Intercorp Financial Services Inc. · NYSE:IFS
Intercorp Financial Services — Q2 2025 Earnings Presentation
55 slides from Intercorp Financial Services's earnings presentation, Aug 12, 2025
Slide 1: IFS 2Q25 earnings presentation
by) ’ spresentation _ Na,
Slide 2: Strong business trends, boosted by investment results
Strong business trends, boosted by investment results Ss/ 580mn w21 Net profit 225 ROE IFS 2Q25 Solid results in wealth management and insurance 5.3x YoY otherincome WM 7% YoY written premiums
Slide 3: Strong business trends, boosted by investment results
_ trends, boosted by 1 Strong business investment results —_
Slide 4: Positive trend in macro indicators
Positive trend in macro indicators Quarterly GDP growth YoY (%) 4.2% 3.6% 3.8% T 9 2Q24 3Q24 4Q24 1925 2Q25E PEN / USD 3.77 3.55 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25, Source: Central Bank, MEF, INE| and SBS 1) 2Q25E intemalestimate GDP for Apr25-May25is2.0% Interest rates (%) 5.75 5.50 475 5.00 4.50
Slide 5: Improvement in most key leading indicators
Improvement in most key leading indicators Formal employment & formal wages YoY (%) 10.9 10.2 a 76 17 6.0 3.9 51 56 = = = Jun24 Sep24 Dec24 Mar25, Apr25 {@ Formalemployment «Formal wage Consumer confidence index & business confidence (%) 59 59 56 58 57 ny 40 4 42 Jun24 Sep24 Dec24 Mar25 Jun25, -e Co
Slide 6: YoY earnings drive quarterly ROE to >20%
+2.0x YoY earnings drive quarterly ROE to >20« IFS quarterly net profit (S/ mn) ROE 11.2% 16.3% 20.7% 580 446 5 7 2Q24 1Q25 2Q25 +30% QoQ | +2.0x YoY ROE 1.1% 2Q24 15.5% 1Q25 ROE 58.5% 58.3% 92 | 2Q24 1925 Wealth management ROE 2.7% 14.2% 37 6 a 2Q25 +1.5x yoy -4% QoQ +3% Yor -12% QoQ ~20x Yor +3.1x
Slide 7: Continuous positive quarterly trends
Continuous positive quarterly trends 20.7% 14.9% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 ginterbank Binterseguro Inteligo @ROE IFS () 2425 holding results $/ 55.6milions -
Slide 8: NIM and revenues
+19> % NIMIBK 5.2% 5.2% 5.1% YoY increase 1,249 1314 1300 +4 Yoy -1% QoQ in revenues = = [J IFS (S/mn) NIMIFS 5.5% 5.1% 4.9% 400 B26 472 +185, yoy -10% QoQ 1,758 2Q24 1Q25 2Q25 Wealth management 179 +3. 35 3.8x Yor a7 +2.1x QoQ +6% QoQ | +19% YoY 2@24 1925 2Q25
Slide 9: Continuous investments in IT. Efficiency remains a top priority
Continuous investments in IT. Efficiency remains a top priority IFS expenses (S/ mn) Banking expenses (S/ mn) cj 39.7% 38.8% 42.3% cil 38.6% 35.4% 35.9% 515 522 564 2Q24 1Q25 2Q25 +8% QoQ | +10% YoY Banking expenses breakdown (S/ mn) YoY +9% +8% +8% +8% 2Q24 1Q25 2Q25 +7% QoQ | +10% YoY Technology P
Slide 10: Commercial & payments ecosystem growing, consumer loans slowly recovering
_— Commercial & payments ecosystem growing, consumer loans slowly recovering —_
Slide 11: Slight recovery of our credit cards and personal loans portfolio
Slight recovery of our credit cards and personal loans portfolio Credit cards and personal loans (S/ bn) (QoQ trend) Var QoQ Ea G7 Credit cards FA turnover 2Q24 3Q24 4Q24 1Q25 Retail COR 7.2% 5.3% 4.9% 4.1%
Slide 12: Consumer loans, mortgages and commercial loans
45,5 46% 32% 2Q24 Consumer loan: 47,0 48% 30% 1Q25 Mortgages 48,2 49% 29% 2Q25 Commercial
Slide 13: Merchants
Merchants +1.7 YoY IzipayYa volume +20. YoY Small leposits Businesses +20 YoY Sales Finance loans 39x IBK share of Izipay flows
