Slide 1: 1st Half of 2025 Earnings
earnings | “all in focus ITAUSA 1st HALF OF 2025
Slide 2: Agenda
AGEN A 01 02 03 BUSINESS 1H25 LIQUIDITY ENVIRONMENT EARNINGS MANAGEMENT 04 05 06 DIVIDENDS FINAL Q&A REMARKS SESSION
Slide 3: Business Environment
01 —__] BUSINESS ENVIRONMENT
Slide 4: Macroeconomic Scenario
01 MACROECONOMIC SCENARIO Brazilian GDP¹ Selic¹ IPCA¹ 2024 3.4% 12.25% p.y. 4.8% (▲ 0.2 p.p. vs. 2023) (▲0.5 p.p. vs. 2023) (▲0.2 p.p. vs. 2023) 2025e² 2.2% 15.00% p.y. 5.2% (▼1.2 p.p. vs. 2024) (▲2.75 p.p. vs. 2024) (▲0.4 p.p. vs. 2024) 2026e² 1.5% 12.75% p.y. 4.4% (▼0.6 p.p. vs. 2025e) (▼2.25 p.p.
Slide 5: Record Results 1H25
01 RECORD RESULTS 1H25 Net Income1 Recurring Net Income Shareholders’ Equity R$ 8.0 bn R$ 7.9 bn R$ 89.6 bn ▲10% vs. 1H24 ▲10% vs. 1H24 ▲7% vs. 06.30.2024 ROE Recurring ROE Portfolio Market Value2 18.0% p.y. 17.9% p.y. R$ 159.3 bn ▲0.4 p.p. vs. 1H24 ▲0.3 p.p. vs. 1H24 ▲24% vs. 06.30.2024 (1) Impacte
Slide 6: Performance of ITSA4 Shares
01 PERFORMANCE OF ITSA4 SHARES OUTPERFORM BENCHMARKS 12 months² 5 years² 10 years² ITSA4¹ 28.7% 102.7% 285.2% IBOVESPA 12.1% 46.1% 161.6% IBrX100 12.1% 46.1% 166.6% S&P500 13.6% 100.1% 200.8% (1) Adjusted by dividends. (2) Closing price as of 06.30.2025. Source: Economática.
Slide 7: High Discount Does Not Reflect the Fair Value
Portfolio Market Value R$ 151.7 billion¹ (Jul/25) R$ 10.5 HIGH DISCOUNT R$ 141.2 billion billion DOES NOT REFLECT Other investees² THE FAIR VALUE Discount OF OUR PORTFOLIO 25.0% Doesn't reflect the end of fiscal inefficiency Itaúsa’s Market Cap R$ 113.8 billion¹ (Jul/25) (1) Market value of the list
Slide 8: 1H25 Earnings
02 —_—_] 1H25 EARNINGS
Slide 9: 1H25 vs. 1H24 Our Investees' Recurring Result
02 1H25 vs. 1H24 OUR INVESTEES’ RECURRING RESULT¹ Net Recurring and Recurring Recurring and Consolidated Recurring EBITDA Income Adjusted EBITDA2 EBITDA Adjusted EBITDA Adjusted EBITDA3 EBITDA R$ 3.7 bn R$ 21.6 bn R$ 1.0 bn R$ 399 mn R$ 4.5 bn R$ 3.4 bn R$ 570 mn ▲ 12% ▲ 9% ▲ 31% ▲ 122% ▲ 9% ▲ 22% ▲
Slide 10: Breakdown of Itaúsa's Net Income
02 BREAKDOWN OF ITAÚSA’S NET INCOME (in R$ million) 1H25 8,455 67 2 7,913 7,980 Non-financial 503 Sector (425) (120) ▲ 23% Financial Sector ▲ 10% 8,072 (120) Others¹ Investees’ Holding Financial Income Tax 1H25 Non-recurring 1H25 Net Result Result Result and Social Recurring Net items Income Contrib
Slide 11: Breakdown of Investees' Result
02 INVESTEES’ RESULT BREAKDOWN OF (in R$ million) 1H25 8,072 144 129 97 65 36 30 8,455 (120) Others² Investees’ Result Total: Non-financial Sector R$ 503 mn¹ ▲ 23% (1) In addition to the non-financial sector, the amount of R$ 2 million related to other companies is also considered. (2) Refers mainly
Slide 12: Evolution of Holding Result
