Itau Unibanco Holding S.a. · BMFBOVESPA:ITUB3
Itau Unibanco — Q1 2024 Earnings Presentation
51 slides from Itau Unibanco's earnings presentation, May 7, 2024
Slide 1: Announcement to the Market: 1st Quarter 2024 Result
ITAU UNIBANCO HOLDINGS.A. (CNPU 60.872.504/0001-23 A Publicly-Listed Company NIRE 35300010230 ANNOUNCEMENT TO THE MARKET Ita Unibanco Holding S.A. 18‘ Quarter 2024 Result Itau Unibanco Holding S.A. (“Company”) announces to its shareholders and the market at large that the Complete Financial Statemen
Slide 2: Attachment 01 (Portuguese only)
Attachment 01 (portuguese only)
Slide 3: Resultados 1T24
Slide 4: Destaques do trimestre consolidado
Destaques do trimestre consolidado 1124 vs. 4123 Resultado ROE Consolidado 21,9% A 0,7p.p. Recorrente R$ 9,8 bilhdes A 3,9% Recorrente ii Gerencial Gerencial Brasil 22,7% A 0,5p.p. Custo id RS 8,Bbihdes Vv 39% NPL Consolidado 2,7% VY O,1p.p. Crédito >90 dias PessoasFisicas 4,2% V 0,2p.p. Despesas na
Slide 5: Carteira de crédito
Carteira de crédito emasbinges Pessoas fisicas Cartéo de crédito Crédito pessoal Crédito consignado Vefculos Crédito imobilidrio Micro, pequenas e médias empresas Grandes empresas Total Brasil América Latina Total’ Total (ex-variagao cambial) mar/24 413,4 1309 62,5 BS 38 1128 193,0 376,0 982,5 202,3
Slide 6: Carteira de Crédito PF
Carteira de Crédito PF Salda de risco de clientes que destroem valor ‘100 Efeito negativo adicional de 0,5% na carteira PF até o final deste ano, oqual esta contemplado no guidance 2024 dez/22 mar/23_jun/23_—set/23_dez/23_ mar/24 jun/24—set/24_—dez/24 crédito Pr ex-clientes comrisco deteriorado mmmC
Slide 7: Margem financeira com clientes
Margem financeira com clientes Variagéo emRSbihes i A R$ 2,2bi (+9,4%) YRS 0,4 bi (-1,7%) -—————— 23,6 ie — 23,2 o On 22,8 o_o a | ; : - - 1723 am Capitalde Gro" Operactes Mixde -Volumemédio Spreadsemargem Menorquartidade AméricaLatinae Operacées _Capitalde Gro’ Se argenting Propriogoutros Sensiveis
Slide 8: Qualidade do crédito
Qualidade do crédito NPL15 -90 dias -% NPL90 dias-% consolidado consolidado 35% 3.0% 32% 26% 25% 2.5% 26 2 23% 25% 25%23% 2A 31% ‘oxox © brasi 2 2.9% 29% 30%3.0% 28% 79% 2,43 We +73 2.3% 2.3% 25% 28%" — > need . 22% 23% 23% 2, améca i Base 1.6% 17% Oats 0 5% 16% O-7,8% 2.0% 1,9% VE Tae Ome 1,3% 1,3%
Slide 9: Despesas não decorrentes de juros
Despesas nao decorrentes de juros emasbinges Despesas de pessoal (65) Despesas administrativas eoutras' (60) Total - Brasil (12,5) s - 38.3% ‘América Latina (ex-Argentina) (0) Despesasndodecorrentesdejuros | (44 4) 378% 368% (Ex-Argentina) i asm aTan22 T2328 Bone - “O- Contoldado ~O- Brasil Despesas
Slide 10: Guidance 2024
Guidance 2024 Realizado Realizado Guidance 1724x1723 Guidance em base 1724 x 1123 Ex- Argentina comparavel 4 Carteira de crédito total ' 2,8% 65% 9.5% Carteira de crédito total ex-variagao cambial 5,6% * Margem financeira com clientes ie oe Margem financeira como mercado apuragio do Guidance conside
Slide 11: Itaú Day
Itau Day 2024 19 jun call as 11h30 io de Brasilia’
Slide 12: Slide 12
Slide 13: Attachment
Attachment 02
Slide 14: Earnings review 1Q24
Slide 15: Quarter highlights consolidated
Quarter highlights consolidated ange Recurring Managerial Result Cost of Credit Non-Interest Expenses R$9.8 billion R$8.8 billion R$14.4 billion A 3.9% Vv 3.9% Vv 6.2% Recurring Managerial ROE +90 days NPL Efficiency Ratio Consolidated 21.9% Brazil 22.7% Consolidated 2.7% Individuals 4.2% Consolidat
Slide 16: Credit portfolio
Credit portfolio InRStlion Individuals Credit cardloans Personal loans Payrollloans Auto loans Mortgage Very small, small and middle market loans Corporate loans Total Brazil Latin America Total’ Total (ex-fx variation) 413.4 0.9 625 BS 33.8 12.8 193.0 376.0 982.5 202.3 1,184.8 1,184.8 -0.6% 3.4% 3.
