services	Brazil		99.99		99.99
Investment funds ^(2)^
Total Fundo de Investimento Multimercado Investimento no Exterior - Crédito Privado	Investment fund	Brazil		100		100
BR Partners Capital	Investment fund	Cayman		100		100
(1)	Percentages<br> below 100% refer to the interest of BR Partners Holdco Participações S.A. (Holding).
---	---
(2)	Investment<br> funds in which the Group substantially assumes or retains risks and rewards were consolidated.
---	---
(3)	On<br> June 16, 2025, the name of BR Partners Assessoria em Reestruturação Ltda. was<br> changed to BR Partners Assessoria em Soluções de Capital Ltda.
---	---
(4)	Company<br> established in the third quarter of 2025, headquartered in Rio de Janeiro, whose business<br> purpose is providing consulting services in business management.
---	---

d.	Use of estimates and judgments

In the preparation of this condensed parent company and consolidated interim financial information, Management used judgments and estimates that affect the Group’s application of accounting policies and amounts reported of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on a continuous basis. Revisions to estimates are recognized prospectively and information on judgments is continuously reviewed by an annual basis by the Management areas.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

Fair value of financial instruments

Financial instruments recorded at fair value in our parent company and consolidated financial statements are mainly comprised by financial assets measured at fair value through profit or loss, including derivatives and financial assets measured at fair value through other comprehensive income. The fair value of a financial instrument corresponds to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date.

Financial instruments are categorized within a hierarchy based on the lowest level of information, which is significant for measuring fair value. For instruments classified as Level 3, we use our own judgment to arrive at the fair value measurement.

We base our judgment decisions on our knowledge and observations of the markets relevant to the individual assets and liabilities, and those judgments may vary based on market conditions. In applying our judgment, we look at a range of third-party prices and transaction volumes to understand and assess the extent of market benchmarks available and the judgments or modeling required in third-party processes.

Based on these factors, we determine whether the fair values are observable in active markets or whether the markets are inactive. Imprecision in estimating unobservable market inputs can impact the amount of revenue or loss recorded for a particular position. Furthermore, while we believe our valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value on the reporting date. For a detailed discussion of the determination of fair value of financial instruments please, see Note 20.

3.	Risk management

In the normal course of its operations, the Group is exposed to several financial risks, which are divided into: market, credit, liquidity and capital management. The Group’s risk management policies aim to define a set of principles, guidelines and responsibilities that guide activities relevant to risk management, in line with the business strategy of companies that are part of the BR Partners Group. These risks rely on a policy framework and the following committees: Risk and Compliance Committee, Credit Committee, Risk Committee and the Assets & Liabilities Committee (ALCO) and Underwriting Committee, observing their responsibilities and duties. For the effectiveness of risk management, the framework provides for the identification, assessment, monitoring, control, mitigation and correlation between risks. Limits are monitored by the Risk Management area. The Risk Management area reports directly to the Executive Board, therefore acting independently from the business areas.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

a.	Operating limits

Capital is managed by BR Partners Group Management and aims to ensure that the analysis of capital sufficiency (Basel ratio) is performed in an independent and technical manner, considering existing risks and those included in strategic planning.

Consolidated ^(1)^	09/30/2025
Reference Equity (PR) - (a)		1,335,765		1,077,498
Level I		1,067,665		833,550
Principal capital		698,535		613,508
Complementary capital		369,130		220,042
Level II		268,100		243,948
Subordinated Financial Bills Eligible for Capital		268,100		243,948
Total risk-weighted exposure - (b)		6,560,811		5,992,233
Credit risk		3,787,095		3,812,736
Market risk		2,213,444		1,750,868
Operating risk^(2)^		560,272		428,629
Basel Ratio ^(3)^ - (a/b)		20.4	%	17.9	%
Tier I Capital		16.3	%	13.9	%
Tier II Capital		4.1	%	4.0	%
(1)	The<br> information belongs to BR Partners Banco de Investimento S.A., which follows the regulations<br> of the Brazilian Central Bank for calculating the Basel Ratio.
---	---
(2)	BCB<br> Resolution 356 of November 28, 2023, together with BCB Normative Instruction 479 of June<br> 12, 2024, established a new methodology for calculating the portion of risk-weighted assets<br> (RWA) relating to the capital required for operational risk (RWA), using a standardized approach,<br> as of January 1, 2025. The calculation of this risk portion, which specifies the minimum<br> capital needed to cover the financial institution’s operational risk, considers elements<br> of revenues and expenses, turnover and the internal loss multiplier. The new approach resulted<br> in an increase of R$ 320,619 in operational risk compared to the amount calculated<br> according to the previous methodology – the effect of which will be phased in at a<br> rate of ¼ until December 31, 2027, in accordance with the option provided for in Art.<br> 19 of BCB Res. 356.
---	---
(3)	BR<br> Partners Banco de Investimento S.A. is subject to the new regulations introduced by CMN Resolution<br> 4966/21 of the National Monetary Council (CMN) and BCB Resolution 352/23 of the Brazilian<br> Central Bank. These resolutions introduce new concepts and criteria applicable to financial<br> instruments, which must be followed by financial institutions and other institutions authorized<br> to operate by the Brazilian Central Bank (BACEN). The new BACEN resolutions, effective since<br> January 1, 2025, resulted in an effective reduction of approximately R$ 4 million in<br> the Reference Equity.
---	---

In the period ended September 30, 2025 and year ended December 31, 2024, the limits are classified according to the minimum amount required by the Brazilian Central Bank (minimum required is 10.5%).

b.	Market Risk

Market risk is defined as the possibility of incurring losses due to adverse fluctuations in prices, market rates, shares and commodities in the Group’s portfolio positions. Market risk management is defined as the continuous process of identifying, measuring, evaluating, mitigating, monitoring and reporting exposures arising from positions held in foreign exchange, interest rates, shares and commodities, with the objective of keeping them within the regulatory and management limits that are established in the respective internal committees and reported to the Executive Board.

i.	Market risk management

The Group segregates its exposure to market risk between the Trading and Banking portfolios. The Trading portfolio includes proprietary positions, which are represented by financial instruments (assets and liabilities) managed based on fair value. The banking portfolio is predominantly characterized by banking business operations and related to the management of the Group’s active (securities) and passive (funding) financial instruments.

The Assets and Liabilities Committee (“ALCO”) is responsible for setting limits for each type of risk in aggregate and by type of portfolio, mitigating and preventing exposure to market risk. The market risk policy, reviewed annually, defines the market risk management framework.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

ii.	Market risk exposures – Trading portfolio

The main types of risk in this portfolio are exchange rates, interest rates, price indices and inflation rates. The tool used to measure and control exposure to market risk in the Group’s trading portfolio is Value-at-Risk (“VaR”). The VaR of a trading portfolio is the estimated maximum loss that can occur with a specified probability (confidence level) over a given period, considering adverse market changes. The VaR model used by the Group is parametric, based on a 99% confidence level for daily losses.

The VaR model used is based on a parametric approach, with daily volatilities calculated for each risk factor using the EWMA (“Exponentially Weighted Moving Average”) methodology, applying a Lambda factor of 0.96 (based on an effective period of 126 observations). Furthermore, the correlation between the daily returns of the risk factors is calculated, resulting in the creation of a correlation matrix that is applied to calculate the portfolio’s VaR.

Although VaR is an important tool for measuring market risk, the assumptions on which the model is based have some limitations, including:

-	The use of volatilities and correlations based on historical<br>data to predict the future behavior of risk factors may not provide accurate results, especially if there is insufficient data from periods<br>of intense volatility in the financial markets;
-	A 99% confidence level does not reflect losses that can occur<br>beyond this level. Even within the model used, there is a 1% probability that losses could exceed the calculated VaR;
---	---
-	VaR is calculated at the end of the day and does not reflect<br>exposures that may arise on positions during the trading day.
---	---

The general structure of VaR limits is subject to review and approval by ALCO and is measured daily to ensure proper monitoring of market risk. Monthly reports are submitted to ALCO for approval and backtesting is also carried out to validate the calculated models.

Presentation of Values at Risk (in the period/year) -Trading Portfolio

	Closing
(In thousands of reais)	09/30/2025		12/31/2024
- Interest rate		260		177
-Price Index / Inflation Rate		574		541
- Foreign currency		228		113
-Other		220		180
Total with no correlation		1,282		1,011
Total with correlation		584		696
iii.	Market risk exposures – Banking portfolio
---	---

The main risk to which the Banking portfolio is exposed is the risk of loss due to fluctuations in future cash flows or in the fair value of financial instruments due to a change in market interest rates, price indices and inflation rates. ALCO is the committee responsible for monitoring and complying with the daily limits for this portfolio.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

Banking portfolio risks are calculated based on the contractual cash flows of eligible financial instruments, using the Delta NII methodology, as established by the regulator. The sensitivity analysis for instruments in the Banking portfolio subject to market risk starts with the classification of exposures by risk factors. The Group applies parallel shocks to the respective yield curves as a sensitivity analysis methodology, monitoring the behavior of exposures and the gaps of each risk factor. The methodology used to define the reasonably possible changes in risk factors for a period of 1 year considers probability intervals of 95% and 99%, based on a historical period of 10 years for each risk factor. Aiming to analyze sensitivity, possible stress scenarios were defined, the shocks of which were applied to the operations contained in the Banking portfolio, considering the changes that would negatively affect the Group’s positions, based on market data on the respective dates.

The shocks used in each scenario are described below (Delta NII in thousands of reais):

Interest rate

The risk factors relate to financial instruments (assets and liabilities) that are sensitive to changes in interest rates. The shocks were calculated considering the cash flows of these financial instruments.

