Overview of Transaction

• On January 29, 2026, PicPay officially launched its IPO at $19 per share, raising gross proceeds of $434 million and implying a market capitalization of approximately $2.6 billion
• The IPO consisted of an offering of 22,857,143 Class A common shares
• PicPay granted the underwriters a 30-day option to purchase up to an additional 3,428,572 Class A common shares at the initial public offering price, less underwriting discounts and commissions
• The common shares began trading on January 29, 2026, on the Nasdaq Global Select Market under the ticker symbol “PICS”
• Bicycle Capital was the anchor investor for the IPO, committing $50 million in capital with a six-month lock-up
• PicPay is the second-largest digital bank in Brazil by number of customers, serving more than 60 million customers across Brazil
• PicPay began its operations with instant payments and the use of QR codes and has since evolved into a digital bank offering financial products and services such as digital wallets, credit cards, loans, “Buy Now Pay Later” (BNPL), investments and insurance to consumers and businesses

Significance of Transaction

• The IPO represents the first IPO for a Brazilian company since 2021
• PicPay expects to use the net proceeds for general corporate purposes including working capital, operating expenses, meeting regulatory capital requirements, as well as capital expenditures
• The Company also intends to use a portion of the net proceeds for the Kovr acquisition and to acquire or invest in other businesses, products, services, or technologies

FT Partners' Role

• FT Partners served as co-manager on this IPO
• This transaction highlights FT Partners’ deep domain expertise in the Latin American FinTech space, as well as our capabilities in helping companies navigate the IPO process