EX-99.1 2 d728624dex991.htm EX-99.1

Exhibit 99.1 ITAÚ UNIBANCO HOLDING S.A. CNPJ. 60.872.504/0001-23 Public Company NIRE 35300010230 Announcement to the Market Itaú Unibanco Holding S.A (“Company”) informs that will make a presentation for investors and shareholders today at the 14th Annual Itaú BBA Conference, in New York. The content of the presentation, including Company's expectations, is based on the information available up to the event and mentioned expectations involves risks, uncertainties and assumptions that may be beyond our control. Please find attached the presentation slides. The public provision of these information reinforces our commitment to transparency in our disclosures to the various strategic stakeholders. São Paulo-SP, May 16, 2019. ALEXSANDRO BROEDEL Group Executive Finance Director and Head of Investor Relations Exhibit 99.1 ITAÚ UNIBANCO HOLDING S.A. CNPJ. 60.872.504/0001-23 Public Company NIRE 35300010230 Announcement to the Market Itaú Unibanco Holding S.A (“Company”) informs that will make a presentation for investors and shareholders today at the 14th Annual Itaú BBA Conference, in New York. The content of the presentation, including Company's expectations, is based on the information available up to the event and mentioned expectations involves risks, uncertainties and assumptions that may be beyond our control. Please find attached the presentation slides. The public provision of these information reinforces our commitment to transparency in our disclosures to the various strategic stakeholders. São Paulo-SP, May 16, 2019. ALEXSANDRO BROEDEL Group Executive Finance Director and Head of Investor Relations

Digital strategy Candido Bracher | President and CEO Ricardo Guerra | CIO Itaú Unibanco | May 2019Digital strategy Candido Bracher | President and CEO Ricardo Guerra | CIO Itaú Unibanco | May 2019

Does not want Customer needs to waste time in traffic MOBILITY Wants access to nice and easy LEISURE entertainment Customers expectations Needs to communicate with his/her network COMMUNICATION have changed. anytime, anywhere They demand high-quality Seeks to have new experiences and convenience TRAVEL experiences rather than while traveling just products and services. FULL SERVICE MUSIC CONSUMING Seeks intelligent and Wants to listen to Wants as many product integrated solutions their favorite albuns options as possible to (super apps) to make anytime, anywhere choose from when everyday life easier necessaryDoes not want Customer needs to waste time in traffic MOBILITY Wants access to nice and easy LEISURE entertainment Customers expectations Needs to communicate with his/her network COMMUNICATION have changed. anytime, anywhere They demand high-quality Seeks to have new experiences and convenience TRAVEL experiences rather than while traveling just products and services. FULL SERVICE MUSIC CONSUMING Seeks intelligent and Wants to listen to Wants as many product integrated solutions their favorite albuns options as possible to (super apps) to make anytime, anywhere choose from when everyday life easier necessary

The game changer: technology Solving real customer needs through tech. BIOMETRICS BIG DATA ANALYTICS AI/ML CHATBOTS SMARTPHONE WEARABLES CLOUD BLOCKCHAIN SOCIAL MEDIAThe game changer: technology Solving real customer needs through tech. BIOMETRICS BIG DATA ANALYTICS AI/ML CHATBOTS SMARTPHONE WEARABLES CLOUD BLOCKCHAIN SOCIAL MEDIA

Customer ownership is the new rule Respect customer privacy Continuously listen to customers and follow up to get their feedback Motivate employees to stay engaged Act proactively to anticipate needs Adapt to customer demands and circumstances in real time Build customer empathy into processes and policies What really matters is to have the customer in the Act systematically to improve customer center of everything we do experienceCustomer ownership is the new rule Respect customer privacy Continuously listen to customers and follow up to get their feedback Motivate employees to stay engaged Act proactively to anticipate needs Adapt to customer demands and circumstances in real time Build customer empathy into processes and policies What really matters is to have the customer in the Act systematically to improve customer center of everything we do experience

How to achieve customer ownership? Innovators Incumbents X Challenge: change Challenge: scale “Incumbents must find innovation before innovators find distribution” How to achieve customer ownership? Innovators Incumbents X Challenge: change Challenge: scale “Incumbents must find innovation before innovators find distribution”

