B1003 Companhia Brasileira de Serviços Financeiros

Companhia Brasileira de Serviços Financeiros is a publicly held corporation, with common shares traded on B3 under the ticker ADMF3, in the Novo Mercado segment. The company was originally incorporated on August 24, 2023, in São Paulo, as a limited liability company under the name Reag 53 Participações Ltda. It later went through a corporate reorganization and change of legal form, being converted into a joint-stock company on February 23, 2024, when it adopted the name Reag Trust S.A. Over the course of 2025, the company changed its corporate name to CIABRASF – Cia. Brasileira de Serviços Financeiros S.A. and, subsequently, to its current name, consolidating its corporate identity as a holding company focused on the financial and fiduciary services segment.

From the regulatory and capital markets standpoint, Companhia Brasileira de Serviços Financeiros obtained, on September 11, 2024, its securities issuer registration with the Brazilian Securities and Exchange Commission (CVM), initially as a Category B issuer, which was later converted to Category A on November 26, 2024. On February 12, 2025, B3 granted the company’s request for listing and admission of its shares to trading on the Novo Mercado, with trading starting on February 28, 2025 under the ticker ADMF3 and trading name CIABRASF. This move places the company among those listed on B3, subject to the governance practices required by the segment with the highest listing standards on the Brazilian exchange.

The company’s recent corporate trajectory involves significant acquisition, partial spin-off, and reorganization transactions. In May 2024, Arandu Investimentos S.A. (the new name of Reag Investimentos S.A.) acquired all shares of Companhia Brasileira de Serviços Financeiros, which became its wholly owned subsidiary. Subsequently, at meetings held in June 2024, the partial spin-off of Arandu was approved, with the spun-off assets being merged into the company, which structured part of its asset base and equity interests. In 2025, a broader corporate reorganization was implemented in the context of the sale of the controlling stake to B100 Controle e Participações S.A., the controlling holding company of Grupo Planner, culminating in January 2026 with B100 holding approximately 96.93% of the company’s total capital stock and integrating the company into Grupo Planner.

The corporate purpose of Companhia Brasileira de Serviços Financeiros is centered on holding, directly or indirectly, equity interests in legal entities in Brazil and abroad that operate in the management of securities portfolios. This activity involves, among others, the provision of fiduciary administration services, asset management, protection and defense of rights and interests of investors in financial transactions, as well as acting as fiduciary intervenor, manager, revenue administrator, and supervisory agent. In practice, the company is structured as a pure holding company, whose value creation is tied to its stakes in operating companies specialized in fiduciary services, asset management, and distribution of securities, rather than maintaining direct operations with end clients.

Among the main subsidiaries, the company highlights vehicles dedicated to managing equity interests and operating financial services entities. CIABRASF Participações Ltda., a wholly owned subsidiary based in São Paulo, focuses on investing in and managing interests in other companies, domestic or foreign, in addition to managing the resources of its subsidiaries. REAG Trust Administradora de Recursos Ltda. concentrates on providing asset management and fiduciary services, playing a relevant role as fiduciary administrator of Brazilian private equity funds (FIPs), receivables investment funds (FIDCs), and multimarket funds. REAG Trust Distribuidora de Títulos e Valores Mobiliários S.A. is dedicated to managing third-party portfolios, securities, and financial instruments and to administering investment funds, operating as a distributor of financial services. This structure is complemented by REAG Trust Holding Financeira Ltda., which consolidates the stake in the distributor, and CIABRASF Partners Ltda., focused on investing in and managing equity interests.

The business lines of Companhia Brasileira de Serviços Financeiros’ subsidiaries are concentrated in two main areas: fiduciary services and distribution of securities. In fiduciary activities, operations involve managing and administering financial assets on behalf of third parties based on regulated trust relationships, covering administration, custody, bookkeeping, distribution, foreign exchange transactions, and services for non-resident investors. In the area of securities distribution, operations include administration and distribution of investment funds, custody, bookkeeping, and controllership functions related to the capital markets. This positioning places the group in a specialized segment of the financial system, linked to the growth of the fund industry in Brazil and to investment intermediation through platforms and structures regulated by the CVM and the Central Bank of Brazil.

Up to the end of the fiscal year on December 31, 2024, Companhia Brasileira de Serviços Financeiros did not yet hold interests in operating companies, having effectively become a holding company with equity stakes only in April 2025, after the capital increase carried out that year. Consequently, in 2024, there was no consolidation of subsidiary results or material operating revenue, with its financial performance characterized by corporate maintenance and financial expenses. Due to its nature as a holding company, the company’s activities do not require specific government authorizations for the exercise of its equity holding functions, even though its subsidiaries operate in regulated segments of the capital markets.

In terms of environmental, social, and governance practices, Companhia Brasileira de Serviços Financeiros approved, in February 2024, an ESG Policy that guides its internal guidelines on the subject. The holding’s direct activities are considered to have low environmental impact, which is why there is, to date, no adherence to international environmental protection standards nor preparation of greenhouse gas emissions inventories. The company does not, as of the reference date of the information, publish an annual sustainability report or specific ESG document, although it is in the process of gradually implementing the guidelines set out in its internal policy. There is also no record of financial contributions to political parties, candidates, or public policy advocacy activities, which defines a limited political exposure profile aligned with an institutional stance more restricted to the corporate and regulatory environment typical of companies listed on B3.

The presence of Companhia Brasileira de Serviços Financeiros in the Brazilian capital markets, through the ADMF3 shares on B3’s Novo Mercado, combined with the technical specialization of its subsidiaries in fiduciary services, asset management, and fund distribution, positions the group in a specific niche of the financial sector. Its focus on a holding structure and on interests in regulated portfolio and fund management companies allows it to operate as a corporate platform to consolidate businesses targeting the investment market, without operating directly as a bank or insurer, but fully integrated into the financial and capital markets ecosystem in Brazil.