Itaúsa (ITSA4) Investor presentation summary

Strategic positioning and portfolio

• Largest investment holding in Brazil, with R$145 billion market value and a diversified portfolio of seven leading companies across key sectors, including finance, infrastructure, energy, and consumer goods.

• Active in capital markets, with high liquidity and a broad shareholder base exceeding 900,000, present in 93% of Brazilian municipalities.

• Investment philosophy centers on disciplined capital allocation, long-term value creation, and active governance in investees.

• Portfolio companies include major stakes in Itaú, Dexco, Alpargatas, Motiva, Aegea, Copa Energia, and NTS, each with strong market positions.

• Recognized for sustainability leadership, included in major indices such as DJSI, CDP, and ISEB3.

Financial performance and returns

• 1Q26 recurring net income reached R$4.5 billion, up 17% year-over-year, with a recurring ROE of 20.1%.

• Portfolio market value at R$194.5 billion as of March 2026, with ITSA4 market value at R$156.7 billion.

• TSR for ITSA4 outperformed benchmarks: 32% in 12 months vs. 25% for IBOV, and 130.5% over five years.

• Dividend payout is robust, with a 14.7% yield in Dec 2025 and a history of increasing dividends and bonus shares.

• Net debt stands at R$1.0 billion, with a conservative leverage profile and AAA rating.

Investment and capital allocation

• R$11 billion invested over the last decade, targeting sectors critical to Brazil’s development.

• Recent investments include Motiva (R$2.9bn), Aegea (R$3.0bn), Copa Energia (R$1.2bn), and Alpargatas (R$2.7bn).

• Assertive capital allocation has driven strong TSR in investees: NTS (460%), Copa Energia (224%), and Aegea (93%) since acquisition.

• Active management includes continuous monitoring, value creation initiatives, and regular engagement with investees.

• Portfolio optimization through divestitures and focus on assets with sustainable value and market leadership.