PicPay is the second-largest digital bank in Brazil by number of customers

PicPay announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission (“SEC”) for a proposed initial public offering of its Class A common shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market and other conditions, as well as the completion of the SEC review process.

If the offering is completed, PicPay intends to list its Class A common shares on the Nasdaq Global Select Market under the symbol “PICS.”

Citigroup, BofA Securities and RBC Capital Markets are acting as joint global coordinators for the proposed offering. Mizuho and Wolfe | Nomura Alliance are also serving as joint bookrunners, and FT Partners is acting as co-manager for the offering.

In connection with the proposed offering, Bicycle Capital, a growth equity firm focused on durable, market-leading businesses across Latin America and beyond, has given PicPay a non-binding indication that it intends to purchase Class A common shares in the offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations, or sales of securities will be made in accordance with the registration requirements of the U.S. Securities Act of 1933, as amended.

The proposed offering will be made only by means of a prospectus. Once available, a copy of the preliminary prospectus relating to the proposed offering may be obtained from: Citigroup Global Markets Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 800-831-9146; BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001 or by email at dg.prospectus_requests@bofa.com; or RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, 8th Floor, New York, NY 10281, by telephone at 877-822-4089, or by email at equityprospectus@rbccm.com.

A registration statement on Form F-1 related to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Further information regarding the proposed offering will be made available when appropriate.

About PicPay

PicPay is the second-largest digital bank in Brazil by number of customers. 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. PicPay serves more than 66 million customers across Brazil, 42 million of whom were active in the third quarter of 2025, and reported an annualized return on equity (ROE) of 17.4% in the third quarter of 2025. In the first nine months of 2025, PicPay recorded total revenue and financial income of R$7.3 billion (approximately US$1.37 billion) and net profit of R$313.8 million (approximately US$59 million), with deposits held by consumers of R$27 billion (approximately US$5 billion) as of September 30, 2025.

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