What is Itaú Unibanco doing to achieve customer ownership? Bulding digital capabilities on top of major strenghts. Leverage Develop + The capability to Lots of data continuously transform Large customer base A full range of products + speed to extend our digital offer value proposition and services addressing deep knowledge of customer real customer needsWhat is Itaú Unibanco doing to achieve customer ownership? Bulding digital capabilities on top of major strenghts. Leverage Develop + The capability to Lots of data continuously transform Large customer base A full range of products + speed to extend our digital offer value proposition and services addressing deep knowledge of customer real customer needs

What is Itaú Unibanco doing to achieve customer ownership? + speed to extend our digital offer value proposition addressing deep knowledge of customer real customer needs Itaú Unibanco | Maio 2019What is Itaú Unibanco doing to achieve customer ownership? + speed to extend our digital offer value proposition addressing deep knowledge of customer real customer needs Itaú Unibanco | Maio 2019

What is Itaú Unibanco doing to achieve customer ownership? + speed to extend our digital offer value proposition addressing deep knowledge of customer real customer needs Itaú Unibanco | Maio 2019What is Itaú Unibanco doing to achieve customer ownership? + speed to extend our digital offer value proposition addressing deep knowledge of customer real customer needs Itaú Unibanco | Maio 2019

Speed to extend our digital offer (10x) 10x 2x CI/CD Methodologies Processes Business + tech Test automation Delivery integration using AI Cloud Technologies Communities (digital channels) Legacy modernization Business + tech Analytics Cubo Agile and integration (all Delivery Ops (innovation design Communities) ecosystem) thinking 2010 2018Speed to extend our digital offer (10x) 10x 2x CI/CD Methodologies Processes Business + tech Test automation Delivery integration using AI Cloud Technologies Communities (digital channels) Legacy modernization Business + tech Analytics Cubo Agile and integration (all Delivery Ops (innovation design Communities) ecosystem) thinking 2010 2018

Working model | Digital-oriented organization Customer centricity means managing the organization in a new way. DELIVERY COMMUNITIES Moving from command and control to autonomy TRADITIONAL MODERN User Experience Technology Project management Continuous evolution of Product and execution our digital solutions BUSINESS + TECHNOLOGY PLATFORMS IN CONTINUOUS EVOLUTION Delivery communities Team People move with Stable teams working are ruled by organization each new project in collaboration agile and lean principles. Value Months/years Weeks capture Customer After solution Constant iterations and Business Busines Business Business involvement is reached continuous feedback obj. 1 s obj. 2 obj. 3 obj. 4 Data Working Waterfall Agile, lean and science Operations method design thinking Itaú Unibanco | May 2019Working model | Digital-oriented organization Customer centricity means managing the organization in a new way. DELIVERY COMMUNITIES Moving from command and control to autonomy TRADITIONAL MODERN User Experience Technology Project management Continuous evolution of Product and execution our digital solutions BUSINESS + TECHNOLOGY PLATFORMS IN CONTINUOUS EVOLUTION Delivery communities Team People move with Stable teams working are ruled by organization each new project in collaboration agile and lean principles. Value Months/years Weeks capture Customer After solution Constant iterations and Business Busines Business Business involvement is reached continuous feedback obj. 1 s obj. 2 obj. 3 obj. 4 Data Working Waterfall Agile, lean and science Operations method design thinking Itaú Unibanco | May 2019

Technology platform | Legacy modernization Microservices advantages: Benefits of • Scalability and flexibility • More frequent deliveries • Availability modernization • Time-to-money reduction Batch processing architecture Event-driven • Cost and lock-in reduction ONLINE SYSTEMS BATCH SYSTEMS • Digital, customer-centric technology Managerial • Operational risk reduction Managerial • Enabling open banking Accounting Accounting We are also employing • Payments Receivables external platforms to • Credit card Receivables • Current account speed up the delivery of news solutions Data Lake (products and services) Data Lake Itaú Unibanco | May 2019Technology platform | Legacy modernization Microservices advantages: Benefits of • Scalability and flexibility • More frequent deliveries • Availability modernization • Time-to-money reduction Batch processing architecture Event-driven • Cost and lock-in reduction ONLINE SYSTEMS BATCH SYSTEMS • Digital, customer-centric technology Managerial • Operational risk reduction Managerial • Enabling open banking Accounting Accounting We are also employing • Payments Receivables external platforms to • Credit card Receivables • Current account speed up the delivery of news solutions Data Lake (products and services) Data Lake Itaú Unibanco | May 2019

