Itau Unibanco Holding S.a. · BMFBOVESPA:ITUB3

Itau Unibanco — Q4 2025 Earnings Presentation

23 slides from Itau Unibanco's earnings presentation, Feb 5, 2026

  1. Slide 1: São Paulo, February 5th, 2026

    São Paulo, February 5th, 2026

  2. Slide 2: Structural evolution 2021-2025

    Structural evolution 40% credit portfolio growth | 2021→ 2025 23.4% 22.2% 21.0% 20.3% Customer centricity ROE 19.3% Cultural and digital transformation Efficiency 44.0% 2x 41.2% Risk management culture 39.9% 39.5% 38.8% +Value Capital allocation discipline and Creation focus on value creation 46.8 2

  3. Slide 3: Itaú in 2025

    Itaú in 2025 Satisfaction Technology EMPLOYEES CLIENTS INVESTORS QUALITY SPEED SCALABILITY eNPS in Consolidated NPS at all- Extel: 1st place in all 99% reduction on 2,606% increase in tech 45% reduction in excellence zone time high categories of the high-impact incidents deployments transactional un

  4. Slide 4: Highlights

    Highlights 4Q25 4Q25 Recurring R$12.3 Recurring Consolidated 24.4% Managerial billion Managerial 1.1 p.p. vs 3Q25 2.3 p.p. vs 4Q24 Result 3.7% vs. 3Q25 13.2% vs. 4Q24 ROE¹ Brazil 26.0% 1.8 p.p. vs 3Q25 2.6 p.p. vs 4Q24 Dec-25 4Q25 Credit Consolidated R$1,490.8 billion Financial R$30.9 Portfolio Marg

  5. Slide 5: Credit portfolio

    Credit portfolio in R$ billion Dec-25 Sep-25 D Dec-24 D Credit cards Dec-25 x Dec-25 x Individuals 474.3 456.4 3.9% 444.8 6.6% Average balance Sep-25 Dec-24 Credit card loans 153.5 142.2 8.0% 142.2 8.0% Transactor 4.3% 7.7% Financed 1.6% 9.7% Personal loans 67.4 68.4 -1.4% 65.9 2.2% Payroll loans 75

  6. Slide 6: Financial margin with clients

    Financial margin with clients in R$ billion R$13.1 bn (+12.1%) 2025 x 2024 R$0.5 bn (+1.5%) 30.5 26.6 0.5 0.3 4.0 30.9 27.0 ​ -3.9 -0.3 -0.1 -0.04 ​ 3Q25 Working capital ¹ Spread-sensitive Average Volume Product Mix 2 Spreads and Calendar and Latin America and Spread-sensitive Working capital¹ 4Q25

  7. Slide 7: Financial margin with the market

    Financial margin with the market in R$ billion Brazil Latin America Capital index hedge 4.4 3.3 0.9 0.9 0.9 0.9 0.6 5.4 4.8 1.3 1.3 1.3 1.2 1.1 0.1 0.2 0.2 0.3 0.2 0.5 1.0 -0.5 -0.5 -0.6 -0.7 -0.7 -1.4 -2.5 4Q24 ‘ 1Q25 ‘ 2Q25 3Q25 4Q25 2024 2025 7

  8. Slide 8: Commissions, fees and result from insurance

    Commissions, fees and result from insurance Acquiring – 4Q25 x 4Q25 x 3Q25 4Q24 in R$ billion Transaction 4Q25 3Q25 D 4Q24 D 2025 2024 D volume Card issuance 3.5 3.3 4.7% 3.3 5.1% 13.4 12.7 5.1% R$301 billion 16.8% 22.8% Current account for individuals 0.7 0.7 -2.9% 0.9 -19.7% 3.0 3.6 -16.8% Assets

  9. Slide 9: Credit quality

    Credit quality 15 - 90 days NPL - % 90 days NPL- % Consolidated Consolidated 2.3% 2.2% 2.1% 2.0% +0.3 p.p. 2.3% 2.0% 2.0% 2.0% 2.2% 2.0% 2.1% Brazil 1.9% 2.0% 1.9% 1.9% 1.8% 1.7% 1.9% 1.9% +0.2 p.p. Total 1.6% 1.7% 1.6% Latin America 1.7% 1.6% 1.4% 1.4% Impact of 1.5% 1.6% 1.5% 1.3% 1.3% sale of 1.2

  10. Slide 10: Credit quality – Resolution 4,966 ratios

    Credit quality – Resolution 4,966 ratios Stage 2 portfolio Stage 3 portfolio 6.0% 5.8% 5.9% 5.8% 5.8% 7.7% 8.0% 7.8% 7.6% 7.4% 4.6% 4.6% 4.6% 4.4% 4.4% 4.4% 4.3% 4.2% 4.1% 3.9% 4.3% 4.2% 4.2% 4.3% 4.2% 4.1% 4.1% 4.0% 4.0% 3.8% 1.7% 1.8% 1.8% 1.9% 1.9% 3.5% 3.5% 3.3% 3.3% 2.7% Dec-24 Mar-25 Jun-25 Se

