XP Inc. announces new share repurchase program for up to R$1.0B

XP Inc. (XP) announced that its board of directors has approved a new share repurchase program. Under the repurchase program, XP may repurchase up to the amount in dollars equivalent to R$1.0 billion of its outstanding Class A common shares in the open market, based on prevailing market prices, or in privately negotiated transactions, over a period beginning on November 20th, 2024 continuing until the earlier of the completion of the repurchase or November 20th 2025, depending upon market conditions. XP’s board of directors will review the repurchase program periodically and may authorize adjustments to its terms and size or suspend or discontinue the repurchase program. XP expects to utilize its existing cash to fund repurchases made under the repurchase program.