BB Seguridade (BBSE3.SA): 2Q26 First Take: In-line results; soft trends persist

Research evidence excerpt

BB Seguridade (BBSE3.SA): 2Q26 First Take: In-line results; soft trends persist

performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in

exchange rates could have adverse effects on the value or price of, or income derived from, certain investments.

Certain transactions, including those involving futures, options, and other derivatives, give rise to substantial risk and are not suitable for all investors.

Investors should review current options and futures disclosure documents which are available from Goldman Sachs sales representatives or at

https://www.theocc.com/about/publications/character-risks.jsp and https://www.goldmansachs.com/disclosures/cftc_fcm_disclosures. Transaction

costs may be significant in option strategies calling for multiple purchase and sales of options such as spreads. Supporting documentation will be

supplied upon request.

Differing Levels of Service provided by Global Investment Research: The level and types of services provided to you by Goldman Sachs Global

Investment Research may vary as compared to that provided to internal and other external clients of GS, depending on various factors including your

individual preferences as to the frequency and manner of receiving communication, your risk profile and investment focus and perspective (e.g.,

marketwide, sector specific, long term, short term), the size and scope of your overall client relationship with GS, and legal and regulatory constraints.

As an example, certain clients may request to receive notifications when research on specific securities is published, and certain clients may request

that specific data underlying analysts’ fundamental analysis available on our internal client websites be delivered to them electronically through data