Revenue by Segment

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
Proportionately Consolidated	-10.60B	-7.11B	-7.65B	-7.07B	-4.61B
Eliminations	43.02M	-37.88M	14.13M	-662.00K	-567.52M
Other Activities	498.01M	400.19M	486.09M	408.03M	926.00M
Other Activities Growth	24.44%	-17.67%	19.13%	-55.94%	66.10%
Consolidation Adjustments	440.93M	205.86M	785.45M	622.27M	421.00M
Consolidation Adjustments Growth	114.19%	-73.79%	26.22%	47.81%	-
Insurance, Pension and Capitalization Bonds	24.44B	20.72B	18.01B	16.21B	13.97B
Insurance, Pension and Capitalization Bonds Growth	17.94%	15.02%	11.11%	16.06%	-0.60%
Banking	83.83B	74.02B	63.78B	72.14B	80.66B
Banking Growth	13.24%	16.05%	-11.59%	-10.55%	45.49%
Unallocated Adjustments	-8.63B	-8.69B	-6.47B	1.05B	2.64B
Unallocated Adjustments Growth	-	-	-	-60.34%	-
Total	90.02B	79.51B	68.97B	83.36B	93.44B
Total Growth	13.21%	15.29%	-17.27%	-10.78%	47.51%

Source: S&P Global Market Intelligence.