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Itaú Unibanco Holding S.A. - Projections 2021

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MATERIAL FACT

SÃO PAULO, Feb. 2, 2021 /PRNewswire/ -- Itaú Unibanco Holding S.A. ("Company" or "Itaú Unibanco"), in compliance with Article 157, Paragraph 4 of Law 6,404/76 and Instruction no. 358/02 of the Brazilian Securities and Exchange Commission, informs its stockholders and the market in general that as of this date it has announced its projections for the year 2021 in accordance with the provision in item 11 ("Projections") of the Reference Form.


Consolidated
2021 Guidance

Brazil¹
2021 Guidance

Total credit portfolio2

Growing 5.5% to 9.5%

Growing 8.5% to 12.5%

Financial margin with clients

Growing 2.5% to 6.5%

Growing 3.0% to 7.0%

Financial margin with the market

Range from R$4.9 bn to R$6.4 bn

Range from R$3.3 bn to R$4.8 bn

Cost of credit3

Range from R$21.3 bn to R$24.3 bn

Range from R$19.0 bn to R$22.0 bn

Commissions and fees and results from insurance operations4,5

Growing 2.5% to 6.5%

Growing 2.5% to 6.5%

Non-Interest expenses

Range from -2.0% to 2.0%

Range from -2.0% to 2.0%

Effective tax rate

Range from 34.5% to 36.5%

Range from 34.0% to 36.0%

(1) Includes units abroad ex-Latin America; (2) Includes financial guarantees provided and corporate securities;(3) Includes Result from Loan Losses, Impairment and Discounts Granted; (4) Commissions and Fees (+) Income from Insurance, Pension Plan and Premium Bonds Operations (-) Expenses for Claims (-) Insurance, Pension Plan and Premium Bonds Selling Expenses; (5) 2021 guidance does not consider XP Inc. equity result starting in February 2021.

It is noteworthy mentioning, currently, the Company considers, for management purposes, a cost of capital of around 13.0% per year.

Information on outlooks for the business, projections and operational and financial goals are solely forecasts, based on management's current outlook in relation to the future of Itaú Unibanco. These expectations are highly dependent on market conditions, general economic performance of the country, of the sector and the international markets. Therefore, our effective results and performance may differ from those forecasted in this prospective information.

São Paulo, February 2, 2021

Renato Lulia Jacob
Group Head of Investor Relations and Marketing Intelligence

Cision
Cision

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SOURCE Itaú Unibanco Holding S.A.