Itaú Unibanco (ITUB4) investor relations material

Executive summary

• Recurring managerial result was BRL 12.617bn in Q3 2026; reported growth was 1.7% QoQ and 6.2% YoY, or 2.5% and 6.7% excluding Colombia retail-sale effects.

• Consolidated recurring ROE was 23.6%; results reflected disciplined credit origination, portfolio quality and continued technology investment.

Financial highlights

• Operating revenues reached BRL 49.2bn, up 2.4% QoQ and 5.5% YoY; managerial financial margin was BRL 34.6bn, up 3.4% and 7.8%, respectively.

• Financial margin with clients was BRL 33.3bn, up 2.6% QoQ; cost of credit was BRL 10.4bn, or 2.7% annualized.

• Non-interest expenses totaled BRL 17.1bn, up 2.4% QoQ, partly reflecting a 4.6% wage adjustment; fee income rose 0.5% QoQ, including gains in asset management and card issuance.

• 9M26 recurring managerial result was BRL 37.3bn, up 8.1% YoY.

Outlook and guidance

• 2026 guidance was maintained for total credit growth of 5.5%–9.5%, Brazil growth of 6.5%–10.5%, client financial margin growth of 5%–9%, market margin of BRL 2.5bn–BRL 5.5bn and cost of credit of BRL 38.5bn–BRL 43.5bn.

• Fee and insurance growth guidance remained 2%–5%; non-interest expense growth guidance remained 1.5%–5.5%.

• Effective tax-rate guidance was revised to 28%–29% from 29.5%–32.5%; other 2026 guidance was unchanged.

• 2027 outlook was uncertain amid slower activity, restrictive rates, household indebtedness and potential labor-market pressure; no specific 2027 portfolio or ROE guidance was given.