Vinci Compass Investments Ltd 6-K, filed Mar 17, 2026
Vinci Compass Investments Ltd. (VINP)
About this 6-K
Vinci Compass Investments Ltd filed this 6-K on March 17, 2026.
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 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2026
Commission File Number: 001-39938
Vinci Compass Investments Ltd.
(Exact name of registrant as specified in its charter)
Av. Bartolomeu Mitre, 336
Leblon – Rio de Janeiro
Brazil 22431-002
+55 (21) 2159-6240
(Address of principal executive office)
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 | X | Form 40-F |
TABLE OF CONTENTS
| EXHIBIT | |
| 99.1 | Vinci Compass Investments Ltd. Investor Presentation March 2026 |
SIGNATURE
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.
| Vinci Compass Investments Ltd. | |||
| By: | /s/ Sergio Passos Ribeiro | ||
| Name: | Sergio Passos Ribeiro | ||
| Title: | Chief Financial Officer | ||
Date: March 17, 2026
EXHIBIT 99.1
1 March 2026 Investor Presentation
2 Vinci Compass is a leading full - service alternative asset manager in Latin America Credit Private Equity Equities Global Investment Products & Solutions Real Assets Strategies focused on growth equity transactions in Brazil, working towards transformational growth in collaboration with management teams and founders Credit solutions developed to meet needs of both mature and growing businesses, through Private and Public Credit, opportunistic credit and agribusiness Long - term positions based on fundamental analysis of LatAm publicly - traded companies Investments focused on tangible, income - generating assets through real estate, infrastructure and forestry strategies High value - added financial and strategic advisory services, focusing primarily on middle market, M&A and debt capital markets (DCM) transactions Providing access to proprietary investment solutions and world - class managers RESEARCH RISK LEGAL & COMPLIANCE INVESTOR RELATIONS OPERATIONS SUSTAINABILITY CLIENT RELATIONS Notes: ¹AuM considers assets under management and advisory as of December 2025. AuM is calculated as consolidated with double co unting, due to funds from one segment investing in other segments and it’s eliminated on consolidation and excluding double counting from co - managed funds between our segments. Corporate Advisory R$ 354 bn AuM¹
3 The premier partner for alternative investments and global solutions in Latin America Notes: ¹ Considers assets under management and advisory as of December 2025 for Vinci Compass; S ources: Argentina (ANSES, SSN), Brasil (ANBIMA), Chile (SP, CMF, “Radiografía y perspectivas de los family offices para 2024, Ameris - El Mercurio Chile”) , Colombia (SFC), Costa Rica (SUPEN), Mexico (CNBV, Consar, Indeval), Peru (SBS) Uruguay (BPS), Uruguay (BCU), UBS Global Family Office Report, Vinci Compass estimates based on best understanding from insights gathered when discussing with clients and public information available; Preqin. The premier partner for alternative investments and global solutions in Latin America The premier partner for alternative investments and global solutions in Latin America Our footprint in Latin America, with significant opportunities for alternative investments across the region Vinci Compass’ offices +630 Employees 60 Partners R$ 354 bn A u M ¹ 1 2 Offices 8 Countries 30 years Providing investment solutions across Latin America, serving institutions, pensions, and family offices US$7 tn Total Addressable Market US$87 bn Alternatives AuM 4x Growth since 2010 Client Profile Addressable Market Breakdown 67% 33% Institutional Investors Family Offices & HNWI +50 Active Strategies Across alternatives, liquids and global solutions, diversified by asset class, geography, and investor profile
4 Pan - Regional presence with a diversified exposure to product offering, funding and currency Segments Breakdown Country Breakdown (Funding) Client Profile Breakdown Country Breakdown (Asset Allocation) Notes: ¹ Considers assets under management and advisory as of December 2025. ²Fee Related Revenues as of FY’25 excluding net advisory rev enues from Corporate Advisory, except for Segments Breakdown, which includes all net advisory revenues. Full - year values are calculated as the sum of the last four quarters. 62% 19% 17% 2% Institutional HNWI Intermediaries Public Market Vehicles 77% 10% 5% 4% 4% 38% 23% 12% 12% 8% 4% 3% 1% Chile Brazil Global Mexico Colombia Peru Uruguay Argentina 66% 25% 3% 3% 2% 1% 1% Global Brazil LatAm Mexico Chile Argentina Peru Uruguay 40% 24% 13% 13% 8% 2% Global IP&S Credit Private Equity Real Assets Equities Corporate Advisory 49% 23% 22% 6% 47% 28% 6% 6% 5% 5% 2% 1% 40% 29% 10% 8% 6% 3% 3% 2% AuM¹ (%) Fee Related Revenues² (%)
5 Deep Access to Latin American & Global LPs HNWI & Intermediaries 300+ relationships with family offices and UHNWI Over 520 intermediaries distributing Vinci Compass strategies Institutional Investors Deep access to Latin American pension funds, including 100% penetration in Chile, Peru, Colombia, Argentina and Uruguay Established distribution through global platforms and direct mandates Strong position with insurance companies Robust relationships with sovereign wealth funds, endowments and financial institutions Scaled distribution capabilities Local, on - the - ground coverage across 8 markets + Global Direct access to pensions, insurers and platforms + 2,800 LPs 80 %+ Proprietary Relationships Notes: As of December 2025 Country Breakdown AuM by funding 38% 23% 12% 12% 8% 4% 3% 1% Chile Brazil Global Mexico Colombia Peru Uruguay Argentina
6 Notes: As of December 2025. Local teams providing local, regional and global solutions to our clients Operational & Client Service Backbone High involvement from our partners Client Relations Group 83 relationship managers across 9 countries 5 Argentina 25 Brazil 20 Chile 4 Colombia 11 Mexico 3 Peru 10 United states 1 United kingdom 4 Uruguay Number of professionals Average of 17 years of industry experience Seasoned and tenured team 21 partners with an average of 15 years at Vinci Compass are part of this team, and remain actively engaged with our local and global clients Supported by 35+ professionals involved in Marketing, Client Services/Support and Product Specialists
7 Business model built for resilience and long - term shareholder value creation Stable cash flow profile with substantial upside from performance and balance sheet investments FRE + PRE + IRE : recurring cash flow today, with significant gains coming from performance and GP commitments, driving shareholder value creation through cycles Fee Related Earnings Earnings coming from recurring management and advisory fees Durable fee base; diversified and scaling FRE Performance Related Earnings Earnings coming from performance fees realized from our managed funds Since IPO, PRE from Liquid funds has been predominant. PRE from Private funds set to kick in in the next cycle PRE Investment Related Earnings Earnings coming from GP capital gains Embedded engine not fully priced into our current valuation IRE 7
8 FRE: High - Quality Earnings Stream Diversified, recurring, and resilient through cycles FRE More balanced than AuM lower concentration risk oi Resilient through cycles: different drivers protect against earnings volatility as we navigate through different cycles oi Predictable cash flow to fund dividends and reinvestment FRE by segment FY’25 R$ 288 million Key Takeaways: Balanced across strategies and clients Contracted & recurring fees drive visibility Low concentration risk; no single vertical dominates Private Equity: long term AuM and fresh flagship vintage extends fee duration 25% 24% 22% 19% 6% 3% Private Equity Global IP&S Credit Real Assets Equities Corporate Advisory
9 PRE: Two Value Drivers Liquids delivered in a tough cycle, privates next Resilient through the cycle: liquid strategies sustained PRE in a high - rate backdrop Private vehicles early in harvest, building a second driver of PRE Performance - eligible AuM and gross accrued performance fees underpin visibility PRE since IPO distribution as of 4Q’25 83% 17% PRE Liquid PRE Private Private vs. Liquid PEAUM as of 4Q’25 50% 50% Private Liquid
10 PRE: What’s in the Pipeline Performance - eligible base and accrued carry today Portfolio seasoning: core assets maturing to realization phase Embedded carry increasing across flagship vintages Diversified PEAUM across strategies Performance Eligible AuM as of 4Q’25 R$ 46 billion Larger eligible base + accrued carry today ⇒ higher probability of PRE realization over the next cycle Gross Accrued Performance Fees as of 4Q’25 R$ 255 million 26% 22% 19% 18% 15% Private Equity Credit Equities Global IP&S Real Assets 79% 17% 4% 1% Private Equity Credit Real Assets Global IP&S
11 IRE: A Perpetual Compounding Engine IRE is a compounding engine, as each realization creates the capital for the next vintage, perpetuating growth IRE Anchor fundraising LP Commitments Harvest returns Capital calls/ Deployment GP (Re)Commitments Each realization funds the next commitment, leveraging fundraising and FRE , and creating powerful compounding and GP Capital Gains for our shareholders
12 Scale of IRE Commitments We have committed R$1.4 billion of proprietary capital into our private market funds, diversified across all our segments Our commitments today are significant and well diversified, setting up a meaningful future earnings base IRE Commitments Highlights Target Gross IRR Capital Committed (R$ million) Product Strategy 10 - 15% 157 REITs Real Estate REITs Real Assets 17 - 22% 100 Vinci Climate Change Infrastructure Climate Change 15 - 20% 70 Vinci Fullwood Real Estate Logistics 17 - 22% 50 Vinci Água e Saneamento Infrastructure Water & Sewage 25 - 30% 150 SPS IV Opportunistic Capital Solutions Credit 12 - 17% 100 Vinci Credit Infra Infrastructure Credit 25 - 30% 350 VCP IV Capital Partners Private Equity 20 - 25% 50 VSP Strategic Partners Global IP&S R$1.4 bn 40% 28% 26% 4% 2% Real Assets Credit Private Equity Global IP&S Equities
13 Our Flagship Commitments: Driving Future IRE These three flagship funds represent the bulk of Vinci Compass’ proprietary investments, diversifying exposure across strateg ies and anchoring future IRE Together these funds represent R$600 million in IRE commitments , already generating FRE uplift and positioned to deliver capital gains and performance fees as vintages mature Fund Size¹ IRE Commitments Key Portfolio Highlights VCP IV R$ 3.1 billion R$ 350 million capital committed Investment Period: until Dec/2027 Private equity strategy diversified across consumer, financials, tech, business services , and healthcare . ~40% of capital already committed across three flagship assets, early value creation underway through growth and governance initiatives. Strong pipeline with 50+ opportunities , including 7 in advanced stages . Portfolio Investments: 41 % capital called as of 4Q’25 Target Return: 25 - 30% Gross IRR VICC R$ 1.8 billion R$ 100 million capital committed Investment Period: until Mar/2028 Portfolio Investments: 15 % capital called as of 4Q’25 Target Return: 17 - 22% Gross IRR Two DG solar projects operating; more under construction via Mira Energia platform Climate & infrastructure strategy focused on renewables and essential services . Fund in early J - curve stage: capital deployed, no distributions yet, value creation expected as projects reach COD and pipeline matures. Robust R$1.3bn pipeline across solar, storage, and water concessions . SPS IV R$ 1.3 billion (currently being fundraised) R$ 150 million capital committed Investment Period: until Feb/2029 22 % capital called as of 4Q’25 Target Return: 25 - 30% Gross IRR Opportunistic capital solutions strategy, investing in legal claims and tech - enabled credit platforms. Fund in early J - curve stage: recently launched, 8% of capital called, 3 initial investments deployed. Robust pipeline supported by high rates driving demand for alternative financing, especially in corporate lending and secondary credit. Federal Credit Claims Private Claim Portfolio Investments: See notes and definitions at end of document
14 Notes: Vinci Compass’ estimates consider the lower range of the target net IRR from our proprietary capital commitments; ¹Con sid ers the share base as of September 2025. IRE: Embedded Earnings Potential R$ 1.4 billion 18 - 20% Gross Blended Target IRR Total commitments Our balance sheet holds significant capital gains from IRE that will impact our Distributable Earnings in the coming years R$100 million+ Expected Realized IRE Annual Run Rate Contribution ~R$ 1.60 per share¹ or We expect to reach normalized IRE figures between 2028 - 2031 Timing
15 2025 - 2028 Targets at a Glance ~19% CAGR ~25% CAGR Full Year 2025 Full Year 2028 Target R$ 950 mm R$ 288 mm 30% Fee Related Revenues Fee Related Earnings (FRE) FRE margin ~R$ 1.6 bn ~R$ 600 mm 38% R$ 100 billion Fundraising Target from 2H’25 through 2028 ~8 p.p.
