Vinci Compass Investments Ltd 6-K, filed Mar 5, 2026

Vinci Compass Investments Ltd. (VINP)

6-K 2026-03-05 For: 2026-03-04

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Added on April 07, 2026

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Vinci Compass Investments Ltd filed this 6-K on March 5, 2026.

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EXHIBIT
99.1	Press release dated March 4, 2026 – Vinci Compass Reports Fourth Quarter and Full Year 2025 Earnings Results
99.2	Vinci Compass Fourth Quarter and Full Year 2025 Earnings Release
99.3	Vinci Compass Fourth Quarter and Full Year 2025 Earnings Presentation
99.4	Vinci Compass Investments Ltd. Consolidated Financial Statements as of December 31, 2025 and 2024 and For the Years Ended December 31, 2025, 2024 and 2023

Vinci Compass Investments Ltd.


By:	/s/ Sergio Passos Ribeiro
	Name:	Sergio Passos Ribeiro
	Title:	Chief Financial Officer

(R$ thousands, unless mentioned)	4Q'24	3Q'25	4Q'25	∆ YoY(%)	FY'24	FY'25	∆ YoY(%)
Net revenue from management fees	170,193	201,539	219,730	29%	487,532	812,367	67%
Net revenue from advisory fees	40,328	25,384	15,444	(62)%	68,134	91,901	35%
Other revenues	7,925	11,404	11,819	49%	7,925	45,429	473%
Total Fee Related Revenues^[i]	218,446	238,327	246,993	13%	563,591	949,697	69%
Segment personnel expenses	(14,895)	(18,135)	(21,981)	48%	(38,027)	(80,923)	113%
Other G&A expenses	(14,728)	(14,185)	(16,200)	10%	(32,868)	(63,239)	92%
Placement fee amortization and rebates	(14,393)	(19,461)	(20,527)	43%	(15,887)	(78,795)	396%
Corporate center expenses	(64,006)	(73,083)	(75,796)	18%	(135,660)	(305,015)	125%
Bonus compensation related to management and advisory	(31,397)	(36,407)	(32,064)	2%	(92,753)	(133,342)	44%
Total Fee Related Expenses	(139,418)	(161,271)	(166,569)	19%	(315,194)	(661,316)	110%
FEE RELATED EARNINGS (FRE)^[ii]	79,028	77,056	80,424	2%	248,397	288,381	16%
FRE Margin^[iii] (%)	36.2%	32.3%	32.6%		44.1%	30.4%
FRE per share^[iv] (R$/share)	1.23	1.22	1.23	(0)%	4.42	4.52	2%
Net revenue from performance fees	27,412	2,986	13,301	(51)%	37,188	27,706	(25)%
Performance based compensation	(10,930)	(1,282)	(8,409)	(23)%	(15,349)	(14,724)	(4)%
PERFORMANCE RELATED EARNINGS (PRE)^[v]	16,482	1,704	4,892	(70)%	21,840	12,983	(41)%
PRE Margin^[vi] (%)	60.1%	57.1%	36.8%		58.7%	46.9%
(+) Realized GP investment income	4,111	4,362	6,082	48%	25,435	28,305	11%
(+) Unrealized GP investment income	(208)	686	39,042	N/A	(10,382)	36,937	N/A
INVESTMENT RELATED EARNINGS (IRE)	3,903	5,048	45,124	1,056%	15,053	65,242	333%
(-) Unrealized performance fees	9,454	–	–	N/A	12,937	8,711	(33)%
(+) Unrealized performance compensation	74	–	–	N/A	(1,159)	(3,083)	166%
(-) Unrealized GP investment income	208	(686)	(39,042)	N/A	10,382	(36,937)	N/A
SEGMENT DISTRIBUTABLE EARNINGS^[vii]	109,150	83,122	91,398	(16)%	307,451	335,297	9%
Segment DE Margin (%)	42.1%	33.8%	34.3%		48.1%	33.1%
(+) Depreciation and amortization	2,636	3,761	2,616	(1)%	8,672	12,517	44%
(+) Realized financial income	10,308	14,878	12,024	17%	49,269	63,129	28%
(-) Leasing expenses	(2,072)	(3,373)	(4,516)	118%	(8,295)	(15,369)	85%
(-) Other items^[viii]	(30,198)	(9,984)	(2,196)	(93)%	(63,809)	(46,942)	(26)%
(-) Non-operational expenses^[ix]	(39,827)	(133)	(4,877)	(88)%	(56,562)	(5,883)	(90)%
(-) Income taxes (excluding related to unrealized fees and income)	(14,610)	(15,312)	(14,894)	2%	(52,868)	(52,820)	(0)%
(-) Minority Interest^[x]	–	–	(2,720)	N/A	–	(2,720)	N/A
DISTRIBUTABLE EARNINGS (DE)^[xi]	35,386	72,959	76,835	117%	183,857	287,209	56%
DE Margin^[xii] (%)	13.1%	28.0%	27.6%		26.7%	26.7%
DE per share (R$/share)	0.55	1.15	1.17	113%	3.35	4.50	34%
(+) Nonrecurring expenses (including Income Tax effect)	38,560	133	4,453	(88)%	55,199	5,236	(91)%
ADJUSTED DISTRIBUTABLE EARNINGS^[xiii]	73,946	73,092	81,288	10%	239,056	292,445	22%
Adjusted DE Margin^[xiv] (%)	27.4%	28.1%	29.2%		34.7%	27.1%
Adjusted DE per share^[xv] (R$/share)	1.15	1.16	1.24	8%	4.26	4.58	7%

