Exhibit 99.1

Content

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Comments on performance

Dear Shareholders,

We hereby submit for your consideration the condensed parent company and consolidated interim financial information of BRBI BR Partners S.A. (“Company”) for the third quarter ended September 30, 2025.

We highlight the following facts in the third quarter of 2025:

Economic context

The 3Q25 was marked by the gradual transition of the global monetary policy cycle, with the first concrete signs of easement in the United States, Europe still in a wait-and-see mode, China combating deflationary pressures, and Brazil in a prolonged pause, maintaining high interest rates in the face of persistent inflation. The international environment continued to be influenced by the U.S. tariff escalation and the political impacts of elections in various countries, in a context where asset volatility remained high and capital flows to emerging markets showed moderate recovery. In the markets, the 3Q25 was characterized by adjustments in global interest rate curves, appreciation of the US dollar, slight corrections in international stock markets, and an increase in metal commodities, driven by targeted stimulus in China and a reflection of the balance between supply and demand. Despite this environment, global growth maintained a moderate pace, with downward revisions for global GDP due to the slowdown in Europe and the persistent weakness of Chinese demand.

In Brazil, 3Q25 consolidated the scenario of resilience in domestic activity in the face of an still restrictive monetary environment. The Central Bank kept the Selic rate at 15.0% per year in the meetings of July and September, reinforcing the message of prudence and highlighting the importance of observing the convergence of inflation before starting a new cut cycle. The IPCA accumulated a rise of 4.9% in 12 months up to September, slightly above the target, driven by underlying services and administered adjustments, such as energy and health plans. The inflation of industrial goods continued to show moderation, reflecting the drop in commodity prices and a relatively stable exchange rate. The job market remained tight, with an unemployment rate of 5.6% 3Q25, the lowest level in the historical series, supporting real wage growth and household consumption. GDP is expected to grow by about 0.6% in 3Q25, driven by services and the agricultural sector, while the industry continues to recover gradually. On the other hand, the fiscal policy remained at the center of the debate: the primary accumulated deficit over 12 months reached 0.8% of GDP, reflecting an increase in mandatory expenses and disappointment in revenue from state-owned companies’ dividends. The government sought to offset part of this imbalance with targeted revenue measures and expenses cuts, but the perception of fiscal risk still limits the room for a more significant decrease in interest rates.

In Europe, 3Q25 was marked by the maintenance of a restrictive monetary policy and consolidation of a scenario of moderated inflation, although still above the target. The European Central Bank kept the interest rate at 2.0%, highlighting that disinflation has been progressing, but this process still requires caution. Inflation in the eurozone dropped to 2.2% in September, after reaching 2.5% in July, reflecting the slowdown in energy and food prices. Wages showed a faster cooling than expected, helping to anchor inflation expectations for 2026 close to the 2.0% target. In terms of activity, the eurozone’s GDP grew 0.4% in 3Q25, driven by the gradual recovery of domestic demand in Germany and the fiscal investment package in infrastructure, which continued to support the construction industry and the renewable energy sector. Still, the block remains vulnerable to external shocks, especially to trade disputes with the United States. The threat of new tariffs on European vehicles and chemical products remains on the radar, potentially causing a significant impact on the statement of financial position of the continent.

In the United States, 3Q25 marked a turning point in monetary policy, with the Federal Reserve implementing the first interest rate cut since December 2024. The Fed Funds rate was reduced by 0.25 percentage points, to a range between 4.00% and 4.25%, in a unanimous decision that reflected the assessment that the risks of keeping the policy too tight outweighed those of a premature easing. The job market showed new signs of moderation, with an unemployment rate of 4.3% in August and net job creation below expectations.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Comments on performance

Inflation continued to decline, with the 12-month CPI at 2.9% and the core at 3.1%, reinforcing the perception that the disinflation process is underway, although it still depends on a slowdown of consumption. GDP grew by 0.5% in 3Q25, maintaining a trend of moderate expansion, with household consumption and corporate investments showing some loss of momentum. Despite the interest rate cut, the yield curve of Treasuries remained inverted, reflecting the view that the Fed may continue to gradually reduce interest rates throughout 2026. In the commercial plan, the U.S. government intensified its tariff policy, raising taxes on imports from Brazil, China, and the European Union, with the stated goal of protecting strategic sectors and reducing external dependencies. These measures increased the risk of retaliation and heightened uncertainty about global supply chains. Still, the U.S. economy maintained solid fundamentals, with converging inflation, resilient consumption, and a stabilized housing market.

