TABLE OF CONTENTS Page CERTAIN TERMS AND CONVENTIONS
................................................................................................................. 1 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS ......................................... 2 PRESENTATION OF FINANCIAL AND
OTHER INFORMATION ........................................................................ 4 SELECTED FINANCIAL DATA ................................................................................................................................. 5
OPERATING AND FINANCIAL REVIEW AND PROSPECTS ................................................................................ 6 RECENT DEVELOPMENTS
..................................................................................................................................... 17 SIGNATURES
............................................................................................................................................................ 19 INDEX TO FINANCIAL STATEMENTS
................................................................................................................ F-1 i TABLE OF CONTENTS Page CERTAIN TERMS AND CONVENTIONS
................................................................................................................. 1 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS ......................................... 2 PRESENTATION OF FINANCIAL AND
OTHER INFORMATION ........................................................................ 4 SELECTED FINANCIAL DATA ................................................................................................................................. 5
OPERATING AND FINANCIAL REVIEW AND PROSPECTS ................................................................................ 6 RECENT DEVELOPMENTS
..................................................................................................................................... 17 SIGNATURES
............................................................................................................................................................ 19 INDEX TO FINANCIAL STATEMENTS
................................................................................................................ F-1 i
CERTAIN TERMS AND CONVENTIONS All references in this Form 6-K to (i)
“Itaú Unibanco Holding,” “Itaú Unibanco Group,” “we,” “us” or “our” are references to Itaú Unibanco Holding S.A. and its consolidated subsidiaries and affiliates, except
where specified or differently required by the context; (ii) the “Brazilian government” are references to the federal government of the Federative Republic of Brazil, or Brazil; (iii) “preferred shares” are references to our
authorized and outstanding preferred shares with no par value; and (iv) “common shares” are references to our authorized and outstanding common shares with no par value. All references to “ADSs” are to American Depositary
Shares, each representing one preferred share, without par value. The ADSs are evidenced by American Depositary Receipts, or “ADRs,” issued by The Bank of New York Mellon, or BNY Mellon. All references herein to the “real,”
“reais” or “R$” are to the Brazilian real, the official currency of Brazil. All references to “US$,” “dollars” or “U.S. dollars” are to United States dollars. Additionally, unless specified
or the context indicates otherwise, the following definitions apply throughout this Form 6-K: · “Itaú Unibanco” means Itaú Unibanco S.A., together with its consolidated subsidiaries; · “Itaú BBA”
means Banco Itaú BBA S.A., together with its consolidated subsidiaries; · “Central Bank” means the Central Bank of Brazil; Additionally, acronyms used repeatedly, defined and technical terms, specific market expressions and the
full names of our main subsidiaries and other entities referenced in this report on Form 6-K are explained or detailed in the glossary of terms beginning on page 212 to our annual report on Form 20-F for the year ended December 31, 2018 filed with
the SEC on April 30, 2019, or our 2018 Form 20-F. 1 CERTAIN TERMS AND CONVENTIONS All references in this Form 6-K to (i) “Itaú Unibanco Holding,” “Itaú Unibanco Group,” “we,” “us” or
“our” are references to Itaú Unibanco Holding S.A. and its consolidated subsidiaries and affiliates, except where specified or differently required by the context; (ii) the “Brazilian government” are references to the
federal government of the Federative Republic of Brazil, or Brazil; (iii) “preferred shares” are references to our authorized and outstanding preferred shares with no par value; and (iv) “common shares” are references to our
authorized and outstanding common shares with no par value. All references to “ADSs” are to American Depositary Shares, each representing one preferred share, without par value. The ADSs are evidenced by American Depositary Receipts, or
“ADRs,” issued by The Bank of New York Mellon, or BNY Mellon. All references herein to the “real,” “reais” or “R$” are to the Brazilian real, the official currency of Brazil. All references to
“US$,” “dollars” or “U.S. dollars” are to United States dollars. Additionally, unless specified or the context indicates otherwise, the following definitions apply throughout this Form 6-K: · “Itaú
Unibanco” means Itaú Unibanco S.A., together with its consolidated subsidiaries; · “Itaú BBA” means Banco Itaú BBA S.A., together with its consolidated subsidiaries; · “Central Bank” means the
Central Bank of Brazil; Additionally, acronyms used repeatedly, defined and technical terms, specific market expressions and the full names of our main subsidiaries and other entities referenced in this report on Form 6-K are explained or detailed
in the glossary of terms beginning on page 212 to our annual report on Form 20-F for the year ended December 31, 2018 filed with the SEC on April 30, 2019, or our 2018 Form 20-F. 1
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This report on
Form 6-K contains statements that are or may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the United States Securities Act of 1933, as amended, or the
Securities Act, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, or the Exchange Act. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends
affecting our business. These forward-looking statements are subject to risks, uncertainties and assumptions including, among other risks: · General economic, political, and business conditions in Brazil and variations in inflation indexes,
interest rates, foreign exchange rates, and the performance of financial markets; · General economic and political conditions, in particular in the countries where we operate; · Government regulations and tax laws and amendments to such
regulations and laws; · Developments in high-profile investigations currently in progress and their impact on customers or on our tax exposures; · Disruptions and volatility in the global financial markets; · Increases in compulsory
deposits and reserve requirements; · Regulation and liquidation of our business on a consolidated basis; · Obstacles for holders of our shares and ADSs to receive dividends; · Failure or hacking of our security and operational
infrastructure or systems; · Our ability to protect personal data; · Strengthening of competition and industry consolidation; · Changes in our loan portfolio and changes in the value of our securities and derivatives; · Losses
associated with counterparty exposure; · Our exposure to the Brazilian public debt; · Incorrect pricing methodologies for insurance, pension plan and premium bond products and inadequate reserves; · The effectiveness of our risk
management policy; · Damage to our reputation; · The capacity of our controlling stockholder to conduct our business; · Difficulties during the integration of acquired or merged businesses; · Effects from socio-environmental
issues; and · Other risk factors as set forth in our 2018 Form 20-F. 2 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This report on Form 6-K contains statements that are or may constitute forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the United States Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, or the
Exchange Act. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting our business. These forward-looking statements are subject to risks, uncertainties
and assumptions including, among other risks: · General economic, political, and business conditions in Brazil and variations in inflation indexes, interest rates, foreign exchange rates, and the performance of financial markets; · General
economic and political conditions, in particular in the countries where we operate; · Government regulations and tax laws and amendments to such regulations and laws; · Developments in high-profile investigations currently in progress and
their impact on customers or on our tax exposures; · Disruptions and volatility in the global financial markets; · Increases in compulsory deposits and reserve requirements; · Regulation and liquidation of our business on a
consolidated basis; · Obstacles for holders of our shares and ADSs to receive dividends; · Failure or hacking of our security and operational infrastructure or systems; · Our ability to protect personal data; · Strengthening of
competition and industry consolidation; · Changes in our loan portfolio and changes in the value of our securities and derivatives; · Losses associated with counterparty exposure; · Our exposure to the Brazilian public debt; ·
Incorrect pricing methodologies for insurance, pension plan and premium bond products and inadequate reserves; · The effectiveness of our risk management policy; · Damage to our reputation; · The capacity of our controlling
stockholder to conduct our business; · Difficulties during the integration of acquired or merged businesses; · Effects from socio-environmental issues; and · Other risk factors as set forth in our 2018 Form 20-F. 2
The words “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “expect” and similar words are intended to identify forward-looking statements, but are not the exclusive means of identifying such
statements. We undertake no obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise. In light of these risks and uncertainties, the forward-looking information, events and
circumstances discussed in this Form 6-K might not occur. Our actual results and performance could differ substantially from those anticipated in such forward-looking statements. 3 The words “believe,” “may,”
“will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar words are intended to identify forward-looking statements, but are not the exclusive means of
identifying such statements. We undertake no obligation to update publicly or revise any forward-looking statements because of new information, future events or otherwise. In light of these risks and uncertainties, the forward-looking information,
events and circumstances discussed in this Form 6-K might not occur. Our actual results and performance could differ substantially from those anticipated in such forward-looking statements. 3
PRESENTATION OF FINANCIAL AND OTHER INFORMATION The information found in
this Form 6-K is accurate only as of the date of such information or as of the date of this Form 6-K, as applicable. Our activities, our financial position and assets, the results of transactions and our prospects may have changed since that date.
Information contained in or accessible through our website or any other websites referenced herein does not form part of this Form 6-K unless we specifically state that it is incorporated by reference and forms part of this Form 6-K. All references
in this Form 6-K to websites are inactive textual references and are for information only. Effect of Rounding Certain amounts and percentages included in this Form 6-K, including in the section of this Form 6-K entitled “Operating and
Financial Review and Prospects” have been rounded for ease of presentation. Percentage figures included in this Form 6-K have not been calculated in all cases on the basis of the rounded figures but on the basis of the original amounts prior
to rounding. For this reason, certain percentage amounts in this Form 6-K may vary from those obtained by performing the same calculations using the figures in our unaudited interim consolidated financial statements. Certain other amounts that
appear in this Form 6-K may not sum due to rounding. About our Financial Information The reference date for the quantitative information for balances found in this Form 6-K is as of March 31, 2019 and December 31, 2018 and the reference date for
results is the three-month periods ended March 31, 2019 and 2018, except where otherwise indicated. Our unaudited interim consolidated financial statements are prepared in accordance with IFRS, as issued by the IASB. Unless otherwise stated all
unaudited interim consolidated financial information related to the three-month periods ended March 31, 2019 and 2018 included in this Form 6-K was prepared in accordance with IFRS and are contained in this report on Form 6-K. Our unaudited interim
consolidated financial statements as of March 31, 2019 and December 31, 2018 and for the three-month periods ended March 31, 2019 and 2018 were reviewed by PricewaterhouseCoopers Auditores Independentes independent auditors. Such financial
statements are referred to herein as our unaudited interim consolidated financial statements. Please see “Note 30 – Segment Information” to our unaudited interim consolidated financial statements for further details about the main
differences between our management reporting systems and our unaudited interim consolidated financial statements prepared in accordance with IFRS. Transition to IFRS 16 We adopted IFRS 16 – “Leases” under the retrospective
transition method modified on January 1, 2019, using the following criteria: · unified discount rate, considering a portfolio of similar agreements; · calculation of lease liabilities and right-of-use assets at present value of remaining
payments; and · review of lease agreements and terms. New financial subleases have not been recorded. Please see “Note 2 – Significant Accounting Policies” to our unaudited interim consolidated financial statements for further
details about the significant accounting policies applied in the preparation of our unaudited interim consolidated financial statements in accordance with IFRS. 4 PRESENTATION OF FINANCIAL AND OTHER INFORMATION The information found in this Form 6-K
is accurate only as of the date of such information or as of the date of this Form 6-K, as applicable. Our activities, our financial position and assets, the results of transactions and our prospects may have changed since that date. Information
contained in or accessible through our website or any other websites referenced herein does not form part of this Form 6-K unless we specifically state that it is incorporated by reference and forms part of this Form 6-K. All references in this Form
6-K to websites are inactive textual references and are for information only. Effect of Rounding Certain amounts and percentages included in this Form 6-K, including in the section of this Form 6-K entitled “Operating and Financial Review and
Prospects” have been rounded for ease of presentation. Percentage figures included in this Form 6-K have not been calculated in all cases on the basis of the rounded figures but on the basis of the original amounts prior to rounding. For this
reason, certain percentage amounts in this Form 6-K may vary from those obtained by performing the same calculations using the figures in our unaudited interim consolidated financial statements. Certain other amounts that appear in this Form 6-K may
not sum due to rounding. About our Financial Information The reference date for the quantitative information for balances found in this Form 6-K is as of March 31, 2019 and December 31, 2018 and the reference date for results is the three-month
periods ended March 31, 2019 and 2018, except where otherwise indicated. Our unaudited interim consolidated financial statements are prepared in accordance with IFRS, as issued by the IASB. Unless otherwise stated all unaudited interim consolidated
financial information related to the three-month periods ended March 31, 2019 and 2018 included in this Form 6-K was prepared in accordance with IFRS and are contained in this report on Form 6-K. Our unaudited interim consolidated financial
statements as of March 31, 2019 and December 31, 2018 and for the three-month periods ended March 31, 2019 and 2018 were reviewed by PricewaterhouseCoopers Auditores Independentes independent auditors. Such financial statements are referred to
herein as our unaudited interim consolidated financial statements. Please see “Note 30 – Segment Information” to our unaudited interim consolidated financial statements for further details about the main differences between our
management reporting systems and our unaudited interim consolidated financial statements prepared in accordance with IFRS. Transition to IFRS 16 We adopted IFRS 16 – “Leases” under the retrospective transition method modified on
January 1, 2019, using the following criteria: · unified discount rate, considering a portfolio of similar agreements; · calculation of lease liabilities and right-of-use assets at present value of remaining payments; and · review of
lease agreements and terms. New financial subleases have not been recorded. Please see “Note 2 – Significant Accounting Policies” to our unaudited interim consolidated financial statements for further details about the significant
accounting policies applied in the preparation of our unaudited interim consolidated financial statements in accordance with IFRS. 4
SELECTED FINANCIAL DATA We present below our selected financial data
derived from our unaudited interim consolidated financial statements included at the end of this current report. Our unaudited interim consolidated financial statements are presented as of March 31, 2019 and December 31, 2018 and for the three-month
periods ended March 31, 2019 and 2018, have been prepared in accordance with IFRS as issued by IASB. Additionally, we present a summarized version of our Consolidated Statement of Income, Balance Sheet and Statement of Cash Flows in the section
“Operating and Financial Review and Prospects.” The following selected financial data should be read together with “Presentation of Financial and Other Information” and “Operating and Financial Review and
Prospects.” Three-Month Period Ended March 31, Variation Income Information 2019 2018 % (In millions of R$) Banking product 2 8,296 27,409 3.2% (1) 1 5,610 1 5,949 (2.1)% Net interest income Adjustments to fair value of financial assets
and liabilities 1,583 1,201 31.8% Foreign exchange results and exchange variations on transactions 303 ( 145) (309.0)% (2) 1 0,800 1 0,404 3.8% Non-interest income Expected loss from financial assets and claims ( 3,681) ( 3,377) 9.0% Net banking
product of expected losses from financial assets and claims 24,615 2 4,032 2.4% Other operating income (expenses) (15,077) ( 14,469) 4.2% Current and deferred income and social contribution taxes ( 2,635) ( 3,006) (12.3)% Net income 6 ,903 6 ,557
5.3% (1) Includes interest and similar income of financial assets at amortized cost and fair value through other comprehensive income; interest, similar income and dividends of financial assets at fair value through profit or loss; and interest and
similar expenses. (2) Includes banking services fees, income related to insurance and private pension operations before claims and selling expenses and other income. As of March 31, As of December 31, Variation Balance Sheet Information 2019 2018 %
(In millions of R$) Total assets 1,545,971 1,552,797 (0.4)% Loan operations and lease operations portfolio 547,172 536,091 2.1% (-) Provision for expected loss (33,286) (33,373) (0.3)% (1) (1.3)p.p. Tier I capital - BIS III - in % 14.6% 15.9% (1)
(1.6)p.p. Common equity tier I - BIS III - in % 13.3% 14.9% (1) Includes impacts from schedule anticipation of deductions and does not consider the additional dividend and interest on own capital. Three-Month Period Ended March 31, Variation Share
Information 2019 2018 % Earning per share - basic - R$ 0 .69 0 .66 4.5% Weighted average number of outstanding shares - basic 9,728,586,278 9 ,714,380,920 0.1% Three-Month Period Ended March 31, Variation Other Information 2019 2018 % Total number
of employees 99,661 99,618 0.0% Branches and CSBs – client service branches 4 ,934 4 ,976 (0.8)% (1) 4 7,953 47,086 1.8% ATM – automated teller machines (1) Includes ESBs (electronic service branches) and service points at third party
locations and Banco24Horas ATMs. 5 SELECTED FINANCIAL DATA We present below our selected financial data derived from our unaudited interim consolidated financial statements included at the end of this current report. Our unaudited interim
consolidated financial statements are presented as of March 31, 2019 and December 31, 2018 and for the three-month periods ended March 31, 2019 and 2018, have been prepared in accordance with IFRS as issued by IASB. Additionally, we present a
summarized version of our Consolidated Statement of Income, Balance Sheet and Statement of Cash Flows in the section “Operating and Financial Review and Prospects.” The following selected financial data should be read together with
“Presentation of Financial and Other Information” and “Operating and Financial Review and Prospects.” Three-Month Period Ended March 31, Variation Income Information 2019 2018 % (In millions of R$) Banking product 2 8,296
27,409 3.2% (1) 1 5,610 1 5,949 (2.1)% Net interest income Adjustments to fair value of financial assets and liabilities 1,583 1,201 31.8% Foreign exchange results and exchange variations on transactions 303 ( 145) (309.0)% (2) 1 0,800 1 0,404 3.8%
Non-interest income Expected loss from financial assets and claims ( 3,681) ( 3,377) 9.0% Net banking product of expected losses from financial assets and claims 24,615 2 4,032 2.4% Other operating income (expenses) (15,077) ( 14,469) 4.2% Current
and deferred income and social contribution taxes ( 2,635) ( 3,006) (12.3)% Net income 6 ,903 6 ,557 5.3% (1) Includes interest and similar income of financial assets at amortized cost and fair value through other comprehensive income; interest,
similar income and dividends of financial assets at fair value through profit or loss; and interest and similar expenses. (2) Includes banking services fees, income related to insurance and private pension operations before claims and selling
expenses and other income. As of March 31, As of December 31, Variation Balance Sheet Information 2019 2018 % (In millions of R$) Total assets 1,545,971 1,552,797 (0.4)% Loan operations and lease operations portfolio 547,172 536,091 2.1% (-)
Provision for expected loss (33,286) (33,373) (0.3)% (1) (1.3)p.p. Tier I capital - BIS III - in % 14.6% 15.9% (1) (1.6)p.p. Common equity tier I - BIS III - in % 13.3% 14.9% (1) Includes impacts from schedule anticipation of deductions and does not
consider the additional dividend and interest on own capital. Three-Month Period Ended March 31, Variation Share Information 2019 2018 % Earning per share - basic - R$ 0 .69 0 .66 4.5% Weighted average number of outstanding shares - basic
9,728,586,278 9 ,714,380,920 0.1% Three-Month Period Ended March 31, Variation Other Information 2019 2018 % Total number of employees 99,661 99,618 0.0% Branches and CSBs – client service branches 4 ,934 4 ,976 (0.8)% (1) 4 7,953 47,086 1.8%
ATM – automated teller machines (1) Includes ESBs (electronic service branches) and service points at third party locations and Banco24Horas ATMs. 5
OPERATING AND FINANCIAL REVIEW AND PROSPECTS The following discussion
should be read in conjunction with our unaudited interim consolidated financial statements and accompanying notes and other financial information included elsewhere in this Form 6-K and the description of our business in “Item 4. Information
on the Company” in our 2018 Form 20-F. The following discussion contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from these discussed in forward-looking statements as a result
of various factors, including those set in forth in “Forward-Looking Statements” herein and in our 2018 Form 20-F. A. Operating Results Financial Results Review The table set forth below presents our summarized Consolidated Statement of
Income for the three-month periods ended March 31, 2019 and 2018. The interest rates cited are expressed in Brazilian reais and include the effect of the variation in the real against foreign currencies. For more information on our banking product
offerings, see “Item 4. Information on the Company” in our 2018 Form 20-F. Three-Month Period Ended March 31, Variation Summarized Consolidated Statement of Income 2019 2018 R$ million % (In millions of R$) Banking product 2 8,296 2
7,409 887 3.2 (1) 1 5,610 1 5,949 ( 339) ( 2.1) Net interest income Adjustments to fair value of financial assets and liabilities 1 ,583 1 ,201 382 3 1.8 Foreign exchange results and exchange variations on transactions 303 (145) 448 (309.0) (2)
1 0,800 1 0,404 396 3 .8 Non-interest income Expected Loss from Financial Assets and Claims ( 3,681) (3,377) (304) 9 .0 Other operating income (expenses) ( 15,077) (14,469) (608) 4.2 Income before current and deferred income tax and social
contribution 9 ,538 9 ,563 (25) (0.3) Current and deferred income and social contribution taxes ( 2,635) ( 3,006) 371 ( 12.3) Net income 6,903 6 ,557 346 5 .3 Net income attributable to owners of the parent company 6,747 6,389 358 5 .6 (1) Includes
interest and similar income of financial assets at amortized cost and fair value through other comprehensive income; interest, similar income and dividends of financial assets at fair value through profit or loss; and interest and similar expenses.
(2) Includes banking services fees, income related to insurance and private pension operations before claims and selling expenses and other income. Please see our unaudited interim consolidated financial statements for further details about our
Consolidated Statement of Income. Our net income (attributable to the owners of the parent company) increased by 5.6% in the three-month period ended March 31, 2019, compared to the same period in 2018, mainly due to an increase of 3.2% in our
“banking product” line item and a decrease of 12.3% in current and deferred income and social contribution taxes. This result was partially offset by increases in expected loss from financial assets and claims and other operating income
(expenses) of 9.0% and 4.2%, respectively, as further described below: • Net interest income decreased by 2.1% in the three-month period ended March 31, 2019, compared to the same period in 2018. This result was mainly due to an increase of
14.0% in interest and similar expense mainly driven by an increase in time deposits. This increase is a consequence of the partial migration of funds derived from repurchase agreements backed by debentures to time deposits. This result was partially
offset by an increase of 6.8% in interest and similar income of financial assets at amortized cost and at fair value through other comprehensive income, mainly due to a change in the mix of products and segments with higher spreads (such as consumer
credit and very small, small and middle market companies) in our loan portfolio, partially offset by lower returns from our structured operation products in the three-month period ended March 31, 2019 and a reduction in the spread for certain
products, such as working capital, personal loans and payroll loans. Please see “Note 21 – Interest and Similar Income and Expense and Net Gain (Loss) on Investment Securities and Derivatives” to our unaudited interim consolidated
financial statements for further details 6 OPERATING AND FINANCIAL REVIEW AND PROSPECTS The following discussion should be read in conjunction with our unaudited interim consolidated financial statements and accompanying notes and other financial
information included elsewhere in this Form 6-K and the description of our business in “Item 4. Information on the Company” in our 2018 Form 20-F. The following discussion contains forward-looking statements that involve risks and
uncertainties. Our actual results may differ materially from these discussed in forward-looking statements as a result of various factors, including those set in forth in “Forward-Looking Statements” herein and in our 2018 Form 20-F. A.
Operating Results Financial Results Review The table set forth below presents our summarized Consolidated Statement of Income for the three-month periods ended March 31, 2019 and 2018. The interest rates cited are expressed in Brazilian reais and
include the effect of the variation in the real against foreign currencies. For more information on our banking product offerings, see “Item 4. Information on the Company” in our 2018 Form 20-F. Three-Month Period Ended March 31,
Variation Summarized Consolidated Statement of Income 2019 2018 R$ million % (In millions of R$) Banking product 2 8,296 2 7,409 887 3.2 (1) 1 5,610 1 5,949 ( 339) ( 2.1) Net interest income Adjustments to fair value of financial assets and
liabilities 1 ,583 1 ,201 382 3 1.8 Foreign exchange results and exchange variations on transactions 303 (145) 448 (309.0) (2) 1 0,800 1 0,404 396 3 .8 Non-interest income Expected Loss from Financial Assets and Claims ( 3,681) (3,377) (304) 9 .0
Other operating income (expenses) ( 15,077) (14,469) (608) 4.2 Income before current and deferred income tax and social contribution 9 ,538 9 ,563 (25) (0.3) Current and deferred income and social contribution taxes ( 2,635) ( 3,006) 371 ( 12.3) Net
income 6,903 6 ,557 346 5 .3 Net income attributable to owners of the parent company 6,747 6,389 358 5 .6 (1) Includes interest and similar income of financial assets at amortized cost and fair value through other comprehensive income; interest,
similar income and dividends of financial assets at fair value through profit or loss; and interest and similar expenses. (2) Includes banking services fees, income related to insurance and private pension operations before claims and selling
expenses and other income. Please see our unaudited interim consolidated financial statements for further details about our Consolidated Statement of Income. Our net income (attributable to the owners of the parent company) increased by 5.6% in the
three-month period ended March 31, 2019, compared to the same period in 2018, mainly due to an increase of 3.2% in our “banking product” line item and a decrease of 12.3% in current and deferred income and social contribution taxes. This
result was partially offset by increases in expected loss from financial assets and claims and other operating income (expenses) of 9.0% and 4.2%, respectively, as further described below: • Net interest income decreased by 2.1% in the
three-month period ended March 31, 2019, compared to the same period in 2018. This result was mainly due to an increase of 14.0% in interest and similar expense mainly driven by an increase in time deposits. This increase is a consequence of the
partial migration of funds derived from repurchase agreements backed by debentures to time deposits. This result was partially offset by an increase of 6.8% in interest and similar income of financial assets at amortized cost and at fair value
through other comprehensive income, mainly due to a change in the mix of products and segments with higher spreads (such as consumer credit and very small, small and middle market companies) in our loan portfolio, partially offset by lower returns
from our structured operation products in the three-month period ended March 31, 2019 and a reduction in the spread for certain products, such as working capital, personal loans and payroll loans. Please see “Note 21 – Interest and
Similar Income and Expense and Net Gain (Loss) on Investment Securities and Derivatives” to our unaudited interim consolidated financial statements for further details 6
on Net interest income. • Adjustments to fair value of financial
assets and liabilities increased by 31.8% in the three-month period ended March 31, 2019, when compared to the same period in 2018. This increase was mainly due to a reduction in the fixed rate curve of Brazilian treasury bonds, leading to an
increase in the mark-to- market of our portfolio of Brazilian government securities. Please see “Note 21 – Interest and Similar Income and Expense and Net Gain (Loss) on Investment Securities and Derivatives” to our unaudited
interim consolidated financial statements for further details on Adjustments to Fair Value of Financial Assets and Liabilities. • Foreign exchange results and exchange variation on transactions amounted to a gain of R$303 million in the
three-month period ended March 31, 2019, compared to a loss of R$145 million in the same period in 2018, mainly due to the effect of exchange rate variations during the period, principally resulting from the Brazilian real depreciating 17.2% against
the U.S. dollar during the three-month period ended March 31, 2019 compared to a 0.6% depreciation of the Brazilian real against the U.S. dollar during the same period in 2018. • Non-interest income increased by 3.8% in the three-month period
ended March 31, 2019, compared to the same period in 2018. This change reflected the fact that banking service fees increased by 2.7% in the three-month period ended March 31, 2019 compared to the same period in 2018, driven by: (i) increases in
asset management fees (13.5% in the three-month period ended March 31, 2019 compared to same period in 2018) due to the increase of 12.9% in assets under administration in the three-month period ended March 31, 2019 compared to the same period in
2018; and (ii) fees from credit and debit card services, which increased by 3.0% in the three-month period ended March 31, 2019 compared to the same period in 2018, mainly driven by higher interchange revenues resulting from an increase in the
volume of transactions and revenues from credit and debit card annuity fees. The following chart shows the main components of our banking service fees for the three-month periods ended March 31, 2019 and 2018: In R$ million 9,139 8 ,897 153 158 369
357 412 443 593 603 1,317 1,160 2,481 2,474 3,814 3,702 1Q19 1Q18 Brokerage commission Collection commissions Fees for guarantees issued and credit lines Please see “Note 22 – Banking Service Fees” to our unaudited interim
consolidated financial statements for further details on banking service fees. • Expected Loss from Financial Assets and Claims increased 9.0% in the three-month period ended 7 on Net interest income. • Adjustments to fair value of
financial assets and liabilities increased by 31.8% in the three-month period ended March 31, 2019, when compared to the same period in 2018. This increase was mainly due to a reduction in the fixed rate curve of Brazilian treasury bonds, leading to
an increase in the mark-to- market of our portfolio of Brazilian government securities. Please see “Note 21 – Interest and Similar Income and Expense and Net Gain (Loss) on Investment Securities and Derivatives” to our unaudited
interim consolidated financial statements for further details on Adjustments to Fair Value of Financial Assets and Liabilities. • Foreign exchange results and exchange variation on transactions amounted to a gain of R$303 million in the
three-month period ended March 31, 2019, compared to a loss of R$145 million in the same period in 2018, mainly due to the effect of exchange rate variations during the period, principally resulting from the Brazilian real depreciating 17.2% against
the U.S. dollar during the three-month period ended March 31, 2019 compared to a 0.6% depreciation of the Brazilian real against the U.S. dollar during the same period in 2018. • Non-interest income increased by 3.8% in the three-month period
ended March 31, 2019, compared to the same period in 2018. This change reflected the fact that banking service fees increased by 2.7% in the three-month period ended March 31, 2019 compared to the same period in 2018, driven by: (i) increases in
asset management fees (13.5% in the three-month period ended March 31, 2019 compared to same period in 2018) due to the increase of 12.9% in assets under administration in the three-month period ended March 31, 2019 compared to the same period in
2018; and (ii) fees from credit and debit card services, which increased by 3.0% in the three-month period ended March 31, 2019 compared to the same period in 2018, mainly driven by higher interchange revenues resulting from an increase in the
volume of transactions and revenues from credit and debit card annuity fees. The following chart shows the main components of our banking service fees for the three-month periods ended March 31, 2019 and 2018: In R$ million 9,139 8 ,897 153 158 369
357 412 443 593 603 1,317 1,160 2,481 2,474 3,814 3,702 1Q19 1Q18 Brokerage commission Collection commissions Fees for guarantees issued and credit lines Please see “Note 22 – Banking Service Fees” to our unaudited interim
consolidated financial statements for further details on banking service fees. • Expected Loss from Financial Assets and Claims increased 9.0% in the three-month period ended 7
March 31, 2019 compared to the same period in 2018. The main drivers of
this increase were an increase in provisions for loan losses mainly due to the change in the mix of products with higher spreads in Retail Banking segment in Brazil. This result was partially offset by a decrease in provisions for loan losses and
impairment charges on our portfolio of corporate securities in our Wholesale Banking segment in Brazil. Please see “Note 10 — Loan operations and lease operations portfolio” to our unaudited interim consolidated financial
statements for further details on our loan and lease operations portfolio. • Other Operating Income (Expenses) increased 4.2% in the three-month period ended March 31, 2019, compared to the same period of 2018. The main driver of this increase
was personnel expenses which increased 4.6% in the three-month period ended March 31, 2019, compared to the same period of 2018, mainly due to the impact of the 2018 collective bargaining agreement entered into on September 1, 2018 (which resulted
in a 5% wage increase for bank employees). We also incurred higher expenses in our operations in Latin America (ex-Brazil), as a result of the 17.2% depreciation of the Brazilian real compared to the U.S. dollar during the three-month period ended
March 31, 2019. This result was partially offset by a decrease of 3.0% in administrative expenses, mainly due to lower expenses with our line item “installations”, which decreased by R$313 million, or 39.7%, reaching R$476 million in the
three-month period ended March 31, 2019, compared to the same period of 2018. In the three-month period ended March 31, 2019, other operating expenses increased below inflation (4.6% - IPCA). Please see “Note 23—General and
administrative expenses” to our consolidated unaudited interim financial statements for further details. • Current and deferred income and social contribution taxes decreased by 12.3% in the three-month period ended March 31, 2019,
compared to the same period in 2018, mainly due to the recognition of deferred tax assets at a rate of 40%. In the first quarter of 2018 the recognition rate was 45%, in line with legislation which temporarily increased our effective tax rate.
Please see “Note 24 – Taxes” to our unaudited interim consolidated financial statements for further details. Basis for Presentation of Segment Information We maintain segment information based on reports used by senior management
to assess the financial performance of our businesses and to make decisions regarding the allocation of funds for investment and other purposes. Segment information is not prepared in accordance with IFRS, but according to the accounting practices
adopted in Brazil as established by the Central Bank. It includes the following pro forma adjustments: (i) the recognition of the impact of capital allocation using a proprietary model; (ii) the use of funding and cost of capital at market prices,
using certain managerial criteria; (iii) the exclusion of non-recurring events from our results; and (iv) the reclassification of the tax effects from hedging transactions we enter into for our investments abroad. For more information on our
segments, see “Item 4. Information on the Company” in our 2018 Form 20-F and “Note 30 – Segment information” to our unaudited interim consolidated financial statements. We present below the summarized results from our
operating segments from January 1, 2019 to March 31, 2019: 8 March 31, 2019 compared to the same period in 2018. The main drivers of this increase were an increase in provisions for loan losses mainly due to the change in the mix of products with
higher spreads in Retail Banking segment in Brazil. This result was partially offset by a decrease in provisions for loan losses and impairment charges on our portfolio of corporate securities in our Wholesale Banking segment in Brazil. Please see
“Note 10 — Loan operations and lease operations portfolio” to our unaudited interim consolidated financial statements for further details on our loan and lease operations portfolio. • Other Operating Income (Expenses)
increased 4.2% in the three-month period ended March 31, 2019, compared to the same period of 2018. The main driver of this increase was personnel expenses which increased 4.6% in the three-month period ended March 31, 2019, compared to the same
period of 2018, mainly due to the impact of the 2018 collective bargaining agreement entered into on September 1, 2018 (which resulted in a 5% wage increase for bank employees). We also incurred higher expenses in our operations in Latin America
(ex-Brazil), as a result of the 17.2% depreciation of the Brazilian real compared to the U.S. dollar during the three-month period ended March 31, 2019. This result was partially offset by a decrease of 3.0% in administrative expenses, mainly due to
lower expenses with our line item “installations”, which decreased by R$313 million, or 39.7%, reaching R$476 million in the three-month period ended March 31, 2019, compared to the same period of 2018. In the three-month period ended
March 31, 2019, other operating expenses increased below inflation (4.6% - IPCA). Please see “Note 23—General and administrative expenses” to our consolidated unaudited interim financial statements for further details. •
Current and deferred income and social contribution taxes decreased by 12.3% in the three-month period ended March 31, 2019, compared to the same period in 2018, mainly due to the recognition of deferred tax assets at a rate of 40%. In the first
quarter of 2018 the recognition rate was 45%, in line with legislation which temporarily increased our effective tax rate. Please see “Note 24 – Taxes” to our unaudited interim consolidated financial statements for further details.
Basis for Presentation of Segment Information We maintain segment information based on reports used by senior management to assess the financial performance of our businesses and to make decisions regarding the allocation of funds for investment and
other purposes. Segment information is not prepared in accordance with IFRS, but according to the accounting practices adopted in Brazil as established by the Central Bank. It includes the following pro forma adjustments: (i) the recognition of the
impact of capital allocation using a proprietary model; (ii) the use of funding and cost of capital at market prices, using certain managerial criteria; (iii) the exclusion of non-recurring events from our results; and (iv) the reclassification of
the tax effects from hedging transactions we enter into for our investments abroad. For more information on our segments, see “Item 4. Information on the Company” in our 2018 Form 20-F and “Note 30 – Segment
information” to our unaudited interim consolidated financial statements. We present below the summarized results from our operating segments from January 1, 2019 to March 31, 2019: 8
Activities with the Retail Wholesale Summarized Consolidated Statement of
Income Market + Total Banking Banking Adjustments IFRS consolidated from January 1 to March 31, 2019* Corporation (a)+(b)+(c) (a) (b) (c) (In millions of R$) Banking product 1 8,570 7,113 2,525 2 8,208 88 28,296 Cost of credit ( 3,665) ( 139) -
(3,804) 453 ( 3,351) Claims ( 288) (11) - (299) (31) (330) Other operating income (expenses) (9,902) ( 3,653) (287) (13,842) (1,235) (15,077) Income tax and social contribution ( 1,586) ( 937) (665) (3,188) 553 ( 2,635) Non-controlling interest in
subsidiaries (54) (135) (9) (198) 42 ( 156) Net income 3,075 2,238 1,564 6,877 ( 130) 6 ,747 (*) The first three columns are our business segments. Additional information about each of our business segments can be found below under the headings (a)
Retail Banking , (b) Wholesale Banking and (c) Activities with the Market and Corporation . The adjustments column includes the following pro forma adjustments: (i) the recognition of the impact of capital allocation using a proprietary model; (ii)
the use of funding and cost of capital at market prices, using certain managerial criteria; (iii) the exclusion of non-recurring events from our results; and (iv) the reclassification of the tax effects from hedging transactions we enter into for
our investments abroad. The IFRS consolidated column is the total result of our three segments plus adjustments. The following discussion should be read in conjunction with our unaudited interim consolidated financial statements, especially
“Note 30 – Segment information.” The adjustments column shown in this note shows the effects of the differences between the segmented results (substantially in accordance with the accounting practices adopted in Brazil) and those
calculated according to the principles adopted in our unaudited interim consolidated financial statements in IFRS. (a) Retail Banking The result from this segment is derived from the banking products and services provided to a diversified customer
base of account holders and non-account holders, individuals and companies in Brazil. It includes retail customers, high-income customers (Itaú Uniclass and Personnalité), and very small and small companies. It also consists of financing
and lending activities at units other than the branch network and credit cards, in addition to transactions with Banco Itaú Consignado S.A. The following table shows the summarized Consolidated Statement of Income with respect to our Retail
Banking segment for the three-month periods ended March 31, 2019 and 2018: Three-Month Period Ended March 31, Variation Summarized Consolidated Statement of Income - Retail banking 2019 2018 R$ million % (In millions of R$) Banking product 18,570 1
7,692 878 5 .0 Cost of credit and claims (3,953) (3,040) (913) 30.0 Other operating income (expenses) (9,902) ( 9,513) (389) 4.1 Income tax and social contribution ( 1,586) (1,922) 336 ( 17.5) Non-controlling interest in subsidiaries (54) (44) ( 10)
2 2.7 Net income 3,075 3,173 (98) (3.1) Our net income in Retail Banking decreased by 3.1% from the three-month period ended March 31, 2018 to the same period in 2019. These results are explained as follows: · Banking product increased by 5.0%
in the three-month period ended March 31, 2019 compared to the same period of 2018 mainly due to a change in the mix of the products and segments with higher spreads (such as consumer credit and very small, small and middle market companies) in our
loan portfolio, partially offset by a reduction in the spread for certain products, such as personal loans and payroll loans. 9 Activities with the Retail Wholesale Summarized Consolidated Statement of Income Market + Total Banking Banking
Adjustments IFRS consolidated from January 1 to March 31, 2019* Corporation (a)+(b)+(c) (a) (b) (c) (In millions of R$) Banking product 1 8,570 7,113 2,525 2 8,208 88 28,296 Cost of credit ( 3,665) ( 139) - (3,804) 453 ( 3,351) Claims ( 288) (11) -
(299) (31) (330) Other operating income (expenses) (9,902) ( 3,653) (287) (13,842) (1,235) (15,077) Income tax and social contribution ( 1,586) ( 937) (665) (3,188) 553 ( 2,635) Non-controlling interest in subsidiaries (54) (135) (9) (198) 42 ( 156)
Net income 3,075 2,238 1,564 6,877 ( 130) 6 ,747 (*) The first three columns are our business segments. Additional information about each of our business segments can be found below under the headings (a) Retail Banking , (b) Wholesale Banking and
(c) Activities with the Market and Corporation . The adjustments column includes the following pro forma adjustments: (i) the recognition of the impact of capital allocation using a proprietary model; (ii) the use of funding and cost of capital at
market prices, using certain managerial criteria; (iii) the exclusion of non-recurring events from our results; and (iv) the reclassification of the tax effects from hedging transactions we enter into for our investments abroad. The IFRS
consolidated column is the total result of our three segments plus adjustments. The following discussion should be read in conjunction with our unaudited interim consolidated financial statements, especially “Note 30 – Segment
information.” The adjustments column shown in this note shows the effects of the differences between the segmented results (substantially in accordance with the accounting practices adopted in Brazil) and those calculated according to the
principles adopted in our unaudited interim consolidated financial statements in IFRS. (a) Retail Banking The result from this segment is derived from the banking products and services provided to a diversified customer base of account holders and
non-account holders, individuals and companies in Brazil. It includes retail customers, high-income customers (Itaú Uniclass and Personnalité), and very small and small companies. It also consists of financing and lending activities at
units other than the branch network and credit cards, in addition to transactions with Banco Itaú Consignado S.A. The following table shows the summarized Consolidated Statement of Income with respect to our Retail Banking segment for the
three-month periods ended March 31, 2019 and 2018: Three-Month Period Ended March 31, Variation Summarized Consolidated Statement of Income - Retail banking 2019 2018 R$ million % (In millions of R$) Banking product 18,570 1 7,692 878 5 .0 Cost of
credit and claims (3,953) (3,040) (913) 30.0 Other operating income (expenses) (9,902) ( 9,513) (389) 4.1 Income tax and social contribution ( 1,586) (1,922) 336 ( 17.5) Non-controlling interest in subsidiaries (54) (44) ( 10) 2 2.7 Net income 3,075
3,173 (98) (3.1) Our net income in Retail Banking decreased by 3.1% from the three-month period ended March 31, 2018 to the same period in 2019. These results are explained as follows: · Banking product increased by 5.0% in the three-month
period ended March 31, 2019 compared to the same period of 2018 mainly due to a change in the mix of the products and segments with higher spreads (such as consumer credit and very small, small and middle market companies) in our loan portfolio,
partially offset by a reduction in the spread for certain products, such as personal loans and payroll loans. 9
· Cost of credit and claims increased by 30.0% in the three-month
period ended March 31, 2019 due to an increase in the provision for loan losses mainly due to the change in the mix of products with higher spreads. · Other operating income (expenses) increased by 4.1% in the three-month period ended March 31,
2019, compared to the same period of 2018. The main driver of this increase was personnel expenses due to the impact of the 2018 collective bargaining agreement. This result was partially offset by a decrease in administrative expenses, mainly due
to lower expenses with our line item “installations”, which decreased by R$313 million, or 39.7%, reaching R$476 million in the three-month period ended March 31, 2019. · Income tax and social contribution for this segment, as well
as for the Wholesale Banking and Activities with the Market and Corporation segments is calculated by adopting the full income tax rate, net of the tax effect of payment of interest on capital. The difference between the income tax amount determined
for each segment and the effective income tax amount, as stated in our unaudited interim consolidated financial statements, is allocated to the Activities with the Market and Corporation segment. As discussed above, our current and deferred income
and social contribution taxes decreased in the three-month period ended March 31, 2019, compared to the same period in 2018, mainly due to the recognition of deferred tax assets at a rate of 40%. In the first quarter of 2018 the recognition rate was
45%, in line with legislation which temporarily increased our effective tax rate. (b) Wholesale Banking The result of this segment is derived from the products and services offered to middle-market companies, private banking clients, the activities
of the Latin American units (excluding Brazil), including those of Itaú CorpBanca as of the second quarter of 2016 following the merger between Banco Itaú Chile and CorpBanca, and the activities of Itaú BBA, the unit in charge of
commercial operations with large companies, in addition to operating as an investment banking unit. The following table sets out the summarized Consolidated Statement of Income with respect to our Wholesale Banking segment for the three-month
periods ended March 31, 2019 and 2018: Three-Month Period Ended March 31, Variation Summarized Consolidated Statement of Income - Wholesale banking 2019 2018 R$ million % (In millions of R$) Banking product 7,113 6,821 292 4.3 Cost of credit and
claims (150) ( 1,026) 876 ( 85.4) Other operating income (expenses) (3,653) (3,656) 3 (0.1) Income tax and social contribution (937) ( 589) ( 348) 5 9.1 Non-controlling interest in subsidiaries (135) ( 43) ( 92) 2 14.0 Net income 2,238 1,507 731
48.5 Our net income in Wholesale Banking increased by 48.5% from the three-month period ended March 31, 2018 to the same period of 2019. These results are explained as follows: • Banking product increased 4.3% in the period, mainly due to
higher revenues from our asset management services, related to higher balances and higher performance fee from managed portfolios and investment funds. • Cost of credit and claims decreased 85.4% in the period, mainly due to a decrease of
R$697 million in provisions for loan losses and of R$157 million in impairment charges on our portfolio of corporate securities in this segment. • Income tax and social contribution for this segment, as well for the Retail Banking and
Activities with the Market and Corporation segments is calculated by adopting the full income tax rate, net of the tax effect of payment of interest on capital. The difference between the income tax amount determined for each segment and the
effective income tax amount, as stated in our unaudited interim consolidated financial 10 · Cost of credit and claims increased by 30.0% in the three-month period ended March 31, 2019 due to an increase in the provision for loan losses mainly
due to the change in the mix of products with higher spreads. · Other operating income (expenses) increased by 4.1% in the three-month period ended March 31, 2019, compared to the same period of 2018. The main driver of this increase was
personnel expenses due to the impact of the 2018 collective bargaining agreement. This result was partially offset by a decrease in administrative expenses, mainly due to lower expenses with our line item “installations”, which decreased
by R$313 million, or 39.7%, reaching R$476 million in the three-month period ended March 31, 2019. · Income tax and social contribution for this segment, as well as for the Wholesale Banking and Activities with the Market and Corporation
segments is calculated by adopting the full income tax rate, net of the tax effect of payment of interest on capital. The difference between the income tax amount determined for each segment and the effective income tax amount, as stated in our
unaudited interim consolidated financial statements, is allocated to the Activities with the Market and Corporation segment. As discussed above, our current and deferred income and social contribution taxes decreased in the three-month period ended
March 31, 2019, compared to the same period in 2018, mainly due to the recognition of deferred tax assets at a rate of 40%. In the first quarter of 2018 the recognition rate was 45%, in line with legislation which temporarily increased our effective
tax rate. (b) Wholesale Banking The result of this segment is derived from the products and services offered to middle-market companies, private banking clients, the activities of the Latin American units (excluding Brazil), including those of
Itaú CorpBanca as of the second quarter of 2016 following the merger between Banco Itaú Chile and CorpBanca, and the activities of Itaú BBA, the unit in charge of commercial operations with large companies, in addition to operating as
an investment banking unit. The following table sets out the summarized Consolidated Statement of Income with respect to our Wholesale Banking segment for the three-month periods ended March 31, 2019 and 2018: Three-Month Period Ended March 31,
Variation Summarized Consolidated Statement of Income - Wholesale banking 2019 2018 R$ million % (In millions of R$) Banking product 7,113 6,821 292 4.3 Cost of credit and claims (150) ( 1,026) 876 ( 85.4) Other operating income (expenses) (3,653)
(3,656) 3 (0.1) Income tax and social contribution (937) ( 589) ( 348) 5 9.1 Non-controlling interest in subsidiaries (135) ( 43) ( 92) 2 14.0 Net income 2,238 1,507 731 48.5 Our net income in Wholesale Banking increased by 48.5% from the
three-month period ended March 31, 2018 to the same period of 2019. These results are explained as follows: • Banking product increased 4.3% in the period, mainly due to higher revenues from our asset management services, related to higher
balances and higher performance fee from managed portfolios and investment funds. • Cost of credit and claims decreased 85.4% in the period, mainly due to a decrease of R$697 million in provisions for loan losses and of R$157 million in
impairment charges on our portfolio of corporate securities in this segment. • Income tax and social contribution for this segment, as well for the Retail Banking and Activities with the Market and Corporation segments is calculated by
adopting the full income tax rate, net of the tax effect of payment of interest on capital. The difference between the income tax amount determined for each segment and the effective income tax amount, as stated in our unaudited interim consolidated
financial 10
statements, is allocated in the column Activities with the Market and
Corporation. As discussed above, our current and deferred income and social contribution taxes decreased in the three-month period ended March 31, 2019, compared to the same period in 2018, mainly due to the recognition of deferred tax assets at a
rate of 40%. In the first quarter of 2018 the recognition rate was 45%, in line with legislation which temporarily increased our effective tax rate. (c) Activities with the Market and Corporation This segment includes the results from investing our
surplus capital, the costs of our surplus subordinated debt and the net balance of tax assets and liabilities, including: (i) treasury banking, that manages mismatches of assets and liabilities (ALM—Asset and Liability Management), terms, and
interest, foreign exchange and other rates; (ii) treasury trading, that manages proprietary portfolios and may assume guiding positions, in compliance with the limits established by our risk appetite; and (iii) the costs of treasury operations and
equity pick-up from companies not linked to any segments, as well as adjustments related to minority shareholdings in subsidiaries and our equity interest in Porto Seguro S.A. The following table shows the summarized Consolidated Statement of Income
with respect to our Activities with the Market and Corporation segment for the three-month periods ended March 31, 2019 and 2018: Three-Month Period Ended March 31, Variation Summarized Consolidated Statement of Income - Activities with the Market
