Banco Itaú (ITAUCL) investor relations material

Executive summary

• Achieved solid loan and deposit growth in Chile despite a challenging macroeconomic environment, though results were pressured by lower operating income, market volatility, and a high comparison base in fees and commissions.

• S&P upgraded the credit rating to A-, reflecting improved credit quality and diversified funding through inaugural MTN and USCP issuances.

• Approved a historic 60% dividend payout from 2025 profits, demonstrating strong capital position and shareholder commitment.

• Recognized as the best place to work in Chile, with high employee engagement and continued ESG leadership.

• Consolidated assets reached MCh$48,794,897 as of March 31, 2026, with equity of MCh$4,336,629 and net income for the quarter of MCh$69,220, down from MCh$110,759 year-over-year.

Financial highlights

• Consolidated loan portfolio grew 8.9% year-over-year; Chilean portfolio up 7.3% year-over-year.

• Net interest income for Q1 2026 was MCh$268,196, down from MCh$293,022 in Q1 2025.

• Net fee and commission income rose to MCh$53,718 from MCh$48,118 year-over-year; commissions and fees rose 2.9% year-over-year.

• Recurring net income was CLP 76.7 billion, down 29.6% year-over-year; consolidated ROE at 8.0%.

• Cost of credit stable year-over-year; non-interest expenses up just 0.6% year-over-year, below inflation.

Outlook and guidance

• Loan growth guidance for 2026 maintained at 6%-8%, with recovery expected in the second half.

• Financial margin with clients projected at 3.3%-3.5% by year-end.

• Cost of credit guidance narrowed to 1.0%-1.1% due to improved asset quality.

• Non-interest expense growth revised to around 2%-3%; effective tax rate guidance lowered to 15%-18%.

• Commissions and fees guidance revised to 12%-14%; ROTE guidance adjusted to 12%-13%.