Itaú Corpbanca : Santander | 26th Annual Latin American Conference

January 18-20, 2022

Santander | 26th Annual Latin American Conference Presentation

ir.itau.cl

/Itaú Chile

/itauchile

@itauchile

Disclaimers

• This presentation is not an offer for sale of securities. This material has been prepared solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities and should not be treated as giving investment advice. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Any opinions expressed in this material are subject to change without notice and neither Itaú Corpbanca (the "Bank") nor any other person is under obligation to update or keep current the information contained herein. The information contained herein does not purport to be complete and is subject to qualifications and assumptions, and neither the Bank nor any agent can give any representations as to the accuracy thereof. The Bank and its respective affiliates, agents, directors, partners and employees accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material.
• Certain statements in this presentation may be considered forward-looking statements. Forward-looking information is often, but not always, identified by the use of words such as "anticipate," "believe," "expect," "plan," "intend," "forecast," "target," "project," "may," "will," "should," "could," "estimate," "predict" or similar words suggesting future outcomes or language suggesting an outlook. These forward-looking statements include, but are not limited to, anticipated future financial and operating performance and results, including estimates for growth, as well as risks and benefits of changes in the laws of the countries we operate.
• These statements are based on the current expectations of the Bank's management. There are risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. These factors include: trends affecting our financial condition or results of operations; our dividend policy; changes in the participation of our shareholders or any other factor that may result in a change of control; the amount of our indebtedness; adverse developments with respect to the financial stability and conditions of our shareholders, counterparties, joint venture partners and business partners; natural disasters and pandemics, including the ongoing SARS-CoV-2("COVID-19") pandemic; cyber- attacks, terrorism and other criminal activities; changes in general economic, business, regulatory, political or other conditions in the Republic of Chile, or Chile, or the Republic of Colombia, or Colombia, or changes in general economic or business conditions in Latin America or the global economy; changes in capital markets in general that may affect policies or attitudes towards lending to Chile or Colombia, Chilean or Colombian companies or securities issued by Chilean companies; the monetary and interest rate policies of the Central Bank of Chile (Banco Central de Chile), or the Central Bank of Colombia (Banco de la República de Colombia); inflation or deflation; unemployment; social unrest; our counterparties' failure to meet contractual obligations; unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms; unanticipated turbulence in interest rates; movements in currency exchange rates; movements in equity prices or other rates or prices; changes in Chilean, Colombian and foreign laws and regulations; changes in Chilean or Colombian tax rates or tax regimes; competition, changes in competition and pricing environments; concentration of financial exposure; our inability to hedge certain risks economically; the adequacy of our loss allowances, provisions or reserves; technological changes; changes in consumer spending and saving habits; successful implementation of new technologies; loss of market share; changes in, or failure to comply with, applicable banking, insurance, securities or other regulations; changes in accounting standards; difficulties in successfully integrating recent and future acquisitions into our operations; our ability to successfully complete the implementation of a new information technology core banking system in Colombia, as part of the integration process in Colombia; consequences of the Merger of Banco Itaú Chile with and into Corpbanca on April 1, 2016 (the "Merger"), the acquisition of the assets and liabilities of Itaú BBA Colombia S.A., Corporación Financiera ("Itaú BBA Colombia") by us (the "Itaú Colombia Acquisition"), and the acquisition of an additional 20.8% share ownership in Itaú Corpbanca Colombia by us; our ability to achieve revenue benefits and cost savings from the integration between former Corpbanca's and former Banco Itaú Chile's businesses and assets; our ability to address and forecast economic and social trends affecting our business, and to effectively implement the appropriate strategies.
• Forward-lookingstatements and information are based on current beliefs as well as assumptions made by and information currently available to the Bank's management. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking statements will not be achieved.
• We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking statements. More information on potential factors that could affect Itaú Corpbanca's financial results is included from time to time in the "Risk Factors" section of Itaú Corpbanca's Annual Report on Form 20-F for the fiscal year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission (the "SEC"). Furthermore, any forward-looking statement contained in this presentation speaks only as of the date hereof and Itaú Corpbanca does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this presentation are expressly qualified by this cautionary statement.
• This presentation may not be reproduced in any manner whatsoever. Any reproduction of this document in whole or in part is unauthorized. Failure to comply with this directive may result in a violation of the U.S. Securities Act of 1933, as amended, or the applicable laws of other jurisdictions.
• The information contained herein should not be relied upon by any person. Furthermore, you should consult with own legal, regulatory, tax, business, investment, financial and accounting advisers to the extent that you deem it necessary, and make your own investment, hedging and trading decision based upon your own judgment and advice from such advisers as you deem necessary and not upon any view expressed in this material.
• The Bank is an issuer in Chile of securities registered and regulated by the Financial Market Commission, or "CMF". Shares of our common stock are traded on the Bolsa de Comercio de Santiago-Bolsa de Valores, or the Santiago Stock Exchange and the Bolsa Electrónica de Chile- Bolsa de Valores, or Electronic Stock Exchange, which we jointly refer to as the "Chilean Stock Exchanges," under the symbol "ITAUCORP." The Bank is also a foreign private issuer registered with the SEC and the Bank's American Depositary Shares are traded on the New York Stock Exchange under the symbol "ITCB." Accordingly, we are currently required to file quarterly and annual reports in Spanish and issue hechos esenciales o relevantes (notices of essential or material events) to the CMF and provide copies of such reports and notices to the Chilean Stock Exchanges and the SEC. All such reports are available at www.cmf.cl, www.sec.gov and ir.itau.cl.

