INTERNAL USE www.spxcapital.com
LETTER TO THE TEAM October - 2026
10.26
LETTER TO THE TEAM
Sports Events in Brazil In September, we hosted our traditional Sports Events in Brazil. In Rio de Janeiro, we held the well-known SPX Circuit. The event took place at Vidah, located at Lagoa Rodrigo de Freitas, and featured running activities, stretching sessions, relaxing massages, breakfast, and a Kids' Area for families. In São Paulo, the team gathered at Villa Bowling for a lively Bowling Night, complete with exclusive lanes and food from Johnny Rockets. It was fantastic to see our employees strengthening team spirit and sharing great moments together!
1
10.26
LETTER TO THE TEAM
2
Student Visits: Rio and São Paulo We hosted student visits at our Rio de Janeiro and São Paulo offices. During the sessions, the students had the opportunity to speak with in-house professionals about the job market, career paths, and our business divisions. In Rio de Janeiro, members of the UFRJ Finance Club (Liga de Mercado Financeiro da UFRJ) spoke with Sávio Souza from Investor Relations and Murilo Oliveira from Equities. In São Paulo, we welcomed students from the "Elas no Mercado Financeiro" Women in Finance Club, who interacted with Beatriz Pina from Investor Relations and Pedro Daltro from Real Estate. On another occasion, we were also joined by students from the USP Real Estate Club, who spoke with Chiara Makul from Investor Relations and Pedro Daltro from Real Estate. In addition to the in-person visits, we hosted a virtual presentation where Vinicius Hessel from the Quant Desk spoke with students from FEA Dev—a student group from FEA-USP focused on quantitative investment strategies using AI.
10.26
LETTER TO THE TEAM
LATEST NEWS SPX CAPITAL
1.
3
4.
In September, we expanded our credit strategies
On September 25, our Credit team met with
credit fund tailored exclusively for qualified
breakfast. It was an insightful discussion on
with the launch of SPX Stonehawk, a private investors. The strategy aims to capture the top opportunities in the local market through a diversified portfolio comprising corporate bonds,
financial notes (letras financeiras), and up to 40% allocation in structured assets. SPX
Necton Investimentos for an exclusive business current
market
dynamics,
strategies
for
capturing strong opportunities, and how to precisely navigate changes in the economic landscape.
Stonehawk is available for investment directly through SPX.
2. SPX
Capital
participated
in
the
ABVCAP
Experience Congress 2026. Our partner Edson
Peli featured as a speaker on Panel 6: "Private Equity - Investment and Value Creation Success cases in emerging sectors." During the
panel, Edson shared his insights on value creation
in
the
Private
opportunities
in
new
highlighting
the
Equity
market,
economic
sectors
transformation
and
alongside leading industry figures such as Frances Fukuda, Mariana Moura Wyatt, Wilson Rosa, and Gustavo Camargo.
3.
In a new op-ed published in Valor Econômico,
our Chief Economist, Gabriel Hartung, analyzes the real impacts and implications of the IOF tax on VGBL pension plans. Read the full article.
5.
SPX Capital announces the upcoming business combination between Vision Cybersecurity and
Tempest Security Intelligence, creating a major
independent cybersecurity platform in Brazil with over R$ 700 million in annual revenue. As the
largest
shareholder
and
controlling
stakeholder of the combined entity, SPX
reinforces its investment thesis in technology and critical infrastructure. The transaction will unite Vision's proprietary preemptive AI engine with Tempest's established reputation in the cybersecurity
market,
safeguarding
top
companies across the large enterprise segment.
10.26
LETTER TO THE TEAM
You can join our newsletter too! If you would like to suggest topics or content, ask questions or share ideas, send an email to: newsletter@spxcapital.com
Follow SPX on social media and stay updated with exclusive content!
5