China went through the 3Q25 facing the challenge of reversing the deflationary situation and reviving the real estate market, which is still marked by low confidence and excess inventory. China’s GDP grew 4.5% year-on-year, slightly below the pace observed at the beginning of the year, with a slowdown in domestic consumption and exports pressured by weak global demand. The CPI recorded a negative change of 0.3% in September, while the PPI dropped 2.3%, signaling that deflationary pressures remain widespread. The central government adopted new fiscal and monetary policy, including credit expansion through state banks and increased investments in infrastructure, especially in coastal provinces. However, the response from the private sector remains limited by distrust in the real estate sector, where sales continue to decline and residential property prices have decreased in more than 70% of the monitored cities. On the external front, the partial reduction of tariffs imposed by the United States on Chinese products, now averaging 30%, helped to ease industrial exports, which grew by 2.1% in the 3Q25.

Business performance

In the 3Q25, in the Financial Advisory area, we continued to feel the impacts of the restrictive monetary policy and uncertain fiscal and political scenario on our activities. Although we have still achieved a healthy revenue level, we announced three transactions in the area, which were: i) the advisory to Banese in the agreement with Mongeral Aegon (MAG) for the marketing and distribution of insurance products; ii) the advisory to the board of directors of Cosan for the capital increase through new shares; iii) and in the advisory to Kovr Seguradora regarding its sale to the company’s executives. We emphasize that we are still working with a very diversified and large portfolio, but that, given the adversities in the international trade scenario and the challenges in the local economy mentioned above, is becoming more difficult to convert transactions. 

The Capital Markets area maintained a sound activity during the 3Q25, taking advantage of the strong demand from issuers for debt products, especially incentivized products in our case, as well as a strong demand among fixed income investors for the primary market.  The area structured 8 debt operations, including CRIs, CRAs, Debentures, and FIDCs, totaling a volume of R$ 1.7 billion in issues in the period.

The Treasury area for clients (Treasury Sales & Structuring) recorded a robust result, driven by strong debt issuance activity in the primary market during the period, as well as the maintenance of risk management activities for clients. In 3Q25, the volume traded in derivatives and foreign exchange reached R$ 7.9 billion.

At BR Partners Banco de Investimento S.A. (“Bank”), the Company continued promoting the asset portfolio, while investing in products originated by the Capital Markets area, and ended the 3Q25 with a portfolio of R$ 3.6 billion in private securities and Bridge Loans. It is important to point out that 100% of this portfolio is made up of securities from companies for which BR Partners acts as a debt structurer, and therefore it thoroughly analyzes the risk of each issuer.

The Wealth Management area continues with healthy activity and finding growth opportunities, with the prospecting and onboarding of new clients. At the end of September 2025, the assets under management reached R$ 5.9 billion, accounting for an increase of 25% compared to the end of September 2024.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Comments on performance

In addition to the operational context, on September 17, 2025, negotiations for the Level II American Depositary Receipt (“ADR”) program began on Nasdaq Inc., backed by four (4) units listed on B3 (“BRBI11”). Therefore, the Company continues its listing on B3 (Brazil) and has begun to be listed on the North American stock market through American Depositary Receipts (ADRs), via a ticker (Nasdaq: BRBI), denominated in US dollars, with trading and settlement mechanisms compliant with Nasdaq regulations, as well as local legislation and oversight.

It is worth highlighting that the Level II ADR program does not grant any offer of shares or any increase in the Company’s share capital or fundraising.

Consolidated financial performance

Despite the still challenging macroeconomic scenario, total revenues reached R$ 133.3 million in 3Q25, compared to R$ 157.7 million in 3Q24, reflecting a negative change of 15.5%. Net income reached R$ 42.2 million, compared to R$ 50.1 million in the 3Q24, accounting for a -15.8% decrease over the previous year. The return on shareholders’ equity was 20.9%. The Company ended the year with shareholders’ equity of R$ 809.6 million.

