54 slides from Intercorp Financial Services's earnings presentation, February 2026
Slide 1: IFS Investor presentation
IFS Investor presentation February 20 26
Slide 2: IFS at a glance
IFS at a glance 1
Slide 3: Leading financial platform
Leading financial platform Financial highlights Leading indicators As of December 30, 2025 S/ mn | US$ mn Assets 99,097 | 29,467 ~ 20 % MS consumer loans ~ 11% MS commercial loans ~ 15% MS retail deposits Gross loans 52,361 | 15,570 Deposits 56,027 | 16,660 ISG investments 13,063 | 3,884 84 % Retail
Slide 4: Our strategy
Our strategy Growth To become a leading digital player with profitable growth Customer To build primary relationships Centricity offering the best digital experience Focus To grow with focus on key businesses 3
Slide 5: Strategic focus on key businesses
Strategic focus on key businesses Banking Insurance Wealth management Universal bank with distinctive focus Insurance company focused Advisory firm for the on a balanced portfolio on life & annuities emerging wealthy ~14% ms total loans +30% ms annuities (1) +13 YoY AUM Interfondos Commercial Retail
Slide 6: IFS: a world-class company
IFS: a world -class company IFS customers 7 mn +8 k employees Soluciones digitales 5
Slide 7: Sustainability as part of our strategic pillars
Sustainability as part of our strategic pillars, positively impacting our stakeholders ESG Foster respect Responsible for the environment social practices Sustainability culture 78 CSA Score 2025 Reinforce corporate governance, transparency and ethics Encourage inclusion, equality and diversity 6
Slide 8: IFS is part of the Intercorp Group
IFS is part of the Intercorp Group Financials Retail Education Health Entertainment Corporate services 7
Slide 9: Key investment highlights
Key investment highlights 1 Peruvian economy among the strongest in the region 2 Consistent growth boosted by new opportunities 3 Resilient financial performance 4 Focus on primary relationships through our payment’s ecosystem 5 Powerful digital platform, driven by constant innovation 8
Slide 10: Peruvian economy among the strongest in the region
Peruvian economy among the strongest in the region 9
Slide 11: Peru at a glance
Peru at a glance PBI 2026E Domestic demand Main export 2026E products 3.0% 3.5% Copper Gold Agro 32% 20% 14% Debt to GDP Risk Rating Net international Loans to GDP 2026E reserves to GDP S&P BBB - 31% Moody’s Fitch Baa1 BBB 28% 33% 10
Slide 12: Stable economic indicators with positive outlook
Stable economic indicators with positive outlook GDP growth YoY (%) Inflation YoY (%) 8.5% 13.4% 6.4% 2.2% 2.7% 3.3% 3.4% 3.0% 3.2% -0.6% 1.9% 2.0% 2.0% 2.0% 1.5% -10.9% 2019 2020 2021 2022 2023 2024 2025 2026E 2019 2020 2021 2022 2023 2024 2025 2026E Internal Demand YoY (%) Public and Private Inves
Slide 13: Peru is well positioned compared to LATAM peers
Peru is well positioned compared to LATAM peers Expected GDP 2026 growth (%) Latam avg . Avg . inflation 2021 -2025 (%) (*) 3.0% As of Dec25 1.5% 3.5% 4.3% 3.7% 5.1% 3.0% 2.8% 2.3% 6.3% 1.7% 5.9% 4.8% 5.0% 1.3% 3.6% Peru Chile Brazil Mexico Colombia Peru Chile Brazil Mexico Colombia Exchange rate ev