(R$ thousands, unless mentioned)	4Q'24	3Q'25	4Q'25	∆ YoY (%)	FY'24	FY'25	∆ YoY (%)
Net revenue from management fees	43,857	63,956	77,943	78%	101,945	267,214	162%
Net revenue from advisory fees	17,988	17,886	5,755	(68)%	19,045	63,714	235%
Other revenues	7,745	11,216	11,819	53%	7,745	44,869	479%
Total Fee Related Revenues	69,590	93,058	95,516	37%	128,737	375,797	192%
Segment personnel expenses	(4,036)	(5,265)	(7,467)	85%	(10,798)	(24,871)	130%
Other G&A expenses	(6,330)	(7,759)	(9,238)	46%	(14,867)	(32,423)	118%
Placement fee amortization and rebates	(6,633)	(9,964)	(10,669)	61%	(6,633)	(39,755)	499%
Corporate center expenses	(32,747)	(38,349)	(38,451)	17%	(46,068)	(158,817)	245%
Bonus compensation related to management and advisory	(5,729)	(16,101)	(9,703)	69%	(21,397)	(50,821)	138%
Total Fee Related Expenses	(55,474)	(77,438)	(75,528)	36%	(99,762)	(306,687)	207%
FEE RELATED EARNINGS (FRE)	14,116	15,620	19,988	42%	28,974	69,110	139%
FRE Margin (%)	20.3%	16.8%	20.9%		22.5%	18.4%
Net revenue from performance fees	14,636	211	6,856	(53)%	15,006	8,897	(41)%
Realized performance fees	14,636	211	6,856	(53)%	15,006	8,897	(41)%
Unrealized performance fees	–	–	–	N/A	–	–	N/A
Performance based compensation	(4,619)	(60)	(4,454)	(4)%	(4,838)	(5,342)	10%
PERFORMANCE RELATED EARNINGS (PRE)	10,017	151	2,402	(76)%	10,169	3,555	(65)%
PRE Margin (%)	68.4%	71.6%	35.0%		67.8%	40.0%
(+) Realized GP investment income	9	–	272	2,860%	493	964	96%
(+) Unrealized GP investment income	2,057	565	586	(72)%	5,499	462	(92)%
INVESTMENT RELATED EARNINGS (IRE)	2,067	565	858	(58)%	5,993	1,426	(76)%
(-) Unrealized GP investment income	(2,057)	(565)	(586)	(72)%	(5,499)	(462)	(92)%
(-) Unrealized performance fees	–	–	–	N/A	–	–	N/A
(+) Unrealized performance compensation	–	–	–	N/A	–	–	N/A
SEGMENT DISTRIBUTABLE EARNINGS	24,142	15,771	22,662	(6)%	39,637	73,630	86%
Segment DE Margin (%)	28.7%	16.9%	22.1%		27.5%	19.1%

FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions)	254,004	239,978	270,156	6%	254,004	270,156	6%
AVERAGE FEE RATE (%)	0.20%	0.13%	0.15%		0.25%	0.13%
FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM R$millions) EX-UPFRONTS⁴	193,984	191,957	220,403	14%	193,984	220,403	14%
AVERAGE FEE RATE (%) EX-UPFRONTS	0.20%	0.16%	0.18%		0.25%	0.17%

(R$ thousands, unless mentioned)	4Q'24	3Q'25	4Q'25	∆ YoY (%)	FY'24	FY'25	∆ YoY (%)
Net revenue from management fees	38,923	60,464	63,846	64%	83,489	231,647	177%
Net revenue from advisory fees	25	–	2,384	9,556%	305	2,384	682%
Other revenues	–	–	–	N/A	–	–	N/A
Total Fee Related Revenues	38,947	60,464	66,230	70%	83,792	234,031	179%
Segment personnel expenses	(4,970)	(6,195)	(7,503)	51%	(9,494)	(27,477)	189%
Other G&A expenses	(2,790)	(2,968)	(3,034)	9%	(5,103)	(11,753)	130%
Placement fee amortization and rebates	(5,616)	(7,744)	(7,977)	42%	(5,616)	(31,310)	457%
Corporate center expenses	(13,147)	(16,200)	(18,481)	41%	(23,324)	(69,011)	196%
Bonus compensation related to management and advisory	(5,285)	(6,798)	(7,671)	45%	(14,430)	(30,682)	113%
Total Fee Related Expenses	(31,808)	(39,905)	(44,666)	40%	(57,967)	(170,234)	194%
FEE RELATED EARNINGS (FRE)	7,139	20,559	21,565	202%	25,826	63,797	147%
FRE Margin (%)	18.3%	34.0%	32.6%		30.8%	27.3%
Net revenue from performance fees	4,980	362	4,710	(5)%	8,403	9,594	14%
Realized performance fees	4,980	362	4,710	(5)%	8,403	9,594	14%
Unrealized performance fees	–	–	–	N/A	–	–	N/A
Performance based compensation	(1,848)	(152)	(2,647)	43%	(3,365)	(4,760)	41%
PERFORMANCE RELATED EARNINGS (PRE)	3,132	210	2,063	(34)%	5,040	4,833	(4)%
PRE Margin (%)	62.9%	57.9%	43.8%		60.0%	50.4%
(+) Realized GP investment income	1,548	1,647	1,672	8%	7,177	6,612	(8)%
(+) Unrealized GP investment income	(8,970)	642	2,549	N/A	(7,851)	11,927	N/A
INVESTMENT RELATED EARNINGS (IRE)	(7,422)	2,289	4,221	N/A	(674)	18,538	N/A
(-) Unrealized GP investment income	8,970	(642)	(2,549)	N/A	7,851	(11,927)	N/A
(-) Unrealized performance fees	–	–	–	–	–	–	N/A
(+) Unrealized performance compensation	–	–	–	–	–	–	N/A
SEGMENT DISTRIBUTABLE EARNINGS	11,819	22,416	25,300	114%	38,044	75,242	98%
Segment DE Margin (%)	26.0%	35.9%	34.8%		38.3%	30.1%

FEE EARNING ASSETS UNDER MANAGEMENT (FEAUM)	28,540	32,445	35,870	26%	28,540	35,870	26%
AVERAGE MANAGEMENT FEE RATE (%)	0.80%	0.80%	0.76%		0.83%	0.77%

	For the Three Months Ended December 31, 2025
In R$ millions	Global IP&S	Credit	Private Equity	Equities	Real Assets	Total
Beginning balance	241,217	32,882	15,548	14,542	12,071	316,259
(+/-) Capital Subscription / (capital return)	–	(157)	(57)	–	2,742	2,528
(+) Capital Subscription	–	174	–	–	2,932	3,106
(-) Capital Return	–	(331)	(57)	–	(190)	(578)
(+) Acquisitions	14,458	516	–	621	–	15,594
(+/-) Net Inflow / (outflow)	4,559	2,049	–	(1,295)	(4)	5,309
(+/-) FX Variation	7,706	748	75	118	41	8,688
(+/-) Appreciation / (depreciation)	3,552	428	(175)	1,301	626	5,731
Ending balance	271,492	36,464	15,390	15,286	15,476	354,108