Slide 14: Low cost of risk, stable NIM
_ 3 Low cost of risk, stable NIM
Slide 15: Cost of risk remains at low levels
Cost of risk remains at low levels Cost of risk (%) 7.2% 4.0% 41% 4.2% 2.8% 2.5% 1.3% 0.6% 0.1% 2Q24 1Q25 2Q25 eBanking Retail Commercial NPL coverage ratio (%) 167% 171% 164% 131% 142% 141% 90% a ~ A ll l lf 2Q24 1Q25 2Q25 mBanking Retail gy Comercial Total NPLs trend - Stage 3 3.9% 3.5% 3.2% 3.3%
Slide 16: bps QoQ improvement in risk-adjusted NIM in banking
bps QoQ improvement in risk-adjusted NIM +1 O in banking Interest-earning assets (S/bn) Yield on assets evolution (%) YoY 70.3 73.0 745 +6.0% 10.6% —— 13% 17% 16% - +26.7% 9.9% 9.9% 18% 16% 16% -2.4% 84% 5.2% 5.2% 5.1% +8.8% 3.3% 3.4% 37% 35% 35% +0.2% 2.6% 2Q24 1Q25 2Q25 2Q24 1Q25 2Q25 Cash and due
Slide 17: Positive trend in funding mix
Positive trend in funding mix
Slide 18: -60 bps YoY cost of deposits
-6 O bps YoY cost of deposits Funding breakdown (S/ bn) Cost of funds and deposits (%) LDR 99% 97% 96% +7.4% Ref. rate YoY YoY deposit -125 bps (S/) growth -100 bps (USD) os 63.0 64.7 3.6% 3.2% 3.2% 3.2% 79% 80% 2.6% 2.6% 2Q24 1Q25 2Q25 2Q24 1Q25 2Q25 -*-Cost of funds -#Cost of deposits a, Retail de
Slide 19: Improvement in funding mix
Improvement in funding mix Low-cost funding (%) © Low-cost funding (S/bn) YoY 34% 22.1 12% 19.7 32% = osx 6.3 6.7 +7% 2Q24 2Q25 2Q24 2Q25 w Retail Commercial gg Institutional gg Other 1) Low cost funding as a %of total funding. Low-cost funding includes retail deposits (excluding term deposits) and
Slide 20: Strengthening primary banking relationships
_— -e Strengthening primary banking relationships —_
Slide 21: MS inflows and MS retail payroll deposits
~14>, ce 015% MS inflows MS retail payroll deposits
Slide 22: Interbank app
Interbank ves: Todo lo que necesitas, en un solo App DNI ~
Slide 23: Solid results in wealth management and insurance
_— 6 Solid results in wealth management and insurance —_
Slide 24: Solid growth in core business
Solid growth in core business Assets under management +14» Yor (US$ bn) +3% QoQ 75 78 6.8 49 5.1 5.2 2024 1925 2Q25 i Inteligo Bank = Interfondos MSIF % 16.7% 16.4% 16.1% 1) Includes feeincome& results from financial transactions Other income evolution® 5.3X yoy (S/ mn) +2.4xQ0Q 161 68 —_ as 2Q24 19
Slide 25: Increasing digital adoption in wealth management
Increasing digital adoption in wealth management Interfondos digital transactions Interfondos digital users (% of digital transactions) (% of total Interfondos customers) 29% 2Q24 2Q25 Jun24 Jun25,
Slide 26: +17% YoY in long-term insurance
+17 YoY in long-term insurance Long- term insurance (S/mn) +17% vov Short-term insurance (S/mn) +1.1x Yoy (CSM stock by business unit) '0 Yo (Insurance PAA net premiums) 4% @Q0Q +5% QoQ 123 122 ° 1,005 58 956 861 2Q24 1Q25 2Q25 534 Results from investments (S/mn) +2% voy ROL 6.4% 6.2% 6.1% See) = 22
Slide 27: Increasing digital adoption in insurance
Increasing digital adoption in insurance Digital self-service (% of digital self-service)
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Slide 29: Focus on growth
Focus on growth Mortgage loans (S/ bn) ( ans ( Long-term [s] Insurance (2) +17 ‘oY CSM stock Commercial loans®) (S/ bn) O) Small businesses FA WM AUMs e) +42« +20, +14x YoY Deposits Ver ——