Technology platform | Cloud Technology tools that support our working model. Cloud Why is cloud computing important to us? more 8x • Time-to-money reduction solutions • Application modernization in cloud • Cost efficiency • Operational risk reduction 2017 2018 • Access to public cloud tools 2018 2019 Until 2021 Cloud computing expected to be used in the 50% of financial benefit 70% of projects have cloud solutions. main interfaces with customers. projects At least one public cloud Multi-cloud in at least 3 providers. used cloud solutions. provider used. Access to tools that add value for customers Itaú Unibanco | May 2019Technology platform | Cloud Technology tools that support our working model. Cloud Why is cloud computing important to us? more 8x • Time-to-money reduction solutions • Application modernization in cloud • Cost efficiency • Operational risk reduction 2017 2018 • Access to public cloud tools 2018 2019 Until 2021 Cloud computing expected to be used in the 50% of financial benefit 70% of projects have cloud solutions. main interfaces with customers. projects At least one public cloud Multi-cloud in at least 3 providers. used cloud solutions. provider used. Access to tools that add value for customers Itaú Unibanco | May 2019

Technology platform | DevOps and SRE Accelerate integration, continuous deployment and software delivery. DevOps and SRE Waterfall Design Code Test Deploy DevOps CI/CD Waterfall Incorporate Agile practices to shorten the development life Code Test Code Test Code Test Deploy Design cycle while delivering IT Developers features, fixes CI/CD Operations Agile and updates DevOps SRE Design CI/CD DevSecOps Itaú Unibanco | May 2019Technology platform | DevOps and SRE Accelerate integration, continuous deployment and software delivery. DevOps and SRE Waterfall Design Code Test Deploy DevOps CI/CD Waterfall Incorporate Agile practices to shorten the development life Code Test Code Test Code Test Deploy Design cycle while delivering IT Developers features, fixes CI/CD Operations Agile and updates DevOps SRE Design CI/CD DevSecOps Itaú Unibanco | May 2019

CUBO | Innovation ecosystem 70+ projects 1,100 between the bank residents (120 startups) and Cubo startups Cubo is the largest hub 13 floors startups for technological 400 members + rooftop entrepreneurship promotion in 215,000+ ft² Latin America. 2,000 people/day + 4 events/day 1,000 events/year 24 sponsors Spark Awards Founders: Business verticals: Industry | Retail | Health | Education | Fintech IF Design Award Awards International Visual Identity Awards Partnerships: since 2015: Financial Innovation Awards 2016 + others Startup Awards Itaú Unibanco | May 2019CUBO | Innovation ecosystem 70+ projects 1,100 between the bank residents (120 startups) and Cubo startups Cubo is the largest hub 13 floors startups for technological 400 members + rooftop entrepreneurship promotion in 215,000+ ft² Latin America. 2,000 people/day + 4 events/day 1,000 events/year 24 sponsors Spark Awards Founders: Business verticals: Industry | Retail | Health | Education | Fintech IF Design Award Awards International Visual Identity Awards Partnerships: since 2015: Financial Innovation Awards 2016 + others Startup Awards Itaú Unibanco | May 2019

What is Itaú Unibanco doing to achieve customer ownership? + speed to extend our digital offer value proposition addressing deep knowledge of customer real customer needs Itaú Unibanco | Maio 2019What is Itaú Unibanco doing to achieve customer ownership? + speed to extend our digital offer value proposition addressing deep knowledge of customer real customer needs Itaú Unibanco | Maio 2019