16 As of December 31, 2025 Use of Capital Since IPO 18 - 20% R$100 million+ between 2028 - 2031 IRE Commitments Capital Returned to Shareholders M&As Gross Blended Target IRR Expected Realized IRE Annual Run Rate Contribution R$413.2 m illion Cash used R$1.0 b illion Total Dividends distributed since IPO R$345.7 million 14.9 million 8.6x Buybacks R$1.4 billion 13.0x Total IRE Commitment New shares issued Average Post Tax Price/FRE¹ Fundraising Leverage
17 Business Units Deep Dive
18 63% 21% 16% AUM Breakdown by Client Profile Institutional HNWI Intermediaries Global Investment Products and Solutions (Global IP&S) Providing access to a network of world - class GPs and top - tier asset managers, we deliver bespoke global and local investment solutions, granting unparalleled access to opportunities worldwide. R$271 bn AUM R $ 271 billion in AUM 1 Notes: ¹Assets under management and advisory as of December 2025; ²Fee Related Revenues as of FY’25 ; ³TPD stands for Third P art y Distribution. 27% 25% 19% 8% 7% 6% 5% 3% Fee Related Revenues Breakdown by Product Type TPD³ Liquid TPD Alternative Global Solutions Multi-strategy Fund Services Separate Mandate Advisory & Execution Pension Plans 72% 17% 7% 4% Fee Related Revenues² Breakdown by Country (Asset Allocation) Global Brazil Mexico Chile
19 42% 24% 14% 9% 7% 4% AUM Breakdown by Geography (Asset Allocation) Brazil LatAm Mexico Argentina Peru Chile Credit Diversified credit platform with local and hard currency strategies 65+ Portfolio Managers and Analysts R $ 36 billion in AUM Notes: As of December 2025 Local currency Private Credit High Grade & High Yield R$12 .2 bn Hard currency Liquid Credit High Grade & High Yield R$9.0 bn High Grade & High Yield R$1.8 bn Structured Credit & Confirming R$3.0 bn Infrastructure Credit R$3.0 bn Diversified Private Credit R$1.7 bn Real Estate Credit R$0.8 bn Opportunistic Capital Solutions R$3.6 bn Agribusiness R$0.9 bn 52% 32% 14% 2% AUM Breakdown by Client Profile Institutional Intermediaries HNWI Public market vehicles
20 66% 23% 12% AUM Breakdown by Client Profile Institutional HNWI Intermediaries R $ 15 billion in AUM¹ Private Equity 2.2x Gross MOIC² 64.5% Gross IRR² R$15.4 bn AUM &UHDWHGE\&KDQXWLV,QGXVWULHV IURPWKH1RXQ3URMHFW &UHDWHGE\'LQRVRIW/DEV IURPWKH1RXQ3URMHFW VIR VCP Impact guidelines Investment Company Size Influence Sustainability guidelines as risk mitigators drivers of long - term value creation Primarily Cash Ins with flexibility for Cash Outs Upper Middle Market to Large Companies Control and co - control Cash In SMEs (small - to - medium enterprises) Minority with co - control Generates impact at the core of the business and supports SME companies with limited access to capital and know - how 20+ 1.6x Gross MOIC² 21.3% Gross IRR² year track record Buyout Growth Turnaround Minority Growth VCP Strategy Notes: ¹As of December 2025; ²Gross IRR and Gross MOIC in Brazilian Reais, as of September 30, 2025. Turnaround VIR Strategy Minority Growth Equity Check R$300 - 500 mm R$50 - 150 mm
21 80% 12% 8% AUM Breakdown by Client Profile Institutional Intermediaries HNWI Equities Brazil R$10.6 bn • Long Only • Dividends • Small Caps • Long Biased • Others Chile R$3.3 bn • Long Only • Small Caps Strategies Overview Mexico R$0.4 bn • Long Only LatAm R$0.2 bn • Long Only Multi - Country Equity Argentina R$0.4 bn • Long Only • Small Caps Country - Specific Equity Leverage the region’s advantages without the idiosyncratic risks of each country By capitalizing on country - specific expertise and targeting assets often overlooked by regional investors, we unlock opportuniti es in niche markets with fewer participants 80% of our combined investor base consists of Institutional Investors 20+ Portfolio Managers and Analysts R $ 15 billion in AUM Notes: As of December 2025. R$15.3 bn AUM Global R$0.4 bn
22 51% 38% 7% 4% AUM Breakdown by Client Profile Institutional Public Market Vehicles HNWI Intermediaries Real Assets • Investments in major real estate sectors • Seven Listed REITs in the Brazilian Stock Market • Opportunistic Developmen t Strategy with closed - end funds in Brazil • Strategy includes Greenfield and Brownfield projects with Eucalyptus, Pine and Native Forests in Brazil • Three vintages raised since 2009; the fourth fund, Article 9 compliant, is currently being raised • Carbon credits offer a significant return potential on top of traditional forestry revenues ~150,000 ha Total Planted Area in Brazil 560,000+ investors R$15.5 bn AUM of our AUM is in vehicles with 10+ years lock - ups ~80% Forestry R$2.0 bn Real Estate R$6.7 bn R $ 15 billion in AUM Notes: As of December 2025. • Focus on the key infrastructure themes in Brazil: Energy, Transportation and Water & Sewage • Six structured funds and one perpetual listed vehicle • Our Article 9 compliant Climate Change Fund, VICC , concluded fundraising in 2025 38 Companies/Assets Infrastructure R$6.8 bn
23 Notes: As of December 2025. Corporate Advisory M&A • Total or Partial Purchases and Sales of Companies • Joint Ventures and Company Mergers • Board of Directors’ Advisory • Fairness Opinion and Valuation Report Elaboration R$161 bn+ in M&A transactions Fund Raising • Issuing of New Shares (Capitalizations) • Issuing of Debt Titles (Convertible or Not) • Issuing of Titles with Incentivized Coverage • Special Situations Transactions R$60 bn+ in FR transactions Capital Markets • Initial Public Offering (IPO) Advisory • Follow - On Advisory • Issuing of Distributable Titles Advisory R$40 bn+ in CM transactions ~ 85 % of clients re - engage Corporate Advisory’s Pillars Union of values and vision No conflicts of interest Long - term vision Vision of Growth Execution of excellence Trustworthy relationship Sectors Consumer & Retail Oil & Distribution Health Real Estate Financial Services Logistics & Transportation Technology Energy & Mining Others Senior team with multisectoral experience
24 Acquisition of Verde Asset Management
25 Strategic acquisition to scale performance, distribution and profitability Transaction adds immediate scale to our multi - strategy funds and Pension Plan strategies within Global IP&S, by bringing R$16 bn in AuM with attractive ROAs to our AUM mix, reinforcing earnings quality and deepening the share of discretionary mandates in Global IP&S Immediate Scale & AuM Mix Upgrade 01 02 Verde is one of the most recognized brands in the asset management space in Brazil. We are partnering with one of the most respectable and sought - out teams for multi - strategy funds in the region, complementing an important asset - gap across our multi - strategy allocation product offerings , bringing outstanding track record and a stellar management team Outstanding Reputation & Recognized Brand Notes: As of December 2025. Building the Region’s Leader in Global & Local Asset Allocation
26 Significant opportunity to leverage growth by combining Vinci Compass’ distribution network across LatAm countries ex - Brazil to distribute Global Multi - strategy funds Unlock Distribution Across LatAm 03 04 Opportunity to develop new products combining origination and presence in the alternatives markets from Vinci Compass with Verde’s brand power across HNWI and intermediaries' channels Combining forces to create new strategies Strategic acquisition to scale performance, distribution and profitability Building the Region’s Leader in Global & Local Asset Allocation
27 Verde executives and senior management will continue in their current roles, preserving independent investment and risk - management governance over managed funds. Luis Stuhlberger will join Vinci Compass as a partner , alongside main executives from Verde. Shares received as part of the Transaction will be subject to lockups with partial releases over a period of five years Management Team Alignment & Retention 05 06 Transaction was structured in two phases, with Vinci Compass acquiring 100% of Verde in five years, and follows a "Price - to - Fee Related Revenues" multiple, thus protected against AuM oscillations . We expect the Transaction to be immediately accretive on a double - digit basis to FRE per share Transaction Structure Strategic acquisition to scale performance, distribution and profitability Building the Region’s Leader in Global & Local Asset Allocation
28 Verde's team has been working together for more than 25 years , tracing its origins to 1997, with the launch of the Verde fund, one of the largest and oldest multi - strategy funds in Brazil Verde has been known as a pioneer in the launch of several investment strategies in Brazil Received the “Best Multi - strategy Fund of the Decade” award from InfoMoney in 2020 280+ media mentions in 2025 , underscoring Verde’s highly recognized brand R$ 16 bn in assets under management 44% 27% 18% 2% 2% 1% 6% Brazil Multi-strategy Global Multi-strategy Pension Plans Global Equities Credit Brazil Equities Other 54 professionals Verde Asset Management at a Glance Notes: As of December 2025 Leading Multi - strategy platform in Brazil with a widely recognized brand and outstanding track record
29 Financial Highlights
30 0.17 Quarterly Dividend US$ 14 bn Capital Formation & Appreciation 4Q’25 R$ Fourth Quarter & Full Year 2025 Highlights Vinci Compass completed the acquisition of 50.1% stake in Verde Asset Management , contributing with approximately R$16 billion in AuM R$14 billion of capital formation and appreciation in the 4Q’25 and R$42 billion in the FY’25 , with highlights to Global IP&S, Credit and Real Assets segments New R$2.8 billion SMA in Real Assets, to invest in Infrastructure assets in Latin America See notes and definitions at end of document 288 mm FRE FY’25 + 16 % YoY R$ R$ 4.52 per share¹ 292 mm Adj. DE FY’25 + 22 % YoY R$ R$ 4.58 per share² Investment Related Earnings (IRE) of R$45.1 million , following portfolios markups in Private Equity and appreciation in listed REITs 45 mn Investment Related Earnings 4Q’25 R$
