Itau Unibanco Holding S.a. · BMFBOVESPA:ITUB3
Itau Unibanco — Q3 2025 Earnings Presentation
51 slides from Itau Unibanco's earnings presentation, Nov 5, 2025
Slide 1: Announcement to the Market 3rd Quarter 2025 Results
Announcement to the Market 3rd Quarter 2025 Results Itaú Unibanco Holding S.A. (“Company”) announces to the shareholders and to the market that the Condensed Financial Statements for the Year Ended September 30, 2025, and the Management Discussion and Analysis for the 3rd Quarter of 2025 are already
Slide 2: Attachment 01 (Portuguese only)
Attachment 01 (portuguese only)
Slide 3: São Paulo, 05 de Novembro de 2025
1 São Paulo, 05 de Novembro de 2025
Slide 4: Destaques
2(1) Considerando o Capital Principal (CET I) em 11,5%, no 3T25 o retorno recorrente gerencial consolidado seria de 25,4% e no Brasil seria 26,7%. (2) Inclui Títulos e Valores Mobiliários. 23,3% Carteira de crédito Resultado Recorrente Gerencial R$ 11,9 bilhões 3,2% vs. 2T25 set/25 ROE Recorrente Ge
Slide 5: Carteira de crédito
3 em R$ bilhões Nota: no primeiro trimestre de 2025, passamos a segmentar a carteira de agronegócio de acordo com o porte das empresas e a considerar os seguintes produtos: Fundos de Direitos Creditórios, exposições a instituições financeiras e as operações de nossa trading de agronegócio. Para melh
Slide 6: Receita de serviços e resultado de seguros
4 (1) A partir do 1º trimestre de 2025, a receita de adquirência, além da receita com pacotes de conta corrente PJ e receitas com Pix PJ, foi consolidada na linha de pagamentos e recebimentos (anteriormente serviços de recebimento). Para comparabilidade os períodos anteriores foram reclassificados.
Slide 7: Qualidade do crédito
5 3,8% 3,6% 3,6% 3,6% 1,7% 1,6% 1,6% 1,7% 0,13% 0,10% 0,08% 0,11% dez/24 mar/25 jun/25 set/25 NPL 15 - 90 dias - % Pessoas físicas Brasil Total Micro, pequenas e médias empresas América Latina Grandes empresas consolidado Qualidade do crédito NPL 90 dias - % Brasil consolidado Brasil Nota: No tercei
Slide 8: Qualidade de Crédito – Indicadores Resolução 4.966
6 4,4% 4,4% 4,3% 4,2% 6,0% 5,8% 5,9% 5,8% 4,2% 4,3% 4,2% 4,0% 3,5% 3,5% 3,3% 3,3% dez/24 mar/25 jun/25 set/25 55,0% 56,1% 55,8% 55,9% 59,8% 61,4% 59,2% 59,6% 42,4% 43,1% 43,4% 40,2% 55,3% 55,9% 57,1% 57,8% dez/24 mar/25 jun/25 set/25 Carteira Estágio 2 Pessoas físicas Total América Latina Pessoas Ju
Slide 9: Índice de Eficiência
7 ‘‘ BrasilConsolidado Índice de Eficiência em R$ bilhões Despesas não decorrentes de juros 3T25 2T25 D 3T24 D 9M25 9M24 D Comercial e administrativa (pessoal) (6,3) (6,1) 3,6% (6,1) 4,3% (18,2) (17,4) 5,0% Transacionais (pessoal, operações e atendimento) (4,5) (4,3) 4,9% (4,1) 9,9% (12,8) (11,9) 7,
Slide 10: Capital principal (CET I)
8 Capital principal (CET I) - jun/25 Lucro líquido do trimestre Índice de Capital nível I - set/25 13,1% + 0,8% Ajustes prudenciais e patrimoniais + 0,1% 1,3%² 13,5% (1) Excluindo a variação cambial do período, que foi considerada na coluna de ajustes prudenciais e patrimoniais junto com o hedge do
Slide 11: Guidance 2025
9 ‘ (1) Inclui garantias financeiras prestadas e títulos privados; (2) Composto por despesa de perda esperada, descontos concedidos e recuperação de créditos baixados como prejuízo; (3) Receitas de prestação de serviços (+) resultado de operações de seguros, previdência e capitalização (-) despesas
Slide 12: São Paulo, de Novembro de 2025
10 São Paulo, 05 de Novembro de 2025
Slide 13: Investor Relations
ITAU UNIBANCO HOLDING S.A. | CNPJ 60.872.504/0001-23 itau.com. br/relacoes-com-investidores/en/ Investor Relations 4551127943547 ri@itau-unibanco.com.br
Slide 14: São Paulo, November 5th, 2025
1 São Paulo, November 5th, 2025
Slide 15: Highlights