Technology platform | Data analytics and AI Understand customers and leverage the business. Generated value Training and capacity building Analytics Ops Value capture with AI and analytics has Human capital training and knowledge Efficient strategy for been increasing dissemination model deployment (base 100) 7x Number of data scientists at Itaú Unibanco: 375 faster 4x 270 +16% faster ~250 214 +548% 100 2017 2018 2019 33 2017 2018 2019 2017 2018 2019 Itaú Unibanco Analytics Training Program: Average ROI 1500% • 7 months long • 400h training VIRTUAL ASSISTANT Artificial intelligence algorithm is retrained Partnerships: every week Itaú Unibanco | May 2019Technology platform | Data analytics and AI Understand customers and leverage the business. Generated value Training and capacity building Analytics Ops Value capture with AI and analytics has Human capital training and knowledge Efficient strategy for been increasing dissemination model deployment (base 100) 7x Number of data scientists at Itaú Unibanco: 375 faster 4x 270 +16% faster ~250 214 +548% 100 2017 2018 2019 33 2017 2018 2019 2017 2018 2019 Itaú Unibanco Analytics Training Program: Average ROI 1500% • 7 months long • 400h training VIRTUAL ASSISTANT Artificial intelligence algorithm is retrained Partnerships: every week Itaú Unibanco | May 2019

Technology platform | Open banking More data about our customers. PHASE 1 PHASE 2 PHASE 3 PHASE 4 2022 2020 2021 CURRENT ACCOUNT INFORMATION PRODUCT INFORMATION CUSTOMER DATA PAYMENT CREDIT INFORMATION Location of points of service, product Name, parents’ names, address etc. Data related to deposit accounts, Payment initiation, cash features, contract terms and credit transactions, other products transfers, payments for conditions, financial costs etc. and services contracted by products and services etc. customers etc. Great opportunity for customer ownership. Itaú Unibanco | May 2019Technology platform | Open banking More data about our customers. PHASE 1 PHASE 2 PHASE 3 PHASE 4 2022 2020 2021 CURRENT ACCOUNT INFORMATION PRODUCT INFORMATION CUSTOMER DATA PAYMENT CREDIT INFORMATION Location of points of service, product Name, parents’ names, address etc. Data related to deposit accounts, Payment initiation, cash features, contract terms and credit transactions, other products transfers, payments for conditions, financial costs etc. and services contracted by products and services etc. customers etc. Great opportunity for customer ownership. Itaú Unibanco | May 2019

Human capital | Iniciatives Performance based New ways to on cooperation attract talent Evaluation combines collective indicators and individual efforts Hackathons + 5,000 pre-select new people (2018) employees Data scientist Analytics Education New technology Program building Redesigned spaces to encourage cooperation, creativity and productivity Dress code flexibility Delivery Valuing and respecting people’s Communities + 7,000 29 unique personalities people Communities Itaú Unibanco | May 2019Human capital | Iniciatives Performance based New ways to on cooperation attract talent Evaluation combines collective indicators and individual efforts Hackathons + 5,000 pre-select new people (2018) employees Data scientist Analytics Education New technology Program building Redesigned spaces to encourage cooperation, creativity and productivity Dress code flexibility Delivery Valuing and respecting people’s Communities + 7,000 29 unique personalities people Communities Itaú Unibanco | May 2019

Our initiatives are reflected in numbers Significant improvement in indicators: Lead time Regulatory environment More value Reduced delivery time for Attended more regulatory requirements Highest return on financial technology solutions using technology benefit projects (Base 100) (Base 100) (Base 100) +161% +122% -48% +97% +95% -22% -33% 222 261 100 +34% +12% 78 52 134 112 100 100 201620172018 201620172018 201620172018 Itaú Unibanco | May 2019Our initiatives are reflected in numbers Significant improvement in indicators: Lead time Regulatory environment More value Reduced delivery time for Attended more regulatory requirements Highest return on financial technology solutions using technology benefit projects (Base 100) (Base 100) (Base 100) +161% +122% -48% +97% +95% -22% -33% 222 261 100 +34% +12% 78 52 134 112 100 100 201620172018 201620172018 201620172018 Itaú Unibanco | May 2019