Policy on reinvestment and distribution of dividends

The Company does not have a formal policy on reinvestment by its shareholders; all reinvestments verified thus far were deliberated by the shareholders at the AGM/EGM.

The Company’s dividend policy provides for the annual distribution of the mandatory minimum dividend of 25%. However, the Company intends to remunerate its shareholders according to the calculation of the profits earned during the year, making its best efforts to distribute dividends at a higher percentage that established by current legislation.

Social initiatives

The Company supports, through tax incentive laws, non-governmental organizations with projects mainly related to health, education, sports, diversity and gender equity.

Relationship with independent auditors

Pursuant to the provisions of CVM Resolution 162/22 of the Brazilian Securities and Exchange Commission, the Company has an established policy and process for hiring an independent audit, considering aspects of transparency, compliance, objectivity and independence. Furthermore, aspects of potential conflicts of interest when engaging the same audit company for services of other natures are assessed to mitigate risks of loss of independence or objectivity in the performance of its activities. Information related to audit company fees is made available annually in our Reference Form.

Executive Board

Accountant

Hideo Antonio Kawassaki

CRC 1SP 184007/O-5

The Capital Market maintained a sound activity during the quarter, taking advantage of the stronger demand for

KPMG Auditores Independentes Ltda.

Rua Arquiteto Olavo Redig de Campos, 105, 12º andar - Torre A - 04711-904 - São Paulo/SP - Brazil

Caixa Postal 79518 - CEP 04707-970 - São Paulo/SP - Brazil

Telephone +55 (11) 3940-1500, Fax +55 (11) 3940-1501

www.kpmg.com.br

Independent auditors’ report on the condensed parent company and consolidated interim financial information

To

The Shareholders and Board of Directors of

BRBI BR Partners S.A. (formerly known as “BR Advisory Partners Participações S.A.”)

São Paulo - SP

Introduction

We have reviewed the condensed parent company and consolidated interim financial information of BRBI Partners S.A. (“Company”), formerly known “BR Advisory Partners Participações S.A.”, contained in the Quarterly Information – ITR Form for the quarter ended September 30, 2025, which comprise the statements of financial position as of September 30, 2025, the statements of profit or loss and comprehensive income for the three and nine-month period then ended, of changes in shareholder’s equity and cash flows for the nine-month period then ended, including the explanatory notes.

Management is responsible for the preparation and presentation of this parent company and consolidated condensed interim financial information in accordance with CPC 21(R1) and international standard IAS 34 – Interim Financial Reporting, issued by the International Accounting Standards Board – (IASB), as well as for the presentation of this information in accordance with the standards issued by the Brazilian Securities and Exchange Commission, applicable to the preparation of the Interim Financial Information (ITR). Our responsibility is to express a conclusion on these condensed parent company and consolidated interim financial information based on our review.

Scope of the review

We conducted our review in accordance with Brazilian and international review standards applicable to interim financial information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion on the condensed parent company and consolidated interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed parent company and consolidated interim financial information as of September 30, 2025 is not prepared, in all material respects, in accordance with CPC 21(R1) and IAS 34, applicable to the preparation of interim financial information and presented in accordance with the standards issued by the Brazilian Securities and Exchange Commission.

Other matters - Statements of Value Added

The condensed parent company and consolidated interim financial information includes the parent company and consolidated statements of value added for the nine-month period September 30, 2025, prepared under the responsibility of Company’s management and presented as supplementary information for IAS 34 purposes. These statements have been submitted to review procedures performed together with the review of the quarterly financial statements to conclude whether they are reconciled to the condensed parent company and consolidated interim financial information and accounting records, if applicable, and whether their form and content are in accordance with the criteria set by Technical Pronouncement CPC 09 - Statement of Value Added. Based on our review, we are not aware of any fact that leads us to believe that these statements of value added have not been prepared, in all material respects, according to the requirements of this Standards and in a manner consistent with the condensed parent company and consolidated interim financial information taken as a whole.

São Paulo, November 6, 2025

RC

KPMG Auditores Independentes Ltda.

