# BRADESCO INVESTMENTS INC. X-17A-5 (2026-04-03) — Broker-dealer annual report - Company: BRADESCO INVESTMENTS INC. - Form: X-17A-5 - Filed: 2026-04-03 - Period: 2025-12-31 - Accession: 0000811093-26-000005 - CIK: 811093 - File #: 8-37483 - Type: Broker-dealer - Material weakness: No - Auditor: KPMG LLP - Auditor location: NEW YORK, NY - Contact: Mauricio Cunha - Phone: (305) 523-6529 - Email: mounha@pradescopank.com - Website: pradescopank.com - Signed by: MAURICIO CUNHA (HEAD OF BRADESCO INVESTMENTS) Original filing: https://www.sec.gov/Archives/edgar/data/811093/000081109326000005/bi2025fspb.pdf --- {0}------------------------------------------------ | UNITED STATES | |---------------| | | | | #### UUUUUUUUUUUUUU S-ATI-X MAROF III TRAS | 8-37488 | The first of the country of the country of the country of the country of the country
SEC FILE NUMBER | |---------|---------------------------------------------------------------------------------------------------------| | | | #### FACING PAGE SEEL to 10 A 20 Securities Securities Securities Securities Securities Proitem of A | SUSUS (A O T O | |----------------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | and Engines 22381722255 MN/DD/W A. REGISTRANT IDENTIFICATION MM/DD/WW www. Bradessoo Investments Inc. TYPE OF REGISTRANT (check all applicable boxes): E Broker-dealer D Check here if respondent is also an OTC derivatives dealer D Security-based swap dealer C Major security-based swap participan on on xod . On 9 8 asu ton od : 22 30 PM 2020 PLAS a posto a por por of on body ## 3011 Ponce de Leon Blvd, PHF | | No. and Street) | | |---------------------------------------------------|-----------------------------------|-------------------------| | Coral Gables | Floriol Fi | 33134 | | City | State | Zip Code) | | DO DE CONTINUE OF CHARDER HTIW TOATHOO OT MOSSESS | | | | eyuno oisiuneM | 6259-82599999 | mounha@pradescopank.com | | Name | Ares Code - Telephone Number | Email Address) | | | g
ИОГТАЭГЧИНИЭТ ПОДЕЛИН ПОДРЖА | | INDERT USLIF UNELL ACCOUNTAT Whose regorts are contains in this filing #### RPMG LLP (Date of Registration with PCOBB)(ff applicable) (Address) 345 Park Avenue 0020020003 (Name – if individual, state last, first, and middle name) FOR OFFICIAL USE ONLY (City) n filmləri Respublikasının Filmin Filmin Filmin Filmin Filmin Filmin Filmin Alexan Alban Katalog Alexan Alan Alan Alan Alan Alan Alan Alan Alan Alan (PCAOR Registration Number, if applicable) 681 (State) AN (Zip Code) 10154-0102 ilduq the production in to strodge leunne and tentify themaining and more not mort noticle of the in CFR 240.17a-5(e)(1)(ii), if applicable. I as a month and of the and of the reader minimalis burnements a val betroque of the many of bishing a currently valid OMB control number. mol and essens of be inpert of be intention on its mornity to noticement of to broges of are of in stocraf {1}------------------------------------------------ ### UOITAMAITAA AO HTAO financis report persidenting to the firm of Brasesco investments In 1, MAURICIO CUNHA shews (or affirm) that, to the best of my knowledge and belief, the for se as that of a customer. yələr bəyəsindən məsasənin vəziyəsində və verilər. Bu verməsinə və vəziyə və yerləşir. Bu və bir və yaxında 213 үпе топ үпедшог эфт төццэп тепт (тилуурги) тогтоо теогтой г. эле тогтоо боль эпит гі Signatures litie: Head of Bradesco Investments Notary Public ## :(sexod eldesilqqe IIs your and specialite sidT - (a) Statement of financial condition - (d) Motes to consolidated statement of financial condition. - lə transfers bilərində aid ni - ()x-2 noitelugan to 20-1.012 g ni benileb se) amoni evisually no - (d) Statement of cash flows. - a see and service and supersion of steploding some to themesters (e) - (f) Starsment of changes in librillities submitiated to claims of creditors - (g) Notes to consolidated financial statements. - aldesilades and seat of the C-E2 C1 C C-E3-1.045 A72 T1 J C P 20 noitetuques (d) - (i) - .E-E52.00S 832 Г. от А tididix3 от теметират этогиятират го пойтайштвээр тој подгогично (() - □ Extires (17 CFR 240.016-6, as applicable 10 E-E-21.002 Я-2 11 0 8 11dirix3 of 116622 г. представляется правлентата в 10 пойтанициод (4) - (1) - (m) - D (u) 1995 г. также сама сеген да газетство под годи со полгания подъем подъемното по - 240.1553-8-69)) (S) Or IT CFR 240.085-4, as spplicable. - L əsilə qalan mənist รอวางอิง โรเลยริย์ เกษตรี รายชาวิธรร ธ เอ วันเพื่อ รอวาคารศึกษา ค.ศ. 2017 10 โม 2 ระวัติ 042 พ.ว. 11 10 โม 2 ระวิว. 042 พ.