and Corporation 2019 2018 R$ million % (In millions of R$) Banking product 2,525 2,913 (388) ( 13.3) Cost of Credit and Claims - - - - Other operating income (expenses) ( 287) (213) ( 74) 3 4.7 Income tax and social contribution ( 665) ( 952) 287
(30.1) Non-controlling interest in subsidiaries ( 9) ( 9) - - Net income 1 ,564 1 ,739 ( 175) (10.1) Our Net income decreased by 10.1% in the three-month period ended March 31, 2019, compared to the same period in 2018. This decrease was mainly due
to: · Banking product decreased by 13.3% in the in the three-month period ended March 31, 2019, as a consequence of lower financial margin with the market, which includes (i) treasury banking, which manages mismatches of asset and liability
terms (ALM—Asset and Liability Management), as well as interest, foreign exchange and other rates and (ii) treasury trading, which manages proprietary portfolios and may assume guiding positions, in compliance with the limits established by
our risk appetite. · Income tax and social contribution for the Retail Banking and Wholesale Banking segments is calculated by adopting the full income tax rate, net of the tax effect of payment of interest on capital. The difference between
the income tax amount determined for both Retail and Wholesale segments and the effective income tax amount, as stated in our unaudited interim consolidated financial statements, is allocated in “Activities with the Market and
Corporation” segment. As discussed above, our current and deferred income and social contribution taxes decreased in the three-month period ended March 31, 2019, compared to the same period in 2018, mainly due to the recognition of deferred
tax assets at a rate of 40%. In the first quarter of 2018 the recognition rate was 45%, in line with legislation which temporarily increased our effective tax rate. Balance Sheet We present below our summarized balance sheet as of March 31, 2019 and
December 31, 2018. Please see our unaudited interim consolidated financial statements for further details about our Consolidated Balance Sheet. 11 statements, is allocated in the column Activities with the Market and Corporation. As discussed above,
our current and deferred income and social contribution taxes decreased in the three-month period ended March 31, 2019, compared to the same period in 2018, mainly due to the recognition of deferred tax assets at a rate of 40%. In the first quarter
of 2018 the recognition rate was 45%, in line with legislation which temporarily increased our effective tax rate. (c) Activities with the Market and Corporation This segment includes the results from investing our surplus capital, the costs of our
surplus subordinated debt and the net balance of tax assets and liabilities, including: (i) treasury banking, that manages mismatches of assets and liabilities (ALM—Asset and Liability Management), terms, and interest, foreign exchange and
other rates; (ii) treasury trading, that manages proprietary portfolios and may assume guiding positions, in compliance with the limits established by our risk appetite; and (iii) the costs of treasury operations and equity pick-up from companies
not linked to any segments, as well as adjustments related to minority shareholdings in subsidiaries and our equity interest in Porto Seguro S.A. The following table shows the summarized Consolidated Statement of Income with respect to our
Activities with the Market and Corporation segment for the three-month periods ended March 31, 2019 and 2018: Three-Month Period Ended March 31, Variation Summarized Consolidated Statement of Income - Activities with the Market and Corporation 2019
2018 R$ million % (In millions of R$) Banking product 2,525 2,913 (388) ( 13.3) Cost of Credit and Claims - - - - Other operating income (expenses) ( 287) (213) ( 74) 3 4.7 Income tax and social contribution ( 665) ( 952) 287 (30.1) Non-controlling
interest in subsidiaries ( 9) ( 9) - - Net income 1 ,564 1 ,739 ( 175) (10.1) Our Net income decreased by 10.1% in the three-month period ended March 31, 2019, compared to the same period in 2018. This decrease was mainly due to: · Banking
product decreased by 13.3% in the in the three-month period ended March 31, 2019, as a consequence of lower financial margin with the market, which includes (i) treasury banking, which manages mismatches of asset and liability terms (ALM—Asset
and Liability Management), as well as interest, foreign exchange and other rates and (ii) treasury trading, which manages proprietary portfolios and may assume guiding positions, in compliance with the limits established by our risk appetite. ·
Income tax and social contribution for the Retail Banking and Wholesale Banking segments is calculated by adopting the full income tax rate, net of the tax effect of payment of interest on capital. The difference between the income tax amount
determined for both Retail and Wholesale segments and the effective income tax amount, as stated in our unaudited interim consolidated financial statements, is allocated in “Activities with the Market and Corporation” segment. As
discussed above, our current and deferred income and social contribution taxes decreased in the three-month period ended March 31, 2019, compared to the same period in 2018, mainly due to the recognition of deferred tax assets at a rate of 40%. In
the first quarter of 2018 the recognition rate was 45%, in line with legislation which temporarily increased our effective tax rate. Balance Sheet We present below our summarized balance sheet as of March 31, 2019 and December 31, 2018. Please see
our unaudited interim consolidated financial statements for further details about our Consolidated Balance Sheet. 11
As of March 31, As of December 31, Variation Summarized Balance Sheet -
Assets 2019 2018 R$ million % (In millions of R$) 121,654 131,307 (9,653) (7.4) Cash and compulsory deposits in the Central Bank of Brazil 990,063 994,759 (4,696) (0.5) Financial assets at amortized cost 547,172 536,091 11,081 2.1 Loan operations
and lease operations portfolio (33,286) (33,373) 87 (0.3) (-) Provision for Expected Loss (1) 476,177 492,041 (15,864) (3.2) Other financial assets 51,611 49,323 2,288 4.6 Financial assets at fair value through other comprehensive income 286,181
286,646 (465) (0.2) Financial assets at fair value through profit or loss Investments in associates and joint ventures, fixed assets, goodwill 54,644 47,932 6,712 14.0 and intangible assets and other assets Tax assets 41,818 42,830 (1,012) (2.4)
Total assets 1,545,971 1,552,797 (6,826) (0.4) (1) Includes Interbank deposits; Securities purchased under agreements to resell; Securities; and Other financial assets. Our Total assets decreased by 0.4% as of March 31, 2019, compared to December
31, 2018, mainly due to a decrease in other financial assets at amortized cost. This result was partially offset by an increase in our loan and lease operations portfolio. These results are further described below: • Cash and compulsory
deposits in the Central Bank of Brazil decreased 7.4% as of March 31, 2019, compared to December 31, 2018. This result was mainly impacted by dividends and interest on capital paid, which increased the total amount in the period. • Loan
operations and lease operations portfolio increased by 2.1% as of March 31, 2019, compared to December 31, 2018, mainly due to an increase of 4.6% in our small and medium businesses portfolio, 2.3% in our Latin America portfolio and 2.0% in our
individuals portfolio. Almost all types of loans to individuals increased in the three-month period ended March 31, 2019, except for credit cards, which tends to have seasonally lower results in the first quarter of the year, and rural loans. The
growth of other types of loans to individuals was due to an increased demand from clients. The growth in our companies portfolio in Brazil was concentrated in the very small, small and middle-market loans and is also related to an increased client
demand. As of March 31, As of December 31, Variation Loan and Lease Operations, by asset type 2019 2018 R$ million % (In millions of R$) Individuals 216,816 212,564 4,252 2.0 Credit card 77,235 78,255 (1,020) ( 1.3) Personal loans 31,438 29,543
1,895 6.4 Payroll Loans 48,835 46,878 1,957 4.2 Vehicles 16,570 15,920 650 4.1 Mortgage loans 42,738 41,968 770 1.8 Corporate 102,825 102,643 182 0.2 Small and Medium Businesses 71,974 68,812 3,162 4.6 Foreign Loans Latin America 155,557 152,072
3,485 2.3 Total Loan operations and lease operations portfolio 547,172 536,091 11,081 2.1 Please see “Note 10—Loan operations and lease operations portfolio” to our unaudited interim consolidated financial statements for further
details. · Other financial assets at amortized cost decreased by 3.2% as of March 31, 2019 compared to December 31, 2018, mainly due to the reduction on securities under resale agreements with free movement, reflecting the decrease in funding
from securities under resale agreement. 12 As of March 31, As of December 31, Variation Summarized Balance Sheet - Assets 2019 2018 R$ million % (In millions of R$) 121,654 131,307 (9,653) (7.4) Cash and compulsory deposits in the Central Bank of
Brazil 990,063 994,759 (4,696) (0.5) Financial assets at amortized cost 547,172 536,091 11,081 2.1 Loan operations and lease operations portfolio (33,286) (33,373) 87 (0.3) (-) Provision for Expected Loss (1) 476,177 492,041 (15,864) (3.2) Other
financial assets 51,611 49,323 2,288 4.6 Financial assets at fair value through other comprehensive income 286,181 286,646 (465) (0.2) Financial assets at fair value through profit or loss Investments in associates and joint ventures, fixed assets,
goodwill 54,644 47,932 6,712 14.0 and intangible assets and other assets Tax assets 41,818 42,830 (1,012) (2.4) Total assets 1,545,971 1,552,797 (6,826) (0.4) (1) Includes Interbank deposits; Securities purchased under agreements to resell;
Securities; and Other financial assets. Our Total assets decreased by 0.4% as of March 31, 2019, compared to December 31, 2018, mainly due to a decrease in other financial assets at amortized cost. This result was partially offset by an increase in
our loan and lease operations portfolio. These results are further described below: • Cash and compulsory deposits in the Central Bank of Brazil decreased 7.4% as of March 31, 2019, compared to December 31, 2018. This result was mainly
impacted by dividends and interest on capital paid, which increased the total amount in the period. • Loan operations and lease operations portfolio increased by 2.1% as of March 31, 2019, compared to December 31, 2018, mainly due to an
increase of 4.6% in our small and medium businesses portfolio, 2.3% in our Latin America portfolio and 2.0% in our individuals portfolio. Almost all types of loans to individuals increased in the three-month period ended March 31, 2019, except for
credit cards, which tends to have seasonally lower results in the first quarter of the year, and rural loans. The growth of other types of loans to individuals was due to an increased demand from clients. The growth in our companies portfolio in
Brazil was concentrated in the very small, small and middle-market loans and is also related to an increased client demand. As of March 31, As of December 31, Variation Loan and Lease Operations, by asset type 2019 2018 R$ million % (In millions of
R$) Individuals 216,816 212,564 4,252 2.0 Credit card 77,235 78,255 (1,020) ( 1.3) Personal loans 31,438 29,543 1,895 6.4 Payroll Loans 48,835 46,878 1,957 4.2 Vehicles 16,570 15,920 650 4.1 Mortgage loans 42,738 41,968 770 1.8 Corporate 102,825
102,643 182 0.2 Small and Medium Businesses 71,974 68,812 3,162 4.6 Foreign Loans Latin America 155,557 152,072 3,485 2.3 Total Loan operations and lease operations portfolio 547,172 536,091 11,081 2.1 Please see “Note 10—Loan operations
and lease operations portfolio” to our unaudited interim consolidated financial statements for further details. · Other financial assets at amortized cost decreased by 3.2% as of March 31, 2019 compared to December 31, 2018, mainly due to
the reduction on securities under resale agreements with free movement, reflecting the decrease in funding from securities under resale agreement. 12
Please see “Note 4 - Interbank deposits and securities purchased
under agreements to resell” to our unaudited interim consolidated financial statements for further details. · Investments in associates and joint ventures, fixed assets, goodwill and intangible assets and other assets increased 14.0% as
of March 31, 2019 compared to December 31, 2018, mainly due to the recognition of right-of-use assets as a consequence of the adoption of IFRS 16 – “Leases” as of January 1, 2019. Please see “Note 18 – Other assets and
liabilities” to our unaudited interim consolidated financial statements for further details. Variation Summarized Balance Sheet - Liabilities and As of March 31, As of December 31, 2019 2018 R$ million % stockholders' equity (In millions of
R$) Financial Liabilities 1,147,615 1,151,237 ( 3,622) (0.3) At Amortized Cost 1,115,757 1,119,734 ( 3,977) (0.4) Deposits 461,487 463,424 ( 1,937) (0.4) Securities sold under repurchase agreements 313,808 330,237 ( 16,429) (5.0) Interbank market
debt, Institutional market debt and 340,462 326,073 14,389 4.4 other financial liabilities At Fair Value Through Profit or Loss 27,980 27,711 269 1.0 Provision for Expected Loss 3,878 3,792 86 2.3 Reserves for insurance and private pension 205,041
201,187 3,854 1.9 Provisions 18,261 18,613 ( 352) (1.9) Tax liabilities 5,129 5,284 (155) (2.9) Other liabilities 31,266 26,010 5 ,256 20.2 Total liabilities 1,407,312 1,402,331 4,981 0.4 Total stockholders’ equity attributed to the owners of
the 124,754 136,782 (12,028) (8.8) parent company Non-controlling interests 13,905 13,684 221 1.6 Total stockholders’ equity 138,659 150,466 (11,807) (7.8) Total liabilities and stockholders' equity 1,545,971 1,552,797 (6,826) (0.4) Total
liabilities increased 0.4% as of March 31, 2019 compared to December 31, 2018, mainly due to an increase in interbank and institutional market debt and other financial liabilities and reserves for insurance and private pension. This result was
offset by a decrease in securities sold under repurchase agreements at amortized cost. These results are detailed as follows: • Interbank and Institutional market debt and other financial liabilities increased by 4.4% as of March 31, 2019
compared to December 31, 2018, mainly due to (i) the issuance of R$ 3.05 billion in Perpetual Subordinated Financial Notes; (ii) the recognition of right-of-use assets as a consequence of the adoption of IFRS 16 – “Leases” in 2019;
(iii) an increase in foreign borrowings through securities and (iv) an increase of R$2,368 million in real estate credit bills. • Reserves for insurance and private pension increased 1.9% in 2019 as of March 31, 2019, compared to December 31,
2018, mainly due to R$ 4,519 million in premiums and contribution and R$ 3,864 million in the plans’ financial return. These increases were partly offset by R$ 4,081 million in redemptions. • Securities sold under repurchase agreements
at amortized cost decreased 5.0% as of March 31, 2019 compared to December 31, 2018, mainly due to the reduction in securities under resale agreements with free movement. Stockholders’ equity attributable to the owners of the parent company
decreased by 8.8% as of March 31, 2019 compared to December 31, 2018 mainly due to dividends and interest on capital, which we pay monthly, totaling R$2,407 million, and on a supplementary basis, totaling R$17,500 million. 13 Please see “Note
4 - Interbank deposits and securities purchased under agreements to resell” to our unaudited interim consolidated financial statements for further details. · Investments in associates and joint ventures, fixed assets, goodwill and
intangible assets and other assets increased 14.0% as of March 31, 2019 compared to December 31, 2018, mainly due to the recognition of right-of-use assets as a consequence of the adoption of IFRS 16 – “Leases” as of January 1,
2019. Please see “Note 18 – Other assets and liabilities” to our unaudited interim consolidated financial statements for further details. Variation Summarized Balance Sheet - Liabilities and As of March 31, As of December 31, 2019
2018 R$ million % stockholders' equity (In millions of R$) Financial Liabilities 1,147,615 1,151,237 ( 3,622) (0.3) At Amortized Cost 1,115,757 1,119,734 ( 3,977) (0.4) Deposits 461,487 463,424 ( 1,937) (0.4) Securities sold under repurchase
agreements 313,808 330,237 ( 16,429) (5.0) Interbank market debt, Institutional market debt and 340,462 326,073 14,389 4.4 other financial liabilities At Fair Value Through Profit or Loss 27,980 27,711 269 1.0 Provision for Expected Loss 3,878 3,792
86 2.3 Reserves for insurance and private pension 205,041 201,187 3,854 1.9 Provisions 18,261 18,613 ( 352) (1.9) Tax liabilities 5,129 5,284 (155) (2.9) Other liabilities 31,266 26,010 5 ,256 20.2 Total liabilities 1,407,312 1,402,331 4,981 0.4
Total stockholders’ equity attributed to the owners of the 124,754 136,782 (12,028) (8.8) parent company Non-controlling interests 13,905 13,684 221 1.6 Total stockholders’ equity 138,659 150,466 (11,807) (7.8) Total liabilities and
stockholders' equity 1,545,971 1,552,797 (6,826) (0.4) Total liabilities increased 0.4% as of March 31, 2019 compared to December 31, 2018, mainly due to an increase in interbank and institutional market debt and other financial liabilities and
reserves for insurance and private pension. This result was offset by a decrease in securities sold under repurchase agreements at amortized cost. These results are detailed as follows: • Interbank and Institutional market debt and other
financial liabilities increased by 4.4% as of March 31, 2019 compared to December 31, 2018, mainly due to (i) the issuance of R$ 3.05 billion in Perpetual Subordinated Financial Notes; (ii) the recognition of right-of-use assets as a consequence of
the adoption of IFRS 16 – “Leases” in 2019; (iii) an increase in foreign borrowings through securities and (iv) an increase of R$2,368 million in real estate credit bills. • Reserves for insurance and private pension
increased 1.9% in 2019 as of March 31, 2019, compared to December 31, 2018, mainly due to R$ 4,519 million in premiums and contribution and R$ 3,864 million in the plans’ financial return. These increases were partly offset by R$ 4,081 million
in redemptions. • Securities sold under repurchase agreements at amortized cost decreased 5.0% as of March 31, 2019 compared to December 31, 2018, mainly due to the reduction in securities under resale agreements with free movement.
Stockholders’ equity attributable to the owners of the parent company decreased by 8.8% as of March 31, 2019 compared to December 31, 2018 mainly due to dividends and interest on capital, which we pay monthly, totaling R$2,407 million, and on
a supplementary basis, totaling R$17,500 million. 13
Capital-to-risk-weighted assets ratio Considering the applicable Basel III
rules, our Tier I Capital was 15.9% as of December 31, 2018. Due to our Stockholder Remuneration Policy, and taking into account the effect of 2.4 percentage points after additional payment of dividends and interest on own capital, our Tier I
capital reached the 13.5% target at the end of 2018. By the same measure, our Common Equity ratio was 12.5% as of December 31, 2018. Considering the 80 basis points impact of net income and other equity changes in the three-month period ended March
31, 2019, in addition to the 30 basis points impact of the additional Tier I capital approved in February 2019, our Tier I capital ratio reached 14.6% and our Common Equity Tier I ratio reached 13.3% as of March 31, 2019. Please see “Note 32
– Risk and Capital Management” to our unaudited interim consolidated financial statements for further details on our capital risk management. Cash Flows The following table sets forth the main variations in our summarized cash flows for
the three-month periods ended March 31, 2019 and 2018: Three-Month Period Ended March 31, Summarized Cash Flows 2019 2018 (In millions of R$) Net cash from (used in) operating activities 8 ,055 ( 96,535) Net cash from (used in) investing activities
(2,855) 2 ,237 Net cash from (used in) financing activities ( 13,642) (14,803) Net increase (decrease) in cash and cash equivalents (8,442) (109,101) Please see our unaudited interim consolidated financial statements for further details about our
Consolidated Statement of Cash Flows. • Operating Activities: In the three-month period ended March 31, 2019, net cash from operating activities was R$8,055 million, mainly as a result of changes in securities purchased under agreements to
resell. This result was partially offset by the increase in loan operations as a result of the growth in our credit portfolio. In the three-month period ended March 31, 2018, net cash used in operating activities was R$96,535 million mainly as a
result of the changes in securities purchased under agreements to resell. Our management believes cash flows from operations, available cash balances and funds from interbank markets will be sufficient to fund our operating liquidity needs for the
coming years. 14 Capital-to-risk-weighted assets ratio Considering the applicable Basel III rules, our Tier I Capital was 15.9% as of December 31, 2018. Due to our Stockholder Remuneration Policy, and taking into account the effect of 2.4 percentage
points after additional payment of dividends and interest on own capital, our Tier I capital reached the 13.5% target at the end of 2018. By the same measure, our Common Equity ratio was 12.5% as of December 31, 2018. Considering the 80 basis points
impact of net income and other equity changes in the three-month period ended March 31, 2019, in addition to the 30 basis points impact of the additional Tier I capital approved in February 2019, our Tier I capital ratio reached 14.6% and our Common
Equity Tier I ratio reached 13.3% as of March 31, 2019. Please see “Note 32 – Risk and Capital Management” to our unaudited interim consolidated financial statements for further details on our capital risk management. Cash Flows
The following table sets forth the main variations in our summarized cash flows for the three-month periods ended March 31, 2019 and 2018: Three-Month Period Ended March 31, Summarized Cash Flows 2019 2018 (In millions of R$) Net cash from (used in)
operating activities 8 ,055 ( 96,535) Net cash from (used in) investing activities (2,855) 2 ,237 Net cash from (used in) financing activities ( 13,642) (14,803) Net increase (decrease) in cash and cash equivalents (8,442) (109,101) Please see our
unaudited interim consolidated financial statements for further details about our Consolidated Statement of Cash Flows. • Operating Activities: In the three-month period ended March 31, 2019, net cash from operating activities was R$8,055
million, mainly as a result of changes in securities purchased under agreements to resell. This result was partially offset by the increase in loan operations as a result of the growth in our credit portfolio. In the three-month period ended March
31, 2018, net cash used in operating activities was R$96,535 million mainly as a result of the changes in securities purchased under agreements to resell. Our management believes cash flows from operations, available cash balances and funds from
interbank markets will be sufficient to fund our operating liquidity needs for the coming years. 14
• Investing Activities: In the three-month period ended March 31,
2019, net cash used in investing activities was R$2,855 million, mainly as a result of cash received from the redemption of financial assets at amortized cost. This result was partially offset by cash received on financial assets - at fair value
through other comprehensive income. In the three-month period ended March 31, 2018, net cash from investing activities was R$2,237 million mainly as a result of the purchase and cash received from financial assets - at fair value through other
comprehensive income and purchase and cash received from redemption of financial assets at amortized cost. • Financing Activities: In the three-month period ended March 31, 2019, net cash used in financing activities was R$13,642 million,
mainly as a result of dividends and interest on capital paid and partially offset by redemptions in institutional markets. In the three-month period ended March 31, 2018, net cash used in financing activities was R$14,803 million, mainly as a result
of an increase in redemptions of our subordinated debt in institutional markets and the payment of dividends and interest on capital. B. Liquidity and Capital Resources We define our consolidated group operational liquidity reserve as the total
amount of assets that can be rapidly turned into cash, based on local market practices and legal restrictions. The operational liquidity reserve generally includes: cash and deposits on demand, funded positions of securities purchased under
agreements to resell and unencumbered government securities. The following table presents our operational liquidity reserve as of March 31, 2019 and 2018: (In millions of R$) As of March 31, 2019 Average Cash in Cash Flows (1) 2019 2018 Balance Cash
30,376 25,444 29,570 Securities purchased under agreements to resell – Funded position 37,720 45,177 45,713 Unencumbered government securities 65,551 82,809 78,349 Operational reserve 133,647 153,430 153,632 (1) Average calculated based on our
unaudited interim consolidated financial statements. Our main sources of funding are interest-bearing deposits, deposits received under repurchase agreements, on lending from government financial institutions, lines of credit with foreign banks and
the issuance of securities abroad. Please refer to “Note 15 – Deposits” to our unaudited interim consolidated financial statements for further details about funding. Capital Expenditures Please see “Note 13 – Fixed
assets” and “Note 14 – Goodwill and Intangible assets” to our unaudited interim consolidated financial statements for details about our capital expenditures. Capitalization The table below presents our capitalization as of
March 31, 2019. The information described is derived from our unaudited interim consolidated financial statements as of and for the nine-month period ended March 31, 2019. As of the date of this current report on Form 6-K, there has been no material
change in our capitalization since March 31, 2019. 15 • Investing Activities: In the three-month period ended March 31, 2019, net cash used in investing activities was R$2,855 million, mainly as a result of cash received from the redemption of
financial assets at amortized cost. This result was partially offset by cash received on financial assets - at fair value through other comprehensive income. In the three-month period ended March 31, 2018, net cash from investing activities was
R$2,237 million mainly as a result of the purchase and cash received from financial assets - at fair value through other comprehensive income and purchase and cash received from redemption of financial assets at amortized cost. • Financing
Activities: In the three-month period ended March 31, 2019, net cash used in financing activities was R$13,642 million, mainly as a result of dividends and interest on capital paid and partially offset by redemptions in institutional markets. In the
three-month period ended March 31, 2018, net cash used in financing activities was R$14,803 million, mainly as a result of an increase in redemptions of our subordinated debt in institutional markets and the payment of dividends and interest on
capital. B. Liquidity and Capital Resources We define our consolidated group operational liquidity reserve as the total amount of assets that can be rapidly turned into cash, based on local market practices and legal restrictions. The operational
liquidity reserve generally includes: cash and deposits on demand, funded positions of securities purchased under agreements to resell and unencumbered government securities. The following table presents our operational liquidity reserve as of March
31, 2019 and 2018: (In millions of R$) As of March 31, 2019 Average Cash in Cash Flows (1) 2019 2018 Balance Cash 30,376 25,444 29,570 Securities purchased under agreements to resell – Funded position 37,720 45,177 45,713 Unencumbered
government securities 65,551 82,809 78,349 Operational reserve 133,647 153,430 153,632 (1) Average calculated based on our unaudited interim consolidated financial statements. Our main sources of funding are interest-bearing deposits, deposits
received under repurchase agreements, on lending from government financial institutions, lines of credit with foreign banks and the issuance of securities abroad. Please refer to “Note 15 – Deposits” to our unaudited interim
consolidated financial statements for further details about funding. Capital Expenditures Please see “Note 13 – Fixed assets” and “Note 14 – Goodwill and Intangible assets” to our unaudited interim consolidated
financial statements for details about our capital expenditures. Capitalization The table below presents our capitalization as of March 31, 2019. The information described is derived from our unaudited interim consolidated financial statements as of
and for the nine-month period ended March 31, 2019. As of the date of this current report on Form 6-K, there has been no material change in our capitalization since March 31, 2019. 15
As of March 31, 2019 Capitalization (1) R$ US$ (In millions of R$, except
percentages) Current liabilities Deposits 309,182 79,345 Securities sold under repurchase agreements 253,467 65,047 Financial liabilities designated at fair value through profit or loss 41 11 Derivatives 11,523 2,957 Interbank market debt 85,630
21,975 Institutional market debt 7,913 2,031 Other financial liabilities 99,477 25,529 Reserves for insurance and private pension 4,100 1,052 Provisions 4,998 1,283 Tax liabilities 1,815 465 Other liabilities 30,210 7,752 Total 808,356 207,447
Long-term liabilities Deposits 152,305 39,086 Securities sold under repurchase agreements 60,341 15,485 Financial liabilities designated at fair value through profit or loss 143 37 Derivatives 16,273 4,176 Interbank market debt 53,931 13,840
Institutional market debt 91,750 23,546 Other financial liabilities 1,761 452 Reserves for insurance and private pension 200,941 51,567 Provision for Expected Loss 3,878 995 Provisions 13,263 3,403 Tax liabilities 3,047 782 Other liabilities 1,056
271 Total 598,689 153,640 Income tax and social contribution - deferred 267 69 Non-controlling interests 13,905 3,568 (2) 124,754 32,015 Stockholders’ equity attributed to the owners of the parent company (3) 1,545,971 396,739 Total
capitalization (4) 16.0% BIS ratio (1) Convenience translation at 3.8967 reais per U.S. dollar, the exchange rate in effect on March 31, 2019. (2) Itaú Unibanco Holding’s authorized and outstanding share capital consists of
4,958,290,359 common shares and 4,762,230,563 preferred shares, all of which are fully paid. (3) Total capitalization corresponds to the sum of total current liabilities, long-term liabilities, deferred income, minority interest in subsidiaries and
stockholders’ equity. (4) Calculated by dividing total regulatory capital by risk weight assets. Capital Management Please see “Note 32 – Risk and Capital Management, 1.4 Maximum Exposure of Financial Assets to Credit Risk,”
“Note 32 – 2. Market Risk – 2.1 VaR - Consolidated Itaú Unibanco Holding” and “Note 32 – 3. Liquidity Risk” to our unaudited interim consolidated financial statements for details about Capital
Management, VaR Consolidated Itaú Unibanco and Exchange rate sensitivity. E. Off-Balance Sheet Arrangements We do not have any off-balance sheet arrangements, other than the guarantees, financial guarantees, commitments to be released, letters
of credit to be released and contractual commitments we granted that are described in “Note 13 - Fixed assets,” “Note 14 - Goodwill and Intangible assets,” “Note 32 – Risk and Capital Management, 1.1 –
Collateral and policies for mitigating credit risk” and “Note 32 – 1.4 – Maximum Exposure of Financial Assets to Credit Risk” to our unaudited interim consolidated financial statements. 16 As of March 31, 2019
Capitalization (1) R$ US$ (In millions of R$, except percentages) Current liabilities Deposits 309,182 79,345 Securities sold under repurchase agreements 253,467 65,047 Financial liabilities designated at fair value through profit or loss 41 11
Derivatives 11,523 2,957 Interbank market debt 85,630 21,975 Institutional market debt 7,913 2,031 Other financial liabilities 99,477 25,529 Reserves for insurance and private pension 4,100 1,052 Provisions 4,998 1,283 Tax liabilities 1,815 465
Other liabilities 30,210 7,752 Total 808,356 207,447 Long-term liabilities Deposits 152,305 39,086 Securities sold under repurchase agreements 60,341 15,485 Financial liabilities designated at fair value through profit or loss 143 37 Derivatives
16,273 4,176 Interbank market debt 53,931 13,840 Institutional market debt 91,750 23,546 Other financial liabilities 1,761 452 Reserves for insurance and private pension 200,941 51,567 Provision for Expected Loss 3,878 995 Provisions 13,263 3,403
Tax liabilities 3,047 782 Other liabilities 1,056 271 Total 598,689 153,640 Income tax and social contribution - deferred 267 69 Non-controlling interests 13,905 3,568 (2) 124,754 32,015 Stockholders’ equity attributed to the owners of the
parent company (3) 1,545,971 396,739 Total capitalization (4) 16.0% BIS ratio (1) Convenience translation at 3.8967 reais per U.S. dollar, the exchange rate in effect on March 31, 2019. (2) Itaú Unibanco Holding’s authorized and
outstanding share capital consists of 4,958,290,359 common shares and 4,762,230,563 preferred shares, all of which are fully paid. (3) Total capitalization corresponds to the sum of total current liabilities, long-term liabilities, deferred income,
minority interest in subsidiaries and stockholders’ equity. (4) Calculated by dividing total regulatory capital by risk weight assets. Capital Management Please see “Note 32 – Risk and Capital Management, 1.4 Maximum Exposure of
Financial Assets to Credit Risk,” “Note 32 – 2. Market Risk – 2.1 VaR - Consolidated Itaú Unibanco Holding” and “Note 32 – 3. Liquidity Risk” to our unaudited interim consolidated financial
statements for details about Capital Management, VaR Consolidated Itaú Unibanco and Exchange rate sensitivity. E. Off-Balance Sheet Arrangements We do not have any off-balance sheet arrangements, other than the guarantees, financial guarantees,
commitments to be released, letters of credit to be released and contractual commitments we granted that are described in “Note 13 - Fixed assets,” “Note 14 - Goodwill and Intangible assets,” “Note 32 – Risk and
Capital Management, 1.1 – Collateral and policies for mitigating credit risk” and “Note 32 – 1.4 – Maximum Exposure of Financial Assets to Credit Risk” to our unaudited interim consolidated financial statements.
16
RECENT DEVELOPMENTS Regulatory Environment New Rule regarding Positive
Registry of Credit Scores On April 8, 2019, the President of Brazil sanctioned Supplementary Law No. 166/2019, which changes the rules related to the Positive Registry of credit scores in Brazil. The registry will allow each Brazilian to have a
credit score, defined according to the payment of their bills, such as bank loans, credit card invoices and utility bills for water, electricity and telephone lines. The good payer will have a higher score that can be considered by financial
institutions when it comes to granting consumer credit. The Positive Registry has existed since 2011, but it required the consumer’s authorization to open his or her registry in the database. With this new law, the onboarding will be
automatic, with the possibility of the consumer to opt out. The Positive Registry includes information on credit operations paid or in progress. The database cannot collect personal information that is not related to the credit risk analysis.
Guidelines for implementation of Open Banking in Brazil On April 25, 2019, the Central Bank announced the initial guidelines for open banking regulation in Brazil through Notice No. 33,455. Open banking consists of the sharing of data and payment
solutions by financial institutions and other authorized entities, upon customer’s authorization and via integration of information systems. The Central Bank has looked at open banking as an important tool for innovation in the financial
market, making the banking industry more efficient and competitive. According to Notice No. 33,455, the Brazilian open banking model will be comprised of financial institutions, payment institutions and other Central Bank-licensed entities by making
it possible to share, in a phased-in approach, (i) data on products and services, (ii) customer record data, and (iii) customer transaction data. Open banking will eventually cover the provision of payment services. The criteria and specifications
of each phase will be specified by Central Bank on specific regulation and self-regulation yet to be issued. Within this context, Central Bank-licensed entities opting to join the open banking ecosystem must share the information listed above with
other participating institutions. At its inception, however, the open banking model will only be compulsory for financial institutions belonging to prudential conglomerates in segments S1 and S2. Compulsory joining will gradually extend to the other
Central Bank-licensed entities. With regards to customer data, customer authorization will always be required. The Central Bank expects to submit the first draft of the proposed regulation for public consultation during the second half of 2019 to
define the scope, application, responsibilities, minimum operational requirements, internal controls, risk management and other minimum conditions for the contractual relation between authorized institutions and unauthorized third entities, as well
as the corresponding timeframe for phase-in arrangements. The technological and safety standards, in turn, are to be set via self-regulation by the participating entities under the supervision of BCB, which is charged with ensuring that access to
the open banking environment is non-discriminatory and adequately represents all industry segments adhering to it. According to the Central Bank, the open banking environment is expected to be operational in the second half of 2020. Provisional
Measure on Economic Freedom On April 30, 2019, the President of Brazil issued Provisional Measure No. 881, which created the Declaration of Economic Freedom Rights, or the MP on Economic Freedom, established free market guarantees and the need for a
regulatory impact review in order to enact and amend rules, among other important issues. It was published and came into force on the same date, except for certain provisions that are subject to regulation. The MP on Economic 17 RECENT DEVELOPMENTS
Regulatory Environment New Rule regarding Positive Registry of Credit Scores On April 8, 2019, the President of Brazil sanctioned Supplementary Law No. 166/2019, which changes the rules related to the Positive Registry of credit scores in Brazil.
The registry will allow each Brazilian to have a credit score, defined according to the payment of their bills, such as bank loans, credit card invoices and utility bills for water, electricity and telephone lines. The good payer will have a higher
score that can be considered by financial institutions when it comes to granting consumer credit. The Positive Registry has existed since 2011, but it required the consumer’s authorization to open his or her registry in the database. With this
new law, the onboarding will be automatic, with the possibility of the consumer to opt out. The Positive Registry includes information on credit operations paid or in progress. The database cannot collect personal information that is not related to
the credit risk analysis. Guidelines for implementation of Open Banking in Brazil On April 25, 2019, the Central Bank announced the initial guidelines for open banking regulation in Brazil through Notice No. 33,455. Open banking consists of the
sharing of data and payment solutions by financial institutions and other authorized entities, upon customer’s authorization and via integration of information systems. The Central Bank has looked at open banking as an important tool for
innovation in the financial market, making the banking industry more efficient and competitive. According to Notice No. 33,455, the Brazilian open banking model will be comprised of financial institutions, payment institutions and other Central
Bank-licensed entities by making it possible to share, in a phased-in approach, (i) data on products and services, (ii) customer record data, and (iii) customer transaction data. Open banking will eventually cover the provision of payment services.
The criteria and specifications of each phase will be specified by Central Bank on specific regulation and self-regulation yet to be issued. Within this context, Central Bank-licensed entities opting to join the open banking ecosystem must share the
information listed above with other participating institutions. At its inception, however, the open banking model will only be compulsory for financial institutions belonging to prudential conglomerates in segments S1 and S2. Compulsory joining will
gradually extend to the other Central Bank-licensed entities. With regards to customer data, customer authorization will always be required. The Central Bank expects to submit the first draft of the proposed regulation for public consultation during
the second half of 2019 to define the scope, application, responsibilities, minimum operational requirements, internal controls, risk management and other minimum conditions for the contractual relation between authorized institutions and
unauthorized third entities, as well as the corresponding timeframe for phase-in arrangements. The technological and safety standards, in turn, are to be set via self-regulation by the participating entities under the supervision of BCB, which is
charged with ensuring that access to the open banking environment is non-discriminatory and adequately represents all industry segments adhering to it. According to the Central Bank, the open banking environment is expected to be operational in the
second half of 2020. Provisional Measure on Economic Freedom On April 30, 2019, the President of Brazil issued Provisional Measure No. 881, which created the Declaration of Economic Freedom Rights, or the MP on Economic Freedom, established free
market guarantees and the need for a regulatory impact review in order to enact and amend rules, among other important issues. It was published and came into force on the same date, except for certain provisions that are subject to regulation. The
MP on Economic 17
Freedom creates the Declaration of Economic Freedom Rights, which are
owned by all individuals and legal entities, and which are classified as essential to Brazil’s economic development and growth. Generally speaking, these rules include free enterprise, free pricing, free competition and legal certainty with
respect to the administration’s conduct, free will and good faith, use of technology innovations despite the obsolescence of current rules, recognition of digital documents as a means to cut red tape, tacit approval for requests of certain
public acts of deregulation of the economic activity if the competent authority is silent, among others. It also establishes the duty of the public administration and other applicable entities to avoid the abuse of regulatory power, which may
distort the market rules in the following manners, among others: (i) to favor an economic group, or professional, to the detriment of other competitors; (ii) to prevent the entry of new domestic or foreign competitors into the market; (iii) to
require technical specifications that are not necessary to achieve the desired goal; (iv) to increase transaction costs without demonstrating the benefits; (v) to create an artificial or compulsory demand for products, services, or professional
activities, including the use of notaries, registries or enrollments; and (vi) to introduce limits on the free formation of business companies or economic activities. With the same purpose, the proposals for enactment of and amendment to normative
rulings of general interest for market players or services users, enacted by a federal public administration body or entity (including independent government agencies and public foundations), will be preceded by a regulatory impact review, which
will contain information and data on possible effects of the normative ruling to find out the reasonableness of its economic impact. The MP on Economic Freedom also amends several other federal laws to reinforce the aforementioned principles.
Article 62 of the Federal Constitution enables the President of Brazil to enact provisional measures in important and urgent cases. However, they must be immediately submitted to the Brazilian Congress, which may approve or reject them, within 60
days (extendable for an equal period), with the possibility of being modified during their processing. If this provisional measure is not approved within this timeframe of 60 days, it will lose its effects. 18 Freedom creates the Declaration of
Economic Freedom Rights, which are owned by all individuals and legal entities, and which are classified as essential to Brazil’s economic development and growth. Generally speaking, these rules include free enterprise, free pricing, free
competition and legal certainty with respect to the administration’s conduct, free will and good faith, use of technology innovations despite the obsolescence of current rules, recognition of digital documents as a means to cut red tape, tacit
approval for requests of certain public acts of deregulation of the economic activity if the competent authority is silent, among others. It also establishes the duty of the public administration and other applicable entities to avoid the abuse of
regulatory power, which may distort the market rules in the following manners, among others: (i) to favor an economic group, or professional, to the detriment of other competitors; (ii) to prevent the entry of new domestic or foreign competitors
into the market; (iii) to require technical specifications that are not necessary to achieve the desired goal; (iv) to increase transaction costs without demonstrating the benefits; (v) to create an artificial or compulsory demand for products,
services, or professional activities, including the use of notaries, registries or enrollments; and (vi) to introduce limits on the free formation of business companies or economic activities. With the same purpose, the proposals for enactment of
and amendment to normative rulings of general interest for market players or services users, enacted by a federal public administration body or entity (including independent government agencies and public foundations), will be preceded by a
regulatory impact review, which will contain information and data on possible effects of the normative ruling to find out the reasonableness of its economic impact. The MP on Economic Freedom also amends several other federal laws to reinforce the
aforementioned principles. Article 62 of the Federal Constitution enables the President of Brazil to enact provisional measures in important and urgent cases. However, they must be immediately submitted to the Brazilian Congress, which may approve
or reject them, within 60 days (extendable for an equal period), with the possibility of being modified during their processing. If this provisional measure is not approved within this timeframe of 60 days, it will lose its effects. 18
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: May 16, 2019.
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Itaú Unibanco Holding S.A.
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By:
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/s/ Alexsandro Broedel
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Name:
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Alexsandro Broedel
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Title:
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Group Executive Finance Director and Head of Investor Relations
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By:
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/s/ Milton Maluhy Filho
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Name:
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Milton Maluhy Filho
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Title:
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Chief Financial Officer
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Itaú Unibanco Holding S.A. and its subsidiaries Consolidated interim
financial statements at March 31, 2019 and report on review F-1Itaú Unibanco Holding S.A. and its subsidiaries Consolidated interim financial statements at March 31, 2019 and report on review F-1
Report on review of consolidated interim financial statements To the Board
of Directors and Stockholders Itaú Unibanco Holding S.A. Introduction We have reviewed the accompanying consolidated interim financial statements of Itaú Unibanco Holding S.A. and its subsidiaries ( Company ), which comprise the
consolidated balance sheet as at March 31, 2019, and the related consolidated statements of income, comprehensive income, changes in stockholders' equity and cash flows for the three-month period then ended, and a summary of significant accounting
policies and other explanatory information. Management is responsible for the preparation and fair presentation of these consolidated interim financial statements in accordance with International Accounting Standard (IAS) 34 - Interim Financial
Reporting issued by the International Accounting Standards Board (IASB). Our responsibility is to express a conclusion on these interim financial statements based on our review. Scope of review We conducted our review in accordance with Brazilian
and International Standards on Reviews of Interim Financial Information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by
the Independent Auditor of the Entity , respectively). A review of interim information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review
is substantially less in scope than an audit conducted in accordance with Brazilian and International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be
identified in an audit. Accordingly, we do not express an audit opinion. Conclusion on the consolidated interim financial statements Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated
interim financial statements do not present fairly, in all material respects, the financial position of Itaú Unibanco Holding S.A. and its subsidiaries as at March 31, 2019, and their consolidated financial performance and cash flows for the
three-month period then ended, in accordance with IAS 34 - Interim Financial Reporting , issued by the International Accounting Standards Board (IASB). F-2Report on review of consolidated interim financial statements To the Board of Directors and
Stockholders Itaú Unibanco Holding S.A. Introduction We have reviewed the accompanying consolidated interim financial statements of Itaú Unibanco Holding S.A. and its subsidiaries ( Company ), which comprise the consolidated balance sheet
as at March 31, 2019, and the related consolidated statements of income, comprehensive income, changes in stockholders' equity and cash flows for the three-month period then ended, and a summary of significant accounting policies and other
explanatory information. Management is responsible for the preparation and fair presentation of these consolidated interim financial statements in accordance with International Accounting Standard (IAS) 34 - Interim Financial Reporting issued by the
International Accounting Standards Board (IASB). Our responsibility is to express a conclusion on these interim financial statements based on our review. Scope of review We conducted our review in accordance with Brazilian and International
Standards on Reviews of Interim Financial Information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity and ISRE 2410 - Review of Interim Financial Information Performed by the Independent
Auditor of the Entity , respectively). A review of interim information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is
substantially less in scope than an audit conducted in accordance with Brazilian and International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be
identified in an audit. Accordingly, we do not express an audit opinion. Conclusion on the consolidated interim financial statements Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated
interim financial statements do not present fairly, in all material respects, the financial position of Itaú Unibanco Holding S.A. and its subsidiaries as at March 31, 2019, and their consolidated financial performance and cash flows for the
three-month period then ended, in accordance with IAS 34 - Interim Financial Reporting , issued by the International Accounting Standards Board (IASB). F-2
Itaú Unibanco Holding S.A. Other matters Consolidated Statement of
value added We have also reviewed the consolidated statement of value added for the three-month period ended March 31, 2019, prepared under the responsibility of the Company's management and presented as supplementary information. This statement was
subject to the same review procedures described above and, based on our review, nothing has come to our attention that causes us to believe that they are not properly prepared, in all material respects, in relation to the consolidated interim
financial statements taken as a whole. São Paulo, May 2, 2019 PricewaterhouseCoopers Auditores Independentes CRC 2SP000160/O-5 Emerson Laerte da Silva Contador CRC 1SP171089/O-3 F-3Itaú Unibanco Holding S.A. Other matters Consolidated
Statement of value added We have also reviewed the consolidated statement of value added for the three-month period ended March 31, 2019, prepared under the responsibility of the Company's management and presented as supplementary information. This
statement was subject to the same review procedures described above and, based on our review, nothing has come to our attention that causes us to believe that they are not properly prepared, in all material respects, in relation to the consolidated
interim financial statements taken as a whole. São Paulo, May 2, 2019 PricewaterhouseCoopers Auditores Independentes CRC 2SP000160/O-5 Emerson Laerte da Silva Contador CRC 1SP171089/O-3 F-3
Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A.
Consolidated Balance Sheet (In millions of Reais) Assets Note 03/31/2019 12/31/2018 Cash 30,376 37,159 Financial Assets 1,419,133 1,424,876 Compulsory deposits in the Central Bank of Brazil 91,278 94,148 At Amortized Cost 990,063 994,759 Interbank
deposits 4 26,325 26,420 Securities purchased under agreements to resell 4 259,595 280,136 Securities 9 113,924 110,395 Loan operations and lease operations portfolio 10 547,172 536,091 Other financial assets 18a 76,333 75,090 (-) Provision for
Expected Loss (33,286) (33,373) At Fair Value Through Other Comprehensive Income 51,611 49,323 Securities 8 51,611 49,323 At Fair Value Through Profit or Loss 286,181 286,646 Securities 5 262,097 263,180 Derivatives 6 and 7 24,084 23,466 Investments
in associates and joint ventures 11 12,068 12,019 Fixed assets, net 13 7,279 7,302 Goodwill and Intangible assets, net 14 19,649 19,329 Tax assets 41,818 42,830 Income tax and social contribution - current 2,938 2,831 Income tax and social
contribution - deferred 24b 31,505 32,781 Other 7,375 7,218 Other assets 18a 15,648 9,282 1,545,971 1,552,797 Total assets The accompanying notes are an integral part of these consolidated financial statements. F-4 Itaú Unibanco Holding S.A.
ITAÚ UNIBANCO HOLDING S.A. Consolidated Balance Sheet (In millions of Reais) Assets Note 03/31/2019 12/31/2018 Cash 30,376 37,159 Financial Assets 1,419,133 1,424,876 Compulsory deposits in the Central Bank of Brazil 91,278 94,148 At Amortized
Cost 990,063 994,759 Interbank deposits 4 26,325 26,420 Securities purchased under agreements to resell 4 259,595 280,136 Securities 9 113,924 110,395 Loan operations and lease operations portfolio 10 547,172 536,091 Other financial assets 18a
76,333 75,090 (-) Provision for Expected Loss (33,286) (33,373) At Fair Value Through Other Comprehensive Income 51,611 49,323 Securities 8 51,611 49,323 At Fair Value Through Profit or Loss 286,181 286,646 Securities 5 262,097 263,180 Derivatives 6
and 7 24,084 23,466 Investments in associates and joint ventures 11 12,068 12,019 Fixed assets, net 13 7,279 7,302 Goodwill and Intangible assets, net 14 19,649 19,329 Tax assets 41,818 42,830 Income tax and social contribution - current 2,938 2,831
Income tax and social contribution - deferred 24b 31,505 32,781 Other 7,375 7,218 Other assets 18a 15,648 9,282 1,545,971 1,552,797 Total assets The accompanying notes are an integral part of these consolidated financial statements. F-4
Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A.
Consolidated Balance Sheet (In millions of Reais) Liabilities and stockholders' equity Note 03/31/2019 12/31/2018 Financial Liabilities 1,147,615 1,151,237 At Amortized Cost 1,115,757 1,119,734 461,487 463,424 Deposits 15 Securities sold under
repurchase agreements 17a 313,808 330,237 Interbank market debt 17b 139,561 134,670 Institutional market debt 17c 99,663 93,974 101,238 97,429 Other financial liabilities 18b At Fair Value Through Profit or Loss 27,980 27,711 Derivatives 6 and 7
27,796 27,519 Structured notes 16 184 192 3,878 3,792 Provision for Expected Loss 10 Loan Commitments 2,670 2,601 Financial Guarantees 1,208 1,191 Reserves for insurance and private pension 27c 205,041 201,187 Provisions 18,261 18,613 29 Tax
liabilities 24c 5,129 5,284 Income tax and social contribution - current 1,815 2,058 Income tax and social contribution - deferred 24b 267 447 3,047 2,779 Other Other liabilities 18b 31,266 26,010 Total liabilities 1,407,312 1,402,331 Capital 19a
97,148 97,148 Treasury shares ( 1,334) (1,820) 19a Additional paid-in capital 19c 1,755 2,120 Appropriated reserves 19c 950 13,480 Unappropriated reserves 19c 29,917 29,666 Cumulative other comprehensive income ( 3,682) (3,812) Total
stockholders’ equity attributed to the owners of the parent company 124,754 136,782 Non-controlling interests 19d 13,905 13,684 Total stockholders’ equity 138,659 150,466 Total liabilities and stockholders' equity 1,545,971 1,552,797 The
accompanying notes are an integral part of these consolidated financial statements. F-5 Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A. Consolidated Balance Sheet (In millions of Reais) Liabilities and stockholders' equity Note
03/31/2019 12/31/2018 Financial Liabilities 1,147,615 1,151,237 At Amortized Cost 1,115,757 1,119,734 461,487 463,424 Deposits 15 Securities sold under repurchase agreements 17a 313,808 330,237 Interbank market debt 17b 139,561 134,670 Institutional
market debt 17c 99,663 93,974 101,238 97,429 Other financial liabilities 18b At Fair Value Through Profit or Loss 27,980 27,711 Derivatives 6 and 7 27,796 27,519 Structured notes 16 184 192 3,878 3,792 Provision for Expected Loss 10 Loan Commitments
2,670 2,601 Financial Guarantees 1,208 1,191 Reserves for insurance and private pension 27c 205,041 201,187 Provisions 18,261 18,613 29 Tax liabilities 24c 5,129 5,284 Income tax and social contribution - current 1,815 2,058 Income tax and social
contribution - deferred 24b 267 447 3,047 2,779 Other Other liabilities 18b 31,266 26,010 Total liabilities 1,407,312 1,402,331 Capital 19a 97,148 97,148 Treasury shares ( 1,334) (1,820) 19a Additional paid-in capital 19c 1,755 2,120 Appropriated
reserves 19c 950 13,480 Unappropriated reserves 19c 29,917 29,666 Cumulative other comprehensive income ( 3,682) (3,812) Total stockholders’ equity attributed to the owners of the parent company 124,754 136,782 Non-controlling interests 19d
13,905 13,684 Total stockholders’ equity 138,659 150,466 Total liabilities and stockholders' equity 1,545,971 1,552,797 The accompanying notes are an integral part of these consolidated financial statements. F-5
Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A.
