PICS SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Reminds PicS N.V. (PICS) Investors of Securities Class Action Lawsuit Deadline on August 4, 2026

Faruqi & Faruqi, LLP is investigating potential claims against PicS N.V. (NASDAQ: PICS) and reminds investors of the August 4, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

The complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) PicS N.V. had conducted an evaluation of its credit evaluation procedures in December 2025 and determined that such procedures were deficient and in need of enhancement; (2) as a result of the new procedures PicS N.V. had implemented in December 2025, PicS N.V. had reclassified approximately R$590 million of exposures previously classified as Stage 2 to Stage 3, leading to an incremental ECL charge of R$88 million in the three months ended December 31, 2025; (3) PicS N.V. had experienced a heightened, but unreported, Stage 3 formation rate of more than 7% in the fourth quarter of 2025 that deviated substantially from the historical results and trends provided in the offering documents; (4) the IPO's offering documents had materially overstated the quality and ability of PicS N.V.'s credit models and user data to inform PicS N.V.'s underwriting practices and to allow PicS N.V. to timely and effectively monitor, assess, and identify adverse credit events, credit risks, and credit deterioration across its portfolio; and (5) PicS N.V. suffered from degradations in customer credit quality and heightened risks of default and loan impairment as a result of its entrance into materially riskier business lines leading up to the IPO, resulting in undisclosed adverse financial and operational trends such as heightened incidents of default, which predated the IPO and were internally projected by PicS N.V. to continue to worsen following the IPO, materially impairing PicS N.V.'s business, operations, and financial results.

On or around January 29, 2026, PicPay conducted its initial public offering ("IPO"), selling 22.86 million Class A common shares priced at $19.00 per share. Then, on March 18, 2026, PicPay released its fourth quarter 2025 financial results and revealed that, as part of the Company's "annual review of expected credit loss parameters," it had made several "enhancements" to its Expected Credit Loss ("ECL") calculations, and "implemented a stricter policy to accelerate the classification of renegotiated non-performing exposures from Stage 2 to Stage 3." Consequently, "R$590 million of Stage 2 portfolio balances were reclassified to Stage 3, resulting in an ECL increase of R$88 [$17.56 million USD]." Stage 3 is the Company's highest risk category for its credit portfolio.

On this news, PicPay's stock price fell $3.56 per share, or 22.5%, to close at $12.27 per share on March 19, 2026.