31 ∆ YoY(%) FY'25 FY'24 ∆ YoY(%) 4Q'25 3Q'25 4Q'24 (R$ thousands, unless mentioned) 67% 812,367 487,532 29% 219,730 201,539 170,193 Net revenue from management fees 35% 91,901 68,134 (62)% 15,444 25,384 40,328 Net revenue from advisory fees 473% 45,429 7,925 49% 11,819 11,404 7,925 Other revenues 69% 949,697 563,591 13% 246,993 238,327 218,446 Total Fee Related Revenues 113% (80,923) (38,027) 48% (21,981) (18,135) (14,895) Segment personnel expenses 92% (63,239) (32,868) 10% (16,200) (14,185) (14,728) Other G&A expenses 396% (78,795) (15,887) 43% (20,527) (19,461) (14,393) Placement Fee Amortization and Rebates 125% (305,015) (135,660) 18% (75,796) (73,083) (64,006) Corporate center expenses 44% (133,342) (92,753) 2% (32,064) (36,407) (31,397) Bonus compensation related to management and advisory 110% (661,316) (315,194) 19% (166,569) (161,271) (139,418) Total Fee Related Expenses 16% 288,381 248,397 2% 80,424 77,056 79,028 FEE RELATED EARNINGS (FRE) 30.4% 44.1% 32.6% 32.3% 36.2% FRE Margin (%) 2% 4.52 4.42 (0)% 1.23 1.22 1.23 FRE per share¹ (R$/share) (25)% 27,706 37,188 (51)% 13,301 2,986 27,412 Net revenue from performance fees (4)% (14,724) (15,349) (23)% (8,409) (1,282) (10,930) Performance based compensation (41)% 12,983 21,840 (70)% 4,892 1,704 16,482 PERFORMANCE RELATED EARNINGS (PRE) 46.9% 58.7% 36.8% 57.1% 60.1% PRE Margin (%) 11% 28,305 25,435 48% 6,082 4,362 4,111 (+) Realized GP investment income N/A 36,937 (10,382) N/A 39,042 686 (208) (+) Unrealized GP investment income 333% 65,242 15,053 1,056% 45,124 5,048 3,903 INVESTMENT RELATED EARNINGS (IRE) (33)% 8,711 12,937 N/A – – 9,454 ( - ) Unrealized performance fees 166% (3,083) (1,159) N/A – – 74 (+) Unrealized performance compensation N/A (36,937) 10,382 N/A (39,042) (686) 208 ( - ) Unrealized GP investment income 9% 335,297 307,451 (16)% 91,398 83,122 109,150 SEGMENT DISTRIBUTABLE EARNINGS 33.1% 48.1% 34.3% 33.8% 42.1% Segment DE Margin (%) 44% 12,517 8,672 (1)% 2,616 3,761 2,636 (+) Depreciation and amortization 28% 63,129 49,269 17% 12,024 14,878 10,308 (+) Realized financial income 85% (15,369) (8,295) 118% (4,516) (3,373) (2,072) ( - ) Leasing expenses (26)% (46,942) (63,809) (93)% (2,196) (9,984) (30,198) ( - ) Other items² (90)% (5,883) (56,562) (88)% (4,877) (133) (39,827) ( - ) Non - operational expenses³ (0)% (52,820) (52,868) 2% (14,894) (15,312) (14,610) ( - ) Income taxes (excluding related to unrealized fees and income) N/A (2,720) – N/A (2,720) – – ( - ) Minority Interest ⁴ 56% 287,209 183,857 117% 76,835 72,959 35,386 DISTRIBUTABLE EARNINGS (DE) 26.7% 26.7% 27.6% 28.0% 13.1% DE Margin (%) 34% 4.50 3.35 113% 1.17 1.15 0.55 DE per share (R$/share)⁵ (91)% 5,236 55,199 (88)% 4,453 133 38,560 (+) Non - operational expenses (including Income Tax effect) 22% 292,445 239,056 10% 81,288 73,092 73,946 ADJUSTED DISTRIBUTABLE EARNINGS⁶ 27.1% 34.7% 29.2% 28.1% 27.4% Adjusted DE Margin (%) 7% 4.58 4.26 8% 1.24 1.16 1.15 Adjusted DE per share 7 (R$/share) See notes and definitions at end of document Fourth Quarter and Full Year 2025 Segment Earnings
32 57% 19% 25% (1)% Capital Formation & Appreciation 4Q'25 Global IP&S Credit Real Assets Equities Private Equity 255 241 271 29 33 36 17 16 15 14 15 15 12 12 15 327 316 354 4Q'24 3Q'25 4Q'25 Global IP&S Credit Private Equity Equities Real Assets Total Assets Under Management and Advisory AuM 4Q’25 vs 3Q’25 vs. 4Q’24 (R$bn) • Total assets under management and advisory (AuM¹) of R$354.1 billion, up 8% year - over - year and 12% quarter - over - quarter • AuM growth in the quarter was pushed mainly by the acquisition of Verde, capital formation across Global IP&S, Real Assets and Credit, and overall portfolio appreciation • Vinci Compass signed an SMA of R$2.8 billion in capital commitments in our Infrastructure strategy, which will start contributing to FEAUM as capital is deployed R$14.1 billion See notes and definitions at end of document
33 Vinci Compass recognizes the performance revenue according to IFRS 15. Unrealized performance fees are recognized only when i s h ighly probable that the revenue will not be reversed in the Income Statement. The fund FIP Infra Transmissão in Infrastructure had R$1.7 million as of the end of the fourth quarter of 2025 booked as unre ali zed performance fees in the company’s balance sheet. Accrued performance fees shown for Private Equity funds of R$201.9 million, Credit funds of R$42.3 million, Real Assets funds of R$7.7 million, and Gl oba l IP&S of R$0.9 million, as of the end of the fourth quarter of 2025, have not been booked as unrealized performance fees in the company’s balance sheet. Additional Capital Detail 79% 17% 4% 1% • Total performance fee eligible AUM (PEAUM) of R$45.8 billion in the 4Q’25 • Our PEAUM is distributed across three different types of indexes: Preferred Return with Catch - Up¹, Preferred Return² and Hurdle³ • Gross accrued performance fees of R$254.7 million in the 4Q’25 • The VCP strategy in Private Equity accounted for R$197.1 million in accrued performance fees, or 77% of total accrued performance fees Performance Eligible AUM R$255 mm 26% 22% 19% 18% 15% Private Equity Credit Equities Global IP&S Real Assets Gross Accrued Performance Fees R$46 bn
34 Fee Related Revenues Management fees were R$219.7 million in the 4Q’25, up 29% year - over - year. The increase was driven by the Compass, Lacan and Verde transactions on the inorganic side and organic growth, especially in the Credit segment Fee Related Revenues 4Q’25 vs. 4Q’24 (R$mm) Fee Related Revenues 4Q’25 YTD vs. 4Q’24 YTD (R$mm) Advisory fees totaled R$15.4 million, down 62% year - over - year. Upfront fees charged by Third Party Distribution Alternative business vary based on the timing of commitments, with most commitments signed earlier in 2025. In addition, revenues from the Corporate Advisory segment declined due to slower deal activity Fee Related Revenues grew 69% YoY to R$949.7 million in the FY’25, supported by a full year of Compass and Lacan, continued fundraising momentum across different countries and Verde acquisition in the 4Q’25 +13% +69% 170 220 40 15 8 12 218 247 4Q'24 4Q'25 Management fees Advisory fees Other revenues 488 812 68 92 8 45 564 950 FY'24 FY'25 Management fees Advisory fees Other revenues
35 4 6 39 4 45 4Q'24 4Q'25 16 5 4Q'24 4Q'25 79 80 4Q'24 4Q'25 Financial Metrics 4Q’25 overview Fee Related Earnings (FRE) of R$80.4 million and R$1.23/share • FRE growth partially offset by catch - up fees from Private Equity segment in the 4Q’24. Excluding this effect, FRE grew by 26% driven primarily by fundraising across Credit and Global IP&S and acquisitions made in the period Performance Related Earnings (PRE) of R$4.9 million and R$0.07/share • Performance fees normalized after a strong 4Q’24, which included one - off contributions from opportunistic funds in Argentina and Peru. In the 4Q’25, revenues came from Global IP&S, Credit, and Equities Investment Related Earnings (IRE) of R$45.1 million and R$0.69/share Fee Related Earnings (FRE) (R$mm) +2% 33% 36 % 1.23 1.23 (70)% Performance Related Earnings (PRE) (R$mm) 37% 60% • Positive yearly portfolio markups in our Private Equity IRE commitments combined with appreciation in our Listed REITs accounted for the increase in unrealized IRE Investment Related Earnings (IRE) (R$mm) Realized GP Investment Income¹ Unrealized GP Investment Income % FRE margin FRE per share % PRE margin +1,056%
36 25 28 (10) 37 15 65 FY'24 FY'25 22 13 FY'24 FY'25 248 288 FY'24 FY'25 Financial Metrics Full Year 2025 overview Fee Related Earnings (FRE) of R$288.4 million and R$4.52/share • FRE in the FY’25 benefited from a full year of Compass and Lacan contributions, supported by strong fundraising throughout the year, as well as Verde acquisition in the 4Q’25 Performance Related Earnings (PRE) of R$13.0 million and R$0.20/share • FY’24 PRE was driven by FIP Infra Transmissão in the 2Q’24, in addition to the one - off strong contributions in the 4Q’24, while FY’25 PRE was concentrated in Global IP&S, Credit and Equities Investment Related Earnings (IRE) of R$65.2 million and R$1.00/share • FY’25 includes the realization of FIP Infra Transmissão during the 2Q’25 and mark - ups in closed - end funds drove the rise in unrealized GP investment income +16% % FRE margin FRE per share Fee Related Earnings (FRE) (R$mm) 30% 44 % 4.42 4.52 Performance Related Earnings (PRE) (R$mm) 47% 59% (41)% % PRE margin Investment Related Earnings (IRE) (R$mm) +333% Realized GP Investment Income Unrealized GP Investment Income
37 239 292 FY'24 FY'25 74 81 4Q'24 4Q'25 Adjusted Distributable Earnings (Adj. DE) Adj. DE for the 4Q’25 grew 10% YoY, supported by higher Management Fees and Other Revenues, partially offset by lower Performance and Advisory fees in the quarter. Higher realized financial income and realized IRE, together with cost synergies throughout 2025, also supported the quarter’s Adjusted Distributable Earnings Adj. DE in the FY’25 reflects the combined effect of acquisitions, capital formation and realized GP investment income within IRE See notes and definitions at end of document Adj. DE 4Q’25 vs. 4Q’24 (R$mm) 29% 27% 1.15 1.24 Adj. DE FY’25 vs. FY’24 (R$mm) 27% 35% 4.26 4.58 +22% +10% Adj. DE per share % Adj. DE margin Adj. DE per share % Adj. DE margin
38 Balance Sheet Highlights & IRE Commitments 4Q'25 3Q'25 (IN R$ MILLIONS, UNLESS MENTIONED) 280.1 215.9 Cash and cash equivalents¹ 1,177.7 1,106.3 Net Investments 333.5 379.9 Liquid funds² 844.1 726.4 IRE Commitments³ (607.1) (535.3) Debt obligations 4 850.6 787.0 Net Cash and Investments 13.00 12.44 Net Cash and Net Investments per share⁵ (R$/share) Net Cash and Investments of R$850.6 million in the 4Q’25, including cash and cash equivalents, investments in liquid funds, IRE Commitments and debt obligations R$ 844.1 mm 26% 21% 16% 16% 14% 4% 2% 1% Private Equity Credit Infrastructure REITs Real Estate Global IP&S Public Equities Forestry Total Capital Committed R$1.4 billion 23% 21% 18% 17% 13% 5% 3% Fair Value of Investments - IRE Commitments
39 726.4 86.8 (0.5) (5.9) 37.4 844.1 3Q'25 Capital Called Principal Returned Gross Capital Gain Returned Appreciation 4Q'25 See notes and definitions at end of document IRE Proprietary Fund Commitments Fair Value of Investments (R$ mm) IRE Commitments Overview Per share R$12.90 R$11.44 Total Capital Committed R$1,430.0 million Total Capital Called R$868.1 million Fair Value of Investments R$844.1 million Accum. Capital Returned R$175.0 million As of 4Q’25, Vinci Compass had R$1,430.0 million in capital commitments signed to proprietary funds mostly across Private Equity, Infrastructure, Credit and Real Estate Total capital called of R$868.1 million, representing 60.7% of the total capital committed to proprietary funds as of December 31, 2025 Fair Value of Investments account for R$844.1 million
40 Appendix – I Segment Summaries
41 25% 24% 22% 19% 6% 3% 22% 22% 22% 23% 7% 3% Private Equity Global IP&S Credit Real Assets Equities Corporate Advisory Financials by Segment Fee Related Earnings (FRE) FY’25 by Segment Segment Distributable Earnings (DE) FY’25 by Segment Fee Related Earnings (FRE) were R$288.4 million in the FY’25, with 25% of FRE coming from Private Equity, Global IP&S accounting for 24%, Credit with 22%, followed by Real Assets with 19%, Equities accounting for 6% and Corporate Advisory for 3% Segment Distributable Earnings (DE) were R$335.3 million in the FY’25, with 23% coming from Real Assets, followed by Private Equity, Global IP&S and Credit with 22%, Equities accounting for 7% and Corporate Advisory for 3% R$335 mm R$288 mm
