Vinci Compass Investments Ltd. · NASDAQ:VINP
Vinci Compass Investments — Q3 2026 Earnings Presentation
41 slides from Vinci Compass Investments's earnings presentation, Nov 13, 2026
Slide 1: Third Quarter 2026 Earnings Presentation
1 November 12, 2026 Third Quarter 2026 Earnings Presentation
Slide 2: Disclaimer
2 Disclaimer This presentation contains forward - looking statements that can be identified by the use of words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others . By their nature, forward - looking statements are necessarily sub
Slide 3: Third Quarter 2026 Highlights
3 0.17 Quarterly Dividend US$ 363 bn AuM 3Q’26 R$ Third Quarter 2026 Highlights Record quarterly Management Fees, Fee Related Earnings and Net Income , driven by inorganic and organic growth, as well as the Galeão indemnification unrealized gain in Net Income 280 mm Management Fees 3Q’26 + 39 % YoY
Slide 4: Launch of Vinci Permanent Capital Solutions with Acquisition of AustralRe
4 See notes and definitions at end of document Vinci Compass Announced the Launch of Vinci Permanent Capital Solutions with the Acquisition of AustralRe Establishing a self - funding balance sheet to support Vinci Compass’ growth across Latin America Established track record of consistent growth, su
Slide 5: Financial Highlights
5 Financial Highlights
Slide 6: Fee Related Earnings Statement
6 ∆ YoY(%) 3Q'26 YTD 3Q'25 YTD ∆ YoY(%) 3Q'26 2Q'26 3Q'25 (R$ thousands, unless mentioned) 31% 777,005 592,637 39% 279,956 252,191 201,539 Net revenue from management fees (42)% 44,486 76,457 (24)% 19,372 9,047 25,384 Net revenue from advisory fees 1% 34,103 33,610 4% 11,873 11,190 11,404 Other reve
Slide 7: Total Assets Under Management and Advisory
7 67% 21% 12% 3% (4)% Capital Formation & Appreciation 3Q’26 LTM Global IP&S Credit Real Assets Equities Private Equity 241 274 273 33 43 43 15 15 16 12 15 16 16 14 14 316 361 363 3Q'25 2Q'26 3Q'26 Global IP&S Credit Equities Real Assets Private Equity Total Assets Under Management and Advisory AuM
Slide 8: Additional Capital Detail and Performance Fees
8 Vinci Compass recognizes the performance revenue according to IFRS 15. Unrealized performance fees are recognized only when i s h ighly probable that the revenue will not be reversed in the Income Statement. The fund FIP Infra Transmissão in Infrastructure had R$1.7 million as of the end of the th
Slide 9: Fee Related Revenues
9 Fee Related Revenues Management fees were R$280.0 million in the 3Q'26, up 39% year - over - year. The increase was driven by inorganic growth from the Verde and BACS transactions and organic growth across Credit, Global IP&S and Real Assets Fee Related Revenues 3Q’26 vs. 3Q’25 ( R$mm ) Fee Relate
Slide 10: Financial Metrics 3Q'26 Overview
10 4 6 1 8 5 14 3Q'25 3Q'26 77 107 3Q'25 3Q'26 2 1 3Q'25 3Q'26 Financial Metrics 3Q’26 overview Fee Related Earnings (FRE) of R$106.8 million and R$1.61/share • FRE growth reflects inorganic growth and strong fundraising over the last twelve months with operating leverage. The FRE margin reached 34.
Slide 11: Financial Metrics 3Q'26 YTD Overview
11 22 20 20 18 3Q'25 YTD 3Q'26 YTD 8 7 3Q'25 YTD 3Q'26 YTD 208 292 3Q'25 YTD 3Q'26 YTD Financial Metrics 3Q’26 YTD overview Fee Related Earnings (FRE) of R$291.8 million and R$4.43/ share • Stronger management fees in the 3Q’26 YTD, supported by a combination of inorganic and organic growth, combine
Slide 12: Adjusted Distributable Earnings
12 211 197 3Q'25 YTD 3Q'26 YTD 73 71 3Q'25 3Q'26 Adjusted Distributable Earnings (Adj. DE) See notes and definitions at end of document Adj. DE 3Q’26 vs. 3Q’25 ( R$mm ) 22% 28% 1 .16 1.07 Adj. DE 3Q’26 YTD vs. 3Q’25 YTD ( R$mm ) 21% 26% 3.34 2.99 Adj. DE per share % Adj. DE margin Adj. DE per share
Slide 13: Balance Sheet Highlights & IRE Commitments
13 22% 18% 16% 22% 15% 5% 3% Fair Value of Investments - IRE Commitment Balance Sheet Highlights & IRE Commitments 3Q'26 2Q'26 (IN R$ MILLIONS, UNLESS MENTIONED) 245.1 225.0 Cash and cash equivalents¹ 1,194.9 1,061.8 Net Investments 284.5 171.4 Liquid funds² 910.5 890.4 IRE Commitments³ (563.6) (561
Slide 14: IRE Commitments Overview
