Méliuz (CASH3) approved at a board meeting held on Wednesday, August 5, 2026, a new share buyback program of up to 8,105,834 common shares, representing 10% of the shares outstanding. The decision takes into account, among other factors, adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of R$ 109.6 million in the last 12 months through the second quarter of 2026, net assets of approximately R$ 258.8 million in fiat currency and Bitcoin, and the absence of indebtedness.
The board also approved the cancellation of the 9,131,725 shares purchased in the buyback program launched in October 2025, completed in nine months. As a result, Méliuz’s share capital is now divided into 104,171,852 common shares, the number of shares outstanding was reduced by 8.1%, and shareholders who remained on the register since the start of the program gained 8.46% in ownership stake, in addition to an 8.46% return in Bitcoin since the beginning of the buyback, or 11.43% on an annualized basis.
Under the new program, the company or its subsidiaries may acquire shares over a period of up to 18 months, from August 5, 2026 to February 5, 2028, using funds from profit or capital reserves, where applicable, when shares are purchased directly on the exchange. Transactions may be carried out on B3 or through derivatives referenced to Méliuz’s own shares, initially with cash-settled settlement only, with Itaú Corretora de Valores and BTG Pactual CTVM acting as intermediary institutions. The company states that it currently holds no treasury shares and that the buyback will not affect its ownership structure or compliance with obligations to creditors.
In parallel, Méliuz announced the expansion of its Bitcoin treasury strategy, with the goal of increasing long-term exposure to the asset on a per-share basis. The company may assess, in an integrated manner, its position in fiat currency, its Bitcoin holdings and related financial instruments to support share buyback programs, adjust its capital structure or increase its economic exposure to Bitcoin when it deems conditions attractive.
The company may also use derivatives referenced to Bitcoin, such as buying call options, selling covered calls and selling cash-secured puts, without the use of leverage. According to management, this evolution in treasury management is intended to provide more flexibility and discipline in capital allocation, with a focus on creating shareholder value and increasing long-term exposure to Bitcoin on a per-share basis.