Digital experience | Itaú Unibanco customers are increasingly going digital 1 Use of digital channels % of transactions through digital channels Transaction volume (%) Individuals (millions) Companies (millions) 74% 73% 1Q17 1Q19 2 Credit 16% 18% 11.5 2 Investments 37% 46% 27% 1.2 10.0 1.1 26% 1.0 8.8 2 Payments 64% 80% 2008 2010 2012 2014 2016 2018 3 Transfers 88% 94% Mar-17 Mar-18 Mar-19 Mar-17 Mar-18 Mar-19 Physical Digital New Individuals accounts (thousands) % digital operations on the retail operating revenues 1,108 1,073 1,066 1,037 1,007 Digital Physical 27% 32% Efficiency ratio Branches Branches of branches in 1Q19 221 225 165 127 91 Physical 73% 68% Abreconta 27% 70% Branches App Physical Digital 1Q18 2Q18 3Q18 4Q18 1Q19 1Q17 1Q19 (1) Internet, mobile and SMS on Retail Bank; (2) Share of digital channels in the volume (R$) of transactions in the Retail Bank segment; and (3) Share of digital channels in quantity of transfers between different banks in the Retail Bank segment. Itaú Unibanco | May 2019Digital experience | Itaú Unibanco customers are increasingly going digital 1 Use of digital channels % of transactions through digital channels Transaction volume (%) Individuals (millions) Companies (millions) 74% 73% 1Q17 1Q19 2 Credit 16% 18% 11.5 2 Investments 37% 46% 27% 1.2 10.0 1.1 26% 1.0 8.8 2 Payments 64% 80% 2008 2010 2012 2014 2016 2018 3 Transfers 88% 94% Mar-17 Mar-18 Mar-19 Mar-17 Mar-18 Mar-19 Physical Digital New Individuals accounts (thousands) % digital operations on the retail operating revenues 1,108 1,073 1,066 1,037 1,007 Digital Physical 27% 32% Efficiency ratio Branches Branches of branches in 1Q19 221 225 165 127 91 Physical 73% 68% Abreconta 27% 70% Branches App Physical Digital 1Q18 2Q18 3Q18 4Q18 1Q19 1Q17 1Q19 (1) Internet, mobile and SMS on Retail Bank; (2) Share of digital channels in the volume (R$) of transactions in the Retail Bank segment; and (3) Share of digital channels in quantity of transfers between different banks in the Retail Bank segment. Itaú Unibanco | May 2019

Digital experience | Efficiency focus, while continuously investing in technology Technology investments 160 130 122 100 111 106 101 18% 100 Inflation (IPCA) 70.1 accumulated in the 64.2 61.2 60.7 46.4 47.6 46.3 45.3 period 2016 2017 2018 2019 (E) Efficiency Ratio (%) Risk-Adjusted Efficiency Ratio (%) Non-interest Expenses (Base 100) Technology investments (Base 100) Itaú Unibanco | May 2019Digital experience | Efficiency focus, while continuously investing in technology Technology investments 160 130 122 100 111 106 101 18% 100 Inflation (IPCA) 70.1 accumulated in the 64.2 61.2 60.7 46.4 47.6 46.3 45.3 period 2016 2017 2018 2019 (E) Efficiency Ratio (%) Risk-Adjusted Efficiency Ratio (%) Non-interest Expenses (Base 100) Technology investments (Base 100) Itaú Unibanco | May 2019

Digital experience | Continuous updates for a better experience 1st bank APP ITAÚ (INDIVIDUALS) offering bank account opening by mobile phone 4,6 + 11 MM individual clients using digital channels 1st bank + 40 new features on the offering a leaner mobile channel smartphone app 318 updates in our apps in 2018 Average: 2 updates a month per app Card receivables APP ITAÚ EMPRESAS control by phone 3,8 4,4 Updated in 31/12/2018 Itaú Unibanco | May 2019Digital experience | Continuous updates for a better experience 1st bank APP ITAÚ (INDIVIDUALS) offering bank account opening by mobile phone 4,6 + 11 MM individual clients using digital channels 1st bank + 40 new features on the offering a leaner mobile channel smartphone app 318 updates in our apps in 2018 Average: 2 updates a month per app Card receivables APP ITAÚ EMPRESAS control by phone 3,8 4,4 Updated in 31/12/2018 Itaú Unibanco | May 2019