	For the Twelve Months Ended December 31, 2025
In R$ millions	Global IP&S	Credit	Private Equity	Equities	Real Assets	Total
Beginning balance	255,403	29,213	16,760	13,883	11,702	326,961
(+/-) Capital Subscription / (capital return)	(2)	1,044	(231)	–	2,224	3,036
(+) Capital Subscription	0	1,766	16	–	3,221	5,003
(-) Capital Return	(2)	(722)	(247)	–	(997)	(1,968)
(+) Acquisitions	14,458	516	–	621	–	15,594
(+/-) Net Inflow / (outflow)	7,094	5,338	–	(3,496)	(25)	8,911
(+/-) FX Variation	(24,920)	(2,106)	(335)	(554)	(132)	(28,047)
(+/-) Appreciation / (depreciation)	19,459	2,460	(805)	4,833	1,706	27,653
Ending balance	271,492	36,464	15,390	15,286	15,476	354,108

Fund	Segment	NAV^[xvi] (R$ millions)	4Q'25	YTD	12 M	24 M	Market Comparison	Index Rate
Vinci Total Return	Equities	280.2	4.5%	35.9%	35.9%	20.6%	IPCA + Yield IMA-B	IPCA + Yield IMA-B
Mosaico Strategy	Equities	896.3	5.1%	34.0%	34.0%	14.9%	IBOV	IBOV
Vinci Gas Dividendos FIA	Equities	335.9	8.0%	33.9%	33.9%	19.6%	IBOV	IBOV
Compass CRECE+	Equities	179.9	4.1%	35.8%	35.8%	31.7%	S&P/BMV IPC	N/A
Compass Crecimiento	Equities	398.8	69.2%	18.2%	18.2%	215.7%	S&P MERVAL	N/A
Compass Small Cap Chile	Equities	1,944.3	15.6%	67.7%	67.7%	83.6%	N/A	N/A
Vinci Crédito Imobiliário II	Credit	678.0	3.3%	12.8%	12.8%	15.5%	IPCA	IPCA + 6%
Vinci Energia Sustentável	Credit	491.9	3.0%	13.9%	13.9%	17.8%	IPCA	IPCA + 6%
Vinci Crédito Multiestratégia	Credit	295.6	3.9%	14.5%	14.5%	24.2%	CDI	IPCA + 5%
Compass Latam Corporate Debt Fund	Credit	5,585.3	1.2%	9.6%	9.6%	18.2%	CEMBI Broad Div	N/A
Compass Latam High Yield USD	Credit	2,020.3	1.5%	7.2%	7.2%	19.3%	CEMBI Broad Div HY	N/A
Compass I+LIQG	Credit	2,996.4	1.9%	9.1%	9.1%	21.6%	PIP Cetes 28D	N/A
Compass Credit Selection	Credit	996.9	3.5%	15.3%	15.3%	28.9%	CDI	N/A
Compass Yield 30	Credit	1,905.5	3.7%	14.8%	14.8%	29.5%	CDI	CDI
Compass Deuda Plus	Credit	310.3	1.2%	8.2%	8.2%	19.5%	N/A	N/A
Compass Renta Fija-B	Credit	764.7	0.7%	5.3%	5.3%	9.1%	CEMBI Broad Div	N/A
Vinci Multiestratégia FIM	Global IP&S	43.5	3.3%	12.7%	12.7%	22.4%	CDI	CDI
Atlas Strategy	Global IP&S	154.0	2.9%	10.4%	10.4%	20.3%	CDI	CDI
Vinci Valorem FIM	Global IP&S	736.7	3.2%	11.3%	11.3%	19.7%	IMA-B	IMA-B
Equilibrio Strategy	Global IP&S	649.7	2.8%	8.8%	8.8%	16.2%	IPCA	N/A
Vinci Retorno Real FIM	Global IP&S	88.7	3.2%	8.2%	8.2%	15.8%	IMA-B	IMA-B
VISC11	Real Assets (listed REIT)	3,143.5	0.8%	23.4%	23.4%	(11.8)%	IFIX	IPCA + 6%
VILG11	Real Assets (listed REIT)	1,492.2	14.9%	47.3%	47.3%	20.4%	IFIX	IPCA + 6%
VINO11	Real Assets (listed REIT)	418.2	3.0%	16.8%	16.8%	(15.6)%	IFIX	IPCA + 6%
VIUR11	Real Assets (listed REIT)	166.5	12.7%	20.1%	20.1%	0.7%	IFIX	IPCA + 6%
VCRI11	Real Assets (listed REIT)	128.3	4.9%	26.8%	26.8%	(12.3)%	IFIX	IPCA + X%
VICA11	Real Assets (REIT)	393.7	0.5%	3.8%	3.8%	5.0%	IFIX	CDI + 1%
VINCI FOF IMOBILIARIO FIM CP	Real Assets (REIT)	45.3	5.3%	17.8%	17.8%	-	IFIX	IFIX
VIGT11	Real Assets (listed REIT)	390.4	20.3%	54.4%	54.4%	(41.7)%	N/A	N/A

Benchmark	4Q'25	YTD	12 M	24 M
CDI^[xvii]	3.6%	14.3%	14.3%	26.7%
IMA-B 5^[xviii]	3.1%	11.7%	11.7%	18.5%
IPCA^[xix]	0.6%	4.3%	4.3%	9.3%
IFIX^[xx]	5.2%	21.1%	21.1%	14.0%
IPCA + Yield IMA-B	2.7%	12.5%	12.5%	25.5%
IBOV^[xxi]	10.2%	34.0%	34.0%	20.1%
S&P/BMV IPC^[xxii]	3.5%	35.1%	35.1%	20.1%
S&P MERVAL^[xxiii]	72.1%	20.4%	20.4%	226.6%
CEMBI Broad Div^[xxiv]	1.3%	9.0%	9.0%	18.4%
CEMBI Broad Div HY^[xxv]	1.6%	8.5%	8.5%	21.1%
PIP Cetes 28D^[xxvi]	2.1%	8.9%	8.9%	21.3%

