Creditas Auto was born with the objective of strengthening the relationship with our customers, providing consumers with a solution to buy, sell and trade a car. There are clear synergies with our lending and insurance operation, with Creditas Auto becoming our best auto finance loan originator. However, during the business expansion, we realized that we could be more efficient with a more agile business model that help us leverage the relationship with our partners and focus on intermediating the purchase of a car.During the next months we will migrate the business model of Creditas Auto to focus our efforts on C2C transactions (purchase of cars between individuals) and the optimization of the process to support the sale of our customers of Auto Equity and Auto Fin. This change has the objective of strengthening our business of lending and insurance, and will be possible thanks to the expertise achieved in our ibuyer model through Creditas Auto.

The implications of these changes are:

• We will discontinue our car reconditioning center, starting operations with third parties from now on, allowing us to be more efficient in our processes.

• With the lower need of inventory associated with the new model of Creditas Auto, we will reduce the number of physical stores from 6 to 3 over the next months.

For all the teams involved in Creditas Auto, we will have a migration plan towards the new model of Creditas Auto, and transitions to different areas that will be discussed with their respective leaders.