42 See notes and definitions at end of document TPD Liquid 47% TPD Alternative 28% Multi - strategy 12% Global Solutions 7% Advisory & Execution 3% Pension Plans 1% Fund Services 1% Global IP&S AuM Breakdown by Strategy Global Investment Products & Solutions (Global IP&S) R$271 bn AuM Fee Related Earnings (FRE) of R$69.1 million in the FY’25, up 139% YoY, driven mostly by the growth in management fees following the combination with Compass and the acquisition of Verde Advisory fees of R$63.7 million in the FY’25, an increase of 235% year - over - year, from upfront fees¹ charged in TPD² Alternative strategy Global IP&S AuM was R$271.5 billion in the 4Q’25, with R$14.5 billion from the acquisition of Verde, R$4.6 billion in net inflows and R$11.3 billion across appreciation and FX variation ∆ YoY (%) FY'25 FY'24 ∆ YoY (%) 4Q'25 3Q'25 4Q'24 (R$ THOUSANDS, UNLESS MENTIONED) 162% 267,214 101,945 78% 77,943 63,956 43,857 Net revenue from management fees 235% 63,714 19,045 (68)% 5,755 17,886 17,988 Net revenue from advisory fees 479% 44,869 7,745 53% 11,819 11,216 7,745 Other revenues 192% 375,797 128,737 37% 95,516 93,058 69,590 Total Fee Related Revenues 130% (24,871) (10,798) 85% (7,467) (5,265) (4,036) Segment personnel expenses 118% (32,423) (14,867) 46% (9,238) (7,759) (6,330) Other G&A expenses 499% (39,755) (6,633) 61% (10,669) (9,964) (6,633) Placement Fee Amortization and Rebates 245% (158,817) (46,068) 17% (38,451) (38,349) (32,747) Corporate center expenses 138% (50,821) (21,397) 69% (9,703) (16,101) (5,729) Bonus compensation related to management and advisory 207% (306,687) (99,762) 36% (75,528) (77,438) (55,474) Total Fee Related Expenses 139% 69,110 28,974 42% 19,988 15,620 14,116 FEE RELATED EARNINGS (FRE) 18.4% 22.5% 20.9% 16.8% 20.3% FRE Margin (%) (41)% 8,897 15,006 (53)% 6,856 211 14,636 Net revenue from performance fees (41)% 8,897 15,006 (53)% 6,856 211 14,636 Realized performance fees N/A – – N/A – – – Unrealized performance fees 10% (5,342) (4,838) (4)% (4,454) (60) (4,619) Performance based compensation (65)% 3,555 10,169 (76)% 2,402 151 10,017 PERFORMANCE RELATED EARNINGS (PRE) 40.0% 67.8% 35.0% 71.6% 68.4% PRE Margin (%) 96% 964 493 2,860% 272 – 9 (+) Realized GP investment income (92)% 462 5,499 (72)% 586 565 2,057 (+) Unrealized GP investment income (76)% 1,426 5,993 (58)% 858 565 2,067 INVESTMENT RELATED EARNINGS (IRE) (92)% (462) (5,499) (72)% (586) (565) (2,057) ( - ) Unrealized GP investment income N/A – – N/A – – – ( - ) Unrealized performance fees N/A – – N/A – – – (+) Unrealized performance compensation 86% 73,630 39,637 (6)% 22,662 15,771 24,142 SEGMENT DISTRIBUTABLE EARNINGS 19.1% 27.5% 22.1% 16.9% 28.7% Segment DE Margin (%) 6% 270,156 254,004 6% 270,156 239,978 254,004 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions ) 0.13% 0.25% 0.15% 0.13% 0.20% AVERAGE FEE RATE (%) 14% 220,403 193,984 14% 220,403 191,957 193,984 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions) EX - UPFRONTS 4 0.17% 0.25% 0.18% 0.16% 0.20% AVERAGE FEE RATE (%) EX - UPFRONTS
43 Local Currency High Grade & High Yield 39% Hard Currency High Grade & High Yield 25% Real Estate & Infrastructure Credit 10% Opportunistic Capital Solutions 10% Structured Credit & Confirming 8% Diversified Private Credit 5% Agribusiness 3% Credit AuM Breakdown by Strategy Credit R$36 bn AuM Fee related earnings (FRE) in the 4Q’25 posted a 202% increase year - over - year, driven by Compass business combination, strong fundraising, capital deployment and portfolio appreciation across different strategies and countries Our one - stop - shop credit platform is accelerating both local - to - local and cross - border, delivering R$3.2 billion in organic and inorganic capital formation and appreciation during the 4Q’25 ∆ YoY (%) FY'25 FY'24 ∆ YoY (%) 4Q'25 3Q'25 4Q'24 (R$ THOUSANDS, UNLESS MENTIONED) 177% 231,647 83,489 64% 63,846 60,464 38,923 Net revenue from management fees 682% 2,384 305 9,556% 2,384 – 25 Net revenue from advisory fees N/A – – N/A – – – Other revenues 179% 234,031 83,792 70% 66,230 60,464 38,947 Total Fee Related Revenues 189% (27,477) (9,494) 51% (7,503) (6,195) (4,970) Segment personnel expenses 130% (11,753) (5,103) 9% (3,034) (2,968) (2,790) Other G&A expenses 457% (31,310) (5,616) 42% (7,977) (7,744) (5,616) Placement Fee Amortization and Rebates 196% (69,011) (23,324) 41% (18,481) (16,200) (13,147) Corporate center expenses 113% (30,682) (14,430) 45% (7,671) (6,798) (5,285) Bonus compensation related to management and advisory 194% (170,234) (57,967) 40% (44,666) (39,905) (31,808) Total Fee Related Expenses 147% 63,797 25,826 202% 21,565 20,559 7,139 FEE RELATED EARNINGS (FRE) 27.3% 30.8% 32.6% 34.0% 18.3% FRE Margin (%) 14% 9,594 8,403 (5)% 4,710 362 4,980 Net revenue from performance fees 14% 9,594 8,403 (5)% 4,710 362 4,980 Realized performance fees N/A – – N/A – – – Unrealized performance fees 41% (4,760) (3,365) 43% (2,647) (152) (1,848) Performance based compensation (4)% 4,833 5,040 (34)% 2,063 210 3,132 PERFORMANCE RELATED EARNINGS (PRE) 50.4% 60.0% 43.8% 57.9% 62.9% PRE Margin (%) (8)% 6,612 7,177 8% 1,672 1,647 1,548 (+) Realized GP investment income N/A 11,927 (7,851) N/A 2,549 642 (8,970) (+) Unrealized GP investment income N/A 18,538 (674) N/A 4,221 2,289 (7,422) INVESTMENT RELATED EARNINGS (IRE) N/A (11,927) 7,851 N/A (2,549) (642) 8,970 ( - ) Unrealized GP investment income N/A – – – – – – ( - ) Unrealized performance fees N/A – – – – – – (+) Unrealized performance compensation 98% 75,242 38,044 114% 25,300 22,416 11,819 SEGMENT DISTRIBUTABLE EARNINGS 30.1% 38.3% 34.8% 35.9% 26.0% Segment DE Margin (%) 26% 35,870 28,540 26% 35,870 32,445 28,540 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions) 0.77% 0.83% 0.76% 0.80% 0.80% AVERAGE FEE RATE (%) Total AuM of R$36 billion, up 25% year - over - year
44 VCP III 54% VCP IV 20% VCP II 15% VIR IV 7% Other 4% Private Equity AuM Breakdown by Flagship Private Equity R$15 bn AuM Fee Related Earnings (FRE) of R$16.8 million in the quarter. Excluding the non - recurring catch - up fees recognized in VCP IV in the 4Q’24, FRE would have grown 2% year - over - year VCP team continues sourcing new investment opportunities for Fund IV and pursuing exits across Funds II and III, as VIR team concentrates on structuring the next impact investing vintage, VIR V ∆ YoY (%) FY'25 FY'24 ∆ YoY (%) 4Q'25 3Q'25 4Q'24 (R$ THOUSANDS, UNLESS MENTIONED) (16)% 123,486 146,647 (34)% 30,395 31,087 45,711 Net revenue from management fees N/A – – N/A – – – Net revenue from advisory fees N/A – – N/A – – – Other revenues (16)% 123,486 146,647 (34)% 30,395 31,087 45,711 Total Fee Related Revenues 8% (4,868) (4,493) 4% (1,246) (1,276) (1,194) Segment personnel expenses 9% (3,511) (3,222) (29)% (617) (703) (873) Other G&A expenses (23)% (1,447) (1,870) (62)% (358) (359) (952) Placement fee amortization and rebates (4)% (24,695) (25,632) (8)% (6,122) (6,023) (6,645) Corporate center expenses (10)% (16,174) (18,010) (23)% (5,298) (3,743) (6,884) Bonus compensation related to management and advisory (5)% (50,694) (53,227) (18)% (13,640) (12,104) (16,547) Total Fee Related Expenses (22)% 72,792 93,421 (43)% 16,754 18,983 29,164 FEE RELATED EARNINGS (FRE) 58.9% 63.7% 55.1% 61.1% 63.8% FRE Margin (%) N/A – – N/A – – – Net revenue from performance fees N/A – – N/A – – – Realized performance fees N/A – – N/A – – – Unrealized performance fees N/A – – N/A – – – Performance based compensation N/A – – N/A – – – PERFORMANCE RELATED EARNINGS (PRE) N/A N/A N/A N/A N/A PRE Margin (%) 6,030% 1,900 31 N/A 147 61 – (+) Realized GP investment income (43)% 5,008 8,734 2,229% 18,493 (1,943) 794 (+) Unrealized GP investment income (21)% 6,908 8,765 2,247% 18,641 (1,882) 794 INVESTMENT RELATED EARNINGS (IRE) (43)% (5,008) (8,734) 2,229% (18,493) 1,943 (794) ( - ) Unrealized GP investment income N/A – – N/A – – – ( - ) Unrealized performance fees N/A – – N/A – – – (+) Unrealized performance compensation (20)% 74,693 93,452 (42)% 16,902 19,044 29,164 SEGMENT DISTRIBUTABLE EARNINGS 59.6% 63.7% 55.3% 61.1% 63.8% Segment DE Margin (%) (7)% 12,541 13,471 (7)% 12,541 12,607 13,471 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions ) 1.02% 1.27% 1.03% 1.05% 1.47% AVERAGE FEE RATE (%) Unrealized GP investment income of R$18.5 million, mostly from the IRE commitment in VCP IV. Portfolio companies from Fund IV have already started to appreciate, posting positive year - end markups
45 Brazil 69% Chile 22% Argentina 3% Global 3% Mexico 2% LatAm 1% Equities AuM Breakdown by Strategy Equities R$15 bn AuM Fee Related Earnings of R$4.6 million in the 4Q’25, up 19% YoY, supported by an increase of 19% in management fees following the business combination with Compass Realized performance fees grew year - over - year to R$1.7 million in the 4Q’25, driven by the positive performance of stock markets. A highlight was our funds in Chile, with two funds achieving top - quartile rankings ∆ YoY (%) FY'25 FY'24 ∆ YoY (%) 4Q'25 3Q'25 4Q'24 (R$ THOUSANDS, UNLESS MENTIONED) 27% 73,830 58,268 19% 19,252 17,098 16,150 Net revenue from management fees (100)% – 948 (100)% – – 948 Net revenue from advisory fees N/A – – N.A – – – Other revenues 25% 73,830 59,216 13% 19,252 17,098 17,098 Total Fee Related Revenues 120% (9,100) (4,138) 32% (2,200) (1,662) (1,671) Segment personnel expenses 111% (6,744) (3,199) (6)% (1,776) (1,349) (1,892) Other G&A expenses 445% (5,445) (998) 31% (1,305) (1,187) (998) Placement fee amortization and rebates 45% (21,972) (15,132) (4)% (5,350) (4,931) (5,600) Corporate center expenses 26% (11,917) (9,433) 31% (3,983) (2,771) (3,040) Bonus compensation related to management and advisory 68% (55,178) (32,900) 11% (14,614) (11,900) (13,201) Total Fee Related Expenses (29)% 18,652 26,317 19% 4,638 5,197 3,898 FEE RELATED EARNINGS (FRE) 25.3% 44.4% 24.1% 30.4% 22.8% FRE Margin (%) 62% 9,175 5,667 328,097% 1,697 2,412 1 Net revenue from performance fees 62% 9,175 5,667 328,097% 1,697 2,412 1 Realized performance fees N/A – – N/A – – – Unrealized performance fees 80% (4,566) (2,544) N/A (1,285) (1,069) 0 Performance based compensation 48% 4,609 3,121 45521% 412 1,343 1 PERFORMANCE RELATED EARNINGS (PRE) 50.2% 55.1% 24.3% 55.7% 174.5% PRE Margin (%) N/A 1,180 – N/A 1,180 – – (+) Realized GP investment income N/A 4,847 (4,684) (88)% (229) 1,285 (1,925) (+) Unrealized GP investment income N/A 6,026 (4,684) N/A 951 1,285 (1,925) INVESTMENT RELATED EARNINGS (IRE) N/A (4,847) 4,684 (88)% 229 (1,285) 1,925 ( - ) Unrealized GP investment income N/A – – N/A – – – ( - ) Unrealized performance fees N/A – – N/A – – – (+) Unrealized performance compensation (17)% 24,441 29,437 60% 6,229 6,540 3,898 SEGMENT DISTRIBUTABLE EARNINGS 29.0% 45.4% 29.7% 33.5% 22.8% Segment DE Margin (%) 10% 15,240 13,815 10% 15,240 14,494 13,815 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions ) 0.52% 0.60% 0.54% 0.48% 0.61% AVERAGE FEE RATE (%) Realized GP investment income of R$1.2 million in the 4Q’25, following the realization of a proprietary investment in one of Vinci Compass’ Brazilian funds
