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Stockholders’ equity

12 Months Ended

Dec. 31, 2022

Note 19 - Stockholders’ equity

a) Capital

Capital is represented by 9,804,135,348 book-entry shares with no par value, of which 4,958,290,359 are common shares and 4,845,844,989 are preferred shares with no voting rights, but with tag-along rights in a public offering of shares, in a possible transfer of control, assuring them a price equal to 80% (eighty per cent) of the amount paid per voting share in the controlling block, and a dividend at least equal to that of the common shares.

The breakdown and change in shares of paid-in capital in the beginning and end of the period are shown below:

12/31/2022

Number Amount

Common Preferred Total

Residents in Brazil 12/31/2021 4,929,997,183 1,771,808,645 6,701,805,828 62,020

Residents abroad 12/31/2021 28,293,176 3,074,036,344 3,102,329,520 28,709

Shares of capital stock 12/31/2021 4,958,290,359 4,845,844,989 9,804,135,348 90,729

Shares of capital stock 12/31/2022 4,958,290,359 4,845,844,989 9,804,135,348 90,729

Residents in Brazil 12/31/2022 4,927,867,243 1,629,498,182 6,557,365,425 60,683

Residents abroad 12/31/2022 30,423,116 3,216,346,807 3,246,769,923 30,046

Treasury shares ⁽¹⁾ 12/31/2021 - 24,244,725 24,244,725 (528)

Result from delivery of treasury shares - (20,976,037) (20,976,037) 457

Treasury shares ⁽¹⁾ 12/31/2022 - 3,268,688 3,268,688 (71)

Number of total shares at the end of the period ⁽²⁾ 12/31/2022 4,958,290,359 4,842,576,301 9,800,866,660

Number of total shares at the end of the period ⁽²⁾ 12/31/2021 4,958,290,359 4,821,600,264 9,779,890,623

12/31/2021

Number Amount

Common Preferred Total

Residents in Brazil 12/31/2020 12/31/2020 4,929,824,281 1,820,159,657 6,749,983,938 66,885

Residents abroad 12/31/2020 12/31/2020 28,466,078 3,025,685,332 3,054,151,410 30,263

Shares of capital stock 12/31/2020 12/31/2020 4,958,290,359 4,845,844,989 9,804,135,348 97,148

Shares of capital stock 12/31/2021 12/31/2021 4,958,290,359 4,845,844,989 9,804,135,348 90,729

Residents in Brazil 12/31/2021 12/31/2021 4,929,997,183 1,771,808,645 6,701,805,828 62,020

Residents abroad 12/31/2021 12/31/2021 28,293,176 3,074,036,344 3,102,329,520 28,709

Treasury shares ⁽¹⁾ 12/31/2020 12/31/2020 - 41,678,452 41,678,452 (907)

Result from delivery of treasury shares - (17,433,727) (17,433,727) 379

Treasury shares ⁽¹⁾ 12/31/2021 12/31/2021 - 24,244,725 24,244,725 (528)

Number of total shares at the end of the period ⁽²⁾ 12/31/2021 12/31/2021 4,958,290,359 4,821,600,264 9,779,890,623

Number of total shares at the end of the period ⁽²⁾ 12/31/2020 12/31/2020 4,958,290,359 4,804,166,537 9,762,456,896

1) Own shares, purchased based on authorization of the Board of Directors, to be held in Treasury, for subsequent cancellation or replacement in the market.

2) Shares representing total capital stock net of treasury shares.

Below is the average cost of treasury shares and their market price in reais. In 2022 and 2021, there was no acquisition of treasury shares.

Cost / market value 12/31/2022 12/31/2021

Common Preferred Common Preferred

Average cost - 21.76 - 21.76

Market value on the last day of the base date 21.89 25.00 19.09 20.95

b) Dividends

Shareholders are entitled to a mandatory minimum dividend in each fiscal year, corresponding to 25% of adjusted net income, as set forth in the Bylaws. Common and preferred shares participate equally in income distributed, after common shares have received dividends equal to the minimum annual priority dividend payable to preferred shares (R$ 0.022 non-cumulative per share).

ITAÚ UNIBANCO HOLDING monthly advances the mandatory minimum dividend, using the share position of the last day of the previous month as the calculation basis, and the payment made on the first business day of the subsequent month in the amount of R$ 0.015 per share.