CRC 2SP-014428/O-6

Original report is Portuguese signed by

Marco Antonio Pontieri

Accountant CRC 1SP153569/O-0

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Condensed statements of financial position as of September 30, 2025 and December 31, 2024

(In thousands of reais)

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Condensed statements of financial position as of September 30, 2025 and December 31, 2024

(In thousands of reais)

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Condensed statements of profit or loss for the three and nine-month period ended September 30

(In thousands of reais)

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Condensed statements of changes in shareholders’ equity for the nine-month period ended September 30

(In thousands of reais)

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Consolidated statements of changes in shareholders’ equity for the nine-month period ended September 30

(In thousands of reais)

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Condensed statements of cash flows for the nine-month period ended September 30

(In thousands of reais)

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Condensed statements of value added for the nine-month period ended September 30

(In thousands of reais)

See the accompanying notes to the condensed individual and consolidated interim financial statements.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

BRBI BR Partners S.A. (“Company” or “Parent Company”, and jointly with subsidiaries, “BR Partners Group” or “Group”), formerly “BR Advisory Partners Participações S.A.” is a publicly-held corporation, headquartered at Avenida Brigadeiro Faria Lima nº 3.732 – 28º floor, in the city of São Paulo, State of São Paulo, and shares traded in units on B3 S.A. - Brasil, Bolsa, Balcão (“B3 S.A.”), under the ticker BRBI11. Each unit of ownership consists of 2 preferred shares and 1 common share of the Company.

The Company is engaged in investing in other companies, domestic or foreign, as a partner, unitholder or shareholder and management of our own assets. Its control is exercised by BR Partners Holdco Participações S.A. (“Holdco”), which represents 35.59% of the common shares and 29% on September 30, 2025 (55.01% at December 31, 2024) of the Company’s total share capital.

On March 21, 2025, BR Advisory Partners Participações S.A. changed its name to BRBI BR Partners S.A.

On August 29, 2025, BR Partners Holdco Participações S.A. - the parent company of the Company - completed the process of partial spin-off of its investments in the subsidiary, resulting in a change in its shareholding in the Company from 55.01% to 29%, without any change in the previously exercised share control.

The Group is part of a context of businesses related to investment banking, capital markets, treasury for clients, investments and wealth management.

The condensed parent company and consolidated interim financial information was prepared in accordance with Technical Pronouncement CPC 21 (R1) – “Interim Financial Reporting”, issued by the Accounting Pronouncement Committee (“CPC”) and approved by the Brazilian Securities and Exchange Commission (“CVM”) and IAS 34 – Interim Financial Reporting, issued by the International Accounting Standards Board (“IASB”). All material information specific to the condensed parent company and consolidated interim financial information, and only thereto, is being ascertained, and corresponds to the information used by Management in managing the company.

The information regarding the basis for the preparation and presentation of the condensed parent company and consolidated interim financial information, as well as summary of material accounting policies did not undergo material changes in relation to those disclosed in the Company’s parent company and consolidated financial statements for the year ended December 31, 2024, which should be read together.

The Company’s condensed interim financial information was approved by the Board of Directors on November 6, 2025.

The condensed parent company and consolidated interim financial information is presented in thousands of Reais, which is the Company’s functional currency.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

Transactions in foreign currencies are converted into functional currency by using foreign exchange rates prevailing on the transaction or valuation dates when the items are remeasured. Exchange gains and losses resulting from the settlement of those transactions and from the translation at year-end exchange rates referring to monetary assets and liabilities in foreign currencies, are recognized in the statements of profit or loss in the “Interest revenues and gains on financial instruments” or “Interest expenses and (losses) on financial instruments” captions.

Exchange gains and losses resulting from the settlement of those transactions and from the conversion at each period-end exchange rates referring to monetary assets and liabilities in foreign currencies, are recognized in condensed parent company and consolidated interim financial information as interest revenues or expenses and gains on financial instruments. For investments abroad that have a functional currency other than the Real, the effects of the translation are recorded in shareholders’ equity under “Other Comprehensive Income”.

In the process of interim financial information consolidation, equity interests, asset and liability account balances, revenues, expenses and intercompany unrealized income were eliminated.

