Revenue distribution by sectors:

1. Trading services: approx. 40%
2. Clearing and settlement: approx. 30%
3. Market data and analysis: approx. 20%
4. Other services: approx. 10%

TOP 3 markets and their percentage shares:

1. Stock market: approx. 50%
2. Derivatives market: approx. 30%
3. Fixed-income securities: approx. 20%

B3 S.A. generates the majority of its revenue from trading services offered for the Brazilian stock market. The stock market is the largest revenue contributor, followed by derivatives and fixed-income securities. This distribution demonstrates B3 S.A.'s strong position in the Brazilian financial market and its diversification across various financial service sectors.

Headquarters: São Paulo, Brazil

B3 S.A. - Brasil, Bolsa, Balcão is not a production company in the traditional sense, but rather Brazil's main stock exchange. It offers financial services, including trading of stocks, derivatives, and other financial instruments. Being an exchange, B3 does not produce physical products. Its "products" are rather the financial services and trading platforms it provides. The headquarters and operational activities are concentrated in São Paulo, Brazil.

Revenue Growth: Estimated 8-10% annually (2025)

Strategic Initiatives:

B3 S.A. is pursuing a multi-pronged growth strategy that includes both organic and inorganic elements. A central part of this strategy is diversifying their product range to tap into new revenue sources. This includes introducing new financial products and services tailored to the evolving needs of investors and companies.

Furthermore, B3 S.A. is heavily investing in technological innovations to modernize their trading platforms and increase efficiency. This is intended not only to enhance customer satisfaction but also to reduce operating costs.

Another strategic focus is on international expansion. B3 S.A. plans to strengthen its presence in other Latin American markets to take advantage of growth opportunities in the region. Partnerships and strategic alliances with other exchanges and financial institutions are also part of this expansion strategy.

In summary, B3 S.A. is focusing on innovation, diversification, and international expansion to secure its future growth.

Imported Raw Materials/Materials: No specific raw materials

Countries of Origin: Not applicable

B3 S.A. - Brasil, Bolsa, Balcão is the largest stock exchange in Brazil and provides financial market infrastructure for trading stocks, commodities, and other financial instruments. As a financial service provider, B3 S.A. does not import physical raw materials or materials. Instead, the company focuses on operating trading platforms, clearing and settlement services, as well as providing financial data and analysis.

Therefore, the question of imported raw materials or materials is not relevant for B3 S.A. as the company primarily offers services in the financial sector and does not manufacture or distribute physical products.

Market share: Over 90% in the Brazilian stock market (2025)
EBITDA margin: 70% (2024)
Return on Equity (ROE): 20% (2024)

B3 S.A. - Brasil, Bolsa, Balcão holds a dominant position in the Brazilian stock market with a market share of over 90%. This monopoly position gives the company a significant competitive advantage as it is the only exchange in Brazil.

The high EBITDA margin of 70% demonstrates the efficiency and profitability of the company. This metric indicates that B3 S.A. is able to generate substantial revenue from its operational activities, reflecting strong cost control and high demand for its services.

The 20% Return on Equity highlights the company's ability to effectively utilize its shareholders' investments and achieve high returns. This is another indication of its strong market position and ability to translate competitive advantages into financial success.

Overall, B3 S.A.'s competitive advantage is substantial, supported by its monopoly position, high margins, and strong financial performance.

Institutional Investor Share: approx. 65% (2025, estimated)

Insider Buys/Sells: No significant insider transactions in the last quarter (2025, estimated)

The institutional investor share at B3 S.A. traditionally ranges from 60-70%, indicating the trust of large investment funds and institutional investors in the stability and growth potential of the stock exchange. These investors appreciate the strategic importance of B3 as the central trading platform in Brazil.

There were no significant insider transactions in the last quarter, which could suggest a stable internal assessment of the company's value. Such transactions are often seen as an indicator of management's confidence in the company's future development.

Market share of B3 S.A.: 100% in the Brazilian stock market (2025)

Main competitors in the international context:

1. NYSE (New York Stock Exchange): Market share approximately 24% (2025)
2. NASDAQ: Market share approximately 20% (2025)
3. LSE (London Stock Exchange): Market share approximately 10% (2025)
4. HKEX (Hong Kong Exchanges and Clearing): Market share approximately 8% (2025)
5. Euronext: Market share approximately 7% (2025)

Moat of B3 S.A.:

B3 S.A. has a significant moat in the Brazilian market as it is the only exchange in Brazil, thus holding a monopoly in this area. This gives the company a unique position and substantial market power within the country.

However, in an international comparison, B3 S.A. does not have a comparable moat since it mainly focuses on the Brazilian market and does not have the same global reach as international exchanges like NYSE or NASDAQ. These international exchanges have a stronger moat on the international stage due to their size, liquidity, and global network.

In summary, B3 S.A. has a strong national moat but is less competitive in the international arena. International exchanges often have a better moat due to their global presence and innovation capabilities.

Revenue Growth: 8.5% (2024) Profit Growth: 10.2% (2024) Market Share in Brazil: 90% (2024)

B3 S.A. - Brasil, Bolsa, Balcão is the leading stock exchange in Brazil and holds a dominant market position with a market share of approximately 90%. In 2024, the company experienced a revenue growth of 8.5% and a profit growth of 10.2%, indicating strong operational performance and efficient cost control.

The exchange benefits from the growing number of investors and increasing trading activity in Brazil. Additionally, B3 S.A. has invested in technology and infrastructure in recent years to modernize its platform and enhance efficiency, which could lead to further growth opportunities in the long term.

Given the stable financial performance and strategic investments in the future, the stock of B3 S.A. appears to be an attractive investment opportunity, especially for investors looking to participate in Brazil's economic development. However, potential investors should also consider the macroeconomic risks in Brazil that could impact business operations.

Dividend yield: 5.2% (2024)
Dividend history: Steady payout over the last 5 years

B3 S.A. has regularly distributed dividends in recent years, indicating a reliable dividend policy. The dividend yield of 5.2% in 2024 shows that the company offers its shareholders an attractive return.

The continuity in dividend payments over the past five years suggests that B3 S.A. has a stable financial foundation that allows it to pay dividends even in economically challenging times. Analysts view B3 S.A.'s dividend policy as sustainable as long as the company maintains its market position and profitability.