Slide 17: Individuals' credit portfolio
Individuals’ credit portfolio Exiting clients that destroy value [t0o! Additional negative effect of 0.5% on the individuals’ portfolio until the end of this year, which is included in the 2024 guidance. Dec-22 Mar-23 Jun-23. Sep-23 Dec-23 Mar-24 Jun-24 sep-24Dec-24 Individuals portfolio ex-cients w
Slide 18: Financial margin with clients
Financial margin with clients Change inS billon A R$2.2bn (+9.4%) YY R$0.4 bn (-1.7%) 01 0.1 | i . 1923, Workingcapital’ Spread-sensitve Productmix?Averagevolume _Spreadsand _—Fewernumber of Latin Americaand Spread-sensitive _ Working capital" eeargenting andothers4Q23 operations 4023, lablltiesmarg
Slide 19: Financial margin with the market
Financial margin with the market InRStlion B® srazil @ Latinamerica @ Capitalindexhedge 0.6 (1Q23] {2923} [3Q23] [1924]
Slide 20: Commissions, fees and result from insurance
Commissions, fees and result from insurance InRStlion Credit and debit cards Cardissuance Acquiring Current account services Asset management" Advisory services and brokerage Credit operations and guarantees provided Collection services Other Latin America (ex-Brazil) Commissions and fees Insurance,
Slide 21: Credit quality
Credit quality 15-90daysNPL% 90 days NPL % consolidated consolidated 35% 3.5% 3.5% 32% 3.2% 24% 3.4% 29%3.0%™ 2.6% 27% 2.7% 2.1% 2.8% 2.8% 25% 2.5% 20%, Or 28u29% 29% 30K20%28%99% “Or al 19% 2.0%, 2. ot A\.9% 2.0%, 992 > To! 4.0% Lain 9 1.6% 1.6% 17% OD ner Loan 2.0% 19% AR Tag tan THK 13% 13% 1.8%
Slide 22: Quality and cost of credit
Quality and cost of credit Cost of credit? inrsbition oat a aes 0 3.0% © Annualized cost of credit / Loan portfolio? - (%) 94 93 92 a8 . | a L 2a 12 3030310 Renegotiated portfolio cars sitio -o- Renegotiated portfolio / Total portfolio - (%) 3.9% “ies é 3.5% 6% 35% a A 33% 32% 398-409 409-390 376 :
Slide 23: Non-interest expenses
Non-interest expenses InRStlion Personnel Administrative and other Efficiency ratio 46.3% . 44.8% 44.6% Total - Brazil —— ox Latin America (ex-Argentina) 448% 470% Bee ‘ 9.6% Non-interest expenses ® 378% 36.8% (Ex-Argentina) ris 1@20 att? 10231024 esti ~O- consolidated ~O- srl Non-interest expenses
Slide 24: Capital
Capital 14.5% 9) - + Ee 13.7% 0.91% 12.8% 0.56% 0.04% - 0.34% 15% 13.0% Dec-23 Additional Common equity Net income, Prudential and Risk-weighted Mar-24 ‘Common dividends Tier | (CET!) - pro dividends and equity assets? Tier | capital equity Tier! forma after interest on own adjustments (CET!) paymen
Slide 25: 2024 Guidance Actual
2024 Guidance Actual Actual Guidance 1024 x 1023 Guidance ona 1Q24 x 1923 Ex-Argentina comparable basis* Total credit portfolio’ 2.8% 65% 9.5% Total credit portfolio ex-foreign exchange 5.6% * Financial margin with clients Te ay Financial margin with the market a 7 Gieiats Rieti eae vigltYs Roba: St
Slide 26: Itaú Day
Itau Day 2024 June 19th 9:00 to 11:30 (Brasilia time)
Slide 27: Slide 27
Slide 28: Additional information
Additional information < a aD = oS oO zr ie} gy f= ise 2 i=} 5 = o £
Slide 29: Results
Results InRStilion Operating revenues ‘Managerial financial mar Financial margin with clients Financial margin with the market ‘Commissions and fees Revenues from insurance Cost of credit Provi mn from loan losses impairment Discounts granted Recovery of loans written off as losses Retained claims O
Slide 30: Business model
Business model 1024 ) 1023 ) Change (1024x1023) ) InRSbiton Insurance Excess, Insurance Bxcese, Trading eurence Credit Trading aurence Operating revenues aoa] 25] 07| 17] 04 ws| na] os| us| oz Managerilfinancialmargin 263 | w5| 07| 73/04 x7} vo} o5| 61] 02 Commissions and fees wo} 41] oo] 68 3] 39|
Slide 31: Results: 2023 income statement excluding Banco Itaú Argentina
Results 2023 income statement, excluding Banco Itat Argentina For a better understanding of the 2024 projections, we present below the quarterly and accumulated income statement for 2023, excluding the results of Banco itau Argentina. Due to the fact that in August 2023, we entered into an agreement
Slide 32: Slide 32
Slide 33: Attachment
Attachment 03
Slide 34: 1Q24 Institutional Presentation
Slide 35: With operations in Latin America
With operations in Latin America Weare obstinate to delight through physical and digital services. We seek to transform ourselves whenever needed for sustainable growth Weare the only Latin America bank making up the Dow Jones Sustainability Index since it was launched
Slide 36: ... And our values guide us
... And our values guide us ds the Itat of the Ee ae towards t! tof the put the don’t have future, with ethics being the baseetehishmamney client first. all the answers. Tous, ethics are non-negotiable. We We value We are driven diversity have each by results. and inclusion. other’s back.