Slide 14: Consistent growth boosted by new opportunities
Consistent growth boosted by new opportunities 13
Slide 15: Opportunity: underpenetrated and profitable financial system in LATAM
Opportunity: underpenetrated and profitable financial system in LATAM Loans penetration Formal savings (Loans to GDP) (% of adult population ) 88% 39% 31% 25% 33% 42% 42% 17% 21% Peru Chile Brazil Mexico Colombia Peru Brazil Mexico Colombia Account ownership rate Insurance premiums penetration (% of
Slide 16: Focusing growth in key businesses
Focusing growth in key businesses Retail loans (S/ bn) Long -term +5 % YoY consumer loans (1) Insurance (2) 25.5 +5 % +8 % +22 % 24.4 4Q24 4Q25 YoY YoY affluent loans YoY CSM stock Commercial loans (3) (S/ bn) WM AUMs +17% YoY small businesses +3 % 23.1 +14% 22.5 4Q24 4Q25 YoY +2 % YoY mid-sized bus
Slide 17: Interbank becomes the third-largest player in Peru's banking sector
Interbank becomes the third -largest player in Peru’s banking sector MS total assets #3 12.7% 13.5% 13.4 % #1 Payroll deductible loans (1) #3 Dec-19 Dec-24 Dec-25 Consumer loans #3 MS t otal loans #2 13.9% 13.6% 12.6% Sales finance Dec-19 Dec-24 Dec-25 (*) Source : SBS (1) Among private banks 16
Slide 18: Key products growing faster than the market
Key products growing faster than the market Interbank total gross loans (S/ bn) MS commercial banking loans MS mid-sized banking loans 10.9% 10.8% 10.7% 11.0% 48.7 8.9% 8.4% 46.9 35.5 48% 48% Dic-19 Dec -19 Dec-24 Dec-25 Dic-19 Dec -19 Dec-24 Dec-25 46% 22% 23% MS mortgage loans 20% 12% 11% 15.9% 16
Slide 19: Resilience in consumer loans, gradual recovery ahead
Resilience in consumer loans, gradual recovery ahead Consumer loans (S/ bn) COVID -19 2025: Recovery Year + 5.0 % 2023 : YoY , and +2.3% QoQ Social unrest and Yaku (1) Food Domestic GDP: inflation : demand : -0.6% 11% -2.3% 3Q24: Pension 4Q25: Pension fund withdrawals fund withdrawals 10.4 10.8 10.6
Slide 20: Focused on enhancing our funding mix
Focused on enhancing our funding mix Interbank total deposits (S/ bn) MS total deposits MS retail deposits 13.3% 13.5% 13.4% 14.6% 14.4% Low -cost 28% 36% 40 % funding (*) 13.5% 53.7 51.1 Dec-19 Dec-24 Dec-25 Dec-19 Dec-24 Dec-25 47% 35.6 49% Float from IZIPAY (S/ mn) Financial stores -52% 55% 2,904
Slide 21: Insurance strengthen its position in key segments
Insurance strengthen its position in key segments MS private annuities (%) MS annuities (%) #1 #1 21.0% 24.5% 13.6% Jun-21 Dec -19 Dec-24 Dec-25 30. 5% 29.7% MS individual life (%) 28.9% #3 17.5% 16.0% 10.3% Dec-19 Dec-24 Dec-25 Dec-19 Dec-24 Dec-25 20
Slide 22: Resilient financial performance
Resilient financial performance 21
Slide 23: Recovering risk-adjusted profitability
Recovering risk -adjusted profitability Banking – Interest -earning assets (S/ bn) NIM evolution 72.3 75.8 15% 16% 52.4 16% 17% 11% 10.8% 19% 10.3% 9.9% 68% 67% 70% 2019 Dec -19 4Q19 De c-24 4Q24 20 24 De20c-25 4Q2525 Loans Cash and due from banks Financial Investments 5.4% 5.3% 5.3% Funding breakdo