Consolidated Statement of Income Periods ended (In millions of Reais, except for number of shares and earnings per share information) 01/01 to 01/01 to Note 03/31/2019 03/31/2018 Banking product 28,296 27,409 Interest and similar income of financial
assets at amortized cost and at fair value through other comprehensive income 21a 28,192 26,407 Interest, similar income and dividend of financial assets at fair value through profit or loss 6,142 5,973 Interest and similar expenses 21b ( 18,724) (
16,431) Adjustments to Fair Value of Financial Assets and Liabilities 21c 1,583 1,201 Foreign exchange results and exchange variations on transactions 303 ( 145) Banking service fees 22 9,139 8,897 Income related to insurance and private
pension operations before claim and selling expenses 1,097 1,052 Income related to insurance and private pension 4,511 6,055 Change in reserves for insurance and private pension ( 3,414) ( 5,003) Other income 564 455 Expected Loss from Financial
Assets and Claims (3,681) (3,377) Expected Loss with Loan Operations and Lease Operations 10c ( 3,342) ( 2,885) Expected Loss with Other Financial Assets ( 9) ( 213) (Expenses) Recovery of claims ( 330) ( 279) Net Banking Product of Expected Losses
from Financial Assets and Claims 24,615 24,032 Other operating income (expenses) ( 15,077) (14,469) General and administrative expenses 23 ( 13,482) ( 12,804) Tax expenses ( 1,824) ( 1,792) Share of profit or (loss) in associates and joint ventures
11 229 127 Income before income tax and social contribution 9,538 9,563 Current income tax and social contribution 24a ( 1,669) ( 1,579) Deferred income tax and social contribution 24a ( 966) ( 1,427) Net income 6,903 6,557 Net income attributable
to owners of the parent company 25 6,747 6,389 Net income attributable to non-controlling interests 19d 156 168 Earnings per share - basic 25 Common 0.69 0.66 Preferred 0.69 0.66 Earnings per share - diluted 25 Common 0.69 0.65 Preferred 0.69 0.65
Weighted average number of shares outstanding - basic 25 Common 4,958,290,359 4,958,290,359 Preferred 4,770,295,919 4,756,090,561 Weighted average number of shares outstanding - diluted 25 Common 4,958,290,359 4,958,290,359 Preferred 4,806,592,987
4,800,236,634 The accompanying notes are an integral part of these consolidated financial statements. F-6 Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A. Consolidated Statement of Income Periods ended (In millions of Reais, except
for number of shares and earnings per share information) 01/01 to 01/01 to Note 03/31/2019 03/31/2018 Banking product 28,296 27,409 Interest and similar income of financial assets at amortized cost and at fair value through other comprehensive
income 21a 28,192 26,407 Interest, similar income and dividend of financial assets at fair value through profit or loss 6,142 5,973 Interest and similar expenses 21b ( 18,724) ( 16,431) Adjustments to Fair Value of Financial Assets and Liabilities
21c 1,583 1,201 Foreign exchange results and exchange variations on transactions 303 ( 145) Banking service fees 22 9,139 8,897 Income related to insurance and private pension operations before claim and selling expenses 1,097 1,052 Income related
to insurance and private pension 4,511 6,055 Change in reserves for insurance and private pension ( 3,414) ( 5,003) Other income 564 455 Expected Loss from Financial Assets and Claims (3,681) (3,377) Expected Loss with Loan Operations and Lease
Operations 10c ( 3,342) ( 2,885) Expected Loss with Other Financial Assets ( 9) ( 213) (Expenses) Recovery of claims ( 330) ( 279) Net Banking Product of Expected Losses from Financial Assets and Claims 24,615 24,032 Other operating income
(expenses) ( 15,077) (14,469) General and administrative expenses 23 ( 13,482) ( 12,804) Tax expenses ( 1,824) ( 1,792) Share of profit or (loss) in associates and joint ventures 11 229 127 Income before income tax and social contribution 9,538
9,563 Current income tax and social contribution 24a ( 1,669) ( 1,579) Deferred income tax and social contribution 24a ( 966) ( 1,427) Net income 6,903 6,557 Net income attributable to owners of the parent company 25 6,747 6,389 Net income
attributable to non-controlling interests 19d 156 168 Earnings per share - basic 25 Common 0.69 0.66 Preferred 0.69 0.66 Earnings per share - diluted 25 Common 0.69 0.65 Preferred 0.69 0.65 Weighted average number of shares outstanding - basic 25
Common 4,958,290,359 4,958,290,359 Preferred 4,770,295,919 4,756,090,561 Weighted average number of shares outstanding - diluted 25 Common 4,958,290,359 4,958,290,359 Preferred 4,806,592,987 4,800,236,634 The accompanying notes are an integral part
of these consolidated financial statements. F-6
Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A.
Consolidated Statement of Comprehensive Income Periods ended (In millions of Reais) 01/01 to 01/01 to Note 03/31/2019 03/31/2018 Net income 6,903 6,557 Financial assets at fair value through other comprehensive income 210 119 Change in fair value
229 183 Income tax effect (44) (12) (Gains) / losses transferred to income statement 21c 41 (95) Income tax effect (16) 43 Hedge (118) (351) Cash flow hedge 7 38 (56) Change in fair value 91 (91) Income tax effect (53) 35 Hedge of net investment in
foreign operation 7 (156) (295) Change in fair value (274) (491) Income tax effect 118 196 (*) Remeasurements of liabilities for post-employment benefits 2 - Remeasurements 26 4 8 Income tax effect (2) (8) Foreign exchange differences on foreign
investments 36 284 Total other comprehensive income 130 52 Total comprehensive income 7,033 6,609 Comprehensive income attributable to non-controlling interests 156 168 Comprehensive income attributable to the owners of the parent company 6,877
6,441 (*) Amounts that will not be subsequently reclassified to income. The accompanying notes are an integral part of these consolidated financial statements. F-7 Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A. Consolidated
Statement of Comprehensive Income Periods ended (In millions of Reais) 01/01 to 01/01 to Note 03/31/2019 03/31/2018 Net income 6,903 6,557 Financial assets at fair value through other comprehensive income 210 119 Change in fair value 229 183 Income
tax effect (44) (12) (Gains) / losses transferred to income statement 21c 41 (95) Income tax effect (16) 43 Hedge (118) (351) Cash flow hedge 7 38 (56) Change in fair value 91 (91) Income tax effect (53) 35 Hedge of net investment in foreign
operation 7 (156) (295) Change in fair value (274) (491) Income tax effect 118 196 (*) Remeasurements of liabilities for post-employment benefits 2 - Remeasurements 26 4 8 Income tax effect (2) (8) Foreign exchange differences on foreign investments
36 284 Total other comprehensive income 130 52 Total comprehensive income 7,033 6,609 Comprehensive income attributable to non-controlling interests 156 168 Comprehensive income attributable to the owners of the parent company 6,877 6,441 (*)
Amounts that will not be subsequently reclassified to income. The accompanying notes are an integral part of these consolidated financial statements. F-7
Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A.
Consolidated Statement of Changes in Stockholders’ Equity (Notes 19 and 20) Periods ended March 31, 2019 and 2018 (In millions of Reais) Attributed to owners of the parent company Other comprehensive income Total Total stockholders’
stockholders’ Financial Assets Additional Remeasurements Cumulative equity – owners equity – non- Total Treasury Appropriated Unappropriated Retained Gains and at Fair Value Capital paid-in of liabilities of post- translation of
the parent controlling shares reserves reserves earnings losses – Through Other capital employment adjustments company interests (2) Comprehensive hedge benefits abroad (1) Income Balance at 01/01/2018 97,148 (2,743) 1,930 12,499 26,030 -
(944) (825) 2,667 (4,384) 131,378 12,978 144,356 - 1,247 (274) 397 - (2,350) - - - - (980) 212 (768) Transactions with owners Treasury shares - 1,247 356 (534) - - - - - - 1,069 - 1,069 Cancellation of Shares – Meeting of the Board of
Directors 12/15/2017 - 534 - (534) - - - - - - - - - Result of delivery of treasury shares - 713 356 - - - - - - - 1,069 - 1,069 - - (630) - - - - - - - (630) - (630) Recognition of stock-based payment plans (Increase) / Reduction of interest of
controlling stockholders (Note 2.4a I and 3) - - - - - - - - - - - 309 309 Dividends / interest on capital – Special profit reserve - - - 931 - (2,350) - - - - (1,419) (97) (1,516) Dividends / Interest on capital paid in 2018 – declared
after 12/31/2017 - - - (13,673) - - - - - - (13,673) - (13,673) Corporate reorganizations - - - (157) - - - - - - (157) - (157) Other - - - 22 - - - - - 22 - 22 - - - - - 6,389 119 - 284 (351) 6,441 168 6,609 Total comprehensive income - - - - -
6,389 - - - - 6,389 168 6,557 Net income - - - - - - 119 - 284 (351) 52 - 52 Other comprehensive income for the period Appropriations: Legal reserve - - - 277 (277) - - - - - - - Statutory reserve - - - 2,912 850 (3,762) - - - - - - - 97,148 (1,496)
1,656 2,255 26,902 - (825) (825) 2,951 (4,735) 123,031 13,358 136,389 Balance at 03/31/2018 Change in the period - 1 ,247 (2 74) (1 0,244) 872 - 119 - 284 (351) (8,347) 380 (7,967) Balance at 01/01/2019 97,148 (1,820) 2,120 13,480 29,666 - (1,110)
(989) 3,806 (5,519) 136,782 13,684 150,466 - 486 (365) 863 - (2,407) - - - - (1,423) 65 (1,358) Transactions with owners Treasury shares - 486 345 - - - - - - - 831 - 831 Result of delivery of treasury shares - 486 345 - - - - - - - 831 - 831 - -
(710) - - - - - - - (710) - (710) Recognition of stock-based payment plans - - - - - - - - - - - 289 289 (Increase) / Reduction of interest of controlling stockholders (Note 2.4a I and 3) - - - 863 - (2,407) - - - - (1,544) (224) (1,768) Dividends
Dividends / Interest on capital paid in 2019 – declared after 12/31/2018 - - - (17,500) - - - - - - (17,500) - (17,500) Unclaimed dividends - - - - - 14 - - - - 14 - 14 (3) Other - - - - 4 - - - - - 4 - 4 Total comprehensive income - - - - -
6,747 210 2 36 (118) 6,877 156 7,033 Net income - - - - - 6,747 - - - - 6,747 156 6,903 - - - - - - 210 2 36 (118) 130 - 130 Other comprehensive income for the period Appropriations: - - - 325 - (325) - - - - - - - Legal reserve Statutory reserve -
- - 3,782 247 (4,029) - - - - - - - Balance at 03/31/2019 97,148 (1,334) 1,755 950 29,917 - (900) (987) 3,842 (5,637) 124,754 13,905 138,659 Change in the period - 486 (3 65) (1 2,530) 251 - 210 2 36 (1 18) (1 2,028) 221 (1 1,807) (1) Includes Share
of Other Comprehensive Income of Investments in Associates and Joint Ventures related to Financial Assets at Fair Value Through Other Comprehensive Income. (2) Includes Cash flow hedge and hedge of net investment in foreign operation. (3) Includes
Argentina´s hyperinflation adjustment. The accompanying notes are an integral part of these consolidated financial statements. F-8 Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A. Consolidated Statement of Changes in
Stockholders’ Equity (Notes 19 and 20) Periods ended March 31, 2019 and 2018 (In millions of Reais) Attributed to owners of the parent company Other comprehensive income Total Total stockholders’ stockholders’ Financial Assets
Additional Remeasurements Cumulative equity – owners equity – non- Total Treasury Appropriated Unappropriated Retained Gains and at Fair Value Capital paid-in of liabilities of post- translation of the parent controlling shares reserves
reserves earnings losses – Through Other capital employment adjustments company interests (2) Comprehensive hedge benefits abroad (1) Income Balance at 01/01/2018 97,148 (2,743) 1,930 12,499 26,030 - (944) (825) 2,667 (4,384) 131,378 12,978
144,356 - 1,247 (274) 397 - (2,350) - - - - (980) 212 (768) Transactions with owners Treasury shares - 1,247 356 (534) - - - - - - 1,069 - 1,069 Cancellation of Shares – Meeting of the Board of Directors 12/15/2017 - 534 - (534) - - - - - - -
- - Result of delivery of treasury shares - 713 356 - - - - - - - 1,069 - 1,069 - - (630) - - - - - - - (630) - (630) Recognition of stock-based payment plans (Increase) / Reduction of interest of controlling stockholders (Note 2.4a I and 3) - - - -
- - - - - - - 309 309 Dividends / interest on capital – Special profit reserve - - - 931 - (2,350) - - - - (1,419) (97) (1,516) Dividends / Interest on capital paid in 2018 – declared after 12/31/2017 - - - (13,673) - - - - - - (13,673)
- (13,673) Corporate reorganizations - - - (157) - - - - - - (157) - (157) Other - - - 22 - - - - - 22 - 22 - - - - - 6,389 119 - 284 (351) 6,441 168 6,609 Total comprehensive income - - - - - 6,389 - - - - 6,389 168 6,557 Net income - - - - - - 119
- 284 (351) 52 - 52 Other comprehensive income for the period Appropriations: Legal reserve - - - 277 (277) - - - - - - - Statutory reserve - - - 2,912 850 (3,762) - - - - - - - 97,148 (1,496) 1,656 2,255 26,902 - (825) (825) 2,951 (4,735) 123,031
13,358 136,389 Balance at 03/31/2018 Change in the period - 1 ,247 (2 74) (1 0,244) 872 - 119 - 284 (351) (8,347) 380 (7,967) Balance at 01/01/2019 97,148 (1,820) 2,120 13,480 29,666 - (1,110) (989) 3,806 (5,519) 136,782 13,684 150,466 - 486 (365)
863 - (2,407) - - - - (1,423) 65 (1,358) Transactions with owners Treasury shares - 486 345 - - - - - - - 831 - 831 Result of delivery of treasury shares - 486 345 - - - - - - - 831 - 831 - - (710) - - - - - - - (710) - (710) Recognition of
stock-based payment plans - - - - - - - - - - - 289 289 (Increase) / Reduction of interest of controlling stockholders (Note 2.4a I and 3) - - - 863 - (2,407) - - - - (1,544) (224) (1,768) Dividends Dividends / Interest on capital paid in 2019
– declared after 12/31/2018 - - - (17,500) - - - - - - (17,500) - (17,500) Unclaimed dividends - - - - - 14 - - - - 14 - 14 (3) Other - - - - 4 - - - - - 4 - 4 Total comprehensive income - - - - - 6,747 210 2 36 (118) 6,877 156 7,033 Net
income - - - - - 6,747 - - - - 6,747 156 6,903 - - - - - - 210 2 36 (118) 130 - 130 Other comprehensive income for the period Appropriations: - - - 325 - (325) - - - - - - - Legal reserve Statutory reserve - - - 3,782 247 (4,029) - - - - - - -
Balance at 03/31/2019 97,148 (1,334) 1,755 950 29,917 - (900) (987) 3,842 (5,637) 124,754 13,905 138,659 Change in the period - 486 (3 65) (1 2,530) 251 - 210 2 36 (1 18) (1 2,028) 221 (1 1,807) (1) Includes Share of Other Comprehensive Income of
Investments in Associates and Joint Ventures related to Financial Assets at Fair Value Through Other Comprehensive Income. (2) Includes Cash flow hedge and hedge of net investment in foreign operation. (3) Includes Argentina´s hyperinflation
adjustment. The accompanying notes are an integral part of these consolidated financial statements. F-8
Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A.
Consolidated Statement of Cash Flows (In millions of Reais) 01/01 to 01/01 to Notand 03/31/2019 03/31/2018 Adjusted net income 14,720 18,185 Net income 6,903 6,557 Adjustments to net income: 7,817 11,628 Share-based payment (562) (630) Financial
assets through Profit or Loss and Derivatives 388 2,592 Effects of changes in exchange rates on cash and cash equivalents 1,458 71 Expected Loss from Financial Assets and Claims 3,681 3,377 Interest and foreign exchange expense from operations with
subordinated debt 725 1,069 Change in reserves for insurance and private pension 3,414 5,003 Depreciation and amortization 13 and 14 844 859 Interest expenses related to provision for contingent and legal liabilities 334 309 Provision for contingent
and legal liabilities 89 280 Interest income related to escrow deposits (52) (46) Deferred taxes (excluding hedge tax effects) 24b 1,076 1,846 Share of profit or (loss) in associates and joint ventures (229) (127) (Gain) loss on Financial assets -
At fair value through other comprehensive income 21c 41 (95) Interest and foreign exchange income of financial assets at fair value through other comprehensive income (2,351) (2,231) Interest and foreign exchange of financial assets at amortized
cost (770) (559) (Gain) loss on sale of investments and fixed assets (66) (48) Other (203) (42) Change in assets and liabilities (6,665) (114,720) (Increase) decrease in assets (2,062) (122,801) Interbank deposits 1,960 (6,058) Securities purchased
under agreements to resell 15,559 (102,116) Compulsory deposits with the Central Bank of Brazil 2,870 2,846 Loan operations (14,438) (2,018) Derivatives (assets / liabilities) (334) 1,369 Financial assets designated at fair value through profit or
loss 688 (2,592) Other financial assets (1,191) (3,156) Other tax assets (264) 1,711 Other assets (6,912) (12,787) (Decrease) increase in liabilities (4,603) 8,081 Deposits (1,937) 2,950 Deposits received under securities repurchase agreements
(16,429) (13,573) Funds from interbank markets 4,891 7,411 Funds from institutional markets 2,421 (429) Other financial liabilities 3,810 (1,245) Financial liabilities at fair value throught profit or loss (8) (6) Technical reserve for insurance and
private pension 110 92 Provisions (837) (764) Tax liabilities 155 (657) Other liabilities 5,271 16,407 Payment of income tax and social contribution (2,050) (2,105) Net cash from (used in) operating activities 8,055 (96,535) Dividends / Interest on
capital received from investments in associates and joint ventures 36 112 Cash received on financial assets - At fair value through other comprehensive income 5,466 2,967 Cash received from redemption of financial assets at amortized cost 1,439
8,793 Cash upon sale of investments in associates and joint ventures 73 98 Cash upon sale of fixed assets 13 11 76 Purchase of financial assets at fair value through other comprehensive income (8,879) (8,775) Purchase of financial assets at
amortized cost (51) (532) Purchase of investments in associates and joint ventures - (8) Purchase of fixed assets 13 (345) (213) Purchase of intangible assets 14 (605) (281) Net cash from (used in) investing activities (2,855) 2,237 Funding from
institutional markets 3,050 2,493 Redemptions in institutional markets (508) (4,017) Change in non-controlling interests stockholders 229 309 Result of delivery of treasury shares 683 1,069 Dividends and interest on capital paid to non-controlling
interests (164) (97) Dividends and interest on capital paid (16,932) (14,560) Net cash from (used in) financing activities (13,642) (14,803) Net increase (decrease) in cash and cash equivalents 2.4c (8,442) (109,101) Cash and cash equivalents at the
beginning of the period 95,558 186,478 Effects of changes in exchange rates on cash and cash equivalents (1,458) (71) Cash and cash equivalents at the end of the period 85,658 77,306 Cash 30,376 25,444 Interbank deposits 5,160 4,606 Securities
purchased under agreements to resell 50,122 47,256 Additional information on cash flow (Mainly Operating activities) Interest received 32,423 24,078 Interest paid 22,409 22,180 Non-cash transactions Loans transferred to assets held for sale - -
Dividends and interest on capital declared and not yet paid 1,579 1,467 The accompanying notes are an integral part of these consolidated financial statements. F-9 Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A. Consolidated
Statement of Cash Flows (In millions of Reais) 01/01 to 01/01 to Notand 03/31/2019 03/31/2018 Adjusted net income 14,720 18,185 Net income 6,903 6,557 Adjustments to net income: 7,817 11,628 Share-based payment (562) (630) Financial assets through
Profit or Loss and Derivatives 388 2,592 Effects of changes in exchange rates on cash and cash equivalents 1,458 71 Expected Loss from Financial Assets and Claims 3,681 3,377 Interest and foreign exchange expense from operations with subordinated
debt 725 1,069 Change in reserves for insurance and private pension 3,414 5,003 Depreciation and amortization 13 and 14 844 859 Interest expenses related to provision for contingent and legal liabilities 334 309 Provision for contingent and legal
liabilities 89 280 Interest income related to escrow deposits (52) (46) Deferred taxes (excluding hedge tax effects) 24b 1,076 1,846 Share of profit or (loss) in associates and joint ventures (229) (127) (Gain) loss on Financial assets - At fair
value through other comprehensive income 21c 41 (95) Interest and foreign exchange income of financial assets at fair value through other comprehensive income (2,351) (2,231) Interest and foreign exchange of financial assets at amortized cost (770)
(559) (Gain) loss on sale of investments and fixed assets (66) (48) Other (203) (42) Change in assets and liabilities (6,665) (114,720) (Increase) decrease in assets (2,062) (122,801) Interbank deposits 1,960 (6,058) Securities purchased under
agreements to resell 15,559 (102,116) Compulsory deposits with the Central Bank of Brazil 2,870 2,846 Loan operations (14,438) (2,018) Derivatives (assets / liabilities) (334) 1,369 Financial assets designated at fair value through profit or loss
688 (2,592) Other financial assets (1,191) (3,156) Other tax assets (264) 1,711 Other assets (6,912) (12,787) (Decrease) increase in liabilities (4,603) 8,081 Deposits (1,937) 2,950 Deposits received under securities repurchase agreements (16,429)
(13,573) Funds from interbank markets 4,891 7,411 Funds from institutional markets 2,421 (429) Other financial liabilities 3,810 (1,245) Financial liabilities at fair value throught profit or loss (8) (6) Technical reserve for insurance and private
pension 110 92 Provisions (837) (764) Tax liabilities 155 (657) Other liabilities 5,271 16,407 Payment of income tax and social contribution (2,050) (2,105) Net cash from (used in) operating activities 8,055 (96,535) Dividends / Interest on capital
received from investments in associates and joint ventures 36 112 Cash received on financial assets - At fair value through other comprehensive income 5,466 2,967 Cash received from redemption of financial assets at amortized cost 1,439 8,793 Cash
upon sale of investments in associates and joint ventures 73 98 Cash upon sale of fixed assets 13 11 76 Purchase of financial assets at fair value through other comprehensive income (8,879) (8,775) Purchase of financial assets at amortized cost (51)
(532) Purchase of investments in associates and joint ventures - (8) Purchase of fixed assets 13 (345) (213) Purchase of intangible assets 14 (605) (281) Net cash from (used in) investing activities (2,855) 2,237 Funding from institutional markets
3,050 2,493 Redemptions in institutional markets (508) (4,017) Change in non-controlling interests stockholders 229 309 Result of delivery of treasury shares 683 1,069 Dividends and interest on capital paid to non-controlling interests (164) (97)
Dividends and interest on capital paid (16,932) (14,560) Net cash from (used in) financing activities (13,642) (14,803) Net increase (decrease) in cash and cash equivalents 2.4c (8,442) (109,101) Cash and cash equivalents at the beginning of the
period 95,558 186,478 Effects of changes in exchange rates on cash and cash equivalents (1,458) (71) Cash and cash equivalents at the end of the period 85,658 77,306 Cash 30,376 25,444 Interbank deposits 5,160 4,606 Securities purchased under
agreements to resell 50,122 47,256 Additional information on cash flow (Mainly Operating activities) Interest received 32,423 24,078 Interest paid 22,409 22,180 Non-cash transactions Loans transferred to assets held for sale - - Dividends and
interest on capital declared and not yet paid 1,579 1,467 The accompanying notes are an integral part of these consolidated financial statements. F-9
Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A. Notes to
the Consolidated Financial Statements At 03/31/2019 and 12/31/2018 for balance sheet accounts and From 01/01 to 03/31/2019 and 2018 for income statement accounts (In millions of Reais, except information per share) Note 1 - Overview Itaú
Unibanco Holding S.A. (ITAÚ UNIBANCO HOLDING) is a publicly-held company, organized and existing under the Laws of Brazil. The head office is located at Praça Alfredo Egydio de Souza Aranha, n° 100, in the city of São Paulo,
state of São Paulo, Brazil. ITAÚ UNIBANCO HOLDING is present in 19 countries and offers a wide variety of financial products and services to individual and corporate customers, through its branches, subsidiaries and international
associates. It operates in all modalities of banking activities, by means of its portfolios: commercial; investment; mortgage loans; loans, financing and investment; lease and foreign exchange transactions. Its operations are divided into three
segments: Retail Bank, Wholesale Bank, and Activities with the Market + Corporation. Further detailed segment information is presented in Note 30. ITAÚ UNIBANCO HOLDING is a holding company controlled by Itaú Unibanco
Participações S.A. (“IUPAR”), a holding company which owns 51.71% of our common shares, and which is jointly controlled by (i) Itaúsa Investimentos Itaú S.A. (“ITAÚSA”), a holding company controlled
by members of the Egydio de Souza Aranha family, and (ii) Companhia E. Johnston de Participações (“E. JOHNSTON”), a holding company controlled by the Moreira Salles family. Itaúsa also directly holds 39.21% of ITAÚ
UNIBANCO HOLDING common shares. These consolidated financial statements were approved by the Executive Board on May 02, 2019. F-10 Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A. Notes to the Consolidated Financial Statements At
03/31/2019 and 12/31/2018 for balance sheet accounts and From 01/01 to 03/31/2019 and 2018 for income statement accounts (In millions of Reais, except information per share) Note 1 - Overview Itaú Unibanco Holding S.A. (ITAÚ UNIBANCO
HOLDING) is a publicly-held company, organized and existing under the Laws of Brazil. The head office is located at Praça Alfredo Egydio de Souza Aranha, n° 100, in the city of São Paulo, state of São Paulo, Brazil. ITAÚ
UNIBANCO HOLDING is present in 19 countries and offers a wide variety of financial products and services to individual and corporate customers, through its branches, subsidiaries and international associates. It operates in all modalities of banking
activities, by means of its portfolios: commercial; investment; mortgage loans; loans, financing and investment; lease and foreign exchange transactions. Its operations are divided into three segments: Retail Bank, Wholesale Bank, and Activities
with the Market + Corporation. Further detailed segment information is presented in Note 30. ITAÚ UNIBANCO HOLDING is a holding company controlled by Itaú Unibanco Participações S.A. (“IUPAR”), a holding company which
owns 51.71% of our common shares, and which is jointly controlled by (i) Itaúsa Investimentos Itaú S.A. (“ITAÚSA”), a holding company controlled by members of the Egydio de Souza Aranha family, and (ii) Companhia E.
Johnston de Participações (“E. JOHNSTON”), a holding company controlled by the Moreira Salles family. Itaúsa also directly holds 39.21% of ITAÚ UNIBANCO HOLDING common shares. These consolidated financial statements
were approved by the Executive Board on May 02, 2019. F-10
Itaú Unibanco Holding S.A. Note 2 – Significant accounting
policies 2.1. Basis of preparation The Consolidated Financial Statements of ITAÚ UNIBANCO HOLDING were prepared taking into account the requirements and guidelines set out by the National Monetary Council (CMN), which established that as from
December 31, 2010 annual Consolidated Financial Statements are to be prepared in accordance with the International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). These Consolidated Financial
Statements were prepared in accordance with IAS 34 – Interim Financial Reporting, with the option of presenting the Complete Consolidated Financial Statements in lieu of the Condensed Consolidated Financial Statements. In the preparation of
these Consolidated Financial Statements, ITAÚ UNIBANCO HOLDING adopted the criteria for recognition, measurement and disclosure established in the IFRS and in the interpretations of the International Financial Reporting Interpretation Committee
(IFRIC). Management believes that the information included in these Consolidated Financial Statements is relevant and a faithful representation of the information used in the management of the ITAÚ UNIBANCO HOLDING. 2.2. New accounting
standards and new accounting standards changes and interpretations a) Accounting standards applicable for period ended March 31, 2019 · IFRIC 23 – Uncertainty Over Income Tax Treatments on income tax clarifies how to apply the
requirements for recognition and measurement of IAS 12 – Income Taxes when there is uncertainty about the acceptance of income tax treatment by tax authorities. This interpretation is effective for the years beginning January 1st, 2019 and
there were no relevant impacts for the consolidated financial statements of ITAÚ UNIBANCO HOLDING. · IFRS 16 – Leases – The pronouncement replaces IAS 17 - Leases, and related interpretations (IFRIC 4, SIC 15 and SIC 27). It
eliminates the accounting for operating lease agreements for the lessee, presenting only one lease model, that consists of: (a) initially recognizing all lease in assets (Right-of- Use Asset) and liabilities (Other liabilities) at present value; and
(b) recognizing depreciation of Right- of-Use Asset and interest from lease separately in the result. Transition to IFRS 16 ITAÚ UNIBANCO HOLDING adopted IFRS 16 under the retrospective transition method modified on January st 1 , 2019, using
the following criteria: · unified discount rate, considering a portfolio of similar agreements; · calculation of lease liabilities and Right-of-Use Assets at present value of remaining payments; and · review of lease agreements and
terms. New financial subleases have not been recorded. b) Accounting standards recently issued and applicable in future periods · Change in Conceptual Framework – In March, 2018, o IASB issued a review of the Conceptual Framework and the
main changes refer to: definitions of assets and liabilities, recognition criteria, derecognition, measurement, presentation and disclosure for equity elements and result. These st changes are effective for the years started on January 1 , 2020 and
possible impacts are being assessed and will be completed by the date they are in force. · IFRS 17 – Insurance Contracts: The pronouncement replaces IFRS 4 – Insurance Contracts and presents three approaches for assessment: ·
General Model: applicable to all contracts without direct participation features; F-11 Itaú Unibanco Holding S.A. Note 2 – Significant accounting policies 2.1. Basis of preparation The Consolidated Financial Statements of ITAÚ
UNIBANCO HOLDING were prepared taking into account the requirements and guidelines set out by the National Monetary Council (CMN), which established that as from December 31, 2010 annual Consolidated Financial Statements are to be prepared in
accordance with the International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). These Consolidated Financial Statements were prepared in accordance with IAS 34 – Interim Financial
Reporting, with the option of presenting the Complete Consolidated Financial Statements in lieu of the Condensed Consolidated Financial Statements. In the preparation of these Consolidated Financial Statements, ITAÚ UNIBANCO HOLDING adopted the
criteria for recognition, measurement and disclosure established in the IFRS and in the interpretations of the International Financial Reporting Interpretation Committee (IFRIC). Management believes that the information included in these
Consolidated Financial Statements is relevant and a faithful representation of the information used in the management of the ITAÚ UNIBANCO HOLDING. 2.2. New accounting standards and new accounting standards changes and interpretations a)
Accounting standards applicable for period ended March 31, 2019 · IFRIC 23 – Uncertainty Over Income Tax Treatments on income tax clarifies how to apply the requirements for recognition and measurement of IAS 12 – Income Taxes when
there is uncertainty about the acceptance of income tax treatment by tax authorities. This interpretation is effective for the years beginning January 1st, 2019 and there were no relevant impacts for the consolidated financial statements of
ITAÚ UNIBANCO HOLDING. · IFRS 16 – Leases – The pronouncement replaces IAS 17 - Leases, and related interpretations (IFRIC 4, SIC 15 and SIC 27). It eliminates the accounting for operating lease agreements for the lessee,
presenting only one lease model, that consists of: (a) initially recognizing all lease in assets (Right-of- Use Asset) and liabilities (Other liabilities) at present value; and (b) recognizing depreciation of Right- of-Use Asset and interest from
lease separately in the result. Transition to IFRS 16 ITAÚ UNIBANCO HOLDING adopted IFRS 16 under the retrospective transition method modified on January st 1 , 2019, using the following criteria: · unified discount rate, considering a
portfolio of similar agreements; · calculation of lease liabilities and Right-of-Use Assets at present value of remaining payments; and · review of lease agreements and terms. New financial subleases have not been recorded. b) Accounting
standards recently issued and applicable in future periods · Change in Conceptual Framework – In March, 2018, o IASB issued a review of the Conceptual Framework and the main changes refer to: definitions of assets and liabilities,
recognition criteria, derecognition, measurement, presentation and disclosure for equity elements and result. These st changes are effective for the years started on January 1 , 2020 and possible impacts are being assessed and will be completed by
the date they are in force. · IFRS 17 – Insurance Contracts: The pronouncement replaces IFRS 4 – Insurance Contracts and presents three approaches for assessment: · General Model: applicable to all contracts without direct
participation features; F-11
Itaú Unibanco Holding S.A. · Premium Allocation Approach (PAA):
applicable to contracts which term is up to 12 months and with modestly complex cash flows. It is simpler than the standard model; and it can be used only when it produces results similar to those that would be obtained it the standard model was
used; · Variable Fee Approach: applicable to insurance contracts with direct participation features. The insurance contracts are substantially investment related service contracts under which an entity promises an investment return based on
underlying items. Insurance contracts should be recognized based on the analysis of four components: · Expected Future Cash Flows: estimate of all components of cash flow of the contract, considering inflows and outflows; · Risk
Adjustment: estimate of offset required by deviations that may occur between cash flows; · Contractual Margin: difference between any amounts received before the beginning of the contract coverage and present value of cash flows estimated in
the beginning of the contract; · Discount: projected cash flows should be discounted at present value, to reflect the time value of money, at rates that reflect the characteristics of respective flows. st This standard is effective for annual
periods beginning on January 1 , 2021. Possible impacts are being assessed and will be completed by the date this standard is effective. 2.3. Critical accounting estimates and judgments The preparation of Consolidated Financial Statements in
accordance with IFRS requires Management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and contingent assets and liabilities at the date of the Consolidated Financial Statements, due to uncertainties and
high level of subjectivity involved in the recognition and measurement of certain items. Estimates and judgments considered more relevant by ITAÚ UNIBANCO HOLDING are detailed below: a) Consolidation Controlled entities are all entities to
which ITAÚ UNIBANCO HOLDING is exposed, or is entitled to variable returns of involvement with the entity and that can affect these returns through its power on the entity.Control assessment is conducted on a continuous basis. Controlled
entities are consolidated from the date control is established to the date on which control ceases to exist. b) Goodwill The review of goodwill due to impairment reflects the Management's best estimate for future cash flows of Cash Generating Units
(CGU). These flows are subject to market conditions and uncertain factors, such as: · Cash flows projected for periods of available forecasts and long-term assumptions for these flows; · Discount rates, since they generally reflect
financial and economic variables, such as risk-free interest rate and a risk premium. c) Expected Credit Loss The measurement of expected credit loss requires the application of significant assumptions, such as: · Maturity term: ITAÚ
UNIBANCO HOLDING considers the maximum contractual period on which it will be exposed to financial instrument’s credit risk. However, the estimated useful life of assets that do not have a determined maturity is based on the period of exposure
to credit risk. Additionally, all contractual terms are considered when determining the expected life, including prepayment and rollover options. · Prospective information: IFRS 9 requires a balanced and impartial estimate of credit loss that
comprises forecasts of future economic conditions. ITAÚ UNIBANCO HOLDING uses prospective macroeconomic information and public information with projections prepared internally to determine the impact of these estimates on the calculation of
expected credit loss. F-12 Itaú Unibanco Holding S.A. · Premium Allocation Approach (PAA): applicable to contracts which term is up to 12 months and with modestly complex cash flows. It is simpler than the standard model; and it can be
used only when it produces results similar to those that would be obtained it the standard model was used; · Variable Fee Approach: applicable to insurance contracts with direct participation features. The insurance contracts are substantially
investment related service contracts under which an entity promises an investment return based on underlying items. Insurance contracts should be recognized based on the analysis of four components: · Expected Future Cash Flows: estimate of all
components of cash flow of the contract, considering inflows and outflows; · Risk Adjustment: estimate of offset required by deviations that may occur between cash flows; · Contractual Margin: difference between any amounts received before
the beginning of the contract coverage and present value of cash flows estimated in the beginning of the contract; · Discount: projected cash flows should be discounted at present value, to reflect the time value of money, at rates that reflect
the characteristics of respective flows. st This standard is effective for annual periods beginning on January 1 , 2021. Possible impacts are being assessed and will be completed by the date this standard is effective. 2.3. Critical accounting
estimates and judgments The preparation of Consolidated Financial Statements in accordance with IFRS requires Management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and contingent assets and liabilities
at the date of the Consolidated Financial Statements, due to uncertainties and high level of subjectivity involved in the recognition and measurement of certain items. Estimates and judgments considered more relevant by ITAÚ UNIBANCO HOLDING
are detailed below: a) Consolidation Controlled entities are all entities to which ITAÚ UNIBANCO HOLDING is exposed, or is entitled to variable returns of involvement with the entity and that can affect these returns through its power on the
entity.Control assessment is conducted on a continuous basis. Controlled entities are consolidated from the date control is established to the date on which control ceases to exist. b) Goodwill The review of goodwill due to impairment reflects the
Management's best estimate for future cash flows of Cash Generating Units (CGU). These flows are subject to market conditions and uncertain factors, such as: · Cash flows projected for periods of available forecasts and long-term assumptions
for these flows; · Discount rates, since they generally reflect financial and economic variables, such as risk-free interest rate and a risk premium. c) Expected Credit Loss The measurement of expected credit loss requires the application of
significant assumptions, such as: · Maturity term: ITAÚ UNIBANCO HOLDING considers the maximum contractual period on which it will be exposed to financial instrument’s credit risk. However, the estimated useful life of assets that do
not have a determined maturity is based on the period of exposure to credit risk. Additionally, all contractual terms are considered when determining the expected life, including prepayment and rollover options. · Prospective information: IFRS
9 requires a balanced and impartial estimate of credit loss that comprises forecasts of future economic conditions. ITAÚ UNIBANCO HOLDING uses prospective macroeconomic information and public information with projections prepared internally to
determine the impact of these estimates on the calculation of expected credit loss. F-12
Itaú Unibanco Holding S.A. · Probability-weighted loss
scenarios: ITAÚ UNIBANCO HOLDING uses weighted scenarios to determine credit loss expected in a proper observation horizon. · Determining criteria for significant increase or decrease in credit risk: in each period of the consolidated
financial statements, ITAÚ UNIBANCO HOLDING assesses whether the credit risk on a financial asset has increased significantly using relative and absolute triggers (indicators) by product and by country. Brazilian and foreign government
securities are considered with low credit risk, and therefore they remain in stage 1, in accordance with a study conducted by ITAÚ UNIBANCO HOLDING. Significant increase in credit risk: ITAÚ UNIBANCO HOLDING assesses several factors to
determine a significant increase in credit risk, such as: the counterparty, type and characteristics of the product and region in which it was taken out, considering the following objective criteria as minimum factors: · Phase 1 to phase 2:
default exceeding 30 days, except for payroll loans for public bodies, which recognition is made after 45 days in arrears; · Phase 2 to phase 3: default exceeding 90 days, except for the mortgage loan portfolio, which uses 180 days in arrears
as a parameter for phase migration. ITAÚ UNIBANCO HOLDING assesses whether the credit risk has significantly increased on an individual or collective basis. For collective assessment purposes, financial assets are grouped based on
characteristics of shared credit risk, considering the type of instrument, credit risk classifications, initial recognition date, remaining term, industry, geographical location of the counterparty, among other significant factors. Macroeconomic
scenarios: This information involves inherent risks, market uncertainties and other factors that may give rise to results different from expected, including changes in market conditions and economic policy, recessions or fluctuations in indicators
different from expected. d) Change to Financial Assets The factors used to determine whether there was substantial change to a contract are: change to contractual cash flows and significant extensions in the operation term due to the debtor's
financial constraints, significant changes to interest rate and changes to the currency in which the operation is denominated. e) Transfer of Financial Assets Financial assets are written off when all their risks and benefits are transferred. In
this assessment, ITAÚ UNIBANCO HOLDING considers if: there is no obligation to make payments unless the due amounts are received (assets); there is no prohibition to sell these assets or pledge them as guarantee; and there is no obligation to
send all proceedings received from assets without a significant delay. f) Derecognition of Financial Assets When there are no reasonable expectations of recovery of a financial asset, considering historical curves, its total or partial derecognition
is carried out concurrently with the use of the related allowance for expected credit loss, with no effect on the Consolidated Statement of Income of ITAÚ UNIBANCO HOLDING. Subsequent recoveries of amounts previously written off are accounted
for as income in the Consolidated Statement of Income. g) Deferred income tax and social contribution As explained in Note 2.4j, deferred tax assets are recognized only in relation to temporary differences and tax assets and loss for offset to the
extent it is probable that ITAÚ UNIBANCO HOLDING will generate future taxable profit for its use. The expected realization of deferred tax assets is based on the projection of future taxable profits and technical studies, as disclosed in Note
24. F-13 Itaú Unibanco Holding S.A. · Probability-weighted loss scenarios: ITAÚ UNIBANCO HOLDING uses weighted scenarios to determine credit loss expected in a proper observation horizon. · Determining criteria for significant
increase or decrease in credit risk: in each period of the consolidated financial statements, ITAÚ UNIBANCO HOLDING assesses whether the credit risk on a financial asset has increased significantly using relative and absolute triggers
(indicators) by product and by country. Brazilian and foreign government securities are considered with low credit risk, and therefore they remain in stage 1, in accordance with a study conducted by ITAÚ UNIBANCO HOLDING. Significant increase
in credit risk: ITAÚ UNIBANCO HOLDING assesses several factors to determine a significant increase in credit risk, such as: the counterparty, type and characteristics of the product and region in which it was taken out, considering the
following objective criteria as minimum factors: · Phase 1 to phase 2: default exceeding 30 days, except for payroll loans for public bodies, which recognition is made after 45 days in arrears; · Phase 2 to phase 3: default exceeding 90
days, except for the mortgage loan portfolio, which uses 180 days in arrears as a parameter for phase migration. ITAÚ UNIBANCO HOLDING assesses whether the credit risk has significantly increased on an individual or collective basis. For
collective assessment purposes, financial assets are grouped based on characteristics of shared credit risk, considering the type of instrument, credit risk classifications, initial recognition date, remaining term, industry, geographical location
of the counterparty, among other significant factors. Macroeconomic scenarios: This information involves inherent risks, market uncertainties and other factors that may give rise to results different from expected, including changes in market
conditions and economic policy, recessions or fluctuations in indicators different from expected. d) Change to Financial Assets The factors used to determine whether there was substantial change to a contract are: change to contractual cash flows
and significant extensions in the operation term due to the debtor's financial constraints, significant changes to interest rate and changes to the currency in which the operation is denominated. e) Transfer of Financial Assets Financial assets are
written off when all their risks and benefits are transferred. In this assessment, ITAÚ UNIBANCO HOLDING considers if: there is no obligation to make payments unless the due amounts are received (assets); there is no prohibition to sell these
assets or pledge them as guarantee; and there is no obligation to send all proceedings received from assets without a significant delay. f) Derecognition of Financial Assets When there are no reasonable expectations of recovery of a financial asset,
considering historical curves, its total or partial derecognition is carried out concurrently with the use of the related allowance for expected credit loss, with no effect on the Consolidated Statement of Income of ITAÚ UNIBANCO HOLDING.
Subsequent recoveries of amounts previously written off are accounted for as income in the Consolidated Statement of Income. g) Deferred income tax and social contribution As explained in Note 2.4j, deferred tax assets are recognized only in
relation to temporary differences and tax assets and loss for offset to the extent it is probable that ITAÚ UNIBANCO HOLDING will generate future taxable profit for its use. The expected realization of deferred tax assets is based on the
projection of future taxable profits and technical studies, as disclosed in Note 24. F-13
Itaú Unibanco Holding S.A. h) Fair value of financial instruments,
including derivatives The fair value of financial instruments, including Derivatives that are not traded in active markets is calculated by using valuation techniques based on assumptions that consider market information and conditions. The main
assumptions are: historical data, information on similar transactions and pricing techniques. For more complex or illiquid instruments, significant judgment is necessary to determine the model used with the selection of specific inputs and, in
certain cases, evaluation adjustments are applied to the model amount our price quoted for financial instruments that are not actively traded. The methodologies used to estimate the fair value of certain financial instruments are described in Note
28. i) Defined benefit pension plan The current amount of pension plans is obtained from actuarial calculations, which use assumptions as discount rate, which is appropriated at the end of each year and used to determine the present value of
estimated future cash outflows. To determine the appropriate discount rate, ITAÚ UNIBANCO HOLDING considers the interest rates of National Treasury Notes that have maturity terms approximating the terms of the respective liabilities. The main
assumptions on Pension plan obligations are based on, in part, current market conditions. Additional information is disclosed in Note 26. j) Provisions, contingencies and legal liabilities ITAÚ UNIBANCO HOLDING periodically reviews its
contingencies. These contingencies are evaluated based on Management´s best estimates, taking into account the opinion of legal counsel when there is a likelihood that financial resources will be required to settle the obligations and the
amounts may be reasonably estimated. Contingencies classified as probable losses are recognized in the Balance Sheet under Provisions. Contingent amounts are measured using appropriate models and criteria, despite the uncertainty surrounding the
ultimate timing and amounts. Provisions, contingencies and other commitments are detailed in Note 29. k) Technical provisions for insurance and private pension Technical provisions are liabilities arising from obligations of ITAÚ UNIBANCO
HOLDING to its policyholders and participants. These obligations may be short term liabilities (property and casualty insurance) or medium and long term liabilities (life insurance and pension plans). The determination of the actuarial liability is
subject to several uncertainties inherent in the coverage of insurance and pension contracts, such as assumptions of persistence, mortality, disability, life expectancy, morbidity, expenses, frequency and severity of claims, conversion of benefits
into annuities, redemptions and return on assets. The estimates for these assumptions are based on the historical experience of ITAÚ UNIBANCO HOLDING, benchmarks and experience of the actuary, in order to comply with best market practices and
the continuous review of the actuarial liability. The adjustments resulting from these continuous improvements, when necessary, are recognized in the statement of income for the corresponding period. Additional information is described in Note 27.
F-14 Itaú Unibanco Holding S.A. h) Fair value of financial instruments, including derivatives The fair value of financial instruments, including Derivatives that are not traded in active markets is calculated by using valuation techniques based
on assumptions that consider market information and conditions. The main assumptions are: historical data, information on similar transactions and pricing techniques. For more complex or illiquid instruments, significant judgment is necessary to
determine the model used with the selection of specific inputs and, in certain cases, evaluation adjustments are applied to the model amount our price quoted for financial instruments that are not actively traded. The methodologies used to estimate
the fair value of certain financial instruments are described in Note 28. i) Defined benefit pension plan The current amount of pension plans is obtained from actuarial calculations, which use assumptions as discount rate, which is appropriated at
the end of each year and used to determine the present value of estimated future cash outflows. To determine the appropriate discount rate, ITAÚ UNIBANCO HOLDING considers the interest rates of National Treasury Notes that have maturity terms
approximating the terms of the respective liabilities. The main assumptions on Pension plan obligations are based on, in part, current market conditions. Additional information is disclosed in Note 26. j) Provisions, contingencies and legal
liabilities ITAÚ UNIBANCO HOLDING periodically reviews its contingencies. These contingencies are evaluated based on Management´s best estimates, taking into account the opinion of legal counsel when there is a likelihood that financial
resources will be required to settle the obligations and the amounts may be reasonably estimated. Contingencies classified as probable losses are recognized in the Balance Sheet under Provisions. Contingent amounts are measured using appropriate
models and criteria, despite the uncertainty surrounding the ultimate timing and amounts. Provisions, contingencies and other commitments are detailed in Note 29. k) Technical provisions for insurance and private pension Technical provisions are
liabilities arising from obligations of ITAÚ UNIBANCO HOLDING to its policyholders and participants. These obligations may be short term liabilities (property and casualty insurance) or medium and long term liabilities (life insurance and
pension plans). The determination of the actuarial liability is subject to several uncertainties inherent in the coverage of insurance and pension contracts, such as assumptions of persistence, mortality, disability, life expectancy, morbidity,
expenses, frequency and severity of claims, conversion of benefits into annuities, redemptions and return on assets. The estimates for these assumptions are based on the historical experience of ITAÚ UNIBANCO HOLDING, benchmarks and experience
of the actuary, in order to comply with best market practices and the continuous review of the actuarial liability. The adjustments resulting from these continuous improvements, when necessary, are recognized in the statement of income for the
corresponding period. Additional information is described in Note 27. F-14
Itaú Unibanco Holding S.A. 2.4. Summary of main accounting practices
a) Consolidation l. Subsidiaries In accordance with IFRS 10 - Consolidated Financial Statements, subsidiaries are all entities in which ITAÚ UNIBANCO HOLDING holds control. Consolidated financial statements are prepared using consistent
accounting policies. Intra-Group transactions and balances are eliminated on consolidation. From the 3rd quarter of 2018, ITAÚ UNIBANCO HOLDING started adjusting the financial statements of its subsidiaries in Argentina to reflect the effects
of hyperinflation, pursuant to IAS 29 – Financial Reporting in Hyperinflationary Economies. F-15 Itaú Unibanco Holding S.A. 2.4. Summary of main accounting practices a) Consolidation l. Subsidiaries In accordance with IFRS 10 -
Consolidated Financial Statements, subsidiaries are all entities in which ITAÚ UNIBANCO HOLDING holds control. Consolidated financial statements are prepared using consistent accounting policies. Intra-Group transactions and balances are
eliminated on consolidation. From the 3rd quarter of 2018, ITAÚ UNIBANCO HOLDING started adjusting the financial statements of its subsidiaries in Argentina to reflect the effects of hyperinflation, pursuant to IAS 29 – Financial
Reporting in Hyperinflationary Economies. F-15
Itaú Unibanco Holding S.A. The following table shows the main
consolidated companies, which together represent over 95% of total consolidated assets, as well as the interests of ITAÚ UNIBANCO HOLDING in their voting capital. Interest in voting Interest in total Functional Incorporation capital at capital
at Activity (1) country currency 03/31/2019 12/31/2018 03/31/2019 12/31/2018 Domestic Banco Itaú BBA S.A. Brazil 100.00% 100.00% 100.00% 100.00% Financial institution Banco Itaú Consignado S.A. Brazil Financial institution 100.00% 100.00%
100.00% 100.00% Banco Itaucard S.A. Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itauleasing S.A. Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Cia. Itaú de Capitalização Brazil Capitalization
100.00% 100.00% 100.00% 100.00% Dibens Leasing S.A. - Arrendamento Mercantil Brazil Leasing 100.00% 100.00% 100.00% 100.00% Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento Brazil 50.00% 50.00% 50.00% 50.00% Consumer finance
credit Hipercard Banco Múltiplo S.A. Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Itauseg Seguradora S.A. Brazil Insurance 100.00% 99.99% 100.00% 99.99% Itaú Corretora de Valores S.A. Brazil Broker 100.00% 100.00% 100.00%
100.00% Itaú Seguros S.A. Brazil Insurance 100.00% 100.00% 100.00% 100.00% Itaú Unibanco S.A. Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Itaú Vida e Previdência S.A. Brazil 100.00% 100.00% 100.00% 100.00%
Pension plan Luizacred S.A. Sociedade de Crédito, Financiamento e Investimento Brazil Consumer finance credit 50.00% 50.00% 50.00% 50.00% Redecard S.A. Brazil Acquirer 100.00% 100.00% 100.00% 100.00% Foreing Itaú CorpBanca Colombia S.A.