Fund	Segment	Vintage year	Committed Capital (R$mm)	Invested Capital (R$mm)	Realized or Partially Realized (R$mm)	Unrealized (R$mm)	Total Value (R$mm)	Gross MOIC^[xxviii] (BRL)	Gross MOIC (USD)	Gross IRR^[xxix] (BRL)	Gross IRR (USD)
Fund 1	Private Equity	2004	1,415	1,206	5,131	103	5,234	4.3x	4.0x	71.5%	77.2%
VCP II	Private Equity	2011	2,200	2,087	1,892	1,971	3,863	1.9x	1.0x	8.2%	(0.2%)
VCP III	Private Equity	2018	4,000	2,563	302	5,245	5,547	2.2x	2.1x	22.3%	24.0%
VCP IV	Private Equity	2022	3,879	1,193	–	1,380	1,380	1.1x	1.1x	54.6%	53.6%
VCP Strategy^[xxx]	Private Equity		11,494	7,049	7,324	8,699	16,023	2.2x	1.8x	64.5%	67.3%
NE Empreendedor^[xxxi]	Private Equity	2003	36	13	26	–	26	2.1x	2.6x	22.0%	30.5%
Nordeste III	Private Equity	2017	240	135	232	81	313	2.3x	1.8x	20.3%	13.6%
VIR IV	Private Equity	2020	1,000	734	175	848	1,023	1.3x	1.5x	21.2%	22.9%
VIR Strategy^[xxxii]	Private Equity		1,276	881	433	930	1,362	1.6x	1.6x	21.3%	26.5%
SPS I	Credit	2018	128	205	355	22	377	2.6x	2.1x	25.6%	19.1%
SPS II	Credit	2020	671	1,063	1,146	568	1,715	2.3x	2.3x	22.4%	22.2%
SPS III	Credit	2021	1,071	1,708	872	1,506	2,377	2.7x	2.7x	24.4%	22.0%
SPS IV	Credit	2025	1,329	235	6	240	246	1.2x	1.2x	23.5%	24.9%
SPS Strategy^[xxxiii]	Credit		3,199	3,212	2,379	2,336	4,715	2.6x	2.5x	23.6%	21.6%
MAV I	Credit	2022	165	165	169	75	245	1.5x	1.5x	19.1%	20.0%
MAV II	Credit	2023	205	205	55	205	260	1.3x	1.4x	19.2%	13.0%
MAV III	Credit	2025	220	96	10	146	156	NM	NM	NM	NM
MAV Strategy^[xxxiv]	Credit		590	467	235	426	661	1.4x	1.4x	19.1%	16.2%
Lacan Florestal I	Real Assets	2012	253	253	255	322	577	2.3x	1.2x	11.0%	2.7%
Lacan Florestal II	Real Assets	2016	356	356	125	589	714	2.0x	1.5x	11.6%	6.2%
Lacan Florestal III	Real Assets	2020	502	415	–	551	551	1.3x	1.2x	10.2%	7.2%
Lacan Florestal IV	Real Assets	2023	221	216	–	232	232	1.1x	1.1x	11.3%	11.4%
Lacan Strategy^[xxxv]	Real Assets		1,331	1,240	380	1,695	2,075	1.7x	1.3x	12.6%	6.2%
FIP Transmissão^[xxxvi]	Real Assets	2017	211	104	367	9	376	3.6x	2.7x	55.6%	40.4%
VIAS^[xxxvii]	Real Assets	2021	386	350	–	512	512	1.5x	1.4x	15.8%	13.3%
VICC^[xxxviii]	Real Assets	2022	1,784	151	–	167	167	1.1x	1.2x	NM	NM
VFDL^[xxxix]	Real Assets	2021	422	341	16	401	417	1.2x	1.2x	10.2%	7.6%
Vinci Credit Infra^[xl]	Credit	2022	1,848	1,352	85	497	581	1.2x	1.2x	NM	NM

($ in thousands)	1Q'24	2Q'24	3Q'24	4Q'24	1Q'25	2Q'25	3Q'25	4Q'25
Adjusted Distributable Earnings (R$)	49,605	58,401	57,104	73,946	62,306	75,759	73,092	81,288
Adjusted Distributable Earnings (US$)^[xli]	9,801	10,331	9,872	12,804	11,027	13,964	13,645	15,605
Adjusted DE per Common Share (US$)^[xlii]	0.18	0.19	0.19	0.20	0.17	0.22	0.22	0.24
Actual Dividend per Common Share^[xliii]	0.17	0.17	0.16	0.15	0.15	0.15	0.15	0.17

VINP Shares	1Q'24	2Q'24	3Q'24	4Q'24	1Q'25	2Q'25	3Q'25	4Q'25
Shares Repurchased
# of Shares	533,981	220,135	374,834	607,643	683,148	173,762	-	-
Average Cost (US$/share)	10.64	10.82	10.38	10.28	10.07	9.47	-	-
Capital Deployed (US$)	5,681,558	2,382,251	3,890,849	6,246,577	6,879,698	1,645,210	-	-
Class B	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 A^[xliv]	38,778,597	38,779,209	38,404,375	49,580,116	48,896,968	48,778,420	48,778,420	50,955,859
Common Shares	53,244,836	53,245,448	52,870,614	64,046,355	63,363,207	63,244,659	63,244,659	65,422,098

Assets	9/30/2025	12/31/2025
Current assets
Cash and cash equivalents	215,934	280,091
Cash and bank deposits	103,176	121,498
Financial instruments at fair value through profit or loss	96,994	153,729
Financial instruments at amortized cost	15,764	4,864
Financial instruments at fair value through profit or loss	1,449,485	1,534,471
Trade receivables	197,409	214,706
Sub-leases receivable	-	-
Taxes recoverable	14,062	20,010
Other assets	53,575	70,168
Total current assets	1,930,465	2,119,446

Non-current assets
Financial instruments at fair value through profit or loss	134,809	151,615
Financial instruments at amortized cost	5,866	6,141
Trade receivables	14,923	17,518
Sub-leases receivable	3,500	-
Taxes recoverable	3,478	1,225
Deferred taxes	33,104	47,393
Other receivables	44,261	38,315
	239,941	262,207

Investments accounted for using the equity method	59,636	65,796
	-	43,999
Property and equipment	67,368	74,095
Right of use - Leases	127,911	141,226
Intangible assets	1,050,534	1,326,216
Total non-current assets	1,545,390	1,913,539