Slide 30: Operating trends
Operating trends 1H: 2025 Profitability Continued path to recovery IFS ROE 18.4% Revenues Slight recovery NIM IBK NIM 5.1%
Slide 31: Sustainability update
Sustainability update Environmental Social Great Place To Work 2025) +uso4-O1Imn =] = >1,2m Sustainable loans 33 Financial stores obtained iREC certificates for Governance renewable energy use Equator 100~ Principles Report Wegssvanu @ of agricultural banking Publication executives were trained on c
Slide 32: Strong YoY recovery. 2Q boosted by investment results
Strong YoY recovery. 2Q boosted by investment results Solid results in wealth management and insurance
Slide 33: Appendix
is ppendix
Slide 34: IFS Key indicators
IFS Key indicators 2Q25 ROE 11.2% 16.3% 2Q24 1Q25 /~ IFS ROA C/l ratio 1.2% 1.9% 38.6% 35.4% 2Q24 1Q25 2Q24 1Q25 2.4% 2Q25
Slide 35: IFS Key indicators
IFS Key indicators 2Q25 Insurance ROIP 6.4% 6.2% 2Q24 1Q25 6.1% 2Q25 Banking NIM 5.2% 5.2% 2Q24 1Q25 5.1% 2Q25 C/l ratio 39.7% 38.8% 2Q24 1Q25 42.3% 2Q25 CoR 4.0% 2.8% 2Q24 1Q25 2.5% 2Q25 Wealth management AUM (USS bn) 6.8 7.5 2Q24 1925 7.8 2Q25 Fees, net (S/ mn) 42.4 47.0 2Q24 1Q25 46.0 2Q25
Slide 36: YoY earnings drive 6M ROE
+2.4, YoY earnings drive quarterly ROE to >18« IFS quarterly net profit (S/ mn) ROE 8.4% 18.4% 1,026 427 6M24 6M25 +2.4. YoY ROE 9.1% 15.8% 671 + 361 86x Yor 6M24 6M25 ROE 23.3% 64.1% 173 = oy “ee _ 6M24 6M25 Wealth management ROE 6.9% 31.1% 154 +4.8x YoY 32 6M24 6M25
Slide 37: Revenues
+ 1 As, or _ 5.3% 5.1% in revenues = “insurance IFS (S/mn) _ . . | a +15 Yoy 4,062 a 3,490 6M24 6M25 14 +2.3x Yoy +16% Yoy 6M24 6M25
Slide 38: Banking
ae Pe
Slide 39: Insurance
Insurance customers (mn) Jun25
Slide 40: Continuous improvement in payment behavior of customers
Continuous improvement in payment behavior of customers Payment behavior Consumer loans" (S/bn) % Exposure by rescheduling type Payment of rescheduled loans(?) % QoQ 8.9 1 Collected Not paid % YoY 8.5% 7.8% °-6 8.9 Mar25 Jun25 18 12 91.5% 92.2% Mar25, Jun25 Collected i Not paid f I f @:) 98.2% 98.6%
Slide 41: 4.5% 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 100 0.5% 0 0.0%
600 4.5% 4.0% 500 3.5% 400 3.0% 2.5% 300 2.0% 200 1.5% 1.0% 100 0.5% 0 0.0%
Slide 42: Sound capitalization levels
Sound capitalization levels surance TCR CETI ratio 127.2% 135.9% 130.3% Banking - 100% System 15.9% 15.9% 17.6%") Reg. min. 2924 1925 2Q25 om t2% «16% 1.7% -2% 16.9% 15.0% ” Wealth management 117% - - $8% 16.6% 19.3% 19.2% - ~ Reg. min. | : “ Reg. min. 2924 1925 2Q25 2924 1905 2925 nan 1008 1008 Sou
Slide 43: Manageable dollarization levels at Interbank
Manageable dollarization levels at Interbank Total loans Retail loans Commercial loans % PEN System @ 1 i) s S B 7 - 2019 2025 2019 2025 2019 2025 60% Retail loans breakdown Commercial loans breakdown Consumer Mortgages Corporate Medium Small & Micro 2 g Fo} 2 2019 2025 2019 2025 2019 2025 2019 2025
Slide 44: Includes institutional and others Based on SBS figures
1) Includes institutional and others 2) Based on SBS figures
Slide 45: IFS P&L 2Q25
IFS P&L 2Q25 Intercorp Financial Services P&L statement J million sechg sechg 2024 1025 2025 @0@ YoY Interest and similar income 17374 17296 1718.2 08% 13% Interest and similar expense 6233 5707 -578.6 14% 7.2% Net interest and similar income 13.8 1158.9 1136.6 2.0% Impairment loss on loans, net of
