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    PagSeguro Digital (PAGS)

    PagSeguro Digital Ltd. (PAGS) is a financial technology company based in Brazil, focused on providing innovative and affordable financial solutions to consumers, individual entrepreneurs, micro-merchants, and small and medium-sized enterprises (SMEs). The company offers a comprehensive digital ecosystem that combines payments and financial services, empowering underserved segments with mobile-first solutions. PAGS sells digital banking services, payment solutions, and card issuance products.

    1. Payments - Operates as a full acquirer and cross-border payment service provider, offering point-of-sale (POS) devices and supporting multiple payment methods and cash-out options.
      • POS Devices - Provides entry-level devices like the Minizinha, enabling merchants to accept card payments.
    2. Banking - Offers free digital accounts under the PagBank brand, providing functionalities such as bill payments, mobile phone top-ups, wire transfers, and more.
      • Digital Accounts - Includes features like peer-to-peer cash transfers, prepaid, debit, and credit cards, loans, and investments.
    3. Card Issuance - Issues prepaid, cash, debit, and credit cards to enhance its financial ecosystem.
    4. Early Payment of Receivables - Provides merchants with the option of early payment of receivables to meet working capital needs.

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    NamePositionExternal RolesShort Bio

    Luis Frias

    ExecutiveBoard

    Chairman of the Board, Principal Executive Officer

    Publisher of Grupo Folha; Founder of UOL

    Founder of UOL and PAGS; expanded UOL into fintech; continues to lead Grupo Folha and UOL.

    Alexandre Magnani

    Executive

    Chief Executive Officer

    None

    Joined PAGS in 2015; led sales and financial services; oversaw record growth in TPV and PagBank deposits.

    View Report →

    Artur Schunck

    Executive

    Chief Financial Officer, Chief Accounting Officer, Investor Relations Officer

    None

    Joined PAGS in 2015; managed finance, treasury, and credit products; became CFO in 2020.

    Ricardo Dutra da Silva

    Executive

    Principal Executive Officer

    None

    Joined PAGS in 2017; led the convergence of PagBank and PagSeguro brands; oversaw the granting of a brokerage license and initiatives to improve profitability.

    Cleveland Prates Teixeira

    Board

    Board Member

    Managing Partner of Microanalysis Consultoria Econ\u00f4mica; Coordinator at FIPE

    Joined PAGS in 2019; expert in economics, regulation, and competition; teaches at FGV-SP and coordinates courses at FIPE.

    Eduardo Alcaro

    Board

    Vice Chairman of the Board

    CFO of UOL EdTech

    Joined PAGS in 2017; previously held executive roles including CFO and Chief Business Development Officer; now Vice Chairman of the Board.

    Marcia Nogueira de Mello

    Board

    Board Member, Audit Committee Member

    President of the Board of Smartbank; Consulting Board Member at DMCard; Mentor at Quintessa

    Joined PAGS in 2020; recognized for promoting gender diversity; serves on audit committee and holds leadership roles in financial and social impact organizations.

    Maria Carolina Ferreira Lacerda

    Board

    Board Member, Chairwoman of the Audit Committee

    Board Member at China Three Gorges Brasil, IHS Towers, Rumo S.A., Hypera Pharma

    Joined PAGS in 2023; experienced in investment banking and corporate governance; serves on multiple boards and audit committees.

    Maria Judith de Brito

    Board

    Board Member

    Principal Executive Officer of Grupo Folha; Vice Chairman of UOL's Board

    Joined PAGS in 2017; recognized for promoting gender diversity on the board; has held leadership roles at Grupo Folha and UOL since the 1990s.

    1. Despite reporting strong net income growth, your Return on Average Equity remains below 15% with a conservative capital structure; what factors are constraining further ROAE expansion, and how do you plan to enhance shareholder returns, possibly through changes in your capital allocation strategy?

    2. Given recent regulatory scrutiny in Brazil's gambling industry, can you provide more details on your exposure to gaming clients and explain the potential risks to your TPV and bottom line if there are adverse changes in this sector?

    3. With the SELIC rate increasing faster than expected and each 100 basis points potentially adding BRL 300 million to your financial expenses over 12 months, how confident are you in your ability to pass these costs onto clients without impacting TPV growth or causing higher customer churn, especially among MSMBs?

    4. Your prepayment portfolio is growing at a faster rate than your TPV, indicating increased reliance on prepayment income; how sustainable is this growth considering potential interest rate fluctuations and credit risks, and could this heightened reliance pose a risk if market dynamics change?

    5. In your strategy to expand within the LMEC segment without buying market share, how are you balancing the need for growth in the competitive online space with maintaining profit margins, and what measures are in place to ensure that new large merchants contribute positively to your bottom line?

    Research analysts who have asked questions during PagSeguro Digital earnings calls.

    Renato Meloni

    Autonomous Research

    7 questions for PAGS

    Also covers: BAP, BBD, BDORY +3 more

    Eric Ito

    Bradesco BBI

    3 questions for PAGS

    Also covers: BSAC, INTR

    James Friedman

    Susquehanna Financial Group, LLLP

    3 questions for PAGS

    Also covers: AFRM, AVDX, BETR +18 more

    Maria Guedes

    Banco Safra

    3 questions for PAGS

    Antonio Buichi

    Bank of America

    2 questions for PAGS

    Antonio Gregorin Ruette

    Bank of America

    2 questions for PAGS

    Also covers: XP

    Antonio Ruette

    Bank of America

    2 questions for PAGS

    Also covers: INTR

    Arnon Shirazi

    BTG Pactual

    2 questions for PAGS

    Also covers: BDORY, ITUB, XP

    Beatriz Bomfim de Abreu

    Goldman Sachs Group, Inc.