(Note 3) Colombian peso Colombia Financial institution 25.28% 23.90% 25.28% 23.90% Banco Itaú (Suisse) SA Swiss franc Switzerland Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaú Argentina S.A. Argentinian peso Argentina
100.00% 100.00% 100.00% 100.00% Financial institution Banco Itaú Paraguay S.A. Guarani Paraguay Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaú Uruguay S.A. Uruguayan peso Uruguay Financial institution 100.00% 100.00%
100.00% 100.00% Itau Bank, Ltd. Real Cayman Islands Financial institution 100.00% 100.00% 100.00% 100.00% Itaú BBA Colombia S.A. Corporacion Financiera Colombian peso Colombia Financial institution 100.00% 100.00% 100.00% 100.00% Itau BBA
International plc Dollar United Kingdom Financial institution 100.00% 100.00% 100.00% 100.00% United States Broker Itau BBA USA Securities Inc. Real 100.00% 100.00% 100.00% 100.00% (2) (Note 3) Chilean peso Chile Financial institution 38.14% 36.06%
38.14% 36.06% Itaú CorpBanca (1) All foreign branches and subsidiaries of ITAÚ UNIBANCO HOLDING have functional currency equal to that of the controlling entity, except for CorpBanca New York Branch, which functional currency is the
dollar. (2) ITAÚ UNIBANCO HOLDING controls ITAÚ CORPBANCA due to the shareholders’ agreement. F-16 Itaú Unibanco Holding S.A. The following table shows the main consolidated companies, which together represent over 95% of total
consolidated assets, as well as the interests of ITAÚ UNIBANCO HOLDING in their voting capital. Interest in voting Interest in total Functional Incorporation capital at capital at Activity (1) country currency 03/31/2019 12/31/2018 03/31/2019
12/31/2018 Domestic Banco Itaú BBA S.A. Brazil 100.00% 100.00% 100.00% 100.00% Financial institution Banco Itaú Consignado S.A. Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaucard S.A. Brazil Financial institution
100.00% 100.00% 100.00% 100.00% Banco Itauleasing S.A. Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Cia. Itaú de Capitalização Brazil Capitalization 100.00% 100.00% 100.00% 100.00% Dibens Leasing S.A. - Arrendamento
Mercantil Brazil Leasing 100.00% 100.00% 100.00% 100.00% Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento Brazil 50.00% 50.00% 50.00% 50.00% Consumer finance credit Hipercard Banco Múltiplo S.A. Brazil Financial
institution 100.00% 100.00% 100.00% 100.00% Itauseg Seguradora S.A. Brazil Insurance 100.00% 99.99% 100.00% 99.99% Itaú Corretora de Valores S.A. Brazil Broker 100.00% 100.00% 100.00% 100.00% Itaú Seguros S.A. Brazil Insurance 100.00%
100.00% 100.00% 100.00% Itaú Unibanco S.A. Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Itaú Vida e Previdência S.A. Brazil 100.00% 100.00% 100.00% 100.00% Pension plan Luizacred S.A. Sociedade de Crédito,
Financiamento e Investimento Brazil Consumer finance credit 50.00% 50.00% 50.00% 50.00% Redecard S.A. Brazil Acquirer 100.00% 100.00% 100.00% 100.00% Foreing Itaú CorpBanca Colombia S.A. (Note 3) Colombian peso Colombia Financial institution
25.28% 23.90% 25.28% 23.90% Banco Itaú (Suisse) SA Swiss franc Switzerland Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaú Argentina S.A. Argentinian peso Argentina 100.00% 100.00% 100.00% 100.00% Financial institution
Banco Itaú Paraguay S.A. Guarani Paraguay Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaú Uruguay S.A. Uruguayan peso Uruguay Financial institution 100.00% 100.00% 100.00% 100.00% Itau Bank, Ltd. Real Cayman Islands
Financial institution 100.00% 100.00% 100.00% 100.00% Itaú BBA Colombia S.A. Corporacion Financiera Colombian peso Colombia Financial institution 100.00% 100.00% 100.00% 100.00% Itau BBA International plc Dollar United Kingdom Financial
institution 100.00% 100.00% 100.00% 100.00% United States Broker Itau BBA USA Securities Inc. Real 100.00% 100.00% 100.00% 100.00% (2) (Note 3) Chilean peso Chile Financial institution 38.14% 36.06% 38.14% 36.06% Itaú CorpBanca (1) All foreign
branches and subsidiaries of ITAÚ UNIBANCO HOLDING have functional currency equal to that of the controlling entity, except for CorpBanca New York Branch, which functional currency is the dollar. (2) ITAÚ UNIBANCO HOLDING controls
ITAÚ CORPBANCA due to the shareholders’ agreement. F-16
Itaú Unibanco Holding S.A. II. Business combinations In general, a
business consists of an integrated set of activities and assets that may be conducted and managed so as to provide a direct return, as dividends, lower costs or other economic benefits, to investors or other stockholders, members or participants.
There is goodwill in a set of activities and transferred assets, it is presumed to be a business. The acquisition method is used to account for business combinations, except for those classified as under common control. The acquisition cost is
measured at the fair value of the assets transferred, equity instruments issued and liabilities incurred or assumed at the acquisition date, plus costs directly attributable to the acquisition. Acquired assets and assumed liabilities and contingent
liabilities identifiable in a business combination are initially measured at fair value at the date of acquisition, regardless of the existence of non-controlling interests. When the amount paid, plus non-controlling interests, is higher than the
fair value of identifiable net assets acquired, the difference will be account for as goodwill. On the other hand, if the difference is negative, it will be addressed as bargain purchase gain and the amount will be recognized directly in income.
III. Goodwill Goodwill is not amortized, but its recoverable amount is assessed semi-annually or when there is indication an of impairment loss event, using an approach that involves the identification of cash- generating units (CGU) and estimates
of fair value less cost to sell and/or value in use. Cash-generating units or groups are identified in the lowest level in which the goodwill is monitored for internal management purposes. Goodwill is allocated for cash flow generating units for
purposes of testing the recoverable amount. Goodwill of associates and joint ventures is reported as part of investment in the Consolidated Balance Sheet under Investments in Associates and Joint Ventures and the recoverable amount analysis is
carried out in relation to the total balance of the investments (including goodwill). IV. Capital Transactions with non-controlling stockholders IFRS 10 – Consolidated Financial Statements establishes that, changes in an ownership interest in
a subsidiary, which do not result in a loss of control, are accounted for as capital transactions and any difference between the amount paid and the carrying amount of non-controlling stockholders is recognized directly in consolidated stockholders'
equity. b) Foreign currency translation I. Functional and presentation currency The Consolidated Financial Statements of ITAÚ UNIBANCO HOLDING are presented in Brazilian Reais, which is its functional and presentation currency. For each
subsidiary and investment in associates and joint ventures, ITAÚ UNIBANCO HOLDING defined the functional currency, as the currency of the primary economic environment in which the entity operates. II. Foreign currency operations Foreign
currency operations are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses are recognized in the consolidated statement of income, unless they are related
to cash flow hedge, when they are recognized in stockholders’ equity. F-17 Itaú Unibanco Holding S.A. II. Business combinations In general, a business consists of an integrated set of activities and assets that may be conducted and
managed so as to provide a direct return, as dividends, lower costs or other economic benefits, to investors or other stockholders, members or participants. There is goodwill in a set of activities and transferred assets, it is presumed to be a
business. The acquisition method is used to account for business combinations, except for those classified as under common control. The acquisition cost is measured at the fair value of the assets transferred, equity instruments issued and
liabilities incurred or assumed at the acquisition date, plus costs directly attributable to the acquisition. Acquired assets and assumed liabilities and contingent liabilities identifiable in a business combination are initially measured at fair
value at the date of acquisition, regardless of the existence of non-controlling interests. When the amount paid, plus non-controlling interests, is higher than the fair value of identifiable net assets acquired, the difference will be account for
as goodwill. On the other hand, if the difference is negative, it will be addressed as bargain purchase gain and the amount will be recognized directly in income. III. Goodwill Goodwill is not amortized, but its recoverable amount is assessed
semi-annually or when there is indication an of impairment loss event, using an approach that involves the identification of cash- generating units (CGU) and estimates of fair value less cost to sell and/or value in use. Cash-generating units or
groups are identified in the lowest level in which the goodwill is monitored for internal management purposes. Goodwill is allocated for cash flow generating units for purposes of testing the recoverable amount. Goodwill of associates and joint
ventures is reported as part of investment in the Consolidated Balance Sheet under Investments in Associates and Joint Ventures and the recoverable amount analysis is carried out in relation to the total balance of the investments (including
goodwill). IV. Capital Transactions with non-controlling stockholders IFRS 10 – Consolidated Financial Statements establishes that, changes in an ownership interest in a subsidiary, which do not result in a loss of control, are accounted for
as capital transactions and any difference between the amount paid and the carrying amount of non-controlling stockholders is recognized directly in consolidated stockholders' equity. b) Foreign currency translation I. Functional and presentation
currency The Consolidated Financial Statements of ITAÚ UNIBANCO HOLDING are presented in Brazilian Reais, which is its functional and presentation currency. For each subsidiary and investment in associates and joint ventures, ITAÚ UNIBANCO
HOLDING defined the functional currency, as the currency of the primary economic environment in which the entity operates. II. Foreign currency operations Foreign currency operations are translated into the functional currency using the exchange
rates prevailing at the dates of the transactions. Foreign exchange gains and losses are recognized in the consolidated statement of income, unless they are related to cash flow hedge, when they are recognized in stockholders’ equity. F-17
Itaú Unibanco Holding S.A. c) Cash and cash equivalents It is defined
as cash and current accounts in banks, considered in the Consolidated Balance Sheet in the heading Cash, Interbank Deposits and Securities purchased under agreements to resell that have original maturities of up to 90 days or less. d) Financial
assets and liabilities Financial assets and liabilities are initially recognized at fair value and subsequently measured at amortized cost or fair value. I - Classification and Measurement of Financial Assets st As from January 1 , 2018, ITAÚ
UNIBANCO HOLDING applies IFRS 9 – Financial Instruments and classified its financial assets in the following measurement categories: · Amortized Cost: used when financial assets are managed to obtain contractual cash flows, constituted
solely of payments of principal and interest; · Fair Value Through Other Comprehensive Income: used when financial assets are held both for obtaining contractual cash flows, constituted solely by payments of principal and interest, and for
sale; and · Fair Value Through Profit or Loss: used for financial assets that do not meet the aforementioned criteria. The classification and subsequent measurement of financial assets depend on: · The business model under which they are
measured; · The characteristics of its cash flows (Solely Payment of Principal and Interest Test – SPPI Test). Business model: represents how financial assets are managed to generate cash flows and does not depend on the
Management’s intention regarding an individual instrument. Financial assets may be managed with the purpose of: i) obtaining contractual cash flows; ii) obtaining contractual cash flows and sale; or iii) others. To assess business models,
ITAÚ UNIBANCO HOLDING considers risks that affect the performance of business model; how business managers are compensated; and how the performance of business model is assessed and reported to Management. When the financial asset is maintained
in business models i) and ii) the application of the SPPI Test is required. SPPI Test: assessment of cash flows generated by financial instrument with the purpose of checking whether they represent solely payments of principal and interest. To fit
into this concept, cash flows should include consideration for the time value of money and credit risk. If contractual terms introduce risk exposure or cash flow volatilities, such as exposure to changes in prices of equity instruments or prices of
commodities, the financial asset is classified at fair value through profit or loss. Hybrid contracts should be assessed as a whole, including all embedded characteristics. The accounting of a hybrid contract that contains an embedded derivative is
performed on a joint basis, i.e. the whole instrument is measured at fair value through profit or loss. Amortized Cost The amortized cost is the amount through which the financial asset or liability is measured at the initial recognition, plus
updates performed using the effective interest method, less amortization of principal and interest, adjusted for any provision for expected credit loss. F-18 Itaú Unibanco Holding S.A. c) Cash and cash equivalents It is defined as cash and
current accounts in banks, considered in the Consolidated Balance Sheet in the heading Cash, Interbank Deposits and Securities purchased under agreements to resell that have original maturities of up to 90 days or less. d) Financial assets and
liabilities Financial assets and liabilities are initially recognized at fair value and subsequently measured at amortized cost or fair value. I - Classification and Measurement of Financial Assets st As from January 1 , 2018, ITAÚ UNIBANCO
HOLDING applies IFRS 9 – Financial Instruments and classified its financial assets in the following measurement categories: · Amortized Cost: used when financial assets are managed to obtain contractual cash flows, constituted solely of
payments of principal and interest; · Fair Value Through Other Comprehensive Income: used when financial assets are held both for obtaining contractual cash flows, constituted solely by payments of principal and interest, and for sale; and
· Fair Value Through Profit or Loss: used for financial assets that do not meet the aforementioned criteria. The classification and subsequent measurement of financial assets depend on: · The business model under which they are measured;
· The characteristics of its cash flows (Solely Payment of Principal and Interest Test – SPPI Test). Business model: represents how financial assets are managed to generate cash flows and does not depend on the Management’s
intention regarding an individual instrument. Financial assets may be managed with the purpose of: i) obtaining contractual cash flows; ii) obtaining contractual cash flows and sale; or iii) others. To assess business models, ITAÚ UNIBANCO
HOLDING considers risks that affect the performance of business model; how business managers are compensated; and how the performance of business model is assessed and reported to Management. When the financial asset is maintained in business models
i) and ii) the application of the SPPI Test is required. SPPI Test: assessment of cash flows generated by financial instrument with the purpose of checking whether they represent solely payments of principal and interest. To fit into this concept,
cash flows should include consideration for the time value of money and credit risk. If contractual terms introduce risk exposure or cash flow volatilities, such as exposure to changes in prices of equity instruments or prices of commodities, the
financial asset is classified at fair value through profit or loss. Hybrid contracts should be assessed as a whole, including all embedded characteristics. The accounting of a hybrid contract that contains an embedded derivative is performed on a
joint basis, i.e. the whole instrument is measured at fair value through profit or loss. Amortized Cost The amortized cost is the amount through which the financial asset or liability is measured at the initial recognition, plus updates performed
using the effective interest method, less amortization of principal and interest, adjusted for any provision for expected credit loss. F-18
Itaú Unibanco Holding S.A. Effective Interest Rate The effective
interest rate is the rate that discounts estimated future receipts or payments over the expected life of the financial asset or liability. To calculate the effective interest rate, ITAÚ UNIBANCO HOLDING estimates cash flows including all
contractual terms of the financial instrument, but does not include future credit losses. The calculation includes all commissions paid or received between parties to the contract, transaction costs, and all other premiums or discounts. The interest
revenue is calculated by applying the effective interest rate to the gross carrying amount of a financial asset. In case of purchased or originated credit impaired financial assets, the adjusted effective interest rate is applied (considers the
expected credit loss) at the amortized cost of the financial asset. Fair Value Fair value is the price that would be received for the sale of an asset or that would be paid for the transfer of a liability in a normal transaction between market
players on the measurement date. ITAÚ UNIBANCO HOLDING classifies the fair value hierarchy according to the relevance of data observed in the measurement process. Details of the fair value of financial instruments, including Derivatives, as
well as about the hierarchy of fair value are detailed in Note 28. The average cost is used to determine the gains and losses realized on disposal of financial assets at fair value, which are recorded in the Consolidated Statement of Income as
Adjustments to Fair Value of Financial Assets and Liabilities. Dividends on assets at fair value through other comprehensive income are recognized in the Consolidated Statement of Income as Dividend income when it is probable that ITAÚ UNIBANCO
HOLDING’s right to receive such dividends is established. Regular purchases and sales of financial assets are recognized and derecognized, respectively, on the trade date. Financial assets are derecognized when rights to receive cash flows
expire or when ITAÚ UNIBANCO HOLDING transfers substantially all risks and rewards of ownership, and such transfer qualifies for derecognition. Otherwise, control should be assessed to determine whether the continuous involvement related to any
retained control does not prevent derecognition. Financial assets and liabilities are offset against each other and the net amount is reported in the Balance Sheet solely when there is a legally enforceable right to offset the recognized amounts and
intention to settle them on a net basis, or simultaneously realize the asset and settle the liability. Equity Instruments An equity instrument is any contract that evidences a residual interest in an entity’s assets, after the deduction of all
its liabilities, such as Shares and Units. ITAÚ UNIBANCO HOLDING subsequently measures all its equity instruments at fair value through profit or loss, except when Management opts, in the initial recognition, for irrevocably designating an
equity instrument at fair value through other comprehensive income if it is held with a purpose other than only generating returns. When this option is selected, gains and losses on the fair value of an instrument are recognized in the Consolidated
Statement of Comprehensive Income and are not subsequently reclassified to the Consolidated Statement of Income, even in the sale. Dividends continue being recognized in the Consolidated Statement of Income when ITAÚ UNIBANCO HOLDING’s
right is established. Gains and losses on equity instruments measured at fair value through profit or loss are accounted for in the Consolidated Statement of Income. F-19 Itaú Unibanco Holding S.A. Effective Interest Rate The effective interest
rate is the rate that discounts estimated future receipts or payments over the expected life of the financial asset or liability. To calculate the effective interest rate, ITAÚ UNIBANCO HOLDING estimates cash flows including all contractual
terms of the financial instrument, but does not include future credit losses. The calculation includes all commissions paid or received between parties to the contract, transaction costs, and all other premiums or discounts. The interest revenue is
calculated by applying the effective interest rate to the gross carrying amount of a financial asset. In case of purchased or originated credit impaired financial assets, the adjusted effective interest rate is applied (considers the expected credit
loss) at the amortized cost of the financial asset. Fair Value Fair value is the price that would be received for the sale of an asset or that would be paid for the transfer of a liability in a normal transaction between market players on the
measurement date. ITAÚ UNIBANCO HOLDING classifies the fair value hierarchy according to the relevance of data observed in the measurement process. Details of the fair value of financial instruments, including Derivatives, as well as about the
hierarchy of fair value are detailed in Note 28. The average cost is used to determine the gains and losses realized on disposal of financial assets at fair value, which are recorded in the Consolidated Statement of Income as Adjustments to Fair
Value of Financial Assets and Liabilities. Dividends on assets at fair value through other comprehensive income are recognized in the Consolidated Statement of Income as Dividend income when it is probable that ITAÚ UNIBANCO HOLDING’s
right to receive such dividends is established. Regular purchases and sales of financial assets are recognized and derecognized, respectively, on the trade date. Financial assets are derecognized when rights to receive cash flows expire or when
ITAÚ UNIBANCO HOLDING transfers substantially all risks and rewards of ownership, and such transfer qualifies for derecognition. Otherwise, control should be assessed to determine whether the continuous involvement related to any retained
control does not prevent derecognition. Financial assets and liabilities are offset against each other and the net amount is reported in the Balance Sheet solely when there is a legally enforceable right to offset the recognized amounts and
intention to settle them on a net basis, or simultaneously realize the asset and settle the liability. Equity Instruments An equity instrument is any contract that evidences a residual interest in an entity’s assets, after the deduction of all
its liabilities, such as Shares and Units. ITAÚ UNIBANCO HOLDING subsequently measures all its equity instruments at fair value through profit or loss, except when Management opts, in the initial recognition, for irrevocably designating an
equity instrument at fair value through other comprehensive income if it is held with a purpose other than only generating returns. When this option is selected, gains and losses on the fair value of an instrument are recognized in the Consolidated
Statement of Comprehensive Income and are not subsequently reclassified to the Consolidated Statement of Income, even in the sale. Dividends continue being recognized in the Consolidated Statement of Income when ITAÚ UNIBANCO HOLDING’s
right is established. Gains and losses on equity instruments measured at fair value through profit or loss are accounted for in the Consolidated Statement of Income. F-19
Itaú Unibanco Holding S.A. Expected Credit Loss ITAÚ UNIBANCO
HOLDING assesses on a forward-looking basis the expected credit loss associated with financial assets measured at amortized cost or through other comprehensive income, loan commitments and financial guarantee contracts: · Financial assets: loss
is measured at present value of the difference between contractual cash flows and cash flows that ITAÚ UNIBANCO HOLDING expects to receive; · Loan commitments: expected loss is measured at present value of the difference between
contractual cash flows that would be due if the commitment was drawn down and the cash flows that ITAÚ UNIBANCO HOLDING expects to receive; · Financial guarantees: the loss is measured at the difference between the payments expected for
refunding the counterparty and the amounts that ITAÚ UNIBANCO HOLDING expects to recover. ITAÚ UNIBANCO HOLDING applies the three-stage approach to measure the expected credit loss, in which financial assets migrate from one stage to the
other in accordance with changes in credit risk. · Stage 1 – 12-month expected credit loss: represents default events possible within 12 months. Applicable to financial assets purchased or originated credit impaired financial assets;
· Stage 2 – Lifetime expected credit loss of financial instrument: considers all possible default events. Applicable to financial assets purchased or originated credit impaired financial assets and which credit risk has increased
significantly; and · Stage 3 – Credit loss expected for credit-impaired assets: considers all possible default events. Applicable to financial assets purchased or originated credit impaired financial assets. The measurement of assets
classified in this stage is different from Stage 2 due to the recognition of interest income by applying the effective interest rate at amortized cost (net of provision) rather than at the gross carrying amount. An asset will migrate from a phase as
its credit risk increases or decreases. Therefore, a financial asset that migrated to phases 2 and 3 may return to phase 1, unless it was purchased or originated credit impaired financial assets. Macroeconomic Scenarios Prospective information is
based on macroeconomic scenarios that are reassessed annually or when market conditions so require. Changes in Contractual Cash Flows When contractual cash flows of a financial asset are renegotiated or otherwise modified and this does not
substantially change its terms and conditions, ITAÚ UNIBANCO HOLDING does not derecognize it. However, the gross carrying amount of this financial asset is recalculated as the present value of contractual cash flows renegotiated or changed,
discounted at the original effective interest rate and a modification gain or loss is recognized in profit or loss. Any costs or fees incurred adjust the modified carrying amount and are amortized over the remaining term of the financial asset. If,
on the other hand, the renegotiation or change substantially modifies the terms and conditions of the financial asset, ITAÚ UNIBANCO HOLDING derecognises the original asset and recognizes a new one. Accordingly, the renegotiation date is
considered the initial recognition date of the new asset for expected credit loss calculation purposes, including to determine significant increases in credit risk. ITAÚ UNIBANCO HOLDING also assesses if the new financial asset may be
considered as purchased or originated credit impaired financial assets, particularly when the renegotiation was motivated by the debtor’s financial constraints. Differences between the carrying amount of the original asset and fair value of
the new asset are immediately recognized in the Consolidated Statement of Income. The effects of changes to cash flows of financial assets and other details about methodologies and assumptions adopted by Management to measure the allowance for
expected credit loss, including the use of prospective information, are detailed in Note 32. Transfer of Financial Assets F-20 Itaú Unibanco Holding S.A. Expected Credit Loss ITAÚ UNIBANCO HOLDING assesses on a forward-looking basis the
expected credit loss associated with financial assets measured at amortized cost or through other comprehensive income, loan commitments and financial guarantee contracts: · Financial assets: loss is measured at present value of the difference
between contractual cash flows and cash flows that ITAÚ UNIBANCO HOLDING expects to receive; · Loan commitments: expected loss is measured at present value of the difference between contractual cash flows that would be due if the
commitment was drawn down and the cash flows that ITAÚ UNIBANCO HOLDING expects to receive; · Financial guarantees: the loss is measured at the difference between the payments expected for refunding the counterparty and the amounts that
ITAÚ UNIBANCO HOLDING expects to recover. ITAÚ UNIBANCO HOLDING applies the three-stage approach to measure the expected credit loss, in which financial assets migrate from one stage to the other in accordance with changes in credit risk.
· Stage 1 – 12-month expected credit loss: represents default events possible within 12 months. Applicable to financial assets purchased or originated credit impaired financial assets; · Stage 2 – Lifetime expected credit loss
of financial instrument: considers all possible default events. Applicable to financial assets purchased or originated credit impaired financial assets and which credit risk has increased significantly; and · Stage 3 – Credit loss
expected for credit-impaired assets: considers all possible default events. Applicable to financial assets purchased or originated credit impaired financial assets. The measurement of assets classified in this stage is different from Stage 2 due to
the recognition of interest income by applying the effective interest rate at amortized cost (net of provision) rather than at the gross carrying amount. An asset will migrate from a phase as its credit risk increases or decreases. Therefore, a
financial asset that migrated to phases 2 and 3 may return to phase 1, unless it was purchased or originated credit impaired financial assets. Macroeconomic Scenarios Prospective information is based on macroeconomic scenarios that are reassessed
annually or when market conditions so require. Changes in Contractual Cash Flows When contractual cash flows of a financial asset are renegotiated or otherwise modified and this does not substantially change its terms and conditions, ITAÚ
UNIBANCO HOLDING does not derecognize it. However, the gross carrying amount of this financial asset is recalculated as the present value of contractual cash flows renegotiated or changed, discounted at the original effective interest rate and a
modification gain or loss is recognized in profit or loss. Any costs or fees incurred adjust the modified carrying amount and are amortized over the remaining term of the financial asset. If, on the other hand, the renegotiation or change
substantially modifies the terms and conditions of the financial asset, ITAÚ UNIBANCO HOLDING derecognises the original asset and recognizes a new one. Accordingly, the renegotiation date is considered the initial recognition date of the new
asset for expected credit loss calculation purposes, including to determine significant increases in credit risk. ITAÚ UNIBANCO HOLDING also assesses if the new financial asset may be considered as purchased or originated credit impaired
financial assets, particularly when the renegotiation was motivated by the debtor’s financial constraints. Differences between the carrying amount of the original asset and fair value of the new asset are immediately recognized in the
Consolidated Statement of Income. The effects of changes to cash flows of financial assets and other details about methodologies and assumptions adopted by Management to measure the allowance for expected credit loss, including the use of
prospective information, are detailed in Note 32. Transfer of Financial Assets F-20
Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING derecognizes a
financial asset, or a portion of a financial asset, from its Balance sheet when it transfers substantially all the risks and rewards of ownership of the financial asset. If ITAÚ UNIBANCO HOLDING neither transfers nor retains substantially all
the risks and rewards of ownership of the financial asset, it determines whether was retained control of the financial asset. When ITAÚ UNIBANCO HOLDING retains control, it continues to recognize the financial asset to the extent of its
continuing involvement in the financial asset and consideration received is accounted for as a financial liability. II – Classification and Measurement of Financial Liabilities Financial liabilities are initially recognized at fair value and
subsequently measures at amortized cost, except for: · Financial Liabilities at Fair Value Through Profit or Loss: classification applied to derivatives and other financial liabilities designated at fair value through profit or loss to reduce
“accounting mismatches”. ITAÚ UNIBANCO HOLDING irrevocably designates financial liabilities at fair value through profit or loss in the initial recognition (fair value option), when the option eliminates or significantly reduces
measurement or recognition inconsistencies. · Loan Commitments and Financial Guarantees, as detailed in Note 2.4d Vll. Derecognition and Change of Financial Liabilities ITAÚ UNIBANCO HOLDING derecognition a financial liability from the
Consolidated Balance Sheet when it is extinguished, i.e., when the obligation specified in the contract is discharged, cancelled or expires. A debt instrument change or substantial terms modification of a financial liability is accounted as a
derecognition of the original financial liability and a new one is recognized. A substantial change to contractual terms occurs when the present value of cash flow discount under the new terms, including any rates paid/received and discounted using
the original effective interest rate, is at least 10% different from discounted present value of cash flow remaining from original financial liabilities. III – Securities purchased under agreements to resell ITAÚ UNIBANCO HOLDING has
purchased securities with resale agreement (resale agreements), and sold securities with repurchase agreement (repurchase agreement) of financial assets. Resale and repurchase agreements are accounted for under Securities purchased under agreements
to resell and Securities sold under repurchase agreements, respectively. The difference between the sale and repurchase prices is treated as interest and recognized over the life of the agreements using the effective interest rate method. The
financial assets accepted as collateral in our resale agreements can be used by us, if provided for in the agreements, as collateral for our repurchase agreements or can be sold. IV - Derivatives All derivatives are accounted for as financial assets
when the fair value is positive and as financial liabilities when the fair value is negative. The assessment of active hybrid contracts that are in the scope of IFRS 9 is carried out as a whole, including all embedded characteristics, whereas the
accounting is carried out on a joint basis, i.e. the whole instrument is measured at fair value through profit or loss. When a contract has a host component outside the scope of IFRS 9, such as a lease agreement receivable or an insurance contract,
or even a financial liability, embedded derivatives are treated as separate financial instruments if: F-21 Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING derecognizes a financial asset, or a portion of a financial asset, from its Balance
sheet when it transfers substantially all the risks and rewards of ownership of the financial asset. If ITAÚ UNIBANCO HOLDING neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset, it
determines whether was retained control of the financial asset. When ITAÚ UNIBANCO HOLDING retains control, it continues to recognize the financial asset to the extent of its continuing involvement in the financial asset and consideration
received is accounted for as a financial liability. II – Classification and Measurement of Financial Liabilities Financial liabilities are initially recognized at fair value and subsequently measures at amortized cost, except for: ·
Financial Liabilities at Fair Value Through Profit or Loss: classification applied to derivatives and other financial liabilities designated at fair value through profit or loss to reduce “accounting mismatches”. ITAÚ UNIBANCO
HOLDING irrevocably designates financial liabilities at fair value through profit or loss in the initial recognition (fair value option), when the option eliminates or significantly reduces measurement or recognition inconsistencies. · Loan
Commitments and Financial Guarantees, as detailed in Note 2.4d Vll. Derecognition and Change of Financial Liabilities ITAÚ UNIBANCO HOLDING derecognition a financial liability from the Consolidated Balance Sheet when it is extinguished, i.e.,
when the obligation specified in the contract is discharged, cancelled or expires. A debt instrument change or substantial terms modification of a financial liability is accounted as a derecognition of the original financial liability and a new one
is recognized. A substantial change to contractual terms occurs when the present value of cash flow discount under the new terms, including any rates paid/received and discounted using the original effective interest rate, is at least 10% different
from discounted present value of cash flow remaining from original financial liabilities. III – Securities purchased under agreements to resell ITAÚ UNIBANCO HOLDING has purchased securities with resale agreement (resale agreements), and
sold securities with repurchase agreement (repurchase agreement) of financial assets. Resale and repurchase agreements are accounted for under Securities purchased under agreements to resell and Securities sold under repurchase agreements,
respectively. The difference between the sale and repurchase prices is treated as interest and recognized over the life of the agreements using the effective interest rate method. The financial assets accepted as collateral in our resale agreements
can be used by us, if provided for in the agreements, as collateral for our repurchase agreements or can be sold. IV - Derivatives All derivatives are accounted for as financial assets when the fair value is positive and as financial liabilities
when the fair value is negative. The assessment of active hybrid contracts that are in the scope of IFRS 9 is carried out as a whole, including all embedded characteristics, whereas the accounting is carried out on a joint basis, i.e. the whole
instrument is measured at fair value through profit or loss. When a contract has a host component outside the scope of IFRS 9, such as a lease agreement receivable or an insurance contract, or even a financial liability, embedded derivatives are
treated as separate financial instruments if: F-21
Itaú Unibanco Holding S.A. (i) Respective characteristics and
economic risks are not closely related to those of the main component; (ii) the separate instrument meets the definition of derivative; and (iii) the underlying instrument is not account for at fair value through profit or loss. These embedded
derivatives are accounted for separately at fair value, with variations recognized in the Consolidated Statement of Income as Adjustments to Fair Value of Financial Assets and Liabilities. ITAÚ UNIBANCO HOLDING will continue applying all
accounting hedge requirements set forth in IAS 39; however, it may adopt the requirements of IFRS 9, according to the Management’s decision. According to this standard, derivatives may be designated and qualified as hedge instruments for
accounting purposes and, depending on the nature of the hedged item, the method for recognizing gains or losses of fair value will be different. ITAÚ UNIBANCO HOLDING documents, in the beginning of the hedge transaction, the relationship
between hedge instruments and protected items, as well as its management risk purpose and strategy. Hedge is assessed on an ongoing basis and it is determined as having been highly effective throughout all periods of the Financial Statements for
which it was designated. IAS 39 presents three hedge strategies: fair value hedge, cash flow hedge, and hedge of net investments in a foreign operation. ITAÚ UNIBANCO HOLDING uses derivatives as hedging instruments under the three hedge
strategies, as detailed in Note 7. Fair value hedge The following practices are adopted for these operations: a) The gain or loss arising from the new measurement of the hedge instrument at fair value should be recognized in income; and b) The gain
or loss arising from the hedged item, attributable to the effective portion of the hedged risk, should adjust the book value of the hedged item and also be recognized in income. When the derivative expires or is sold or the hedge no longer meets the
accounting hedge criteria or in the event the designation is revoked, the accounting hedge should be prospectively discontinued. In addition, any adjustment in the book value of the hedged item should be amortized in income. Cash flow hedge For
derivatives that are designated and qualify as a cash flow hedge, the effective portion of derivative gains or losses are recognized in Other comprehensive income – Cash flow hedge, and reclassified to Income in the same period or periods in
which the hedged transaction affects income. The portion of gain or loss on derivatives that represents the ineffective portion or the hedge components excluded from the assessment of effectiveness is recognized immediately in income. Amounts
originally recorded in Other comprehensive income and subsequently reclassified to Income are recorded in the corresponding income or expense lines corresponding to the hedged item. When the derivative expires or is sold, when the hedge no longer
meets the accounting hedge criteria or when the entity revokes the designation, any cumulative gain or loss existing in Other comprehensive income should be kept recognized in stockholders’ equity until the expected transaction occurs or is no
longer expected to occur, when the hedged item is ultimately recognized in the income statement. When a forecast transaction is no longer expected to occur, the cumulative gain or loss recognized in Other Comprehensive Income is immediately
transferred to the statement of income. Hedge of net investments in foreign operations The hedge of a net investment in a foreign operation, including hedge of a monetary item that is accounted for as part of the net investment, is accounted for in
a manner similar to a cash flow hedge: a) The portion of gain or loss on the hedge instrument determined as effective is recognized in other comprehensive income; b) The ineffective portion is recognized in income. F-22 Itaú Unibanco Holding
S.A. (i) Respective characteristics and economic risks are not closely related to those of the main component; (ii) the separate instrument meets the definition of derivative; and (iii) the underlying instrument is not account for at fair value
through profit or loss. These embedded derivatives are accounted for separately at fair value, with variations recognized in the Consolidated Statement of Income as Adjustments to Fair Value of Financial Assets and Liabilities. ITAÚ UNIBANCO
HOLDING will continue applying all accounting hedge requirements set forth in IAS 39; however, it may adopt the requirements of IFRS 9, according to the Management’s decision. According to this standard, derivatives may be designated and
qualified as hedge instruments for accounting purposes and, depending on the nature of the hedged item, the method for recognizing gains or losses of fair value will be different. ITAÚ UNIBANCO HOLDING documents, in the beginning of the hedge
transaction, the relationship between hedge instruments and protected items, as well as its management risk purpose and strategy. Hedge is assessed on an ongoing basis and it is determined as having been highly effective throughout all periods of
the Financial Statements for which it was designated. IAS 39 presents three hedge strategies: fair value hedge, cash flow hedge, and hedge of net investments in a foreign operation. ITAÚ UNIBANCO HOLDING uses derivatives as hedging instruments
under the three hedge strategies, as detailed in Note 7. Fair value hedge The following practices are adopted for these operations: a) The gain or loss arising from the new measurement of the hedge instrument at fair value should be recognized in
income; and b) The gain or loss arising from the hedged item, attributable to the effective portion of the hedged risk, should adjust the book value of the hedged item and also be recognized in income. When the derivative expires or is sold or the
hedge no longer meets the accounting hedge criteria or in the event the designation is revoked, the accounting hedge should be prospectively discontinued. In addition, any adjustment in the book value of the hedged item should be amortized in
income. Cash flow hedge For derivatives that are designated and qualify as a cash flow hedge, the effective portion of derivative gains or losses are recognized in Other comprehensive income – Cash flow hedge, and reclassified to Income in the
same period or periods in which the hedged transaction affects income. The portion of gain or loss on derivatives that represents the ineffective portion or the hedge components excluded from the assessment of effectiveness is recognized immediately
in income. Amounts originally recorded in Other comprehensive income and subsequently reclassified to Income are recorded in the corresponding income or expense lines corresponding to the hedged item. When the derivative expires or is sold, when the
hedge no longer meets the accounting hedge criteria or when the entity revokes the designation, any cumulative gain or loss existing in Other comprehensive income should be kept recognized in stockholders’ equity until the expected transaction
occurs or is no longer expected to occur, when the hedged item is ultimately recognized in the income statement. When a forecast transaction is no longer expected to occur, the cumulative gain or loss recognized in Other Comprehensive Income is
immediately transferred to the statement of income. Hedge of net investments in foreign operations The hedge of a net investment in a foreign operation, including hedge of a monetary item that is accounted for as part of the net investment, is
accounted for in a manner similar to a cash flow hedge: a) The portion of gain or loss on the hedge instrument determined as effective is recognized in other comprehensive income; b) The ineffective portion is recognized in income. F-22
Itaú Unibanco Holding S.A. Gains or losses on the hedging instrument
related to the effective portion of the hedge which is recognized in comprehensive income is reclassified to income for the period when the foreign operation is partially or totally sold. V - Loan operations ITAÚ UNIBANCO HOLDING classifies a
loan operation as on non-accrual status if the payment of the principal or interest has been in default for 60 days or more. In this case, accrual of interest is no longer recognized. VI - Capitalization plans In Brazil they are regulated by the
insurance regulator. These plans do not meet the definition of an insurance contract under IFRS 4, and therefore they are classified as a financial liability at amortized cost under IFRS 9. Revenue from capitalization plans is recognized during the
period of the contract and measured as the difference between the amount deposited by the client and the amount that ITAÚ UNIBANCO HOLDING has to reimburse. VII – Loan Commitments and Financial Guarantees ITAÚ UNIBANCO HOLDING
recognizes in the Consolidated Balance Sheet, as an obligation, on the issue date, the fair value of loan commitments and financial guarantees. The fair value is generally represented by the fee charged from the client. This amount is amortized for
the instrument term and is recognized in the Consolidated Statement of Income in the heading Banking service fees. After the issue, based on the best estimate, if ITAÚ UNIBANCO HOLDING concludes that the credit loss expected in relation to the
guarantee issued is higher that the fair value less accumulated amortization, this amount is replaced by a provision for loss. e) Investments in associates and joint ventures I – Associates Associates are companies in which the investor has a
significant influence but does not hold control. Investments in these companies are initially recognized at cost of acquisition and subsequently accounted for using the equity method. Investments in associates and joint ventures include the goodwill
identified upon acquisition, net of any cumulative impairment loss. II – Joint arrangements ITAÚ UNIBANCO HOLDING defines a joint arrangements when it is entitled to rights and obligations for liabilities related to the business.
ITAÚ UNIBANCO HOLDING’s share in profits or losses of its associates and joint ventures after acquisition is recognized in the Consolidated statement of income. Its share of the changes in the share in OCI of corresponding
stockholders’ equity of its associates and joint ventures is recognized in its own reserves of stockholders’ equity. The cumulative changes after acquisition are adjusted against the carrying amount of the investment. When the ITAÚ
UNIBANCO HOLDING share of losses of an associates and joint ventures is equal or above its interest in the associates and joint ventures, including any other receivables, ITAÚ UNIBANCO HOLDING does not recognize additional losses, unless it has
incurred any obligations or made payments on behalf of the associates and joint ventures. Unrealized profits on transactions between ITAÚ UNIBANCO HOLDING and its associates and joint ventures are eliminated to the extent of the interest of
ITAÚ UNIBANCO HOLDING. Unrealized losses are also eliminated, unless the transaction provides evidence of impairment of the transferred asset. The accounting policies on associates and joint ventures are consistent with the policies adopted by
ITAÚ UNIBANCO HOLDING. If the interest in the associates and joint ventures decreases, but ITAÚ UNIBANCO HOLDING retains significant influence or joint control, only the proportional amount of the previously recognized amounts in Other
comprehensive income is reclassified in Income, when appropriate. F-23 Itaú Unibanco Holding S.A. Gains or losses on the hedging instrument related to the effective portion of the hedge which is recognized in comprehensive income is
reclassified to income for the period when the foreign operation is partially or totally sold. V - Loan operations ITAÚ UNIBANCO HOLDING classifies a loan operation as on non-accrual status if the payment of the principal or interest has been
in default for 60 days or more. In this case, accrual of interest is no longer recognized. VI - Capitalization plans In Brazil they are regulated by the insurance regulator. These plans do not meet the definition of an insurance contract under IFRS
4, and therefore they are classified as a financial liability at amortized cost under IFRS 9. Revenue from capitalization plans is recognized during the period of the contract and measured as the difference between the amount deposited by the client
and the amount that ITAÚ UNIBANCO HOLDING has to reimburse. VII – Loan Commitments and Financial Guarantees ITAÚ UNIBANCO HOLDING recognizes in the Consolidated Balance Sheet, as an obligation, on the issue date, the fair value of
loan commitments and financial guarantees. The fair value is generally represented by the fee charged from the client. This amount is amortized for the instrument term and is recognized in the Consolidated Statement of Income in the heading Banking
service fees. After the issue, based on the best estimate, if ITAÚ UNIBANCO HOLDING concludes that the credit loss expected in relation to the guarantee issued is higher that the fair value less accumulated amortization, this amount is replaced
by a provision for loss. e) Investments in associates and joint ventures I – Associates Associates are companies in which the investor has a significant influence but does not hold control. Investments in these companies are initially
recognized at cost of acquisition and subsequently accounted for using the equity method. Investments in associates and joint ventures include the goodwill identified upon acquisition, net of any cumulative impairment loss. II – Joint
arrangements ITAÚ UNIBANCO HOLDING defines a joint arrangements when it is entitled to rights and obligations for liabilities related to the business. ITAÚ UNIBANCO HOLDING’s share in profits or losses of its associates and joint
ventures after acquisition is recognized in the Consolidated statement of income. Its share of the changes in the share in OCI of corresponding stockholders’ equity of its associates and joint ventures is recognized in its own reserves of
stockholders’ equity. The cumulative changes after acquisition are adjusted against the carrying amount of the investment. When the ITAÚ UNIBANCO HOLDING share of losses of an associates and joint ventures is equal or above its interest
in the associates and joint ventures, including any other receivables, ITAÚ UNIBANCO HOLDING does not recognize additional losses, unless it has incurred any obligations or made payments on behalf of the associates and joint ventures.
Unrealized profits on transactions between ITAÚ UNIBANCO HOLDING and its associates and joint ventures are eliminated to the extent of the interest of ITAÚ UNIBANCO HOLDING. Unrealized losses are also eliminated, unless the transaction
provides evidence of impairment of the transferred asset. The accounting policies on associates and joint ventures are consistent with the policies adopted by ITAÚ UNIBANCO HOLDING. If the interest in the associates and joint ventures
decreases, but ITAÚ UNIBANCO HOLDING retains significant influence or joint control, only the proportional amount of the previously recognized amounts in Other comprehensive income is reclassified in Income, when appropriate. F-23
Itaú Unibanco Holding S.A. f) Commitments as lessee operations
ITAÚ UNIBANCO HOLDING leases mainly real estate properties (underlying assets) to carry out its business activities. The ignition recognition occurs when the agreement is signed, in the heading Other Liabilities, which corresponds to the total
future payments at present value as a contra entry to the Right- of-Use Assets, depreciated under the straight-line method for the lease term and tested half-yearly to identify possible impairment losses. The financial expense corresponding to
interest on lease liabilities is recognized in the heading Interest and Similar Expense in the Consolidated Statement of Income. g) Fixed assets Fixed assets are recognized at cost of acquisition less accumulated depreciation, and adjusted for
impairment, if applicable. Depreciation is calculated using the straight-line method and rates based on the estimated useful lives of these assets. These rates and other information are presented in Note 13. The residual values and useful lives of
assets are reviewed and adjusted, if appropriate, at the end of each period. ITAÚ UNIBANCO HOLDING reviews its assets in order to identify whether any indications of impairment exist. The recoverable amount of an asset is defined as the higher
of its fair value less costs to sell and its value in use. For purposes of assessing impairment, assets are grouped at the lowest level for which independent cash flows can be identified (cash-generating units). The assessment may be made at an
individual asset level when the fair value less the cost to sell may be reliably determined. Gains and losses on disposals of fixed assets are recognized in the Consolidated statement of income under Other income or General and administrative
expenses. h) Intangible assets Intangible assets are non-physical assets, including software and other assets, and are initially recognized at cost. Intangible assets are recognized when they arise from legal or contractual rights, their costs can
be reliably measured, and in the case of intangible assets not arising from separate acquisitions or business combinations, it is probable that future economic benefits may arise from their use. The balance of intangible assets refers to acquired
assets or those internally generated. Intangible assets may have finite or indefinite useful lives. Intangible assets with finite useful lives are amortized using the straight-line method over their estimated useful lives. Intangible assets with
indefinite useful lives are not amortized, but periodically tested in order to identify any impairment. ITAÚ UNIBANCO HOLDING semi-annually assesses its intangible assets in order to identify whether any indications of impairment exist, as well
as possible reversal of previous impairment losses. If such indications are found, intangible assets are tested for impairment. The recoverable amount of an asset is defined as the higher of its fair value less costs to sell and its value in use.
For purposes of assessing impairment, assets are grouped at the lowest level for which independent cash flows can be identified (cash-generating units). The assessment may be made at an individual asset level when the fair value less the cost to
sell may be reliably determined. ITAÚ UNIBANCO HOLDING elected the cost model to measure its intangible assets after its initial recognition. F-24 Itaú Unibanco Holding S.A. f) Commitments as lessee operations ITAÚ UNIBANCO HOLDING
leases mainly real estate properties (underlying assets) to carry out its business activities. The ignition recognition occurs when the agreement is signed, in the heading Other Liabilities, which corresponds to the total future payments at present
value as a contra entry to the Right- of-Use Assets, depreciated under the straight-line method for the lease term and tested half-yearly to identify possible impairment losses. The financial expense corresponding to interest on lease liabilities is
recognized in the heading Interest and Similar Expense in the Consolidated Statement of Income. g) Fixed assets Fixed assets are recognized at cost of acquisition less accumulated depreciation, and adjusted for impairment, if applicable.