2(1) Considering the Common Equity Tier I (CET I) at 11.5%, in 3Q25 the consolidated recurring managerial return would have been 25.4% and 26.7% in Brazil.(2) Includes securities. 23.3% Credit portfolio Recurring Managerial Result R$11.9 billion 3.2% vs. 2Q25 Sep-25 Recurring Managerial ROE¹ 90 days
Slide 16: Credit portfolio
3Note: in the first quarter of 2025, the agribusiness portfolio was reclassified according to the size of the companies and the following products were included: FiDC, exposures to financial institutions and the operations of our agribusiness trading company. For comparability purpose, the historica
Slide 17: Financial Margin with Clients
4 R$0.2 bn (+0.5%) in R$ billion Annualized average margin Brazil Annualized average margin consolidated 8.7% 8.6% 9.0% 9.2% 9.0% 6.0% 5.9% 6.1% 6.3% 6.2% 3T24 4T24 1T25 2T25 3T25 9.5% 9.3% 9.8% 10.0% 9.8% 6.5% 6.3% 6.6% 6.9% 6.7% 3T24 4T24 1T25 2T25 3T25 Financial Margin with Clients R$10.7 bn (+13
Slide 18: Financial margin with the market
5 ‘‘ 0.4 0.7 4.1 3.8 -0.9 -1.8 3.5 2.7 9M24 9M25 Financial margin with the market Brazil Latin America Capital index hedge in R$ billion 0.1 0.1 0.1 0.2 0.2 0.3 1.6 1.3 1.3 1.2 1.3 1.3 1.4 1.1 0.9 0.9 0.9 0.9 -0.3 -0.4 -0.5 -0.5 -0.6 -0.7 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25
Slide 19: Commissions, fees and result from insurance
6 (1) As of the first quarter of 2025, revenues from acquiring services, in addition to revenues from current account services for companies and PIX, were consolidated in the payments and collections line (previously collection services). For comparison purposes, past figures were reclassified. (2)
Slide 20: Credit Quality
7 3.8% 3.6% 3.6% 3.6% 1.7% 1.6% 1.6% 1.7% 0.13% 0.10% 0.08% 0.11% Dec-24 Mar-25 Jun-25 Sep-25 15 – 90 days NPL - % consolidated Credit Quality 90 days NPL- % Brazil consolidated Brazil Note: In the third quarter of 2025, we sold loans with low probability of recovery to unrelated companies and witho
Slide 21: Credit Quality – Resolution 4,966 ratios
8 Credit Quality – Resolution 4,966 ratios Stage 2 portfolio Stage 3 portfolio Stage 3 coverageStage 2 coverage 4.1% 4.3% 4.2% 4.1% 7.7% 8.0% 7.8% 7.6% 4.6% 4.6% 4.6% 4.4% 1.7% 1.8% 1.8% 1.9% Dec-24 Mar-25 Jun-25 Sep-25 22.9% 23.7% 24.1% 23.9% 24.5% 26.1% 26.5% 26.5% 16.9% 16.6% 16.7% 14.5% 23.9% 22
Slide 22: Quality and cost of credit
9 37.4 35.8 34.6 34.2 33.1 32.8 18.3 17.4 16.8 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Renegociada Reestruturada 25.9 27.2 9M24 9M25 Credit only (1) Average of the new loan portfolio balance ex- financial guarantees provided, considering the last two quarters; (2) Expected loss expenses + recovery
Slide 23: Efficiency ratio and non-interest expenses
10 Efficiency ratio Non-interest expenses 10 46.0% 46.3% 44.4% 41.6% 39.8% 39.1% 38.8%44.5% 44.3% 42.5% 39.0% 37.8% 37.5% 36.9% 9M19 9M20 9M21 9M22 9M23 9M24 9M25 ‘‘ In R$ billion 3Q25 2Q25 D 3Q24 D 9M25 9M24 D Commercial and administrative (personnel) (6.3) (6.1) 3.6% (6.1) 4.3% (18.2) (17.4) 5.0%
Slide 24: Common Equity Tier I (CET I)
11 Jun-25 Common Equity Tier I (CET I) Net income in the quarter Sep-25 Tier I capital 13.1% + 0.8% Prudential and equity adjustments + 0.1% 1.3%² 13.5% (1) Excluding the exchange rate variation for the period that, together wit the capital index hedge, is considered in the prudential and equity adj
Slide 25: Guidance 2025
12 Guidance 2025 Previous Total credit portfolio¹ Financial margin with clients Cost of credit² Financial margin with the market Commissions and fees and results from insurance operations³ Non-interest expenses Effective tax rate Growth between 4.5% and 8.5% Between 28.5% and 30.5% Growth between 5.