ว. ້າອາ ອldiger 10 ໄຣ່ເດຣ 19 ກຸດທີ່ 10 ເດທີ 10 ເມລາ 2007 ອກ 10 ເຂດທາຣຕຣ໌ ອາໄດ້ວາທຸກຄົນ ອັງຕາກວາກຄັນ ເປັນປະເທດລາວ (ປ ໂມ ຈອກມ ຂຸ້ມອາຫານທຸກອາ ອປສອງ ອປີ ປາຣ ເວໄປນາ ຄ.ສ. 2-681.042 A32 ໂ 1 .2-232.005 Я3 ໂ 1 -532.005 Я3 V I 19bnu ປ່າງ​ດ - and in the more to themester and ni bestabile not established to the minister (q) - eldes ilgge es , F-88.005 893 TI 10 , SI-61.045 872 TI diw esseebrooss ni noitemiiffe no d120 (p) - L aldesilqqe se , - 681.042 840 77 77 10 5-67.045 Я-2 72 diw 9306b1000 (1) - 口 eldesilqqs se , - e81.045 872 7 10 2-6 1.045 873 5 1 diiw acusb10026 ni 110q91 noitqmex3 (s) - - (1) - AFC The repressed is leinenit to today leinenit ent to notrenimexe us no besed trodes single the programment 240.765, I C CFR 200.085 7, or 1 CFR SA01178-22, as spolicable. - 口 Class 21.7-68 or 17 CFR 240.08-7, as applicable. ( 1) ເອການ ກາດຊອງ ອາກຣາເດີນທາງ 10 ແດນລາວການປະກວດຄວາມຊາວ ຂອງປີ ການປະກວດ ລາວປະຊາທິປະຕິທິນສຸລິຍະຄຸນ ( ເ - CFR 240.188-7, as applicable. T 10 ટ-6 L.045 Я 7 7 1 196 પ્રાપ્ય 10 ພອກ​ອາ 6 10 person 10 person 1 10 person 10 minutes 10 minutes 10 m 1 - 1 77-61 1042 832 LT 10 ƏL-ESSI (062 842 LT 4)!M ƏSUBAD 1000-pəərbə 30/vidan və stroqer leynəlxalq (x) - D ro 'ilbur suoverd of the basis best of bund to this of prior second of the tem your gridges for and of your as applicable. - s stement that no material inappensive, under 7 CFF 240.17 CFF 240.17 STS - E (z) Other: ((2)(0)2-081.04.2 LT 10 (E)(9)2-07.002 LT 2022 LT 20:10:100 mints Jo suoinod morrost pour 2017 1 applicable SD {2}------------------------------------------------ # **WITH REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** **STATEMENT OF FINANCIAL CONDITION** December 31, 2025 **BRADESCO INVESTMENTS INC. (S.E.C I.D. No. 8-37483)** {3}------------------------------------------------ ### BRADESCO INVESTMENTS INC. ## STATEMENT OF FINANCIAL CONDITION December 31, 2025 ### TABLE OF CONTENTS | NOTES TO FINANCIAL STATEMENT 3
STATEMENT OF FINANCIAL CONDITION 2 | |------------------------------------------------------------------------| | FINANCIAL STATEMENT | | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 1 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) Miami, FL 33130 78 SW 7 Street Brickell City Centre, Suite 1200 KPMG LLP ## **Report of Independent Registered Public Accounting Firm** Bradesco Investments Inc.: To the Stockholder and Board of Directors *Opinion on the Financial Statement* December 31, 2025, in conformity with U.S. generally accepted accounting principles. the financial statement presents fairly, in all material respects, the financial position of the Company as of Company) as of December 31, 2025, and the related notes (collectively, the financial statement). In our opinion, We have audited the accompanying statement of financial condition of Bradesco Investments Inc. (the ### *Basis for Opinion* regulations of the Securities and Exchange Commission and the PCAOB. with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent opinion on this financial statement based on our audit. We are a public accounting firm registered with the This financial statement is the responsibility of the Company's management. Our responsibility is to express an respond to those risks. Such material misstatement of the financial statement, whether due to error or fraud, and performing procedures that misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of and perform the audit to obtain reasonable assurance about whether the financial statement is free of material We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan procedures included examining, on a test basis, evidence regarding the amounts statement. We believe that our audit provides a reasonable basis for our opinion. and significant estimates made by management, as well as evaluating the overall presentation of the financial and disclosures in the financial statement. Our audit also included evaluating the accounting principles used We have served as the Company's auditor since 2021. March 19, 2026 Miami, Florida {5}------------------------------------------------ | 23,229 | \$
Total liabilities and stockholder's equity | |-----------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------| | 15,658 | Stockholder's equity | | 8,647
6,911
100 | Retained earnings
Additional paid in capital
Common stock, \$1 par value; 100,000 shares
Stockholder's Equity:
authorized, issued and outstanding | | 7,571 | Total liabilities | | 1,958 | Due to affiliates | | 28 | Accrued commissions and other payables | | 4,823