What is Itaú Unibanco doing to achieve customer ownership? + speed to extend our digital offer value proposition addressing deep knowledge of customer real customer needs Itaú Unibanco | Maio 2019What is Itaú Unibanco doing to achieve customer ownership? + speed to extend our digital offer value proposition addressing deep knowledge of customer real customer needs Itaú Unibanco | Maio 2019

Offers | REDE customer centricity case Rede eliminated the prepayment rate on credit card transactions without installments. Come to Rede. • Use of any Rede’s point of sale machine with a bank domicile in Itaú Unibanco • Annual sales up to R$30 million Stimulate the Pursue even Influence We development higher levels other moves want: of entrepreneurs, of customer in the industry micro and small satisfaction companies Itaú Unibanco | May 2019Offers | REDE customer centricity case Rede eliminated the prepayment rate on credit card transactions without installments. Come to Rede. • Use of any Rede’s point of sale machine with a bank domicile in Itaú Unibanco • Annual sales up to R$30 million Stimulate the Pursue even Influence We development higher levels other moves want: of entrepreneurs, of customer in the industry micro and small satisfaction companies Itaú Unibanco | May 2019

Offers | Credicard ZERO Paperless, zero fee credit card. Zero annuity and distinguished Customer • 100% digital sale: 691k new customers loyalty program that converts recognition into miles of any company • 45% lower operational costs and 69% lower acquisition costs Global NPS 74 Available on: Digital Paperless Value for money Digital Experience (+expense benefit –churn) Itaú Unibanco | May 2019Offers | Credicard ZERO Paperless, zero fee credit card. Zero annuity and distinguished Customer • 100% digital sale: 691k new customers loyalty program that converts recognition into miles of any company • 45% lower operational costs and 69% lower acquisition costs Global NPS 74 Available on: Digital Paperless Value for money Digital Experience (+expense benefit –churn) Itaú Unibanco | May 2019

Offers | personalized investment offer A customized selection of investment products by Itaú or other companies. Transparent + knowledge and understanding recommendations, respecting of customer. investor profile and goals. Main products and services Funds Stocks Tesouro Savings Retirement CDB and fixed Direto income Itaú Unibanco | May 2019Offers | personalized investment offer A customized selection of investment products by Itaú or other companies. Transparent + knowledge and understanding recommendations, respecting of customer. investor profile and goals. Main products and services Funds Stocks Tesouro Savings Retirement CDB and fixed Direto income Itaú Unibanco | May 2019

Offers | insurance open platform Expansion of insurance portfolio with complementary products offered by partner insurance companies. Residential / Auto Corporate 2018 Healthcare 2017 Capitalization 07 categories 11 Life Card protection 02 insurers 08 Smartphone Assistance protection 05 channels 07 Dental Travel 29 products 39 Payment protection/ Guarantee + Multi-channel distribution Post-sale Easy access and convenience Specialized Benefits: for customers focused on fee business salesforce excellence Itaú Unibanco | May 2019Offers | insurance open platform Expansion of insurance portfolio with complementary products offered by partner insurance companies. Residential / Auto Corporate 2018 Healthcare 2017 Capitalization 07 categories 11 Life Card protection 02 insurers 08 Smartphone Assistance protection 05 channels 07 Dental Travel 29 products 39 Payment protection/ Guarantee + Multi-channel distribution Post-sale Easy access and convenience Specialized Benefits: for customers focused on fee business salesforce excellence Itaú Unibanco | May 2019

Iti is a multi-purpose platform that allows clients and non-clients to pay, buy, transfer and receive money instantaneously peer-to-peer or through a QR code. Individuals • No minimum income or bank account requirements • Pay, buy, transfer and receive money easily and instantly, using just a smartphone • Virtual wallet: credit cards (of any bank) to make payments • Discounts and benefits in partner retailers 800.000 Rede merchants • Zero fee offer (freemium)Iti is a multi-purpose platform that allows clients and non-clients to pay, buy, transfer and receive money instantaneously peer-to-peer or through a QR code. Individuals • No minimum income or bank account requirements • Pay, buy, transfer and receive money easily and instantly, using just a smartphone • Virtual wallet: credit cards (of any bank) to make payments • Discounts and benefits in partner retailers 800.000 Rede merchants • Zero fee offer (freemium)