Slide 26: São Paulo, November 5th, 2025
13 São Paulo, November 5th, 2025
Slide 27: Additional Information
14 Additional Information
Slide 28: Results
15 Results (1) Revenues from Insurance includes the Revenues from Insurance, Pension Plan and Premium Bonds Operations before Retained Claims and Selling Expenses. In R $ millio n 3Q25 2Q25 3Q24 9M25 9M24 Operating Revenues 46,567 45,728 1.8% 42,694 9.1% 136,832 124,858 9.6% Managerial Financial Mar
Slide 29: Business model
16 Business model In R$ billion (1) Revenues from Insurance includes the Revenues from Insurance, Pension Plan and Premium Bonds Operations before Retained Claims and Selling Expenses. (2) Include Tax Expenses (ISS, PIS, COFINS and other), Insurance Selling Expenses and Minority Interests in Subsidi
Slide 30: São Paulo, November 5th, 2025
17 São Paulo, November 5th, 2025
Slide 31: Investor Relations
ITAU UNIBANCO HOLDING S.A. | CNPJ 60.872.504/0001-23 itau.com. br/relacoes-com-investidores/en/ Investor Relations 4551127943547 ri@itau-unibanco.com.br
Slide 32: Institutional Presentation
Institutional Presentation
Slide 33: Recurring Managerial Result
Recurring Managerial Result RS11.9 bnin 3Q25 93.3% Brazil| 6.7% Latin America’ USD 8.6 bn We are a universal bank present in 63 leconntnies with retail operations in Latin America We are obstinate to delight ;, through physical and digital services. We seek to transform ourselves whenever needed for
Slide 34: Our values guide us towards the Itaú of the future
Our values guide us towards the Itau of the future, with ethics being the base of this journey We put le don’t have We have the client all the each other’s first answers back diversity and inclusion driven by results
Slide 35: Click Here for more Info
• • • • •• • Click Here for more Info
Slide 36: We offer a complete ecosystem...
We offer a complete ecosystem... Individuals From BRL7k to BRLIS k Up to BRL7k Very Small and Small Companies Up to BRLSO million Middle From BRL5SO. million to BRL500 million =. als ref mmm Corporate The values mentioned above for monthly income and the values for corporate refer to annual revenue,
Slide 37: A gente trabalha para o cliente
A gente trabalha para o cliente
Slide 38: Our clients choose how they want to be served...