Slide 46: IFS statement of financial position 2Q25
IFS statement of financial position 2Q25 $/ milion %chg séchg 2024 1025 2025 @0@ Yor Assets Cash and due from banks and inter-bank funds 104134 13,2499 13,1744 0.6% 265% Financial investments 27,7606 268107 27,7474 3.5% 0.0% Loans, net of unearned interest 50,0693 510398 = 5,127.2 21% 41% Impairment
Slide 47: Banking P&L 2Q25
Banking P&L 2Q25 $/ milion 9%chg séchg 2024 1025 2025 @0@ YoY Interest and similar income 14844 14822-14505 0.6% “2.3% Interest and similar expense 5594 4979 -5109 2.6% “8.7% Net interest and similar income 925.0 9443 939.6 0.5% 1.0% Impairment loss on loans, net of recoveries 4740 3428 3085 100% =
Slide 48: Banking statement of financial position 2Q25
Banking statement of financial position 2Q25 Banking Segment’ Statement of {million séehg séchg 2024 1025 2025 @0@ Yor Assets Cash and due from banks and inter-bank funds 9/8742 121210148782 -2.0% 26.1% Financialinvestments, 12,3791 4568 ~— 12,0871 55% -2.4% Loans, net of unearned interest 48,5200 4
Slide 49: Insurance P&L 2Q25
Insurance P&L 2Q25 $/ million %%chg %6chg 2024 1025 2025 0a Yor Interest and similar income 2059 258.2 2210 14.4% 73% Interest and similar expenses 364 49.5 “44 40.8% 212% Net Interest and similar income 169.5 208.7 176.8 15.3% 43% Recovery (loss) due to impairment of financial investments 61 59.0 0
Slide 50: Insurance statement of financial position 2Q25
Insurance statement of financial position 2Q25 Insurance Segment’ Statement of financial position $/ milion %chg 6chg 2Q24 1Q25 2Q25 Q0Q YoY Assets Cash and due from banks and inter-bank funds 403.5 442.2 480.6 8.7% 19.1% Financialinvestments 3,122.9 13,5514 13,840.0 2.1% 5.5% Property, furiture and
Slide 51: Wealth Management P&L 2Q25
Wealth Management P&L 2Q25 S/milion %echg %%chg 2Q24 1Q25 2Q25 Q0Q YoY Interest and similar income 443, 40.6 431 63% ~2.6% Interest and similar expenses 27.2 -23.8 -253 6.1% Net interest and similar income oral 16.7 78 6.5% 45% Impairment loss on loans, net of recoveries. 03 02 02 nm. nm, Recovery (
Slide 52: Wealth Management statement of financial position 2Q25
Wealth Management statement of financial position 2Q25 Wealth Management Segment’ Statement of financ! {million séehg séchg 2024 1025 2025 @0@ Yor Assets Cash and due from banks and inter-bank funds 509.2 533.6 6188 15.9% 215% Financialinvestments, 2,084.5 1986.4 2,018.6 16% “3.2% Loans, net of unea
Slide 53: Definitions of ratios and terms
Net interest and similar income + Net fee income from financial services + Other income Total revenues + Income from insurance results (Salaries and employee benefits + Administrative expenses + Depreciation and amortization) / (Net interest and similar income + Net Efficiency ratio fee income + Oth
Slide 54: Safe Harbor for Forward-Looking Statements
Safe Harbor for Forward-Looking Statements This corporate presentation contains “forward looking statements’ within the meaning of the Private Securities Litigation Reform Act of 1955. Other than statements of historical or current facts, all statements included in this presentation regarding IFS’ b
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