We highlight the subsidiaries (direct and indirect) included in the condensed parent company and consolidated interim financial information:

In the preparation of this condensed parent company and consolidated interim financial information, Management used judgments and estimates that affect the Group’s application of accounting policies and amounts reported of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on a continuous basis. Revisions to estimates are recognized prospectively and information on judgments is continuously reviewed by an annual basis by the Management areas.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

Fair value of financial instruments

Financial instruments recorded at fair value in our parent company and consolidated financial statements are mainly comprised by financial assets measured at fair value through profit or loss, including derivatives and financial assets measured at fair value through other comprehensive income. The fair value of a financial instrument corresponds to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date.

Financial instruments are categorized within a hierarchy based on the lowest level of information, which is significant for measuring fair value. For instruments classified as Level 3, we use our own judgment to arrive at the fair value measurement.

We base our judgment decisions on our knowledge and observations of the markets relevant to the individual assets and liabilities, and those judgments may vary based on market conditions. In applying our judgment, we look at a range of third-party prices and transaction volumes to understand and assess the extent of market benchmarks available and the judgments or modeling required in third-party processes.

Based on these factors, we determine whether the fair values are observable in active markets or whether the markets are inactive. Imprecision in estimating unobservable market inputs can impact the amount of revenue or loss recorded for a particular position. Furthermore, while we believe our valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value on the reporting date. For a detailed discussion of the determination of fair value of financial instruments please, see Note 20.

In the normal course of its operations, the Group is exposed to several financial risks, which are divided into: market, credit, liquidity and capital management. The Group’s risk management policies aim to define a set of principles, guidelines and responsibilities that guide activities relevant to risk management, in line with the business strategy of companies that are part of the BR Partners Group. These risks rely on a policy framework and the following committees: Risk and Compliance Committee, Credit Committee, Risk Committee and the Assets & Liabilities Committee (ALCO) and Underwriting Committee, observing their responsibilities and duties. For the effectiveness of risk management, the framework provides for the identification, assessment, monitoring, control, mitigation and correlation between risks. Limits are monitored by the Risk Management area. The Risk Management area reports directly to the Executive Board, therefore acting independently from the business areas.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

Capital is managed by BR Partners Group Management and aims to ensure that the analysis of capital sufficiency (Basel ratio) is performed in an independent and technical manner, considering existing risks and those included in strategic planning.

In the period ended September 30, 2025 and year ended December 31, 2024, the limits are classified according to the minimum amount required by the Brazilian Central Bank (minimum required is 10.5%).

Market risk is defined as the possibility of incurring losses due to adverse fluctuations in prices, market rates, shares and commodities in the Group’s portfolio positions. Market risk management is defined as the continuous process of identifying, measuring, evaluating, mitigating, monitoring and reporting exposures arising from positions held in foreign exchange, interest rates, shares and commodities, with the objective of keeping them within the regulatory and management limits that are established in the respective internal committees and reported to the Executive Board.

The Group segregates its exposure to market risk between the Trading and Banking portfolios. The Trading portfolio includes proprietary positions, which are represented by financial instruments (assets and liabilities) managed based on fair value. The banking portfolio is predominantly characterized by banking business operations and related to the management of the Group’s active (securities) and passive (funding) financial instruments.

The Assets and Liabilities Committee (“ALCO”) is responsible for setting limits for each type of risk in aggregate and by type of portfolio, mitigating and preventing exposure to market risk. The market risk policy, reviewed annually, defines the market risk management framework.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

The main types of risk in this portfolio are exchange rates, interest rates, price indices and inflation rates. The tool used to measure and control exposure to market risk in the Group’s trading portfolio is Value-at-Risk (“VaR”). The VaR of a trading portfolio is the estimated maximum loss that can occur with a specified probability (confidence level) over a given period, considering adverse market changes. The VaR model used by the Group is parametric, based on a 99% confidence level for daily losses.

The VaR model used is based on a parametric approach, with daily volatilities calculated for each risk factor using the EWMA (“Exponentially Weighted Moving Average”) methodology, applying a Lambda factor of 0.96 (based on an effective period of 126 observations). Furthermore, the correlation between the daily returns of the risk factors is calculated, resulting in the creation of a correlation matrix that is applied to calculate the portfolio’s VaR.