46 Infrastructure 44% Real Estate 43% Forestry 13% Real Assets AuM Breakdown by Strategy Real Assets Total AuM of R$15 billion, up 32% year - over - year R$15 bn AuM Fee Related Earnings of R$55.5 million in the FY’25, up 7% year - over - year, driven by higher Fee Related Revenues, including the catch - up fees from VICC’s final closing in the 2Q’25 and acquisition of Lacan in the 4Q’24. In the 4Q’25, Real Assets posted R$3.6 billion in capital formation and appreciation, including R$2.8 billion of committed capital from an institutional investor via an Infrastructure SMA. As capital is deployed, the SMA will be activated as Fee - Earning AuM ∆ YoY (%) FY'25 FY'24 ∆ YoY (%) 4Q'25 3Q'25 4Q'24 (R$ THOUSANDS, UNLESS MENTIONED) 20% 116,189 97,183 11% 28,294 28,934 25,552 Net revenue from management fees 0% 4,957 4,939 (76)% 468 2,167 1,976 Net revenue from advisory fees 212% 561 180 (100)% – 188 180 Other revenues 19% 121,707 102,302 4% 28,762 31,288 27,709 Total Fee Related Revenues 75% (11,818) (6,738) 17% (2,834) (2,944) (2,421) Segment personnel expenses 40% (8,151) (5,836) (49)% (1,389) (1,312) (2,732) Other G&A expenses 9% (838) (768) 14% (218) (207) (192) Placement Fee Amortization and Rebates 27% (26,700) (21,102) 30% (6,540) (6,518) (5,049) Corporate center expenses 17% (18,694) (15,932) (2)% (4,367) (5,415) (4,460) Bonus compensation related to management and advisory 31% (66,201) (50,378) 3% (15,348) (16,396) (14,855) Total Fee Related Expenses 7% 55,505 51,923 4% 13,414 14,892 12,854 FEE RELATED EARNINGS (FRE) 45.6% 50.8% 46.6% 47.6% 46.4% FRE Margin (%) (99)% 41 8,111 (100)% 39 1 7,794 Net revenue from performance fees (58)% 8,752 21,048 (100)% 39 1 17,248 Realized performance fees (33)% (8,711) (12,936) N/A – – (9,453) Unrealized performance fees (99)% (55) (4,602) (100)% (22) (1) (4,463) Performance based compensation N/A (14) 3,509 (100)% 16 1 3,331 PERFORMANCE RELATED EARNINGS (PRE) (33.5)% 43.3% 42.5% 55.8% 42.7% PRE Margin (%) (0)% 17,649 17,734 10% 2,811 2,654 2,554 (+) Realized GP investment income N/A 14,693 (12,080) 125% 17,642 137 7,835 (+) Unrealized GP investment income 472% 32,342 5,654 97% 20,453 2,791 10,390 INVESTMENT RELATED EARNINGS (IRE) N/A (14,693) 12,080 125% (17,642) (137) (7,835) ( - ) Unrealized GP investment income (33)% 8,711 12,937 (100)% – – 9,454 ( - ) Unrealized performance fees 166% (3,083) (1,159) (100)% – – 74 (+) Unrealized performance compensation (7)% 78,769 84,943 (43)% 16,241 17,547 28,268 SEGMENT DISTRIBUTABLE EARNINGS 53.2% 60.2% 51.4% 51.7% 59.5% Segment DE Margin (%) 10% 12,684 11,567 10% 12,684 11,976 11,567 FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions ) 1.02% 0.95% 0.99% 1.01% 1.01% AVERAGE FEE RATE (%)
47 Corporate Advisory Fee Related Earnings (FRE) and Segment Distributable Earnings totaled R$8.5 million in the FY’25 ∆ YoY (%) FY'25 FY'24 ∆ YoY (%) 4Q'25 3Q'25 4Q'24 (R$ THOUSANDS, UNLESS MENTIONED) N/A – – N/A – – – Net revenue from management fees (51)% 20,846 42,896 (65)% 6,837 5,332 19,390 Net revenue from advisory fees N/A – – N/A – – – Other revenues (51)% 20,846 42,896 (65)% 6,837 5,332 19,390 Total Fee Related Revenues 18% (2,789) (2,367) 21% (731) (793) (604) Segment personnel expenses 3% (659) (641) 33% (147) (94) (111) Other G&A expenses N/A – – N/A – – – Placement Fee Amortization and Rebates (13)% (3,820) (4,401) 4% (853) (1,063) (818) Corporate center expenses (63)% (5,054) (13,550) (83)% (1,042) (1,578) (5,999) Bonus compensation related to management and advisory (41)% (12,321) (20,959) (63)% (2,773) (3,528) (7,532) Total Fee Related Expenses (61)% 8,525 21,937 (66)% 4,064 1,804 11,858 FEE RELATED EARNINGS (FRE) 40.9% 51.1% 59.4% 33.8% 61.2% FRE Margin (%) (61)% 8,525 21,937 (66)% 4,064 1,804 11,858 SEGMENT DISTRIBUTABLE EARNINGS 40.9% 51.1% 59.4% 33.8% 61.2% Segment DE Margin (%) In an environment of high - interest rates and electoral uncertainties, M&A and debt structuring activity has been more subdued. Against this backdrop, Corporate Advisory team is working on an extensive pipeline of opportunities
48 Appendix – II Financial Statements
49 Financials - Income Statement ∆ YoY (%) FY'25 FY'24 ∆ YoY (%) 4Q'25 3Q'25 4Q'24 (R$ thousands, unless mentioned) REVENUES 67% 812,367 487,532 29% 219,730 201,539 170,193 Net revenue from management fees (25)% 27,706 37,188 (51)% 13,301 2,986 27,412 Net revenue from performance fees (27)% 36,418 50,126 (64)% 13,301 2,986 36,867 Realized performance fees (33)% (8,711) (12,937) N/A – – (9,454) Unrealized performance fees 35% 91,901 68,134 (62)% 15,444 25,384 40,328 Net revenue from advisory 473% 45,429 7,925 49% 11,819 11,404 7,925 Other revenues 63% 977,403 600,779 6% 260,294 241,313 245,858 Total net revenues from services rendered OPERATING EXPENSES 44% (133,342) (92,753) 2% (32,064) (36,407) (31,397) Bonus related to management and advisory (4)% (14,724) (15,349) (23)% (8,409) (1,282) (10,930) Performance based compensation 8% (17,807) (16,507) (23)% (8,409) (1,282) (10,855) Realized 166% 3,083 1,159 N/A – – (74) Unrealized 37% (148,067) (108,102) (4)% (40,474) (37,689) (42,327) Total compensation and benefits 113% (80,923) (38,026) 48% (21,981) (18,135) (14,895) Segment personnel expenses 92% (63,239) (32,868) 10% (16,200) (14,185) (14,728) Other general and administrative expenses 396% (78,795) (15,887) 43% (20,527) (19,461) (14,393) Placement fee amortization and rebates 125% (305,015) (135,660) 18% (75,796) (73,083) (64,006) Corporate center expenses 105% (676,039) (330,542) 16% (174,978) (162,553) (150,348) Total expenses 12% 301,364 270,237 (11)% 85,316 78,760 95,510 Operating profit OTHER GP AND FINANCIAL INCOME AND EXPENSES 333% 65,242 15,053 1,056% 45,124 5,048 3,903 Investment Related Earnings (IRE) 11% 28,305 25,435 48% 6,082 4,362 4,111 Realized gain from GP investment income N/A 36,937 (10,382) N/A 39,042 686 (208) Unrealized gain from GP investment income 28% 63,129 49,269 17% 12,024 14,878 10,308 Financial income 28% 63,129 49,269 17% 12,024 14,878 10,308 Realized gain from financial income N/A – – N/A – – – Unrealized gain from financial income 85% (15,369) (8,295) 118% (4,516) (3,373) (2,072) Leasing expenses 25% (101,870) (81,381) 42% (66,408) (25,839) (46,636) Other items¹ (29)% (1,067) (1,500) N/A 1,521 3,609 (1,500) Equity gain (loss) 33% (29,912) (22,479) 50% (9,814) (8,101) (6,524) Equity - based compensation 469% (13,599) (2,392) 49% (3,566) (3,692) (2,392) Management contract amortization² (90)% (5,883) (56,562) (88)% (4,877) (133) (39,827) Non - operational expenses³ (64)% (39,329) (108,287) (64)% (30,512) (17,603) (84,740) Total Other Items 62% 262,034 161,950 409% 54,804 61,157 10,770 Profit before income taxes (7)% (42,740) (45,977) (34)% (6,770) (12,598) (10,221) ( - ) Income taxes⁴ 89% 219,294 115,973 8,649% 48,034 48,559 549 NET INCOME (91)% 5,236 55,199 (88)% 4,453 133 38,560 (+) Non - operational expenses (including Income Tax effect) 72% 25,364 14,712 169% 33,603 10,753 12,487 ( - ) Contingent consideration adjustment related to acquisitions⁵ N/A 20,449 – N/A 20,449 – – (+) OCI adjustment⁶ 45% 270,344 185,884 106% 106,539 59,445 51,596 ADJUSTED NET INCOME 44% 270,550 188,113 100% 104,627 60,132 52,266 Atributable to the shareholders of the parent company (91)% (206) (2,229) N/A 1,912 (687) (670) Attributable to non - controlling interests See notes and definitions at end of document
50 Financials - Non - GAAP Reconciliation FY'25 FY'24 4Q'25 3Q'25 4Q'24 (R$ thousands, unless mentioned) 301,364 270,237 85,316 78,760 95,510 OPERATING PROFIT (36,418) (50,126) (13,301) (2,986) (36,867) ( - ) Net revenue from realized performance fees 8,711 12,937 – – 9,454 ( - ) Net revenue from unrealized performance fees 14,724 15,349 8,409 1,282 10,930 (+) Compensation allocated in relation to performance fees 288,381 248,397 80,424 77,056 79,028 FEE RELATED EARNINGS (FRE) 301,364 270,237 85,316 78,760 95,510 OPERATING PROFIT (812,367) (487,532) (219,730) (201,539) (170,193) ( - ) Net revenue from management fees (91,901) (68,134) (15,444) (25,384) (40,328) ( - ) Net revenue from advisory (45,429) (7,925) (11,819) (11,404) (7,925) ( - ) Other revenues 133,342 92,753 32,064 36,407 31,397 (+) Bonus related to management and advisory 80,923 38,026 21,981 18,135 14,895 (+) Personnel expenses 63,239 32,868 16,200 14,185 14,728 (+) Other general and administrative expenses 78,795 15,887 20,527 19,461 14,393 (+) Placement fee amortization and rebates 305,015 135,660 75,796 73,083 64,006 (+) Corporate center expenses 12,983 21,840 4,892 1,704 16,482 PERFORMANCE RELATED EARNINGS (PRE) 301,364 270,237 85,316 78,760 95,510 OPERATING PROFIT 8,711 12,937 – – 9,454 ( - ) Net revenue from unrealized performance fees (3,083) (1,159) – – 74 (+) Compensation allocated in relation to unrealized performance fees 28,305 25,435 6,082 4,362 4,111 (+) Realized gain from GP investment income 335,297 307,451 91,398 83,122 109,150 SEGMENT DISTRIBUTABLE EARNINGS 219,294 115,973 48,034 48,559 549 NET INCOME 8,711 12,937 – – 9,454 ( - ) Net revenue from unrealized performance fees (1,004) (377) – – 24 (+) Income tax from unrealized performance fees (3,083) (1,159) – – 74 (+) Compensation allocated in relation to unrealized performance fees (36,937) 10,382 (39,042) (686) 208 ( - ) Unrealized gain from GP investment income (1,514) (397) 271 193 127 (+) Income tax on unrealized gain from GP investment income – 0 – – – ( - ) Unrealized gain from financial income – – – – – (+) Income tax on unrealized gain from financial income 32,258 19,915 41,338 13,398 16,544 ( - ) Contingent consideration (earn - out) gain (loss)¹ (6,894) (5,203) (7,735) (2,645) (4,057) (+) Income tax on contingent consideration 26,116 11,064 6,182 7,453 5,028 (+) Depreciation and amortization 27,251 20,136 9,814 8,101 6,418 (+) Equity - based compensation (668) (914) (660) (262) (483) ( - ) Income Taxes on Equity - based compensation 1,067 1,500 (1,521) (3,609) 1,500 (+) Equity gain (loss) 4,882 – 2,425 2,457 – (+) Dividends received 5,236 55,199 4,453 133 38,560 (+) Non - operational expenses including income tax related to realized expense² 20,449 – 20,449 – – (+) OCI Adjustment³ (2,720) – (2,720) – – ( - ) Minority Interest 292,445 239,056 81,288 73,092 73,946 ADJUSTED DISTRIBUTABLE EARNINGS 977,403 600,779 260,294 241,313 245,858 TOTAL NET REVENUE FROM SERVICES RENDERED (36,418) (50,126) (13,301) (2,986) (36,867) ( - ) Net revenue from realized performance fees 8,711 12,937 – – 9,454 ( - ) Net revenue from unrealized performance fees 949,697 563,592 246,993 238,327 218,446 NET REVENUE FROM MANAGEMENT FEES AND ADVISORY See notes and definitions at end of document
