ITAÚ UNIBANCO MATERIAL FACT: PROJECTIONS

06.11.23 23:59 Uhr Importer

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Itau Unibanco Holding SA Pfd Shs (spons. ADRs)

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SAO PAULO, Nov. 6, 2023 /PRNewswire/ -- Itaú Unibanco Holding S.A. ("Itaú Unibanco" or "Company"), in compliance with the provisions in Article 157, paragraph 4 of Law No. 6,404/76 and in Resolution No. 44/21 of the Brazilian Securities and Exchange Commission (CVM), informs its stockholders and the market in general that it released as of this date its updated projections for fiscal year 2023, due to the sale of the operations of Banco Itaú Argentina S.A., in accordance with item 3 ("Projections") of the Reference Form. Excluding the impacts of the sale of the operations in Argentina from the projections, we reaffirm the guidance previously disclosed.

Guidance 2023	Guidance	Itaú Argentina impact⁴	normalized guidance
total credit portfolio¹	growth between 6.0% and 9.0%	0.35 p.p	growth between 5.7% and 8.7%
financial margin with clients	growth between 13.5% and 16.5%	0.97 p.p.	growth between 12.5% and 15.5%
financial margin with the market	between R$2.0 bn and R$4.0 bn	R$0.40 bn	between R$1.6 bn and R$3.6 bn
cost of credit²	between R$36.5 bn and R$40.5 bn	R$0.01 bn	between R$36.5 bn and R$40.5 bn
commissions and fees and results from insurance operations³	growth between 5.0% and 7.0%	0.35 p.p.	growth between 4.7% and 6.7%
non interest expenses	growth between 5.0% and 9.0%	0.96 p.p	growth between 4.0% and 8.0%	consolidated efficiency ratio below 40% and below 38% in Brazil
effective tax rate	between 27.0% and 29.0%	0.31 p.p	between 26.7% and 28.7%
(1) Includes financial guarantees provided and corporate securities; (2) Composed of result from loan losses, impairment and discounts granted; (3) commissions and fees (+) income from insurance, pension plan and premium bonds operations (-) expenses for claims (-) insurance, pension plan and premium bonds selling expenses. (4) Forecast of the results between August and December 2023 and the credit portfolio of 12/31/2023 of Banco Itaú Argentina S.A..

It is worth mentioning that the Company considers, for business management purposes, a cost of capital of approximately 14.25% p.y.

Information on outlooks for the business, projections and operational and financial goals are solely forecasts, based on management's current outlook in relation to the future of Itaú Unibanco. These expectations are highly dependent on market conditions, general economic performance of the country, of the sector and the international markets. Therefore, our effective results and performance may differ from those forecasted in this prospective information.

Renato Lulia Jacob

Group Head of Investor Relations and Market Intelligence

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