Itaú Unibanco S A : Análise Gerencial da Operação e Demonstrações Contábeis Completas (BRGAAP) - 2T2022

2Q

22

Management discussion & analysis and complete financial statements

Second quarter of 2022

Contents

Management discussion & analysis

Page 03

Executive Summary	05
Income Statement and Balance Sheet Analysis	11
Managerial Financial Margin	12
Cost of Credit	13
Credit Quality	15
Commissions and Fees & Result from Insurance	17
Result from Insurance, Pension Plan and Premium Bonds	19
Non-interest Expenses	20
Balance Sheet	22
Credit Portfolio	23
Funding	25
Capital, Liquidity and Market Ratios	26
Results by Business Segments	27
Results by Region - Brazil and Latin America	29
Activities Abroad	30
Additional Information	31
Itaú Unibanco Shares	32
Comparison between BRGAAP and IFRS	33
Glossary	35
Independent Auditor's Report	37

Complete financial statements

Page 39

2Q

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Management discussion & analysis

Second quarter of 2022

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Itaú Unibanco Holding S.A.

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Management Discussion & Analysis

Executive Summary

Managerial Income Summary

The table below presents the financial indicators of Itaú Unibanco up to the end of each period.

In R$ million (except where indicated), end of period

Results	Recurring Managerial Result
Managerial Financial Margin (2)
	Operating Revenues (1)
	Recurring Managerial Return on Average Equity - Annualized - Consolidated (3)
	Recurring Managerial Return on Average Equity - Annualized - Brazil (3)
Performance	Recurring Managerial Return on Average Assets - Annualized (4)
Nonperforming Loans Ratio (90 days overdue) - Latin America
	Nonperforming Loans Ratio (90 days overdue) - Total
	Nonperforming Loans Ratio (90 days overdue) - Brazil
	Coverage Ratio (Total Allowance/NPL 90 days overdue) (5)
	Efficiency Ratio (ER) (6)
	Recurring Managerial Result per Share (R$) (7)
	Net Income per Share (R$) (7)
Shares	Number of Outstanding Shares at the end of the period - in million
Book Value per Share (R$)
	Dividends and Interest on Own Capital net of Taxes (8)
	Market Capitalization (9)
	Market Capitalization (9) (US$ million)
	Total Assets
	Total Credit Portfolio, including Financial Guarantees Provided and Corporate Securities
Sheet	Deposits + Debentures + Securities + Borrowings and Onlending (10)
Loan Portfolio/Funding (10)
Balance	Stockholders' Equity
Solvency Ratio - Prudential Conglomerate (BIS Ratio)
	Tier I Capital - BIS III
	Common Equity Tier I - BIS III
	Liquidity Coverage Ratio (LCR)
	Net Stable Funding Ratio (NSFR)
	Portfolio Managed and Investment Funds
	Total Number of Employees
Other	Brazil
Abroad
	Branches and CSBs - Client Service Branches
	ATM - Automated Teller Machines (11)

2Q22	1Q22	2Q21	1H22	1H21
7,679	7,361	6,543	15,039	12,941
35,249	33,035	30,328	68,284	59,906
22,638	21,047	18,792	43,685	37,427
20.8%	20.4%	18.9%	20.5%	18.8%
21.6%	21.0%	19.5%	21.2%	19.2%
1.4%	1.4%	1.2%	1.4%	1.2%
2.7%	2.6%	2.3%	2.7%	2.3%
3.0%	2.9%	2.7%	3.0%	2.7%
1.7%	1.6%	1.4%	1.7%	1.4%
218%	232%	283%	218%	283%
40.8%	41.8%	44.5%	41.2%	44.5%
0.78	0.75	0.67
0.76	0.69	0.77
9,801	9,800	9,780
15.37	14.73	13.91
1,774	1,661	1,754
222,578	270,690	292,908
42,493	57,134	58,556
2,294,476	2,183,310	2,069,302
1,084,142	1,032,240	909,055
1,178,817	1,111,159	1,041,749
72.9%	73.4%	69.5%
150,639	144,393	136,025
14.1%	13.9%	14.9%
12.6%	12.5%	13.5%
11.1%	11.1%	11.9%
145.7%	149.5%	180.9%
119.7%	119.8%	122.7%
1,530,744	1,513,177	1,478,407
99,913	100,553	98,250
87,703	88,260	85,611
12,210	12,293	12,639
4,192	4,215	4,326
43,747	44,325	45,420

Note: (1) Operating Revenues represents the sum of Managerial Financial Margin, Commissions and Fees and Revenues from Insurance, Pension Plan and Premium Bonds Operations before Retained Claims and Selling Expenses; (2) Detailed in the Managerial Financial Margin section; (3) The Annualized Recurring Managerial Return was calculated by dividing the Recurring Managerial Result by the Average Stockholders' Equity. This result was then multiplied by the number of periods in the year to derive the annualized rate. The bases for the calculation of returns were adjusted by the amounts of dividends proposed after the balance sheet closing date and not yet approved at Shareholders' or Board Meetings; (4) The return was calculated by dividing the Recurring Managerial Result by the Average Assets; (5) Includes the balance of the allowance for financial guarantees provided; (6) For further details of the Efficiency Ratio calculation methodologies, please refer to the Glossary section; (7) Calculated based on the weighted average number of outstanding shares for the period; (8) Interest on own capital. Amounts paid/provided for, declared and reserved in stockholders' equity; (9) Total number of outstanding shares (common and non-votingshares) multiplied by the average price per non-votingshare on the last trading day in the period. The market capitalization for 2Q21 does not consider the impact of the spin-offof the investment in Xp Inc. which occurred in October 2021; (10) As detailed in the Balance Sheet section; (11) Includes electronic service branches (ESBs), service points at third-partylocations and Banco24Horas ATMs.

Itaú Unibanco Holding S.A.

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