Depreciation is calculated using the straight-line method and rates based on the estimated useful lives of these assets. These rates and other information are presented in Note 13. The residual values and useful lives of assets are reviewed and
adjusted, if appropriate, at the end of each period. ITAÚ UNIBANCO HOLDING reviews its assets in order to identify whether any indications of impairment exist. The recoverable amount of an asset is defined as the higher of its fair value less
costs to sell and its value in use. For purposes of assessing impairment, assets are grouped at the lowest level for which independent cash flows can be identified (cash-generating units). The assessment may be made at an individual asset level when
the fair value less the cost to sell may be reliably determined. Gains and losses on disposals of fixed assets are recognized in the Consolidated statement of income under Other income or General and administrative expenses. h) Intangible assets
Intangible assets are non-physical assets, including software and other assets, and are initially recognized at cost. Intangible assets are recognized when they arise from legal or contractual rights, their costs can be reliably measured, and in the
case of intangible assets not arising from separate acquisitions or business combinations, it is probable that future economic benefits may arise from their use. The balance of intangible assets refers to acquired assets or those internally
generated. Intangible assets may have finite or indefinite useful lives. Intangible assets with finite useful lives are amortized using the straight-line method over their estimated useful lives. Intangible assets with indefinite useful lives are
not amortized, but periodically tested in order to identify any impairment. ITAÚ UNIBANCO HOLDING semi-annually assesses its intangible assets in order to identify whether any indications of impairment exist, as well as possible reversal of
previous impairment losses. If such indications are found, intangible assets are tested for impairment. The recoverable amount of an asset is defined as the higher of its fair value less costs to sell and its value in use. For purposes of assessing
impairment, assets are grouped at the lowest level for which independent cash flows can be identified (cash-generating units). The assessment may be made at an individual asset level when the fair value less the cost to sell may be reliably
determined. ITAÚ UNIBANCO HOLDING elected the cost model to measure its intangible assets after its initial recognition. F-24
Itaú Unibanco Holding S.A. The breakdown of intangible assets is
described in Note 14. i) Assets held for sale Assets held for sale are recognized in the consolidated balance sheet under the line Other assets when they are actually repossessed or there is intention to sell. These assets are initially recorded at
the lower of: (i) the fair value of the asset less the estimated selling expenses, or (ii) the carrying amount of the related asset held for sale. j) Income tax and social contribution There are two components of the provision for income tax and
social contribution: current and deferred. Current income tax expense approximates taxes to be paid or recovered for the applicable period. Deferred income tax and social contribution, represented by deferred tax assets and liabilities, are obtained
based on the differences between the tax bases of assets and liabilities and the amounts reported in the financial statements at each year end. Income tax and social contribution expense is recognized in the Consolidated statement of income under
Income tax and social contribution, except when it refers to items directly recognized in Other comprehensive income, such as: tax on fair value of financial assets measured at fair value through other comprehensive income, post-employment benefits
and tax on cash flow hedges and hedge of net investment in foreign operations. Subsequently, these items are recognized in income in the realization of gain/loss of instruments. Changes in tax legislation and rates are recognized in the Consolidated
statement of income in the period in which they are enacted. Interest and fines are recognized in the Consolidated statement of income under General and administrative expenses. To determine the proper level of provisions for taxes to be maintained
for uncertain tax positions, a approach was applied, according to which a tax benefit is recognized if it is more likely than not that a position can be sustained, following assumptions of recognition, detailed item 2.4 n. k) Insurance contracts and
private pension Insurance contracts are contracts under which ITAÚ UNIBANCO HOLDING accepts a significant insurance risk of the counterparty, by agreeing to compensate it if a specified uncertain future event adversely affects it. An insurance
risk is significant only if the insurance event could cause ITAÚ UNIBANCO HOLDING to pay significant additional benefits in any scenario, except for those that do not have commercial substance. Additional benefits refer to amounts that exceed
those that would be payable if no insured event occurred. At the time of the first-time adoption of IFRS, ITAÚ UNIBANCO HOLDING decided not to change its accounting policies for insurance contracts, which follow the accounting practices
generally accepted in Brazil (“BRGAAP”). Although investment agreements with discretionary participation characteristics are financial instruments, they are treated as insurance contracts, as established by IFRS 4, as well as those
transferring a significant financial risk. Once the contract is classified as an insurance contract, it remains as such until the end of its life, even if the insurance risk is significantly reduced during such period, unless all rights and
obligations are extinguished or expired. Note 27 presents a detailed description of all products classified as insurance contracts. Private pension plans Contracts that contemplate retirement benefits after an accumulation period (known as PGBL,
VGBL and FGB) assure, at the commencement date of the contract, the basis for calculating the retirement benefit (mortality table and minimum interest). The contracts specify the annuity fees and, therefore, the contract transfers the insurance risk
to the issuer at the commencement date, and they are classified as insurance contracts. F-25 Itaú Unibanco Holding S.A. The breakdown of intangible assets is described in Note 14. i) Assets held for sale Assets held for sale are recognized in
the consolidated balance sheet under the line Other assets when they are actually repossessed or there is intention to sell. These assets are initially recorded at the lower of: (i) the fair value of the asset less the estimated selling expenses, or
(ii) the carrying amount of the related asset held for sale. j) Income tax and social contribution There are two components of the provision for income tax and social contribution: current and deferred. Current income tax expense approximates taxes
to be paid or recovered for the applicable period. Deferred income tax and social contribution, represented by deferred tax assets and liabilities, are obtained based on the differences between the tax bases of assets and liabilities and the amounts
reported in the financial statements at each year end. Income tax and social contribution expense is recognized in the Consolidated statement of income under Income tax and social contribution, except when it refers to items directly recognized in
Other comprehensive income, such as: tax on fair value of financial assets measured at fair value through other comprehensive income, post-employment benefits and tax on cash flow hedges and hedge of net investment in foreign operations.
Subsequently, these items are recognized in income in the realization of gain/loss of instruments. Changes in tax legislation and rates are recognized in the Consolidated statement of income in the period in which they are enacted. Interest and
fines are recognized in the Consolidated statement of income under General and administrative expenses. To determine the proper level of provisions for taxes to be maintained for uncertain tax positions, a approach was applied, according to which a
tax benefit is recognized if it is more likely than not that a position can be sustained, following assumptions of recognition, detailed item 2.4 n. k) Insurance contracts and private pension Insurance contracts are contracts under which ITAÚ
UNIBANCO HOLDING accepts a significant insurance risk of the counterparty, by agreeing to compensate it if a specified uncertain future event adversely affects it. An insurance risk is significant only if the insurance event could cause ITAÚ
UNIBANCO HOLDING to pay significant additional benefits in any scenario, except for those that do not have commercial substance. Additional benefits refer to amounts that exceed those that would be payable if no insured event occurred. At the time
of the first-time adoption of IFRS, ITAÚ UNIBANCO HOLDING decided not to change its accounting policies for insurance contracts, which follow the accounting practices generally accepted in Brazil (“BRGAAP”). Although investment
agreements with discretionary participation characteristics are financial instruments, they are treated as insurance contracts, as established by IFRS 4, as well as those transferring a significant financial risk. Once the contract is classified as
an insurance contract, it remains as such until the end of its life, even if the insurance risk is significantly reduced during such period, unless all rights and obligations are extinguished or expired. Note 27 presents a detailed description of
all products classified as insurance contracts. Private pension plans Contracts that contemplate retirement benefits after an accumulation period (known as PGBL, VGBL and FGB) assure, at the commencement date of the contract, the basis for
calculating the retirement benefit (mortality table and minimum interest). The contracts specify the annuity fees and, therefore, the contract transfers the insurance risk to the issuer at the commencement date, and they are classified as insurance
contracts. F-25
Itaú Unibanco Holding S.A. Insurance premiums Insurance premiums are
recognized by issuing an insurance policy or over the period of the contracts in proportion to the amount of the insurance coverage. If there is evidence of impairment losses with respect to receivables for insurance premiums, ITAÚ UNIBANCO
HOLDING recognizes a provision, sufficient to cover this loss, based on the risk analysis of realization of insurance premiums receivable with installments overdue for over 60 days. Reinsurance In the ordinary course of business, ITAÚ UNIBANCO
HOLDING reinsures a portion of the risks underwritten, particularly property and casualty risks that exceed the maximum limits of responsibility that we determine to be appropriate for each segment and product (after a study which considers size,
experience, specificities, and the necessary capital to support these limits). These reinsurance agreements allow the recovery of a portion of the losses from the reinsurer, although they do not release the insurer from the main obligation as direct
insurer of the risks contemplated in the reinsurance. O ITAÚ UNIBANCO HOLDING basically holds non-proportional contracts, which transfer part of responsibility to the reinsurance company for losses that will materialize after a certain level of
claims in the portfolio. Reinsurance premiums of these contracts are accounted for under Other Assets, according to contractual effectiveness. If there is any evidence of impairment loss, ITAÚ UNIBANCO HOLDING recognizes a provision when the
default period exceeds 180 days as from the credit record related to refund of claims paid. Acquisition costs Acquisition costs include direct and indirect costs related to the origination of insurance. These costs and recorded directly in result as
incurred, expect for deferred acquisition costs (commissions paid for brokerage services, agency and prospecting efforts), which are recorded proportionally to the recognition of premium revenues, i.e. for the term corresponding to the insurance
contract. Insurance Contract Liabilities Reserves for claims are established based on historical experience, claims in process of payment, estimated amounts of claims incurred but not yet reported, and other factors relevant to the required reserve
levels. Liability Adequacy Test ITAÚ UNIBANCO HOLDING conducts the liability adequacy test by adopting current actuarial assumptions for future cash flows of all insurance contracts in force at the balance sheet date. Should the analysis show
insufficiency, any deficiency identified will be accounted for in income for the period. The assumptions used to conduct the liability adequacy test are detailed in Note 27. l) Post-employments benefits ITAÚ UNIBANCO HOLDING sponsors Defined
Benefit Plans and Defined Contribution Plans, accounted for in accordance with IAS 19 – Benefits to Employees. ITAÚ UNIBANCO HOLDING is required to make contributions to government social security and labor indemnity plans, in Brazil and
in other countries where it operates. F-26 Itaú Unibanco Holding S.A. Insurance premiums Insurance premiums are recognized by issuing an insurance policy or over the period of the contracts in proportion to the amount of the insurance coverage.
If there is evidence of impairment losses with respect to receivables for insurance premiums, ITAÚ UNIBANCO HOLDING recognizes a provision, sufficient to cover this loss, based on the risk analysis of realization of insurance premiums
receivable with installments overdue for over 60 days. Reinsurance In the ordinary course of business, ITAÚ UNIBANCO HOLDING reinsures a portion of the risks underwritten, particularly property and casualty risks that exceed the maximum limits
of responsibility that we determine to be appropriate for each segment and product (after a study which considers size, experience, specificities, and the necessary capital to support these limits). These reinsurance agreements allow the recovery of
a portion of the losses from the reinsurer, although they do not release the insurer from the main obligation as direct insurer of the risks contemplated in the reinsurance. O ITAÚ UNIBANCO HOLDING basically holds non-proportional contracts,
which transfer part of responsibility to the reinsurance company for losses that will materialize after a certain level of claims in the portfolio. Reinsurance premiums of these contracts are accounted for under Other Assets, according to
contractual effectiveness. If there is any evidence of impairment loss, ITAÚ UNIBANCO HOLDING recognizes a provision when the default period exceeds 180 days as from the credit record related to refund of claims paid. Acquisition costs
Acquisition costs include direct and indirect costs related to the origination of insurance. These costs and recorded directly in result as incurred, expect for deferred acquisition costs (commissions paid for brokerage services, agency and
prospecting efforts), which are recorded proportionally to the recognition of premium revenues, i.e. for the term corresponding to the insurance contract. Insurance Contract Liabilities Reserves for claims are established based on historical
experience, claims in process of payment, estimated amounts of claims incurred but not yet reported, and other factors relevant to the required reserve levels. Liability Adequacy Test ITAÚ UNIBANCO HOLDING conducts the liability adequacy test
by adopting current actuarial assumptions for future cash flows of all insurance contracts in force at the balance sheet date. Should the analysis show insufficiency, any deficiency identified will be accounted for in income for the period. The
assumptions used to conduct the liability adequacy test are detailed in Note 27. l) Post-employments benefits ITAÚ UNIBANCO HOLDING sponsors Defined Benefit Plans and Defined Contribution Plans, accounted for in accordance with IAS 19 –
Benefits to Employees. ITAÚ UNIBANCO HOLDING is required to make contributions to government social security and labor indemnity plans, in Brazil and in other countries where it operates. F-26
Itaú Unibanco Holding S.A. Pension plans - Defined benefit plans The
liability or asset, as the case, is recognized in the Consolidated Balance Sheet with respect to the defined benefit plan corresponds to the present value of defined benefit obligations at the balance sheet date less the fair value of plan assets.
Defined benefit obligations are calculated on a yearly basis by an independent actuarial advisor based on the projected unit credit method. Pension plans - defined contribution For defined contribution plans, contributions to plans made by ITAÚ
UNIBANCO HOLDING, through pension plan funds, are recognized as a liabilities as a contra entry to expense, when due. If contributions made exceed the liability for a service provided, it will be accounted for as an asset recognized at fair value,
and possible remeasurements are recognized in Other Comprehensive Income, in the period they occur. Other post-employment benefit obligations Likewise the defined benefit pension plans, these obligations are assessed annually by independent and
qualified actuaries, and costs expected from these benefits are accumulated during the employment period and gains and losses arising from adjustments of practices and changes in actuarial assumptions are recognized in Stockholders’ equity,
under Other comprehensive income, in the period they occurred. m) Share-based payment Share-based payments are accounted for in accordance with the amount of equity instruments granted, and they may be shares or stock options according to the plan,
based on their fair value at the grant date. This cost is recognized during the vesting period of the right to exercise the instruments. The total amount to be expensed is determined by reference to the fair value of equity instruments excluding the
impact of any service and non-market performance vesting conditions (notably remaining an employee of the entity over a specified time period). n) Provisions, contingent assets and contingent liabilities Contingent assets and liabilities are
potential rights and obligations arising from past events for which materialization depends on uncertain future events. Contingent assets are not recognized in the Consolidated Financial Statements, except when the Management of ITAÚ UNIBANCO
HOLDING understands that realization is virtually certain, which generally corresponds to lawsuits with favorable rulings, in final and unappealable judgments, withdrawal from lawsuits as a result of a payment in settlement or as a result of an
agreement to offset against an existing liability. These contingencies are evaluated based on Management’s best estimates, and are classified as: · Probable: in which liabilities are recognized in the consolidated balance sheet under
Provisions; · Possible: which are disclosed in the Consolidated Financial Statements, but no provision is recorded; · Remote: which require neither a provision nor disclosure. The amount of court escrow deposits is adjusted in accordance
with current legislation. o) Capital Common and preferred shares, which are equivalent to common shares but without voting rights are classified in Stockholders’ equity. The additional costs directly attributable to the issue of new shares are
included in Stockholders’ equity as a deduction from the proceeds, net of taxes. F-27 Itaú Unibanco Holding S.A. Pension plans - Defined benefit plans The liability or asset, as the case, is recognized in the Consolidated Balance Sheet
with respect to the defined benefit plan corresponds to the present value of defined benefit obligations at the balance sheet date less the fair value of plan assets. Defined benefit obligations are calculated on a yearly basis by an independent
actuarial advisor based on the projected unit credit method. Pension plans - defined contribution For defined contribution plans, contributions to plans made by ITAÚ UNIBANCO HOLDING, through pension plan funds, are recognized as a liabilities
as a contra entry to expense, when due. If contributions made exceed the liability for a service provided, it will be accounted for as an asset recognized at fair value, and possible remeasurements are recognized in Other Comprehensive Income, in
the period they occur. Other post-employment benefit obligations Likewise the defined benefit pension plans, these obligations are assessed annually by independent and qualified actuaries, and costs expected from these benefits are accumulated
during the employment period and gains and losses arising from adjustments of practices and changes in actuarial assumptions are recognized in Stockholders’ equity, under Other comprehensive income, in the period they occurred. m) Share-based
payment Share-based payments are accounted for in accordance with the amount of equity instruments granted, and they may be shares or stock options according to the plan, based on their fair value at the grant date. This cost is recognized during
the vesting period of the right to exercise the instruments. The total amount to be expensed is determined by reference to the fair value of equity instruments excluding the impact of any service and non-market performance vesting conditions
(notably remaining an employee of the entity over a specified time period). n) Provisions, contingent assets and contingent liabilities Contingent assets and liabilities are potential rights and obligations arising from past events for which
materialization depends on uncertain future events. Contingent assets are not recognized in the Consolidated Financial Statements, except when the Management of ITAÚ UNIBANCO HOLDING understands that realization is virtually certain, which
generally corresponds to lawsuits with favorable rulings, in final and unappealable judgments, withdrawal from lawsuits as a result of a payment in settlement or as a result of an agreement to offset against an existing liability. These
contingencies are evaluated based on Management’s best estimates, and are classified as: · Probable: in which liabilities are recognized in the consolidated balance sheet under Provisions; · Possible: which are disclosed in the
Consolidated Financial Statements, but no provision is recorded; · Remote: which require neither a provision nor disclosure. The amount of court escrow deposits is adjusted in accordance with current legislation. o) Capital Common and preferred
shares, which are equivalent to common shares but without voting rights are classified in Stockholders’ equity. The additional costs directly attributable to the issue of new shares are included in Stockholders’ equity as a deduction
from the proceeds, net of taxes. F-27
Itaú Unibanco Holding S.A. p) Treasury shares Common and preferred
shares repurchased are recorded in Stockholders’ equity under Treasury shares at their average purchase price. Shares that are subsequently sold, such as those sold to grantees under our share-based payment, are recorded as a reduction in
treasury shares, measured at the average price of treasury stock held at such date. The difference between the sale price and the average price of the treasury shares is recorded as a reduction or increase in Additional paid-in capital. The
cancellation of treasury shares is recorded as a reduction in Treasury shares against Appropriated reserves, at the average price of treasury shares at the cancellation date. q) Dividends and interest on capital Minimum dividend amounts established
in the bylaws are recorded as liabilities at the end of each year. Any other amount above the mandatory minimum dividend is accounted for as a liability when approved by Meeting of the Board of Directors. Interest on capital is treated for
accounting purposes as a dividend, and it is presented as a reduction of stockholders' equity in the consolidated financial statements. Dividends have been and continue to be calculated and paid based on the financial statements prepared under
Brazilian accounting standards and regulations for financial institutions and not based on these Consolidated financial statements prepared under IFRS. Dividends and interest on capital are presented in Note 19. r) Earnings per share ITAÚ
UNIBANCO HOLDING grants stock-based compensation whose dilutive effect is reflected in diluted earnings per share, with the application of the “treasury stock method“. Under the treasury stock method, earnings per share are calculated as
if shares under stock-based compensation plans had been issued and as if the assumed proceeds were used to purchase shares of ITAÚ UNIBANCO HOLDING. Earnings per share are presented in Note 25. s) Segment information Segment information is
disclosed consistently with the internal report prepared for the Executive Committee, which makes the operational decisions of ITAÚ UNIBANCO HOLDING. ITAÚ UNIBANCO HOLDING has three reportable segments: (i) Retail Banking (ii) Wholesale
Banking and (iii) Activities with the Market + Corporation. Segment information is presented in Note 30. t) Revenue from contracts with customers Revenue from contracts with customers is recognized when ITAÚ UNIBANCO HOLDING provides or makes
the services to the clients, in an amount that reflects the consideration ITAÚ UNIBANCO HOLDING expects to collect in exchange for those services. A five-step model is applied to account for revenues: i) identification of the contract with a
client; ii) identification of the performance obligations in the contract; iii) determination of the transaction price; iv) allocation of the transaction price to the performance obligations in the contract; and v) recognition of revenue when it
satisfies a performance obligation. F-28 Itaú Unibanco Holding S.A. p) Treasury shares Common and preferred shares repurchased are recorded in Stockholders’ equity under Treasury shares at their average purchase price. Shares that are
subsequently sold, such as those sold to grantees under our share-based payment, are recorded as a reduction in treasury shares, measured at the average price of treasury stock held at such date. The difference between the sale price and the average
price of the treasury shares is recorded as a reduction or increase in Additional paid-in capital. The cancellation of treasury shares is recorded as a reduction in Treasury shares against Appropriated reserves, at the average price of treasury
shares at the cancellation date. q) Dividends and interest on capital Minimum dividend amounts established in the bylaws are recorded as liabilities at the end of each year. Any other amount above the mandatory minimum dividend is accounted for as a
liability when approved by Meeting of the Board of Directors. Interest on capital is treated for accounting purposes as a dividend, and it is presented as a reduction of stockholders' equity in the consolidated financial statements. Dividends have
been and continue to be calculated and paid based on the financial statements prepared under Brazilian accounting standards and regulations for financial institutions and not based on these Consolidated financial statements prepared under IFRS.
Dividends and interest on capital are presented in Note 19. r) Earnings per share ITAÚ UNIBANCO HOLDING grants stock-based compensation whose dilutive effect is reflected in diluted earnings per share, with the application of the
“treasury stock method“. Under the treasury stock method, earnings per share are calculated as if shares under stock-based compensation plans had been issued and as if the assumed proceeds were used to purchase shares of ITAÚ
UNIBANCO HOLDING. Earnings per share are presented in Note 25. s) Segment information Segment information is disclosed consistently with the internal report prepared for the Executive Committee, which makes the operational decisions of ITAÚ
UNIBANCO HOLDING. ITAÚ UNIBANCO HOLDING has three reportable segments: (i) Retail Banking (ii) Wholesale Banking and (iii) Activities with the Market + Corporation. Segment information is presented in Note 30. t) Revenue from contracts with
customers Revenue from contracts with customers is recognized when ITAÚ UNIBANCO HOLDING provides or makes the services to the clients, in an amount that reflects the consideration ITAÚ UNIBANCO HOLDING expects to collect in exchange for
those services. A five-step model is applied to account for revenues: i) identification of the contract with a client; ii) identification of the performance obligations in the contract; iii) determination of the transaction price; iv) allocation of
the transaction price to the performance obligations in the contract; and v) recognition of revenue when it satisfies a performance obligation. F-28
Itaú Unibanco Holding S.A. Note 3 – Business development
Itaú CorpBanca The ITAÚ CORPBANCA is controlled as of April 1st, 2016 by ITAÚ UNIBANCO HOLDING. On the same date, ITAU UNIBANCO HOLDING entered into a shareholders’ agreement with CORP GROUP, which sets forth, among others, the
right of ITAÚ UNIBANCO HOLDING and CORP GROUP to appoint members for the Board of Directors of ITAÚ CORPBANCA in accordance to their interests in capital stock, and this group of shareholders will have the right to appoint the majority of
members of the Board of Directors of ITAÚ CORPBANCA and ITAÚ UNIBANCO HOLDING will be entitled to appoint the majority of members elected by this block. On October 12, 2018, ITAÚ UNIBANCO HOLDING, through its subsidiary ITB Holding
Brasil Participações Ltda., indirectly acquired additional interest of 2.08% (10,651,555,020 shares) in the capital of ITAÚ CORPBANCA, for the amount of R$ 362.9 then holding 38.14%. Acquisition of minority interest in XP
Investimentos S.A. On May 11, 2017, ITAÚ UNIBANCO HOLDING, through its subsidiary ITAÚ UNIBANCO, entered into an agreement for purchase and sale of shares with XP Controle Participações S.A. (XP CONTROLE), G.A. Brasil IV Fundo de
Investimento em Participações, Dyna III Fundo de Investimento em Participações, among other parties (SELLERS), for acquisition of 49.9% of total capital (of which 30.1% of common shares) of XP Investimentos S.A. (XP HOLDING),
through capital contribution in the amount of R$ 600 and acquisition of shares issued by XP HOLDING held by the SELLERS in the amount of R$ 5,700, and such amounts were restated pursuant to contractual provision, totaling R$ 6,650 (FIRST
ACQUISITION). A portion of this amount were withheld as a guarantee for possible future obligations of XP CONTROLE, for a 10-year period, and possible remaining balance will be paid to XP CONTROLE at the end of this term. In addition to the FIRST
ACQUISITION, the agreement sets forth only one additional acquisition in 2022, subject to future BACEN’s approval. Should it be approved, it will enable ITAÚ UNIBANCO to hold up to 62.4% of XP HOLDING’s total capital (equivalent to
40.0% of common shares) based on a multiple of result (19 times) of XP HOLDING, therefore being clear that the control over XP Group will remain unchanged, with XP CONTROLE’s shareholders. ITAÚ UNIBANCO will act as minority partner.
Effective acquisitions and financial settlements occurred on August 31, 2018, after the satisfaction of certain contractual conditions and obtainment of regulatory and government authorizations required. Note 4 - Interbank deposits and securities
purchased under agreements to resell 03/31/2019 12/31/2018 Non- Current Total Current Non-current Total current Securities purchased under agreements to resell 259,535 54 259,589 280,029 103 280,132 (1) Collateral held 56,153 54 56,207 63,392 93
63,485 166,351 - 166,351 170,500 10 170,510 Collateral repledge Assets received as collateral with right to sell or 9,859 - 9,859 28,369 - 28,369 repledge Assets received as collateral without right to sell 156,492 - 156,492 142,131 10 142,141 or
repledge Collateral sold 37,031 - 37,031 46,137 - 46,137 Interbank deposits 25,044 1,277 26,321 25,726 688 26,414 (2) Total 284,579 1,331 285,910 305,755 791 306,546 (1) The amounts of R$ 3,806 (R$ 5,120 at 12/31/2018) are pledged in guarantee of
operations on B3 S.A. - Brasil, Bolsa, Balcão (B3) and Central Bank and the amounts of R$ 203,382 (R$ 216,647 at 12/31/2018) are pledged in guarantee of repurchase agreement transactions. (2) Includes losses in amounts R$ (10) (R$ (10) at
12/31/2018). F-29 Itaú Unibanco Holding S.A. Note 3 – Business development Itaú CorpBanca The ITAÚ CORPBANCA is controlled as of April 1st, 2016 by ITAÚ UNIBANCO HOLDING. On the same date, ITAU UNIBANCO HOLDING entered into
a shareholders’ agreement with CORP GROUP, which sets forth, among others, the right of ITAÚ UNIBANCO HOLDING and CORP GROUP to appoint members for the Board of Directors of ITAÚ CORPBANCA in accordance to their interests in capital
stock, and this group of shareholders will have the right to appoint the majority of members of the Board of Directors of ITAÚ CORPBANCA and ITAÚ UNIBANCO HOLDING will be entitled to appoint the majority of members elected by this block.
On October 12, 2018, ITAÚ UNIBANCO HOLDING, through its subsidiary ITB Holding Brasil Participações Ltda., indirectly acquired additional interest of 2.08% (10,651,555,020 shares) in the capital of ITAÚ CORPBANCA, for the amount
of R$ 362.9 then holding 38.14%. Acquisition of minority interest in XP Investimentos S.A. On May 11, 2017, ITAÚ UNIBANCO HOLDING, through its subsidiary ITAÚ UNIBANCO, entered into an agreement for purchase and sale of shares with XP
Controle Participações S.A. (XP CONTROLE), G.A. Brasil IV Fundo de Investimento em Participações, Dyna III Fundo de Investimento em Participações, among other parties (SELLERS), for acquisition of 49.9% of total capital
(of which 30.1% of common shares) of XP Investimentos S.A. (XP HOLDING), through capital contribution in the amount of R$ 600 and acquisition of shares issued by XP HOLDING held by the SELLERS in the amount of R$ 5,700, and such amounts were
restated pursuant to contractual provision, totaling R$ 6,650 (FIRST ACQUISITION). A portion of this amount were withheld as a guarantee for possible future obligations of XP CONTROLE, for a 10-year period, and possible remaining balance will be
paid to XP CONTROLE at the end of this term. In addition to the FIRST ACQUISITION, the agreement sets forth only one additional acquisition in 2022, subject to future BACEN’s approval. Should it be approved, it will enable ITAÚ UNIBANCO
to hold up to 62.4% of XP HOLDING’s total capital (equivalent to 40.0% of common shares) based on a multiple of result (19 times) of XP HOLDING, therefore being clear that the control over XP Group will remain unchanged, with XP
CONTROLE’s shareholders. ITAÚ UNIBANCO will act as minority partner. Effective acquisitions and financial settlements occurred on August 31, 2018, after the satisfaction of certain contractual conditions and obtainment of regulatory and
government authorizations required. Note 4 - Interbank deposits and securities purchased under agreements to resell 03/31/2019 12/31/2018 Non- Current Total Current Non-current Total current Securities purchased under agreements to resell 259,535 54
259,589 280,029 103 280,132 (1) Collateral held 56,153 54 56,207 63,392 93 63,485 166,351 - 166,351 170,500 10 170,510 Collateral repledge Assets received as collateral with right to sell or 9,859 - 9,859 28,369 - 28,369 repledge Assets received as
collateral without right to sell 156,492 - 156,492 142,131 10 142,141 or repledge Collateral sold 37,031 - 37,031 46,137 - 46,137 Interbank deposits 25,044 1,277 26,321 25,726 688 26,414 (2) Total 284,579 1,331 285,910 305,755 791 306,546 (1) The
amounts of R$ 3,806 (R$ 5,120 at 12/31/2018) are pledged in guarantee of operations on B3 S.A. - Brasil, Bolsa, Balcão (B3) and Central Bank and the amounts of R$ 203,382 (R$ 216,647 at 12/31/2018) are pledged in guarantee of repurchase
agreement transactions. (2) Includes losses in amounts R$ (10) (R$ (10) at 12/31/2018). F-29
Itaú Unibanco Holding S.A. Note 5 – Financial assets at fair
value through profit or loss and designated at fair value through profit or loss - Securities a) Financial assets at fair value through profit or loss - Securities are presented in the following table: 03/31/2019 12/31/2018 Gross Gross Adjustments
to Fair Adjustments to Fair carrying Fair value carrying Fair value Value (in Income) Value (in Income) amount amount Investment funds 4,055 (979) 3,076 5,253 ( 927) 4,326 (1a) Brazilian government securities 214,490 856 215,346 215,956 1,102
217,058 (1b) Government securities – abroad 2,657 28 2,685 2,070 9 2,079 Argentina 1,275 27 1,302 1,121 8 1,129 Chile 594 - 594 301 1 302 Colombia 558 1 559 207 - 207 United States 117 - 117 117 - 117 Mexico 27 - 27 120 - 120 Paraguay 1 - 1 1
- 1 Uruguay 74 - 74 84 - 84 Italy - - - 115 - 115 Other 11 - 11 4 - 4 (1c) Corporate securities 39,073 ( 15) 39,058 38,953 ( 505) 38,448 Negotiable shares 9,857 ( 51) 9,806 9,778 (332) 9,446 Bank deposit certificates 784 - 784 969 - 969 Securitized
real estate loans 1,314 31 1,345 1,391 20 1,411 Debentures 4,876 5 4,881 5,147 ( 187) 4,960 Eurobonds and other 1,359 ( 1) 1,358 1,403 ( 7) 1,396 Financial credit bills 20,468 - 20,468 19,724 - 19,724 Promissory notes 370 - 370 435 - 435 Other 45 1
46 106 1 107 Total 260,275 (110) 260,165 262,232 ( 321) 261,911 1) Financial assets at fair value through profit or loss – Securities pledged as Guarantee of Funding of Financial Institutions and Clients were: a) R$ 40,218 (R$ 30,114 at
12/31/2018), b) R$ 577 (R$ 131 at 12/31/2018) and c) R$ 20, totaling R$ 40,815 (R$ 30,245 at 12/31/2018). F-30 Itaú Unibanco Holding S.A. Note 5 – Financial assets at fair value through profit or loss and designated at fair value through
profit or loss - Securities a) Financial assets at fair value through profit or loss - Securities are presented in the following table: 03/31/2019 12/31/2018 Gross Gross Adjustments to Fair Adjustments to Fair carrying Fair value carrying Fair value
Value (in Income) Value (in Income) amount amount Investment funds 4,055 (979) 3,076 5,253 ( 927) 4,326 (1a) Brazilian government securities 214,490 856 215,346 215,956 1,102 217,058 (1b) Government securities – abroad 2,657 28 2,685 2,070 9
2,079 Argentina 1,275 27 1,302 1,121 8 1,129 Chile 594 - 594 301 1 302 Colombia 558 1 559 207 - 207 United States 117 - 117 117 - 117 Mexico 27 - 27 120 - 120 Paraguay 1 - 1 1 - 1 Uruguay 74 - 74 84 - 84 Italy - - - 115 - 115 Other 11 - 11 4 - 4
(1c) Corporate securities 39,073 ( 15) 39,058 38,953 ( 505) 38,448 Negotiable shares 9,857 ( 51) 9,806 9,778 (332) 9,446 Bank deposit certificates 784 - 784 969 - 969 Securitized real estate loans 1,314 31 1,345 1,391 20 1,411 Debentures 4,876 5
4,881 5,147 ( 187) 4,960 Eurobonds and other 1,359 ( 1) 1,358 1,403 ( 7) 1,396 Financial credit bills 20,468 - 20,468 19,724 - 19,724 Promissory notes 370 - 370 435 - 435 Other 45 1 46 106 1 107 Total 260,275 (110) 260,165 262,232 ( 321) 261,911 1)
Financial assets at fair value through profit or loss – Securities pledged as Guarantee of Funding of Financial Institutions and Clients were: a) R$ 40,218 (R$ 30,114 at 12/31/2018), b) R$ 577 (R$ 131 at 12/31/2018) and c) R$ 20, totaling R$
40,815 (R$ 30,245 at 12/31/2018). F-30
Itaú Unibanco Holding S.A. The cost and fair value of Financial
Assets at Fair Value Through Profit or Loss - Securities are as follows: 03/31/2019 12/31/2018 Gross Gross carrying Fair value carrying Fair value amount amount Current 58,266 57,289 53,382 52,096 Non-stated maturity 14,156 13,124 15,031 13,772 Up
to one year 44,110 44,165 38,351 38,324 Non-current 202,009 202,876 208,850 209,815 From one to five years 147,358 147,714 153,256 153,701 From five to ten years 42,482 42,865 44,258 44,620 After ten years 12,169 12,297 11,336 11,494 Total 260,275
260,165 262,232 261,911 Financial Assets at Fair Value Through Profit or Loss - Securities include assets with a fair value of R$ 191,664 (R$ 188,069 at 12/31/2018) that belong to investment funds wholly owned by Itaú Vida e Previdência
S.A. The return of those assets (positive or negative) is fully transferred to customers of our PGBL and VGBL private pension plans whose premiums (less fees charged by us) are used by our subsidiary to purchase quotas of those investment funds. b)
Financial assets designated at fair value through profit or loss - Securities are presented in the following table: 03/31/2019 Gross Adjustments to carrying Fair value Fair Value (in Income) amount Brazilian external debt bonds 1,871 61 1,932 Total
1,871 61 1,932 12/31/2018 Gross Adjustments to carrying Fair value Fair Value (in Income) amount Brazilian external debt bonds 1,232 37 1,269 Total 1,232 37 1,269 The cost and fair value by maturity of financial assets designated as fair value
through profit or loss - Securities were as follows: 03/31/2019 12/31/2018 Gross Gross carrying Fair value carrying Fair value amount amount Current 1,871 1,932 765 799 Up to one year 1,871 1,932 765 799 Non-current - - 467 470 From one to five
years - - 467 470 F-31 Itaú Unibanco Holding S.A. The cost and fair value of Financial Assets at Fair Value Through Profit or Loss - Securities are as follows: 03/31/2019 12/31/2018 Gross Gross carrying Fair value carrying Fair value amount
amount Current 58,266 57,289 53,382 52,096 Non-stated maturity 14,156 13,124 15,031 13,772 Up to one year 44,110 44,165 38,351 38,324 Non-current 202,009 202,876 208,850 209,815 From one to five years 147,358 147,714 153,256 153,701 From five to ten
years 42,482 42,865 44,258 44,620 After ten years 12,169 12,297 11,336 11,494 Total 260,275 260,165 262,232 261,911 Financial Assets at Fair Value Through Profit or Loss - Securities include assets with a fair value of R$ 191,664 (R$ 188,069 at
12/31/2018) that belong to investment funds wholly owned by Itaú Vida e Previdência S.A. The return of those assets (positive or negative) is fully transferred to customers of our PGBL and VGBL private pension plans whose premiums (less
fees charged by us) are used by our subsidiary to purchase quotas of those investment funds. b) Financial assets designated at fair value through profit or loss - Securities are presented in the following table: 03/31/2019 Gross Adjustments to
carrying Fair value Fair Value (in Income) amount Brazilian external debt bonds 1,871 61 1,932 Total 1,871 61 1,932 12/31/2018 Gross Adjustments to carrying Fair value Fair Value (in Income) amount Brazilian external debt bonds 1,232 37 1,269 Total
1,232 37 1,269 The cost and fair value by maturity of financial assets designated as fair value through profit or loss - Securities were as follows: 03/31/2019 12/31/2018 Gross Gross carrying Fair value carrying Fair value amount amount Current
1,871 1,932 765 799 Up to one year 1,871 1,932 765 799 Non-current - - 467 470 From one to five years - - 467 470 F-31
Itaú Unibanco Holding S.A. Note 6 – Derivatives ITAÚ
UNIBANCO HOLDING enters into derivative financial instruments with various counterparties to manage its overall exposures and to assist its customers in managing their own exposures. Futures – Interest rate and foreign currency futures
contracts are commitments to buy or sell a financial instrument at a future date, at a contracted price or yield and may be settled in cash or through delivery. The notional amount represents the face value of the underlying instrument. Commodity
futures contracts or financial instruments are commitments to buy or sell commodities (mainly gold, coffee and orange juice), at a future date, at a contracted price, which are settled in cash. The notional amount represents the quantity of such
commodities multiplied by the future price at the contract date. Daily cash settlements of price movements are made for all instruments. Forwards – Interest forward contracts are agreements to exchange payments on a specified future date,
based on a market change in interest rates from trade date to contract settlement date. Foreign exchange forward contracts represent agreements to exchange the currency of one country for the currency of another country at an agreed price, at an
agreed settlement date. Financial instrument forward contracts are commitments to buy or sell a financial instrument on a future date at a contracted price and are settled in cash. Swaps – Interest rate and foreign exchange swap contracts are
commitments to settle in cash at a future date or dates, based on differentials between specified financial indices (either two different interest rates in a single currency or two different rates each in a different currency), as applied to a
notional principal amount. Swap contracts presented in Other in the table below correspond substantially to inflation rate swap contracts. Options – Option contracts give the purchaser, for a fee, the right, but not the obligation, to buy or
sell within a limited time a financial instrument including a flow of interest, foreign currencies, commodities, or financial instruments at a contracted price that may also be settled in cash, based on differentials between specific indices. Credit
Derivatives – Credit derivatives are financial instruments with value relating to the credit risk associated to the debt issued by a third party (the reference entity), which permits that one party (the purchaser of the hedge) transfers the
risk to the counterparty (the seller of the hedge). The seller of the hedge should make payments as set forth in the contract when the reference entity undergoes a credit event, such as bankruptcy, default or debt restructuring. The seller of the