762 | \$
Operating lease liability
Accounts payable and accrued expenses | | | | | | Liabilities:
LIABILITIES AND STOCKHOLDER'S EQUITY | | 23,229 | \$
Total asset
s | | 323 | Prepaid expenses and other assets | | 624 | Deferred tax asset, net | | 779 | Due from affiliates | | 1,384 | Trailer fee receivables | | 726 | Operating lease right-of-use asset | | 2,911 | Deposits with clearing firms | | 16,482 | \$
Cash and cash equivalents | | | ASSETS | | 2025 | | {6}------------------------------------------------ ## **NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** Nature of Business: Effective February 26, 2021, BAC Florida Investments Corp.'s legal name changed to following states and territory since the corresponding effective dates: As of December 31, 2025, Bradesco Investments Inc. is approved to operate as a broker-dealer in the clearing firm, Apex Clearing Corporation, to clear transactions introduced through Apex's digital platform. York Mellon Corporation. On May 28, 2024, the Company entered into a similar agreement with another transactions on a fully disclosed basis through Pershing LLC ("Pershing"), a subsidiary of The Bank of New transaction services to its customers. The Company clears its regular (i.e., non-digital) securities The Company is 100% owned by Bradesco Bank ("Parent Company"). The Company offers securities and Exchange Commission ("SEC") and is a member of Financial Industry Regulatory Authority ("FINRA"). Bradesco Investments Inc. (the "Company"). The Company is a broker-dealer registered with the Securities Bradesco BAC Florida Investments Corp. Effective March 20, 2023 the Company changed its name to | Florida
US States & Territories | Effective Date
10/28/1987 | |------------------------------------|------------------------------| | New York | 07/08/1991 | | Georgia | 12/13/2017 | | Delaware | 03/08/2018 | | North Carolina | 12/05/2019 | | Texas | 01/23/2020 | | District of Columbia | 08/20/2021 | | Massachusetts | 03/30/2022 | | New Jersey | 07/08/2022 | | Tennessee | 08/18/2022 | | Maryland | 09/01/2022 | | Colorado | 09/07/2022 | | Louisiana | 02/27/2023 | | Wyoming | 06/07/2023 | | Ohio | 09/29/2023 | | California | 10/13/2023 | | South Dakota | 11/28/2023 | | Illinois | 07/31/2024 | | Missouri | 09/17/2024 | | Pennsylvania | 02/14/2025 | | Arizona | 02/19/2025 | | Nevada | 02/28/2025 | | North Dakota | 04/21/2025 | | Puerto Rico | 05/14/2025 | | Utah | 06/23/2025 | | Oregon | 12/23/2025 | | | | | | | and liabilities at the date of the financial statements. Actual results could differ from those estimates. assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets generally accepted in the United States of America and requires management to make estimates and Basis of Preparation: The financial statement IS presented in accordance with accounting principles {7}------------------------------------------------ # **NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (continued) approximates fair value. days or less that are bought and held until maturity. Cash and cash equivalents are carried at cost, which Company and clearing firm, as well as investments in U.S. Treasury securities with original maturities of 90 Cash and Cash Equivalents: - Cash and cash equivalents consist primarily of cash held with the Parent 2 and amounts due from and payable to the clearing firm for fees and commissions. Deposits with Clearing Firms: Deposits with our clearing firms consist of restricted cash disclosed in Note Revenue Recognition: The Company has identified commissions and trailer fees as its most significant revenue streams. basis. fund holdings period. The receivable associated with accrued trailer fees is generally settled on a quarterly Trailer fees are estimated based on an agreed upon distribution rate with each fund family over the average Financial Instruments with Off-Balance-Sheet Risk: In the normal course of its business and under standard customers are unable to fulfill contractual obligations under margin accounts. transactions. The Company is, therefore, exposed to off-balance-sheet risk of loss in the event that the Company has agreed to indemnify its clearing firms from damages or losses resulting from customer contract terms included in the correspondent agreements with Pershing LLC and Apex, its clearing firms, under this indemnification provision. Unsettled customer trades amounted to \$19 at December 31, 2025. its financial statements. Since its inception, the Company has not been