14 890.4 20.8 (10.3) (5.9) 15.4 910.5 2Q'26 Capital Called Principal Returned Gross Capital Gain Returned Appreciation 3Q'26 See notes and definitions at end of document IRE Proprietary Fund Commitments Fair Value of Investments (R$ mm) IRE Commitments Overview Per share R$13.74 R$13.56 Total Capita
Slide 15: Segment Highlights
Segment Highlights VINCI COMPASS
Slide 16: Financials by Segment
16 41% 24% 16% 16% 4% (1)% 39% 24% 19% 15% 5% (1)% Global IP&S Credit Real Assets Private Equity Equities Corporate Advisory Financials by Segment Fee Related Earnings (FRE) 3Q’26 YTD by Segment Segment Distributable Earnings (DE) 3Q’26 YTD by Segment Fee Related Earnings (FRE) were R$291.8 million
Slide 17: Global Investment Products & Solutions
17 TPD Liquid 49% TPD Alternative 27% Global Solutions 7% Separate Mandates 7% Multi - strategy 5% Advisory & Execution 3% Other 2% Global IP&S AUM Breakdown by Strategy See notes and definitions at end of document Global Investment Products & Solutions (Global IP&S) R$273 bn AuM Management fees of
Slide 18: Credit
18 Local Currency High Grade & High Yield 45% Hard Currency High Grade & High Yield 21% Real Estate & Infrastructure Credit 10% Opportunistic Capital Solutions 9% Structured Credit & Confirming 8% Diversified Private Credit 4% Agribusiness 3% Credit AuM Breakdown by Strategy Credit R$43 bn AuM Fee R
Slide 19: Private Equity
19 Unrealized GP investment income of R$9.9 million from the IRE commitment in VCP IV, reflecting the fund’s strong early performance. Despite still in its deployment phase, VCP IV has already signed its first divestment, contributing to the unrealized gain and marking an important milestone in its
Slide 20: Equities
20 Total AuM of R$16.3 billion, up 12% year - over - year Brazil 73% Chile 18% Mexico 3% Argentina 2% LatAm 2% Global 2% Equities AuM Breakdown by Strategy Equities R$16 bn AuM Fee Related Revenues of R$21.6 million in the 3Q'26, up 26% YoY. The growth was driven by inorganic growth and portfolio ap
Slide 21: Real Assets
21 Infrastructure 43% Real Estate 43% Forestry 14% Real Assets AuM Breakdown by Strategy Real Assets Total AuM of R$16.1 billion, up 34% year - over - year R$16 bn AuM Management fees in the 3Q’26 increased 13% year - over - year, supported by fundraising in Forestry, including new commitments in La
Slide 22: Corporate Advisory
22 Corporate Advisory Fee Related Earnings (FRE) and Segment Distributable Earnings totaled negative R$2.2 million in the 3Q'26 ∆ YoY (%) 3Q'26 YTD 3Q'25 YTD ∆ YoY (%) 3Q'26 2Q'26 3Q'25 (R$ THOUSANDS, UNLESS MENTIONED) N/A – – N/A – – – Net revenue from management fees (78)% 3,082 14,009 (100)% – 1,
Slide 23: Supplement Details
23 Supplement Details
Slide 24: AuM Rollforward
24 See notes and definitions at end of document AuM¹ Rollforward Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 361,195 15,066 15,490 14,170 42,503 273,965 Beginning balance (93) 129 – (2) (204) (17) (+/ - ) Capital Subscription / (Capital Return) 487 267 – – 220 – (+) C
Slide 25: Fee-Earning AuM Rollforward
25 See notes and definitions at end of document Fee - Earning AuM¹ Rollforward Total Real Assets Equities Private Equity Credit Global IP&S In R$ millions 354,036 12,473 15,444 11,524 42,051 272,544 Beginning balance (121) 118 – (2) (220) (17) (+/ - ) Capital Subscription / (Capital Return) 459 255
Slide 26: Investment Records – Credit and Equities Funds
26 Investment records – Credit and Equities Funds Hurdle Rate Market Comparison 24 M 12 M YTD 3Q’26 NAV¹ (R$ millions) Segment Fund or Strategy IPCA + Yield IMA - B IPCA + Yield IMA - B 28.7% 10.1% 5.2% 4.0% 215.8 Equities Vinci Total Return² IBOV IBOV 33.5% 19.4% 13.6% 5.9% 914.1 Equities Mosaico S
Slide 27: Investment Records – Global IP&S and Real Assets Funds
27 Investment records – Global IP&S and Real Assets Funds See notes and definitions at end of document 24 M 12 M YTD 3Q’26 Benchmark 29.7% 14.5% 10.5% 3.4% CDI 2 25.4% 14.8% 11.4% 4.6% IMA - B 5 3 10.0% 4.6% 4.0% 0.6% IPCA 4 13.6% 4.6% (0.5)% (2.0)% IFIX 5 Hurdle Rate Market Comparison 24 M 12 M YTD
Slide 28: Investment Records – Closed End Funds
28 See notes and definitions at end of document Investment records – Closed End funds Pro Forma Historical Portfolio Performance¹ Gross IRR Gross IRR Gross MOIC Gross MOIC Total Value Unrealized Realized or Partially Realized Invested Capital Committed Capital Vintage year Segment Fund (USD) (BRL) (