●	Scenario 1: +11 bp (0.1% p.a.) in the interest rate in reais.
●	Scenario 2: +54 bp (0.5% p.a.) in the interest rate in reais.
---	---
●	Scenario 3: +69 bp (0.7% p.a.) in the interest rate in reais.
---	---
	09/30/2025						12/31/2024
---	---	---	---	---	---	---	---	---	---	---	---	---
Portfolio	Scenario 1		Scenario 2		Scenario 3		Scenario 1		Scenario 2		Scenario 3
Banking		390		1,851		2,357		2,925		13,888		17,690
Total		390		1,851		2,357		2,925		13,888		17,690

Price Index/Inflation Rate

These are exposures sensitive to changes in coupon rates related to price indices and inflation rates. The shocks were calculated on the cash flows of the financial instruments (assets and liabilities).

●	Scenario 1: +20 bp (0.2% p.a.) in the price index/inflation<br>rate in Reais.
●	Scenario 2: +57 bp (0.6% p.a.) in the price index/inflation<br>rate in Reais.
---	---
●	Scenario 3: +83 bp (0.8% p.a.) in the price index/inflation<br>rate in Reais.
---	---
	09/30/2025						12/31/2024
---	---	---	---	---	---	---	---	---	---	---	---	---
Portfolio	Scenario 1		Scenario 2		Scenario 3		Scenario 1		Scenario 2		Scenario 3
Banking		5,007		14,112		20,621		4,444		12,527		18,304
Total		5,007		14,112		20,621		4,444		12,527		18,304
c.	Credit risk
---	---

Credit risk is defined as the possibility of losses associated with the failure, on the part of the borrower or counterparty, to meet their respective financial obligations under the agreed-upon terms, devaluation of the credit agreement resulting from the deterioration in the classification of the borrower’s risk, reduction of gains or remuneration, advantages granted in the renegotiation, and costs of recovery. Measurement and follow-up of exposure to credit risk includes all financial instruments capable of generating counterparty risk, such as private securities, derivatives, guarantees granted, and eventual risks of settlement of operations, among others.

The Group has an internal model to assign credit risk ratings to its clients, which considers their size, the nature and complexity of their operations and their risk profile. Accordingly, the main factors considered when constructing the internal rating include the business risk profile, financial risk profile and adjustment factors (financial policy, liquidity, influence of the economic group, etc.).

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

The criteria adopted to characterize default include delays in the payment of principal or charges, deterioration in the credit rating of the counterparty according to internal criteria, based on the initial credit analysis of the counterparty, and other factors that may indicate a reduction in financial capacity to meet obligations under the agreed conditions, without the need to resort to guarantees. The estimates of losses due to default are based on the value at risk, the probability of default, and the expected losses from default, taking into account all recovery efforts.

d.	Liquidity risk

Liquidity risk is the possibility that the Group may not be able to efficiently meet its expected and unexpected (current and future) obligations, including those arising from binding guarantees, without affecting its daily operations and incurring material losses. Additionally, liquidity risk is the possibility that the Group may not be able to trade a position at market price due to its large size in relation to the usually traded volume, or due to market discontinuity. The liquidity risk controls aim to identify what the impacts on the Group’s cash would be given the application of adverse scenarios under liquidity condition. These impacts consider both internal and external factors of the Group. The Group’s cash is centrally managed by the Treasury area. The control of liquidity risk at BR Partners Group is carried out by the Risk area and the ALCO through tools such as the Liquidity Risk Contingency Plan, the Minimum Liquidity Reserve, control of cash depletion, daily assessment of operations with a term of less than 90 days, and the application of stress scenarios in the Group’s liquidity conditions.

Exposure to liquidity risk

We present below the contractual maturities of financial assets and liabilities. These amounts are gross and include accrual of contractual interest.

			Consolidated - Contractual cash flows
	Book value		≤03		03-12		01-03		>03		Projected
	09/30/2025		months		months		years		years		balance
Financial assets
- Cash and cash equivalents		516,143		516,143		-		-		-		516,143
- Financial assets at fair value through profit or loss		10,849,875		9,337,009		177,665		715,697		1,153,975		11,384,346
- Financial assets at fair value through other comprehensive income		3,086,942		151,811		47,634		675,461		6,003,404		6,878,310
- Financial asset at amortized cost		1,280,989		924,022		-		232,454		467,972		1,624,448
Derivative financial instruments
- Swap		881,913		8,819		132,287		185,202		1,728,551		2,054,859
- NDF		97,304		86,601		4,865		4,865		-		96,331
- Options		67,107		3,355		-		89,923		-		93,278
- Futures		6,297		1,322		1,259		1,574		4,722		8,877
Total		16,786,570		11,029,082		363,710		1,905,176		9,358,624		22,656,592
Financial liabilities
- Suppliers		2,689		2,688		-		-		-		2,688
- Client deposits		1,941,813		582,544		582,544		990,325		19,418		2,174,831
- Debt issued and others		3,227,221		60,062		839,762		1,763,500		3,371,253		6,034,577
- Repurchase agreements		9,630,683		9,630,683		-		-		-		9,630,683
- Other financial liabilities		797,700		797,700		-		-		-		797,700
- Lease liabilities		33,607		2,041		3,699		20,346		22,812		48,898
Derivatives
- Swap		184,567		1,846		27,686		38,760		361,757		430,049
- NDF		60,540		53,881		3,027		3,632		-		60,540
- Options		6,393		320		-		8,568		-		8,888
- Futures		12,675		2,662		2,535		3,169		9,506		17,872
Total		15,897,888		11,134,427		1,459,253		2.828.300		3,784,746		19,206,726

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

			Consolidated - Contractual cash flows
	Book value		≤03		03-12		01-03		>03		Projected
	12/31/2024		months		months		years		years		balance
Financial assets
- Cash and cash equivalents		575,235		575,235		-		-		-		575,235
- Financial assets at fair value through profit or loss		9,273,217		8,068,272		275,465		235,103		1,635,851		10,214,691
- Financial assets at fair value through other comprehensive income		2,379,657		-		36,286		238,954		6,382,881		6,658,121
- Financial asset at amortized cost		1,576,438		1,229,914		-		-		784,705		2,014,619
Derivative financial instruments
- Swap		834,743		8,347		16,695		258,770		2,120,248		2,404,060
- NDF		196,358		159,050		31,417		9,818		-		200,285
- Options		18,817		10,726		8,844		-		-		19,570
- Futures		21,272		18,719		2,553		638		-		21,910
Total		14,875,737		10,070,263		371,260		743,283		10,923,685		22,108,491
Financial liabilities
- Suppliers		16,022		16,022		-		-		-		16,022
- Client deposits		2,627,471		630,593		1,261,186		1,103,538		26,275		3,021,592
- Debt issued and others		1,841,558		9,435		19,689		1,703,098		3,734,238		5,466,460
- Repurchase agreements		8,056,208		8,056,208		-		-		-		8,056,208
- Other financial liabilities		1,139,273		1,139,273		-		-		-		1,139,273
- Lease liabilities		29,441		1,662		6,466		17,758		19,732		45,618
Derivatives
- Swap		170,417		1,704		3,408		52,829		432,860		490,801
- NDF		107,118		86,766		17,139		5,355		-		109,260
- Options		17,837		10,167		8,383		-		-		18,550
- Futures		21,943		19,310		2,633		658		-		22,601
Total		14,027,288		9,971,140		1,318,904		2,883,236		4,213,105		18,386,385
e.	Foreign exchange risk
---	---

A summary of the Group’s exposure to foreign exchange risk is presented below, highlighting that the amounts in reais may differ from the figures presented in the condensed consolidated interim financial information.

	09/30/2025
	R$ (Real)			US (Dollar)		(Euro)	(Yen)
Foreign exchange exposure		(72,710	)		68,116		4,594		-
Derivatives
Swap		3,530			(3,530	)	-		-
NDF		(39,269	)		332,181		1,029		(293,941	)
Options		12,363			(12,363	)	-		-
Futures		92,207			(381,241	)	(2,353	)	291,387
Total		(3,879	)		3,163		3,270		(2,554	)

All values are in US Dollars.

	12/31/2024
	R$ (Real)			US (Dollar)		(Euro)	(Yen)
Foreign exchange exposure		(70,271	)		62,629		7,642		-
Derivatives
Swap		50,905			(50,905	)	-		-
NDF		(130,264	)		144,805		-		(14,541	)
Options		(19,671	)		19,671		-		-
Futures		168,154			(178,357	)	(4,017	)	14,220
Total		(1,147	)		(2,157	)	3,625		(321	)

All values are in US Dollars.