Product evolution layer 0 layer 1 layer 2 layer 3 hypothesis (to be determined Digital prepaid Open banking Beyond by customers) Lending platform account banking Investments Payments Marketplace Credit card Human chat service Personal financial management Conversational interface Scale and Monetize Monetize Monetize engage Deficit Bank services Commission and Commission operation with no fees data monetization rent. goalProduct evolution layer 0 layer 1 layer 2 layer 3 hypothesis (to be determined Digital prepaid Open banking Beyond by customers) Lending platform account banking Investments Payments Marketplace Credit card Human chat service Personal financial management Conversational interface Scale and Monetize Monetize Monetize engage Deficit Bank services Commission and Commission operation with no fees data monetization rent. goal

Digital experience | Recurring net income and value creation ROE Average cost of capital Recurring net income Value creation Cost of capital Itaú Unibanco | May 2019 R$ billionDigital experience | Recurring net income and value creation ROE Average cost of capital Recurring net income Value creation Cost of capital Itaú Unibanco | May 2019 R$ billion

Digital strategy Candido Bracher | President and CEO Ricardo Guerra | CIO Itaú Unibanco | May 2019Digital strategy Candido Bracher | President and CEO Ricardo Guerra | CIO Itaú Unibanco | May 2019

Attachments Itaú Unibanco | May 2019Attachments Itaú Unibanco | May 2019

Economic models Traditional Digital products market Several High initial CAPEX $ opportunity short investment becomes delivery OPEX: cycles Variable costs Financial Low return Fixed costs initial Costs Free is too investment different Investment from cheap $ (behavioral Delivery economics) Low customer involvement Customer involvement in all developments Marketing research OUTCOMES OUTCOMES Valuation WHAT DO WE NEED TO PURSUE? High capex; Low capex; Investment 1 Customer obsession Very long lead time; + experimentation; in assets 2 Speed Distribution First scale the customer Higher expectation of centers (branches) short-term return; base, then monetize; 3 Low capex Data center Lower expectation of short- Need for early revenue. 4 Freemium Softwares term return (venture capital).Economic models Traditional Digital products market Several High initial CAPEX $ opportunity short investment becomes delivery OPEX: cycles Variable costs Financial Low return Fixed costs initial Costs Free is too investment different Investment from cheap $ (behavioral Delivery economics) Low customer involvement Customer involvement in all developments Marketing research OUTCOMES OUTCOMES Valuation WHAT DO WE NEED TO PURSUE? High capex; Low capex; Investment 1 Customer obsession Very long lead time; + experimentation; in assets 2 Speed Distribution First scale the customer Higher expectation of centers (branches) short-term return; base, then monetize; 3 Low capex Data center Lower expectation of short- Need for early revenue. 4 Freemium Softwares term return (venture capital).

Technology as business enabler MOBILE EVENT-DRIVEN AND INTERNET ARCHITECTURE 1 3 1 2 SOCIAL CLOUD 1 2 3 DATA BLOCKCHAIN 1 2 2 MICROSERVICES AGILE (business + tech) 2 2 3 1 WHAT DO WE NEED TO PURSUE? Customer obsession Low capex 1 3 Freemium 2 Speed 4Technology as business enabler MOBILE EVENT-DRIVEN AND INTERNET ARCHITECTURE 1 3 1 2 SOCIAL CLOUD 1 2 3 DATA BLOCKCHAIN 1 2 2 MICROSERVICES AGILE (business + tech) 2 2 3 1 WHAT DO WE NEED TO PURSUE? Customer obsession Low capex 1 3 Freemium 2 Speed 4