    2 questions for PAGS

    Also covers: BCH, BSAC, DLO +2 more

    Carlos Gomez-Lopez

    HSBC

    2 questions for PAGS

    Also covers: BAP, BBD, BDORY +6 more

    Christopher Svensson

    Deutsche Bank AG

    2 questions for PAGS

    Also covers: EVTC, FLYW, PAYO +2 more

    Ernan Churezzi

    Citigroup Inc.

    2 questions for PAGS

    Kaio Penso Da Prato

    UBS

    2 questions for PAGS

    Also covers: MELI, STNE

    William Buonsanti Barranjard

    Itaú Corretora de Valores S.A.

    2 questions for PAGS

    Also covers: PAX, STNE, VINP

    Beatriz Abreu

    Goldman Sachs Group, Inc.

    1 question for PAGS

    Also covers: BSAC

    Bryan Keane

    Deutsche Bank

    1 question for PAGS

    Also covers: ACN, ADP, AVDX +14 more

    Daniel Vaz

    Banco Safra

    1 question for PAGS

    Also covers: BBD, BSBR, INTR +3 more

    Gabriel Gusan

    Citi

    1 question for PAGS

    Gustavo Schroden

    Citigroup

    1 question for PAGS

    Also covers: BBD, BDORY, BSBR +5 more

    Hernan

    Citibank

    1 question for PAGS

    Also covers: AFYA

    John Coffey

    Barclays PLC

    1 question for PAGS

    Also covers: DLO, NU, RPAY +2 more

    Jorge Kuri

    Morgan Stanley

    1 question for PAGS

    Also covers: BBD, BDORY, BSBR +3 more

    Kamila

    UBS Group AG

    1 question for PAGS

    Mario Pierry

    Bank of America

    1 question for PAGS

    Also covers: BBD, BDORY, BSBR +5 more

    Neha Agarwala

    HSBC

    1 question for PAGS

    Also covers: BCH, BSAC, DLO +5 more

    Pedro Leduc

    Itau BBA

    1 question for PAGS

    Also covers: BBAR, BBD, BDORY +6 more

    Ricardo Buchpiguel

    BTG Pactual

    1 question for PAGS

    Also covers: BDORY, BLX, INTR +2 more

    Tito Labarta

    Goldman Sachs

    1 question for PAGS

    Also covers: BAP, BBD, BDORY +10 more

    William Barranjard

    Itaú BBA

    1 question for PAGS

    Also covers: PAX

    Yuri Fernandes

    JPMorgan Chase & Co.

    1 question for PAGS

    Also covers: AVAL, BAP, BBD +13 more

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Netpos Serviços de Informática S.A.

    2023

    In a completed acquisition on July 18, 2023, PagSeguro Digital Ltd. acquired the remaining 90% of Netpos shares for a total cash consideration of R$32 million, achieving 100% ownership; the deal included detailed purchase price allocation for key assets such as customer portfolio, software, non-compete agreement, and goodwill, aligning with PagSeguro’s strategy to expand its digital ecosystem.

    Recent press releases and 8-K filings for PAGS.

    PagSeguro Digital Ltd. Announces Cash Dividend
    ·$PAGS
    Dividends
    • PagSeguro Digital Ltd. announced that its Board of Directors has approved the payment of a special cash dividend of US$0.12 per common share.
    • The dividend is scheduled to be paid on November 3, 2025, to shareholders of record as of October 6, 2025.
    • The company anticipates making one more special distribution of cash dividends in the same amount of US$0.12 per common share within the next two quarters, contingent on market and company financial conditions.
    3 days ago
    PagBank Reports Q2 2025 Financial Results
    ·$PAGS
    Earnings
    Dividends
    Share Buyback
    • PagBank reported net revenue of R$5.1 billion in Q2 2025, representing an 18% growth year-over-year when excluding the foreign exchange effect.
    • Recurring net income reached R$565 million (+4% y/y) and reported net income was R$537 million (+7% y/y), with a return on equity (ROE) of 14.5%.
    • The company's banking revenue increased 61% year-over-year and now accounts for 26% of gross profit, which totaled R$1.9 billion (+7% y/y).
    • PagBank allocated R$1.9 billion to dividends and share repurchases over the past 12 months, demonstrating a focus on shareholder value.
    Aug 14, 2025, 11:30 AM
    PagSeguro Digital declares special cash dividend
    ·$PAGS
    Dividends
    • On June 16, 2025, PagSeguro’s board approved a special cash dividend of US$0.12 per common share, payable on August 15, 2025 to shareholders of record as of July 16, 2025.
    • The company expects two additional special cash dividends of US$0.12 per share within the next three quarters, subject to market and company financial conditions and at the board’s discretion.
    Jun 16, 2025, 12:00 AM
    PagSeguro Digital Launches Third Share Repurchase Program
    ·$PAGS
    Share Buyback
    • PagSeguro Digital Ltd. announced its third share repurchase program with an authorization to buy back up to US$200 million in outstanding Class A common shares, effective immediately and without a fixed expiration date.
    • The announcement noted that the previous program, initiated in August 2024, successfully repurchased US$200 million in Class A common shares, and stated that the repurchases would comply with Rule 10b-18 under the Securities Exchange Act.
    May 29, 2025, 12:00 AM
    PagBank Reports Q1 2025 Results
    ·$PAGS
    Earnings
    Revenue Acceleration/Inflection
    • PagBank recorded a net revenue of R$4.9 billion in Q1 2025, marking a 13% YoY increase.
    • The company achieved a recurring net income of R$554 million, representing a 6% YoY growth.
    • The strong performance was announced by PagSeguro Digital Ltd amidst challenging macroeconomic conditions.
    May 14, 2025, 1:00 PM