Total Assets	3,475,855	4,032,985

Liabilities and equity	9/30/2025	12/31/2025
Current liabilities
Trade payables	9,081	13,369
Financial instruments at fair value through profit or loss	11,217	0
Deferred Revenue	15,002	–
Leases	28,882	33,307
Accounts payable	38,024	38,101
Labor and social security obligations	128,508	199,422
Loans and Financing	32,384	93,862
Taxes and contributions payable	26,054	35,047
Total current liabilities	289,152	413,108

Non-current liabilities
Accounts payable	–	6
Leases	114,521	126,877
Labor and social security obligations	6,693	9,221
Loans and Financing	705,900	872,770
Deferred taxes	3,300	4,641
Provision for contingencies	–	44,446
Retirement plans liabilities	478,007	508,416
	1,308,421	1,566,377

Total liabilities	1,597,573	1,979,485

Equity
Share capital	18	19
Additional paid-in capital	2,094,601	2,236,406
Treasury shares	(306,608)	(306,608)
Retained Earnings	98,952	91,974
Other reserves	(6,198)	(43,013)
	1,880,765	1,978,778

Non-controlling interests in the equity of subsidiaries	(2,483)	74,722

Total equity	1,878,282	2,053,500

Total liabilities and equity	3,475,855	4,032,985

Assets	Note	12/31/2025	12/31/2024

Current assets
Cash and cash equivalents	5(c)	280,091	223,302
Cash and bank deposits	5(c)	121,498	99,156
Financial instruments at fair value through profit or loss	5(c)	153,729	120,492
Financial instruments at amortized cost	5(c)	4,864	3,654
Financial instruments at fair value through profit or loss	5(d)	1,534,471	1,531,036
Accounts receivable	5(a)	214,706	227,951
Sub-leases receivable	11	-	1,758
Taxes recoverable		20,010	22,137
Other assets	7	70,168	55,273
Total current assets		2,119,446	2,061,457

Non-current assets
Financial instruments at fair value through profit or loss	5(d)	151,615	140,824
Financial instruments at amortized cost	6	6,141	6,991
Accounts receivable	5(a)	17,518	15,901
Sub-leases receivable	11	-	4,081
Taxes recoverable		1,225	704
Deferred taxes	21	47,393	31,346
Other assets	7	38,315	49,468
		262,207	249,315

Investments accounted for using the equity method	8(b)	65,796	55,081
Judicial deposits	24	43,999	-
Property and equipment	9	74,095	59,132
Right of use – Leases	11	141,226	102,117
Intangible assets	10	1,326,216	1,057,949
Total non-current assets		1,913,539	1,523,594

Total assets		4,032,985	3,585,051

Statements of Income	Note	2025	2024	2023


Net revenue from services rendered	18	977,403	600,779	454,420

General and administrative expenses	19	(725,434)	(411,975)	(252,264)

Operating profit		251,969	188,804	202,156

Finance income	20	145,381	86,871	121,809
Finance expenses	20	(134,249)	(112,225)	(54,580)

Finance income/(expense), net		11,132	(25,354)	67,229

Net profit/(loss) of investments accounted for using the equity method	8	(1,067)	(1,500)	-

Profit before income taxes		262,034	161,950	269,385

Income taxes	21	(42,740)	(45,977)	(49,926)

Profit for the year		219,294	115,973	219,459

Attributable to the shareholders of the parent company		217,579	118,202	220,608
Attributable to non-controlling interests		1,715	(2,229)	(1,149)

Basic earnings per share	17 (g)	3.43	2.14	4.02
Diluted earnings per share	17 (g)	3.21	2.08	3.85

		Share	Additional	Retained	Other	Treasury		Non-controlling	Total
	Note	capital	Paid-in capital	earnings	reserves	shares	Total	interests	Equity


At December 31, 2022		15	1,382,038	81,310	24,149	(114,978)	1,372,534	3,013	1,375,547

Profit for the year		-		220,608	-	-	220,608	(1,149)	219,459
Other comprehensive income:
Foreign exchange variation of investee located abroad		-		-	(2,603)	-	(2,603)	-	(2,603)
Fair value option of convertible preferred shares	17(a)	-	34,141	-	-	-	34,141	-	34,141
Transactions costs from the issuance of preferred shares		-	(1,958)	-	-	-	(1,958)	-	(1,958)
Share based payments		-	(2,783)	-	10,330	2,783	10,330	-	10,330
Treasury shares bought, net of shares sold		-	(3,000)	-	-	(60,668)	(63,668)	-	(63,668)
Allocation of profit:
Dividends		-		(190,474)	-	-	(190,474)	-	(190,474)


At December 31, 2023		15	1,408,438	111,444	31,876	(172,863)	1,378,910	1,864	1,380,774

Profit for the year		-		118,202	-	-	118,202	(2,229)	115,973
Other comprehensive income:
Foreign exchange variation of investee located abroad		-		-	26,498	-	26,498	-	26,498
Issuance of shares as part of business combination	8(a)	3	692,153	-	-	-	692,156	-	692,156
Share based payments		-	(2,735)	-	15,395	2,735	15,395	-	15,395
Treasury shares bought, net of shares sold		-	(144)	-	-	(89,645)	(89,789)	-	(89,789)
Allocation of profit:
Dividends		-		(198,964)	-	-	(198,964)	-	(198,964)


At December 31, 2024		18	2,097,712	30,682	73,769	(259,773)	1,942,408	(365)	1,942,043

Profit for the year		-	-	217,579	-	-	217,579	1,715	219,294
Other comprehensive income:
Foreign exchange variation of investee located abroad		-	-	-	(22,175)	-	(22,175)	-	(22,175)
Issuance of shares as part of business combination	8(a)	1	141,805	-	-	-	141,806	-	141,806
Minority interest as part of a business combitaion	8(a)	-	-	-	-	-	-	73,372	73,372
Redemption liability assumed as part of a business combination	15(v)	-	-	-	(62,788)	-	(62,788)	-	(62,788)
Revaluation of redemption liability	15(v)	-	-	-	(668)	-	(668)	-	(668)
Share based payments		-	(3,111)	-	23,861	3,111	23,861	-	23,861
Treasury shares bought, net of shares sold	17(f)	-	-	-	-	(49,946)	(49,946)	-	(49,946)
Allocation of profit:
Dividends		-	-	(156,287)	(55,012)	-	(211,299)	-	(211,299)

