Itau Unibanco Holding S.A.

Thank you, Renato.

Good morning, everyone. It's a pleasure to have you here for our first quarter of 2023 earnings presentation. Our goal is to make an objective presentation focusing on earnings. Since on June 15th, we will host Itaú Day 2023, which will be the right occasion to share with you a lot more about our strategy and our business developments. We will talk about client centricity and digital and cultural transformation. We'll go deeper on several topics that we've been talking a lot about with you. The recurring managerial result was 8.4 billion Brazilian reals this quarter, a quarter-on-quarter increase of 10%, and which pushed us to a consolidated ROE of 20.7%, representing an increase of 1.4 percentage point, and ROE of 21.1% in Brazil. Financial margin with clients was R$ 24 billion, down 0.7 percentage point quarter over quarter, but it's worth mentioning the seasonality of the first quarter, as we can see in the historical series, since it has fewer calendar days. The cost of credit was 9.1 billion reals, down 7% quarter over quarter, and one of the positives is that our non-performing loans over 90 days remain stable at 2.9%, which is consistent with what I've been talking about for the last few quarters. I'll provide more details on this topic in the next slides. Finally, the efficiency ratio on a consolidated basis was 39.8%. a drop of 1.7 percentage points, remaining below 40% for the first time in history. This clearly shows that our journey has been consistent. It shows sustainable performance and top-notch results in all indicators. The credit portfolio showed signs of a slowdown, also in line with what I've been saying. The individual's loan portfolio grew 0.9% in the quarter, below what we had been growing in previous quarters, but still posts a year-on-year growth of 16%. The SME's loan portfolio grew 9.2% in the first quarter of 2023 versus the first quarter of 2022 and was down slightly by 2.2% on a quarter-on-quarter basis, in line with the bank's risk management measures. The total portfolio in Brazil grew 11.2% in the first quarter of 2023 versus the first quarter of 2022 and 0.6% on a quarter-on-quarter basis. The corporate loan portfolio grew 1.8% in the quarter. In Latin America, the portfolio grew 11.7% or 10.4%, excluding the FX effect. It's still a solid growth, but at a slower pace than we had been posting in previous quarters, since we have been more cautious in light of the current macro scenario. In the last quarters, we've talked a lot about the individuals and retail portfolios. But I know that the market concern now is the corporate loan portfolio. There are concerns about the prolonged interest rate cycle and its effects on the bank's portfolio and how prepared the bank is to face a more adverse macro scenario when we look into the future. So we brought some figures that we felt would be important to share with you.

We classify our loan portfolio into industries according to their volatility.