PR Newswire | Feb 2, 2021 08:34AM EST

02/02 07:33 CST

Ita Unibanco Holding S.A. - Projections 2021MATERIAL FACT SAO PAULO, Feb. 2, 2021

SAO PAULO, Feb. 2, 2021 /PRNewswire/ -- Ita Unibanco Holding S.A. ("Company" or "Ita 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 Brazil^1 2021 Guidance 2021 Guidance Total credit portfolio^ Growing 5.5% to Growing 8.5% to 2 9.5% 12.5% Financial margin with clients Growing 2.5% to Growing 3.0% to 6.5% 7.0% Financial margin with the market Range from R$4.9 bn Range from R$3.3 bn to R$6.4 bn to R$4.8 bn Cost of credit^3 Range from R$21.3 bnRange from R$19.0 to R$24.3 bn bn to R$22.0 bn Commissions and fees and results Growing 2.5% to Growing 2.5% to from insurance operations^4,5 6.5% 6.5% Non-Interest expenses Range from -2.0% to Range from -2.0% to 2.0% 2.0% Effective tax rate Range from 34.5% to Range from 34.0% to 36.5% 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 Ita 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.

Sao Paulo, February 2, 2021

Renato Lulia JacobGroup Head of Investor Relations and Marketing Intelligence

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SOURCE Ita Unibanco Holding S.A.