Shareholders approve corporate reorganization and Inter’s migration to Nasdaq

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Next Steps – Option Period

The next step for the implementation of the transaction and the listing on the Nasdaq is the Option Period, during which shareholders must decide whether they wish to receive their ordinary, preferred or Unit shares as BDR level. I, backed by Class A shares issued by Inter Platform (“BDR option“), or if they wish to receive the amount in cash in accordance with the valuation report prepared by PwC. The amount defined is R $ 45.84 per redeemable preferred share, corresponding to 3 (three) times the value per preferred and / or common share of Inter (“Opt-out option“).

See below for the main strengths of the two options:

BDR option:

  • Shareholders wishing to receive BDRs will not need to complete a specific form.
  • Shareholders who elect to receive the BDRs may, shortly thereafter, convert the BDRs into Class A shares directly. A brokerage firm allowing clients to buy and sell shares in the United States will be required to convert BDRs. Inter announced last Friday that they would launch their free international real estate broker on the Super App later this year.
  • The conversion of RDBs will be subsidized by Inter for 30 days.
  • Shareholders opting for the BDR Option may trade their shares issued by Inter on B3 until the effective implementation of the Company Reorganization, at which date the BDRs will then be delivered.

Withdrawal option:

  • The Cash Out option was created to allow the exit of investors whose mandates do not allow to hold BDRs or shares abroad.
  • A maximum limit of 2 billion reais has been defined for the Cash Out option; this means that if this limit is exceeded, the Corporate Reorganization will not be implemented. Therefore, if the majority chooses to receive the amount in cash, the shareholders who have opted for the Cash Out do not receive the amount.
  • Shareholders who opt for Cash Out will not be able to trade their shares issued by Inter on B3 from the last day of the option until the effective implementation of the Corporate Reorganization, date on which they will receive the amount. corresponding to Cash Out.

During the Option Period, shareholders who have chosen the Cash Out Option may migrate to the BDR Option and vice versa, if this possibility is provided for by the shareholder’s custodian. After the option period, there will be no migration between the two options. The shareholder who does not elect during the Option Period, or does not follow the procedures which will be published by Inter to exercise the Withdrawal Option, or who exercises the Right of Withdrawal, will receive the BDR Option.

Reposition Inter as a global player, listed alongside global players

The corporate reorganization process is strategic for Inter, its customers, partners and shareholders. The objective is to reposition Inter as a global player and to replicate its successful business model implemented in Brazil in several other countries, starting with United States. The first steps in this direction were taken with the recently announced acquisition of USEND. Inter will have the advantage of having a strong structure and customer base, accelerating the process to become a fully-fledged global digital platform.

Listing the shares on the Nasdaq will give Inter access to the largest capital market in the world, allowing the Company to increase its investment capacity and growth in all sectors of activity under a structure of more efficient capital and greater liquidity. It will also allow participation in future expansion opportunities in international markets, such as the acquisition of strategic assets, consolidation and business combinations.

Important milestones in Inter’s performance

  • More than 15 million customers, with an average of 33,000 new accounts opened per working day
  • 2 million investors at Inter Invest, with 60 billion reais in assets under custody
  • 700,000 active insurance customers at Inter Seguros, which offers a portfolio of 18 products
  • 2.4 million active customers in the last 12 months at Inter Shop, who can purchase over 279,000 available products without leaving the Super App
  • 1 million SME clients and Individual Micro-Entrepreneurs (MEI) at Inter Empresas

Additional information

Inter would like to thank its shareholders for approving the reorganization of the company during the EGM. For more information on the next steps, follow our social networks or our Investor Relations website: ri.bancointer.com.br.

About Inter
More than a digital bank, it’s a great application that simplifies people’s lives: Inter has reinvented itself and creates everyday products and services for its more than 15 million customers, whether it is to manage people’s finances, shopping online or earning cashback. Everything is gathered in the same application; it’s simple and completely digital. Inter offers comprehensive banking, investment, credit and insurance services, in addition to a virtual shopping center that brings together the best retailers in Brazil and United States. The company has a large loan portfolio of 16 billion reais, equity of 8.6 billion reais, and 33.7 billion reais in total assets.

Contacts:

Shadow
Lucie Domville / Katie Conroy
M +1 646. 824.2856 / +1 530.680.2772
[email protected] / [email protected]

SOURCE Inter


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