required to make any payment under customary margin requirements. As a result, the Company did not record any contingent liability in At December 31, 2025, there were no margin accounts that were not fully secured by marketable securities Fair Value of Financial Instruments: The carrying amount of the Company's financial instruments in note 3. instruments are estimated using relevant market information and other assumptions, as more fully disclosed approximate their fair value because of the short maturity of the instruments. Fair values of financial repurchase them before their maturity. Company does not maintain effective control over the transferred assets through an agreement to constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the assets have been isolated from the Company, the transferee obtains the right (free of conditions that the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the Transfers of Financial Assets: Transfers of financial assets are accounted for as sales, when control over Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course effect on the financial statements. loss can be reasonably estimated. Management does not believe that such matters will have a material of business, are recorded as liabilities when the likelihood of loss is probable, and an amount or range of allowance, if needed, reduces deferred tax assets in the financial statements for the changes in deferred tax liabilities or assets between years. A valuation statements, utilizing currently enacted tax laws and rates. Deferred tax expenses or benefits are recognized Parent Company. The amount of current and deferred taxes is calculated as of the date of the financial return basis, and the amount of current tax or benefit calculated is either remitted to or received from the filed by the Parent Company. Federal income taxes are calculated as if the companies filed on a separate Income Taxes: The Company and its subsidiaries are included in the consolidated federal income tax return to the amount expected to be realized. {8}------------------------------------------------ # **NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** (continued) unrecognized tax positions at December 31, 2025. positions not meeting the "more likely than not" test, no tax benefit is recorded. There were no material is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be Company is not subject to examination by taxing authorities for years prior to 2022. The Company is subject to U.S. federal income tax as well as income tax of the state of Florida. The Leases: Leases are classified as operating or finance leases at the lease commencement date. Lease the date of adoption. of remaining minimum lease payments, discounted using the Company's incremental borrowing rate as of value of lease payments over the lease term. These amounts are determined based on the present value assets and lease liabilities are recognized at the lease commencement date based on the estimated present liabilities represent the Company's obligation to make lease payments arising from the lease. Right-of-use term. Right-of-use assets represent our right to use an underlying asset for the lease term and lease expense for operating leases and short-term leases are recognized on a straight-line basis over the lease Recently Issued and Effective Accounting Pronouncements: ### Segment Reporting: had a material impact on these financial statements. Related disclosure is included in note 4. business entities for annual periods beginning after December 15, 2024. The adoption of this ASU has not regarding rate reconciliation, taxes paid, and other disclosures. The amendments are effective for public enhance the transparency and usefulness of income tax disclosures by providing additional information In December 2023, the FASB issued ASU 2023-09, Income Taxes. This ASU amends ASC Topic 740 to ## **NOTE 2 - FULLY DISCLOSED CLEARING AGREEMENT** respectively, to satisfy this requirement. the Company had cash on deposit, amounting to \$500,000 and \$125,000 at Pershing and Apex, a minimum deposit balance in accounts maintained by Pershing, LLC and Apex. At December 31, 2025, accounts are cleared and carried by these clearing firms. The agreements call for the Company to maintain The Company has fully disclosed clearing agreements with Pershing LLC and Apex whereby customer 180 days written notice. Either party, Pershing or the Company, may terminate the agreement without cause upon the receipt of