Slide 24: Disciplined risk management culture
Disciplined risk management culture System IBK PDLs vs system IBK Cost of risk (%) FY19 Retail : 4.1% 3.4% 3.3% 3.1% Commercial : 0.0% Retail 3.0% 3.0% 2.8% Total: 2.2% 1.7% 2.0% 1.7% 5.2% Commercial 3.0% 4.7% 3.6% 2.6% 2.7% 2.5% 4.1% 4.2% Total 4.0% 3.0% 3.7% 3.3% 3.7% Dec -19 Set -24 De c-25 2.8%
Slide 25: +14% YoY in AUM leads recovery of fee income in WM
+14 YoY in AUM leads recovery of fee % income in WM AUMs & deposits (US$ bn) Fee income evolution +14% YoY (S/ mn) +15% YoY +6% 5y CAGR +18% YoY (1) 9.2 8.1 0.8 196 0.8 171 6.4 2.8 50 50 2.1 47 0.9 1.5 5.1 5.5 4.0 2019 2024 2025 Inteligo Bank Interfondos Deposits 4Q24 3Q25 4Q25 FY24 FY25 (1) FX adju
Slide 26: +22% in long-term insurance
+22 % in long -term insurance Long - term insurance (S/ mn) Short -term insurance (S/mn) (CSM stock by business unit) +22% YoY (Insurance PAA net premiums ) +2.2 x YoY +1% QoQ 497 1,075 1,086 161 170 130 223 891 122 55 129 4Q24 3Q25 4Q25 FY24 FY25 580 566 460 Results from investments (S/mn) ROI 6.1%
Slide 27: Increasing IT investments, with efficiency as top priority
Increasing IT investments , with efficiency as top priority IFS expenses (S/ mn) Banking expenses (S/ mn) C/I 38.9% 41.1% C/I 37.4% 36.8% 2,057 2,249 3,163 2,900 FY24 FY25 +9% YoY Banking expenses breakdown (S/ mn) YoY +13% +9% +6% +9% 44 2,249 48 101 2,057 FY24 FY25 +11% YoY (1) 2024 Technology Per
Slide 28: Earnings resilience throughout the credit cycle
Earnings resilience throughout the credit cycle ROE % 18% 18% 5% 20% 19% 11% 12% 17% +49% Net income (S/. mn) 1,943 1,800 1,678 1,450 1,307 1,091 1,079 384 2018 2019 2020 2021 2022 2023 2024 2025 Dividend per Share (US$) 1.75 1.75 0.77 1.75 1.18 1.00 1.00 Payout Ratio 61% 46% 85% 45% 31% 40% 32% Div
Slide 29: Sound capitalization levels
Sound capitalization levels Banking Insurance TCR CETI ratio 127.1% 125.2% 120.4% Banking (1) 100% System 14 .5% 17.4% 17.9% Reg. min. TCR 15.9% 2023 2024 2025 15.5% 16.0% 12.3% 12.5% 11.8% 11.7% Wealth management Reg. min. 6.8% 21.8% Reg. min. 17.4% 19.3% 12% Reg. min. 2023 2024 2025 2023 2024 2025
Slide 30: Focus on primary relationships through our payment's ecosystem
Focus on primary relationships through our payment’s ecosystem 29
Slide 31: Developing primary banking relationships
Developing primary banking relationships … +11% Primary banking relationships KPIs (Data as of Sep25) YoY retail primary banking customers ~14 % ~15% MS inflows MS retail payroll deposits IBK Plin transactions (mn) (1) 206 + 48 % YoY PLIN 139 transactions >26 % 51 MS credit NPS retail 4Q24 4Q25 card
Slide 32: … through our powerful payments ecosystem
… through our powerful payments ecosystem Pay everywhere , with Grow your business We optimize your your mobile phone with our solutions cash management Acquiring User Merchant Enterprise 31
Slide 33: Our payments ecosystem as a key driver of low-cost funding