  11. Slide 11: Quality and cost of credit

    Quality and cost of credit 2.7% 2.6% 2.5% 2.6% 2.6% 2.6% 2.6% 34.5 36.6 Cost of credit¹ (in R$ billion) 9.4 Annualized cost of credit / Loan 8.6 9.0 9.1 9.1 portfolio² - (%) 4Q24 1Q25 2Q25 3Q25 4Q25 2024 2025 3.2% 3.1% 3.0% 2.6% Renegotiated portfolio (Credit and securities) 40.1 38.8 38.4 35.1 (in

  12. Slide 12: Non-interest expenses

    Non-interest expenses In R$ billion 4Q25 3Q25 D 4Q24 D 2025 2024 D Commercial and administrative (6.4) (6.3) 1.5% (6.2) 3.6% (24.7) (23.6) 4.6% (personnel) Transactional (4.5) (4.5) 1.4% (4.2) 7.6% (17.4) (16.2) 7.5% (personnel, operations and services) Technology (3.0) (3.1) -2.9% (2.7) 12.5% (11.7

  13. Slide 13: Capital Payout

    Capital + 3.3% 13.6% + 0.2% 13.8% 1.3% - 0.8% - 2.5% 1.5% 12.3% 12.3% Dec-24 Net income Risk weighted Dividends and AT1 Dec-25 Tier I capital assets1 interest on own Tier I capital proforma capital Common Equity Tier I (CET I) Additional Tier I (AT1) . Interest on own capital and dividends distribut

  14. Slide 14: 2025 Guidance

    2025 Guidance Actual Guidance 4.5% 8.5% Total credit portfolio¹ 6.0% 11.0% 14.0% Financial margin with clients 12.1% R$3.0 bn R$3.5 bn Financial margin with the market R$3.3 billion Cost of credit² R$36.6 billion R$34.5 bn R$38.5 bn Commissions and fees and results 4.0% 7.0% 6.3% from insurance oper

  15. Slide 15: 2026 Perspectives

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  16. Slide 16: Income statement base for 2026 guidance

    Income statement base for 2026 guidance Changes in managerial classifications and the consolidation of Avenue’s¹ results. Base for Guidance 2026 spreadsheet – Click here 2025 2025 In R $ billio n Reclassifications Avenue as reported Adjusted Financial Margin with Clients 121.1 2.8 0.1 124.1 Main rec

  17. Slide 17: Macroeconomic outlook

    Macroeconomic outlook 2025 2026e GDP – Brazil1 2.3% 1.9% SELIC (end of year) 15.00% 12.75% Inflation (IPCA) 4.3% 4.0% Unemployment2 5.4% 5.7% BRL/Dollar³ 5.47 5.50 (1) Estimated GDP 2025; (2) measured by PNAD Contínua (IBGE), end of year, seasonally adjusted; (3) end of year. 17 Corporativo | Intern

  18. Slide 18: 2026 Guidance

    2026 Guidance 2026 Guidance Total credit portfolio¹ Growth between 5.5% and 9.5% Credit portfolio - Brazil Growth between 6.5% and 10.5% Financial margin with clients Growth between 5.0% and 9.0% 2026 Guidance uses the Adjusted Income Financial margin with the market Between R$2.5 bn and R$5.5 bn St

  19. Slide 19: São Paulo, February 5th, 2026

    São Paulo, February 5th, 2026

  20. Slide 20: Additional information

    Additional information 20

  21. Slide 21: Results

    Results In R $ m illio n 4Q25 3Q25 D' 4Q24 D' 2025 2024 D' Operating Revenues 47,560 46,567 2.1% 44,098 7.9% 184,393 168,956 9.1% Managerial Financial Margin 31,527 31,382 0.5% 29,388 7.3% 124,408 112,445 10.6% Financial Margin with Clients 30,930 30,479 1.5% 28,484 8.6% 121,128 108,024 12.1% Financ

  22. Slide 22: Business model

    Business model 2025 2024 D (2025 x 2024) In R$ billion Insurance Excess Insurance Excess Insurance Excess Total Credit Trading Total Credit Trading Total Credit Trading & services capital & services capital & services capital Operating revenues 184.4 101.6 3.6 76.6 2.7 169.0 93.2 3.4 70.5 1.9 15.4 8

  23. Slide 23: São Paulo, February 5th, 2026

    São Paulo, February 5th, 2026

Itau Unibanco Holding — Q4 2025 Earnings Presentation on 6ix