PR Newswire | Jul 16, 2021 05:30PM EDT

Payroll Management Services

07/16 16:29 CDT

Material Fact: Ita Wins The Bidding Process Promoted By Minas Gerais For Payroll Management Services SAO PAULO, July 16, 2021

SAO PAULO, July 16, 2021 /PRNewswire/ -- ITAU UNIBANCO HOLDING S.A.("Ita Unibanco") announces to its stockholders that it won as of today, July 16, 2021, the bidding process promoted by the State of Minas Gerais, as it has presented the best financial proposal for the rendering of payroll management services, for five years, to state public servants (active, retirees and pensioners), and to companies that are suppliers of the State, totaling a monthly amount of approximately R$ 4.8 billion ("operation").

The proposal establishes a payment in cash of R$ 2.4 billion for payroll management. This payment will be recorded as "Intangible" and recognized in the statement of income on a deferred basis.

This operation reaches 618 thousand public servants, 20% of which concentrated in the metropolitan region of Belo Horizonte; a balance of payroll loans portfolio of R$ 7.7 billion and; 6.3 thousand companies that are suppliers of the State.

Ita Unibanco will allow current accounts to be opened fully online and at new dedicated physical sites, in addition to our branches already existing in the State. This operation falls into the Phygital (physical and digital) strategy, which is targeted to offering service models to the most varied client profiles.

The agreement is now on its formalization phase.

Sao Paulo (State of Sao Paulo), July 16, 2021.

RENATO LULIA JACOBGroup Head of Investor Relations and Market Intelligence

Ita Unibanco - Comunicaao Corporativa(11) 5019-8880 / 8881 - imprensa@itau-unibanco.com.br

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SOURCE Ita Unibanco Holding S.A.