Itaúsa (ITSA4) AGM 2024 summary

Opening remarks and agenda

• Event opened with a focus on transparency, governance, and a comprehensive agenda covering financial results, governance, strategy, and sectoral panels with CEOs from key portfolio companies.

Financial performance review

• Reported Q3 2024 revenue of BRL 3.9 billion, up 13.3% year-over-year, with net assets at BRL 86.5 billion and net debt at BRL 0.9 billion.

• Portfolio market value at end of September 2024 was BRL 142 billion, with strong performance from investment companies, especially Itaú Unibanco.

• Non-listed assets like NTS, Copa Energia, and Aegea delivered high returns, with NTS achieving a 403% TSR and Copa Energia 155%.

• Itaúsa’s 10-year TSR reached 273%, outperforming benchmarks.

Board and executive committee updates

• Board composition now 50% independent, with all committees chaired by independents; audit and risk committee is fully independent and statutory.

• Monthly board meetings and first-time individual board member evaluations implemented to enhance governance.

• Leadership transition at Dexco planned for March 2025, ensuring continuity and new perspectives.