02 EVOLUTION OF HOLDING RESULT 1H25 vs. 1H24 (in R$ million) ▲ R$ 107 Itaúsa’s 1H25 Own Results ▲34% -R$ 425 million, being: (121) 3 3 (425) (-) Tax Expenses R$ 332 million (318) 6 (-) Administrative Expenses R$ 82 million (-) Donations to the Itaúsa’s Institute R$ 13 million 1H24 ∆ Administrative ∆
Slide 13: Evolution of Financial Result
02 1H25 vs. 1H24 EVOLUTION OF FINANCIAL RESULT (in R$ million) 1H25 Financial Results (120) (64) (120) -R$ 120 million, being: 3 (-) Interest Expenses R$ 331 million 61 (+) Cash Profitability R$ 246 million (-) Others 1H24 ∆ Cash ∆ ∆ Others 1H25 R$ 34 million Profitability Interest Expenses (Debentu
Slide 14: Liquidity Management
03 —_——_] LIQUIDITY MANAGEMENT
Slide 15: Track Record of the Liability Management Strategy
03 TRACK RECORD OF THE LIABILITY MANAGEMENT STRATEGY 2022 2023 2024 2025 Gross Debt Gross Debt R$ 8.4 bn R$ 3.6 bn Gross debt Debt extension (▲ 1 year) Reduction in gross debt Debt reduction (▼ 40%) and reduction and average cost (▼ 28%) and in the average extension (▲ 2 years) (▼ 22% ) reduction (▼
Slide 16: Liability Management Strategy
03 LIABILITY MANAGEMENT STRATEGY Amortization Schedule1 (in R$ billion) Schedule 06.30.2025 4.3 Schedule after Liability Management2 4 years without principal amortization 3.0 ▼0.4 ▼0.4 ▼0.4 1.1 1.0 1.0 0.7 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0 0 0 0 0 0 0 0 Liquidity 2025 2026 2027 2028 2029 2030 2031
Slide 17: Dividends
04 DIVIDENDS
Slide 18: Payment of R$ 2.3 bn in IOC (Net)
04 PAYMENT OF R$ 2.3 BN IN IOC (NET) R$ 553 Shareholder Payment on Position on 06.16.2025 million R$ 0.050/share 06.20.2025 EM 11.08.2025 08.29.2025 R$ 1,737 Shareholder Payment on million Position on 08.11.2025 R$ 0.158/share 08.18.2025 08.29.2025
Slide 19: Declaration of R$ 2.7 bn of Dividends in 1H25 (Net)
04 DECLARATION OF R$ 2.7 BN OF DIVIDENDS IN 1H25 (NET) 68% 36% 62% 27% 6 Among the highest 31% 9.8% 10.8% 10% 10% dividend yields on B3 8.4% 31% 13,500 10% 9% 6.8% 9,597 6,000 8.6% 9% 11,500 9% 7,994 9% (R$ 0.88/share)1 5,000 9% Capital 9,500 20% 8% (R$ 0.78/share)¹ 8% 7,500 1,000 Increase 4,0008% 4
Slide 20: Final Remarks
05 —_——_] FINAL REMARKS
Slide 21: Final Remarks 1H25
05 FINAL REMARKS 1H25 Performance of Successful liability Growth of Robust balance ITSA4 shares management dividends, payout, sheet and Record outperform strategy and attractive Results benchmarks dividend yield PORTFOLIO WITH CONSISTENT RESULTS Sustainable growth Wood Division highlighted Operation
Slide 22: Q&A Session
06 —_——_] Q&A SESSION
Slide 23: Alfredo Setubal, Priscila Grecco
ALFREDO SETUBAL CEO and IR Officer PRISCILA GRECCO CFO Scan the QR code beside and share INVESTOR RELATIONS your opinion about +55 (11) 3543-4177 our earnings live ri@itausa.com.br
Slide 24: Itaúsa Panorama 2025
SAVE THE DATE Itaúsa Panorama 2025 SEPTEMBER 30 | 10 A.M. (BRT)