BRBI BR PartnersS.A. (formerly “BR Advisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

4.	Cash and cash equivalents
Parent Company	09/30/2025		12/31/2024
---	---	---	---	---
Banks - Checking account and cash		2		2
Total		2		2
Consolidated	09/30/2025		12/31/2024
---	---	---	---	---
Banks - Checking account and cash		71		62
Balances with Brazilian Central Bank		33		380
Cash and cash equivalents in foreign currencies		47,044		27,936
Money market repurchase agreements^(1)^		468,995		546,857
Total		516,143		575,235
(1)	On<br> September 30, 2025, and December 31, 2024, the repurchase agreements substantially had a<br> resale date for October 1, 2025 and January 2, 2025, respectively.
---	---

5.	Financial instruments
a.	Financial assets at fair value through profit or loss
---	---
	Fair / book value
---	---	---	---	---
Parent Company	09/30/2025		12/31/2024
Investment fund quotas
- Investment fund quotas		123,221		117,895
Total		123,221		117,895
	Fair / book value
---	---	---	---	---
Consolidated	09/30/2025		12/31/2024
Government bonds^(1)^		10,404,623		8,684,734
- Financial Treasury Bills (LFTs)		364,165		354,910
- National Treasury Bills (LTN)		719,711		425,016
- National Treasury Notes (NTN-B)		8,154,620		7,843,046
- National Treasury Notes (NTN-F)		1,157,656		41,454
- Government bonds of foreign governments		8,471		20,308
Private securities^(2)^		313,052		405,612
- Certificates of Real Estate Receivables		66,623		152,762
- Certificates of Agribusiness Receivables		59,694		64,427
- Debentures		96,683		97,906
- Real Estate Credit Bill		90,052		90,517
Investment fund quotas		132,200		182,871
- Investment fund quotas		132,200		182,871
Total		10,849,875		9,273,217

b.	Financial assets at fair value through other comprehensive income
	Fair value/Book value
---	---	---	---	---
Consolidated	09/30/2025		12/31/2024
Private securities^(2)^		1,324,110		1,063,568
- Certificates of Real Estate Receivables		831,446		857,201
- Certificates of Agribusiness Receivables		40,496		30,012
- Rural Product Note		-		74,766
- Debentures		337,071		75,688
- Commercial Notes		115,097		25,901
Investment fund quotas		1,762,832		1,316,089
- Investment fund quotas		1,762,832		1,316,089
Total		3,086,942		2,379,657
(1)	Government<br> bonds are under the custody of the Special Settlement and Custody System (SELIC) of the Brazilian<br> Central Bank whose fair value was calculated by means of prices disclosed by ANBIMA –<br> Brazilian Association of Financial Market and Capital Entities.
---	---
(2)	The<br> Certificates of Real Estate Receivables, Certificates of Agribusiness Receivables, Rural<br> Product Notes, Debentures, Real Estate Credit Certificates and Commercial notes are classified<br> at Fair Value through Profit or Loss (“FVTPL”) or Fair Value through Other Comprehensive<br> Income (“FVTOCI”) and they are registered with the Clearing House of Custody<br> and Financial Settlement of Securities (“B3 S.A.”), the valuation of which is<br> carried out by IPCA or CDI rate + fixed interest rate.
---	---

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

6.	Derivative financial instruments
a.	Breakdown per index
---	---

	09/30/2025
Parent Company	Assets				Liabilities
	Amounts <br><br>receivable		Nominal <br><br>value		Amounts payable		Nominal <br><br>value
Swap
IPCA / Fixed rate x CDI		1,744		167,731		-		-
Total		1,744		167,731		-		-

There were no derivative financial instruments contracted by the Parent Company as of December 31, 2024.

	09/30/2025
Consolidated	Assets				Liabilities
	Amounts<br><br> receivable		Nominal<br><br> value		Amounts<br><br> payable			Nominal<br><br> value
Swap		881,913		11,331,540		(184,567	)		5,196,641
IPCA x CDI		49,065		179,206		(7,804	)		50,930
IPCA x Fixed rate		-		-		(268	)		32,949
CDI X Dollar		6,935		201,600		-			-
CDI x IPCA		746,935		7,448,805		(134,451	)		2,765,692
CDI x Fixed rate		68,404		1,515,265		(20,149	)		1,393,475
CDI X CDI		995		1,042,965		-			-
Fixed rate x CDI		9,579		943,699		(21,895	)		953,595
NDF (Non-deliverable Forwards)		97,304		1,746,070		(60,540	)		1,483,813
Currency term		78,573		973,437		(52,982	)		1,077,010
Dollar x Fixed rate		391		51,089		(52,818	)		999,295
Fixed rate x Dollar		29,639		594,582		(138	)		76,660
Fixed rate x Yen		48,543		327,766		-			-
Yen x Fixed rate		-		-		(26	)		1,055
Forward commodities		18,731		772,633		(7,558	)		406,803
Commodities		18,731		772,633		(7,558	)		406,803
Options		67,107		226,658		(6,393	)		241,192
Purchase of call option		64,770		62,583		-			-
Purchase of put option		2,337		164,075		-			-
Sale of call option		-		-		(104	)		144,660
Sale of put option		-		-		(6,289	)		96,532
Futures		6,297		2,126,771		(12,675	)		5,386,983
Long position		1,746		1,923,996		(11,202	)		3,164,677
DAP		177		282,356		(3,576	)		2,340,362
DDI		275		214,195		-			-
DI1		771		788,170		(1	)		86,217
DOL		519		638,232		-			-
Currencies - FX		-		-		(1,796	)		343,479
Commodities – Domestic		-		-		(204	)		66,324
Commodities - Abroad		4		1,043		(5,625	)		328,295
Short position		4,551		202,775		(1,473	)		2,222,306
DAP		7		12,694		-			-
DDI		-		-		(107	)		91,516
DI1		1		134,072		(517	)		1,183,283
DOL		-		-		(257	)		221,186
IND		10		10,300		-			-
WDO		-		2,627		(588	)		723,968
Currencies - FX		-		-		(4	)		2,353
Commodities - Abroad		4,533		43,082		-			-
Total		1,052,621		15,431,039		(264,175	)		12,308,629

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

	12/31/2024
Consolidated	Assets				Liabilities
	Amounts <br><br>receivable		Nominal <br><br>value		Amounts <br><br>payable			Nominal <br><br>value
Swap		834,744		9,132,760		(170,417	)		3,770,579
IPCA x CDI		41,009		357,838		(5,569	)		44,280
CDI X Dollar		19,888		410,087		(7,318	)		24,673
IPCA x Fixed rate		2,776		32,950		-			-
CDI x IPCA		638,920		6,608,426		(77,126	)		2,455,378
CDI x Fixed rate		129,684		1,581,558		-			-
CDI x CDI		2,328		111,465		-			-
Fixed rate x CDI		139		30,436		(80,404	)		1,246,248
NDF		196,357		5,048,660		(107,118	)		2,411,536
Currency term		152,775		4,259,104		(70,332	)		1,805,233
Dollar x Fixed rate		151,034		3,078,120		(560	)		33,713
Fixed rate x Dollar		170		1,143,146		(68,657	)		1,748,315
Euro x Fixed rate		-		-		-			177
Fixed rate x Yen		443		14,810		(1,115	)		23,028
Yen x Fixed rate		1,128		23,028		-			-
Forward commodities		43,582		789,556		(36,786	)		606,303
Commodities		43,582		789,556		(36,786	)		606,303
Options		18,817		666,593		(17,837	)		580,038
Purchase of call option		18,215		488,637		-			-
Purchase of put option		602		177,956		-			-
Sale of call option		-		-		(17,233	)		293,696
Sale of put option		-		-		(604	)		286,342
Futures		21,272		5,260,984		(21,943	)		4,918,192
Long position		859		1,867,692		(19,530	)		4,626,465
DAP		-		-		(11,655	)		1,457,382
DDI		-		-		(151	)		52,682
DI1		32		1,650,880		(2,526	)		982,772
DOL		-		-		(4,940	)		2,119,259
WDO		-		-		-			-
CCM		545		126,561		-			-
Commodities – Domestic		282		90,251		-			-
Commodities – Abroad		-		-		(258	)		14,370
Short position		20,413		3,393,292		(2,413	)		291,727
DAP		155		259,142		-			-
DDI		3,670		1,307,850		-			-
DI1		1,683		449,622		(10	)		91,499
DOL		-		-		-			-
WDO		2,252		1,192,993		(583	)		125,623
Currencies - FX		12,589		181,956		(1,025	)		32,855
Commodities – Domestic		64		1,729		-			-
Commodities – Abroad		-		-		(795	)		41,750
Total		1,071,190		20,108,997		(317,315	)		11,680,345

Financial collateral given for derivative financial instrument transactions with B3 S.A. are represented by government bonds and totaled R$ 285,592 on September 30, 2025 (R$ 380,628 on December 31, 2024).

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

b.	Comparison between the cost and fair value
	09/30/2025
---	---	---	---	---	---	---	---	---	---
Parent Company	Cost			Unrealized gains/(losses)		Credit risk adjustment		Fair value
Assets
Swap		(916	)		2,660		-		1,744
Total		(916	)		2,660		-		1,744
	09/30/2025
---	---	---	---	---	---	---	---	---	---	---	---	---
Consolidated	Cost			Unrealized <br>gains/(losses)			Credit risk <br>adjustment			Fair value
Assets
Swap		226,886			658,734			(3,707	)		881,913
NDF		101,365			(3,643	)		(418	)		97,304
Options		61,468			5,944			(305	)		67,107
Futures		6,297			-			-			6,297
Total		396,016			661,035			(4,430	)		1,052,621
Liabilities
Swap		(361,879	)		177,323			(11	)		(184,567	)
NDF		(60,700	)		160			-			(60,540	)
Options		(5,762	)		(631	)		-			(6,393	)
Futures		(12,675	)		-			-			(12,675	)
Total		(441,016	)		176,852			(11	)		(264,175	)
	12/31/2024
---	---	---	---	---	---	---	---	---	---	---	---	---
Consolidated	Cost			Unrealized<br><br> gains/(losses)			Credit risk<br><br> adjustment			Fair value
Assets
Swap		92,355			747,151			(4,762	)		834,744
NDF		197,560			(44	)		(1,159	)		196,357
Options		10,771			8,213			(167	)		18,817
Futures		21,272			-			-			21,272
Total		321,958			755,320			(6,088	)		1,071,190
Liabilities
Swap		(311,850	)		141,107			326			(170,417	)
NDF		(107,034	)		(181	)		97			(107,118	)
Options		(14,343	)		(3,496	)		2			(17,837	)
Futures		(21,943	)		-			-			(21,943	)
Total		(455,170	)		137,430			425			(317,315	)
c.	Breakdown per maturity
---	---
	09/30/2025
---	---	---	---	---	---	---	---	---	---	---
Parent Company	≤03 months		03–12 months		01–03 years		>3 years		Fair value
Assets
Swap		-		-		-		1,744		1,744
Total		-		-		-		1,744		1,744