Slide 29: Shareholder Dividends & Share Summary
29 See notes and definitions at end of document Shareholder Dividends & Share Summary 3Q’26 2Q’26 1Q’26 4Q'25 3Q'25 2Q'25 1Q'25 4Q'24 ($ in thousands) 70,993 63,317 62,237 81,288 73,092 75,759 62,306 73,946 Adjusted Distributable Earnings (R$) 12,767 12,424 12,702 15,605 13,645 13,964 11,027 12,804
Slide 30: Reconciliations and Disclosures
30 Reconciliations and Disclosures
Slide 31: Financials - Income Statement
31 Financials - Income Statement ∆ YoY (%) 3Q'26 YTD 3Q'25 YTD ∆ YoY (%) 3Q'26 2Q'26 3Q'25 (R$ thousands, unless mentioned) REVENUES 31% 777,005 592,637 39% 279,956 252,191 201,539 Net revenue from management fees (12)% 12,675 14,405 (18)% 2,440 7,345 2,986 Net revenue from performance fees (45)% 12
Slide 32: Financials - Non-GAAP Reconciliation
32 Financials - Non - GAAP Reconciliation 3Q'26 YTD 3Q'25 YTD 3Q'26 2Q'26 3Q'25 (R$ thousands, unless mentioned) 298,899 216,048 108,178 92,794 78,760 OPERATING PROFIT (12,675) (23,117) (2,440) (7,345) (2,986) ( - ) Net revenue from realized performance fees – 8,711 – – – ( - ) Net revenue from unre
Slide 33: Balance Sheet
33 Balance Sheet 09/30/2026 06/30/2026 Assets Current assets 245,138 224,968 Cash and cash equivalents 103,859 92,426 Cash and bank deposits 115,881 110,309 Financial instruments at fair value through profit or loss 25,398 22,233 Financial instruments at amortized cost 862,192 852,972 Financial inst
Slide 34: Notes to page
34 Notes to page 4 1) As of June 30 , 2026 Notes to page 6 1) FRE per share is calculated considering the number of outstanding shares at the end of the current quarter . Year - to - date values are calculated as the sum of the last three quarters . 2) Other items comprise the income/(loss) generate
Slide 35: Notes to page (cont'd)
35 Notes to page 13 (cont’d) 2) Liquid funds’ value are calculated as investment at fair value as of September 30 , 2026 , in liquid funds from Vinci Compass’ Equities, Global IP&S, Credit and Real Estate . It also comprises the cash and certificate of deposits and federal bonds . For 1 Q’ 24 onward
Slide 36: Notes to page (cont'd)
36 Notes to page 26 (cont’d) 6) Brazil stock market most relevant index . 7) S&P/BMV IPC seeks to measure the performance of the largest and most liquid stocks listed on the Mexican Stock Market . 8) S&P MERVAL Index, Argentina’s flagship index, seeks to measure the performance of the largest, most
Slide 37: Notes to page
37 Notes to page 29 1) US $ Distributable Earnings was calculated considering the exchange rate from USD to BRL of 5 . 5606 , as of November 11 , 2026 , when dividends were approved by our Board of Directors . 2) Per Share calculations are based on end of period Participating Common Shares . 3) Actu
Slide 38: Notes and Definitions
38 • “Fee related earnings”, or “FRE”, is a metric to monitor the baseline performance of, and trends in, our business, in a manner that does not include performance fees, investment income and expenses that do not arise from our normal course of operations . FRE is calculated as operating profit, l
Slide 39: Notes and Definitions
39 • “ AuM ” refers to assets under management and advisory . Our AuM equals the sum of : ( 1 ) the fair market value of all funds and accounts under management and advisory by Vinci Compass, across Global IP&S, Credit, Private Equity, Equities, and Real Assets ; ( 2 ) the capital that we are entitl
Slide 40: Notes and Definitions
40 • “Capital Subscription / (capital return)” represents the net capital commitments and capital returns from our closed end and listed funds . • “Net Inflows / (outflows)” represent the net inflows and outflows from our liquid funds from our Equities, Global IP&S and Credit segments . • “Appreciat
Slide 41: Office Locations
41 Bogota 601 748 6090 Carrera 11 # 79 – 52 Of 801, Edificio 80 - ONCE Barrio El Nogal COLOMBIA Mexico City 52 55 5010 2150 Paseo de los Tamarindos N Σ 90, Torre 1, Piso 21, 05120 MEXICO Lima 51 1 611 5350 Av. Jorge Basadre Nro. 347 Piso 09, Of 902 San Isidro PERU Miami 786 755 4860 1441 Brickell Av
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