Agile working model | Delivery communities and continuous delivery Evolution of working model +6000 employees Technology Technology + bj d bj d bj d bj d in this model other areas of the bank Delivery communities Integrated communities 2018-2021 2015/2016 (operational improvements) 2017 Lead time 100 78 (2016) (2017) 52 46 (2018) (2019 - forecast) Focus on technology investments to have continuous deliveries | + speed Low initial investment with Mandatory for the business Evolve the business benefits continuously Ensure the Investments in growth captured 44% 56% continuous operation and business of technology of technology of the bank transformation investment investment Itaú Unibanco | May 2019Agile working model | Delivery communities and continuous delivery Evolution of working model +6000 employees Technology Technology + bj d bj d bj d bj d in this model other areas of the bank Delivery communities Integrated communities 2018-2021 2015/2016 (operational improvements) 2017 Lead time 100 78 (2016) (2017) 52 46 (2018) (2019 - forecast) Focus on technology investments to have continuous deliveries | + speed Low initial investment with Mandatory for the business Evolve the business benefits continuously Ensure the Investments in growth captured 44% 56% continuous operation and business of technology of technology of the bank transformation investment investment Itaú Unibanco | May 2019

Technology platform | Open banking regulation Open Banking is moving in many countries and each one is creating models to fit local specifications. Canada is Russia is exploring analyzing the Open the Open Banking / Banking subject Data model UK Implementation in Implementation is 2018 EU PSD2 USA took a stance more advanced in the started in in favor of Open Jan-2018 Singapore, HK and Banking through a UK, European Union Japan are making statement by the progress on Treasury and Australia legislation Kenia and Mexico recently approved Payment and banking Nigeria are fintech legislation, a infrastructure in India is focused on precursor of the Open New Zealand readying for an Open financial inclusion Banking regime discusses an organic Banking model growth model Brazilian Australia is South Africa is regulators are implementing a following PSD2 preparing local broad Open developments regulations on the Banking model subject Fonte: Oliver Wyman. Itaú Unibanco | May 2019Technology platform | Open banking regulation Open Banking is moving in many countries and each one is creating models to fit local specifications. Canada is Russia is exploring analyzing the Open the Open Banking / Banking subject Data model UK Implementation in Implementation is 2018 EU PSD2 USA took a stance more advanced in the started in in favor of Open Jan-2018 Singapore, HK and Banking through a UK, European Union Japan are making statement by the progress on Treasury and Australia legislation Kenia and Mexico recently approved Payment and banking Nigeria are fintech legislation, a infrastructure in India is focused on precursor of the Open New Zealand readying for an Open financial inclusion Banking regime discusses an organic Banking model growth model Brazilian Australia is South Africa is regulators are implementing a following PSD2 preparing local broad Open developments regulations on the Banking model subject Fonte: Oliver Wyman. Itaú Unibanco | May 2019

Technology platform | Open banking regulation Itaú Unibanco is closely following the regulation evolution of open banking. Access and aggregation of transactions from different IFs in a Aggregates data and single data environment to offer several analysis and solutions to analitycs decisions 1 support the customer’s financial decisions. Enhancement/improvement of credit score analysis, for Credit evaluation instance, using the customer’s bank transaction history to 2 facilitate access to financial products. Comparison of prices and product/service offerings from different providers in a single platform using public information Product comparison 3 about products and services. Providers share registration data, facilitating the customer Identity verification onboarding process. 4 Payment initiation by third-party suppliers with no need to go Payments and transfers through the entire current payment chain (acquirers and labels). 5 Itaú Unibanco | May 2019Technology platform | Open banking regulation Itaú Unibanco is closely following the regulation evolution of open banking. Access and aggregation of transactions from different IFs in a Aggregates data and single data environment to offer several analysis and solutions to analitycs decisions 1 support the customer’s financial decisions. Enhancement/improvement of credit score analysis, for Credit evaluation instance, using the customer’s bank transaction history to 2 facilitate access to financial products. Comparison of prices and product/service offerings from different providers in a single platform using public information Product comparison 3 about products and services. Providers share registration data, facilitating the customer Identity verification onboarding process. 4 Payment initiation by third-party suppliers with no need to go Payments and transfers through the entire current payment chain (acquirers and labels). 5 Itaú Unibanco | May 2019