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

	09/30/2025
Consolidated	≤03 months			03–12 months			01–03 years			>3 years			Fair value
Assets
Swap		6,610			97,702			142,346			635,255			881,913
NDF		77,786			14,173			5,345			-			97,304
Options		2,320			17			64,770			-			67,107
Futures		1,071			3,796			490			940			6,297
Total		87,787			115,688			212,951			636,195			1,052,621
Liabilities
Swap		(414	)		(2,433	)		(40,393	)		(141,327	)		(184,567	)
NDF		(40,935	)		(16,606	)		(2,999	)		-			(60,540	)
Options		(6,092	)		(301	)		-			-			(6,393	)
Futures		(3,747	)		(4,887	)		(1,104	)		(2,937	)		(12,675	)
Total		(51,188	)		(24,227	)		(44,496	)		(144,264	)		(264,175	)
	12/31/2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
Consolidated	≤03 months			03–12 months			01–03 years			>3 years			Fair value
Assets
Swap		4,961			7,019			167,954			654,810			834,744
NDF		126,182			55,160			4,224			10,791			196,357
Options		10,349			8,468			-			-			18,817
Futures		9,725			6,917			3,307			1,323			21,272
Total		151,217			77,564			175,485			666,924			1,071,190
Liabilities
Swap		(130	)		(17,623	)		(14,234	)		(138,430	)		(170,417	)
NDF		(53,306	)		(42,696	)		(2,744	)		(8,372	)		(107,118	)
Options		(3,370	)		(14,467	)		-			-			(17,837	)
Futures		(9,153	)		(529	)		(1,042	)		(11,219	)		(21,943	)
Total		(65,959	)		(75,315	)		(18,020	)		(158,021	)		(317,315	)
d.	Derivatives offset amount
---	---

The BR Partners Group does not have contracts in which the Company or its counterparty has the right to offset the amounts receivable and payable from the separate contracts in the event of default.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

e.	Derivatives designated as hedge accounting.

	09/30/2025
Strategy	Hedging <br><br>instrument<br> fair value^(1)^			Hedged item<br> fair value		Fair<br>value <br><br>adjustment<br><br>on hedged <br><br>item recorded<br><br>in profit or <br><br>loss ^(2)^
Interest rate risk
Floating rate funding		(187,880	)		208,721		3,152
Total		(187,880	)		208,721		3,152

	12/31/2024
Strategy	Hedging instrument<br> fair value^(1)^			Hedged item<br> fair value		Fair<br>value <br><br>adjustment<br><br>on hedged <br><br>item recorded<br><br>in profit or <br><br>loss ^(2)^
Interest rate risk
Funding Hedge ^(3)^
Fixed rate funding		(134,088	)		163,812		-
Floating rate funding		(378,686	)		396,116		2,158
Total		(512,774	)		559,928		2,158
(1)	The<br> Group uses DI and DAP futures contracts, traded on B3 S.A., as a hedging instrument related<br> to the interest rate risk of fixed and floating-rate funding selected for hedging. Daily<br> adjustments related to futures contracts are recorded under “Interest revenues and<br> gains on financial instruments” or “Interest expenses and losses on financial<br> instruments”.
---	---
(2)	Balances<br> presented on an accumulated basis for purposes of comparing the changes in the fair value<br> of the instruments versus the hedged item.
---	---
(3)	Fixed-rate<br> and floating-rate funding recorded under “Client deposits”, related to the Bank<br> Deposit Certificate (“CDB”) product.
---	---

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

7.	Financial assets at amortized cost and other assets

a.	Valued at amortized cost

There was no balance in the parent company for the period ended September 30, 2025 and year ended December 31, 2024, respectively.

Consolidated
Loans ^(1)^	306,956	346,523
Other financial assets at amortized cost	974,033	1,229,915
- Foreign exchange ^(2)^	798,015	1,139,273
- Financial instruments ^(3)^	50,010	-
- Services receivable ^(4)^	115,478	83,821
- Other amounts ^(5)^	5,235	5,785
- Deposits ^(6)^	5,295	1,036
Total	1,280,989	1,576,438

(1)	Refers<br> to operations with clients of BR Partners Banco de Investimento S.A., represented by Bank<br> Credit Notes and Real Estate Credit Notes.
(2)	It<br> refers to a purchased foreign exchange contract whose settlement was carried out on October 01,<br> 2025 and January 2, 2025, respectively.
---	---
(3)	Represented<br> by Rural Product Notes (“CPR”) and Commercial Notes (“NC”).
---	---
(4)	Refer<br> to services provided to clients and reimbursements receivable on expenditures defined in<br> the service agreement.
---	---
(5)	Mainly<br> refers to the final sale of financial instruments, which were settled on October 1, 2025.
---	---
(6)	Refers<br> to a security deposit in the amount of R$ 5,156 (R$ 592 as of December 31, 2024)<br> and a labor court deposit in the amount of R$ 139 (R$ 166 as of December 31,<br> 2024).
---	---
8.	Related party transactions
---	---

The transactions between related parties were carried out in terms equivalent to those prevailing in transactions between independent parties.

	Direct controlling shareholder ^(1)^						Associated companies/subsidiaries ^(2)^					Total
Parent Company	09/30/2025			12/31/2024			09/30/2025			12/31/2024		09/30/2025			12/31/2024
Assets/(Liabilities)
Amounts receivable		-			-			-			11,105		-			11,105
Derivative financial instruments		-			-			1,744			-		1,744			-
Investment fund quotas		-			-			123,221			117,895		123,221			117,895
Dividends payable		(10,962	)		(735	)		(9,831	)		-		(20,793	)		(735	)
Result/(Expenses)
Result from derivatives		-			-			1,744			-		1,744			-
Income (loss) from investment in investment fund quotas		-			-			5,326			9,966		5,326			9,966

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

	Direct controlling shareholder ^(1)^						Associated companies ^(2)^						Key management personnel ^(3)^						Total
Consolidated	09/30/2025			12/31/2024			09/30/2025			12/31/2024			09/30/2025			12/31/2024			09/30/2025			12/31/2024
Assets/(Liabilities)
Investment fund quotas		-			-			123,221			117,895			-			-			123,221			117,895
Client deposits ^(4)^		(443	)		(1,250	)		(13,141	)		(13,788	)		(1,825	)		(2,553	)		(15,409	)		(17,591	)
Letters of credit for real estate ^(5)^		-			-			-			-			(1,799	)		(2,709	)		(1,799	)		(2,709	)
Agribusiness credit bills		-			-			-			-			-			(91	)		-			(91	)
Dividends payable		(10,962	)		(735	)		(9,831	)		-			-			-			(20,793	)		(735	)
Result/(Expenses)
Interest revenue from financial assets at fair value through profit or loss – Investment fund quotas		-			-			5,326			9,966			-			-			5,326			9,966
Interest expenses and (losses) on financial instruments		(9	)		(41	)		(1,247	)		(1,338	)		(132	)		(653	)		(1,388	)		(2,032	)

(1)	BR<br> Partners Holdco Participações S.A.
(2)	Other<br> companies of BR Partners Group, BR Partners Outlet Premium Fundo de Investimento em Participações<br> and BR Partners Fundo de Investimento Multimercado Crédito Privado.
---	---
(3)	Members<br> of Board of Directors and Executive Board.
---	---
(4)	Represented<br> by fundraising by BR Partners Banco de Investimento S.A., maturing up to November 16, 2026<br> at an average rate of 108% of CDI.
---	---
(5)	Represented<br> by fundraising by BR Partners Banco de Investimento S.A., maturing up to December 11, 2025<br> at a variable rate of 96% of CDI.
---	---
a.	Remuneration of key personnel
---	---
	Three-month period ended				Nine-month period ended
---	---	---	---	---	---	---	---	---
Parent Company	09/30/2025		09/30/2024		09/30/2025		09/30/2024
Directors’ fee		909		704		2,591		1,906
Social charges		182		141		518		381
Total		1,091		845		3,109		2,287
	Three-month period ended				Nine-month period ended
---	---	---	---	---	---	---	---	---
Consolidated	09/30/2025		09/30/2024		09/30/2025		09/30/2024
Directors’ fee		14,941		9,715		41,792		28,082
Social charges		2,988		3,175		8,358		5,616
Total		17,929		12,890		50,150		33,698

Key management personnel is represented by the Company’s statutory executive board and Board of Directors who, in addition to dividends arising from their interests in BR Partners Holdco Participações S.A., receive remuneration for services rendered at the Company which is recorded under “Personnel expenses”.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

b.	Other information

Related parties are considered, as:

●	Company’s<br>Directors and administrative Board members, as well as their respective spouses and relatives up to the 2nd degree; and
●	Individuals or legal entities that hold more than 10% of<br>the Company’s share capital.
---	---
9.	Investments in subsidiaries
---	---
Parent Company	12/31/2024		Equity in <br> net income <br> of subsidiaries			Payment of <br> capital		Other<br> comprehensive <br> income ^(1)^		09/30/2025
---	---	---	---	---	---	---	---	---	---	---	---
BR Partners Assessoria Financeira Ltda.		1,326		33,444			-		297		35,067
BR Partners Assessoria Financeira Rio de Janeiro Ltda.		-		(17	)		1,000		-		983
BR Partners Mercados de Capitais Ltda.		1,000		20,749			-		-		21,749
BR Partners Participações Financeiras Ltda.		691,344		37,420			-		173		728,937
BR Partners Gestão de Recursos Ltda.		2,000		30,025			-		-		32,025
BR Partners Assessoria em Soluções de Capital Ltda.		500		12,982			-		-		13,482
Total		696,170		134,603			1,000		470		832,243
			Equity in <br>net income		Other <br>comprehensive
---	---	---	---	---	---	---	---	---	---
Parent Company	12/31/2023		of subsidiaries		income ^(1)^			09/30/2024
BR Partners Assessoria Financeira Ltda.		979		33,877		424			35,280
BR Partners Mercados de Capitais Ltda.		1,000		23,145		-			24,145
BR Partners Participações Financeiras Ltda.		723,063		20,040		(3,370	)		739,733
BR Partners Gestão de Recursos Ltda.		2,000		15,066		-			17,066
BR Partners Assessoria em Soluções de Capital Ltda.		500		58,982		-			59,482
Total		727,542		151,110		(2,946	)		875,706
(1)	Represented<br> by reflective equity valuation adjustments recorded at BR Partners Banco de Investimento<br> S.A. and BR Partners Assessoria Financeira Ltda.
---	---

