AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Market risk is represented by the possibility of financial losses due to the variation in prices and interest rates of our financial assets, since asset and liability portfolios may have mismatches of amounts, periods, currencies and indexes. We are exposed to market risk, both in our trading and banking portfolios. The main market risks of our portfolios are interest rate risk and foreign exchange risk. We use stress methodologies such as sensitivity analysis, Economic Value of Equity (EVE), Net Interest Income (NII) and Value at Risk (VaR), among others, for evaluating our market risk. Ø Interest rate risk Interest rate risk arises as a result of timing differences on the repricing of assets and liabilities, unexpected changes in the slope and shape of yield curves, base risk and changes in the correlation of interest rates between different financial instruments/indexes. We are exposed to the risk of interest rate movements when there is a mismatch between fixed rates and market interest rates. For a discussion of our management of interest rate sensitivity, see “Item 5.B. Liquidity and Capital Resource – 5.B.70 Interest rate sensitivity”. Ø Exchange risk Exchange risk arises as a result of our having assets, liabilities and off-balance sheet items that are denominated in, or indexed to, currencies other than reais, either as a result of trading or in the normal course of banking activities. We control exposure to exchange rate movements by ensuring that mismatches are managed and monitored, and our policy is to avoid material exchange rate mismatches. For a discussion of our management of exchange rate sensitivity, see “Item 5.B. Liquidity and Capital Resource – 5.B.80 Foreign exchange rate sensitivity”. Ø Market risk of trading activities We enter into derivatives transactions to manage our exposure to interest rate and exchange rate risk. As a result, our exposure to the potential losses described below is generally reduced by these transactions. Ø Sensitivity analysis Below, we present a sensitivity analysis for our financial exposure in trading and banking portfolios, based on three scenarios applied to market rates and prices. We considered 25.0% and 50.0% shocks in prices and rates that would adversely affect our positions, based on market information (B3, Anbima, etc.), where stresses were applied for 1 basis point on the interest rate, being 1.0% variation on prices. 193 – Form 20-F 2025 | Bradesco Table of Contents These figures represent the impact for each scenario in a static portfolio position. Due to the market and portfolio dynamism, these positions change continuously and do not necessarily reflect the position shown here. In addition, we have a process of ongoing management of the market risk, which seeks constantly, through the dynamism of the market, manners to mitigate the associated risks, according to the strategy defined by our Senior Management. Thus, in cases where there is evidence of deterioration of a certain position, proactive actions are taken to minimize the possible negative impacts, in order to maximize the risk/return ratio. Risk Factor Market as of December 31, 2025 Scenarios 1 base point shock for interest rate and 1% variation for prices 25% shock for prices and rates 50% shock for prices and rates Foreign exchange rate R$/USD 5.49 5.55 6.87 8.24 1-year fixed rate in reais 13.8% 13.8% 17.3% 20.7% Shocks were also applied to other risk factors and terms of the interest curves. During 2025, the largest depreciation of the real against the U.S. dollar was 9.28% (increased from R$/US$5.98, on April 12, 2025 to R$/US$5.43, on June 30, 2025), which is below the 25% and 50% shock scenarios. The impacts of these scenarios on our positions would be as follows: Trading and banking portfolios As of December 31, 2025 R$ in thousands Risk factors Definition Scenarios (1) 1 2 3 Interest rate in Reais(2) Exposure subject to the variation of fixed interest rates and interest rate coupon (10,533) (3,584,634) (7,069,069) Price indexes Exposure subject to variations in price index coupon rates (17,802) (2,747,631) (4,869,645) Exchange coupon Exposure subject to variations in foreign currency coupon rates (1,899) (231,410) (447,013) Foreign currency Exposure subject to exchange rate variations (4,244) (106,104) (212,207) Equities Exposure subject to variation in stock prices (35,194) (879,844) (1,759,689) Sovereign/Eurobonds and Treasuries Exposure subject to variations in the interest rate of securities traded on the international market 2,442 239,377 465,818 Other Exposure not classified in other definitions 935 23,368 46,735 Total excluding correlation of risk factor (66,296) (7,286,879) (13,845,070) (1) Amounts net of tax effects; and (2) As a reference for the shocks applied to the 1-year vertex, the values were approximately 335 bps and 653, bps (scenarios 2 and 3 respectively) on December 31, 2025 (on December 31, 2024 - the values were approximately 372 bps and 726 bps in scenarios 2 and 3 respectively). 