At December 31, 2025		19	2,236,406	91,974	(43,013)	(306,608)	1,978,778	74,722	2,053,500

	Notes	2025	2024	2023
Cash flows from operating activities

Profit before taxation		262,034	161,950	269,385
Adjustments to reconcile net income to cash flows from operations:
Depreciation and amortization	19	57,579	28,701	19,780
Investment income and exchange variation of financial instruments at fair value through profit or loss		(49,098)	(92,056)	(97,703)
Net foreign exchange on liabilities at amortized cost	15(i)	(69,513)	136,374	(16,513)
Interest expense on loans and obligations	20	60,763	61,784	23,654
Gain/loss on remeasurement of contingent consideration	20	32,258	19,915	15,872
Net profit/(loss) of investments accounted for using the equity method	8(b)	1,067	1,500
Share based payments	19	29,912	22,479	14,967
Financial result on lease agreements	20	15,248	7,757	9,109
Other adjustments		(610)	1,030	-
		339,640	349,434	238,551
Changes in assets and liabilities
Accounts receivables		17,694	(18,156)	(43,187)
Taxes recoverable		38,268	(4,777)	2,152
Other assets		21,480	(65,690)	(20,990)
Trade payables		2,693	(3,370)	622
Accounts payable		(22,655)	3,648	(1,575)
Labor and social security obligations		(25,688)	15,110	11,527
Taxes and contributions payable		(47,674)	815	(780)
Purchases of financial instruments related to retirements plans		(74,535)	(293,281)	(84,933)
Contribution for retirements plans		76,176	279,771	82,734
		(14,241)	(85,930)	(54,430)

Cash generated from operations		325,399	263,504	184,121
Income tax paid		(51,438)	(53,733)	(54,875)
Net cash inflow from operating activities		273,961	209,771	129,246

Cash flows from investing activities
Acquisition of a subsidiary, net of cash acquired	8	2,243	(223,068)	-
Purchases of property and equipment and additions to intangible assets		(39,929)	(19,317)	(36,738)
Purchase and sales of financial instruments at amortized cost		-	13,648
Purchase of financial instruments at fair value through profit or loss		(316,346)	(347,264)	(196,079)
Sales of financial instruments at fair value through profit or loss		467,336	357,006	455,781
Dividends received from joint ventures investments	8(b)	3,415
Capital increase in joint ventures	8(b)	(17,744)	(13,140)	-

Net cash (outflow) from investing activities		98,975	(232,135)	222,964

Cash flows from financing activities
Interest payments of loans and obligations	15	(52,640)	(47,934)	(11,975)
Principal payments of loans and obligations	15	(27,700)	(69,168)	(8,889)
Treasury shares acquisition paid, net of treasury shares sold	17(e)	(51,101)	(90,288)	(62,769)
Lease payments, net of sublease received		(31,732)	(18,604)	(23,044)p
Proceeds from loans and obligations	15	49,207	-	-
Issuance of convertible preferred shares	17(f)	-	-	471,835
Dividends paid	17(d)	(209,769)	(203,236)	(190,138)

Net cash (outflow) from financing activities		(323,735)	(429,230)	175,020

Net increase in cash and cash equivalents		49,201	(451,594)	527,230

Cash and cash equivalents at the beginning of the year	5(c)	223,302	660,305	136,581

Foreign exchange variation of cash and cash equivalents in subsidiary		7,588	14,591	(3,506)

Cash and cash equivalents at the end of the year	5(c)	280,091	223,302	660,305

	Interest - %

	12/31/2025	12/31/2024

Subsidiaries
Vinci Partners Investimentos Ltda.	100	100
Vinci Assessoria Financeira Ltda. (1)	100	100
Vinci Equities Gestora de Recursos Ltda. (1)	100	100
Vinci Gestora de Recursos Ltda. (1)	100	100
Vinci Capital Gestora de Recursos Ltda. (1)	100	100
Vinci Soluções de Investimentos Ltda.	100	100
Vinci Real Estate Gestora de Recursos Ltda. (1)	100	100
Vinci Capital Partners GP Limited.	100	100
Vinci Partners USA LLC	100	100
Vinci GGN Gestão de Recursos Ltda. (1)	100	100
Vinci Infraestrutura Gestora de Recursos Ltda.	100	100
Vinci Capital Partners Fund III GP Limited	100	100
GGN GP LLC	100	100
Vinci APM Ltda. (1)	100	100
Vinci Monalisa FIM Crédito Privado IE (2)	100	100
Vinci Asset Allocation Ltda.	75	75
VICC Infra GP LLC	100	100