without cause upon 180 days written notice. cause (i) at or prior to the end of two years from the Live Date upon 90 days written notice or (ii) at any time objects and elects to terminate the agreement. Apex may terminate its agreement with the Company without any time on 30 days written notice to Apex in the event that Apex seeks to increase its fees, the Company period upon 30 days written notice. Additionally, the Company may terminate its agreement with Apex at 1, 2025 upon 90 days written notice or (ii) during any automatic renewal period following the initial two-year The Company may terminate its agreement with Apex without cause (i) at the end of two years from October condition. These deposits are included in the balance of Deposits with clearing firms in the Statement of financial {9}------------------------------------------------ ### **NOTE 3 - FAIR VALUE** value on a recurring basis in accordance with Accounting Standards Codification ("ASC") 820, market participants on the measurement date. The Company measures certain assets and liabilities at fair in the principal or most advantageous market for the asset or liability in an orderly transaction between Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) *Fair Value Measurement*. inputs. hierarchy gives the highest priority to quoted prices in active markets and the lowest priority to unobservable ASC 820 establishes a fair value hierarchy that prioritizes the inputs used in valuation techniques. The There are three levels of inputs that may be used to measure fair values: has the ability to access as of the measurement date. Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity observable or can be corroborate similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for d by observable market data. assumptions that market participants would use in pricing an asset or liability. Level 3: Significant unobservable inputs that reflect a reporting entity's own assumptions about the December 31, 2025, categorized within the fair value hierarchy: The following table presents the Company's assets measured at fair value on a recurring basis as of | | Trading assets | In thousands of dollars | |--------------|----------------|-------------------------| | \$
13,912 | 13,912 | Fair Value | | \$
13,912 | 13,912 | Level 1 | | \$
- | - | Fair Value
Level 2 | | \$
- | - | Level 3 | hierarchy. for identical securities. Accordingly, these instruments are classified within Level 1 of the fair value The trading assets include U.S. Treasury bills measured at fair value using quoted prices in active markets Due from and to affiliates, Accounts payables and accr The carrying amounts of Cash and cash equivalents, Deposits with clearing firms, Trailer fee receivables, ued expenses, and other short-term assets and not measured at fair value on a recurring basis and are therefore not included within the fair value hierarchy. liabilities approximate fair value due to the short-term nature of these instruments. These instruments are amounts approximate fair value. term nature of these instruments and their minimal credit risk, management believes that the carrying Accounts payables and accrued expenses, and other short-term assets and liabilities. Due to the shortand cash equivalents, Deposits with clearing firms, Trailer fee receivables, Due from and to affiliates, The Company's financial instruments that are not measured at fair value on a recurring basis include Cash {10}------------------------------------------------ ### **NOTE 4 - INCOME TAXES** As of December 31, 2025, the Company had a net deferred tax asset as follows: *In thousands of dollars* | Deferred tax asset | Other, net | Depreciation Expense | Deferred Compensation | |--------------------|------------|----------------------|-----------------------| | \$ | | | \$ | | 624 | 9 | 40 | 575 | No valuation allowance was considered necessary at December 31, 2025. ### **NOTE 5 - RELATED PARTIES** Balances with related parties included in the Statement of Financial Condition as of December 31, 2025: *In thousands of dollars* | Due to affiliates | Accounts payable and accrued expenses | Liabilities | | Deferred tax asset | Due from affiliates | Cash and cash equivalents | Assets | |-------------------|---------------------------------------|-------------|-------|--------------------|---------------------|---------------------------|--------| | | \$ | | \$ | | | \$ | | | 1,958 | 2,308 | | 3,970 | 624 | 779 | 2,567 | | Company. Cash and