Our clients choose how they want to be served... WhatsApp Click to human E-mail Bankline Telephone Mobile banking 100% of the Chat features in the App (1) Chile, Colombia, Paraguay and Uruguay 2.6 k Branches 39.6 k ATMs In Brazil and in our Other Latin American’ operations (2) It considers total fin
Slide 39: ... that's why it's so important to listen to our clients
... that's why it's so important to listen to our clients * Our commitment: to serve our clients where, when and how they want to be served Access to the same type of service, independently of the channel Freedom to choose the type of relationship: we are a digital bank with the advantage of in-pers
Slide 40: AI-driven strategy enhancing efficiency and hyper-personalization
99% Quality 9M25 x 9M18 increase in technology updates implemented reduction in UX high- impact incidents reduction in the cost of single transactions 2,087% Speed 9M25 x 9M18 45% Cost 9M25 x 9M18 Quality Method Artificial Intelligence Hyper personalization Efficiency Speed Design Excellence in user
Slide 41: Non-interest expenses evolution
> 1 k initiatives under implementation 10 > 20k Employees > 2,9k Squads Personnel Expenses (commercial and administrative) 2015 x 2024 Deflated evolution Deflated evolution p.a. Transactional Expenses (operations and client services) Technology Expenses (personnel and infrastructure) Other Total - B
Slide 42: Climate transition, sustainable finance, diversity, governance
Climate transition Sustainable finance Diversity and development Governance and Conduct
Slide 43: ESG strategic goals: Net Zero by 2050
ESG strategic goals Commitment Net Zero by 2050 We are committed to becoming a carbon neutral bank by 2050 Reduce 50% Our operational emissions (Scopes 1, 2 and 3¹) by 2030² Carbon- intensive sectors Set targets and report progress in decarbonising priority carbon-intensive sectors to bring our port
Slide 44: ESG strategic goals for 2025 and workforce diversity
Women 53.9% of employees by the end of 2024 Black 28.9% of employees by the end of 2024 Leadership positions Goal: 35% to 40% Location 96.7% employees in Brazil 3.3% in International units Hiring flow Goal: >50% Full time employees¹ Goal: 27% to 30% Hiring flow Goal: >40% ESG strategic goals for 202
Slide 45: Sustainable finance volume goal of R$1 trillion by 2030
of R$1 trillion by the end of 2030 Direct to lending and financing for the sustainable economy from 2020¹. R$522 bn of total resources directed between Jan/20 and Aug/25 2020 2021 2022 2023 2024 2025 R$1 trillion Volume of resources in sustainable finance ESG strategic goals
Slide 46: Focus on sustainable value creation
... and by the focus in sustainable value creation driven by results. 24.1% 23.9% 22.2% 20.9% 20.3% 218% 271.9% 237% 193% 203% 21.0% 16.0% 16.3% 17.0% 14.8% 14.6% h 4.6% 14.0% 13.0% 12.9% 13.2% 143% 144% 13.9% 2013, 2014 «2015 «2016 §=62017_ «2018 §= 2019 2020 «2021 = 2022 = 2023S 2024 —O- ROE —O- A
Slide 47: 3Q21 3Q22 3Q23 3Q24 3Q21 3Q22 3Q23 3Q24 3Q21 3Q22 3Q23 3Q24 3Q21 3Q22
3Q21 3Q22 3Q23 3Q24 3Q21 3Q22 3Q23 3Q24 3Q21 3Q22 3Q23 3Q24 3Q21 3Q22 3Q23 3Q24 3Q21 3Q22 3Q23 3Q24 3Q21 3Q22 3Q23 3Q24 Note: The 2025 results consider the application of Resolution 4,966.
Slide 48: Sep-21 Sep-22 Sep-23 Sep-24 Sep-21 Sep-22 Sep-23 Sep-24 Sep-21 Sep-22 Sep-23 Sep-24 Sep-21 Sep-22
Sep-21 Sep-22 Sep-23 Sep-24 Sep-21 Sep-22 Sep-23 Sep-24 Sep-21 Sep-22 Sep-23 Sep-24 Sep-21 Sep-22 Sep-23 Sep-24 Sep-21 Sep-22 Sep-23 Sep-24 Sep-21 Sep-22 Sep-23 Sep-24 17
Slide 49: Guidance 2025
Previous Total credit portfolio¹ Financial margin with clients Cost of credit² Financial margin with the market Commissions and fees and results from insurance operations³ Non-interest expenses Effective tax rate Growth between 4.5% and 8.5% Between 28.5% and 30.5% Growth between 5.5% and 8.5% Growt
Slide 50: Exploring possible growth paths
| ... exploring possible growth paths in Mite different businesses @ One Itai - one of the Corporate Beyond banking - main levers in the short development — Solutions platform that term to intensify guarantee the most goes beyond the banking relationships with our complete portfolio of needs of our
Slide 51: Investor Relations
(11) 2794-3547 | ri@itau-unibanco.com.br | www.itau.com.br/relacoes-com-investidores/en/ Investor Relations
Itau Unibanco Holding — Q3 2025 Earnings Presentation on 6ix