hedge receives a premium for the hedge, but, on the other hand, assumes the risk that the underlying asset referenced in the contract undergoes a credit event, and the seller would have to make the payment to the purchaser of the hedge, which could
be the notional amount of the credit derivative. The total value of margins pledged in guarantee by ITAÚ UNIBANCO HOLDING was R$ 12,867 (R$ 12,855 at 12/31/2018) and was basically comprised of government securities. F-32 Itaú Unibanco
Holding S.A. Note 6 – Derivatives ITAÚ UNIBANCO HOLDING enters into derivative financial instruments with various counterparties to manage its overall exposures and to assist its customers in managing their own exposures. Futures –
Interest rate and foreign currency futures contracts are commitments to buy or sell a financial instrument at a future date, at a contracted price or yield and may be settled in cash or through delivery. The notional amount represents the face value
of the underlying instrument. Commodity futures contracts or financial instruments are commitments to buy or sell commodities (mainly gold, coffee and orange juice), at a future date, at a contracted price, which are settled in cash. The notional
amount represents the quantity of such commodities multiplied by the future price at the contract date. Daily cash settlements of price movements are made for all instruments. Forwards – Interest forward contracts are agreements to exchange
payments on a specified future date, based on a market change in interest rates from trade date to contract settlement date. Foreign exchange forward contracts represent agreements to exchange the currency of one country for the currency of another
country at an agreed price, at an agreed settlement date. Financial instrument forward contracts are commitments to buy or sell a financial instrument on a future date at a contracted price and are settled in cash. Swaps – Interest rate and
foreign exchange swap contracts are commitments to settle in cash at a future date or dates, based on differentials between specified financial indices (either two different interest rates in a single currency or two different rates each in a
different currency), as applied to a notional principal amount. Swap contracts presented in Other in the table below correspond substantially to inflation rate swap contracts. Options – Option contracts give the purchaser, for a fee, the
right, but not the obligation, to buy or sell within a limited time a financial instrument including a flow of interest, foreign currencies, commodities, or financial instruments at a contracted price that may also be settled in cash, based on
differentials between specific indices. Credit Derivatives – Credit derivatives are financial instruments with value relating to the credit risk associated to the debt issued by a third party (the reference entity), which permits that one
party (the purchaser of the hedge) transfers the risk to the counterparty (the seller of the hedge). The seller of the hedge should make payments as set forth in the contract when the reference entity undergoes a credit event, such as bankruptcy,
default or debt restructuring. The seller of the hedge receives a premium for the hedge, but, on the other hand, assumes the risk that the underlying asset referenced in the contract undergoes a credit event, and the seller would have to make the
payment to the purchaser of the hedge, which could be the notional amount of the credit derivative. The total value of margins pledged in guarantee by ITAÚ UNIBANCO HOLDING was R$ 12,867 (R$ 12,855 at 12/31/2018) and was basically comprised of
government securities. F-32
Itaú Unibanco Holding S.A. I - Derivatives Summary See below the
composition of the Derivative financial instruments portfolio (assets and liabilities) by type of instrument, stated fair value, and by maturity. 03/31/2019 0-30 31-90 91-180 181-365 366-720 Over 720 Fair value % days days days days days days Assets
Swaps – difference receivable 13,724 57.0 176 164 372 1,698 2,920 8,394 Option premiums 3,370 14.0 457 558 634 1,024 521 176 Forwards (onshore) 3,262 13.4 2,337 673 196 56 - - Credit derivatives - financial Institutions 158 0.7 - 2 - 4 7 145
NDF - Non Deliverable Forward 2,906 12.1 995 694 383 565 161 108 Check of swap - Companies 23 0.1 7 - - - 13 3 Other 641 2.7 423 4 1 6 4 203 Total 24,084 100.0 4,395 2,095 1,586 3,353 3,626 9,029 % per maturity term 18.2 8.7 6.6 13.9 15.1 37.5
03/31/2019 0-30 31-90 91-180 181-365 366-720 Over 720 Fair value % days days days days days days Liabilities Swaps – difference payable (19,412) 69.8 (184) (570) ( 521) (3,379) ( 6,291) (8,467) Option premiums (3,129) 11.3 (396) (430) (542)
(1,071) ( 421) (269) Forwards (onshore) (1,975) 7.1 (1,975) - - - - - Credit derivatives - financial Institutions (70) 0.3 - - - (1) (1) (68) NDF - Non Deliverable Forward (2,976) 10.7 (804) (568) (579) (477) ( 424) (124) Check of swap - Companies
(174) 0.6 (17) - - - - (157) Other (60) 0.2 - (3) (3) (3) ( 7) (44) Total (27,796) 100.0 (3,376) (1,571) (1,645) (4,931) (7,144) (9,129) % per maturity term 12.1 5.7 6.0 17.7 25.7 32.8 F-33 Itaú Unibanco Holding S.A. I - Derivatives Summary See
below the composition of the Derivative financial instruments portfolio (assets and liabilities) by type of instrument, stated fair value, and by maturity. 03/31/2019 0-30 31-90 91-180 181-365 366-720 Over 720 Fair value % days days days days days
days Assets Swaps – difference receivable 13,724 57.0 176 164 372 1,698 2,920 8,394 Option premiums 3,370 14.0 457 558 634 1,024 521 176 Forwards (onshore) 3,262 13.4 2,337 673 196 56 - - Credit derivatives - financial Institutions 158 0.7 - 2
- 4 7 145 NDF - Non Deliverable Forward 2,906 12.1 995 694 383 565 161 108 Check of swap - Companies 23 0.1 7 - - - 13 3 Other 641 2.7 423 4 1 6 4 203 Total 24,084 100.0 4,395 2,095 1,586 3,353 3,626 9,029 % per maturity term 18.2 8.7 6.6 13.9 15.1
37.5 03/31/2019 0-30 31-90 91-180 181-365 366-720 Over 720 Fair value % days days days days days days Liabilities Swaps – difference payable (19,412) 69.8 (184) (570) ( 521) (3,379) ( 6,291) (8,467) Option premiums (3,129) 11.3 (396) (430)
(542) (1,071) ( 421) (269) Forwards (onshore) (1,975) 7.1 (1,975) - - - - - Credit derivatives - financial Institutions (70) 0.3 - - - (1) (1) (68) NDF - Non Deliverable Forward (2,976) 10.7 (804) (568) (579) (477) ( 424) (124) Check of swap -
Companies (174) 0.6 (17) - - - - (157) Other (60) 0.2 - (3) (3) (3) ( 7) (44) Total (27,796) 100.0 (3,376) (1,571) (1,645) (4,931) (7,144) (9,129) % per maturity term 12.1 5.7 6.0 17.7 25.7 32.8 F-33
Itaú Unibanco Holding S.A. See below the composition of the
Derivative financial instruments portfolio (assets and liabilities) by type of instrument, stated fair value, and by maturity. 12/31/2018 0-30 31-90 91-180 181-365 366-720 Over 720 Fair value % days days days days days days Assets Swaps –
difference receivable 13,049 55.6 705 187 245 700 2,881 8,331 Option premiums 4,215 18.0 1,167 408 610 872 975 183 Forwards (onshore) 1,835 7.8 893 716 145 81 - - Credit derivatives - financial Institutions 120 0.5 - - 1 5 9 105 NDF - Non
Deliverable Forward 3,711 15.8 1,013 968 772 653 178 127 Check of swap - Companies 44 0.2 - - 7 - 13 24 Other 492 2.1 209 10 2 2 13 256 23,466 100.0 3,987 2,289 1,782 2,313 4,069 9,026 Total % per maturity term 17.0 9.8 7.6 9.9 17.3 38.4 12/31/2018
0-30 31-90 91-180 181-365 366-720 Over 720 Fair value % days days days days days days Liabilities Swaps – difference payable (19,354) 70.3 (923) (979) (606) (1,417) (4,687) (10,742) Option premiums (3,929) 14.3 (883) (500) (604) (831) (823)
(288) Forwards (onshore) (470) 1.7 (470) - - - - - Credit derivatives - financial Institutions (140) 0.5 - - - (2) (4) (134) NDF - Non Deliverable Forward (3,384) 12.3 (890) (772) (583) (552) (150) (437) Check of swap - Companies (162) 0.6 - - (16)
- - (146) Other (80) 0.3 (2) (2) (8) (13) (8) (47) Total (27,519) 100.0 (3,168) (2,253) (1,817) (2,815) (5,672) (11,794) % per maturity term 11.5 8.2 6.6 10.2 20.6 42.9 F-34 Itaú Unibanco Holding S.A. See below the composition of the Derivative
financial instruments portfolio (assets and liabilities) by type of instrument, stated fair value, and by maturity. 12/31/2018 0-30 31-90 91-180 181-365 366-720 Over 720 Fair value % days days days days days days Assets Swaps – difference
receivable 13,049 55.6 705 187 245 700 2,881 8,331 Option premiums 4,215 18.0 1,167 408 610 872 975 183 Forwards (onshore) 1,835 7.8 893 716 145 81 - - Credit derivatives - financial Institutions 120 0.5 - - 1 5 9 105 NDF - Non Deliverable Forward
3,711 15.8 1,013 968 772 653 178 127 Check of swap - Companies 44 0.2 - - 7 - 13 24 Other 492 2.1 209 10 2 2 13 256 23,466 100.0 3,987 2,289 1,782 2,313 4,069 9,026 Total % per maturity term 17.0 9.8 7.6 9.9 17.3 38.4 12/31/2018 0-30 31-90 91-180
181-365 366-720 Over 720 Fair value % days days days days days days Liabilities Swaps – difference payable (19,354) 70.3 (923) (979) (606) (1,417) (4,687) (10,742) Option premiums (3,929) 14.3 (883) (500) (604) (831) (823) (288) Forwards
(onshore) (470) 1.7 (470) - - - - - Credit derivatives - financial Institutions (140) 0.5 - - - (2) (4) (134) NDF - Non Deliverable Forward (3,384) 12.3 (890) (772) (583) (552) (150) (437) Check of swap - Companies (162) 0.6 - - (16) - - (146) Other
(80) 0.3 (2) (2) (8) (13) (8) (47) Total (27,519) 100.0 (3,168) (2,253) (1,817) (2,815) (5,672) (11,794) % per maturity term 11.5 8.2 6.6 10.2 20.6 42.9 F-34
Itaú Unibanco Holding S.A. II - Derivatives by index and Risk Fator
The following table shows the composition of derivatives by index: Balance sheet account Adjustment to market Off-balance sheet receivable / (received) value (in results / Fair value notional amount (payable) / paid stockholders' equity) 03/31/2019
03/31/2019 03/31/2019 03/31/2019 Futures contracts 459,021 - - - Purchase commitments 217,146 - - - Shares 1,268 - - - Commodities 231 - - - Interest 195,930 - - - Foreign currency 19,717 - - - Commitments to sell 241,875 - - - Shares 1,007 - - -
Commodities 325 - - - Interest 221,360 - - - Foreign currency 19,183 - - - Swap contracts - (4,807) ( 881) (5,688) Asset position 917,347 6,289 7,435 13,724 Commodities 8 - - - Interest 904,718 5,191 6,848 12,039 Foreign currency 12,621 1,098 587
1,685 Liability position 917,347 (11,096) (8,316) (19,412) Shares 75 (8) 1 (7) Interest 890,577 (9,279) ( 8,275) (17,554) Foreign currency 26,695 (1,809) (42) (1,851) Option contracts 958,530 284 ( 43) 241 Purchase commitments – long position
96,996 1,727 153 1,880 Shares 8,152 288 229 517 Commodities 520 12 ( 2) 10 Interest 39,762 75 39 114 Foreign currency 48,562 1,352 (113) 1,239 Commitments to sell – long position 397,597 1,746 (256) 1,490 Shares 11,583 384 173 557 Commodities
199 7 ( 3) 4 Interest 337,130 351 108 459 Foreign currency 48,685 1,004 (534) 470 Purchase commitments – short position 83,300 (1,473) (123) (1,596) Shares 9,961 (191) (300) (491) Commodities 321 (6) 1 (5) Interest 26,062 (49) 25 (24) Foreign
currency 46,956 (1,227) 151 (1,076) Commitments to sell – short position 380,637 (1,716) 183 (1,533) Shares 8,801 (231) ( 215) (446) Commodities 160 (4) 1 (3) Interest 321,448 (364) ( 153) (517) Foreign currency 50,228 (1,117) 550 (567)
Forward operations (onshore) 3,082 1,290 ( 3) 1,287 Purchases receivable 1,347 1,547 ( 5) 1,542 Shares 316 316 ( 5) 311 Interest 1,031 1,231 - 1,231 Purchases payable - (1,031) 1 (1,030) Shares - (1) - (1) Interest - (1,030) 1 (1,029) Sales
receivable 994 1,720 - 1,720 Shares 994 980 - 980 Interest - 740 - 740 Sales deliverable 741 (946) 1 (945) Interest 741 (946) 1 (945) Credit derivatives 9,159 (247) 335 88 Asset position 4,960 (109) 267 158 Shares 1,698 (45) 156 111 Commodities 40 -
3 3 Interest 3,222 (64) 108 44 Liability position 4,199 (138) 68 (70) Shares 1,416 (56) 17 (39) Interest 2,783 (82) 51 (31) NDF - Non Deliverable Forward 231,741 (202) 132 (70) Asset position 120,368 2,706 200 2,906 Commodities 134 29 (21) 8 Foreign
currency 120,234 2,677 221 2,898 Liability position 111,373 (2,908) (68) (2,976) Commodities 73 (8) ( 1) (9) Foreign currency 111,300 (2,900) ( 67) (2,967) Check of swap 1,333 (80) ( 71) (151) Asset position 115 10 13 23 Interest 115 4 - 4 Foreign
currency - 6 13 19 Liability position 1,218 (90) (84) (174) Interest 1,218 (22) ( 6) (28) Foreign currency - (68) ( 78) (146) Other derivative financial instruments 5,703 208 373 581 Asset position 4,673 215 426 641 Shares 169 (7) 6 (1) Interest
4,491 223 ( 6) 217 Foreign currency 13 (1) 426 425 Liability position 1,030 (7) (53) (60) Shares 867 (4) ( 44) (48) Commodities 14 - - - Interest 149 (3) ( 8) (11) Foreign currency - - ( 1) (1) Asset 15,851 8,233 24,084 Liability (19,405) ( 8,391)
(27,796) Total (3,554) ( 158) (3,712) Derivative contracts mature as follows (in days): Off-balance sheet – notional amount 0 - 30 31 - 180 181 - 365 Over 365 03/31/2019 Futures contracts 163,358 127,398 77,245 91,020 459,021 Swaps contracts
20,178 93,426 188,530 615,213 917,347 Options 103,564 360,477 457,332 37,157 958,530 Forwards (onshore) 2,181 842 59 - 3,082 Credit derivatives - 715 593 7,851 9,159 NDF - Non Deliverable Forward 89,839 87,158 39,397 15,347 231,741 Check of swap 115
- - 1,218 1,333 Other derivative financial instruments - 483 855 4,365 5,703 F-35 Itaú Unibanco Holding S.A. II - Derivatives by index and Risk Fator The following table shows the composition of derivatives by index: Balance sheet account
Adjustment to market Off-balance sheet receivable / (received) value (in results / Fair value notional amount (payable) / paid stockholders' equity) 03/31/2019 03/31/2019 03/31/2019 03/31/2019 Futures contracts 459,021 - - - Purchase commitments
217,146 - - - Shares 1,268 - - - Commodities 231 - - - Interest 195,930 - - - Foreign currency 19,717 - - - Commitments to sell 241,875 - - - Shares 1,007 - - - Commodities 325 - - - Interest 221,360 - - - Foreign currency 19,183 - - - Swap
contracts - (4,807) ( 881) (5,688) Asset position 917,347 6,289 7,435 13,724 Commodities 8 - - - Interest 904,718 5,191 6,848 12,039 Foreign currency 12,621 1,098 587 1,685 Liability position 917,347 (11,096) (8,316) (19,412) Shares 75 (8) 1 (7)
Interest 890,577 (9,279) ( 8,275) (17,554) Foreign currency 26,695 (1,809) (42) (1,851) Option contracts 958,530 284 ( 43) 241 Purchase commitments – long position 96,996 1,727 153 1,880 Shares 8,152 288 229 517 Commodities 520 12 ( 2) 10
Interest 39,762 75 39 114 Foreign currency 48,562 1,352 (113) 1,239 Commitments to sell – long position 397,597 1,746 (256) 1,490 Shares 11,583 384 173 557 Commodities 199 7 ( 3) 4 Interest 337,130 351 108 459 Foreign currency 48,685 1,004
(534) 470 Purchase commitments – short position 83,300 (1,473) (123) (1,596) Shares 9,961 (191) (300) (491) Commodities 321 (6) 1 (5) Interest 26,062 (49) 25 (24) Foreign currency 46,956 (1,227) 151 (1,076) Commitments to sell – short
position 380,637 (1,716) 183 (1,533) Shares 8,801 (231) ( 215) (446) Commodities 160 (4) 1 (3) Interest 321,448 (364) ( 153) (517) Foreign currency 50,228 (1,117) 550 (567) Forward operations (onshore) 3,082 1,290 ( 3) 1,287 Purchases receivable
1,347 1,547 ( 5) 1,542 Shares 316 316 ( 5) 311 Interest 1,031 1,231 - 1,231 Purchases payable - (1,031) 1 (1,030) Shares - (1) - (1) Interest - (1,030) 1 (1,029) Sales receivable 994 1,720 - 1,720 Shares 994 980 - 980 Interest - 740 - 740 Sales
deliverable 741 (946) 1 (945) Interest 741 (946) 1 (945) Credit derivatives 9,159 (247) 335 88 Asset position 4,960 (109) 267 158 Shares 1,698 (45) 156 111 Commodities 40 - 3 3 Interest 3,222 (64) 108 44 Liability position 4,199 (138) 68 (70) Shares
1,416 (56) 17 (39) Interest 2,783 (82) 51 (31) NDF - Non Deliverable Forward 231,741 (202) 132 (70) Asset position 120,368 2,706 200 2,906 Commodities 134 29 (21) 8 Foreign currency 120,234 2,677 221 2,898 Liability position 111,373 (2,908) (68)
(2,976) Commodities 73 (8) ( 1) (9) Foreign currency 111,300 (2,900) ( 67) (2,967) Check of swap 1,333 (80) ( 71) (151) Asset position 115 10 13 23 Interest 115 4 - 4 Foreign currency - 6 13 19 Liability position 1,218 (90) (84) (174) Interest 1,218
(22) ( 6) (28) Foreign currency - (68) ( 78) (146) Other derivative financial instruments 5,703 208 373 581 Asset position 4,673 215 426 641 Shares 169 (7) 6 (1) Interest 4,491 223 ( 6) 217 Foreign currency 13 (1) 426 425 Liability position 1,030
(7) (53) (60) Shares 867 (4) ( 44) (48) Commodities 14 - - - Interest 149 (3) ( 8) (11) Foreign currency - - ( 1) (1) Asset 15,851 8,233 24,084 Liability (19,405) ( 8,391) (27,796) Total (3,554) ( 158) (3,712) Derivative contracts mature as follows
(in days): Off-balance sheet – notional amount 0 - 30 31 - 180 181 - 365 Over 365 03/31/2019 Futures contracts 163,358 127,398 77,245 91,020 459,021 Swaps contracts 20,178 93,426 188,530 615,213 917,347 Options 103,564 360,477 457,332 37,157
958,530 Forwards (onshore) 2,181 842 59 - 3,082 Credit derivatives - 715 593 7,851 9,159 NDF - Non Deliverable Forward 89,839 87,158 39,397 15,347 231,741 Check of swap 115 - - 1,218 1,333 Other derivative financial instruments - 483 855 4,365 5,703
F-35
Itaú Unibanco Holding S.A. The following table shows the composition
of derivatives by index: Balance sheet account Adjustment to market Off-balance sheet receivable / (received) value (in results / Fair value notional amount (payable) / paid stockholders' equity) 12/31/2018 12/31/2018 12/31/2018 12/31/2018 Futures
contracts 586,033 - - - Purchase commitments 268,228 - - - Shares 13,675 - - - Commodities 194 - - - Interest 243,369 - - - Foreign currency 10,990 - - - Commitments to sell 317,805 - - - Shares 13,965 - - - Commodities 155 - - - Interest 265,218 -
- - Foreign currency 38,467 - - - Swap contracts - (5,188) (1,117) (6,305) Asset position 939,510 6,263 6,786 13,049 Commodities 6 - - - Interest 925,381 5,124 6,380 11,504 Foreign currency 14,123 1,139 406 1,545 Liability position 939,510 ( 11,451)
(7,903) (19,354) Shares 76 ( 5) 2 (3) Commodities 620 - (1) (1) Interest 913,745 (9,410) (7,973) (17,383) Foreign currency 25,069 ( 2,036) 69 (1,967) Option contracts 1,262,568 324 (38) 286 Purchase commitments – long position 151,179 1,935
(108) 1,827 Shares 8,211 289 100 389 Commodities 321 10 (3) 7 Interest 100,338 183 (98) 85 Foreign currency 42,309 1,453 (107) 1,346 Commitments to sell – long position 495,464 1,808 580 2,388 Shares 10,802 394 500 894 Commodities 278 11 1 12
Interest 441,673 427 460 887 Foreign currency 42,711 976 (381) 595 Purchase commitments – short position 116,005 (1,564) 153 (1,411) Shares 9,716 ( 184) (98) (282) Commodities 317 (9) 6 (3) Interest 69,934 ( 147) 95 (52) Foreign currency
36,038 (1,224) 150 (1,074) Commitments to sell – short position 499,920 ( 1,855) (663) (2,518) Shares 8,898 ( 246) (503) (749) Commodities 192 (6) (2) (8) Interest 448,029 (528) (497) (1,025) Foreign currency 42,801 ( 1,075) 339 (736) Forward
operations (onshore) 2,341 1,363 2 1,365 Purchases receivable 415 496 - 496 Shares 36 36 - 36 Interest 379 460 - 460 Purchases payable - (381) - (381) Shares - ( 2) - (2) Interest - ( 379) - (379) Sales receivable 1,307 1,337 2 1,339 Shares 1,307
1,292 2 1,294 Interest - 45 - 45 Sales deliverable 619 ( 89) - (89) Shares 2 (2) - (2) Interest 45 ( 87) - (87) Foreign currency 572 - - - Credit derivatives 8,324 (243) 223 (20) Asset position 3,825 (87) 207 120 Shares 1,576 (44) 136 92 Interest
2,249 ( 43) 71 28 Liability position 4,499 ( 156) 16 (140) Shares 1,316 ( 55) (14) (69) Interest 3,183 (101) 30 (71) NDF - Non Deliverable Forward 225,355 99 228 327 Asset position 122,495 3,378 333 3,711 Commodities 167 16 1 17 Foreign currency
122,328 3,362 332 3,694 Liability position 102,860 (3,279) (105) (3,384) Commodities 96 ( 6) 1 (5) Foreign currency 102,764 ( 3,273) (106) (3,379) Check of swap 1,334 (71) (47) (118) Asset position 115 7 37 44 Interest 115 2 21 23 Foreign currency -
5 16 21 Liability position 1,219 (78) (84) (162) Interest 1,219 (17) (6) (23) Foreign currency - ( 61) (78) (139) Other derivative financial instruments 5,304 198 214 412 Asset position 4,296 205 287 492 Shares 217 ( 8) 10 2 Interest 4,074 213 65
278 Foreign currency 5 - 212 212 Liability position 1,008 ( 7) (73) (80) Shares 842 ( 4) (42) (46) Interest 158 ( 2) (21) (23) Foreign currency 8 ( 1) (10) (11) Asset 15,342 8,124 23,466 Liability (18,860) (8,659) (27,519) Total ( 3,518) (535)
(4,053) Derivative contracts mature as follows (in days): Off-balance sheet – notional amount 0 - 30 31 - 180 181 - 365 Over 365 12/31/2018 Futures contracts 217,836 193,637 33,969 140,591 586,033 Swaps contracts 70,403 96,913 96,090 676,104
939,510 Options 595,515 131,147 329,834 206,072 1,262,568 Forwards (onshore) 1,412 844 85 - 2,341 Credit derivatives - 1,188 680 6,456 8,324 NDF - Non Deliverable Forward 76,032 102,024 30,212 17,087 225,355 Check of swap - 115 - 1,219 1,334 Other
derivative financial instruments 8 405 357 4,534 5,304 F-36 Itaú Unibanco Holding S.A. The following table shows the composition of derivatives by index: Balance sheet account Adjustment to market Off-balance sheet receivable / (received) value
(in results / Fair value notional amount (payable) / paid stockholders' equity) 12/31/2018 12/31/2018 12/31/2018 12/31/2018 Futures contracts 586,033 - - - Purchase commitments 268,228 - - - Shares 13,675 - - - Commodities 194 - - - Interest 243,369
- - - Foreign currency 10,990 - - - Commitments to sell 317,805 - - - Shares 13,965 - - - Commodities 155 - - - Interest 265,218 - - - Foreign currency 38,467 - - - Swap contracts - (5,188) (1,117) (6,305) Asset position 939,510 6,263 6,786 13,049
Commodities 6 - - - Interest 925,381 5,124 6,380 11,504 Foreign currency 14,123 1,139 406 1,545 Liability position 939,510 ( 11,451) (7,903) (19,354) Shares 76 ( 5) 2 (3) Commodities 620 - (1) (1) Interest 913,745 (9,410) (7,973) (17,383) Foreign
currency 25,069 ( 2,036) 69 (1,967) Option contracts 1,262,568 324 (38) 286 Purchase commitments – long position 151,179 1,935 (108) 1,827 Shares 8,211 289 100 389 Commodities 321 10 (3) 7 Interest 100,338 183 (98) 85 Foreign currency 42,309
1,453 (107) 1,346 Commitments to sell – long position 495,464 1,808 580 2,388 Shares 10,802 394 500 894 Commodities 278 11 1 12 Interest 441,673 427 460 887 Foreign currency 42,711 976 (381) 595 Purchase commitments – short position
116,005 (1,564) 153 (1,411) Shares 9,716 ( 184) (98) (282) Commodities 317 (9) 6 (3) Interest 69,934 ( 147) 95 (52) Foreign currency 36,038 (1,224) 150 (1,074) Commitments to sell – short position 499,920 ( 1,855) (663) (2,518) Shares 8,898 (
246) (503) (749) Commodities 192 (6) (2) (8) Interest 448,029 (528) (497) (1,025) Foreign currency 42,801 ( 1,075) 339 (736) Forward operations (onshore) 2,341 1,363 2 1,365 Purchases receivable 415 496 - 496 Shares 36 36 - 36 Interest 379 460 - 460
Purchases payable - (381) - (381) Shares - ( 2) - (2) Interest - ( 379) - (379) Sales receivable 1,307 1,337 2 1,339 Shares 1,307 1,292 2 1,294 Interest - 45 - 45 Sales deliverable 619 ( 89) - (89) Shares 2 (2) - (2) Interest 45 ( 87) - (87) Foreign
currency 572 - - - Credit derivatives 8,324 (243) 223 (20) Asset position 3,825 (87) 207 120 Shares 1,576 (44) 136 92 Interest 2,249 ( 43) 71 28 Liability position 4,499 ( 156) 16 (140) Shares 1,316 ( 55) (14) (69) Interest 3,183 (101) 30 (71) NDF -
Non Deliverable Forward 225,355 99 228 327 Asset position 122,495 3,378 333 3,711 Commodities 167 16 1 17 Foreign currency 122,328 3,362 332 3,694 Liability position 102,860 (3,279) (105) (3,384) Commodities 96 ( 6) 1 (5) Foreign currency 102,764 (
3,273) (106) (3,379) Check of swap 1,334 (71) (47) (118) Asset position 115 7 37 44 Interest 115 2 21 23 Foreign currency - 5 16 21 Liability position 1,219 (78) (84) (162) Interest 1,219 (17) (6) (23) Foreign currency - ( 61) (78) (139) Other
derivative financial instruments 5,304 198 214 412 Asset position 4,296 205 287 492 Shares 217 ( 8) 10 2 Interest 4,074 213 65 278 Foreign currency 5 - 212 212 Liability position 1,008 ( 7) (73) (80) Shares 842 ( 4) (42) (46) Interest 158 ( 2) (21)
(23) Foreign currency 8 ( 1) (10) (11) Asset 15,342 8,124 23,466 Liability (18,860) (8,659) (27,519) Total ( 3,518) (535) (4,053) Derivative contracts mature as follows (in days): Off-balance sheet – notional amount 0 - 30 31 - 180 181 - 365
Over 365 12/31/2018 Futures contracts 217,836 193,637 33,969 140,591 586,033 Swaps contracts 70,403 96,913 96,090 676,104 939,510 Options 595,515 131,147 329,834 206,072 1,262,568 Forwards (onshore) 1,412 844 85 - 2,341 Credit derivatives - 1,188
680 6,456 8,324 NDF - Non Deliverable Forward 76,032 102,024 30,212 17,087 225,355 Check of swap - 115 - 1,219 1,334 Other derivative financial instruments 8 405 357 4,534 5,304 F-36
Itaú Unibanco Holding S.A. III - Derivatives by notional amount See
below the composition of the Derivative Financial Instruments portfolio by type of instrument, stated at their notional amounts, per trading location (organized or over-the-counter market) and counterparties. 03/31/2019 NDF - Non Other derivative
Forwards Target flow of Futures Swaps Options Credit derivatives Deliverable financial (onshore) swap Forward instruments B3 368,784 20,963 772,375 1,310 - 40,569 - - Over-the-counter market 90,237 896,384 186,155 1,772 9,159 191,172 1,333 5,703
Financial institutions 89,840 656,036 140,017 554 9,159 117,286 - 4,092 Companies 397 193,411 45,764 1,218 - 72,830 1,333 1,611 Individuals - 46,937 374 - - 1,056 - - Total 459,021 917,347 958,530 3,082 9,159 231,741 1,333 5,703 12/31/2018 NDF - Non
Other derivative Forwards Target flow of Futures Swaps Options Credit derivatives Deliverable financial (onshore) swap Forward instruments B3 480,950 20,209 1,106,794 1,912 - 47,628 - - Over-the-counter market 105,083 919,301 155,774 429 8,324
177,727 1,334 5,304 Financial institutions 104,297 702,848 110,859 - 7,742 103,172 - 3,602 Companies 786 150,639 44,464 429 582 73,811 1,334 1,702 Individuals - 65,814 451 - - 744 - - Total 586,033 939,510 1,262,568 2,341 8,324 225,355 1,334 5,304
F-37 Itaú Unibanco Holding S.A. III - Derivatives by notional amount See below the composition of the Derivative Financial Instruments portfolio by type of instrument, stated at their notional amounts, per trading location (organized or
over-the-counter market) and counterparties. 03/31/2019 NDF - Non Other derivative Forwards Target flow of Futures Swaps Options Credit derivatives Deliverable financial (onshore) swap Forward instruments B3 368,784 20,963 772,375 1,310 - 40,569 - -
Over-the-counter market 90,237 896,384 186,155 1,772 9,159 191,172 1,333 5,703 Financial institutions 89,840 656,036 140,017 554 9,159 117,286 - 4,092 Companies 397 193,411 45,764 1,218 - 72,830 1,333 1,611 Individuals - 46,937 374 - - 1,056 - -
Total 459,021 917,347 958,530 3,082 9,159 231,741 1,333 5,703 12/31/2018 NDF - Non Other derivative Forwards Target flow of Futures Swaps Options Credit derivatives Deliverable financial (onshore) swap Forward instruments B3 480,950 20,209 1,106,794
1,912 - 47,628 - - Over-the-counter market 105,083 919,301 155,774 429 8,324 177,727 1,334 5,304 Financial institutions 104,297 702,848 110,859 - 7,742 103,172 - 3,602 Companies 786 150,639 44,464 429 582 73,811 1,334 1,702 Individuals - 65,814 451
- - 744 - - Total 586,033 939,510 1,262,568 2,341 8,324 225,355 1,334 5,304 F-37
Itaú Unibanco Holding S.A. IV - Credit derivatives ITAÚ UNIBANCO
HOLDING buys and sells credit protection in order to meet the needs of its customers, management and mitigation of its portfolios' risk. CDS (credit default swap) is credit derivative in which, upon a default related to the reference entity, the
protection buyer is entitled to receive, from the protection seller, the amount equivalent to the difference between the face value of the CDS contract and the fair value of the liability on the date the contract was settled, also known as the
recovered amount. The protection buyer does not need to hold the debt instrument of the reference entity for it to receive the amounts due pursuant to the CDS contract terms when a credit event occurs. TRS (total return swap) is a transaction in
which a party swaps the total return of an asset or of a basket of assets for regular cash flows, usually interest and a guarantee against capital loss. In a TRS contract, the parties do not transfer the ownership of the assets. 03/31/2019 Maximum
potential From 1 to 3 From 3 to 5 of future payments, Before 1 year Over 5 years years years gross By instrument CDS 6,544 1,124 2,107 3,146 167 Total by instrument 6,544 1,124 2,107 3,146 167 By risk rating Investment grade 2,388 309 522 1,431 126
Below investment grade 4,156 815 1,585 1,715 41 Total by risk 6,544 1,124 2,107 3,146 167 By reference entity Brazilian government 3,008 674 1,153 1,162 19 Government – abroad 1,052 92 112 798 50 Private entities 2,484 358 842 1,186 98 Total
by entity 6,544 1,124 2,107 3,146 167 12/31/2018 Maximum potential From 1 to 3 From 3 to 5 Before 1 year Over 5 years of future payments, years years gross By instrument CDS 6,853 1,685 1,913 3,203 52 Total by instrument 6,853 1,685 1,913 3,203 52
By risk rating Investment grade 1,361 300 510 539 12 Below investment grade 5,492 1,385 1,403 2,664 40 Total by risk 6,853 1,685 1,913 3,203 52 By reference entity Brazilian government 3,772 1,167 1,118 1,487 - Government – abroad 314 71 85
156 2 Private entities 2,767 447 710 1,560 50 Total by entity 6,853 1,685 1,913 3,203 52 ITAÚ UNIBANCO HOLDING assesses the risk of a credit derivative based on the credit ratings attributed to the reference entity by independent credit rating
agencies. Investment grade are those entities for which credit risk is rated as Baa3 or higher, as rated by Moody's, and BBB- or higher, according to the ratings of Standard & Poor’s and Fitch Ratings. The following table presents the
notional amount of purchased credit derivatives whose underlying amounts are identical to those for which ITAÚ UNIBANCO HOLDING operates as seller of the credit protection. F-38 Itaú Unibanco Holding S.A. IV - Credit derivatives ITAÚ
UNIBANCO HOLDING buys and sells credit protection in order to meet the needs of its customers, management and mitigation of its portfolios' risk. CDS (credit default swap) is credit derivative in which, upon a default related to the reference
entity, the protection buyer is entitled to receive, from the protection seller, the amount equivalent to the difference between the face value of the CDS contract and the fair value of the liability on the date the contract was settled, also known
as the recovered amount. The protection buyer does not need to hold the debt instrument of the reference entity for it to receive the amounts due pursuant to the CDS contract terms when a credit event occurs. TRS (total return swap) is a transaction
in which a party swaps the total return of an asset or of a basket of assets for regular cash flows, usually interest and a guarantee against capital loss. In a TRS contract, the parties do not transfer the ownership of the assets. 03/31/2019
Maximum potential From 1 to 3 From 3 to 5 of future payments, Before 1 year Over 5 years years years gross By instrument CDS 6,544 1,124 2,107 3,146 167 Total by instrument 6,544 1,124 2,107 3,146 167 By risk rating Investment grade 2,388 309 522
1,431 126 Below investment grade 4,156 815 1,585 1,715 41 Total by risk 6,544 1,124 2,107 3,146 167 By reference entity Brazilian government 3,008 674 1,153 1,162 19 Government – abroad 1,052 92 112 798 50 Private entities 2,484 358 842 1,186
98 Total by entity 6,544 1,124 2,107 3,146 167 12/31/2018 Maximum potential From 1 to 3 From 3 to 5 Before 1 year Over 5 years of future payments, years years gross By instrument CDS 6,853 1,685 1,913 3,203 52 Total by instrument 6,853 1,685 1,913
3,203 52 By risk rating Investment grade 1,361 300 510 539 12 Below investment grade 5,492 1,385 1,403 2,664 40 Total by risk 6,853 1,685 1,913 3,203 52 By reference entity Brazilian government 3,772 1,167 1,118 1,487 - Government – abroad 314
71 85 156 2 Private entities 2,767 447 710 1,560 50 Total by entity 6,853 1,685 1,913 3,203 52 ITAÚ UNIBANCO HOLDING assesses the risk of a credit derivative based on the credit ratings attributed to the reference entity by independent credit
rating agencies. Investment grade are those entities for which credit risk is rated as Baa3 or higher, as rated by Moody's, and BBB- or higher, according to the ratings of Standard & Poor’s and Fitch Ratings. The following table presents
the notional amount of purchased credit derivatives whose underlying amounts are identical to those for which ITAÚ UNIBANCO HOLDING operates as seller of the credit protection. F-38
Itaú Unibanco Holding S.A. 03/31/2019 Notional amount of credit
protection Notional amount of credit purchased with identical underlying Net position protection sold amount CDS (6,544) 2,616 ( 3,928) Total (6,544) 2,616 (3,928) 12/31/2018 Notional amount of credit protection Notional amount of credit purchased
with identical underlying Net position protection sold amount CDS ( 6,853) 1,471 (5,382) Total (6,853) 1,471 ( 5,382) F-39 Itaú Unibanco Holding S.A. 03/31/2019 Notional amount of credit protection Notional amount of credit purchased with
identical underlying Net position protection sold amount CDS (6,544) 2,616 ( 3,928) Total (6,544) 2,616 (3,928) 12/31/2018 Notional amount of credit protection Notional amount of credit purchased with identical underlying Net position protection
sold amount CDS ( 6,853) 1,471 (5,382) Total (6,853) 1,471 ( 5,382) F-39
Itaú Unibanco Holding S.A. V - Financial instruments subject to
offsetting, enforceable master netting arrangements and similar agreements The following tables set forth the financial assets and liabilities that are subject to offsetting, enforceable master netting arrangements, as well as how these financial
assets and liabilities have been presented in ITAÚ UNIBANCO HOLDING's consolidated financial statements. These tables also reflect the amounts of collateral pledged or received in relation to financial assets and liabilities subject to
enforceable arrangements that have not been presented on a net basis in accordance with IAS 32. Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements: 03/31/2019 Related amounts not offset in the
statement of financial Gross amount of Net amount of financial assets (2) Gross amount offset in the position recognized presented in the statement of Net amount statement of financial position (1) (3) financial position financial assets Cash
collateral received Financial instruments Securities purchased under agreements to resell 259,589 - 259,589 (640) - 258,949 Derivatives 24,084 - 24,084 (2,404) - 21,680 12/31/2018 Related amounts not offset in the statement of financial Gross amount
of Net amount of financial assets (2) Gross amount offset in the position recognized presented in the statement of Net amount statement of financial position (1) (3) financial position Cash collateral received financial assets Financial instruments
Securities purchased under agreements to resell 280,132 - 280,132 (2,822) - 277,310 Derivatives 23,466 - 23,466 (3,091) - 20,375 Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements: 03/31/2019
Gross amount of Related amounts not offset in the statement of financial Net amount of financial liabilities (2) recognized Gross amount offset in the position presented in the statement of Net amount statement of financial position financial
liabilities (3) financial position Cash collateral pledged Financial instruments (1) Securities sold under repurchase agreements 313,808 - 313,808 (26,404) - 287,404 Derivatives 27,796 - 27,796 (2,404) (524) 24,868 12/31/2018 Gross amount of Related
amounts not offset in the statement of financial Net amount of financial liabilities (2) recognized Gross amount offset in the position presented in the statement of Net amount financial liabilities statement of financial position (3) financial
position Financial instruments Cash collateral pledged (1) Securities sold under repurchase agreements 330,237 - 330,237 (23,079) - 307,158 Derivatives 27,519 - 27,519 (3,091) (333) 24,095 (1) Includes amounts of master offset agreements and other
such agreements, both enforceable and unenforceable; (2) Limited to amounts subject to enforceable master offset agreements and other such agreements; (3) Includes amounts subject to enforceable master offset agreements and other such agreements,
and guarantees in financial instruments. Financial assets and financial liabilities are offset in the balance sheet only when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis,
or realize the asset and settle the liability simultaneously. Derivatives and repurchased agreements not set off in the balance sheet relate to transactions in which there are enforceable master netting agreements or similar agreements, but the
offset criteria have not been met in accordance with paragraph 42 of IAS 32 mainly because ITAÚ UNIBANCO HOLDING has no intention to settle on a net basis, or realize the asset and settle the liability simultaneously. F-40 Itaú Unibanco
Holding S.A. V - Financial instruments subject to offsetting, enforceable master netting arrangements and similar agreements The following tables set forth the financial assets and liabilities that are subject to offsetting, enforceable master
netting arrangements, as well as how these financial assets and liabilities have been presented in ITAÚ UNIBANCO HOLDING's consolidated financial statements. These tables also reflect the amounts of collateral pledged or received in relation to
financial assets and liabilities subject to enforceable arrangements that have not been presented on a net basis in accordance with IAS 32. Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements:
03/31/2019 Related amounts not offset in the statement of financial Gross amount of Net amount of financial assets (2) Gross amount offset in the position recognized presented in the statement of Net amount statement of financial position (1) (3)
financial position financial assets Cash collateral received Financial instruments Securities purchased under agreements to resell 259,589 - 259,589 (640) - 258,949 Derivatives 24,084 - 24,084 (2,404) - 21,680 12/31/2018 Related amounts not offset
in the statement of financial Gross amount of Net amount of financial assets (2) Gross amount offset in the position recognized presented in the statement of Net amount statement of financial position (1) (3) financial position Cash collateral
received financial assets Financial instruments Securities purchased under agreements to resell 280,132 - 280,132 (2,822) - 277,310 Derivatives 23,466 - 23,466 (3,091) - 20,375 Financial liabilities subject to offsetting, enforceable master netting
arrangements and similar agreements: 03/31/2019 Gross amount of Related amounts not offset in the statement of financial Net amount of financial liabilities (2) recognized Gross amount offset in the position presented in the statement of Net amount
statement of financial position financial liabilities (3) financial position Cash collateral pledged Financial instruments (1) Securities sold under repurchase agreements 313,808 - 313,808 (26,404) - 287,404 Derivatives 27,796 - 27,796 (2,404) (524)
24,868 12/31/2018 Gross amount of Related amounts not offset in the statement of financial Net amount of financial liabilities (2) recognized Gross amount offset in the position presented in the statement of Net amount financial liabilities
statement of financial position (3) financial position Financial instruments Cash collateral pledged (1) Securities sold under repurchase agreements 330,237 - 330,237 (23,079) - 307,158 Derivatives 27,519 - 27,519 (3,091) (333) 24,095 (1) Includes
amounts of master offset agreements and other such agreements, both enforceable and unenforceable; (2) Limited to amounts subject to enforceable master offset agreements and other such agreements; (3) Includes amounts subject to enforceable master
offset agreements and other such agreements, and guarantees in financial instruments. Financial assets and financial liabilities are offset in the balance sheet only when there is a legally enforceable right to offset the recognized amounts and
there is an intention to settle on a net basis, or realize the asset and settle the liability simultaneously. Derivatives and repurchased agreements not set off in the balance sheet relate to transactions in which there are enforceable master
netting agreements or similar agreements, but the offset criteria have not been met in accordance with paragraph 42 of IAS 32 mainly because ITAÚ UNIBANCO HOLDING has no intention to settle on a net basis, or realize the asset and settle the
liability simultaneously. F-40
Itaú Unibanco Holding S.A. Note 7 – Hedge accounting There are
three types of hedge relations: Fair value hedge, Cash flow hedge, and Hedge of net investment in foreign operations. In hedge accounting, the groups of risk factors measured by ITAÚ UNIBANCO HOLDING are: · Interest Rate: Risk of loss in
transactions subject to interest rate variations; · Currency: Risk of loss in transactions subject to exchange variation. The structure of risk limits is extended to the risk factor level, with specific limits that aim at improving the
monitoring and understanding process, as well as avoiding concentration of these risks. The structures designed for categories of interest rate and exchange rate are realized considering aggregate risks when there are compatible hedge instruments.
Due to a management’s decision, in certain cases risks are hedged for the term and limit of the hedge instrument risk factor. The other risk factors hedged by the institution are presented in Note 32. To protect cash flows and fair value of
instruments designated as hedged items, ITAÚ UNIBANCO HOLDING uses derivative financial instruments and financial assets. Currently, Futures Contracts, Options, NDF (non- deliverable forward), Forward, Swap and Financial Assets are used.
ITAÚ UNIBANCO HOLDING manages risks through the economic relationship between hedge instruments and hedged items, where the expectation is that these instruments move in opposite directions and in the same proportion, with the purpose of
neutralizing risk factors. The designated coverage ratio is always 100% of the risk factor eligible for coverage. The sources of ineffectiveness are in general related to the counterparty’s credit risk and possible mismatches of terms between
the hedge instrument and the hedged item. a) Cash flow hedge The cash flow hedge strategies of ITAÚ UNIBANCO HOLDING consist of a hedge of exposure to variations in cash flows, payment of interest and exposure to interest rate, which are
attributable to changes in interest rates related to assets and liabilities recognized and changes in interest rates of unrecognized assets and liabilities. ITAÚ UNIBANCO HOLDING has applied cash flow hedge strategies as follows: Interest rate
risks · Hedge of time deposits and repurchase agreements: to hedge of the variability in cash flows of interest payments resulting from changes in the DI interest rate, through futures contracts; · Hedge of asset transactions: to hedge the
variations in cash flows of interest receipts resulting from changes in the DI rate, through futures contracts; · Hedge of assets denominated in UF*: to hedge the variations in cash flows of interest receipts resulting from changes in the UF*,
through swap contracts; · Hedge of Funding: to hedge the variations in cash flows of interest payments resulting from changes in the TPM* rate and foreign exchange, through swap contracts; · Hedge of loan operations: to hedge the
variations in cash flows of interest receipts resulting from changes in the TPM* rate, through swap contracts; · Hedge of asset-backed securities under repurchase agreements: to hedge changes in cash flows from interest received on changes in
Selic (benchmark interest rate), through futures contracts. *UF – Chilean unit of account / TPM – Monetary policy rate ITAÚ UNIBANCO HOLDING does not use the qualitative method to evaluate the effectiveness and to measure the
ineffectiveness of such strategies. In such strategies of cash flow hedge, ITAÚ UNIBANCO HOLDING uses the hypothetical derivative method. The hypothetical derivative method is based on a comparison of the change in the fair value of a
hypothetical derivative with terms identical to the critical terms of the variable-rate liability, and this change in the fair value of a hypothetical derivative is considered a proxy of the present value of the cumulative change in the future cash
flow expected for the hedged liability. F-41 Itaú Unibanco Holding S.A. Note 7 – Hedge accounting There are three types of hedge relations: Fair value hedge, Cash flow hedge, and Hedge of net investment in foreign operations. In hedge
accounting, the groups of risk factors measured by ITAÚ UNIBANCO HOLDING are: · Interest Rate: Risk of loss in transactions subject to interest rate variations; · Currency: Risk of loss in transactions subject to exchange variation.
The structure of risk limits is extended to the risk factor level, with specific limits that aim at improving the monitoring and understanding process, as well as avoiding concentration of these risks. The structures designed for categories of
interest rate and exchange rate are realized considering aggregate risks when there are compatible hedge instruments. Due to a management’s decision, in certain cases risks are hedged for the term and limit of the hedge instrument risk factor.
The other risk factors hedged by the institution are presented in Note 32. To protect cash flows and fair value of instruments designated as hedged items, ITAÚ UNIBANCO HOLDING uses derivative financial instruments and financial assets.
