XP Control LLC Decreases Stake in XP Inc. Following Repurchase Right Exercise

On July 7, 2026, XP Control LLC and Guilherme Dias Fernandes Benchimol filed Amendment No. 6 to their Schedule 13D regarding XP Inc. (XP). The filing reports a decrease in beneficial ownership from 101,752,469 Class A common shares to 96,797,602 shares, representing approximately 18.7% of the class. This reduction occurred on July 2, 2026, when XP Control LLC exercised a repurchase right to acquire non-voting interests held indirectly by an individual referred to as Gabriel. To facilitate this, XP Control LLC converted 4,954,867 Class B common shares into Class A common shares and subsequently transferred those shares to Gabriel's investment vehicle. The reporting persons indicated that further decreases of up to 2,815,465 Class A common shares could occur if the repurchase right is exercised in full. Despite the transfer, the reporting persons maintain significant influence, with Class B shares carrying ten votes per share. No other present plans or proposals were reported in connection with this transaction.