FIGE3: quote, dividends and indicators for Investimentos BEMGE

Investimentos Bemge S.A. is a Brazilian publicly traded company with shares listed on B3 – Brasil, Bolsa, Balcão under the tickers FIGE3 and FIGE4. The company’s origins date back to 1964, when it was incorporated under the name Companhia Progresso – Goiás – Crédito, Financiamento e Investimento, headquartered in Goiânia (GO), with initial share capital of 50,000 cruzeiros. In 1965, its articles of incorporation were filed with the Commercial Registry of the State of Goiás, formalizing the company’s legal status. Over the following decades, the company underwent several changes in share control, corporate name, and headquarters, reflecting strategic shifts and its gradual integration into the Minas Gerais financial system and, later, into the Itaú Unibanco conglomerate.

In 1971, a group from the state of Minas Gerais acquired control of the then Companhia Progresso – Goiás, opened a branch in Belo Horizonte (MG), and changed its corporate name to PROGOIÁS S.A. – Crédito, Financiamento e Investimento. This move marked the transition from the company’s original geographic focus in Goiás to a closer connection with the Minas Gerais market. In 1974, control of PROGOIÁS S.A. was transferred to Banco do Estado de Minas Gerais S.A. (BEMGE), a major state-owned financial institution at the time, triggering a new corporate identity change. That same year, an extraordinary shareholders’ meeting approved the transfer of the head office from Goiânia to Belo Horizonte and the change of name to Financeira BEMGE S.A. – Crédito, Financiamento e Investimento.

Starting in the 1990s, the company’s trajectory was shaped by the privatization of Banco do Estado de Minas Gerais and its subsequent integration into the Itaú Unibanco conglomerate. On September 14, 1998, Financeira BEMGE came under the indirect control of Itaú Unibanco S.A., following the acquisition, in a privatization auction, of the controlling stake in BEMGE, then its majority shareholder. This move placed the company within a broader group of financial institutions operating in an integrated manner in the Brazilian market, led by Itaú Unibanco Holding S.A. Later, at an annual and extraordinary shareholders’ meeting held in April 2001 and approved by the Central Bank of Brazil in July of that year, an important structural change was approved: the alteration of the corporate purpose to equity and real estate investments and the new corporate name Investimentos Bemge S.A.

Since this corporate reorganization, Investimentos BEMGE’s main corporate purpose has been to support companies in which it holds equity interests, through a series of economic and corporate activities. These activities include conducting studies, analyses, and recommendations related to the operating policies and expansion projects of investee companies, supporting the planning and development of their business strategies. The company may also mobilize resources to meet additional venture capital needs of these companies, for example through subscription or acquisition of securities issued by them, with the aim of strengthening their position in the capital markets. In addition, its corporate purpose includes leasing properties that may be required by investees, as well as other related or ancillary activities of interest to these companies, except for those activities reserved exclusively to financial institutions directly regulated as such.

Despite this formal scope of activity, Investimentos BEMGE states that it does not have operating activities that would constitute distinct operating segments for financial reporting purposes. In its financial statements, there is no segmentation by products or services, and no production processes, distribution channels, or market share by specific segments are disclosed, since the company does not conduct operational activities typical of industrial, commercial, or mass service companies. Its activities are linked to the management of equity interests and assets within the context of the Itaú Unibanco conglomerate, which means that many commercial and operational relationships are conducted in an integrated manner with other companies in the group.

With regard to its client base and revenue generation, available information indicates that Investimentos BEMGE’s operations occur within a set of financial institutions that operate in a coordinated way under the leadership of Itaú Unibanco Holding S.A. No individual clients accounting for more than 10% of total net revenue are identified on a standalone basis, reflecting the nature of an investment company embedded in a larger conglomerate. Likewise, there is no disclosure of material revenue from abroad nor a breakdown by foreign country, as its activities are concentrated in the Brazilian market. The preferred and common shares of Investimentos BEMGE, traded under the codes FIGE4 and FIGE3 on B3, essentially represent an interest in an investment holding company with a narrow scope and low standalone operational dispersion.

From a regulatory standpoint, Investimentos BEMGE has been a listed company on B3 since July 1977, when its shares were admitted for trading in the Brazilian capital markets. As a securities issuer, it is subject to the supervision and regulations of the Brazilian Securities and Exchange Commission (CVM), which regulates, oversees, and sanctions the securities market in Brazil, including shares and derivatives. In addition, because it is indirectly controlled by Itaú Unibanco Holding S.A., certain regulatory requirements of the Central Bank of Brazil may apply to the company, especially those relating to prudential consolidation and oversight of the financial conglomerate. The company states that it does not hold trademarks or patents in Brazil or abroad, which is consistent with the nature of its business focused on managing equity and real estate investments.

In terms of governance and relations with the public sector, Investimentos BEMGE adopts, in alignment with the controlling conglomerate, an internal policy that prohibits electoral donations or financial contributions by legal entities to political candidates and parties, in compliance with Brazilian electoral legislation, especially Law No. 9,504/1997, as amended by Law No. 13,165/2015. The company also reports that it does not incur expenses related to public policy influence or lobbying activities, with any such initiatives being handled on a consolidated basis by Itaú Unibanco Holding S.A. This approach reflects the centralization of governance and institutional relations guidelines at the holding company level, with implications for the practices of its subsidiaries, including Investimentos BEMGE.

In the environmental, social, and corporate governance (ESG) sphere, Investimentos BEMGE states that it does not publish its own ESG report, justifying this by the absence of operating activities that would demand such specific reporting. The company is subject to the Sustainability and Social and Environmental Responsibility Policy of Itaú Unibanco Holding S.A., which guides ESG principles and practices at the conglomerate level. Thus, topics such as materiality matrix, key ESG performance indicators, consideration of the Sustainable Development Goals (SDGs), and TCFD recommendations tend to be addressed by the parent company, with no separate disclosure for Investimentos BEMGE. This structure reinforces its role as an investment vehicle with low direct operational exposure, whose performance and risks are more closely related to asset management and its position within the Itaú Unibanco group than to large-scale own operations.