194 – Form 20-F 2025 | Bradesco Table of Contents Trading Portfolio As of December 31, 2025 R$ in thousands Risk factors Definition Scenarios (1) 1 2 3 Interest rate in Reais(2) Exposure subject to the variation of fixed interest rates and interest rate coupon (318) (102,871) (195,792) Price indexes Exposure subject to variations in price index coupon rates (294) (54,032) (102,722) Exchange coupon Exposure subject to variations in foreign currency coupon rates (2) (347) (688) Foreign currency Exposure subject to exchange rate variations (2,184) (54,595) (109,190) Equities Exposure subject to variation in stock prices 476 11,888 23,776 Sovereign/Eurobonds and Treasuries Exposure subject to variations in the interest rate of securities traded on the international market 83 6,687 13,058 Other Exposure not classified in other definitions (13) (320) (640) Total excluding correlation of risk factor (2,252) (193,590) (372,198) (1) Amounts net of tax effects; and (2) As a reference for the shocks applied to the 1-year vertex, the values were approximately 335 bps and 651 bps (scenarios 2 and 3 respectively) on December 31, 2025 (on December 31, 2024 - the values were approximately 372 bps and 722 bps in scenarios 2 and 3 respectively). Ø Value at Risk (VaR) For the calculation of VaR, the Delta-Normal methodology is adopted, with a 99.0% confidence level, and the time horizon applied includes the number of days required to undo the existing exposures. Additionally, for the measurement of all risk factors of the options portfolio, the historic simulation models and Delta-Gamma-Vega are applied, whichever is the most conservative of the two, whereby this risk of options is added to the VaR of the portfolio. For the calculation of volatilities, correlations, and historic returns, a minimum window of 252 business days is adopted. The methodology applied and the existing statistical models are assessed on a permanent basis using backtesting techniques, which compare the VaR with holding periods of one day and hypothetical results, obtained with the same positions used in the VaR calculation, and effectively considering also the transactions of the day for which the VaR was estimated. The main purpose is to monitor, validate and evaluate the VaR model’s adherence and the number of breaks that occurred should be in line with the number of breaks accepted by the statistical tests carried out for the required level of confidence of 99.0%. Another purpose is to improve the models used by us, by way of analyses carried out for different VaR observation periods and confidence levels, both for Total VaR and by risk factors. In 2025, the daily results, both from hypothetical and effective perspectives, exceeded the respective VaR with a confidence level of 99.0%, never in the hypothetical view and in the effective view. In accordance with the paper published by the Basel Committee on Banking Supervision (Supervisory Framework for the use “Backtesting” in Conjunction with the Internal Models Approach to Market Risk Capital Requirements of January 1996), the deviations would be classified as “either bad luck or the markets moved in a fashion unanticipated by the model”, that is, the volatility was significantly higher than expected and/or the correlations differed from those presumed by the model. In 2025, VaR of the trading portfolio, at one-day horizon and net of tax effects, presented maximum and minimum values of R$61.7 million in the fourth quarter and R$9.8 million in the third quarter, respectively. The tables below show the value at risk, according to the methodology of the VaR. 2025 - R$ in thousands 1st Quarter On March 31 Average Minimum Maximum Risk Factors Reais (fixed and floating rate) 6,593 3,083 12,115 5,957 Exchange coupon 118 47 254 182 Foreign currency 4,920 3,133 6,469 4,085 Equities 5,044 2,538 9,892 2,538 Sovereign risk 3,354 2,278 5,226 2,758 Other 9,150 5,913 12,981 9,991 Total VaR 18,199 13,843 23,694 16,470 195 – Form 20-F 2025 | Bradesco Table of Contents 2025 - R$ in thousands 2nd Quarter On June 30 Average Minimum Maximum Risk Factors Reais (fixed and floating rate) 10,950 4,761 19,729 16,442 Exchange coupon 149 99 201 111 Foreign currency 4,297 2,041 7,905 3,978 Equities 2,550 876 6,563 1,156 Sovereign risk 2,621 1,686 3,446 3,049 Other 10,981 2,329 25,543 6,061 Total VaR 20,791 10,289 33,668 19,576 2025 - R$ in thousands 3rd Quarter On September 30 Average Minimum Maximum Risk Factors Reais (fixed and floating rate) 19,327 7,440 39,856 17,113 Exchange coupon 130 81 220 101 Foreign currency 5,436 3,273 11,056 5,199 Equities 2,379 995 4,294 2,915 Sovereign risk 3,106 2,447 3,975 2,761 Other 9,387 2,383 20,696 11,367 Total VaR 27,116 9,836 47,490 27,617 2025 - R$ in thousands 4th Quarter On December 31 Average Minimum Maximum Risk Factors Reais (fixed and floating rate) 16,457 8,613 25,219 15,299 Exchange coupon 68 42 119 67 Foreign currency 4,342 2,582 6,353 4,031 Equities 4,231 1,906 7,720 1,940 Sovereign risk 4,022 2,855 7,055 7,055 Other 23,031 101 47,326 1,246 Total VaR 38,088 13,399 61,733 14,814 The following table shows trading portfolio VaR concentration in frequency terms in the year ended December 31, 2025: Value at Risk (R$ in millions) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Annual Average Up to R$20 71.0% 42.0% 11.5% 2.3% 24.0% Over R$20 up to R$30 29.0% 42.6% 43.1% 20.5% 32.3% Over R$30 up to R$40 0.0% 15.4% 28.5% 21.0% 18.5% Over R$40 up to R$50 0.0% 0.0% 16.9% 24.2% 13.5% Over R$50 0.0% 0.0% 0.0% 32.0% 11.8% 196 – Form 20-F 2025 | Bradesco Table of Contents