51 Balance Sheet 12/31/2025 9/30/2025 Assets Current assets 280,091 215,934 Cash and cash equivalents 121,498 103,176 Cash and bank deposits 153,729 96,994 Financial instruments at fair value through profit or loss 4,864 15,764 Financial instruments at amortized cost 1,534,471 1,449,485 Financial instruments at fair value through profit or loss 214,706 197,409 Trade receivables - - Sub - leases receivable 20,010 14,062 Taxes recoverable 70,168 53,575 Other assets 2,119,446 1,930,465 Total current assets Non - current assets 151,615 134,809 Financial instruments at fair value through profit or loss 6,141 5,866 Financial instruments at amortized cost 17,518 14,923 Trade receivables - 3,500 Sub - leases receivable 1,225 3,478 Taxes recoverable 47,393 33,104 Deferred taxes 38,315 44,261 Other receivables 262,207 239,941 65,796 59,636 Investments accounted for using the equity method 43,999 - Judicial deposits 74,095 67,368 Property and equipment 141,226 127,911 Right of use - Leases 1,326,216 1,050,534 Intangible assets 1,913,539 1,545,390 Total non - current assets 4,032,985 3,475,855 Total Assets 12/31/2025 9/30/2025 Liabilities and equity Current liabilities 13,369 9,081 Trade payables – 11,217 Financial instruments at fair value through profit or loss – 15,002 Deferred Revenue 33,307 28,882 Leases 38,101 38,024 Accounts payable 199,422 128,508 Labor and social security obligations 93,862 32,384 Loans and Financing 35,047 26,054 Taxes and contributions payable 413,108 289,152 Total current liabilities Non - current liabilities 6 – Accounts payable 126,877 114,521 Leases 9,221 6,693 Labor and social security obligations 872,770 705,900 Loans and Financing 4,641 3,300 Deferred taxes 44,446 – Provision for contingencies 508,416 478,007 Retirement plans liabilities 1,566,377 1,308,421 1,979,485 1,597,573 Total liabilities Equity 19 18 Share capital 2,236,406 2,094,601 Additional paid - in capital (306,608) (306,608) Treasury shares 91,974 98,952 Retained Earnings (43,013) (6,198) Other reserves 1,978,778 1,880,765 74,722 (2,483) Non - controlling interests in the equity of subsidiaries 2,053,500 1,878,282 Total equity 4,032,985 3,475,855 Total liabilities and equity
52 Supplemental Details
53 11 % accretion in FRE per share for the combined company Ann. 1H’25 PF² Unit 320 304 16 R$ bn AuM 1,014 929 85 R$ mm Net Fee Related Revenues¹ 305 262 44 R$ mm FRE¹ 30% 28% 51% % FRE Margin¹ 4.60 4.14 - (R$/share) FRE per Share¹ 298 276 22 R$ mm Adj. Distributable Earnings¹ 4.48 4.36 - (R$/share) Adj. DE per share¹ Immediate +2 p.p. on FRE Margin Notes: ¹Considers 50.1% stake in Verde Asset Management; ²Proforma results for Verde represent annualized estimates post - transac tion. Unlocking Immediate Growth and Profitability with Verde Asset Management
54 See notes and definitions at end of document AuM¹ Rollforward Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 316,259 12,071 14,542 15,548 32,882 241,217 Beginning balance 2,528 2,742 – (57) (157) – (+/ - ) Capital Subscription / (capital return) 3,106 2,932 – – 174 – (+) Capital Subscription (578) (190) – (57) (331) – ( - ) Capital Return 15,594 – 621 – 516 14,458 (+) Acquisitions 5,309 (4) (1,295) – 2,049 4,559 (+/ - ) Net Inflow / Outflow 8,688 41 118 75 748 7,706 (+/ - ) FX Variation 5,731 626 1,301 (175) 428 3,552 (+/ - ) Appreciation / (depreciation) 354,108 15,476 15,286 15,390 36,464 271,492 Ending balance For the Three Months Ended December 31, 2025 Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 326,961 11,702 13,883 16,760 29,213 255,403 Beginning balance 3,036 2,224 – (231) 1,044 (2) (+/ - ) Capital Subscription / (capital return) 5,003 3,221 – 16 1,766 0 (+) Capital Subscription (1,968) (997) – (247) (722) (2) ( - ) Capital Return 15,594 – 621 – 516 14,458 (+) Acquisitions 8,911 (25) (3,496) – 5,338 7,094 (+/ - ) Net Inflow / Outflow (28,047) (132) (554) (335) (2,106) (24,920) (+/ - ) FX Variation 27,653 1,706 4,833 (805) 2,460 19,459 (+/ - ) Appreciation / (depreciation) 354,108 15,476 15,286 15,390 36,464 271,492 Ending balance For the Twelve Months Ended December 31, 2025
55 See notes and definitions at end of document Fee - Earning AuM¹ Rollforward Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 311,499 11,976 14,494 12,607 32,445 239,978 Beginning balance (146) 68 – (57) (157) – (+/ - ) Capital Subscription / (capital return) 433 259 – – 174 – (+) Capital Subscription (578) (190) – (57) (331) – ( - ) Capital Return 15,594 – 621 – 516 14,458 (+) Acquisitions 4,989 (4) (1,293) – 1,778 4,508 (+/ - ) Net Inflow / Outflow 8,654 41 118 75 735 7,686 (+/ - ) FX Variation 5,900 603 1,300 (84) 553 3,526 (+/ - ) Appreciation / (depreciation) 346,490 12,684 15,240 12,541 35,870 270,156 Ending balance For the Three Months Ended December 31, 2025 Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 321,397 11,567 13,815 13,471 28,540 254,004 Beginning balance 400 (420) – (212) 1,034 (2) (+/ - ) Capital Subscription / (capital return) 2,318 548 – 14 1,756 – (+) Capital Subscription (1,918) (968) – (227) (722) (2) ( - ) Capital Return 15,594 – 621 – 516 14,458 (+) Acquisitions 8,669 (25) (3,458) – 5,114 7,038 (+/ - ) Net Inflow / Outflow (27,934) (132) (550) (335) (2,056) (24,861) (+/ - ) FX Variation 28,365 1,694 4,812 (384) 2,723 19,519 (+/ - ) Appreciation / (depreciation) 346,490 12,684 15,240 12,541 35,870 270,156 Ending balance For the Twelve Months Ended December 31, 2025
56 Investment records – Credit and Equities Funds Hurdle Rate Market Comparison 24 M 12 M YTD 4Q’25 NAV¹ (R$ millions) Segment Fund or Strategy IPCA + Yield IMA - B IPCA + Yield IMA - B 20.6% 35.9% 35.9% 4.5% 280.2 Equities Vinci Total Return² IBOV IBOV 14.9% 34.0% 34.0% 5.1% 896.3 Equities Mosaico Strategy³ IBOV IBOV 19.6% 33.9% 33.9% 8.0% 335.9 Equities Vinci Gas Dividendos FIA N/A S&P/BMV IPC 31.7% 35.8% 35.8% 4.1% 179.9 Equities Compass CRECE+ N/A S&P MERVAL 215.7% 18.2% 18.2% 69.2% 398.8 Equities Compass Crecimiento N/A N/A 83.6% 67.7% 67.7% 15.6% 1,944.3 Equities Compass Small Cap Chile IPCA + 6% IPCA 15.5% 12.8% 12.8% 3.3% 678.0 Credit Vinci Crédito Imobiliário II IPCA + 6% IPCA 17.8% 13.9% 13.9% 3.0% 491.9 Credit Vinci Energia Sustentável IPCA + 5% CDI 24.2% 14.5% 14.5% 3.9% 295.6 Credit Vinci Crédito Multiestratégia N/A CEMBI Broad Div 18.2% 9.6% 9.6% 1.2% 5,585.3 Credit Compass Latam Corporate Debt Fund N/A CEMBI Broad Div HY 19.3% 7.2% 7.2% 1.5% 2,020.3 Credit Compass Latam High Yield USD N/A PIP Cetes 28D 21.6% 9.1% 9.1% 1.9% 2,996.4 Credit Compass I+LIQG N/A CDI 28.9% 15.3% 15.3% 3.5% 996.9 Credit Compass Credit Selection CDI CDI 29.5% 14.8% 14.8% 3.7% 1,905.5 Credit Compass Yield 30 N/A N/A 19.5% 8.2% 8.2% 1.2% 310.3 Credit Compass Deuda Plus N/A CEMBI Broad Div 9.1% 5.3% 5.3% 0.7% 764.7 Credit Compass Renta Fija - B See notes and definitions at end of document 24 M 12 M YTD 4Q’25 Benchmark 25.5% 12.5% 12.5% 2.7% IPCA 4 + Yield IMA - B 5 20.1% 34.0% 34.0% 10.2% IBOV 6 20.1% 35.1% 35.1% 3.5% S&P/BMV IPC 7 226.6% 20.4% 20.4% 72.1% S&P MERVAL 8 26.7% 14.3% 14.3% 3.6% CDI 9 9.3% 4.3% 4.3% 0.6% IPCA 18.4% 9.0% 9.0% 1.3% CEMBI Broad Div 10 21.1% 8.5% 8.5% 1.6% CEMBI Broad Div HY 11 21.3% 8.9% 8.9% 2.1% PIP Cetes 28D 12
57 Investment records – Global IP&S and Real Assets Funds See notes and definitions at end of document 24 M 12 M YTD 4Q’25 Benchmark 26.7% 14.3% 14.3% 3.6% CDI 2 18.5% 11.7% 11.7% 3.1% IMA - B 3 9.3% 4.3% 4.3% 0.6% IPCA 4 14.0% 21.1% 21.1% 5.2% IFIX 5 Hurdle Rate Market Comparison 24 M 12 M YTD 4Q’25 NAV¹ (R$ millions) Segment Fund or Strategy CDI CDI 22.4% 12.7% 12.7% 3.3% 43.5 Global IP&S Vinci Multiestratégia FIM CDI CDI 20.3% 10.4% 10.4% 2.9% 154.0 Global IP&S Atlas Strategy IMA - B IMA - B 19.7% 11.3% 11.3% 3.2% 736.7 Global IP&S Vinci Valorem FIM N/A IPCA 16.2% 8.8% 8.8% 2.8% 649.7 Global IP&S Equilibrio Strategy IMA - B IMA - B 15.8% 8.2% 8.2% 3.2% 88.7 Global IP&S Vinci Retorno Real FIM IPCA + 6% IFIX (11.8)% 23.4% 23.4% 0.8% 3,143.5 Real Assets (listed REIT) VISC11 IPCA + 6% IFIX 20.4% 47.3% 47.3% 14.9% 1,492.2 Real Assets (listed REIT) VILG11 IPCA + 6% IFIX (15.6)% 16.8% 16.8% 3.0% 418.2 Real Assets (listed REIT) VINO11 IPCA + 6% IFIX 0.7% 20.1% 20.1% 12.7% 166.5 Real Assets (listed REIT) VIUR11 IPCA + X% IFIX (12.3)% 26.8% 26.8% 4.9% 128.3 Real Assets (listed REIT) VCRI11 CDI + 1% IFIX 5.0% 3.8% 3.8% 0.5% 393.7 Real Assets (REIT) VICA11 IFIX IFIX - 17.8% 17.8% 5.3% 45.3 Real Assets (REIT) VINCI FOF IMOBILIARIO FIM CP N/A N/A (41.7)% 54.4% 54.4% 20.3% 390.4 Real Assets (listed REIT) VIGT11
58 See notes and definitions at end of document Investment records – Closed End funds Pro Forma Historical Portfolio Performance - Excluding PIPE Investments¹ Gross IRR Gross IRR Gross MOIC Gross MOIC Total Value Unrealized Realized or Partially Realized Invested Capital Committed Capital Vintage year Segment Fund (USD) (BRL) (USD) (BRL) (R$mm) (R$mm) (R$mm) (R$mm) (R$mm) 77.2% 71.5% 4.0x 4.3x 5,234 103 5,131 1,206 1,415 2004 Private Equity Fund 1 (0.2%) 8.2% 1.0x 1.9x 3,863 1,971 1,892 2,087 2,200 2011 Private Equity VCP II 24.0% 22.3% 2.1x 2.2x 5,547 5,245 302 2,563 4,000 2018 Private Equity VCP III 53.6% 54.6% 1.1x 1.1x 1,380 1,380 – 1,193 3,879 2022 Private Equity VCP IV 67.3% 64.5% 1.8x 2.2x 16,023 8,699 7,324 7,049 11,494 Private Equity VCP Strategy² 30.5% 22.0% 2.6x 2.1x 26 – 26 13 36 2003 Private Equity NE Empreendedor³ 13.6% 20.3% 1.8x 2.3x 313 81 232 135 240 2017 Private Equity Nordeste III 22.9% 21.2% 1.5x 1.3x 1,023 848 175 734 1,000 2020 Private Equity VIR IV 26.5% 21.3% 1.6x 1.6x 1,362 930 433 881 1,276 Private Equity VIR Strategy⁴ 19.1% 25.6% 2.1x 2.6x 377 22 355 205 128 2018 Credit SPS I 22.2% 22.4% 2.3x 2.3x 1,715 568 1,146 1,063 671 2020 Credit SPS II 22.0% 24.4% 2.7x 2.7x 2,377 1,506 872 1,708 1,071 2021 Credit SPS III 24.9% 23.5% 1.2x 1.2x 246 240 6 235 1,329 2025 Credit SPS IV 21.6% 23.6% 2.5x 2.6x 4,715 2,336 2,379 3,212 3,199 Credit SPS Strategy⁵ 20.0% 19.1% 1.5x 1.5x 245 75 169 165 165 2022 Credit MAV I 13.0% 19.2% 1.4x 1.3x 260 205 55 205 205 2023 Credit MAV II NM NM NM NM 156 146 10 96 220 2025 Credit MAV III 16.2% 19.1% 1.4x 1.4x 661 426 235 467 590 Credit MAV Strategy⁶ 2.7% 11.0% 1.2x 2.3x 577 322 255 253 253 2012 Real Assets Lacan Florestal I 6.2% 11.6% 1.5x 2.0x 714 589 125 356 356 2016 Real Assets Lacan Florestal II 7.2% 10.2% 1.2x 1.3x 551 551 – 415 502 2020 Real Assets Lacan Florestal III 11.4% 11.3% 1.1x 1.1x 232 232 – 216 221 2023 Real Assets Lacan Florestal IV 6.2% 12.6% 1.3x 1.7x 2,075 1,695 380 1,240 1,331 Real Assets Lacan Strategy⁷ 40.4% 55.6% 2.7x 3.6x 376 9 367 104 211 2017 Real Assets FIP Transmissão⁸ 13.3% 15.8% 1.4x 1.5x 512 512 – 350 386 2021 Real Assets VIAS⁹ NM NM 1.2x 1.1x 167 167 – 151 1,784 2022 Real Assets VICC¹⁰ 7.6% 10.2% 1.2x 1.2x 417 401 16 341 422 2021 Real Assets VFDL¹¹ NM NM 1.2x 1.2x 581 497 85 1,352 1,848 2022 Credit Vinci Credit Infra¹²
59 See notes and definitions at end of document Shareholder Dividends & Share Summary 4Q'25 3Q'25 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 1Q'24 ($ in thousands) 81,288 73,092 75,759 62,306 73,946 57,104 58,401 49,605 Adjusted Distributable Earnings (R$) 15,605 13,645 13,964 11,027 12,804 9,872 10,331 9,801 Adjusted Distributable Earnings (US$)¹ 0.24 0.22 0.22 0.17 0.20 0.19 0.19 0.18 Adjusted DE per Common Share (US$)² 0.17 0.15 0.15 0.15 0.15 0.16 0.17 0.17 Actual Dividend per Common Share³ 4Q'25 3Q'25 2Q'25 1Q'25 4Q'24 3Q'24 2Q'24 1Q'24 VINP Shares Shares Repurchased - - 173,762 683,148 607,643 374,834 220,135 533,981 # of Shares - - 9.47 10.07 10.28 10.38 10.82 10.64 Average Cost (US$/share) - - 1,645,210 6,879,698 6,246,577 3,890,849 2,382,251 5,681,558 Capital Deployed (US$) 14,466,239 14,466,239 14,466,239 14,466,239 14,466,239 14,466,239 14,466,239 14,466,239 Class B 50,955,859 48,778,420 48,778,420 48,896,968 49,580,116 38,404,375 38,779,209 38,778,597 Class A⁴ 65,422,098 63,244,659 63,244,659 63,363,207 64,046,355 52,870,614 53,245,448 53,244,836 Common Shares Vinci Compass generated R$1.24 or US$0.24 of Adjusted Distributable Earnings per common share for the 4Q’25. The company decl are d a quarterly dividend of US$0.17² per common share to record holders as of March 19, 2026; payable on April 2, 2026