Agenda

Corporate 04

profile

08

Our 15 strategy

43

Economic 48

context

50

Additional 63 information

Our

business

Corporate

governance

Financial

highlights

Corporate profile

About us

Universal bank | We are key part of Itaú Unibanco's internationalization strategy

Regional footprint & main indicators 1, 2

	Assets	US$ 36.4 bn	US$ 7.8 bn	US$ 44.2 bn
	Loans	US$ 23.5 bn	US$ 5.9 bn	US$ 29.4 bn
	Market Share	9.7%3	4.0%3
	Headcount 4	5,160	2,931	8,091
	Branches 5	186	107	293
Itaú Corpbanca represents 21%	Recurring Net	US$ 72 mn	US$ 0 mn	US$ 73 mn
Income 3Q21
of Itaú Unibanco's consolidated
loan portfolio7	Recurring	17.2%	0.4%	13.2%
	RoTAE 3Q21 6

1− Information as of September 30, 2021; 2− Figures were converted at an exchange rate of 809.02 CLP/USD; 3− Information as of November 30, 2021 for Chile and as of October 31, 2021 for Colombia; 4− Headcount for Chile includes employees of our New York branch and for Colombia includes headcount of Itaú (Panama); 5− Branches for Chile include one branch in New York and for Colombia include one office in Panama; 6− Tangible Equity: Shareholders equity net of goodwill, intangibles from business combination and related deferred tax liabilities; 7- Considering the consolidated loan portfolios of Itaú Unibanco and Itaú Corpbanca reported in their respective 3Q'21 MD&As at a R$ 5.4464 / US$ and a Ch$ 809.02 / US$ foreign exchange rates as of 30.09.2021.

Sources: Itaú Corpbanca, CMF and SFC.

2021 3Q

4

Corporate profile

How we have evolved

Adaptable culture | innovation | transparency in business

Launch of First

Nacional Bank of

Boston in Chile 1977

1871	1971	1975	1995	1997	1998
Creation of the	M&A of Banco	INFISA (now known	Banco	M&A of Consumer
Bank under the	Francés, Banco	as Corp Group)	Concepción	Finance Corfinsa and
name of Banco de	Italiano and Banco	acquired Banco	rebranded to	Financiera Condell
Concepción	Valdivia	Concepción	Corpbanca

	Bank of America takes	Launch of	Acquisition of MCC,
	control after merger with	Banco Itaú	an asset manager
	Bank of Boston in the USA	Chile	and broker dealer
	2004	2007		2011
2002	2003		2009	2012	2013
Local IPO	NYSE Listing		New York	Acquisition in	Acquisition in
	ADR program		Branch	Colombia of	Colombia of
				Banco Santander	Helm Bank
				Colombia

2016

Merger

between Banco

Itaú Chile and

Corpbanca

2016	2017
2018

2019	2021
2020

Merger

Integration & Construction

Pandemic Mgmt & Planning

Transformation

• Team building: senior and middle management
• Corporate Governance, risk management framework and other policies
• Balance sheet and liquidity strengthening

• Migration and client segmentation of retail clients in Chile
• Roll out of digital initiatives
• Introduction of Itaú Brand in the Colombian retail Market

• Full focus on client satisfaction
• Strengthening our culture throughout the organization
• Deepening on Itaú's management model

• Continued emphasis on deepening client- centricity, while managing the social unrest and COVID-driven dynamics
• Strategic review of our operations in Chile and Colombia to accelerate our digital transformation process
• Design of a new innovative transformation plan driven by a digital approach

• Execution of the digital transformation plan
• Strategic implementation at the forefront of banking in the region
• We celebrate 150 years with our clients

5