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

10.	Other amounts payable
	Parent Company				Consolidated
---	---	---	---	---	---	---	---	---
	09/30/2025		12/31/2024		09/30/2025		12/31/2024
Dividends payable		38,183		735		38,183		735
Amounts payable to related companies		92,023		-		-		-
Lease liabilities ^(1)^		-		-		33,607		29,441
Provision payable for expenses on personnel		49		1,767		7,925		42,998
Provision for contingency (Note 19.b)		-		-		1,076		1,368
Provision for surety bonds provided^(2)^		-		-		147		532
Future year earnings		-		-		2,541		1,772
Other		-		-		586		385
Total		130,255		2,502		84,065		77,231
(1)	The<br> Group leases floors of a commercial building for a period of 10 years. As of September 30,<br> 2025, the non-cancelable minimum lease amounts are presented between 1 and 10 years.
---	---
(2)	Refers<br> to commissions on endorsements and sureties currently found in the credit portfolio of BR<br> Partners Banco de Investimentos S.A. Note 19.a.
---	---
11.	Financial liabilities
---	---

Deposits, fundraising and obligations for loans

	≤03		04-12		01-03		>03
Consolidated	months		months		years		years		09/30/2025		12/31/2024
Client deposits		-		865,610		1,041,684		34,519		1,941,813		2,627,471
- Time deposit ^(1)^		-		865,610		1,041,684		34,519		1,941,813		2,170,262
- Interbank deposits		-		-		-		-		-		457,209
Repurchase agreements		9,630,683		-		-		-		9,630,683		8,056,208
- Government bonds ^(2)^		8,550,000		-		-		-		8,550,000		7,113,234
- Private securities ^(2)^		1,080,683		-		-		-		1,080,683		942,974
Debt issued and others		-		560,274		2,029,717		637,230		3,227,221		1,841,558
- Real Estate Credit Bills ^(3)^		-		58,885		-		-		58,885		2,709
- Agribusiness Credit Bills		-		-		-		-		-		8,785
- Financial bills^(4)^		-		501,389		2,029,717		-		2,531,106		1,366,074
- Subordinated Financial Bills <br> Eligible for Capital– Tier II ^(5)^		-		-		-		268,100		268,100		243,948
- Subordinated Financial Bills <br> Eligible for Complementary Capital ^(6)^		-		-		-		369,130		369,130		220,042
Other financial liabilities		797,700		-		-		-		797,700		1,139,273
- Obligations with foreign exchange purchase ^(7)^		797,700		-		-		-		797,700		1,139,273
Total		10,428,383		1,425,884		3,071,401		671,749		15,597,417		13,664,510

(1)	For<br>fixed-rate Bank Deposit Certificates (“CDB”), the remuneration rate is between 9.82% and 16.49% p.a. and for floating-rate<br>CDBs, the remuneration rate is between 95% and 113.8% of the DI, 100% of DI + 0.10% to 2.50% p.a. and IPCA + 4.87% and 9.18% p.a.
(2)	For<br> repurchase agreements linked to government bonds (“NTN-B”, “NTN-F”<br> and “LTN”), the yield rate is 14.89% p.a. and, for private securities (Debentures,<br> CRI and CRA), the average yield rate is 94.2% of DI.
---	---
(3)	For<br> floating-rate Real Estate Credit Bills (“LCI”), the remuneration rate is between<br> 89% and 96% of the DI.
---	---
(4)	Fixed-rate<br> Financial Bills (“LF”), with remuneration rate between 11.38% and 13.30% p.a.,<br> and for floating-rate LF the remuneration rate is between 100% and 113% of the DI + 0.49%<br> to 2.94% and 100% of the IPCA +6.58% p.a.
---	---
(5)	For<br> fixed Subordinated Financial Bills Eligible to Capital (“LFSN”), the remuneration<br> rate is 11.38%, and for floating-rate LFSN the remuneration rate is between 100% and 109.6%<br> of the DI, 100% of DI + 1% to 2.94% and 100% of the IPCA + 6.58%.
---	---
(6)	The<br> Perpetual Subordinated Financial Bills, eligible for the composition of the complementary<br> capital, are remunerated at floating rates of 100% of the DI + 1.80 to 2.50% p.a.
---	---
(7)	Refers<br> to the obligation linked to a purchased foreign exchange contract, whose settlement occurred<br> on October 1, 2025.
---	---

Remuneration rates presented above refer to the operations existing on September 30, 2025.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

12.	Shareholders’ equity

a.	Share capital

The Company’s share capital, fully subscribed and paid in totaling R$ 674,940 at September 30, 2025 (R$ 674,940 at December 31, 2024), is represented by 314,987 shares: 200,546 registered, book-entry common shares with no par value and 114,441 registered, book-entry preferred shares with no par value (314,987 total shares: 200,546 registered, book-entry common shares with no par value and 114,441 registered preferred shares with no par value at December 31, 2024).

b.	Profit reserve

The legal reserve is increased annually by an allocation of 5% of net income for the year, and may not exceed 20% of the Company’s share capital. The purpose of the legal reserve is to guarantee that the share capital is paid up and it is used solely to offset losses and increase capital. Other profit reserves refer to the retention of the remaining balance of retained earnings, pursuant to article 196 of Brazil’s Corporation Act.

c.	Net earnings per share

Basic earnings per share are calculated by dividing profit attributable to the Company’s shareholders by the weighted average number of common shares for the year.

For the periods ended September 30, 2025 and 2024, there are no potential common and preferred shares in the Group for dilution purposes. Therefore, the basic and diluted earnings per share are the same.

	09/30/2025
Profit attributable to the Company’s shareholders		130,539	151,546
Weighted average of shares issued		314,987	314,987
Basic earnings and diluted per share (in Reais)		0.41	0.48
d.	Dividends
---	---

Shareholders will be entitled to a non-cumulative mandatory minimum dividend, corresponding to 25% of the adjusted net income, as set forth in the Article 191 of Brazil’s Corporation Act, reduced or increased by the amounts provided for in item I of Article 202 of the Brazil’s Corporation Act and subject to the provisions of item II and III of the same article, as applicable.

The distribution of minimum dividend will not be mandatory in the fiscal year in which the Board of Directors informs shareholders, with justified and unanimously approved exposure, that it is incompatible with the Company’s financial situation, in which case a portion of the net income may be distributed. Adjusted net income or approved its retention as a reserve, as the case may be. Profits that are no longer distributed pursuant to this paragraph will be paid as soon as the Company’s financial situation permits, applying the provisions of article 202, §5 of the Brazil’s Corporation Act.

On November 6, 2025, the Company’s Board of Directors approved the distribution of interim dividends in the amount of R$ 37,798 thousand (R$ 0.36 per unit) and extraordinary dividends in the amount of R$ 69,297 thousand (R$ 0.66 per unit).

13.	Result by line of business

The following summary discloses the service revenues (revenue from contracts with customers) and the other accounting items that composes the consolidated total revenue disaggregated by line of business:

	Three-month period ended 09/30/2025
Business line	Revenues <br><br>from <br><br>rendering of <br><br>services		Net interest <br><br>revenue <br><br>(expense) <br><br>and gains <br><br>(losses) on <br><br>financial <br><br>instruments		Total
Investment Banking and Capital Market		67,184		-		67,184
Treasury Sales & Structuring		-		28,739		28,739
Investments and Wealth Management		4,048		-		4,048
Capital Remuneration		-		33,316		33,316
Total		71,232		62,055		133,287

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

	Three-month period ended 09/30/2024
Business line	Revenues <br><br>from <br><br>rendering of <br><br>services		Net interest <br><br>revenue <br><br>(expense) <br><br>and gains <br><br>(losses) on <br><br>financial <br><br>instruments		Total
Investment Banking and Capital Market		101,386		-		101,386
Treasury Sales & Structuring		1		21,299		21,300
Investments and Wealth Management		3,116		-		3,116
Capital Remuneration		-		31,927		31,927
Total		104,503		53,226		157,729

	Nine-month period ended 09/30/2025
Business line	Revenues <br><br>from <br><br>rendering of <br><br>services		Net interest <br><br>revenue <br><br>(expense) <br><br>and gains <br><br>(losses) on <br><br>financial <br><br>instruments		Total
Investment Banking and Capital Market		219,558		-		219,558
Treasury Sales & Structuring		-		69,834		69,834
Investments and Wealth Management		11,272		-		11,272
Capital Remuneration		-		99,398		99,398
Total		230,830		169,232		400,062

	Nine-month period ended 09/30/2024
Business line	Revenues <br><br>from <br><br>rendering of <br><br>services		Net interest <br><br>revenue <br><br>(expense) <br><br>and gains <br><br>(losses) on <br><br>financial <br><br>instruments		Total
Investment Banking and Capital Market		268,366		-		268,366
Treasury Sales & Structuring		4		57,520		57,524
Investments and Wealth Management		8,590		-		8,590
Capital Remuneration		-		102,862		102,862
Total		276,960		160,382		437,342