Currently, Futures Contracts, Options, NDF (non- deliverable forward), Forward, Swap and Financial Assets are used. ITAÚ UNIBANCO HOLDING manages risks through the economic relationship between hedge instruments and hedged items, where the
expectation is that these instruments move in opposite directions and in the same proportion, with the purpose of neutralizing risk factors. The designated coverage ratio is always 100% of the risk factor eligible for coverage. The sources of
ineffectiveness are in general related to the counterparty’s credit risk and possible mismatches of terms between the hedge instrument and the hedged item. a) Cash flow hedge The cash flow hedge strategies of ITAÚ UNIBANCO HOLDING consist
of a hedge of exposure to variations in cash flows, payment of interest and exposure to interest rate, which are attributable to changes in interest rates related to assets and liabilities recognized and changes in interest rates of unrecognized
assets and liabilities. ITAÚ UNIBANCO HOLDING has applied cash flow hedge strategies as follows: Interest rate risks · Hedge of time deposits and repurchase agreements: to hedge of the variability in cash flows of interest payments
resulting from changes in the DI interest rate, through futures contracts; · Hedge of asset transactions: to hedge the variations in cash flows of interest receipts resulting from changes in the DI rate, through futures contracts; · Hedge
of assets denominated in UF*: to hedge the variations in cash flows of interest receipts resulting from changes in the UF*, through swap contracts; · Hedge of Funding: to hedge the variations in cash flows of interest payments resulting from
changes in the TPM* rate and foreign exchange, through swap contracts; · Hedge of loan operations: to hedge the variations in cash flows of interest receipts resulting from changes in the TPM* rate, through swap contracts; · Hedge of
asset-backed securities under repurchase agreements: to hedge changes in cash flows from interest received on changes in Selic (benchmark interest rate), through futures contracts. *UF – Chilean unit of account / TPM – Monetary policy
rate ITAÚ UNIBANCO HOLDING does not use the qualitative method to evaluate the effectiveness and to measure the ineffectiveness of such strategies. In such strategies of cash flow hedge, ITAÚ UNIBANCO HOLDING uses the hypothetical
derivative method. The hypothetical derivative method is based on a comparison of the change in the fair value of a hypothetical derivative with terms identical to the critical terms of the variable-rate liability, and this change in the fair value
of a hypothetical derivative is considered a proxy of the present value of the cumulative change in the future cash flow expected for the hedged liability. F-41
Itaú Unibanco Holding S.A. 03/31/2019 Hedged item Hedge instrument
Book Value Variation in the Strategies Heading Variation in value Cash flow Nominal amounts used to recognized in Other hedge Value calculate hedge Assets Liabilities comprehensive income reserve ineffectiveness Interest rate risk Securities
purchased under Hedge of deposits and repurchase agreements - 20,336 (1,693) (2,766) 20,336 (1,818) agreements to resell Loan operations and lease operations Hedge of assets transactions 1,566 - 123 123 1,693 123 and Securities Securities purchased
under Hedge of Asset-backed securities under repurchase agreements 12,758 - 334 334 13,645 334 agreements to resell Hedge of loan operations Loan operations and lease operations 282 - 7 7 275 9 - 3,416 (12) (4) 3,403 (12) Deposits Hedge of funding
Hedge of assets denominated in UF Securities 8,525 - (22) (22) 8,547 (27) Foreign exchange risk 25 - 1 1 25 1 Hedge of highly probable forecast transactions Total 23,156 23,752 (1,262) (2,327) 47,924 (1,390) 12/31/2018 Hedged item Hedge instrument
Book Value Variation in the Strategies Heading Variation in value Cash flow Nominal amounts used to recognized in Other hedge Value calculate hedge Assets Liabilities comprehensive income reserve ineffectiveness Interest rate risk Securities
purchased under - 29,727 (1,682) (2,946) 29,727 (1,800) Hedge of deposits and repurchase agreements agreements to resell Loan operations and lease operations 7,866 - 136 136 8,003 136 and Securities Hedge of assets transactions Securities purchased
under 36,668 - 353 353 38,013 359 Hedge of Asset-backed securities under repurchase agreements agreements to resell 274 - 6 6 268 7 Hedge of loan operations Loan operations and lease operations Hedge of funding Deposits - 3,200 78 86 3,105 82 Hedge
of assets denominated in UF Securities 13,247 - 26 26 13,221 23 Foreign exchange risk Hedge of highly probable forecast transactions 71 - 6 6 71 6 Total 58,126 32,927 (1,077) (2,333) 92,408 (1,187) For strategies of deposits and repurchase
agreements to resell, asset transactions and asset-backed securities under repurchase agreements, the entity frequently reestablishes the coverage relationship, since both the hedged item and instruments change over time. This is so because they are
portfolio strategies, reflecting guidelines for risk management strategy approved in the proper approval level. The amount of R$ (1,067) in Reserve of Cash Flow Hedge will be recognized in result for the maturity term of the hedged item. In the
period ended March 31, 2019, the amount of R$ (187) was recognized in Result related to this deferral. 03/31/2019 (*) Variations in fair Variation in value Hedge ineffecti- Amount Book Value Hedge Instruments Nominal value used to recognized in
Other veness reclassified from Value calculate hedge comprehensive recognized in Cash flow hedge Assets Liabilities ineffectiveness income income reserve to income Interest rate risk Interest rate futures 35,674 266 - (1,362) (1,236) (126) -
Interest rate Swap 12,225 3,415 8,804 (29) (27) (2) - Foreign currency risk DDI futures 25 24 - 1 1 - - Total 47,924 3,705 8,804 (1,390) (1,262) (128) - 12/31/2018 Variations in fair Variation in value Hedge ineffecti- Amount Book Value (*) Hedge
Instruments Nominal value used to recognized in Other veness reclassified from Value calculate hedge comprehensive recognized in Cash flow hedge Assets Liabilities ineffectiveness income income reserve to income Interest rate risk Interest rate
futures 75,743 256 21 (1,305) (1,193) (112) - Interest rate Swap 16,594 3,023 13519 112 110 2 - Foreign currency risk DDI futures 6 5 - 1 1 - - Option 65 9 - 5 5 - - Total 92,408 3,293 13,540 (1,187) (1,077) (110) - (*) Amounts recorded in the
Derivatives. For strategies of deposits and repurchase agreements to resell, asset transactions and asset-backed securities under repurchase agreements, the entity frequently reestablishes the coverage relationship, since both the hedged item and
instruments change over time. This is so because they are portfolio strategies, reflecting guidelines for risk management strategy approved in the proper approval level. F-42 Itaú Unibanco Holding S.A. 03/31/2019 Hedged item Hedge instrument
Book Value Variation in the Strategies Heading Variation in value Cash flow Nominal amounts used to recognized in Other hedge Value calculate hedge Assets Liabilities comprehensive income reserve ineffectiveness Interest rate risk Securities
purchased under Hedge of deposits and repurchase agreements - 20,336 (1,693) (2,766) 20,336 (1,818) agreements to resell Loan operations and lease operations Hedge of assets transactions 1,566 - 123 123 1,693 123 and Securities Securities purchased
under Hedge of Asset-backed securities under repurchase agreements 12,758 - 334 334 13,645 334 agreements to resell Hedge of loan operations Loan operations and lease operations 282 - 7 7 275 9 - 3,416 (12) (4) 3,403 (12) Deposits Hedge of funding
Hedge of assets denominated in UF Securities 8,525 - (22) (22) 8,547 (27) Foreign exchange risk 25 - 1 1 25 1 Hedge of highly probable forecast transactions Total 23,156 23,752 (1,262) (2,327) 47,924 (1,390) 12/31/2018 Hedged item Hedge instrument
Book Value Variation in the Strategies Heading Variation in value Cash flow Nominal amounts used to recognized in Other hedge Value calculate hedge Assets Liabilities comprehensive income reserve ineffectiveness Interest rate risk Securities
purchased under - 29,727 (1,682) (2,946) 29,727 (1,800) Hedge of deposits and repurchase agreements agreements to resell Loan operations and lease operations 7,866 - 136 136 8,003 136 and Securities Hedge of assets transactions Securities purchased
under 36,668 - 353 353 38,013 359 Hedge of Asset-backed securities under repurchase agreements agreements to resell 274 - 6 6 268 7 Hedge of loan operations Loan operations and lease operations Hedge of funding Deposits - 3,200 78 86 3,105 82 Hedge
of assets denominated in UF Securities 13,247 - 26 26 13,221 23 Foreign exchange risk Hedge of highly probable forecast transactions 71 - 6 6 71 6 Total 58,126 32,927 (1,077) (2,333) 92,408 (1,187) For strategies of deposits and repurchase
agreements to resell, asset transactions and asset-backed securities under repurchase agreements, the entity frequently reestablishes the coverage relationship, since both the hedged item and instruments change over time. This is so because they are
portfolio strategies, reflecting guidelines for risk management strategy approved in the proper approval level. The amount of R$ (1,067) in Reserve of Cash Flow Hedge will be recognized in result for the maturity term of the hedged item. In the
period ended March 31, 2019, the amount of R$ (187) was recognized in Result related to this deferral. 03/31/2019 (*) Variations in fair Variation in value Hedge ineffecti- Amount Book Value Hedge Instruments Nominal value used to recognized in
Other veness reclassified from Value calculate hedge comprehensive recognized in Cash flow hedge Assets Liabilities ineffectiveness income income reserve to income Interest rate risk Interest rate futures 35,674 266 - (1,362) (1,236) (126) -
Interest rate Swap 12,225 3,415 8,804 (29) (27) (2) - Foreign currency risk DDI futures 25 24 - 1 1 - - Total 47,924 3,705 8,804 (1,390) (1,262) (128) - 12/31/2018 Variations in fair Variation in value Hedge ineffecti- Amount Book Value (*) Hedge
Instruments Nominal value used to recognized in Other veness reclassified from Value calculate hedge comprehensive recognized in Cash flow hedge Assets Liabilities ineffectiveness income income reserve to income Interest rate risk Interest rate
futures 75,743 256 21 (1,305) (1,193) (112) - Interest rate Swap 16,594 3,023 13519 112 110 2 - Foreign currency risk DDI futures 6 5 - 1 1 - - Option 65 9 - 5 5 - - Total 92,408 3,293 13,540 (1,187) (1,077) (110) - (*) Amounts recorded in the
Derivatives. For strategies of deposits and repurchase agreements to resell, asset transactions and asset-backed securities under repurchase agreements, the entity frequently reestablishes the coverage relationship, since both the hedged item and
instruments change over time. This is so because they are portfolio strategies, reflecting guidelines for risk management strategy approved in the proper approval level. F-42
Itaú Unibanco Holding S.A. b) Hedge of net investment in foreign
operations ITAÚ UNIBANCO HOLDING strategies of net investments in foreign operations consist of a hedge of the exposure in foreign currency arising from the functional currency of the foreign operation, with respect to the functional currency
of the head office, by contracting futures, DDI, NDF and financial assets. The risk hedged in this type of strategy is the foreign exchange risk. ITAÚ UNIBANCO HOLDING does not use the qualitative method to assess the effectiveness and measure
the ineffectiveness of these strategies. To evaluate the effectiveness and to measure the ineffectiveness of such strategies, ITAÚ UNIBANCO HOLDING uses the Dollar Offset Method. The Dollar Offset Method is based on a comparison of the change
in fair value (cash flow) of the hedge instrument, attributable to changes in exchange rate and gain (loss) arising from the variation in exchange rates, on the amount of investment abroad designated as a hedged item. 03/31/2019 Hedged item Hedge
instrument (2) Variation in the Book Value Strategies Variation in value Foreign currency Nominal amounts used to recognized in Other convertion Value calculate hedge Assets Liabilities comprehensive income ineffectiveness Foreign exchange risk (1)
Hedge of net investment in foreign operations - 15,010 (7,574) (7,574) 12,646 (7,570) Total - 15,010 (7,574) (7,574) 12,646 (7,570) 12/31/2018 Hedged item Hedge instrument (2) Variation in the Book Value Strategies Variation in value Foreign
currency Nominal amounts used to recognized in Other convertion Value calculate hedge Assets Liabilities comprehensive income ineffectiveness Foreign exchange risk (1) Hedge of net investment in foreign operations - 14,820 (7,300) (7,300) 12,550
(7,296) Total - 14,820 (7,300) (7,300) 12,550 (7,296) (1) Hedge instruments include the overhedge rate of 44.65% regarding taxes. (2) Amounts recorded in the Hedge of net investment in foreign operation. 03/31/2019 (*) Variations in fair Variation
in value Hedge Amount reclassified Book Value Hedge instruments Nominal value used to recognized in Other ineffectiveness from foreign currency Value calculate hedge comprehensive recognized in convertion into Assets Liabilities ineffectiveness
income income income Foreign exchange risk DDI futures 28,148 - 4 (11,557) (11,516) (41) - Forward (1,479) 2,196 - 765 727 38 - NDF (13,241) 203 - 3,108 3,099 9 - Financial Assets (782) 783 - 114 116 (2) - Total 12,646 3,182 4 (7,570) (7,574) 4 -
12/31/2018 (*) Variations in fair Variation in value Hedge Amount reclassified Book Value Hedge instruments Nominal value used to recognized in Other ineffectiveness from foreign currency Value calculate hedge comprehensive recognized in convertion
into Assets Liabilities ineffectiveness income income income Foreign exchange risk DDI futures 27,990 - 113 (11,394) (11,353) (41) - Forward (1,470) 1,059 - 764 726 38 - NDF (13,167) 255 - 3,198 3,189 9 - Financial Assets (803) 803 - 136 138 (2) -
Total 12,550 2,117 113 (7,296) (7,300) 4 - (*) Amounts recorded in the Derivatives. F-43 Itaú Unibanco Holding S.A. b) Hedge of net investment in foreign operations ITAÚ UNIBANCO HOLDING strategies of net investments in foreign operations
consist of a hedge of the exposure in foreign currency arising from the functional currency of the foreign operation, with respect to the functional currency of the head office, by contracting futures, DDI, NDF and financial assets. The risk hedged
in this type of strategy is the foreign exchange risk. ITAÚ UNIBANCO HOLDING does not use the qualitative method to assess the effectiveness and measure the ineffectiveness of these strategies. To evaluate the effectiveness and to measure the
ineffectiveness of such strategies, ITAÚ UNIBANCO HOLDING uses the Dollar Offset Method. The Dollar Offset Method is based on a comparison of the change in fair value (cash flow) of the hedge instrument, attributable to changes in exchange rate
and gain (loss) arising from the variation in exchange rates, on the amount of investment abroad designated as a hedged item. 03/31/2019 Hedged item Hedge instrument (2) Variation in the Book Value Strategies Variation in value Foreign currency
Nominal amounts used to recognized in Other convertion Value calculate hedge Assets Liabilities comprehensive income ineffectiveness Foreign exchange risk (1) Hedge of net investment in foreign operations - 15,010 (7,574) (7,574) 12,646 (7,570)
Total - 15,010 (7,574) (7,574) 12,646 (7,570) 12/31/2018 Hedged item Hedge instrument (2) Variation in the Book Value Strategies Variation in value Foreign currency Nominal amounts used to recognized in Other convertion Value calculate hedge Assets
Liabilities comprehensive income ineffectiveness Foreign exchange risk (1) Hedge of net investment in foreign operations - 14,820 (7,300) (7,300) 12,550 (7,296) Total - 14,820 (7,300) (7,300) 12,550 (7,296) (1) Hedge instruments include the
overhedge rate of 44.65% regarding taxes. (2) Amounts recorded in the Hedge of net investment in foreign operation. 03/31/2019 (*) Variations in fair Variation in value Hedge Amount reclassified Book Value Hedge instruments Nominal value used to
recognized in Other ineffectiveness from foreign currency Value calculate hedge comprehensive recognized in convertion into Assets Liabilities ineffectiveness income income income Foreign exchange risk DDI futures 28,148 - 4 (11,557) (11,516) (41) -
Forward (1,479) 2,196 - 765 727 38 - NDF (13,241) 203 - 3,108 3,099 9 - Financial Assets (782) 783 - 114 116 (2) - Total 12,646 3,182 4 (7,570) (7,574) 4 - 12/31/2018 (*) Variations in fair Variation in value Hedge Amount reclassified Book Value
Hedge instruments Nominal value used to recognized in Other ineffectiveness from foreign currency Value calculate hedge comprehensive recognized in convertion into Assets Liabilities ineffectiveness income income income Foreign exchange risk DDI
futures 27,990 - 113 (11,394) (11,353) (41) - Forward (1,470) 1,059 - 764 726 38 - NDF (13,167) 255 - 3,198 3,189 9 - Financial Assets (803) 803 - 136 138 (2) - Total 12,550 2,117 113 (7,296) (7,300) 4 - (*) Amounts recorded in the Derivatives. F-43
Itaú Unibanco Holding S.A. c) Fair value hedge The fair value hedge
strategy of ITAÚ UNIBANCO HOLDING consists in hedging the exposure to variation in fair value, in the receipt and payment of interest related to recognized assets and liabilities. ITAÚ UNIBANCO HOLDING has applied fair value hedge as
follows: Interest rate risk: · To protect the risk of variation in the fair value of receipt and payment of interest resulting from variations in the fair value of variable rates involved, by contracting swaps and futures. ITAÚ UNIBANCO
HOLDING does not use the qualitative method to assess effectiveness and to measure ineffectiveness of these strategies. To evaluate the effectiveness and to measure the ineffectiveness of such strategy, ITAÚ UNIBANCO HOLDING uses the percentage
approach and dollar offset method: · The percentage approach is based on the calculation of change in the fair value of the reviewed estimate for the hedged position (hedge item) attributable to the protected risk versus the change in the fair
value of the hedged derivative instrument. · The dollar offset method is calculated based on the difference between the variation of the fair value of the hedging instrument and the variation in the fair value of the hedged item attributed to
changes in the interest rate. The effects of hedge accounting on the financial position and performance of ITAÚ UNIBANCO HOLDING are presented below: 03/31/2019 Hedged Item Hedge Instruments Variation in the Book Value (*) Fair value Strategies
Variation in value amounts used to Nominal recognized in calculate hedge Value Assets Liabilities Assets Liabilities income ineffectiveness Interest rate risk Hedge of loan operations 6,892 - 7,006 - 114 6,892 (115) Hedge of funding - 9,217 - 9,011
(206) 9,217 205 Hedge of fair value through other comprehensive 4,863 - 4,864 - 1 4,925 (6) income Total 11,755 9,217 11,870 9,011 (91) 21,034 84 12/31/2018 Hedged Item Hedge Instruments Variation in the Book Value (*) Fair value Strategies
Variation in value amounts used to Nominal recognized in calculate hedge Value income Assets Liabilities Assets Liabilities ineffectiveness Interest rate risk Hedge of loan operations 7,066 - 7,119 - 53 7,066 (54) Hedge of funding - 9,124 - 9,081
(43) 9,124 43 Hedge of syndicated loan Hedge of fair value through other comprehensive 5,391 - 5,483 - 93 5,401 (82) income Total 12,457 9,124 12,602 9,081 103 21,591 (93) (*) Amounts recorded in the heading Deposits, Securities, Funds from
Interbank Markets and Loan and Lease Operation. For loan operations strategies, the entity reestablishes the coverage ratio, since both the hedged item and the instruments change over time. This occurs because they are portfolio strategies that
reflect the risk management strategy guidelines approved in the proper authority level. F-44 Itaú Unibanco Holding S.A. c) Fair value hedge The fair value hedge strategy of ITAÚ UNIBANCO HOLDING consists in hedging the exposure to
variation in fair value, in the receipt and payment of interest related to recognized assets and liabilities. ITAÚ UNIBANCO HOLDING has applied fair value hedge as follows: Interest rate risk: · To protect the risk of variation in the fair
value of receipt and payment of interest resulting from variations in the fair value of variable rates involved, by contracting swaps and futures. ITAÚ UNIBANCO HOLDING does not use the qualitative method to assess effectiveness and to measure
ineffectiveness of these strategies. To evaluate the effectiveness and to measure the ineffectiveness of such strategy, ITAÚ UNIBANCO HOLDING uses the percentage approach and dollar offset method: · The percentage approach is based on the
calculation of change in the fair value of the reviewed estimate for the hedged position (hedge item) attributable to the protected risk versus the change in the fair value of the hedged derivative instrument. · The dollar offset method is
calculated based on the difference between the variation of the fair value of the hedging instrument and the variation in the fair value of the hedged item attributed to changes in the interest rate. The effects of hedge accounting on the financial
position and performance of ITAÚ UNIBANCO HOLDING are presented below: 03/31/2019 Hedged Item Hedge Instruments Variation in the Book Value (*) Fair value Strategies Variation in value amounts used to Nominal recognized in calculate hedge Value
Assets Liabilities Assets Liabilities income ineffectiveness Interest rate risk Hedge of loan operations 6,892 - 7,006 - 114 6,892 (115) Hedge of funding - 9,217 - 9,011 (206) 9,217 205 Hedge of fair value through other comprehensive 4,863 - 4,864 -
1 4,925 (6) income Total 11,755 9,217 11,870 9,011 (91) 21,034 84 12/31/2018 Hedged Item Hedge Instruments Variation in the Book Value (*) Fair value Strategies Variation in value amounts used to Nominal recognized in calculate hedge Value income
Assets Liabilities Assets Liabilities ineffectiveness Interest rate risk Hedge of loan operations 7,066 - 7,119 - 53 7,066 (54) Hedge of funding - 9,124 - 9,081 (43) 9,124 43 Hedge of syndicated loan Hedge of fair value through other comprehensive
5,391 - 5,483 - 93 5,401 (82) income Total 12,457 9,124 12,602 9,081 103 21,591 (93) (*) Amounts recorded in the heading Deposits, Securities, Funds from Interbank Markets and Loan and Lease Operation. For loan operations strategies, the entity
reestablishes the coverage ratio, since both the hedged item and the instruments change over time. This occurs because they are portfolio strategies that reflect the risk management strategy guidelines approved in the proper authority level. F-44
Itaú Unibanco Holding S.A. 03/31/2019 (1) Variation in the amount
Book value Hedge Instruments Nominal Hedge ineffectiveness used to calculate hedge Value recognized in income Assets Liabilities ineffectiveness Interest rate risk (2) 21,034 179 4,045 84 (7) Interest rate Swap Total 21,034 179 4,045 84 (7)
12/31/2018 (1) Variation in the amount Book value Hedge Instruments Nominal Hedge ineffectiveness used to calculate hedge Value recognized in income Assets Liabilities ineffectiveness Interest rate risk (2) 21,591 86 1,078 (93) 10 Interest rate Swap
Total 21,591 86 1,078 (93) 10 (1) Amounts recorded in the Derivatives. (2) In the period, the amount of R$ 1 is no longer qualified as hedge. F-45 Itaú Unibanco Holding S.A. 03/31/2019 (1) Variation in the amount Book value Hedge Instruments
Nominal Hedge ineffectiveness used to calculate hedge Value recognized in income Assets Liabilities ineffectiveness Interest rate risk (2) 21,034 179 4,045 84 (7) Interest rate Swap Total 21,034 179 4,045 84 (7) 12/31/2018 (1) Variation in the
amount Book value Hedge Instruments Nominal Hedge ineffectiveness used to calculate hedge Value recognized in income Assets Liabilities ineffectiveness Interest rate risk (2) 21,591 86 1,078 (93) 10 Interest rate Swap Total 21,591 86 1,078 (93) 10
(1) Amounts recorded in the Derivatives. (2) In the period, the amount of R$ 1 is no longer qualified as hedge. F-45
Itaú Unibanco Holding S.A. The tables below present, for each
strategy, the nominal value and the fair value adjustments of hedge instruments and the book value of the hedged item: 03/31/2019 12/31/2018 Hedge instruments Hedged item Hedge instruments Hedged item Strategies Nominal Fair value Nominal Fair value
Book Value Book Value Value adjustments Value adjustments Hedge of deposits and repurchase agreements 20,336 11 20,336 29,727 ( 21) 29,727 Hedge of highly probable forecast transactions 25 1 25 71 6 71 Hedge of net investment in foreign operations
12,646 3,178 15,010 12,550 2,230 14,820 Hedge of loan operations (Fair value) 6,892 (115) 6,892 7,066 ( 54) 7,066 Hedge of loan operations (Cash flow) 275 9 282 268 7 274 Hedge of funding (Fair value) 9,217 205 9,217 9,124 43 9,124 Hedge of funding
(Cash flow) 3,403 (12) 3,416 3,105 82 3,200 Hedge of assets transactions 1,693 123 1,566 8,003 136 7,866 Hedge of Asset-backed securities under repurchase agreements 13,645 8 12,758 38,013 8 36,668 Hedge of assets denominated in UF 8,547 (27) 8,525
13,221 23 13,247 Hedge of fair value through other comprehensive income 4,925 (6) 4,863 5,401 ( 82) 5,391 Total 3,375 2,378 The table below shows the breakdown by maturity of the hedging strategies: 03/31/2019 Strategies 0-1 year 1-2 years 2-3 years
3-4 years 4-5 years 5-10 years over 10 years Total Hedge of deposits and repurchase agreements 2,024 8,135 321 5,980 - 3,876 - 20,336 Hedge of highly probable forecast transactions 25 - - - - - - 25 (*) 12,646 - - - - - - 12,646 Hedge of net
investment in foreign operations Hedge of loan operations (Fair value) 147 368 2,569 1,570 447 905 886 6,892 Hedge of loan operations (Cash flow) 29 23 194 29 - - - 275 Hedge of funding (Fair value) 1,746 158 158 809 - 4,040 2,306 9,217 Hedge of
funding (Cash flow) 3,167 - - - - 236 - 3,403 Hedge of assets transactions - 1,693 - - - - - 1,693 Hedge of Asset-backed securities under repurchase agreements 8,128 1,688 - 3,829 - - - 13,645 Hedge of assets denominated in UF 7,700 790 57 - - - -
8,547 Hedge of fair value through other comprehensive income 4,355 290 - - - 280 - 4,925 Total 39,967 13,145 3,299 12,217 447 9,337 3,192 81,604 12/31/2018 Strategies 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years over de 10 years Total
Hedge of deposits and repurchase agreements 11,925 4,729 3,519 - 5,737 3,817 - 29,727 Hedge of highly probable forecast transactions 71 - - - - - - 71 (*) 12,550 - - - - - - 12,550 Hedge of net investment in foreign operations Hedge of loan
operations (Fair value) 293 1,416 1,793 1,379 375 822 988 7,066 Hedge of loan operations (Cash flow) - 28 162 78 - - - 268 Hedge of funding (Fair value) 1,590 297 154 391 377 3,972 2,343 9,124 Hedge of funding (Cash flow) 2,874 - - - - 231 - 3,105
Hedge of syndicated loan (Fair value) Hedge of assets transactions 6,346 - 1,657 - - - - 8,003 Hedge of Asset-backed securities under repurchase agreements 26,943 5,838 1,517 - 3,715 - - 38,013 Hedge of assets denominated in UF 12,241 924 56 - - - -
13,221 Hedge of fair value through other comprehensive income 4,223 - - - - 1,178 - 5,401 Total 79,056 13,232 8,858 1,848 10,204 10,020 3,331 126,549 (*) Classified as current, since instruments are frequently renewed. F-46 Itaú Unibanco
Holding S.A. The tables below present, for each strategy, the nominal value and the fair value adjustments of hedge instruments and the book value of the hedged item: 03/31/2019 12/31/2018 Hedge instruments Hedged item Hedge instruments Hedged item
Strategies Nominal Fair value Nominal Fair value Book Value Book Value Value adjustments Value adjustments Hedge of deposits and repurchase agreements 20,336 11 20,336 29,727 ( 21) 29,727 Hedge of highly probable forecast transactions 25 1 25 71 6
71 Hedge of net investment in foreign operations 12,646 3,178 15,010 12,550 2,230 14,820 Hedge of loan operations (Fair value) 6,892 (115) 6,892 7,066 ( 54) 7,066 Hedge of loan operations (Cash flow) 275 9 282 268 7 274 Hedge of funding (Fair value)
9,217 205 9,217 9,124 43 9,124 Hedge of funding (Cash flow) 3,403 (12) 3,416 3,105 82 3,200 Hedge of assets transactions 1,693 123 1,566 8,003 136 7,866 Hedge of Asset-backed securities under repurchase agreements 13,645 8 12,758 38,013 8 36,668
Hedge of assets denominated in UF 8,547 (27) 8,525 13,221 23 13,247 Hedge of fair value through other comprehensive income 4,925 (6) 4,863 5,401 ( 82) 5,391 Total 3,375 2,378 The table below shows the breakdown by maturity of the hedging strategies:
03/31/2019 Strategies 0-1 year 1-2 years 2-3 years 3-4 years 4-5 years 5-10 years over 10 years Total Hedge of deposits and repurchase agreements 2,024 8,135 321 5,980 - 3,876 - 20,336 Hedge of highly probable forecast transactions 25 - - - - - - 25
(*) 12,646 - - - - - - 12,646 Hedge of net investment in foreign operations Hedge of loan operations (Fair value) 147 368 2,569 1,570 447 905 886 6,892 Hedge of loan operations (Cash flow) 29 23 194 29 - - - 275 Hedge of funding (Fair value) 1,746
158 158 809 - 4,040 2,306 9,217 Hedge of funding (Cash flow) 3,167 - - - - 236 - 3,403 Hedge of assets transactions - 1,693 - - - - - 1,693 Hedge of Asset-backed securities under repurchase agreements 8,128 1,688 - 3,829 - - - 13,645 Hedge of assets
denominated in UF 7,700 790 57 - - - - 8,547 Hedge of fair value through other comprehensive income 4,355 290 - - - 280 - 4,925 Total 39,967 13,145 3,299 12,217 447 9,337 3,192 81,604 12/31/2018 Strategies 0-1 year 1-2 years 2-3 years 3-4 years 4-5
years 5-10 years over de 10 years Total Hedge of deposits and repurchase agreements 11,925 4,729 3,519 - 5,737 3,817 - 29,727 Hedge of highly probable forecast transactions 71 - - - - - - 71 (*) 12,550 - - - - - - 12,550 Hedge of net investment in
foreign operations Hedge of loan operations (Fair value) 293 1,416 1,793 1,379 375 822 988 7,066 Hedge of loan operations (Cash flow) - 28 162 78 - - - 268 Hedge of funding (Fair value) 1,590 297 154 391 377 3,972 2,343 9,124 Hedge of funding (Cash
flow) 2,874 - - - - 231 - 3,105 Hedge of syndicated loan (Fair value) Hedge of assets transactions 6,346 - 1,657 - - - - 8,003 Hedge of Asset-backed securities under repurchase agreements 26,943 5,838 1,517 - 3,715 - - 38,013 Hedge of assets
denominated in UF 12,241 924 56 - - - - 13,221 Hedge of fair value through other comprehensive income 4,223 - - - - 1,178 - 5,401 Total 79,056 13,232 8,858 1,848 10,204 10,020 3,331 126,549 (*) Classified as current, since instruments are frequently
renewed. F-46
Itaú Unibanco Holding S.A. Note 8 – Financial Assets at Fair
Value Through Other Comprehensive Income - Securities The fair value and corresponding gross carrying amount of Financial Assets at Fair Value Through Other Comprehensive Income - Securities assets are as follows: 03/31/2019 12/31/2018 Fair value
Fair value Gross Gross adjustments (in Expected adjustments (in Expected carrying Fair value carrying Fair value stockholders' loss stockholders' loss amount amount equity) equity) (1a) Brazilian government securities 30,455 1,212 31,667 27,064 775
- 27,839 Other 36 - ( 36) - 36 - (36) - (1b) Government securities – abroad 17,457 (285) (2) 17,170 18,844 ( 70) (2) 18,772 Germany 22 - - 22 22 - - 22 Colombia 5,087 18 - 5,105 5,491 14 - 5,505 Chile 6,673 6 - 6,679 7,647 7 (1) 7,653 United
States 2,150 (12) - 2,138 2,634 (16) - 2,618 France 877 - - 877 891 - - 891 Italy 111 - - 111 - - - - Paraguay 1,787 (294) (2) 1,491 1,601 ( 71) (1) 1,529 Uruguay 750 (3) - 747 557 (4) - 553 Other - - - - 1 - - 1 (1c) Corporate securities 2,746 75
(47) 2,774 2,719 40 (47) 2,712 Negotiable Shares 56 73 - 129 77 84 - 161 Bank deposit certificates 815 - - 815 1,053 - - 1,053 Debentures 44 - ( 43) 1 44 - (42) 2 Eurobonds and others 1,828 2 (1) 1,829 1,542 (44) (2) 1,496 Other 3 - (3) - 3 - (3) -
Total 50,694 1,002 (85) 51,611 48,663 745 (85) 49,323 (1) Financial assets at fair value through other comprehensive income - Securities pledged in guarantee of funding transactions of financial institutions and clients were: a) R$ 28,051 (R$ 25,147
at 12/31/2018), b) R$ 3,062 (R$ 3,583 at 12/31/2018) and c) R$ 871 (R$ 237 at 12/31/2018), totaling R$ 31,984 (R$ 28,967 at 12/31/2018). The gross carrying amount and the fair value of financial assets through other comprehensive income - securities
by maturity are as follows: 03/31/2019 12/31/2018 Gross Gross carrying Fair value carrying Fair value amount amount Current 13,030 12,970 10,666 10,684 Non-stated maturity 56 129 77 161 Up to one year 12,974 12,841 10,589 10,523 Non-current 37,664
38,641 37,997 38,639 From one to five years 23,828 24,031 21,417 21,650 From five to ten years 9,304 9,667 11,906 12,029 After ten years 4,532 4,943 4,674 4,960 Total 50,694 51,611 48,663 49,323 Equity instruments at fair value through other
comprehensive income - securities are presented in the table below: 03/31/2019 Gross carrying Adjustments to fair value Expected loss Fair Value amount (in Stockholders' equity) Negotiable shares 56 73 - 129 Total 56 73 - 129 12/31/2018 Gross
carrying Adjustments to fair value Expected loss Fair Value amount (in Stockholders' equity) Negotiable shares 77 84 - 161 Total 77 84 - 161 In the period there was no receipt of dividends and there was no reclassification in Stockholders´
Equity. ITAÚ UNIBANCO HOLDING adopted the option of designating equity instruments at fair value through other comprehensive income due to the particularities of a certain market. 03/31/2019 12/31/2018 Gross carrying Gross carrying Fair Value
Fair Value amount amount Current 56 129 77 161 Non-stated maturity 56 129 77 161 F-47 Itaú Unibanco Holding S.A. Note 8 – Financial Assets at Fair Value Through Other Comprehensive Income - Securities The fair value and corresponding
gross carrying amount of Financial Assets at Fair Value Through Other Comprehensive Income - Securities assets are as follows: 03/31/2019 12/31/2018 Fair value Fair value Gross Gross adjustments (in Expected adjustments (in Expected carrying Fair
value carrying Fair value stockholders' loss stockholders' loss amount amount equity) equity) (1a) Brazilian government securities 30,455 1,212 31,667 27,064 775 - 27,839 Other 36 - ( 36) - 36 - (36) - (1b) Government securities – abroad
17,457 (285) (2) 17,170 18,844 ( 70) (2) 18,772 Germany 22 - - 22 22 - - 22 Colombia 5,087 18 - 5,105 5,491 14 - 5,505 Chile 6,673 6 - 6,679 7,647 7 (1) 7,653 United States 2,150 (12) - 2,138 2,634 (16) - 2,618 France 877 - - 877 891 - - 891 Italy
111 - - 111 - - - - Paraguay 1,787 (294) (2) 1,491 1,601 ( 71) (1) 1,529 Uruguay 750 (3) - 747 557 (4) - 553 Other - - - - 1 - - 1 (1c) Corporate securities 2,746 75 (47) 2,774 2,719 40 (47) 2,712 Negotiable Shares 56 73 - 129 77 84 - 161 Bank
deposit certificates 815 - - 815 1,053 - - 1,053 Debentures 44 - ( 43) 1 44 - (42) 2 Eurobonds and others 1,828 2 (1) 1,829 1,542 (44) (2) 1,496 Other 3 - (3) - 3 - (3) - Total 50,694 1,002 (85) 51,611 48,663 745 (85) 49,323 (1) Financial assets at
fair value through other comprehensive income - Securities pledged in guarantee of funding transactions of financial institutions and clients were: a) R$ 28,051 (R$ 25,147 at 12/31/2018), b) R$ 3,062 (R$ 3,583 at 12/31/2018) and c) R$ 871 (R$ 237 at
12/31/2018), totaling R$ 31,984 (R$ 28,967 at 12/31/2018). The gross carrying amount and the fair value of financial assets through other comprehensive income - securities by maturity are as follows: 03/31/2019 12/31/2018 Gross Gross carrying Fair
value carrying Fair value amount amount Current 13,030 12,970 10,666 10,684 Non-stated maturity 56 129 77 161 Up to one year 12,974 12,841 10,589 10,523 Non-current 37,664 38,641 37,997 38,639 From one to five years 23,828 24,031 21,417 21,650 From
five to ten years 9,304 9,667 11,906 12,029 After ten years 4,532 4,943 4,674 4,960 Total 50,694 51,611 48,663 49,323 Equity instruments at fair value through other comprehensive income - securities are presented in the table below: 03/31/2019 Gross
carrying Adjustments to fair value Expected loss Fair Value amount (in Stockholders' equity) Negotiable shares 56 73 - 129 Total 56 73 - 129 12/31/2018 Gross carrying Adjustments to fair value Expected loss Fair Value amount (in Stockholders'
equity) Negotiable shares 77 84 - 161 Total 77 84 - 161 In the period there was no receipt of dividends and there was no reclassification in Stockholders´ Equity. ITAÚ UNIBANCO HOLDING adopted the option of designating equity instruments
at fair value through other comprehensive income due to the particularities of a certain market. 03/31/2019 12/31/2018 Gross carrying Gross carrying Fair Value Fair Value amount amount Current 56 129 77 161 Non-stated maturity 56 129 77 161 F-47
Itaú Unibanco Holding S.A. Reconciliation of expected loss for
Financial assets at fair value through other comprehensive instrument - securities, segregated by stages: Expected Expected Gains / Stage 1 loss Purchases Settlements loss (Losses) 31/12/2018 03/31/2019 Financial assets at fair value through other
comprehensive (85) (4) (1) 5 (85) income Government securities - abroad - (1) (1) - (2) Brazilian government securities (36) - - - (36) Other (36) - - - (36) Corporate securities (49) (3) - 5 (47) Debentures (43) (4) - 4 (43) Eurobonds and others
(3) 1 - 1 (1) Other (3) - - - (3) Expected Expected Gains / Transfer to Transfer to Stage 1 loss Purchases Settlements loss (Losses) stage 2 stage 3 31/12/2017 12/31/2018 Financial assets at fair value through other comprehensive income (84) ( 1)
(2) 2 - - (85) Brazilian government securities (36) - - - - - (36) Other (36) - - - - - (36) Corporate securities ( 48) (1) (2) 2 - - (49) Debentures (43) - - - - - (43) Eurobond and others (2) ( 1) (2) 2 - (3) Other (3) - - - - - (3) Note 9 -
Financial assets at amortized cost - Securities The Financial assets at amortized cost - Securities is as follows: 03/31/2019 12/31/2018 Amortized Expected Amortized Expected Fair Value Fair Value cost loss cost loss (1a) Brazilian government
securities 54,597 (56) 54,541 54,064 (58) 54,006 Government securities – abroad 10,098 ( 4) 10,094 6,700 (3) 6,697 Argentina 143 - 143 - - - Colombia 311 (4) 307 356 (3) 353 Chile 281 - 281 256 - 256 Korea 3,038 - 3,038 1,385 - 1,385 Spain
3,100 - 3,100 2,411 - 2,411 United States 19 - 19 19 - 19 Mexico 3,191 - 3,191 2,258 - 2,258 Uruguay 15 - 15 15 - 15 Corporate securities (1b) 49,229 (3,600) 45,629 49,631 (3,585) 46,046 Rural product note 4,228 (91) 4,137 4,181 (178) 4,003 Bank
deposit certificates 121 - 121 123 - 123 Securitized real estate loans 9,149 ( 367) 8,782 9,876 (361) 9,515 Debentures 29,566 ( 3,121) 26,445 29,001 (3,013) 25,988 Eurobonds and others 3,442 ( 2) 3,440 4,005 (2) 4,003 Promissory notes 1,281 (2)
1,279 1,069 (14) 1,055 Other 1,442 (17) 1,425 1,376 (17) 1,359 113,924 (3,660) 110,264 110,395 (3,646) 106,749 Total (1) Financial Assets at Amortized Cost – Securities Pledged as Collateral of Funding Transactions of Financial Institutions
and Clients were: a) R$ 25,144 (R$ 24,988 at 12/31/2018) and b) R$ 7,861 (R$ 8,860 at 12/31/2018), totaling R$ 33,005 (R$ 33,848 at 12/31/2018). F-48 Itaú Unibanco Holding S.A. Reconciliation of expected loss for Financial assets at fair value
through other comprehensive instrument - securities, segregated by stages: Expected Expected Gains / Stage 1 loss Purchases Settlements loss (Losses) 31/12/2018 03/31/2019 Financial assets at fair value through other comprehensive (85) (4) (1) 5
(85) income Government securities - abroad - (1) (1) - (2) Brazilian government securities (36) - - - (36) Other (36) - - - (36) Corporate securities (49) (3) - 5 (47) Debentures (43) (4) - 4 (43) Eurobonds and others (3) 1 - 1 (1) Other (3) - - -
(3) Expected Expected Gains / Transfer to Transfer to Stage 1 loss Purchases Settlements loss (Losses) stage 2 stage 3 31/12/2017 12/31/2018 Financial assets at fair value through other comprehensive income (84) ( 1) (2) 2 - - (85) Brazilian
government securities (36) - - - - - (36) Other (36) - - - - - (36) Corporate securities ( 48) (1) (2) 2 - - (49) Debentures (43) - - - - - (43) Eurobond and others (2) ( 1) (2) 2 - (3) Other (3) - - - - - (3) Note 9 - Financial assets at amortized
cost - Securities The Financial assets at amortized cost - Securities is as follows: 03/31/2019 12/31/2018 Amortized Expected Amortized Expected Fair Value Fair Value cost loss cost loss (1a) Brazilian government securities 54,597 (56) 54,541 54,064
(58) 54,006 Government securities – abroad 10,098 ( 4) 10,094 6,700 (3) 6,697 Argentina 143 - 143 - - - Colombia 311 (4) 307 356 (3) 353 Chile 281 - 281 256 - 256 Korea 3,038 - 3,038 1,385 - 1,385 Spain 3,100 - 3,100 2,411 - 2,411 United
States 19 - 19 19 - 19 Mexico 3,191 - 3,191 2,258 - 2,258 Uruguay 15 - 15 15 - 15 Corporate securities (1b) 49,229 (3,600) 45,629 49,631 (3,585) 46,046 Rural product note 4,228 (91) 4,137 4,181 (178) 4,003 Bank deposit certificates 121 - 121 123 -
123 Securitized real estate loans 9,149 ( 367) 8,782 9,876 (361) 9,515 Debentures 29,566 ( 3,121) 26,445 29,001 (3,013) 25,988 Eurobonds and others 3,442 ( 2) 3,440 4,005 (2) 4,003 Promissory notes 1,281 (2) 1,279 1,069 (14) 1,055 Other 1,442 (17)
1,425 1,376 (17) 1,359 113,924 (3,660) 110,264 110,395 (3,646) 106,749 Total (1) Financial Assets at Amortized Cost – Securities Pledged as Collateral of Funding Transactions of Financial Institutions and Clients were: a) R$ 25,144 (R$ 24,988
at 12/31/2018) and b) R$ 7,861 (R$ 8,860 at 12/31/2018), totaling R$ 33,005 (R$ 33,848 at 12/31/2018). F-48
Itaú Unibanco Holding S.A. The amortized cost of Financial assets at
amortized cost - Securities by maturity is as follows: 03/31/2019 12/31/2018 Amortized cost Fair Value Amortized cost Fair Value Current 14,932 14,480 14,661 14,119 Up to one year 14,932 14,480 14,661 14,119 Non-current 98,992 95,784 95,734 92,630
From one to five years 54,527 53,597 51,820 50,970 From five to ten years 32,180 30,503 31,318 29,802 After ten years 12,285 11,684 12,596 11,858 Total 113,924 110,264 110,395 106,749 Reconciliation of expected loss to financial assets at amortized
cost - securities, segregated by stages: Expected Expected Gains / Transfer to Transfer to Cure from Stage Cure from Stage 1 loss Purchases Settlements loss (Losses) Stage 2 Stage 3 2 Stage 3 12/31/2018 03/31/2019 (223) - (8) 5 1 - - - (225)
Financial assets at amortized cost Government securities - other countries - (4) - (1) 1 - - - - (4) Colombia Corporate securities ( 219) - (7) 4 1 - - - (221) Rural product note (7) - - - - - - - (7) Securitized real estate loans (2) - 1 - - - - -
(1) Debentures (206) - (7) 3 1 - - - (209) Eurobond and others (2) - (1) 1 - - - - (2) Promissory notes ( 2) - - - - - - - (2) Expected Expected Gains / Transfer to Transfer to Cure from Stage Cure from Stage 2 loss Purchases Settlements loss
(Losses) Stage 1 Stage 3 1 Stage 3 12/31/2018 03/31/2019 Financial assets at amortized cost (824) 6 - - - - (29) - (847) Brazilian government securities (59) 3 - - - - - - (56) Corporate securities (765) 3 - - - - (29) - (791) Rural product note - 2
- - - - (11) - (9) Debentures ( 765) 1 - - - - (18) - (782) Expected Expected Gains / Transfer to Transfer to Cure from Stage Cure from Stage 3 loss Purchases Settlements loss (Losses) Stage 1 Stage 2 1 Stage 2 12/31/2018 03/31/2019 Financial assets
at amortized cost (2,599) (19) (59) 108 - (19) - - (2,588) Corporate securities ( 2,599) (19) (59) 108 - (19) - - (2,588) Rural product note (173) 1 - 97 - - - - (75) Securitized real estate loans (361) 14 - - - (19) - - (366) Debentures ( 2,037)
(34) (59) - - - - - (2,130) Promissory notes (11) - - 11 - - - - - Other ( 17) - - - - - - - (17) Expected Expected Gains / Transfer to Transfer to Cure from Cure from Stage 1 loss Purchases Settlements loss (Losses) Stage 2 Stage 3 Stage 2 Stage 3
12/31/2017 12/31/2018 Financial assets at amortized cost (76) ( 129) (28) 14 - - (4) - (223) - (3) 1 (2) - - - - ( 4) Government securities - other countries - Colombia Corporate securities ( 73) (130) (26) 14 - - (4) - ( 219) Rural product note (
9) 5 (7) 4 - - - - (7) Securitized real estate loans ( 9) 5 - 2 - - - - ( 2) Debentures (52) (140) (18) 8 - - (4) - ( 206) Eurobond and others ( 2) - - - - - - - (2) Other (1) - (1) - - - - - (2) Expected Expected Gains / Transfer to Transfer to
Cure from Cure from Stage 2 loss Purchases Settlements loss (Losses) Stage 1 Stage 3 Stage 1 Stage 3 12/31/2017 12/31/2018 (368) ( 12) (561) 6 51 74 (14) - (824) Financial assets at amortized cost Brazilian government securities ( 65) 6 - - - - - -
( 59) Corporate securities ( 303) (18) (561) 6 51 74 (14) - (765) Rural product note - 11 (22) - - 11 - - - Securitized real estate loans (5) - - - - 6 (1) - - Debentures ( 284) (22) (539) 1 51 36 (8) - ( 765) Eurobond and others (14) (7) - - - 21 -
Expected Expected Gains / Transfer to Transfer to Cure from Cure from Stage 3 loss Purchases Settlements loss (Losses) Stage 1 Stage 2 Stage 1 Stage 2 12/31/2017 12/31/2018 (4,738) 784 (594) 2,065 - - - (116) (2,599) Financial assets at amortized
cost Corporate securities (4,738) 784 (594) 2,065 - - - (116) ( 2,599) Rural product note ( 148) (106) (36) 127 - - - (10) (173) Securitized real estate loans (2,046) 463 - 1,244 - - - (22) ( 361) Debentures (2,522) 432 (558) 678 - - - (67) ( 2,037)
Promissory notes ( 22) (5) - 16 - - - - (11) Others - - - - - - (17) (17) F-49 Itaú Unibanco Holding S.A. The amortized cost of Financial assets at amortized cost - Securities by maturity is as follows: 03/31/2019 12/31/2018 Amortized cost Fair
Value Amortized cost Fair Value Current 14,932 14,480 14,661 14,119 Up to one year 14,932 14,480 14,661 14,119 Non-current 98,992 95,784 95,734 92,630 From one to five years 54,527 53,597 51,820 50,970 From five to ten years 32,180 30,503 31,318
29,802 After ten years 12,285 11,684 12,596 11,858 Total 113,924 110,264 110,395 106,749 Reconciliation of expected loss to financial assets at amortized cost - securities, segregated by stages: Expected Expected Gains / Transfer to Transfer to Cure
from Stage Cure from Stage 1 loss Purchases Settlements loss (Losses) Stage 2 Stage 3 2 Stage 3 12/31/2018 03/31/2019 (223) - (8) 5 1 - - - (225) Financial assets at amortized cost Government securities - other countries - (4) - (1) 1 - - - - (4)
Colombia Corporate securities ( 219) - (7) 4 1 - - - (221) Rural product note (7) - - - - - - - (7) Securitized real estate loans (2) - 1 - - - - - (1) Debentures (206) - (7) 3 1 - - - (209) Eurobond and others (2) - (1) 1 - - - - (2) Promissory
notes ( 2) - - - - - - - (2) Expected Expected Gains / Transfer to Transfer to Cure from Stage Cure from Stage 2 loss Purchases Settlements loss (Losses) Stage 1 Stage 3 1 Stage 3 12/31/2018 03/31/2019 Financial assets at amortized cost (824) 6 - -
- - (29) - (847) Brazilian government securities (59) 3 - - - - - - (56) Corporate securities (765) 3 - - - - (29) - (791) Rural product note - 2 - - - - (11) - (9) Debentures ( 765) 1 - - - - (18) - (782) Expected Expected Gains / Transfer to
Transfer to Cure from Stage Cure from Stage 3 loss Purchases Settlements loss (Losses) Stage 1 Stage 2 1 Stage 2 12/31/2018 03/31/2019 Financial assets at amortized cost (2,599) (19) (59) 108 - (19) - - (2,588) Corporate securities ( 2,599) (19)
(59) 108 - (19) - - (2,588) Rural product note (173) 1 - 97 - - - - (75) Securitized real estate loans (361) 14 - - - (19) - - (366) Debentures ( 2,037) (34) (59) - - - - - (2,130) Promissory notes (11) - - 11 - - - - - Other ( 17) - - - - - - -
(17) Expected Expected Gains / Transfer to Transfer to Cure from Cure from Stage 1 loss Purchases Settlements loss (Losses) Stage 2 Stage 3 Stage 2 Stage 3 12/31/2017 12/31/2018 Financial assets at amortized cost (76) ( 129) (28) 14 - - (4) - (223)
- (3) 1 (2) - - - - ( 4) Government securities - other countries - Colombia Corporate securities ( 73) (130) (26) 14 - - (4) - ( 219) Rural product note ( 9) 5 (7) 4 - - - - (7) Securitized real estate loans ( 9) 5 - 2 - - - - ( 2) Debentures (52)
(140) (18) 8 - - (4) - ( 206) Eurobond and others ( 2) - - - - - - - (2) Other (1) - (1) - - - - - (2) Expected Expected Gains / Transfer to Transfer to Cure from Cure from Stage 2 loss Purchases Settlements loss (Losses) Stage 1 Stage 3 Stage 1
Stage 3 12/31/2017 12/31/2018 (368) ( 12) (561) 6 51 74 (14) - (824) Financial assets at amortized cost Brazilian government securities ( 65) 6 - - - - - - ( 59) Corporate securities ( 303) (18) (561) 6 51 74 (14) - (765) Rural product note - 11
(22) - - 11 - - - Securitized real estate loans (5) - - - - 6 (1) - - Debentures ( 284) (22) (539) 1 51 36 (8) - ( 765) Eurobond and others (14) (7) - - - 21 - Expected Expected Gains / Transfer to Transfer to Cure from Cure from Stage 3 loss
Purchases Settlements loss (Losses) Stage 1 Stage 2 Stage 1 Stage 2 12/31/2017 12/31/2018 (4,738) 784 (594) 2,065 - - - (116) (2,599) Financial assets at amortized cost Corporate securities (4,738) 784 (594) 2,065 - - - (116) ( 2,599) Rural product
note ( 148) (106) (36) 127 - - - (10) (173) Securitized real estate loans (2,046) 463 - 1,244 - - - (22) ( 361) Debentures (2,522) 432 (558) 678 - - - (67) ( 2,037) Promissory notes ( 22) (5) - 16 - - - - (11) Others - - - - - - (17) (17) F-49
Itaú Unibanco Holding S.A. Note 10 - Loan operations and lease
operations portfolio a) Composition of loan operations and lease operations Below is the composition of the carrying amount of loan operations and lease operations by type, sector of debtor, maturity and concentration: Loan operations and lease
operations by type 03/31/2019 12/31/2018 Individuals 216,816 212,564 Credit card 77,235 78,255 Personal loan 31,438 29,543 Payroll loans 48,835 46,878 Vehicles 16,570 15,920 Mortgage loans 42,738 41,968 Corporate 102,825 102,643 Small and medium
businesses 71,974 68,812 Foreign loans - Latin America 155,557 152,072 Total Loan Operations and Lease Operations 547,172 536,091 (*) Provision for Expected Loss (33,494) (33,509) Total loan operations and lease operations, net of allowance for
Expected Credit Loss 513,678 502,582 (*) Comprises Provision for Expected Loss for Financial Guarantees Pledged R$ (1,208) (R$ (1,191) at 12/31/2018) and Commitments to be Released R$ (2,670) (R$ (2,601) at 12/31/2018). By maturity 03/31/2019
12/31/2018 Overdue as from 1 day 22,155 19,563 Falling due up to 3 months 152,610 144,812 Falling due more than 3 months but less than 1 year 129,972 127,805 Falling due after 1 year 242,435 243,911 Total loan operations and lease operations 547,172
536,091 By concentration 03/31/2019 12/31/2018 Largest debtor 5,094 5,193 10 largest debtors 31,348 31,564 20 largest debtors 47,270 47,433 50 largest debtors 74,851 73,358 100 largest debtors 99,857 98,675 The breakdown of the Loan and lease
operations portfolio by debtor’s industry is evidenced in Note 32, item 1.4.1 - By business sector. F-50 Itaú Unibanco Holding S.A. Note 10 - Loan operations and lease operations portfolio a) Composition of loan operations and lease
operations Below is the composition of the carrying amount of loan operations and lease operations by type, sector of debtor, maturity and concentration: Loan operations and lease operations by type 03/31/2019 12/31/2018 Individuals 216,816 212,564
Credit card 77,235 78,255 Personal loan 31,438 29,543 Payroll loans 48,835 46,878 Vehicles 16,570 15,920 Mortgage loans 42,738 41,968 Corporate 102,825 102,643 Small and medium businesses 71,974 68,812 Foreign loans - Latin America 155,557 152,072
Total Loan Operations and Lease Operations 547,172 536,091 (*) Provision for Expected Loss (33,494) (33,509) Total loan operations and lease operations, net of allowance for Expected Credit Loss 513,678 502,582 (*) Comprises Provision for Expected
Loss for Financial Guarantees Pledged R$ (1,208) (R$ (1,191) at 12/31/2018) and Commitments to be Released R$ (2,670) (R$ (2,601) at 12/31/2018). By maturity 03/31/2019 12/31/2018 Overdue as from 1 day 22,155 19,563 Falling due up to 3 months
152,610 144,812 Falling due more than 3 months but less than 1 year 129,972 127,805 Falling due after 1 year 242,435 243,911 Total loan operations and lease operations 547,172 536,091 By concentration 03/31/2019 12/31/2018 Largest debtor 5,094 5,193
10 largest debtors 31,348 31,564 20 largest debtors 47,270 47,433 50 largest debtors 74,851 73,358 100 largest debtors 99,857 98,675 The breakdown of the Loan and lease operations portfolio by debtor’s industry is evidenced in Note 32, item
1.4.1 - By business sector. F-50
Itaú Unibanco Holding S.A. b) Gross Carrying Amount (Loan Portfolio)
Reconciliation of gross portfolio of Loan Operations and Lease Operations, segregated by stages: Transfer to balance at Transfer to Cure from the Cure from the Acquisition / Closing balance at Stage 1 Derecognition (*) 12/31/2018 Stage 2 Stage 3
Stage 2 Stage 3 (Settlement) 03/31/2019 Individuals 177,488 (4,988) (404) 1,912 - - 6,058 180,066 Credit card 65,227 (2,245) (60) 1,182 - - (888) 63,216 Personal loans 14,125 (1,516) (220) 208 - - 2,742 15,339 Payroll loans 44,156 (452) (96) 196 - -
2,386 46,190 Vehicles 14,353 (423) (28) 80 - - 943 14,925 Mortgage loans 39,627 (352) - 246 - - 875 40,396 Corporate 90,716 (124) (14) 694 7 - 405 91,684 Small and medium businesses 57,099 (1,216) (185) 770 8 - 3,723 60,199 Foreign loans - Latin
America 134,323 (1,306) (280) 2,035 42 - 4,365 139,179 Total 459,626 (7,634) (883) 5,411 57 - 14,551 471,128 balance at Transfer to Transfer to Cure from the Cure from the Acquisition / Closing balance at Stage 2 Derecognition 12/31/2018 Stage 1
Stage 3 Stage 1 Stage 3 (Settlement) 03/31/2019 Individuals 17,029 (1,912) (1,672) 4,988 253 - (203) 18,483 Credit card 8,489 (1,182) (323) 2,245 14 - 166 9,409 Personal loans 4,427 (208) (827) 1,516 155 - (110) 4,953 Payroll loans 1,024 (196) (294)
452 33 - (63) 956 Vehicles 1,022 (80) (146) 423 17 - (128) 1,108 Mortgage loans 2,067 (246) (82) 352 34 - (68) 2,057 Corporate 2,222 (694) (108) 124 - - (87) 1,457 Small and medium businesses 5,875 (770) (410) 1,216 122 - 127 6,160 Foreign loans -
Latin America 11,768 (2,035) (612) 1,306 191 - (221) 10,397 Total 36,894 (5,411) (2,802) 7,634 566 - (384) 36,497 balance at Transfer to Transfer to Cure from the Cure from the Acquisition / Closing balance at Stage 3 Derecognition 12/31/2018 Stage
1 Stage 2 Stage 1 Stage 2 (Settlement) 03/31/2019 Individuals 18,047 - (253) 404 1,672 (2,290) 687 18,267 Credit card 4,539 - (14) 60 323 (898) 600 4,610 Personal loans 10,991 - (155) 220 827 (994) 257 11,146 Payroll loans 1,698 - (33) 96 294 (350)
(16) 1,689 Vehicles 545 - (17) 28 146 (44) (121) 537 Mortgage loans 274 - (34) - 82 (4) (33) 285 Corporate 9,705 (7) - 14 108 (99) (37) 9,684 Small and medium businesses 5,838 (8) (122) 185 410 (577) (111) 5,615 Foreign loans - Latin America 5,981
(42) (191) 280 612 (391) (268) 5,981 Total 39,571 (57) (566) 883 2,802 (3,357) 271 39,547 balance at Acquisition / Closing balance at Consolidated 3 Stages Derecognition 12/31/2018 (Settlement) 03/31/2019 Individuals 212,564 (2,290) 6,542 216,816
Credit card 78,255 (898) (122) 77,235 Personal loans 29,543 (994) 2,889 31,438 Payroll loans 46,878 (350) 2,307 48,835 Vehicles 15,920 (44) 694 16,570 Mortgage loans 41,968 (4) 774 42,738 Corporate 102,643 (99) 281 102,825 Small and medium
businesses 68,812 (577) 3,739 71,974 Foreign loans - Latin America 152,072 (391) 3,876 155,557 Total 536,091 (3,357) 14,438 547,172 (*) In the movement of transfer of operations from phase 1 to phase 3 over the period, a representative part thereof
have first gone through phase 2. F-51 Itaú Unibanco Holding S.A. b) Gross Carrying Amount (Loan Portfolio) Reconciliation of gross portfolio of Loan Operations and Lease Operations, segregated by stages: Transfer to balance at Transfer to Cure
from the Cure from the Acquisition / Closing balance at Stage 1 Derecognition (*) 12/31/2018 Stage 2 Stage 3 Stage 2 Stage 3 (Settlement) 03/31/2019 Individuals 177,488 (4,988) (404) 1,912 - - 6,058 180,066 Credit card 65,227 (2,245) (60) 1,182 - -
(888) 63,216 Personal loans 14,125 (1,516) (220) 208 - - 2,742 15,339 Payroll loans 44,156 (452) (96) 196 - - 2,386 46,190 Vehicles 14,353 (423) (28) 80 - - 943 14,925 Mortgage loans 39,627 (352) - 246 - - 875 40,396 Corporate 90,716 (124) (14) 694
7 - 405 91,684 Small and medium businesses 57,099 (1,216) (185) 770 8 - 3,723 60,199 Foreign loans - Latin America 134,323 (1,306) (280) 2,035 42 - 4,365 139,179 Total 459,626 (7,634) (883) 5,411 57 - 14,551 471,128 balance at Transfer to Transfer
to Cure from the Cure from the Acquisition / Closing balance at Stage 2 Derecognition 12/31/2018 Stage 1 Stage 3 Stage 1 Stage 3 (Settlement) 03/31/2019 Individuals 17,029 (1,912) (1,672) 4,988 253 - (203) 18,483 Credit card 8,489 (1,182) (323)
2,245 14 - 166 9,409 Personal loans 4,427 (208) (827) 1,516 155 - (110) 4,953 Payroll loans 1,024 (196) (294) 452 33 - (63) 956 Vehicles 1,022 (80) (146) 423 17 - (128) 1,108 Mortgage loans 2,067 (246) (82) 352 34 - (68) 2,057 Corporate 2,222 (694)
(108) 124 - - (87) 1,457 Small and medium businesses 5,875 (770) (410) 1,216 122 - 127 6,160 Foreign loans - Latin America 11,768 (2,035) (612) 1,306 191 - (221) 10,397 Total 36,894 (5,411) (2,802) 7,634 566 - (384) 36,497 balance at Transfer to
Transfer to Cure from the Cure from the Acquisition / Closing balance at Stage 3 Derecognition 12/31/2018 Stage 1 Stage 2 Stage 1 Stage 2 (Settlement) 03/31/2019 Individuals 18,047 - (253) 404 1,672 (2,290) 687 18,267 Credit card 4,539 - (14) 60 323
(898) 600 4,610 Personal loans 10,991 - (155) 220 827 (994) 257 11,146 Payroll loans 1,698 - (33) 96 294 (350) (16) 1,689 Vehicles 545 - (17) 28 146 (44) (121) 537 Mortgage loans 274 - (34) - 82 (4) (33) 285 Corporate 9,705 (7) - 14 108 (99) (37)
9,684 Small and medium businesses 5,838 (8) (122) 185 410 (577) (111) 5,615 Foreign loans - Latin America 5,981 (42) (191) 280 612 (391) (268) 5,981 Total 39,571 (57) (566) 883 2,802 (3,357) 271 39,547 balance at Acquisition / Closing balance at
Consolidated 3 Stages Derecognition 12/31/2018 (Settlement) 03/31/2019 Individuals 212,564 (2,290) 6,542 216,816 Credit card 78,255 (898) (122) 77,235 Personal loans 29,543 (994) 2,889 31,438 Payroll loans 46,878 (350) 2,307 48,835 Vehicles 15,920
(44) 694 16,570 Mortgage loans 41,968 (4) 774 42,738 Corporate 102,643 (99) 281 102,825 Small and medium businesses 68,812 (577) 3,739 71,974 Foreign loans - Latin America 152,072 (391) 3,876 155,557 Total 536,091 (3,357) 14,438 547,172 (*) In the
movement of transfer of operations from phase 1 to phase 3 over the period, a representative part thereof have first gone through phase 2. F-51
Itaú Unibanco Holding S.A. Reconciliation of gross portfolio of Loan
Operations and Lease Operations, segregated by stages: Beginning Transfer to Transfer to Cure from the Cure from the Acquisition / Closing balance at Stage 1 balance at Derecognition (*) Stage 2 Stage 2 Stage 3 (Settlement) 12/31/2018 Stage 3
12/31/2017 Individuals 161,364 (15,847) (1,921) 5,820 - - 28,072 177,488 Credit card 57,073 (6,361) (471) 3,335 - - 11,651 65,227 Personal loans 12,290 (4,854) (908) 665 - - 6,932 14,125 Payroll loans 42,115 (1,882) (431) 542 - - 3,812 44,156
Vehicles 12,550 (1,442) (104) 322 - - 3,027 14,353 Mortgage loans 37,336 (1,308) (7) 956 - - 2,650 39,627 Corporate 91,442 (726) (137) 1,629 113 - (1,605) 90,716 Small and medium businesses 47,132 (4,891) (742) 2,849 22 - 12,729 57,099 Foreign loans
- Latin America 117,448 (10,913) (1,261) 9,691 132 - 19,226 134,323 Total 417,386 (32,377) (4,061) 19,989 267 - 58,422 459,626 Beginning Transfer to Transfer to Cure from the Cure from the Acquisition / Closing balance at Stage 2 balance at
Derecognition Stage 1 Stage 3 Stage 1 Stage 3 (Settlement) 12/31/2018 12/31/2017 Individuals 13,032 (5,820) (7,796) 15,847 1,018 - 748 17,029 Credit card 6,027 (3,335) (2,794) 6,361 60 - 2,170 8,489 Personal loans 3,108 (665) (2,970) 4,854 611 -
(511) 4,427 Payroll loans 733 (542) (1,136) 1,882 131 - (44) 1,024 Vehicles 987 (322) (598) 1,442 65 - (552) 1,022 Mortgage loans 2,177 (956) (298) 1,308 151 - (315) 2,067 Corporate 3,833 (1,629) (1,032) 726 1,347 - (1,023) 2,222 Small and medium
businesses 6,001 (2,849) (1,610) 4,891 505 - (1,063) 5,875 Foreign loans - Latin America 13,028 (9,691) (3,025) 10,913 1,002 - (459) 11,768 Total 35,894 (19,989) (13,463) 32,377 3,872 - (1,797) 36,894 Beginning Transfer to Transfer to Cure from the
Cure from the Acquisition / Closing balance at Stage 3 balance at Derecognition Stage 1 Stage 2 Stage 1 Stage 2 (Settlement) 12/31/2018 12/31/2017 Individuals 18,989 - (1,018) 1,921 7,796 (8,520) (1,121) 18,047 Credit card 4,313 - (60) 471 2,794
(3,155) 176 4,539 Personal loans 11,897 - (611) 908 2,970 (3,724) (449) 10,991 Payroll loans 1,868 - (131) 431 1,136 (1,336) (270) 1,698 Vehicles 628 - (65) 104 598 (283) (437) 545 Mortgage loans 283 - (151) 7 298 (22) (141) 274 Corporate 12,372
(113) (1,347) 137 1,032 (1,172) (1,204) 9,705 Small and medium businesses 7,157 (22) (505) 742 1,610 (2,471) (673) 5,838 Foreign loans - Latin America 5,921 (132) (1,002) 1,261 3,025 (1,384) (1,708) 5,981 Total 44,439 (267) (3,872) 4,061 13,463
(13,547) (4,706) 39,571 Beginning Acquisition / Closing balance at Consolidated 3 Stages balance at Derecognition (Settlement) 12/31/2018 12/31/2017 Individuals 193,385 (8,520) 27,699 212,564 Credit card 67,413 (3,155) 13,997 78,255 Personal loans
27,295 (3,724) 5,972 29,543 Payroll loans 44,716 (1,336) 3,498 46,878 Vehicles 14,165 (283) 2,038 15,920 Mortgage loans 39,796 (22) 2,194 41,968 Corporate 107,647 (1,172) (3,832) 102,643 Small and medium businesses 60,290 (2,471) 10,993 68,812
Foreign loans - Latin America 136,397 (1,384) 17,059 152,072 Total 497,719 (13,547) 51,919 536,091 (*) In the movement of transfer of operations from phase 1 to phase 3 over the period, a representative part thereof have first gone through phase 2.