Vinci Capital Partners IV GP LLC	100	100
Vinci Holding Securitária Ltda.	90	85
Vinci Vida e Previdência S.A. (3)	90	85
Vinci SPS Capital Gestão de Recursos Ltda. (4)	100	100
VICC Infra GP (Lux), S.A.R.L.	100	100
VINCI US RE Corporation (5)	98	98
MAV Capital Gestora de Recursos SS Ltda. (6)	100	100
ICML Gestão de Negócios e Participações SS Ltda. (6)	100	100
Lacan Administração de Bens e Participações Ltda. (7)	100	100
Lacan Investimentos e Participações Ltda. (7)	100	100
SPS IV GP LLC	100	100
MNC Holdings Limited (8)	100	100
Investis Asset Management S.A. (8)	100	100
Compass Group S.A. (8)	100	100
Vinci CG Gestora de Recursos Ltda (8)	100	100
Compass Investments Brazil LLC (8)	100	100
Vinci Compass Chile SpA (8)	100	100
Vinci Compass Inversiones SpA (8)	100	100
Compass Group Chile S.A. Administradora General De Fondos (8)	100	100
VC Servicios Financieros SpA (8)	100	100
Compass Group S.A. Asesores de Inversion (8)	100	100
VC Asesorias e Inversiones SpA (8)	100	100
VC Distribución Institucional SpA (8)	100	100
Compass Group Chile Spa (8)	100	100
Compass Group SA Comisionista de Bolsa (8)	100	100
VC Asesores De Inversión Colombia S.A.S (8)	100	100
Compass Investmenst De Mexico S. A. de C. V. Sociedad Operadora de Fondos de Inversion (8)	100	100
Compass Investmenst Corporativo S.A. de C.V. (8)	100	100
CDI Sociedad Administradora de Proyectos S.A. De C.V (8)	100	100
MB Property Management Mexico S de RL De C.V. (8)	100	100
CDI Sociedad Desarrolladora de Proyectos S.A. de C.V. (8)	-	100
Compass Group Holding S.A.P.I de C.V. (8)	100	100
Compass Servicios Operativos S de RL de C.V. (8)	100	100
Compass Desarrollo Inmobiliario S.A. de C.V. (8)	100	100
Compass Latin America Investments LLC (Delaware) (8)	100	100
Compass Capital Consultants S.A.C. (8)	100	100
Compass Peru S.A. (8)	100	100
Compass Group S.A.F. S.A. (8)	100	100
Compass Group Global Advisors S.A. (8)	100	100
Compass Group Uruguay Investment Advisors S.A. (8)	100	100
Bunara S.A. (8)	100	100
Cipresi S.A. (8)	100	100
CG Global Services S.A. (8)	100	100
Compass Group LLC Establecimiento Permanente en Chile (8)	100	100
Compass Group LLC (8)	100	100
CG Compass (USA) LLC (8)	100	100
Compass Group Holdings Inc (8)	100	100
Compass Group Investments Solutions LLC (8)	100	100
Compass Group Asset Management Holdings S.L.U. (8)	100	100
CDI Mexican Investments Ltd (8)	-	100
Compass Group GP S.à r.l. (Compass GP Luxemburgo) (8)	100	100
Inversiones La Esmeralda SpA (8)	100	100
Compass GSO COF IV Solutions GP Ltd (8)	100	100
Compass BXLS V Solutions GP (8)	100	100
Compass SP Solutions GP (8)	100	100
Compass LCP X Solutions GP (8)	100	100

Compass Secondaries Solutions (8)	100	100
Compass Capital (Cayman) (8)	100	100
Compass BCP Asia II Solutions (8)	100	100
Verde Empreendimentos e Participações S.A. (9)	50	-
Verde Asset Agro e Imobiliário Ltda. (9)	35	-
Verde Asset Management S.A. (9)	50	-
Verde Serviços Internacionais S.A. (9)	50	-
VC Holding LATAM S.A.S.	100	-
MNVC UK Ltd.	100	-
AGILIZANDO TUS FINANZAS, S.A.P.I. de C.V., SOFOM, E.N.R.	100	-
Vinci Lacan IV GP, LLC	100	-
VISA GP, LLC	100	-
VIR V GP, LLC	100	-

	2025	*2024 ()**

Loss/Gain on the monetary position	1,020	(136)
Foreign currency translation adjustment	(78)	(74)
	942	(210)

Balance sheet	12/31/2025	12/31/2024

Cash and cash equivalents	120,834	96,259
Financial instruments at fair value through profit or loss	214,142	102,626
Accounts receivable	40,674	171,744
Taxes recoverable	6,729	18,940
Other receivables	26,848	25,921
Current assets	409,227	415,490

Financial instruments at fair value through profit or loss	128,720	120,846
Intangible assets	16,915	-
Financial instruments at amortized cost	11,883	6,991
Other receivables	-	1,949
Investments accounted for using the equity method	61,592	55,081
Deferred taxes	14,988	10,313
Lease, property and equipment	66,802	89,130
Non-current assets	300,900	284,310

Trade payables	14,086	11,527
Leases	45,978	12,038
Accounts payable	997	6,402
Loans and obligations	35,459	7,200
Labor and social security obligations	59,167	69,235
Taxes and contributions payable	9,911	19,705
Current liabilities	165,598	126,107

Other payables	7	309
Loans and obligations	561,284	577,982
Lease	-	40,531
Labor and secutiry obligations	-	341
Related parties	4,894	-
Deferred taxes	9,884	496
Non-current liabilities	576,069	619,659

Net Equity exposed to other currencies (comprised as below)	(31,540)	(45,966)

Net Equity exposed to US Dollars	(118,585)	(260,868)
Net Equity exposed to Euros	2,194	2,096
Net Equity exposed to Pounds	1,995	15,445
Net Equity exposed to Chilean Pesos	43,522	120,484
Net Equity exposed to Uruguayan Pesos	(7,846)	1,239
Net Equity exposed to Colombian Pesos	5,161	13,352
Net Equity exposed to Argentine Pesos	(721)	12,706
Net Equity exposed to Mexican Pesos	15,677	11,366
Net Equity exposed to Peruvian Sols	27,063	38,214

Net foreign exchange result	12/31/2025	12/31/2024	12/31/2023

Financial revenue	10,419	-	742
Financial expense	-	(20,807)	(775)

Net foreign exchange result, net	10,419	(20,807)	(33)

	Financial liabilities				Other assets
	Payables	Loans and obligations	Retirement plans	Lease liabilities	Cash and cash equivalents	Financial instruments at fair value through profit or loss
Net debt as at
December 31, 2023	(114,752)	(617,092)	(85,554)	(72,812)	660,305	1,168,355

Cash flow and dividends provision	(126,505)	112,315	(279,770)	29,406	(512,354)	269,443
Fair value and monetary adjustments	-	(37,998)	(9,489)	-	31,955	93,238
Addition and finance expenses accrual	-	(184,292)	-	(76,049)	-	-
Foreign exchange adjustments	-	(134,475)	-	-	43,396	-
December 31, 2024	(241,257)	(861,542)	(374,813)	(119,455)	223,302	1,531,036

Cash flow and dividends provision	(18,862)	75,779	(76,173)	27,578	47,952	(80,753)
Fair value and monetary adjustments	-	(2,951)	(57,430)		13,039	84,188
Addition and finance expenses accrual	-	(247,431)	-	(68,307)	-	-
Foreign exchange adjustments	-	69,513	-	-	(4,202)	-
December 31, 2025	(260,119)	(966,632)	(508,416)	(160,184)	280,091	1,534,471

Contractual maturities of financial liabilities at December 31, 2025	Less than 1 year	Between 1 and 3 years	Over 3 years	Total	Carrying amount