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

14.	Net interest revenue (expense) and gains (losses) on financial instruments
	Three-month period ended
---	---	---	---	---	---	---
Parent Company	09/30/2025			09/30/2024
- Income from financial assets at fair value through profit or loss		364			-
- Expenses with financial assets at fair value through profit or loss		(3,462	)		(388	)
Net interest revenue (expense) and gains (losses) on financial instruments		(3,098	)		(388	)
	Nine-month period ended
---	---	---	---	---	---	---
Parent Company	09/30/2025			09/30/2024
- Income from financial assets at fair value through profit or loss		12,239			10,590
- Expenses with financial assets at fair value through profit or loss		(5,170	)		(218	)
Net interest revenue (expense) and gains (losses) on financial instruments		7,069			10,372
	Three-month period ended
---	---	---	---	---	---	---
Consolidated	09/30/2025			09/30/2024
Interest revenues
- Income from loans		14,775			5,258
- Income from guarantees granted		539			468
Financial assets
- At amortized cost		3,048			-
- At fair value through profit or loss		427,901			369,276
Total interest revenues		446,263			375,002
Interest expenses
- Funding expenses		(519,224	)		(268,164	)
- Positive fair value - funding (Hedged Item)		(631	)		(328	)
Financial assets
- At fair value through profit or loss		(118,178	)		(130,728	)
Total interest expenses		(638,033	)		(399,220	)
Net gains (losses) from operations in foreign currency
Foreign exchange income		19,037			29,939
Foreign exchange expenses		(1,235	)		(9,574	)
Total		17,802			20,365
Gains (losses) on derivative transactions
Income from derivative operations		4,452,593			1,374,844
Expenses on derivative operations		(4,216,570	)		(1,317,765	)
Total		236,023			57,079
Net interest revenue (expense) and gains (losses) on financial instruments		62,055			53,226

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

	Nine-month period ended
Consolidated	09/30/2025			09/30/2024
Interest revenues
- Income from loans		53,191			16,482
- Income from guarantees granted		1,506			1,322
Financial assets
- At amortized cost		10,589			-
- At fair value through profit or loss		1,463,420			938,820
Total interest revenues		1,528,706			956,624
Interest expenses
- Funding expenses		(1,342,968	)		(735,030	)
- Positive (negative) fair value - funding (Hedged Item)		994			(967	)
Financial assets
- At fair value through profit or loss		(175,971	)		(536,408	)
Total interest expenses		(1,517,945	)		(1,272,405	)
Net gains (losses) from operations in foreign currency
Foreign exchange income		36,471			101,498
Foreign exchange expenses		(16,425	)		(52,537	)
Total		20,046			48,961
Gains (losses) on derivative transactions
Income from derivative operations		8,318,535			3,836,711
Expenses on derivative operations		(8,180,110	)		(3,409,509	)
Total		138,425			427,202
Net interest revenue (expense) and gains (losses) on financial instruments		169,232			160,382
15.	Administrative expenses
---	---
	Three-month period ended				Nine-month period ended
---	---	---	---	---	---	---	---	---	---
Parent Company	09/30/2025		09/30/2024		09/30/2025		09/30/2024
Outsourced service expenses		1,220		352		6,093		888
Financial system expenses		388		103		790		389
Data processing expenses		35		33		93		89
Travel expenses		105		45		127		104
Advertising and publicity expenses		76		63		210		196
Other expenses		512		223		726		416
Total		2,336		819		8,039		2,082
Reversal of administrative expenses		-		-		-		(466	)
Total		2,336		819		8,039		1,616
	Three-month period ended					Nine-month period ended
---	---	---	---	---	---	---	---	---	---	---
Consolidated	09/30/2025		09/30/2024			09/30/2025		09/30/2024
Outsourced service expenses		13,225		31,478			32,999		63,645
Financial system service expenses		2,034		1,791			5,637		6,339
Data processing expenses		3,056		2,406			8,575		6,907
Amortization and depreciation expenses		2,449		2,174			7,348		6,037
Rent expenses		1,120		926			3,713		2,833
Travel expenses		2,249		665			4,162		1,756
Communication expenses		1,207		1,201			3,498		3,274
Promotion and public relations expenses		1,281		531			2,412		1,440
Tax expenses		2,446		699			4,506		2,372
Other expenses		2,337		2,021			6,204		5,409
Total		31,404		43,892			79,054		100,012
Reversal of administrative expenses		-		(13	)		-		(1,274	)
Total		31,404		43,879			79,054		98,738

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

16.	Tax expenses
	Three-month period ended				Nine-month period ended
---	---	---	---	---	---	---	---	---
Consolidated	09/30/2025		09/30/2024		09/30/2025		09/30/2024
Revenues from services rendered
- PIS		824		1,204		2,202		2,577
- COFINS		3,869		5,579		10,699		12,078
- ISS		3,468		5,155		11,280		13,657
Income (loss) from financial instruments net of interest
- PIS		289		392		1,066		1,061
- COFINS		1,763		2,393		6,560		6,526
Total		10,213		14,723		31,807		35,899

17.	Income taxes

a.	Current and deferred taxes
	Three-month period ended						Nine-month period ended
---	---	---	---	---	---	---	---	---	---	---	---	---
Parent Company	09/30/2025			09/30/2024			09/30/2025			09/30/2024
Profit before income tax		42,087			49,987			130,446			155,072
Rate (25% Income Tax (IR) and 9% Social Contribution (CSLL))		(14,309	)		(16,995	)		(44,352	)		(52,725	)
- Permanent (additions)/Exclusions		(1,177	)		-			(1,843	)		(408	)
- Temporary differences without recording deferred tax assets		202			(318	)		2,349			3,766
- Additions/exclusions – Undistributed earnings in equity method investees		16,220			17,856			45,765			51,378
Deferred formation/(reversal) for the period		137			132			93			(3,526	)
Tax losses and negative basis		(936	)		(543	)		(1,919	)		(2,011	)
Income tax and social contribution in the periods		137			132			93			(3,526	)
	Three-month period ended						Nine-month period ended
---	---	---	---	---	---	---	---	---	---	---	---	---
Consolidated	09/30/2025			09/30/2024			09/30/2025			09/30/2024
Profit before income tax		64,361			65,414			182,468			192,781
Total income tax and social contribution charge at statutory rates		(21,883	)		(22,240	)		(62,039	)		(65,545	)
Effect of additions and deductions on the calculation of taxes:
- Permanent additions/(exclusions)		354			748			1,903			567
- Temporary differences without recording deferred tax assets		340			(187	)		538			239
- Other ^(1)^		(948	)		6,384			7,669			23,504
Income tax and social contribution in the periods		(22,137	)		(15,295	)		(51,929	)		(41,235	)
Effective rate		34.4	%		23.4	%		28.5	%		21.4	%
Deferred income tax and social contribution		(20,505	)		719			(33,699	)		(17,456	)
Current income tax and social contribution		(1,632	)		(16,014	)		(18,230	)		(23,779	)
Income tax and social contribution in the periods		(22,137	)		(15,295	)		(51,929	)		(41,235	)

(1)	Basically includes: (i) adjustment for the<br> different rates of non-financial companies taxed based on the presumed profit (BR Partners Gestão de Recursos Ltda., BR<br> Partners Mercados de Capitais Ltda., BR Partners Assessoria em Reestruturação Financeira Ltda. and BR Partners<br> Corretora de Seguros Ltda.); and (ii) difference in the financial institution’s tax rate.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

b.	Deferred tax assets and liabilities

						Realization
Parent Company	12/31/2024			Constitution		/(Write-off)		09/30/2025
Tax loss and negative basis of social contribution		3,060			1,904		-		4,964
Total deferred tax assets		3,060			1,904		-		4,964
Deferred tax obligations on fair value of financial assets		20,840			1,811		-		22,651
Total deferred tax liabilities		20,840			1,811		-		22,651
Total net deferred tax assets (liabilities)		(17,780	)		93		-		(17,687	)
							Realization
---	---	---	---	---	---	---	---	---	---	---	---	---
Parent Company	12/31/2023			Constitution			/(Write-off)			09/30/2024
Tax loss and negative basis of social contribution		3,060			-			-			3,060
Total deferred tax assets		3,060			-			-			3,060
Deferred tax obligations on fair value of financial assets		17,452			3,961			(435	)		20,978
Total deferred tax liabilities		17,452			3,961			(435	)		20,978
Total net deferred tax assets (liabilities)		(14,392	)		(3,961	)		435			(17,918	)
							Realization
---	---	---	---	---	---	---	---	---	---	---	---	---
Consolidated	12/31/2024			Constitution			/(Write-off)			09/30/2025
Temporary differences		33,178			8,465			(20,826	)		20,817
Adjustment to fair value of financial assets recorded in other comprehensive income		7,626			-			(142	)		7,484
Tax loss and negative basis of social contribution		54,835			1,904			(1,091	)		55,648
Total deferred tax assets		95,639			10,369			(22,059	)		83,949
Deferred tax obligations on fair value of financial assets		141,816			23,438			-			165,254
Deferred tax liabilities arising from cash-basis revenues		6,283			1,706			(2,993	)		4,996
Total deferred tax liabilities		148,099			25,144			(2,993	)		170,250
Total net deferred tax assets and (liabilities)		(52,460	)		(14,775	)		(19,066	)		(86,301	)
						Realization
---	---	---	---	---	---	---	---	---	---	---	---
Consolidated	12/31/2023			Constitution		/(Write-off)			09/30/2024
Temporary differences		19,282			18,828		(16,844	)		21,266
Adjustment to fair value of financial assets recorded in other comprehensive income		2,887			6,388		(3,630	)		5,645
Tax loss and negative basis of social contribution		3,060			21,878		(21,878	)		3,060
Total deferred tax assets		25,229			47,094		(42,352	)		29,971
Deferred tax obligations on fair value of financial assets		66,105			25,243		(13,640	)		77,708
Deferred tax liabilities arising from cash-basis revenues		4,123			12,389		(4,550	)		11,962
Total deferred tax liabilities		70,228			37,632		(18,190	)		89,670
Total net deferred tax assets and (liabilities)		(44,999	)		9,462		(24,162	)		(59,699	)

18.	Operating segments

The Group has a single reportable segment as of September 30, 2025 and December 31, 2024. This segment offers investment banking services, which are administered and managed according to the products offered. Thus, there are no differences from the last consolidated annual financial statements in terms of the segmentation basis.