Although VaR is an important tool for measuring market risk, the assumptions on which the model is based have some limitations, including:

The general structure of VaR limits is subject to review and approval by ALCO and is measured daily to ensure proper monitoring of market risk. Monthly reports are submitted to ALCO for approval and backtesting is also carried out to validate the calculated models.

Presentation of Values at Risk (in the period/year) - Trading Portfolio

The main risk to which the Banking portfolio is exposed is the risk of loss due to fluctuations in future cash flows or in the fair value of financial instruments due to a change in market interest rates, price indices and inflation rates. ALCO is the committee responsible for monitoring and complying with the daily limits for this portfolio.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

Banking portfolio risks are calculated based on the contractual cash flows of eligible financial instruments, using the Delta NII methodology, as established by the regulator. The sensitivity analysis for instruments in the Banking portfolio subject to market risk starts with the classification of exposures by risk factors. The Group applies parallel shocks to the respective yield curves as a sensitivity analysis methodology, monitoring the behavior of exposures and the gaps of each risk factor. The methodology used to define the reasonably possible changes in risk factors for a period of 1 year considers probability intervals of 95% and 99%, based on a historical period of 10 years for each risk factor. Aiming to analyze sensitivity, possible stress scenarios were defined, the shocks of which were applied to the operations contained in the Banking portfolio, considering the changes that would negatively affect the Group’s positions, based on market data on the respective dates.

The shocks used in each scenario are described below (Delta NII in thousands of reais):

Interest rate

The risk factors relate to financial instruments (assets and liabilities) that are sensitive to changes in interest rates. The shocks were calculated considering the cash flows of these financial instruments.

Price Index/Inflation Rate

These are exposures sensitive to changes in coupon rates related to price indices and inflation rates. The shocks were calculated on the cash flows of the financial instruments (assets and liabilities).

Credit risk is defined as the possibility of losses associated with the failure, on the part of the borrower or counterparty, to meet their respective financial obligations under the agreed-upon terms, devaluation of the credit agreement resulting from the deterioration in the classification of the borrower’s risk, reduction of gains or remuneration, advantages granted in the renegotiation, and costs of recovery. Measurement and follow-up of exposure to credit risk includes all financial instruments capable of generating counterparty risk, such as private securities, derivatives, guarantees granted, and eventual risks of settlement of operations, among others.

The Group has an internal model to assign credit risk ratings to its clients, which considers their size, the nature and complexity of their operations and their risk profile. Accordingly, the main factors considered when constructing the internal rating include the business risk profile, financial risk profile and adjustment factors (financial policy, liquidity, influence of the economic group, etc.).

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

The criteria adopted to characterize default include delays in the payment of principal or charges, deterioration in the credit rating of the counterparty according to internal criteria, based on the initial credit analysis of the counterparty, and other factors that may indicate a reduction in financial capacity to meet obligations under the agreed conditions, without the need to resort to guarantees. The estimates of losses due to default are based on the value at risk, the probability of default, and the expected losses from default, taking into account all recovery efforts.

Liquidity risk is the possibility that the Group may not be able to efficiently meet its expected and unexpected (current and future) obligations, including those arising from binding guarantees, without affecting its daily operations and incurring material losses. Additionally, liquidity risk is the possibility that the Group may not be able to trade a position at market price due to its large size in relation to the usually traded volume, or due to market discontinuity. The liquidity risk controls aim to identify what the impacts on the Group’s cash would be given the application of adverse scenarios under liquidity condition. These impacts consider both internal and external factors of the Group. The Group’s cash is centrally managed by the Treasury area. The control of liquidity risk at BR Partners Group is carried out by the Risk area and the ALCO through tools such as the Liquidity Risk Contingency Plan, the Minimum Liquidity Reserve, control of cash depletion, daily assessment of operations with a term of less than 90 days, and the application of stress scenarios in the Group’s liquidity conditions.

Exposure to liquidity risk

We present below the contractual maturities of financial assets and liabilities. These amounts are gross and include accrual of contractual interest.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)

A summary of the Group’s exposure to foreign exchange risk is presented below, highlighting that the amounts in reais may differ from the figures presented in the condensed consolidated interim financial information.

BRBI BR Partners S.A. (formerly “BR Advisory Partners Participações S.A.”)

Notes to the financial statements

(In thousands of reais)