Slide 37: Our ability to adapt, innovate and change has enabled us to get where we are now
Our ability to adapt, innovate and change has enabled us to get where we are now. ‘One of the fourtop bd a oon Bz four => ; (iPhone pra ; data processing > Sumipnweo porto oak Casa Moreira centers in Brazil is . Merger of Banco " launched Salles (Unibanco) set up 4983. —_‘Firstbankwith Itad and Unib
Slide 38: We offer an ecosystem...
We offer an ecosystem... as mmm ndividuals unilass Integrated systems enable the best and most complete experience allowing our customers full Over BRL Shor rmoretran aR 250kintetal FromBRLakto BRL access to our solutions in a simple manner. Itaderanches private Bank Over BRL 15 renin itau | very sm
Slide 39: Products and services
services Acquiring (Laranjinha) Digan conactesspayrentand morethansO nde N=) Fund Administration EAT compe pordoiothoughown andthe pary produc count Bank Account Acceseto severaleervices anc benef forad customers Loans 1008 oninethrough the apport the branches. Credit Cards Weravescerotoreschchant p
Slide 40: Our clients choose how they want to be served...
Our clients choose how they want to be served... In-Person 3.4k Branches Around 41k ATMs In Brazil and in our Other Latin American’ operations 1) Chile, colombia, Paraguay and Uruguay {@yitconsiders total financing contracts, transfers andpayments ‘madeinallchannels, except for cash. Digital Interac
Slide 41: The client is the focus of everything we do
The client is the focus of everything we do ‘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 area digital bank with the advantage of in- person service 900
Slide 42: Technology enables the best service to our clients
j=) Technology enables the best service to our clients the answers, Efficiency Since 2018, we have intensified our digital transformation to generate more value for our clients and competitiveness for our businesses Technology of experience Upgrade and focus integratedto the pie __ More than 60% of
Slide 43: Digital and cultural transformation generates efficiency gains and competitiveness
Digital and cultural transformation generates efficiency gains and competitiveness Continuous investment in technology 102452018 tounderstand our clients’ Solution Infrastructure needs and to offer what they need when development costs they need them mestments Strengthening culture Ongoing activitie
Slide 44: A diverse team is essential to better understand and serve our clients
<2) A diverse team is essential to better understand and serve our clients Women 54.5% das of employees Black People 28.9% of employees PWD? LGBT+ 5% {9B 13.0% of employees cof employees _ We believe that a and team contributes to our goal of being the Age Group Age Group Age Group in and 5.7% 35.4%
Slide 45: The sustainability of our performance is reinforced by our commitments to positive impact
WH The sustainability of our performance is reinforced by our commitments to positive impact... Basis for our conduct Ethics in relations and business B Maintain a healthy and ethical financial ecosystem and our way of doing x Inclusive management things Promote adiverse, inclusive and healthy work
Slide 46: ... and by the focus in sustainable value creation
... and by the focus in sustainable value creation 24.1% —- 23.9% 23.7% 219% 21.8% 21.9% 19.3% 203% X aes Mae 13.8% 2013 «2014-2015, 2016.) 2017,—s«2018.—S 2019S 2020. 2021 20222023 1923 1024 —O- ROE —O- Average cost of capital 35.6 soon OES 28.4 a 30.8 1924 vs 1923 ~ 123 ee ao 02 168 .. 82 44 82 92
Slide 47: We have been presenting higher revenue with a cost discipline...
ES | We have been presenting higher revenue with a cost discipline...
Slide 48: ... without overlooking risk management
... without overlooking risk management folio* Mar-24 BRL 1,185 bn ~07% ~ 2.8% Mar-28ve.D2e-28 788 Mar20 906 Mar21 298 Mart 232 Marz2 212 Marz {RL Bion) Mar- BRL 1,369 bn
Slide 49: We expect to continue delivering solid performance...
We expect to continue delivering solid performance... . C lidated Growthona 2024 Guidance nso ere comparable basis4 = as Growth between Total credit portfolio’ 65% sndoee Fi ial anand Growth between rowth between alien 4.5% and 7.5% 5.5% and 8.5% ‘ . Seri Between Financial margin with the market Bat
Slide 50: ... exploring possible growth paths in different businesses
= | ... exploring possible growth paths in different businesses ie 7 <Q Individuals =” ( ) Insurance HtaGishop More engagement and “samara Potential growth in the sector principality and increase penetration in our individual and corporate client base throughout own One Ital - one of themainlevers —
Slide 51: Investor Relations
Itau Unibanco Holding — Q1 2024 Earnings Presentation on 6ix