I - Calculation of dividends and interest on capital

12/31/2022 12/31/2021 12/31/2020

Statutory net income 29,695 26,236 18,961

Adjustments:

(-) Legal reserve - 5% (1,485) (1,312) (948)

Dividend calculation basis 28,210 24,924 18,013

Minimum mandatory dividend - 25% 7,053 6,231 4,503

Dividends and interest on capital paid / accrued 8,368 6,231 4,503

II - Stockholders' compensation

Schedule of Stockholders' Compensation

12/31/2022

Gross value per share (R$) Value WHT (With holding tax) Net

Paid / prepaid 4,906 (735) 4,171

Interest on capital - 11 monthly installments paid from February to December 2022 0.0150 1,902 (285) 1,617

Interest on capital - paid on 08/30/2022 0.2605 3,004 (450) 2,554

Accrued (Recorded in Other liabilities - Social and statutory) 4,938 (741) 4,197

Interest on capital - 1 monthly installment paid on 01/02/2023 0.0150 173 (26) 147

Interest on capital - credited on 12/08/2022 to be paid until 04/28/2023 0.4133 4,765 (715) 4,050

Total - 01/01 to 12/31/2022 9,844 (1,476) 8,368

12/31/2021

Gross value per share (R$) Value WHT (With holding tax) Net

Paid / prepaid 4,179 (407) 3,772

Dividends - 10 monthly installments paid from February to November 2021 0.0150 1,466 - 1,466

Interest on capital - 1 monthly installment paid in December 2021 0.0150 173 (26) 147

Interest on capital - paid on 08/26/2021 0.2207 2,540 (381) 2,159

Accrued (Recorded in Other liabilities - Social and statutory) 2,894 (435) 2,459

Interest on capital - 1 monthly installment paid on 01/03/2022 0.0150 173 (26) 147

Interest on capital - credited on 11/26/2021 to be paid until 04/29/2022 0.2249 2,587 (388) 2,199

Interest on capital 0.0116 134 (21) 113

Total - 01/01 to 12/31/2021 7,073 (842) 6,231

12/31/2020

Gross value per share (R$) Value WHT (With holding tax) Net

Paid / prepaid 2,127 (78) 2,049

Dividends - 11 monthly installments paid from February to December 2020 0.0150 1,610 - 1,610

Interest on capital - paid on 08/26/2020 0,0450 517 (78) 439

Accrued (Recorded in Other liabilities - Social and statutory) 2,861 (407) 2,454

Dividends - 1 monthly installment paid on 01/04/2021 0.0150 146 - 146

Interest on capital - credited on 12/17/2020 to be paid until 04/30/2021 0,0544 624 (93) 531

Interest on capital - credited on 01/28/2021 to be paid until 04/30/2021 0.0426 490 (74) 416

Dividends or Interest on capital 0.1394 1,601 (240) 1,361

Total - 01/01 to 12/31/2020 4,988 (485) 4,503

c) Capital reserves and profit reserves

12/31/2022 12/31/2021 12/31/2020

Capital reserves 2,480 2,250 2,326

Premium on subscription of shares 284 284 284

Share-based payment 2,192 1,962 2,038

Reserves from tax incentives, restatement of equity securities and other 4 4 4

Profit reserves 86,892 66,161 47,347

Legal ⁽¹⁾ 15,071 13,586 12,274

Statutory ^(2,3) 71,821 52,575 35,073

Total reserves at parent company 89,372 68,411 49,673

1) Its purpose is to ensure the integrity of capital, compensate loss or increase capital.

2) Its main purpose is to ensure the yield flow to shareholders.

3) Includes R$ 288 which refers to net income remaining after the distribuition of dividends and appropriations to statutory reserves in the statutory accounts of ITAÚ UNIBANCO HOLDING.

d) Non-controlling interests

Summary of Non-controlling Interests

Stockholders’ equity Income

12/31/2022 12/31/2021 01/01 to 12/31/2022 01/01 to 12/31/2021 01/01 to 12/31/2020

Itaú CorpBanca 6,926 9,836 887 1,310 (4,135)

Itaú CorpBanca Colombia S.A. 14 476 3 38 (15)

Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento 769 666 123 131 164

Luizacred S.A. Soc. Cred. Financiamento Investimento 377 426 (50) 76 102

Other ⁽¹⁾ 1,304 208 72 69 52

Total 9,390 11,612 1,035 1,624 (3,832)

1) As from 2022, in accordance with Regulatory Instruction No. 272 of 04/01/2022, it includes non-controlling minority of consolidated investments funds.