Itaú Unibanco (ITUB4) investor relations material

Executive summary

• Recurring managerial result reached R$12.3 billion in 1Q26, up 10.4% year-over-year, with ROE at 24.8% and efficiency ratio at 34.9% in Brazil.

• Credit portfolio grew 9% year-over-year to R$1.48 trillion, with Brazil up 7.8% and Latin America up 4.2%.

• Financial margin with clients increased 4.5% year-over-year, supported by portfolio growth and improved product mix.

• Commissions, fees, and insurance revenues rose 5.3% year-over-year, with insurance up 17%.

• Non-interest expenses increased 4.8% year-over-year, but efficiency improved to a record low in Brazil.

Financial highlights

• Operating revenues were R$46.8 billion, up 4.5% year-over-year.

• Managerial financial margin reached R$32.3 billion, up 4.0% year-over-year.

• Cost of credit was R$10.0 billion, up 4.5% year-over-year, with a stable cost over portfolio ratio at 2.7%.

• Commissions and fees reached R$11.0 billion, up 2.4% year-over-year.

• Market capitalization rose 49.3% year-over-year to R$475.7 billion.

Outlook and guidance

• 2026 guidance unchanged: total credit portfolio growth between 5.5% and 9.5%, Brazil portfolio 6.5% to 10.5%.

• Financial margin with clients expected to grow 5.0% to 9.0%.

• Cost of credit projected between R$38.5 billion and R$43.5 billion.

• Non-interest expenses to grow 1.5% to 5.5%.

• Management remains comfortable with guidance despite macroeconomic headwinds.