60 Notes to page 13 (1) As of December 2025 ; Fund size for VCP IV does not consider potential co - investments . Notes to page 30 (1) FRE per share is calculated considering the number of outstanding shares at the end of the current quarter . (2) Adjusted Distributable Earnings is calculated as Distributable Earnings excluding non - operational expenses . (3) Adjusted DE per share is calculated considering the number of outstanding shares at the end of the current quarter . Notes to page 31 (1) FRE per share is calculated considering the number of outstanding shares at the end of the current quarter . Year - to - date values are calculated as the sum of the last three quarters . (2) Other items comprise the income/(loss) generated by financial income/(expenses) related to SPS acquisition, Ares Convertible Preferred Shares and other financial expenses . (3) Non - operational expenses are comprised of expenses related to professional services rendered in connection with acquisitions . (4) Minority interest comprises the portion of Verde Asset Management’s earnings attributable to the remaining 49 . 9 % non - controlling interest, following Vinci Compass’ acquisition of a controlling 50 . 1 % stake . As a result, Verde’s results are fully consolidated in Fee Related Earnings (FRE), and the non - controlling interest is deducted prior to arriving at Distributable Earnings (DE) and Adjusted Distributable Earnings (Adjusted DE) . (5) DE per share is calculated considering the number of outstanding shares at the end of the current quarter . Year - to - date values are calculated as the sum of the last three quarters . (6) Adjusted Distributable Earnings is calculated as Distributable Earnings excluding non - operational expenses . (7) Adjusted DE per share is calculated considering the number of outstanding shares at the end of the current quarter . Year - to - date values are calculated as the sum of the last three quarters . Notes to page 32 (1) AUM is calculated as consolidated with double counting, due to funds from one segment investing in other segments and it’s eliminated on consolidation and excluding double counting from co - managed funds between our segments . Considers assets under management and advisory . Notes to page 33 (1) The preferred return w/ catch - up rule applies to funds for which the vehicle must pay back its limited partners 100 % of the invested capital corrected by the preferred return rate so it can charge performance fees . Once the preferred return rate is achieved, due to the catch - up clause, performance fees are charged over the absolute return of the fund instead of the excess return over the preferred rate . (2) Hurdle Rate is the minimum return the fund must achieve before it can charge performance fees . In most cases, funds with hurdle rate also are under a high - water mark clause . (3) Funds with preferred return must return 100 % of invested capital corrected by the preferred return rate to its limited partners in order to charge performance fees . Notes and Definitions
61 Notes to page 38 (1) Cash and cash equivalents include cash on hand, bank deposits held with financial institutions, other short - term, highly liquid investments with original maturities of three months or less, that are readily convertible to known amounts of third - party and which are subject to an insignificant risk of changes in value . (2) Liquid funds’ value are calculated as investment at fair value as of December 31 , 2025 , in liquid funds from Vinci Compass’ Equities, Global IP&S, Credit and Real Estate . It also comprises the cash and certificate of deposits and federal bonds . For 1 Q’ 24 onwards we are not considering the funds that refer to financial products as part of the Company’s retirement plans services . For more detail, see 4 Q’ 25 Financial Statements filed within the SEC on March 04 , 2026 . (3) GP Fund Investments include Vinci Compass’ GP investments in private market funds and other closed - end funds across Equities and Global IP&S segments with long - term lockups and Public REITs, calculated at fair value as of December 31 , 2025 . For more detail, please see the Financial Statements filed within the SEC on March 04 , 2026 . (4) Debt obligations include commercial notes, consideration payable and convertible preferred shares . In addition to these debts, Vinci Compass also has obligations regarding earn - out structures and redemption liability from M&A transactions . For more detail, see 4 Q’ 25 Financial Statements filed within the SEC on March 04 , 2026 . (5) Net Cash and Investments per share were calculated considering the number of outstanding shares at the end of each quarter . Notes to page 42 (1) Upfront fees are one - time fees charged for TPD Alternative commitments . (2) Third - Party Distribution, or TPD, stands for the funds managed by third - party asset managers, distributed by Vinci Compass’ platform . (3) Other includes Pension Plans and Vinci Retirement Services . Notes to page 49 (1) Other items comprise the income/(loss) generated by contingent consideration adjustment and financial income/(expenses) related to acquisitions and Ares Convertible Preferred Shares . (2) Management contract amortization refers to the purchase price allocated to Fund’s Management Contracts and Customer relationships, as a result of the Business Combinations . These amounts are amortized based on the duration of the related funds . When a fund has an undefined useful life, the amount allocated to these intangible assets are subject to impairment test on annually basis, or whenever any specific economic or operational condition indicates its cost must be reviewed (3) Non - operational expenses are comprised of expenses related to professional services rendered in connection with acquisitions . (4) Income taxes are comprised of taxes calculated over our corporate income tax and social contribution taxes . We are taxed on an actual taxable profit regime, while part of our subsidiaries are taxed based on deemed profit . (5) Contingent consideration adjustment (after - tax) reflects the change in earn out’s fair value to be paid in stock, due to variation in the stock price in the period . (6) OCI comprises foreign exchange variations from the consolidation of subsidiaries whose functional currencies are not Brazilian reais, which are recognized directly in shareholders’ equity (other comprehensive income) and do not affect profit or loss . Notes and Definitions (cont’d)
62 Notes to page 50 (1) Contingent consideration adjustment (after - tax) reflects the change in earn out’s fair value to be paid in stock, due to variation in the stock price in the period . (2) Non - operational expenses are comprised of expenses related to professional services rendered in connection with acquisitions . (3) OCI comprises foreign exchange variations from the consolidation of subsidiaries whose functional currencies are not Brazilian reais, which are recognized directly in shareholders’ equity (other comprehensive income) and do not affect profit or loss . Notes to page 54 (1) AUM is calculated as consolidated with double counting, due to funds from one segment investing in other segments and it’s eliminated on consolidation and excluding double counting from co - managed funds between our segments . Considers assets under management and advisory . Notes to page 55 (1) FEAUM is measured as assets under management and advisory excluding funds that do not charge management or performance fees at any time, according to such funds’ policies . FEAUM is calculated as consolidated with double counting, due to funds from one segment investing in other segments and it’s eliminated on consolidation and excluding double counting from co - managed funds between our segments . Notes to page 56 (1) NAV is the net asset value of each fund . For listed vehicles, the NAV represents the Market valuation of the fund . (2) Total Return Strategy includes the funds Total Return FIC FIM and Total Return Institucional FIA . (3) Mosaico Strategy includes the funds Mosaico, Mosaico Institucional and Mosaico Advisory FIA . (4) IPCA is a broad consumer price index measured by the IBGE . ( 5 ) IMAB is composed by government bonds indexed to IPCA . IMAB 5 also includes government bonds indexed to IPCA with up to 5 Years in duration . ( 6 ) Brazil stock market most relevant index . ( 7 ) S&P/BMV IPC seeks to measure the performance of the largest and most liquid stocks listed on the Mexican Stock Market . ( 8 ) S&P MERVAL Index, Argentina’s flagship index, seeks to measure the performance of the largest, most liquid stocks trading on the Argentinian Stock Market . ( 9 ) CDI is an average of interbank overnight rates in Brazil (daily average for the period) . ( 10 ) CEMBI Broad Div tracks the performance of US dollar - denominated bonds issued by emerging market corporate entities . ( 11 ) The J . P . Morgan CEMBI Broad Diversified HY index tracks liquid, US Dollar emerging market fixed and floating - rate debt instruments issued by corporate, sovereign, and quasi - sovereign entities . ( 12 ) PiP Cetes 28 d is an index that invests in Cetes 28 - day securities . Cetes are Treasury Certificates issued by the Mexican government . Notes and Definitions (cont’d)
63 Notes to page 57 (1) NAV is the net asset value of each fund . For listed vehicles, the NAV represents the Market valuation of the fund . (2) CDI is an average of interbank overnight rates in Brazil (daily average for the period) . (3) IMAB is composed by government bonds indexed to IPCA . IMAB 5 also includes government bonds indexed to IPCA with up to 5 Years in duration . (4) IPCA is a broad consumer price index measured by the IBGE . (5) IFIX is an index composed by listed REITs in the Brazilian stock Market . Notes to page 58 (1) Track record information is presented throughout this presentation on a pro forma basis and in local currency, excluding PIPE investments, a strategy that will be discontinued in VCP III . (2) Committed capital for VCP III and VCP IV consider amounts of co - investments . Returns, however, consider only the amounts invested to the main funds . Track record presented for the VCP strategy as of 3 Q’ 25 , due to fund’s administrator timeline to disclose the quarterly markup of the fund . (3) Performance information for Nordeste Empreendedor (“NE I”) comprises only the four (out of seven) investments invested, managed and divested by a team led by Jose Pano (collectively, the ‘”Participating Investments”) while they were employed by NE I’s manager (the “NE I Manager”), an entity not affiliated with the manager or Vinci Compass . Information herein pertaining to any investments made by NE I manager has not been prepared by NE I manager and NE I manager assumes no responsibility for the accuracy or completeness of any such information . (4) Track record for VIR strategy is presented as of 3 Q’ 25 , due to fund’s administrator timeline to disclose the quarterly markup of the fund . (5) Track record for Vinci SPS strategy is presented as of 4 Q’ 25 . (6) Track record for MAV strategy is presented as of 4 Q’ 25 . (7) Track record for Lacan strategy is presented as of 4 Q’ 25 . (8) Track record for FIP Infra is presented as of 3 Q’ 25 , due to fund’s administrator timeline to disclose the quarterly markup of the fund . (9) Track record for VIAS is presented as of 3 Q’ 25 , due to fund’s administrator timeline to disclose the quarterly markup of the fund . (10) Total commitments for VICC are presented as of 3 Q’ 25 , due to fund’s administrator timeline to disclose the quarterly markup of the fund . (11) Track record for VFDL is presented as of 4 Q’ 25 . (12) Track record for Vinci Credit Infra is presented as of 4 Q’ 25 . Notes to page 59 (1) US $ Distributable Earnings was calculated considering the exchange rate from USD to BRL of 5 . 2091 , as of March 04 , 2026 , when dividends were approved by our Board of Directors . (2) Per Share calculations are based on end of period Participating Common Shares . (3) Actual dividends per common share are calculated considering the share count as of the applicable record date . (4) As of December 31 , 2025 , Public Float was comprised of 14 , 178 , 234 Class A common shares . Notes and Definitions (cont’d)
