Banco BTG Pactual S A : 4Q22 Results Presentation

Conference Call Presentation

4th Quarter 2022

For additional information, please read carefully the notice at the end of this presentation

Earnings release

4Q 2022

ENGLISH CONFERENCE CALL

• February 13, 2023 (Monday)
• 11am (New York) / 1pm (Brasília)
• Phone 1: [phone]
• Phone 2: [phone]
• Code: BTG Pactual

PORTUGUESE CONFERENCE CALL

• February 13, 2023 (Monday)
• 9am (New York) / 11am (Brasília)
• Phone 1: [phone]
• Phone 2: [phone]
• Code: BTG Pactual

Webcast: The conference call audio will be broadcast live via a webcast system available on our website www.btgpactual.com/irParticipants are requested to connect 15 minutes prior to the time set for the conference calls

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A year of record revenues and net income as we benefited from

operational leverage and all-weather business mix

Excluding

non-recurring

provision

Total Revenues	Net Income			Adj. ROAE
(R$)		(R$)
24%	28%		20.8%
annual growth	annual growth			FY 2022
4Q 22	3.6bn	4Q 22	1.8bn	4Q 22	16.7%
2022	17.2bn	2022	8.3bn
Total Revenues	Net Income			Adj. ROAE
(R$)		(R$)
33%	37%		22.1%
annual growth	annual growth			FY 2022
4Q 22	4.8bn	4Q 22	2.3bn	4Q 22	22.0%
2022	18.4bn	2022	8.9bn

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Detailed impact of non-recurring provision on quarterly result

This isolated event negatively impacted our net income for the quarter, but does not reflect the robust state of our business

	Adjusted Net Income and ROAE		Excluding Non	4Q 2022 Excluding
	4Q 2022	Recurring	Non Recurring
	(unaudited)
		Provisions	Provisions
	Investment Banking	484.7		484.7
	Corporate & SME Lending	105.1	(1,123.0)	1,228.1
	Sales and Trading	1,133.7	(77.0)	1,210.7
	Asset Management	429.2		429.2
	Wealth Management & Consumer Banking	686.1		686.1
	Principal Investments	53.0		53.0
	Participations	6.9		6.9
	Interest and Other	727.7		727.7
	Total revenues	3,626.4	(1,200.0)	4,826.4
	Bonus	(346.6)	153.1	(499.8)
	Salaries and benefits	(462.3)		(462.3)
	Administrative and other	(596.4)		(596.4)
	Goodwill amortization	-		-
	Tax charges, other than income tax	(255.0)		(255.0)
	Total operating expenses	(1,660.4)	153.1	(1,813.6)
	Income before taxes	1,966.0	(1,046.9)	3,012.9
	Income tax and social contribution	(198.6)	466.9	(665.5)
	Net Income	1,767.4	(580.00)	2,347.4
	Adjusted shareholder's equiity EOP	42,372		42,952
	Annualized ROAE	16.7%		22.0%

1. Provision related to supply-chain financing exposure
2. Provision related to other financial instruments
3. Lower bonus expenses
4. Lower income taxes due to provision and bonus adjustments
5. Total net income impact of the non-recurring provision

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Sequentially strong quarterly net inflows led to an accumulated NNM of R$254bn in 2022, reaching R$1.3tn of total AuM/WuM

Net New Money	AuM / AuA		WuM
(R$)	(R$)		(R$)
68bn	28%	28%
4Q 22	y-o-y growth		y-o-y growth

3Q 22	63bn	4Q 22	707bn	4Q 22	546bn
4Q 21	64bn	3Q 22	665bn	3Q 22	509bn
2022	254bn	4Q 21	553bn	4Q 21	428bn

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