19.	Other information

a.	Guarantees, sureties and guarantees

Financial guarantees are issued through endorsements and sureties, through the entity BR Partners Banco de Investimento S.A. As of September 30, 2025, the amount of collateral provided was R$ 158,381 (R$ 157,118 as of December 31, 2024) and the provision for expected losses was R$ 147 as of September 30, 2025 (R$ 532 as of December 31, 2024).

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

b.	Contingencies

Tax provision

Within BR Partners Group, there is no record of it being a defendant in any tax-related lawsuit for the period ended September 30, 2025 and the year ended December 31, 2024.

Civil provision

In the civil level, there are no lawsuits whose risk of loss is probable or possible in the period and year ended September 30, 2025 and December 31, 2024, respectively.

Labor provision

As of September 30, 2025, the labor lawsuits classified by our legal advisors as a possible loss amounted to R$ 23 (R$ 164 as of December 31, 2024). Labor claims classified as probable losses are recorded in the amount of R$ 1,073 as of September 30, 2025 (R$ 1,368 as of December 31, 2024).

c.	Third-party funds management (not reviewed by the independent auditor)

Assets under management (AuM) and Wealth under Advisory (WuA) managed by the Company are shown below:

Type	09/30/2025
Multimarket Investment Fund		2,079,277	1,474,540
Domestic Investment Fund		748,420	437,973
International Investment Fund		673,548	697,742
Domestic Managed Portfolios		409,329	333,808
International Managed Portfolios		2,071,528	2,241,500
d.	New and amended CPCs / IFRSs in force in the current period
---	---

The following amendments/issues of pronouncements were issued by the IASB/CPC, but were not adopted by the Group for the quarter ended September 30, 2025, as they do not impact the condensed parent company and consolidated interim financial information.

●

Amendments to CPC 02 / IAS 21 “Effects of changes in foreign exchange rates entitled lack ofconvertibility”: the amendments specify how to assess whether a currency is convertible, and how to determine the exchange rate when it is not. The amendments state that a currency is convertible into another currency when the entity is able to obtain another currency within a period that allows for normal administrative delay and through a market or exchange mechanism in which an exchange transaction would create enforceable rights and obligations. When the currency is not convertible into another currency on the measurement date, the entity must estimate the spot exchange rate on that date. The entity’s objective in estimating the spot exchange rate is to reflect the rate at which an organized exchange transaction would occur on the measurement date between market-participating parties under prevailing economic conditions.

New and revised CPCs / IFRSs and laws issued and not yet applicable

---

The following amendments to pronouncements were issued by the IASB, but are not effective for the year 2025. The early adoption of pronouncements, although encouraged by the IASB, is not allowed in Brazil by the Accounting Pronouncement Committee (CPC). At the date of authorization of these financial statements, the Group has not adopted the new and revised IFRSs/CPCs below.

●

IFRS 18 “Presentation and disclosure in financial statements”: IFRS 18 replaces IAS 1 – Presentation of financial statements, carrying over several unchanged requirements from IAS 1 (equivalent to CPC 26) and supplementing them with the new requirements. In addition, some paragraphs of IAS 1 have been moved to IAS 8 – Accounting Policies, Changes in Estimates and Errors and IFRS 7 – Financial Instruments: Disclosures. The IASB has also implemented minor changes to IAS 7 – Statement of Cash Flows and IAS 33 – Earnings per Share. The new requirements of IFRS 18 are as follows:

Present specific categories and subtotals defined in the statement of profit or loss;

---

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

-	Present disclosures on the performance measures defined by Management<br>(MPMs) in the notes to the financial statements;
-	Improvements linked to information aggregation and disaggregation requirements.
---	---

The Group must adopt IFRS 18 for annual reporting periods beginning on or after January 01, 2027. The amendments to IAS 7 and IAS 33, as well as the revised IAS 8 and IFRS 7, becomes effective when the Group applies IFRS 18. This pronouncement requires retrospective application with specific transition provisions. It is also worth highlighting that the Accounting Pronouncements Committee in Brazil has not issued the accounting pronouncement corresponding to IFRS 18 as of the date of approval of these parent company and consolidated financial statements.

The Company’s management expects that the application of these amendments will have an impact on the condensed parent company and consolidated interim financial information.

CPC 45 / IFRS 19 “Subsidiarieswithout public accountability”: this pronouncement allows an eligible subsidiary to provide reduced disclosures when applying IFRS Accounting Standards in its financial statements. The subsidiary is eligible for reduced disclosures if it has no public accountability and its ultimate parent company or any intermediate parent company prepares publicly available consolidated financial statements that comply with IFRS Accounting Standards. The Group’s management does not expect IFRS 19 to be applied in the condensed parent company and consolidated interim financial information.

●	Amendment to CPC 48 / IFRS 9 andCPC 40 / IFRS 7: Classification and measurement of financial instruments. The requirements will come into<br>force for the annual reporting period beginning on or after January 1, 2026, relating to:
-	Definition of financial liabilities through an electronic payment<br>system;
---	---
-	Evaluation of the contractual characteristics of the cash<br>flow of financial assets, including those with characteristics linked to sustainability.
---	---

There are no other IFRS accounting pronouncements or IFRIC interpretations that have not yet come into force that could have a significant impact on the condensed parent company and consolidated interim financial information.

●	The Constitutional Amendment 132/2023 and the Complementary Law 214/2025 established the Tax Reform<br>in Brazil, with a transition period starting in 2026 and concluding by 2033. The new model replaces the taxes PIS, Cofins, ICMS, ISS,<br>and part of IPI with three new taxes:
-	CBS (Contribution on Goods and Services): of federal jurisdiction;
---	---
-	GST (Goods and Services Tax): managed by states and municipalities; and
---	---
-	Selective Tax (IS): is levied on products harmful to health and the environment.
---	---
20.	Financial instruments – Fair value
---	---
i.	Accounting classification and fair values
---	---

Fair value is classified for by the Company in accordance with the evaluation method of financial instruments. The different levels were defined as follow:

●	Level 1: prices quoted (not adjusted) in active markets for assets and liabilities defined;

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

●	Level 2: the evaluation uses information, in addition to quoted prices included in Level 1, information<br>included in level 1 that are observable in the market for the asset or liability, either directly (prices) or indirectly (derived from<br>prices);
●	Level 3: the evaluation uses significant information which is not based on observable market data, i.e.,<br>non-observable inputs built by the Company’s Management.
---	---

A summary of the fair value hierarchy of assets and liabilities at fair value, classified according to the Company’s pricing methodology is presented below:

Parent Company	Level 1		Level 2		Level 3		09/30/2025
Financial assets at fair value through profit or loss
- Investment fund quotas		-		-		123,221		123,221
- Derivative financial instruments		-		1,744		-		1,744
Total		-		1,744		123,221		124,965
Parent Company	Level 1		Level 2		Level 3		12/31/2024
---	---	---	---	---	---	---	---	---
Financial assets at fair value through profit or loss
- Investment fund quotas		-		-		117,895		117,895
Total		-		-		117,895		117,895
Consolidated	Level 1		Level 2		Level 3		09/30/2025
---	---	---	---	---	---	---	---	---
Financial assets at fair value through profit or loss
- Government bonds		10,404,623		-		-		10,404,623
- Private securities		-		313,052		-		313,052
- Investment fund quotas		8,979		-		123,221		132,200
- Derivative financial instruments		6,297		906,289		140,035		1,052,621
Financial assets at fair value through other comprehensive income
- Private securities		-		1,324,110		-		1,324,110
- Investment fund quotas		-		1,762,832		-		1,762,832
Total assets at fair value		10,419,899		4,306,283		263,256		14,989,438
Financial liabilities at fair value through profit or loss
- Derivative financial instruments		12,675		238,328		13,172		264,175
Total liabilities at fair value		12,675		238,328		13,172		264,175
Consolidated	Level 1		Level 2		Level 3		12/31/2024
---	---	---	---	---	---	---	---	---
Financial assets at fair value through profit or loss
- Government bonds		8,684,734		-		-		8,684,734
- Private securities		-		405,612		-		405,612
- Investment fund quotas		64,976		-		117,895		182,871
- Derivative financial instruments		21,272		940,253		109,665		1,071,190
Financial assets at fair value through other comprehensive income
- Private securities		-		1,063,568		-		1,063,568
- Investment fund quotas		-		1,316,090		-		1,316,090
Total assets at fair value		8,770,982		3,725,523		227,560		12,724,065
Financial liabilities at fair value through profit or loss
- Derivative financial instruments		21,943		277,535		17,837		317,315
Total liabilities at fair value		21,943		277,535		17,837		317,315

