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Earnings per share

12 Months Ended

Dec. 31, 2022

Note 25 - Earnings per share

a) Basic earnings per share

Net income attributable to ITAÚ UNIBANCO HOLDING's shareholders is divided by the average number of outstanding shares in the period, excluding treasury shares.

Summary of Earnings Per Share

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

Net income attributable to owners of the parent company 29,702 26,760 18,896

Minimum non-cumulative dividends on preferred shares (106) (106) (106)

Retained earnings to be distributed to common equity owners in an amount per share equal to the minimum dividend payable to preferred equity owners (109) (109) (109)

Retained earnings to be distributed, on a pro rata basis, to common and preferred equity owners:

Common 14,920 13,462 9,491

Preferred 14,567 13,083 9,190

Total net income available to equity owners

Common 15,029 13,571 9,600

Preferred 14,673 13,189 9,296

Weighted average number of outstanding shares

Common 4,958,290,359 4,958,290,359 4,958,290,359

Preferred 4,840,703,872 4,818,741,579 4,801,324,161

Basic earnings per share – R$

Common 3.03 2.74 1.94

Preferred 3.03 2.74 1.94

b) Diluted earnings per share

Calculated similarly to the basic earnings per share; however, it includes the conversion of all preferred shares potentially dilutable in the denominator.

Schedule of diluted earnings per share

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

Net income available to preferred equity owners 14,673 13,189 9,296

Dividends on preferred shares after dilution effects 91 75 41

Net income available to preferred equity owners considering preferred shares after the dilution effect 14,764 13,264 9,337

Net income available to ordinary equity owners 15,029 13,571 9,600

Dividend on preferred shares after dilution effects (91) (75) (41)

Net income available to ordinary equity owners considering preferred shares after the dilution effect 14,938 13,496 9,559

Adjusted weighted average of shares

Common 4,958,290,359 4,958,290,359 4,958,290,359

Preferred 4,900,469,300 4,873,042,114 4,843,233,835

Preferred 4,840,703,872 4,818,741,579 4,801,324,161

Incremental as per share-based payment plans 59,765,428 54,300,535 41,909,674

Diluted earnings per share – R$

Common 3.01 2.72 1.93

Preferred 3.01 2.72 1.93

There was no potentially antidulitive effect of the shares in share-based payment plans, in both periods.