cash equivalents represents cash maintained in a demand deposit account with the Parent 4,266 \$ costs such as salaries an pays fees or receives allocation reimbursements from its Parent Company and/or affiliates, which cover that may exist if the Company operated as a stand-alone entity. In exchange for services, the Company Company is a wholly owned subsidiary of its Parent Company and operating results may differ from those The Company has entered into reciprocal service agreements with its Parent Company and affiliates. The d benefits, and occupancy. Due to affiliates represents amounts the Company Company from Its Parent Company or affiliates for such services per these service agreements. owes its Parent Company and/or affiliates and Due from affiliates represents amounts owed to the the consolidated tax return and tax overpayment which the Company is entitled to. Deferred tax asset consists primarily of balances related to tax benefits used by the Parent Company on {11}------------------------------------------------ ## **NOTE 6 – RESERVE AND POSSESSION OR CONTROL REQUIREMENTS** January 1, 2025 to December 31, 2025, without exception. "the exemption provisions" and met the exemption provisions throughout the most recent fiscal year The Company claims an exemption from 17 C.F.R.240.15c3-3(k) under Rule 15c3-3, paragraph (k)(2)(ii) ## **NOTE 7 - NET CAPITAL REQUIREMENTS** Company's aggregate indebtedness to net capital ratio was .62 to 1 at December 31, 2025. 15c3-1(a)(2)(iii) totaled \$11,129 which was \$10,673 in excess of its net capital requirement of \$456. The net capital requirement for 2025. At December 31, 2025, the Company's net capital as defined by SEA Rule indebtedness to net capital, both as defined, shall not exceed 15 to 1. The Company was above its minimum 15c3-1), which requires the maintenance of minimum net capital and requires that the ratio of aggregate The Company is subject to the Securities and Exchange Commission Uniform Net Capital Rule (SEC rule ### **NOTE 8 - LEASES** commencement date of the lease. the lease up to 10 years and an option to terminate the lease within 7 years from the contract Company's lease has a remaining term of approximately 10 years, which includes renewal option to extend The Company enters into leases in the normal course of business primarily for its operating premises. The the least term. recognized at the lease commencement date based on the estimated present value of lease payment over our obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are use assets represent our right to use an underlying asset for the lease term and lease liabilities represent operating leases and short-term leases is recognized on a straight-line basis over the lease term. Right-of-Leases are classified as operating or finance leases at the lease commencement date. Lease expense for term and other factors. borrowing rate is based on the Federal Home Loan Bank advance offering rates, adjusted for the lease value of lease payments when the rate implicit in a lease is not known. The Company's incremental The Company uses its incremental borrowing rate at lease commencement date to calculate the present classifications, are as follows: Right-of-use assets and lease liabilities by lease type, and the associated statement of financial condition {12}------------------------------------------------ #### BRADESCO INVESTMENTS INC. NOTES TO FINANCIAL STATEMENT December 31, 2025 ### **NOTE 8 - LEASES** (continued) ### Lease Obligations December 31, 2025, are as follows: Future undiscounted lease payments for operating leases with initial terms of one year or more as of | \$
762 | Net lease liabilities | |------------------|-----------------------------------| | (209) | Less: imputed interest | | \$
971 | Total undiscounted lease payments | | 602 | Thereafter | | 96 | 2029 | | 94 | 2028 | | 91 | 2027 | | \$
88 | 2026 | | Operating Leases | | | | In thousands of dollars | Supplemental Lease Information | | In thousands of dollars | |-------------------|-------------------------| | December 31, 2025 | | Operating lease weighted average discount rate 4.95% Operating lease weighted average remaining lease term (years) 9.7 ### **NOTE 9 – SUBSEQUENT EVENTS** identified. the date the financial statements were available for issuance. No material subsequent events were The Company has evaluated subsequent events for recognition and disclosure through March 19, 2026, Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.