Trade payables	(13,369)	-	-	(13,369)	(13,369)
Labor and social security obligations	(199,422)	(9,221)	-	(208,643)	(208,643)
Lease liabilities	(33,307)	(68,344)	(121,243)	(222,894)	(160,184)
Accounts payable	(38,107)	-	-	(38,107)	(38,107)
Loans and obligations	(93,862)	(200,618)	(1,073,934)	(1,368,414)	(966,632)
Total	(378,067)	(278,183)	(1,195,177)	(1,851,427)	(1,403,095)

				Total	Carrying amount
Contractual maturities of financial liabilities				contractual	non-current
At 31 December 2025	Brazil	USA	Others	cash flows	liabilities

2027	(24,132)	(5,954)	(5,226)	(35,311)	(30,496)
2028	(24,132)	(4,867)	(4,034)	(33,032)	(25,872)
2029	(24,132)	(4,768)	(2,922)	(31,822)	(22,546)
2030	(19,489)	(4,759)	(3,063)	(27,311)	(18,250)
2031	(12,989)	(4,875)	(1,541)	(19,404)	(12,178)
2032	(12,989)	(5,036)	-	(18,024)	(10,029)
2033	(12,067)	(855)	-	(12,922)	(5,183)
2034	(11,759)	-	-	(11,759)	(2,323)
Total	(141,687)	(31,114)	(16,786)	(189,587)	(126,877)

			Financial Impact ()**
Risk Factor	Variation in	*Stress Scenario ()**	12/31/2025	12/31/2024
Current inflation	Inflation index	-100bps	3.9	3.1
Exchange traded real estate funds	Share prices	-10%	(13.3)	(12.4)
Brazilian stock prices	Share prices	-10%	(2.6)	(4.4)
Fixed-rate offshore rates	US yield curve	-100bps	(0.1)	(53.0)
Foreign exchange rate	Foreign exchange rates	10% (***)	5.1	(9.4)
Domestic base overnight rate	Domestic base overnight rate	-100bps	(5.0)	(4.2)

Financial assets	Section	12/31/2025	12/31/2024

Accounts receivable	(a)	232,224	243,852
Other financial assets at amortized cost	(b)	45,300	44,342
Cash and cash equivalents	(c)	280,091	223,302
Financial assets at fair value through profit or loss (FVPL)	(d)	1,686,086	1,671,860
		2,243,701	2,183,356

Financial liabilities

Liabilities at amortized cost	(e)	260,119	241,257
Lease liabilities	(e)	160,184	119,455
Loans and obligations	(e)	966,632	861,542
Retirement plans liabilities	(e)	508,416	374,813
		1,895,351	1,597,067

	12/31/2025	12/31/2024
Opening loss allowance on January 1	(632)	(150)
Loss allowance assumed as a result of business combination	-	(491)
Decrease in accounts receivable allowance recognized in profit or loss	-	9
Closing loss allowance on December 31	(632)	(632)

	12/31/2025	12/31/2024

Employees loans (Note 7 (iii))	17,093	15,100
Receivable from employees (Note 7 (i))	28,207	29,242
Advances to projects in progress (Note 7 (iv))	26,743	14,314
	72,043	58,656

(i) Mutual funds
	12/31/2025	12/31/2024

Current assets	1,523,998	1,519,524
Vinci Monalisa FIM Crédito Privado IE (2)	888,630	1,025,462
Vinci Multiestratégia FIM	409	1,038
Vinci Special Opportunities Fund Master SP	15,381	-
Compass Lapco Fondo De Inversion Serie B	5,967	-
Vinci Institucional FI RF Referenciado DI	-	3,028
Vinci Income Fund Ltd	28,842	31,150
Vinci Argentina Opportunity Fund II	-	17,120
Vinci Compass Brazil Equity Fund Class I	10,736	-
Latin America Equity Fund Class I	11,081	-
Vinci Reservas Técnicas FI RF DI	16,058	16,392
Retirement services investment funds (1)	508,420	374,813
FI Vinci Renda Fixa CP	11,591	7,676
Fondo Mutuo Compass Liquidez	7,104	14,862
Pershing Money Market	5,255	-
LV Money Market USD	6,262	5,592
Other mutual funds	8,262	10,044

Non-current assets	19,958	9,919
Compass - Fondo de Inversión Adelanto de Efectivo	12,353	-
Other mutual funds	7,605	9,919

	12/31/2025	12/31/2024
Net Asset Value	888,630	1,025,462
Real estate funds	238,492	214,428
Mutual funds	210,390	460,892
Private equity funds	400,479	274,699
Other assets/liabilities	39,269	75,443

	12/31/2025	12/31/2024
Mutual Funds’ classification
Interest and foreign exchange (a)	73.11%	81.72%
Foreign investments (b)	2.64%	7.19%
Macro (c)	0.00%	4.92%
Specific strategy (d)	24.25%	6.17%
	100.00%	100.00%

Real Estate funds
	12/31/2025	12/31/2024

Vinci Fulwood DL FII (a)	82,731	71,884
Vinci Credit Securities FII (b)	61,710	56,706
Vinci Imóveis Urbanos FII (c)	41,626	40,077
Vinci Offices FII (d)	23,304	22,624
Other real estate funds (e)	29,121	23,137
	238,492	214,428

Private equity funds
	12/31/2025	12/31/2024

VCP IV Master FIP B (a)	156,450	67,248
Vinci Crédito Infra Institucional Fundo Incentivado – Infraestrutura (b)	80,786	60,068
Vinci Infra Água e Saneamento Strategy FIP – Infraestrutura (c)	58,121	56,160
Vinci Strategic Partners I FIP – Classe A (d)	28,353	20,201
Vinci Infraestrutura Transporte e Logística FIP	17,171	17,626
Lacan Florestal III Feeder FIP Multiestratégia (e)	14,407	13,297
Vinci Impacto Ret IV FIP Multiestratégia	9,674	6,343
Vinci Strategic Partners I FIP – Classe B (d)	7,606	5,598
Lacan Florestal II - FIP Multiestratégia (e)	5,607	5,444
Lacan Florestal IV Feeder FIP Multiestratégia - IS (e)	4,515	1,763
Vinci Infra Coinvestimento I FIP - Infraestrutura	918	7,608
Other funds	16,871	13,343
Total private equity funds	400,479	274,699