64 • “Fee related earnings”, or “FRE”, is a metric to monitor the baseline performance of, and trends in, our business, in a manner that does not include performance fees, investment income and expenses that do not arise from our normal course of operations . FRE is calculated as operating profit, less (a) net revenue from realized performance fees, less (b) net revenue from unrealized performance fees, plus (c) share - based payments plus (d) compensation allocated in relation to performance fees plus (e) expenses relating to professional services rendered in connection with acquisitions, our business combination with Compass and our international corporate organization (which expenses were added to the calculation of FRE beginning in the year ended December 31 , 2022 to ensure the metric’s usefulness as a tool to assess our ability to generate profits from revenues and expenses arising out of our normal course of operations) plus (f) the amortization of fund management contracts related to business combinations (which expenses were added to the calculation of FRE beginning in the year ended December 31 , 2024 in order to exclude depreciation expenses that are tied to specific acquisition transactions rather than our ongoing operations ; these amounts became meaningful only upon completion of the business combination with Compass and consequently we do not present such amounts for periods prior to 2024 ) . • “FRE Margin” is calculated as FRE divided by the sum of net revenue from management fees, net revenue from advisory services and net revenue from other revenues . • “Distributable Earnings”, or “DE”, is used as a reference by our board of directors to assess our performance and capabilities to distribute dividends to our shareholders . Distributable Earnings is calculated as profit for the year, less (a) net revenue from unrealized performance fees, plus (b) income taxes from unrealized performance fees, plus (c) compensation allocated in relation to unrealized performance fees, less (d) equity gain or loss on investments accounted for using the equity method, less (e) unrealized gain from investment income, plus (f) income taxes on unrealized gain from investment income, plus (g) share - based payments, less (h) income taxes on share - based payments, plus (i) depreciation and amortization, except for amortization of placement agent expenses and amortization related to retirement services investments, less (j) contingent consideration (earn - out) gain (loss) (after tax) . • “DE Margin” is calculated as Distributable Earnings divided by sum of net revenue from management fees, net revenue from performance fees, net revenue from advisory services, net revenue from other revenues and realized gain from investment income . • “Performance Related Earnings”, or “PRE”, is a performance measure that we use to assess our ability to generate profits from revenue that relies on outcomes from funds above their respective hurdle rates . We calculate PRE as operating profit less (a) net revenue from management fees, less (b) net revenue from advisory services, less (c) net revenue from other revenues plus (d) personnel and profit - sharing expenses, plus (e) other general and administrative expenses, less (f) compensation in relation to performance fees . • “PRE Margin” is calculated as PRE divided by net revenue from performance fees . • “Adjusted Distributable Earnings”, or “Adjusted DE”, is used as a reference point by our board of directors for determining the amount of earnings available to distribute to shareholders as dividends . Adjusted Distributable Earnings is calculated as Distributable Earnings, plus expenses relating to professional services rendered in connection with acquisitions, our business combination with Compass and our international corporate organization (including income tax related to realized expense) . • “Segment Distributable Earnings” is Vinci Compass’ segment profitability measure used to make operating decisions and assess performance across the company’s five segments (Private Equity, Global Investment Products and Solutions, Credit, Equities, Real Assets and Corporate Advisory) . Segment Distributable Earnings is calculated as operating profit less (a) net revenue from unrealized performance fees, plus (b) compensation allocated in relation to unrealized performance fees, plus (c) realized gain from GP investment income . Notes and Definitions (cont’d)
65 • “AUM” refers to assets under management and advisory . Our AUM equals the sum of : ( 1 ) the fair market value of all funds and accounts under management and advisory by Vinci Compass, across Global IP&S, Credit, Private Equity, Equities, and Real Assets ; ( 2 ) the capital that we are entitled to call from investors in funds pursuant to the terms of their capital commitments to those funds ; and ( 3 ) the fair market value of co - investments arranged by us that were made, or could be made, by limited partners of our corporate private equity funds and portfolio companies of such funds . As a significant portion of our AUM is denominated in currencies other than Brazilian Reais, fluctuations in foreign exchange rates may cause our reported AUM to vary over time, independently of underlying asset or commitment changes . AUM includes double counting related to funds from one segment that invest in funds from another segment . Those cases occur mainly due to (a) fund, of funds of investment products and solutions segment, and (b) investment funds in general that invest part of their cash in credit segment and hedge fund segment funds in order to maintain liquidity and provide for returns on cash . Such amounts are eliminated on consolidation . The bylaws of the relevant funds prohibit double - charging fees on AUM across segments . Therefore, while our AUM by segment may double - count funds from one segment that invest in funds from another segment, the revenues for any given segment do not include revenue in respect of assets managed by another segment, which means there are no intercompany eliminations on revenues in our results of operations . • Net Cash and Investments include cash and cash equivalents and the fair value of investments in liquid funds and GP Fund Investments . Cash and cash equivalents include cash, certificate of deposits, which are issued by Banco Bradesco (credit rating AAA evaluated by Fitch Ratings) with interest rates from 99 . 5 % to 101 % of CDI . • “Total Fee Related Revenues” is a measure that we use to assess our ability to generate profits from our business without measuring for the outcomes from funds above their respective benchmarks . We calculate Total Fee Related Revenues as net revenue from services rendered less (a) net revenue from realized performance fees and less (b) net revenue from unrealized performance fees . • “Total compensation and benefits” is the result of the profit sharing paid to our employees as (a) bonus compensation related to management and advisory and (b) performance - based compensation . • “Segment personnel expenses” are composed of the salary - part compensation paid to employees and partners of our funds’ management teams . • “Corporate center expenses” are composed by the salary - compensation paid to employees and other general and administrative expenses related to our support teams, such as research, risk, legal & compliance, investor relations, operations and ESG . • “Other general and administrative expenses” is made up of third - party expenses, depreciation and amortization, travel and representation, marketing expenses, administrative fees, non - operating taxes, third - party consultants’ fees, such as legal and accounting, and office consumables . • “Placement fee amortization and rebates” reflects fees paid to distributors that, due to accounting procedures, are not deducted from net management fees, unlike certain other distributor fees that directly impact that line . • “GP investment income” is income from proprietary investments made by us in our own Private Markets’ funds, used as GP Commitments . • “Financial income” is income generated through the investments made with our cash and cash equivalents in cash and bank deposits, certificate of deposits and proprietary investments in our liquid funds from our Equities and Global IP&S segments . • “Leasing expenses” include costs from the company’s sub - leasing activities . • “Income taxes” is comprised of taxes on our corporate income tax and social contribution taxes . We are taxed on an actual taxable profit regime, while our subsidiaries are taxed based on deemed profit . Notes and Definitions (cont’d)
66 • “Capital Subscription / (capital return)” represents the net capital commitments and capital returns from our Private Markets’ closed end and listed funds . • “Net Inflows / (outflows)” represent the net inflows and outflows from our liquid funds from our Equities, Global IP&S and Credit segments . • “Appreciation / (depreciation)” represents the net capital appreciation/depreciation from our funds, which refers to the increase or decrease of the funds’ investment’s value . • “MOIC” means multiple on invested capital, a ratio intended to represent how much value an investment has returned, and is calculated as realized value plus unrealized value, divided by the total amount invested, gross of expenses and fees . • “IRR” means the internal rate of return, which is a discount rate that makes the net present value of all cash flows equal to zero in a discounted cash flow analysis . Notes and Definitions (cont’d)
67