Ownership Composition and Control Structure
Inter&Co, Inc (“Inter&Co”) parent company of Banco Inter S.A. (“Inter”), is a holding company incorporated under the laws of the Cayman Islands, registered as a foreign issuer with the Securities and Exchange Commission (SEC) of the United States of America and the Brazilian Securities Commission (CVM) (registration in the category A).
Inter&Co private common stock, is divided into Class A and Class B common stock. Class A common stock is entitled to 1 vote per share, while Class B common stock is entitled to 10 votes per share. This structure allows Banco Inter to have a defined control structure, complying with the provisions of the rules that comply with Brazilian financial institutions.
This is because the Brazilian Central Bank (“Bacen”) is responsible for assessing and approving the control structure of Brazilian financial institutions, including certain requirements to be met by their controllers (Law 4,595 of December 31, 1964 and CMN Resolution 4,970 of 25 November 2021). In this sense, any change in Inter’s corporate control must be previously approved by Bacen (Article 10, item X, letter g) of Law 4,595 of December 31, 1964).