Our payments Individuals ecosystem as a key driver of low -cost funding 84 % Digital retail +48 % YoY Plin customers transactions Small businesses Businesses + 60 % ~ 40 % IBK share of YoY flows from Izipay flows Izipay +26 % YoY Small + 35 % YoY float from businesses deposits Izipay 32
Slide 34: Driving innovation with a powerful digital platform
Driving innovation with a powerful digital platform 33
Slide 35: Full-scale digital platform to address our customers' digital needs
Payments Full-scale digital Plin platform to IzipayYa Savings address our 100% Piggy My Izipay finances bank customers ’ digital account Insurance needs SOAT digital Lending TC 360° Digital financing Life insurance Line BNPL management Marketplace Cuenta Sueldo Investments Marketplace Inteligo SAB E
Slide 36: Customer base growth continues across businesses
Customer base growth continues across businesses Banking (mn) Wealth management – +3% YoY customers (th) +8% YoY 5.4 5.6 83 90 Dec-24 Dec-25 Dec-24 Dec-25 Insurance – customers (mn) +6% YoY ~7 mn Unique clients IFS 3.0 3.2 Dec-24 Dec-25 35 (1) New methodology
Slide 37: Digital capabilities drive our banking business forward
Digital capabilities drive our banking business forward… Digital clients (%) Digital self service (%) Clients (mn) +4 0 % 4.0 5.6 vs Dec19 8 4 % 82 % Plin transactions (mn) +3.5x 2019 2025 vs 20 23 Branches -4 5% vs Dec19 688 255 139 195 2019 2025 2023 2025 36
Slide 38: … providing a world-class experience
… providing a world -class experience Digital customers Retail digital self -service NPS Retail (% of digital customers ) (% of digital self -service) (Points – Retail Banking ) 84 55 54 51 81 78 82 65 69 Dec-24 Jun-25 Dec-25 Dec-21 Dec-24 Dec-25 Dec-21 Dec-24 Dec-25 Retail digital sales (% of produ
Slide 39: Growing digital engagement across insurance & WM
Growing digital engagement across insurance & WM Interseguro direct digital sales Interseguro digital self -service (Collected premiums – s/mn) (% of total client interaction ) +25% YoY 34 69% 71% 27 4Q24 4Q25 4Q24 4Q25 Interfondos digital transactions Interfondos digital users (% of digital transac
Slide 40: Key takeaways
39 Key takeaways 39
Slide 41: Operating trends
Operating trends Capital Profitability Loans FY 2025 To remain at sound levels Continued path to recovery High single digit growth in total loans IBK TCR 16.0% IFS ROE 3.7% I 6.5 % (1) IBK CETI 12.5 % 16.8% Revenues Cost of risk Efficiency Slight recovery NIM Sound cost of risk Continued focus on ef
Slide 42: Takeaways
Takeaways 1 Peruvian economy among the strongest in the region 2 Consistent growth boosted by new opportunities 3 Resilient financial performance 4 Focus on primary relationships through our payment’s ecosystem 5 Powerful digital platform, driven by constant innovation 41
Slide 43: Appendix
Appendix 42
Slide 44: Diversified financial platform
Diversified financial platform Net Income by segment (S/. bn) Banking Insurance Wealth management % of 14% 3% 10% 12% IFS 85% 79% 77% 76% 9% 27% 15% 14% 231 292 275 200 1,475 1,229 202 137 1,007 856 130 36 2019 2023 2024 2025 2019 2023 2024 2025 2019 2023 2024 2025 ROE 21% 11% 12% 16% 15% 73% 42% 39