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

ii.	Valuation techniques and unobservable assumptions

-	Financial assets measured at fair value - Level 2
Type		Valuation technique
---	---	---
Financial assets at fair value through profit or loss (public and private securities) ^(1)^		Government bonds: The methodology used to calculate the fair value of Government Bonds consists of capturing the rates and curves disclosed by the market on each maturity of Government Bond, thereby obtaining the MtM (Mark to Market) when multiplying by the quantity existing in the portfolio.<br><br> <br><br><br> <br>Private securities: The methodology used to calculate the fair value of private securities consists of capturing the rates of the respective indexes (Pre, CDI - Interbank Certificate of Deposit, IPCA - Extended Consumer Price Index, in Portuguese, IGPM - General Index of market pricing, etc.), then the interest and the future value of the operations are calculated by multiplying by the principal, and after capturing their respective curves, MtM is then obtained, bringing the present value to the respective curve at maturity.
Derivative financial instruments (Swap, NDF)^(1)^		Swap models: The fair value is calculated<br> based on the present value of the estimated future cash flows. Estimates of post-fixed rate future cash flows are based on quoted rates<br> of Swap, future prices and interest rates on interbank loans. Estimated cash flows are discounted using a curve prepared based on similar<br> sources and reflecting the relevant interbank reference rate used by market participants for this purpose when pricing interest rate Swap.<br> The fair value estimate is subject to a credit risk adjustment that reflects the credit risk of the Group and the counterparty, calculated<br> based on credit spreads derived from credit default swaps or current prices of traded securities.<br><br> <br><br><br> <br>Cash flow swap: the (MtM) fair value<br> will correspond to the sum of the MtMs of each flow (according to the methodology described above), whereby the start date and expiration<br> date of flows will be applied in substitution of the start date and expiration date of the operation, as well as the remaining balance<br> to replace the principal.<br><br> <br><br><br> <br>NDF: The NDF (Non-Deliverable Forward)<br> product, or even a forward contract, is an over-the-counter contract for the future purchase and sale of an asset, at a parity negotiated<br> between the parties.<br><br> <br><br><br> <br>Since this is an over-the-counter contract,<br> the size of the contract, as well as the expiration date, are freely agreed upon between the participants. Moreover, settlement takes<br> place exclusively by difference (financial settlement) between the market price on the contract’s expiration date (or other dates,<br> in the case of Asian) and the agreed price (in the case of a long position for a short position, it is the opposite); thus, there is no<br> physical delivery of the asset.<br><br> <br><br><br> <br>The<br>fair value of an NDF is obtained by estimating a future value based on the current price of the underlying asset, brought to maturity<br>by the respective curves constructed from similar sources, and which reflect the relevant interbank reference rates used by market participants<br>and brought to present value by the respective market curve.

(1)	Significant<br> unobservable inputs and the relationship between significant unobservable inputs and fair<br> value measurement are not applicable.
-	Financial asset measured at fair value - Level 3
---	---
Type	Valuation technique	Significant non-observable inputs	Relationship between significant non-observable inputs and measurement of fair value
---	---	---	---
Financial assets at fair value through profit or loss - Equity investment fund quotas	Discounted cash flows: The valuation model considers the present value of the expected future payments, discounted by a rate adjusted at risk.	Equity investment funds that have investments in real estate development and commercial companies in which they depend on non-observable factors in the market, which use, among other assumptions, expectations and projections of future results, growth rates, discount rates and inflation rates, among others.	Estimated fair value could increase (decrease) if:<br><br> <br>- expected cash flow would be higher (lower); or<br><br> <br>- the risk-adjusted discount rate is lower (higher).

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

Type	Valuation technique	Significant non-observable inputs	Relationship between significant non-observable inputs and measurement of fair value
Derivative financial instruments - Options	The fair value (price) of an option, i.e., its<br> premium, is given by the possibility of exercising it. More specifically, it is given by the immediate possibility of exercise or by the<br> possibility of being exercised later. Thus, the pricing of the premium consists of two types of values, respectively:<br><br> <br><br><br> <br>● Intrinsic<br> value: which only exists when the value of the asset in the cash market is higher than the exercise price (strike price) in the case of<br> a call option and the reverse for a put option. Therefore, an in-the-money option has intrinsic value.<br><br> <br><br><br> <br>● Time<br> value: this is the difference between the premium and the intrinsic value of the option. So, this value depends on the price of the underlying<br> asset, the option’s expiration time, the expected volatility of the underlying asset’s quotes, the interest rate, and in the<br> case of the quota as an underlying asset, the expected dividends, as shown below:<br><br> <br><br><br> <br>Price of the Target Asset: according to<br> the relationship between the price of the underlying asset on the spot market and the strike price of the option, options can be classified<br> as:<br><br> <br><br><br> <br>i. In-the-money<br> option: price of the underlying asset is higher than the strike price of the option in the case of the call option and lower in the case<br> of the put option;<br><br> <br><br><br> <br>ii. At-The-Money<br> option: price of the underlying asset is equal to the strike price of the call and put option;<br><br> <br><br><br> <br>iii. Out-of-the-money<br> option: price of the underlying asset is lower than the strike price of the call option and higher for the put option.<br><br> <br><br><br> <br>● Time:<br>the longer the time for the option to expire, the greater the premium value, as the greater the probability of exercising the option;<br><br> <br><br><br> <br>● Volatility:<br> the greater and more frequent the price fluctuations, the greater the unpredictability of the exercise and, therefore, the greater the<br> risk for the writer, which results in a higher premium as well;<br><br> <br><br><br> <br>● Interest<br> rate: represents the opportunity cost of acquiring the underlying asset, so that the higher this cost of money, the more advantageous<br> it becomes to buy the option than to buy the underlying asset directly. In the case of the call option, this relationship is reversed.<br><br> <br><br><br> <br>● Dividend:<br> the higher the expected dividend payment, the greater the benefit of acquiring the share and, therefore, the higher the option premium.<br><br> <br><br><br> <br>The time value is gradually reduced<br> until it reaches zero on the option’s expiration date.	The significant unobservable data used in the fair<br> value measurement of derivative financial instruments (Options) classified as Level 3 are:<br><br> <br><br><br> <br>● interest<br> rate,<br><br> <br><br><br> <br>● price<br> of the target asset and<br><br> <br><br><br> <br>● volatility	Significant changes in any of these inputs<br>alone or in combination may result in significant changes in fair value.

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

Type	Valuation technique	Significant non-observable inputs	Relationship between significant non-observable inputs and measurement of fair value
Derivative financial instruments – Swap	The adjustments to fair value arising from the financing costs of certain derivative contracts reflect changes in the fair value of said contracts given their cash flow profile over time and/or the guarantees provided.	The unobservable data used in the fair value methodology of some swaps is related to internal funding rates.	Significant changes in internal funding rates can result in material changes in fair value.
iii.	Reconciliation of Level 3 fair values
---	---

The following table presents a reconciliation of the opening and closing balances of financial instruments classified as Level 3 at fair value:

●	Investment fund quotas
	FVTPL		FVTPL
---	---	---	---	---	---	---
	Outlet		BR FIM		Total
December 31, 2023		80,219		21,710		101,929
Acquisition of investment fund quotas		-		6,000		6,000
Fair value increase		7,736		2,230		9,966
December 31, 2024		87,955		29,940		117,895
Fair value increase		1,177		4,149		5,326
September 30, 2025		89,132		34,089		123,221
●	Options
---	---


December 31, 2023	4,924		(4,561	)
Premiums paid (received)	59,693		(81,331	)
Net change in fair value	(45,800	)	68,055
December 31, 2024	18,817		(17,837	)
Premiums paid (received)	61,469		(5,762	)
Net change in fair value	(13,179	)	17,206
September 30, 2025	67,107		(6,393	)

BRBI BR Partners S.A. (formerly “BRAdvisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

●	Swap
	Assets			Liabilities
---	---	---	---	---	---	---
Cost		(2,017	)		-
Adjustment to fair value		61,391			-
Adjustment to fair value (FVA)		31,802			-
Counterparty’s credit risk adjustment		(328	)		-
December 31, 2024		90,848			-
Cost		(24,880	)		(13,618	)
Adjustment to fair value		62,124			3,200
Adjustment to fair value (FVA)		35,834			3,639
Counterparty’s credit risk adjustment		(150	)		-
September 30, 2025		72,928			(6,779	)
Fair value variation (level III) during the period (FVA)		4,032			3,639

iv.	Sensitivity analysis of financial assets classified as Level 3

Sensitivity analysis for financial instruments classified as Level 3 is essential to understand the uncertainty associated with fair value estimates. These instruments are measured based on unobservable market data, which significantly implies a high level of judgment and estimation by management.

For the performance of the analysis, we consider the main assumptions that influence fair value, such as discount rates, volatility, average internal funding rates and other factors specific to financial instruments. For example, a change in the discount rate can have a substantial impact on fair value, reflecting changes in market conditions or economic expectations.

Furthermore, the volatility of the prices of the underlying assets can directly affect the valuation of financial instruments classified as Level 3. Greater volatility can increase uncertainty and, consequently, the range of possible changes in fair value.

Other factors, such as changes in economic conditions or the regulatory environment, can also influence fair value estimates. Management monitors these matters and adjusts the valuation as necessary to make sure that the values have been adequately reported reflecting market conditions and associated risks, as well as the interrelationships that exist between these variables and the fair value of the financial instruments.

During the period ended September 30, 2025 and year 2024, there were no changes in the measurement method of financial assets and liabilities that would imply the reclassification of assets and liabilities between different levels of the fair value hierarchy.

STATEMENT OF EXECUTIVE BOARD ON THEINDEPENDENT AUDITORS’ REPORT ON REVIEW OF CONDENSED PARENT COMPANY AND CONSOLIDATED INTERIM FINANCIAL INFORMATION

Pursuant to Article 27, §1, item V of CVM Resolution 80, of March 29, 2022, we hereby declare that: i) we are responsible for the information contained in this file; and ii) we reviewed, discussed and agreed with the opinions expressed in the independent auditors’ report on this condensed parent company and consolidated interim financial information of BRBI BR Partners S.A. (“Company”), formerly “BR Advisory Partners Participações S.A.” for the three- and nine-month period ended September 30, 2025.

São Paulo (SP), November 6, 2025

José Flávio Ferreira Ramos

Chief Financial Officer

STATEMENT BY THE EXECUTIVE BOARDON CONDENSED PARENT COMPANY AND CONSOLIDATED INTERIM FINANCIAL INFORMATION

Pursuant to Article 27, §1, item VI of CVM Resolution 80, of March 29, 2022, we hereby declare that: i) we are responsible for the information contained in this file; and ii) we reviewed, discussed and agreed with the condensed parent company and consolidated interim financial information of BRBI BR Partners S.A. (“Company”), formerly “BR Advisory Partners Participações S.A.” for the three- and nine-month period ended September 30, 2025.

São Paulo (SP), November 6, 2025

José Flávio Ferreira Ramos

Chief Financial Officer