Slide 45: Earnings drive ROE to 16.8%
+49 % Banking ROE 12.2% 15.6% 1,475 YoY earnings 1,007 +46 % YoY drive ROE to 16.8% FY24 FY25 Insurance IFS accumulated net profit (S/ mn) ROE 41.6% 39.5% ROE 12.6% 16.8% | 18.5% (1) 275 (1) 202 2,149 +36 % YoY 1,943 FY24 FY25 -S/205mn RDL 1,307 Wealth management ROE 14.2% 21.5% 231 137 +68 % YoY FY
Slide 46: Core earnings and ROE recovery continues
Core earnings and ROE recovery continues 20.7% (1) (1) 18.2% 18.2% 19.1% 16.8% 20.0% 650 16.3% 15.1% 15.6% 15.1% 18.5% excl RdL 550 580 15.0% 490 456 461 11.2% 446 117 52 24 21.5% 450 72 37 390 63 10.0% 39.5% 38 5.6% 33 76 92 81 350 286 67 5.0% 250 79 141 401 403 0.0% 15.6% 348 343 328 150 26 299 14
Slide 47: Quarterly earnings despite RDL impact
Banking +1% ROE 16.0% 348 16.8% 401 16.1% 403 +16% YoY +0% QoQ QoQ earnings despite RDL impact 4Q24 3Q25 4Q25 Insurance IFS quarterly net profit (S/ mn) ROE 66.5% 22.3% 32.5% (1) (2) ROE 18.2% 15.6% | 18.2% 15.1% | 19.1 % -17% YoY 76 63 534 (1) 589 (2) 38 +67% QoQ 490 456 461 -S/129mn RDL 4Q24 3Q25
Slide 48: Accelerating credit cards and personal loans
Accelerating credit cards and personal loans Credit cards and personal loans (S/ bn) Personal loans (QoQ trend ) disbursements +2.0 % +2.3 % +40 % YoY Dec25 +0.0 % +0.6 % Credit cards 8.7 8.9 turnover 8.5 8.5 8.5 4Q24 1Q25 2Q25 3Q25 4Q25 +20 % YoY Dec25 47
Slide 49: NIM and risk-adjusted NIM evolution
NIM and risk-adjusted NIM evolution 11.2% 10.9% 10.8% 10.6% 10.5% 10.3% 10.0% 9.9% 9.9% 9.9% 9.4% 9.0% 7.9% 6.2% 5.6% 5.5% 5.3% 5.2% 5.3% 5.3% 5.2% 5.1% 5.2% 5.3% 4.9% 4.7% 4.6% 4.3% 3.6% 4.1% 4.0% 4.0% 3.5% 3.5% 3.3% 4.0% 2019 risk- 3.7% 3.2% 3.2% 3.8% adjusted NIM 3.2% 3.4% 3.0% 4.0% 4.0% 3.6% 2.0
Slide 50: Improvement in funding mix
Improvement in funding mix Low -cost funding (%) (1) Low -cost funding (S/bn) YoY 39.5% 22.5 +12.7% 22.2 +9.3% 36.2% +7.3% 8.1 +15.5% 7.0 12.8 14.4 +12.1% 4Q24 4Q25 4Q24 4Q25 Retail Commercial Institutional Other 1) Low cost funding as a % of total funding . Low -cost funding includes retail deposit
Slide 51: Loan growth evolution
Loan growth evolution (S/ mn) 6 year CAGR +6 % 48,681 46,921 44,049 41,525 18% 18% 36,794 16% 34,964 15% 33,276 15% 15% 27% 26% 15% 26% 27% 28% 28% 29% 22% 22% 23% 22% 20% 23% 23% 11% 12% 11% 12% 12% 12% 13% 22% 23% 22% 18% 18% 18% 20% 2019 2020 2021 2022 2023 2024 2025 Consumer Payroll deductible l
Slide 52: Sustainability update
Sustainability update Environmental Social +USD 540 mn Sustainable loans > 160 > 2,100 Peruvians accesed inclusive insurance through Rumbo & Vida Pilot with +10 hours of employees, families and Cash in 4Q25. + 90 clients financial literacy training entrepreneurs from 40 and impacting +100 Intersegur
Slide 53: Strong corporate governance
Strong corporate governance BOD with independent members Board of directors 4 6 Strong corporate governance Highly supervised related party exposure , well below regulatory limits Independent Independent Governance in accordance with NYSE members members and SEC Participation in S&P Global Corporate
Slide 54: Slide 54