F-52 Itaú Unibanco Holding S.A. Reconciliation of gross portfolio of Loan Operations and Lease Operations, segregated by stages: Beginning Transfer to Transfer to Cure from the Cure from the Acquisition / Closing balance at Stage 1 balance at
Derecognition (*) Stage 2 Stage 2 Stage 3 (Settlement) 12/31/2018 Stage 3 12/31/2017 Individuals 161,364 (15,847) (1,921) 5,820 - - 28,072 177,488 Credit card 57,073 (6,361) (471) 3,335 - - 11,651 65,227 Personal loans 12,290 (4,854) (908) 665 - -
6,932 14,125 Payroll loans 42,115 (1,882) (431) 542 - - 3,812 44,156 Vehicles 12,550 (1,442) (104) 322 - - 3,027 14,353 Mortgage loans 37,336 (1,308) (7) 956 - - 2,650 39,627 Corporate 91,442 (726) (137) 1,629 113 - (1,605) 90,716 Small and medium
businesses 47,132 (4,891) (742) 2,849 22 - 12,729 57,099 Foreign loans - Latin America 117,448 (10,913) (1,261) 9,691 132 - 19,226 134,323 Total 417,386 (32,377) (4,061) 19,989 267 - 58,422 459,626 Beginning Transfer to Transfer to Cure from the
Cure from the Acquisition / Closing balance at Stage 2 balance at Derecognition Stage 1 Stage 3 Stage 1 Stage 3 (Settlement) 12/31/2018 12/31/2017 Individuals 13,032 (5,820) (7,796) 15,847 1,018 - 748 17,029 Credit card 6,027 (3,335) (2,794) 6,361
60 - 2,170 8,489 Personal loans 3,108 (665) (2,970) 4,854 611 - (511) 4,427 Payroll loans 733 (542) (1,136) 1,882 131 - (44) 1,024 Vehicles 987 (322) (598) 1,442 65 - (552) 1,022 Mortgage loans 2,177 (956) (298) 1,308 151 - (315) 2,067 Corporate
3,833 (1,629) (1,032) 726 1,347 - (1,023) 2,222 Small and medium businesses 6,001 (2,849) (1,610) 4,891 505 - (1,063) 5,875 Foreign loans - Latin America 13,028 (9,691) (3,025) 10,913 1,002 - (459) 11,768 Total 35,894 (19,989) (13,463) 32,377 3,872
- (1,797) 36,894 Beginning Transfer to Transfer to Cure from the Cure from the Acquisition / Closing balance at Stage 3 balance at Derecognition Stage 1 Stage 2 Stage 1 Stage 2 (Settlement) 12/31/2018 12/31/2017 Individuals 18,989 - (1,018) 1,921
7,796 (8,520) (1,121) 18,047 Credit card 4,313 - (60) 471 2,794 (3,155) 176 4,539 Personal loans 11,897 - (611) 908 2,970 (3,724) (449) 10,991 Payroll loans 1,868 - (131) 431 1,136 (1,336) (270) 1,698 Vehicles 628 - (65) 104 598 (283) (437) 545
Mortgage loans 283 - (151) 7 298 (22) (141) 274 Corporate 12,372 (113) (1,347) 137 1,032 (1,172) (1,204) 9,705 Small and medium businesses 7,157 (22) (505) 742 1,610 (2,471) (673) 5,838 Foreign loans - Latin America 5,921 (132) (1,002) 1,261 3,025
(1,384) (1,708) 5,981 Total 44,439 (267) (3,872) 4,061 13,463 (13,547) (4,706) 39,571 Beginning Acquisition / Closing balance at Consolidated 3 Stages balance at Derecognition (Settlement) 12/31/2018 12/31/2017 Individuals 193,385 (8,520) 27,699
212,564 Credit card 67,413 (3,155) 13,997 78,255 Personal loans 27,295 (3,724) 5,972 29,543 Payroll loans 44,716 (1,336) 3,498 46,878 Vehicles 14,165 (283) 2,038 15,920 Mortgage loans 39,796 (22) 2,194 41,968 Corporate 107,647 (1,172) (3,832)
102,643 Small and medium businesses 60,290 (2,471) 10,993 68,812 Foreign loans - Latin America 136,397 (1,384) 17,059 152,072 Total 497,719 (13,547) 51,919 536,091 (*) In the movement of transfer of operations from phase 1 to phase 3 over the
period, a representative part thereof have first gone through phase 2. F-52
Itaú Unibanco Holding S.A. c) Expected credit loss Reconciliation of
expected loan losses for Loan operations and lease operations, segregated by stages: Closing balance at Transfer to Transfer to Cure from the Cure from the Net increase / Stage 1 Derecognition balance at (1) 12/31/2018 Stage 2 Stage 2 Stage 3
(Reversal) Stage 3 03/31/2019 Individuals (3,892) 205 65 (59) - - (361) (4,042) Credit card (2,001) 97 7 (38) - - (108) (2,043) Personal loans (963) 77 39 (12) - - (149) (1,008) Payroll loans (777) 15 17 (7) - - (74) (826) Vehicles (141) 15 2 (2) -
- (29) (155) Mortgage loans (10) 1 - - - - (1) (10) Corporate (531) 2 - (29) - - 93 (465) Small and medium businesses (1,112) 55 14 (35) (1) - (53) (1,132) Foreign loans - Latin America (1,396) 30 5 (56) (18) - 20 (1,415) Total (6,931) 292 84 (179)
(19) - (301) (7,054) Closing balance at Transfer to Transfer to Cure from the Cure from the Net increase / Stage 2 Derecognition balance at 12/31/2018 Stage 1 Stage 3 Stage 1 Stage 3 (Reversal) 03/31/2019 Individuals (2,116) 59 697 (205) (37) -
(862) (2,464) Credit card (1,086) 38 179 (97) (7) - (323) (1,296) Personal loans (675) 12 325 (77) (21) - (355) (791) Payroll loans (243) 7 162 (15) (3) - (159) (251) Vehicles (94) 2 27 (15) (4) - (23) (107) Mortgage loans (18) - 4 (1) (2) - (2)
(19) - Corporate (595) 29 19 (2) - - (31) (580) - Small and medium businesses (557) 35 109 (55) (36) - (61) (565) - Foreign loans - Latin America (1,183) 56 92 (30) (75) - (91) (1,231) Total (4,451) 179 917 (292) (148) - (1,045) (4,840) Closing
balance at Transfer to Transfer to Cure from the Cure from the Net increase / Stage 3 Derecognition balance at 12/31/2018 Stage 1 Stage 2 Stage 1 Stage 2 (Reversal) 03/31/2019 Individuals (8,417) - 37 (65) (697) 2,290 (1,682) (8,534) Credit card
(2,990) - 7 (7) (179) 898 (772) (3,043) Personal loans (3,809) - 21 (39) (325) 994 (711) (3,869) Payroll loans (1,259) - 3 (17) (162) 350 (173) (1,258) Vehicles (288) - 4 (2) (27) 44 (18) (287) Mortgage loans (71) - 2 - (4) 4 (8) (77) Corporate
(8,241) - - - (19) 99 368 (7,793) Small and medium businesses (2,863) 1 36 (14) (109) 577 (385) (2,757) Foreign loans - Latin America (2,606) 18 75 (5) (92) 391 (297) (2,516) Total (22,127) 19 148 (84) (917) 3,357 (1,996) (21,600) Closing balance at
Net increase / Consolidated 3 Stages Derecognition balance at (2) 12/31/2018 (Reversal) (3) 03/31/2019 Individuals (14,425) 2,290 (2,905) (15,040) Credit card (6,077) 898 (1,203) (6,382) Personal loans (5,447) 994 (1,215) (5,668) Payroll loans
(2,279) 350 (406) (2,335) Vehicles (523) 44 (70) (549) Mortgage loans (99) 4 (11) (106) Corporate (9,367) 99 430 (8,838) Small and medium businesses (4,532) 577 (499) (4,454) Foreign loans - Latin America (5,185) 391 (368) (5,162) Total (33,509)
3,357 (3,342) (33,494) (1) In the movement of transfer of operations from phase 1 to phase 3 over the period, a representative part thereof have first gone through phase 2; (2) In the first quarter, there was no change in macroeconomic scenarios
used gave rise. (3) Comprises Expected Loan Losses for Financial Guarantees Pledged R$ (1,208) (R$ (1,191) at 12/31/2018) and Commitments to be Released R$ (2.670) (R$ (2,601) at 12/31/2018). F-53 Itaú Unibanco Holding S.A. c) Expected credit
loss Reconciliation of expected loan losses for Loan operations and lease operations, segregated by stages: Closing balance at Transfer to Transfer to Cure from the Cure from the Net increase / Stage 1 Derecognition balance at (1) 12/31/2018 Stage 2
Stage 2 Stage 3 (Reversal) Stage 3 03/31/2019 Individuals (3,892) 205 65 (59) - - (361) (4,042) Credit card (2,001) 97 7 (38) - - (108) (2,043) Personal loans (963) 77 39 (12) - - (149) (1,008) Payroll loans (777) 15 17 (7) - - (74) (826) Vehicles
(141) 15 2 (2) - - (29) (155) Mortgage loans (10) 1 - - - - (1) (10) Corporate (531) 2 - (29) - - 93 (465) Small and medium businesses (1,112) 55 14 (35) (1) - (53) (1,132) Foreign loans - Latin America (1,396) 30 5 (56) (18) - 20 (1,415) Total
(6,931) 292 84 (179) (19) - (301) (7,054) Closing balance at Transfer to Transfer to Cure from the Cure from the Net increase / Stage 2 Derecognition balance at 12/31/2018 Stage 1 Stage 3 Stage 1 Stage 3 (Reversal) 03/31/2019 Individuals (2,116) 59
697 (205) (37) - (862) (2,464) Credit card (1,086) 38 179 (97) (7) - (323) (1,296) Personal loans (675) 12 325 (77) (21) - (355) (791) Payroll loans (243) 7 162 (15) (3) - (159) (251) Vehicles (94) 2 27 (15) (4) - (23) (107) Mortgage loans (18) - 4
(1) (2) - (2) (19) - Corporate (595) 29 19 (2) - - (31) (580) - Small and medium businesses (557) 35 109 (55) (36) - (61) (565) - Foreign loans - Latin America (1,183) 56 92 (30) (75) - (91) (1,231) Total (4,451) 179 917 (292) (148) - (1,045)
(4,840) Closing balance at Transfer to Transfer to Cure from the Cure from the Net increase / Stage 3 Derecognition balance at 12/31/2018 Stage 1 Stage 2 Stage 1 Stage 2 (Reversal) 03/31/2019 Individuals (8,417) - 37 (65) (697) 2,290 (1,682) (8,534)
Credit card (2,990) - 7 (7) (179) 898 (772) (3,043) Personal loans (3,809) - 21 (39) (325) 994 (711) (3,869) Payroll loans (1,259) - 3 (17) (162) 350 (173) (1,258) Vehicles (288) - 4 (2) (27) 44 (18) (287) Mortgage loans (71) - 2 - (4) 4 (8) (77)
Corporate (8,241) - - - (19) 99 368 (7,793) Small and medium businesses (2,863) 1 36 (14) (109) 577 (385) (2,757) Foreign loans - Latin America (2,606) 18 75 (5) (92) 391 (297) (2,516) Total (22,127) 19 148 (84) (917) 3,357 (1,996) (21,600) Closing
balance at Net increase / Consolidated 3 Stages Derecognition balance at (2) 12/31/2018 (Reversal) (3) 03/31/2019 Individuals (14,425) 2,290 (2,905) (15,040) Credit card (6,077) 898 (1,203) (6,382) Personal loans (5,447) 994 (1,215) (5,668) Payroll
loans (2,279) 350 (406) (2,335) Vehicles (523) 44 (70) (549) Mortgage loans (99) 4 (11) (106) Corporate (9,367) 99 430 (8,838) Small and medium businesses (4,532) 577 (499) (4,454) Foreign loans - Latin America (5,185) 391 (368) (5,162) Total
(33,509) 3,357 (3,342) (33,494) (1) In the movement of transfer of operations from phase 1 to phase 3 over the period, a representative part thereof have first gone through phase 2; (2) In the first quarter, there was no change in macroeconomic
scenarios used gave rise. (3) Comprises Expected Loan Losses for Financial Guarantees Pledged R$ (1,208) (R$ (1,191) at 12/31/2018) and Commitments to be Released R$ (2.670) (R$ (2,601) at 12/31/2018). F-53
Itaú Unibanco Holding S.A. Reconciliation of expected loan losses for
Loan operations and lease operations, segregated by stages: Closing Transfer to balance at Transfer to Cure from the Cure from the Net increase / Stage 1 Derecognition balance at (1) 12/31/2018 Stage 2 Stage 3 Stage 2 Stage 3 (Reversal) 12/31/2018
Individuals (3 ,834) 708 313 (388) - - (691) (3,892) Credit card (2 ,135) 303 70 (246) - - 7 (2,001) Personal loans (7 59) 250 153 (39) - - (568) (963) Payroll loans (8 05) 98 82 (79) - - (73) (777) Vehicles (123) 55 8 (16) - - (65) (141) Mortgage
loans (12) 2 - (8) - - 8 (10) Corporate (4 51) 7 1 (259) (85) - 256 (531) Small and medium businesses (1 ,149) 213 75 (177) (4) - (70) (1,112) Foreign loans - Latin America (1,013) 142 20 (659) (45) - 159 (1,396) Total (6 ,447) 1,070 409 (1,483)
(134) - (346) (6,931) Closing balance at Transfer to Transfer to Cure from the Cure from the Net increase / Stage 2 Derecognition balance at 12/31/2018 Stage 1 Stage 3 Stage 1 Stage 3 (Reversal) 12/31/2018 Individuals (2 ,209) 388 3,258 (708) (145)
- (2,700) (2,116) Credit card (1,261) 246 1,309 (303) (29) - (1,048) (1,086) Personal loans (5 67) 39 1,194 (250) (78) - (1,013) (675) Payroll loans (2 62) 79 628 (98) (13) - (577) (243) Vehicles (108) 16 113 (55) (16) - (44) (94) Mortgage loans
(11) 8 14 (2) (9) - (18) (18) Corporate (1 ,174) 259 193 (7) (147) - 281 (595) Small and medium businesses (7 01) 177 430 (213) (195) - (55) (557) Foreign loans - Latin America (1 ,223) 659 406 (142) (405) - (478) (1,183) Total (5 ,307) 1,483 4,287
(1,070) (892) - (2,952) (4,451) Closing balance at Transfer to Transfer to Cure from the Cure from the Net increase / Stage 3 Derecognition balance at 12/31/2018 Stage 1 Stage 2 Stage 1 Stage 2 (Reversal) 12/31/2018 Individuals (8,787) - 145 (313)
(3,258) 8,520 (4,724) (8,417) Credit card (3,288) - 29 (70) (1,309) 3,155 (1,507) (2,990) Personal loans (3,812) - 78 (153) (1,194) 3,724 (2,452) (3,809) Payroll loans (1,301) - 13 (82) (628) 1,336 (597) (1,259) Vehicles (316) - 16 (8) (113) 283
(150) (288) Mortgage loans (7 0) - 9 - (14) 22 (18) (71) Corporate (9,827) 85 147 (1) (193) 1,172 376 (8,241) Small and medium businesses (3,554) 4 195 (75) (430) 2,471 (1,474) (2,863) Foreign loans - Latin America (2,547) 45 405 (20) (406) 1,384
(1,467) (2,606) Total (24,715) 134 892 (409) (4,287) 13,547 (7,289) (22,127) Closing balance at Net increase / Consolidated 3 Stages balance at Derecognition 12/31/2018 (Reversal) (2) 12/31/2018 Individuals (14,830) 8,520 (8,115) (14,425) Credit
card (6,684) 3,155 (2,548) (6,077) Personal loans (5,138) 3,724 (4,033) (5,447) Payroll loans (2,368) 1,336 (1,247) (2,279) Vehicles (547) 283 (259) (523) Mortgage loans (93) 22 (28) (99) Corporate (11,452) 1,172 913 (9,367) Small and medium
businesses (5,404) 2,471 (1,599) (4,532) Foreign loans - Latin America (4,783) 1,384 (1,786) (5,185) Total (36,469) 13,547 (10,587) (33,509) (1) In the movement of transfer of operations from phase 1 to phase 3 over the period, a representative part
thereof have first gone through phase 2; (2) Comprises Expected Loan Losses for Financial Guarantees Pledged R$ (1,191) (R$ (1,907) at 12/31/2017) and Commitments to be Released R$ (2,601) (R$ (3,015) at 12/31/2017). F-54 Itaú Unibanco Holding
S.A. Reconciliation of expected loan losses for Loan operations and lease operations, segregated by stages: Closing Transfer to balance at Transfer to Cure from the Cure from the Net increase / Stage 1 Derecognition balance at (1) 12/31/2018 Stage 2
Stage 3 Stage 2 Stage 3 (Reversal) 12/31/2018 Individuals (3 ,834) 708 313 (388) - - (691) (3,892) Credit card (2 ,135) 303 70 (246) - - 7 (2,001) Personal loans (7 59) 250 153 (39) - - (568) (963) Payroll loans (8 05) 98 82 (79) - - (73) (777)
Vehicles (123) 55 8 (16) - - (65) (141) Mortgage loans (12) 2 - (8) - - 8 (10) Corporate (4 51) 7 1 (259) (85) - 256 (531) Small and medium businesses (1 ,149) 213 75 (177) (4) - (70) (1,112) Foreign loans - Latin America (1,013) 142 20 (659) (45) -
159 (1,396) Total (6 ,447) 1,070 409 (1,483) (134) - (346) (6,931) Closing balance at Transfer to Transfer to Cure from the Cure from the Net increase / Stage 2 Derecognition balance at 12/31/2018 Stage 1 Stage 3 Stage 1 Stage 3 (Reversal)
12/31/2018 Individuals (2 ,209) 388 3,258 (708) (145) - (2,700) (2,116) Credit card (1,261) 246 1,309 (303) (29) - (1,048) (1,086) Personal loans (5 67) 39 1,194 (250) (78) - (1,013) (675) Payroll loans (2 62) 79 628 (98) (13) - (577) (243) Vehicles
(108) 16 113 (55) (16) - (44) (94) Mortgage loans (11) 8 14 (2) (9) - (18) (18) Corporate (1 ,174) 259 193 (7) (147) - 281 (595) Small and medium businesses (7 01) 177 430 (213) (195) - (55) (557) Foreign loans - Latin America (1 ,223) 659 406 (142)
(405) - (478) (1,183) Total (5 ,307) 1,483 4,287 (1,070) (892) - (2,952) (4,451) Closing balance at Transfer to Transfer to Cure from the Cure from the Net increase / Stage 3 Derecognition balance at 12/31/2018 Stage 1 Stage 2 Stage 1 Stage 2
(Reversal) 12/31/2018 Individuals (8,787) - 145 (313) (3,258) 8,520 (4,724) (8,417) Credit card (3,288) - 29 (70) (1,309) 3,155 (1,507) (2,990) Personal loans (3,812) - 78 (153) (1,194) 3,724 (2,452) (3,809) Payroll loans (1,301) - 13 (82) (628)
1,336 (597) (1,259) Vehicles (316) - 16 (8) (113) 283 (150) (288) Mortgage loans (7 0) - 9 - (14) 22 (18) (71) Corporate (9,827) 85 147 (1) (193) 1,172 376 (8,241) Small and medium businesses (3,554) 4 195 (75) (430) 2,471 (1,474) (2,863) Foreign
loans - Latin America (2,547) 45 405 (20) (406) 1,384 (1,467) (2,606) Total (24,715) 134 892 (409) (4,287) 13,547 (7,289) (22,127) Closing balance at Net increase / Consolidated 3 Stages balance at Derecognition 12/31/2018 (Reversal) (2) 12/31/2018
Individuals (14,830) 8,520 (8,115) (14,425) Credit card (6,684) 3,155 (2,548) (6,077) Personal loans (5,138) 3,724 (4,033) (5,447) Payroll loans (2,368) 1,336 (1,247) (2,279) Vehicles (547) 283 (259) (523) Mortgage loans (93) 22 (28) (99) Corporate
(11,452) 1,172 913 (9,367) Small and medium businesses (5,404) 2,471 (1,599) (4,532) Foreign loans - Latin America (4,783) 1,384 (1,786) (5,185) Total (36,469) 13,547 (10,587) (33,509) (1) In the movement of transfer of operations from phase 1 to
phase 3 over the period, a representative part thereof have first gone through phase 2; (2) Comprises Expected Loan Losses for Financial Guarantees Pledged R$ (1,191) (R$ (1,907) at 12/31/2017) and Commitments to be Released R$ (2,601) (R$ (3,015)
at 12/31/2017). F-54
Itaú Unibanco Holding S.A. 0 d) Lease operations - Lessor Financial
leases are composed of vehicles, machines, equipment and real estate in Brazil and abroad. The analysis of portfolio maturities is presented below: 03/31/2019 Payments Future financial Present receivable income value Current 1,447 (257) 1,190 1,447
Up to 1 year (257) 1,190 Non-current 8,832 (2,307) 6,525 From 1 to 2 years 1,159 (396) 763 From 2 to 3 years 859 (254) 605 708 From 3 to 4 years (203) 505 From 4 to 5 years 834 (189) 645 Over 5 years 5,272 (1,265) 4,007 Total 10,279 (2,564) 7,715
Financial lease revenues are composed of: 01/01 a 03/31/2019 Financial Income 141 Variable payments 9 Total 150 e) Operations of securitization or transfers and acquisition of financial assets ITAÚ UNIBANCO HOLDING carried out operations of
securitization or transfer of financial assets in which there was retention of credit risks of financial assets transferred through co-obligation covenants. Thus, such credits continued recorded in the Consolidated Balance Sheet and are represented
as follows: 03/31/2019 12/31/2018 (*) (*) Assets Assets Liabilities Liabilities Nature of operation Book Book Book Book Fair value Fair value Fair value Fair value value value value value Mortgage loan 1,824 1,817 1,818 1,808 1,941 1,925 1,939 1,920
Working capital 1,948 1,948 1,915 1,915 2,140 2,140 2,128 2,128 Other - - 4 4 - - 4 4 Total 3,772 3,765 3,737 3,727 4,081 4,065 4,071 4,052 (*) Under Interbank Market Debt. From January 1 to March 31, 2019, there were no transactions for transfer of
financial assets without retention of risks and benefits. The effect from January 1 to March 31, 2018 was R$ 4, net of Provision for Expected Loss. F-55 Itaú Unibanco Holding S.A. 0 d) Lease operations - Lessor Financial leases are composed of
vehicles, machines, equipment and real estate in Brazil and abroad. The analysis of portfolio maturities is presented below: 03/31/2019 Payments Future financial Present receivable income value Current 1,447 (257) 1,190 1,447 Up to 1 year (257)
1,190 Non-current 8,832 (2,307) 6,525 From 1 to 2 years 1,159 (396) 763 From 2 to 3 years 859 (254) 605 708 From 3 to 4 years (203) 505 From 4 to 5 years 834 (189) 645 Over 5 years 5,272 (1,265) 4,007 Total 10,279 (2,564) 7,715 Financial lease
revenues are composed of: 01/01 a 03/31/2019 Financial Income 141 Variable payments 9 Total 150 e) Operations of securitization or transfers and acquisition of financial assets ITAÚ UNIBANCO HOLDING carried out operations of securitization or
transfer of financial assets in which there was retention of credit risks of financial assets transferred through co-obligation covenants. Thus, such credits continued recorded in the Consolidated Balance Sheet and are represented as follows:
03/31/2019 12/31/2018 (*) (*) Assets Assets Liabilities Liabilities Nature of operation Book Book Book Book Fair value Fair value Fair value Fair value value value value value Mortgage loan 1,824 1,817 1,818 1,808 1,941 1,925 1,939 1,920 Working
capital 1,948 1,948 1,915 1,915 2,140 2,140 2,128 2,128 Other - - 4 4 - - 4 4 Total 3,772 3,765 3,737 3,727 4,081 4,065 4,071 4,052 (*) Under Interbank Market Debt. From January 1 to March 31, 2019, there were no transactions for transfer of
financial assets without retention of risks and benefits. The effect from January 1 to March 31, 2018 was R$ 4, net of Provision for Expected Loss. F-55
Itaú Unibanco Holding S.A. Note 11 - Investments in associates and
joint ventures a) The following table presents investments of ITAÚ UNIBANCO HOLDING, individually immaterial: 03/31/2019 Equity in Other comprehensive Total comprehensive Investment earnings income results (a) Associates 11,857 276 (1) 275 (b)
Joint ventures 211 (47) - (47) Total 12,068 229 (1) 228 12/31/2018 03/31/2018 Equity in Other comprehensive Total comprehensive Investment earnings income results (a) Associates 11,802 157 1 158 (b) Joint ventures 217 (30) - (30) Total 12,019 127 1
128 (a) At 03/31/2019, includes interest in total capital and voting capital of the following companies: XP Investimentos S.A. (49.90% total capital and 30.06% voting capital; 49.90% total capital and 30.06% voting capital at 12/31/2018); Porto
Seguro Itaú Unibanco Participações S.A. (42.93% total and voting capital; 42.93% at 12/31/2018); BSF Holding S.A. (49% total and voting capital; 49% at 12/31/2018); IRB-Brasil Resseguros S.A. (11,20% total capital and 11.20% voting
capital; 11,20% total capital and 11.20% voting capital at 12/31/2018); Gestora de Inteligência de Crédito S.A (20% total and voting capital; 20% at 12/31/2018), Compañia Uruguaya de Medios de Procesamiento S.A. (32.37% total and
voting capital; 32.37% at 12/31/2018); Rias Redbanc S.A. (25% total and voting capital; 25% at 12/31/2018); Kinea Private Equity Investimentos S.A. (80% total capital and 49% voting capital; 80% total capital and 49% voting capital at 12/31/2018)
and Tecnologia Bancária S.A. (28.95% total and voting capital; and 28.95% at 12/31/2018). (b) At 03/31/2019, includes interest in total and voting capital of the following companies: Olimpia Promoção e Serviços S.A. (50% total
and voting capital; 50% at 12/31/2018); ConectCar Soluções de Mobilidade Eletrônica S.A. (50% total and voting capital; 50% at 12/31/2018) and includes result not arising from controlled companies' net income. F-56 Itaú Unibanco
Holding S.A. Note 11 - Investments in associates and joint ventures a) The following table presents investments of ITAÚ UNIBANCO HOLDING, individually immaterial: 03/31/2019 Equity in Other comprehensive Total comprehensive Investment earnings
income results (a) Associates 11,857 276 (1) 275 (b) Joint ventures 211 (47) - (47) Total 12,068 229 (1) 228 12/31/2018 03/31/2018 Equity in Other comprehensive Total comprehensive Investment earnings income results (a) Associates 11,802 157 1 158
(b) Joint ventures 217 (30) - (30) Total 12,019 127 1 128 (a) At 03/31/2019, includes interest in total capital and voting capital of the following companies: XP Investimentos S.A. (49.90% total capital and 30.06% voting capital; 49.90% total
capital and 30.06% voting capital at 12/31/2018); Porto Seguro Itaú Unibanco Participações S.A. (42.93% total and voting capital; 42.93% at 12/31/2018); BSF Holding S.A. (49% total and voting capital; 49% at 12/31/2018); IRB-Brasil
Resseguros S.A. (11,20% total capital and 11.20% voting capital; 11,20% total capital and 11.20% voting capital at 12/31/2018); Gestora de Inteligência de Crédito S.A (20% total and voting capital; 20% at 12/31/2018), Compañia
Uruguaya de Medios de Procesamiento S.A. (32.37% total and voting capital; 32.37% at 12/31/2018); Rias Redbanc S.A. (25% total and voting capital; 25% at 12/31/2018); Kinea Private Equity Investimentos S.A. (80% total capital and 49% voting capital;
80% total capital and 49% voting capital at 12/31/2018) and Tecnologia Bancária S.A. (28.95% total and voting capital; and 28.95% at 12/31/2018). (b) At 03/31/2019, includes interest in total and voting capital of the following companies:
Olimpia Promoção e Serviços S.A. (50% total and voting capital; 50% at 12/31/2018); ConectCar Soluções de Mobilidade Eletrônica S.A. (50% total and voting capital; 50% at 12/31/2018) and includes result not arising from
controlled companies' net income. F-56
Itaú Unibanco Holding S.A. Note 12 – Lease commitments - Lessee
ITAÚ UNIBANCO HOLDING is the lessee mainly of properties for use in its operations, which include renewal options and restatement clauses. During the period ended March 31, 2019, total cash outflow with lease amounted to R$ 304. Lease
agreements in the amount of R$ 18 were renewed. There are no relevant sublease agreements. Total lease liabilities at present value recognized in the Consolidated Balance sheet is presented below: 03/31/2019 Current 302 Up to 1 year 302 Non-current
4,659 From 1 to 5 years 2,157 Over 5 years 2,502 Total future minimum payments 4,961 Lease amounts recognized in the Consolidated Statement of Income: 01/01 a 03/31/2019 Sublease revenue 4 Depreciation expenses (264) Interest expenses (94) Lease
expense for low value assets (18) Variable expenses not include in lease liabilities (20) Total (392) In the period from January 1 to March 31, 2019, there was an impairment adjustment of R$ (113), recorded under the heading General and
Administrative Expenses F-57 Itaú Unibanco Holding S.A. Note 12 – Lease commitments - Lessee ITAÚ UNIBANCO HOLDING is the lessee mainly of properties for use in its operations, which include renewal options and restatement clauses.
During the period ended March 31, 2019, total cash outflow with lease amounted to R$ 304. Lease agreements in the amount of R$ 18 were renewed. There are no relevant sublease agreements. Total lease liabilities at present value recognized in the
Consolidated Balance sheet is presented below: 03/31/2019 Current 302 Up to 1 year 302 Non-current 4,659 From 1 to 5 years 2,157 Over 5 years 2,502 Total future minimum payments 4,961 Lease amounts recognized in the Consolidated Statement of Income:
01/01 a 03/31/2019 Sublease revenue 4 Depreciation expenses (264) Interest expenses (94) Lease expense for low value assets (18) Variable expenses not include in lease liabilities (20) Total (392) In the period from January 1 to March 31, 2019,
there was an impairment adjustment of R$ (113), recorded under the heading General and Administrative Expenses F-57
Itaú Unibanco Holding S.A. Note 13 - Fixed assets Real estate in use
Other fixed assets Fixed assets Other (1) under Total Fixed Assets Furniture and (communication, (2) Land Buildings Improvements Installations EDP systems construction equipment security and transportation) Annual depreciation rates 4% 10% 10 to 20%
10 to 20% 20 to 50% 10 to 20% Cost Balance at 12/31/2018 556 1,084 3,111 2,487 1,988 1,209 9,328 1,253 21,016 Acquisitions 99 4 - 2 4 14 205 17 345 Disposal - ( 2) (6) - - (1) (52) - (61) Exchange variation (1) - 3 8 (3) (4) (3) - - Transfers (52) -
6 39 7 - - - - (3) Other - 8 (90) 3 (271) 7 (21) - (364) Balance at 03/31/2019 602 1,094 3,024 2,539 1,725 1,225 9,457 1,270 20,936 Depreciation Balance at 12/31/2018 - - (1,929) (1,670) (1,290) (834) (7,128) ( 863) (13,714) Accumulated depreciation
- - (19) (41) (37) (23) (233) ( 31) (384) Disposal - - 3 - - - 40 - 43 Exchange variation - - (1) 4 3 3 (2) ( 1) 6 (3) Other - - 72 (4) 262 (3) 69 1 397 Balance at 03/31/2019 - - (1,874) (1,711) (1,062) (857) (7,254) ( 894) (13,652) Impairment
Balance at 12/31/2018 - - - - - - - - - Additions/ assumptions - - - (5) - - - - (5) Reversals - - - - - - - - - Balance at 03/31/2019 - - - (5) - - - - (5) Book value Balance at 03/31/2019 602 1,094 1,150 823 663 368 2,203 376 7,279 (1) The
contractual commitments for purchase of the fixed assets totaled R$ 14 achievable by 2019 (Note 32b - Off balance sheet). (2) Includes lease contracts, mainly related to data processing equipment, which are accounted for as lease operations. The
asset and the liability are recognized in the Financial Statements. (3) Includes the total amount of R$ 17 related to the hyperinflationary adjustment for Argentina. F-58 Itaú Unibanco Holding S.A. Note 13 - Fixed assets Real estate in use
Other fixed assets Fixed assets Other (1) under Total Fixed Assets Furniture and (communication, (2) Land Buildings Improvements Installations EDP systems construction equipment security and transportation) Annual depreciation rates 4% 10% 10 to 20%
10 to 20% 20 to 50% 10 to 20% Cost Balance at 12/31/2018 556 1,084 3,111 2,487 1,988 1,209 9,328 1,253 21,016 Acquisitions 99 4 - 2 4 14 205 17 345 Disposal - ( 2) (6) - - (1) (52) - (61) Exchange variation (1) - 3 8 (3) (4) (3) - - Transfers (52) -
6 39 7 - - - - (3) Other - 8 (90) 3 (271) 7 (21) - (364) Balance at 03/31/2019 602 1,094 3,024 2,539 1,725 1,225 9,457 1,270 20,936 Depreciation Balance at 12/31/2018 - - (1,929) (1,670) (1,290) (834) (7,128) ( 863) (13,714) Accumulated depreciation
- - (19) (41) (37) (23) (233) ( 31) (384) Disposal - - 3 - - - 40 - 43 Exchange variation - - (1) 4 3 3 (2) ( 1) 6 (3) Other - - 72 (4) 262 (3) 69 1 397 Balance at 03/31/2019 - - (1,874) (1,711) (1,062) (857) (7,254) ( 894) (13,652) Impairment
Balance at 12/31/2018 - - - - - - - - - Additions/ assumptions - - - (5) - - - - (5) Reversals - - - - - - - - - Balance at 03/31/2019 - - - (5) - - - - (5) Book value Balance at 03/31/2019 602 1,094 1,150 823 663 368 2,203 376 7,279 (1) The
contractual commitments for purchase of the fixed assets totaled R$ 14 achievable by 2019 (Note 32b - Off balance sheet). (2) Includes lease contracts, mainly related to data processing equipment, which are accounted for as lease operations. The
asset and the liability are recognized in the Financial Statements. (3) Includes the total amount of R$ 17 related to the hyperinflationary adjustment for Argentina. F-58
Itaú Unibanco Holding S.A. (2) (2) Real estate in use Other fixed
assets Fixed assets Other (1) Fixed assets under Furniture and (communication, Total (3) Land Buildings Improvements Installations EDP systems construction equipment security and transportation) Annual depreciation rates 4% 10% 10 to 20% 10 to 20%
20 to 50% 10 to 20% Cost Balance at 12/31/2017 367 1,044 3,107 2,204 1,955 1,152 8,679 1,148 19,656 Acquisitions 474 - - 35 22 59 764 129 1,483 Disposal - (13) (103) (45) (13) (16) (264) (30) (484) Exchange variation 3 6 (2) 42 (8) (5) (12) 4 28
Transfers (289) - 66 122 39 - 62 - - Other 1 47 43 129 (7) 19 99 2 333 Balance at 12/31/2018 556 1,084 3,111 2,487 1,988 1,209 9,328 1,253 21,016 Depreciation Balance at 12/31/2017 - - (1,893) (1,375) (1,151) (715) (6,411) (752) (12,297) Accumulated
depreciation - - (80) (183) (155) (97) (909) (121) (1,545) Disposal - - 24 32 5 11 236 29 337 Exchange variation - - 14 (24) 12 20 (5) (3) 14 (5) Other - - 6 (120) (1) (53) (39) (16) (223) Balance at 12/31/2018 - - (1,929) (1,670) (1,290) (834)
(7,128) (863) (13,714) Book value (4) Balance at 12/31/2018 556 1,084 1,182 817 698 375 2,200 390 7,302 (1) The contractual commitments for purchase of the fixed assets totaled R$ 41 achievable by 2019 (Note 32b - Off balance sheet). (2) Includes
the amount of R$ 3 related to attached real estate. (3) Includes lease contracts, mainly related to data processing equipment, which are accounted for as lease operations. The asset and the liability are recognized in the Financial Statements. (4)
During de period, there was no impairment of assets recorded in Fixed assets. (5) Includes the total amount of R$ 209 related to the hyperinflationary adjustment for Argentina. F-59 Itaú Unibanco Holding S.A. (2) (2) Real estate in use Other
fixed assets Fixed assets Other (1) Fixed assets under Furniture and (communication, Total (3) Land Buildings Improvements Installations EDP systems construction equipment security and transportation) Annual depreciation rates 4% 10% 10 to 20% 10 to
20% 20 to 50% 10 to 20% Cost Balance at 12/31/2017 367 1,044 3,107 2,204 1,955 1,152 8,679 1,148 19,656 Acquisitions 474 - - 35 22 59 764 129 1,483 Disposal - (13) (103) (45) (13) (16) (264) (30) (484) Exchange variation 3 6 (2) 42 (8) (5) (12) 4 28
Transfers (289) - 66 122 39 - 62 - - Other 1 47 43 129 (7) 19 99 2 333 Balance at 12/31/2018 556 1,084 3,111 2,487 1,988 1,209 9,328 1,253 21,016 Depreciation Balance at 12/31/2017 - - (1,893) (1,375) (1,151) (715) (6,411) (752) (12,297) Accumulated
depreciation - - (80) (183) (155) (97) (909) (121) (1,545) Disposal - - 24 32 5 11 236 29 337 Exchange variation - - 14 (24) 12 20 (5) (3) 14 (5) Other - - 6 (120) (1) (53) (39) (16) (223) Balance at 12/31/2018 - - (1,929) (1,670) (1,290) (834)
(7,128) (863) (13,714) Book value (4) Balance at 12/31/2018 556 1,084 1,182 817 698 375 2,200 390 7,302 (1) The contractual commitments for purchase of the fixed assets totaled R$ 41 achievable by 2019 (Note 32b - Off balance sheet). (2) Includes
the amount of R$ 3 related to attached real estate. (3) Includes lease contracts, mainly related to data processing equipment, which are accounted for as lease operations. The asset and the liability are recognized in the Financial Statements. (4)
During de period, there was no impairment of assets recorded in Fixed assets. (5) Includes the total amount of R$ 209 related to the hyperinflationary adjustment for Argentina. F-59
Itaú Unibanco Holding S.A. Note 14 - Goodwill and Intangible assets
(1) Intangible assets Goodwill and Association for the intangible from Total Other intangible promotion and offer Internally developed Software Acquired (2) acquisition of financial products software assets and services Annual amortization rates Up
to 20% 8% 20% 20% 10 to 20% Cost Balance at 12/31/2018 11,464 2,529 5,247 4,529 2,360 26,129 Acquisitions - 1 240 189 175 605 Terminated agreements/ derecognition (26) ( 4) (55) - (25) (110) Exchange variation 173 26 46 - 10 255 (4) Other - 15 - -
(12) 3 Balance at 03/31/2019 11,611 2,567 5,478 4,718 2,508 26,882 Amortization Balance at 12/31/2018 (26) ( 867) (2,501) (1,823) (1,015) (6,232) (3) Amortization expense - ( 55) (162) (169) (74) (460) Terminated agreements/ derecognition 26 4 - -
25 55 Exchange variation - ( 15) (18) - (5) (38) (4) Other - - (45) - - (45) Balance at 03/31/2019 - ( 933) (2,726) (1,992) (1,069) (6,720) Impairment (Note 2.4h) Balance at 12/31/2018 - - (225) (343) - (568) Increase - - - - - - Exchange variation
- - 55 - - 55 Balance at 03/31/2019 - - (170) (343) - (513) Book value Balance at 03/31/2019 11,611 1,634 2,582 2,383 1,439 19,649 (1) The contractual commitments for the purchase of the new intangible assets totaled R$ 546 achievable by 2020; (2)
Includes of amounts paid for acquisition of rights to provide services of payment of salaries, proceeds, retirement and pension benefits and similar benefits; (3) Amortization expenses related to the rights for acquisition of payrolls and
associations, in the amount of R$ (122) (R$ (107) from 01/01 to 03/31/2018) are disclosed in the General and administrative expenses. (4) Includes the total amount of R$ 5 related to the hyperinflationary adjustment for Argentina. F-60 Itaú
Unibanco Holding S.A. Note 14 - Goodwill and Intangible assets (1) Intangible assets Goodwill and Association for the intangible from Total Other intangible promotion and offer Internally developed Software Acquired (2) acquisition of financial
products software assets and services Annual amortization rates Up to 20% 8% 20% 20% 10 to 20% Cost Balance at 12/31/2018 11,464 2,529 5,247 4,529 2,360 26,129 Acquisitions - 1 240 189 175 605 Terminated agreements/ derecognition (26) ( 4) (55) -
(25) (110) Exchange variation 173 26 46 - 10 255 (4) Other - 15 - - (12) 3 Balance at 03/31/2019 11,611 2,567 5,478 4,718 2,508 26,882 Amortization Balance at 12/31/2018 (26) ( 867) (2,501) (1,823) (1,015) (6,232) (3) Amortization expense - ( 55)
(162) (169) (74) (460) Terminated agreements/ derecognition 26 4 - - 25 55 Exchange variation - ( 15) (18) - (5) (38) (4) Other - - (45) - - (45) Balance at 03/31/2019 - ( 933) (2,726) (1,992) (1,069) (6,720) Impairment (Note 2.4h) Balance at
12/31/2018 - - (225) (343) - (568) Increase - - - - - - Exchange variation - - 55 - - 55 Balance at 03/31/2019 - - (170) (343) - (513) Book value Balance at 03/31/2019 11,611 1,634 2,582 2,383 1,439 19,649 (1) The contractual commitments for the
purchase of the new intangible assets totaled R$ 546 achievable by 2020; (2) Includes of amounts paid for acquisition of rights to provide services of payment of salaries, proceeds, retirement and pension benefits and similar benefits; (3)
Amortization expenses related to the rights for acquisition of payrolls and associations, in the amount of R$ (122) (R$ (107) from 01/01 to 03/31/2018) are disclosed in the General and administrative expenses. (4) Includes the total amount of R$ 5
related to the hyperinflationary adjustment for Argentina. F-60
Itaú Unibanco Holding S.A. (1) Intangible assets Goodwill and
Association for the intangible from Total Other intangible promotion and offer Internally developed Software Acquired acquisition (2) of financial products software assets and services Annual amortization rates Up to 20% 8% 20% 20% 10 to 20% Cost
Balance at 12/31/2017 11,162 2,452 4,571 4,353 2,161 24,699 Acquisitions 8 1 646 318 408 1,381 Terminated agreements / derecognition - ( 27) (312) (189) (210) (738) Exchange variation 560 47 205 - (4) 808 Other (266) 56 137 47 5 (21) Balance at
12/31/2018 11,464 2,529 5,247 4,529 2,360 26,129 Amortization Balance at 12/31/2017 (23) ( 647) (1,998) (1,267) (984) (4,919) (3) Amortization expense - ( 223) (596) (697) (261) (1,777) Terminated agreements / derecognition - 27 312 154 210 703
Exchange variation - ( 141) (152) - 16 (277) (4) Other (3) 117 (67) (13) 4 38 Balance at 12/31/2018 (26) ( 867) (2,501) (1,823) (1,015) (6,232) Impairment (Note 2.4h) Balance at 12/31/2017 - - (54) (343) - (397) Incresase - - (167) - - (167)
Exchange variation - - (4) - - (4) Balance at 12/31/2018 - - (225) (343) - (568) Book value Balance at 12/31/2018 11,438 1,662 2,521 2,363 1,345 19,329 (1) The contractual commitments for the purchase of the new intangible assets totaled R$ 637
achievable by 2020; (2) Includes of amounts paid for acquisition of rights to provide services of payment of salaries, proceeds, retirement and pension benefits and similar benefits; (3) Amortization expenses related to the rights for acquisition of
payrolls and associations, in the amount of R$ (452) (R$ (487) from 01/01 to 12/31/2017) are disclosed in the General and administrative expenses. (4) Includes the total amount of R$ 31 related to the hyperinflationary adjustment for Argentina. F-61
Itaú Unibanco Holding S.A. (1) Intangible assets Goodwill and Association for the intangible from Total Other intangible promotion and offer Internally developed Software Acquired acquisition (2) of financial products software assets and
services Annual amortization rates Up to 20% 8% 20% 20% 10 to 20% Cost Balance at 12/31/2017 11,162 2,452 4,571 4,353 2,161 24,699 Acquisitions 8 1 646 318 408 1,381 Terminated agreements / derecognition - ( 27) (312) (189) (210) (738) Exchange
variation 560 47 205 - (4) 808 Other (266) 56 137 47 5 (21) Balance at 12/31/2018 11,464 2,529 5,247 4,529 2,360 26,129 Amortization Balance at 12/31/2017 (23) ( 647) (1,998) (1,267) (984) (4,919) (3) Amortization expense - ( 223) (596) (697) (261)
(1,777) Terminated agreements / derecognition - 27 312 154 210 703 Exchange variation - ( 141) (152) - 16 (277) (4) Other (3) 117 (67) (13) 4 38 Balance at 12/31/2018 (26) ( 867) (2,501) (1,823) (1,015) (6,232) Impairment (Note 2.4h) Balance at
12/31/2017 - - (54) (343) - (397) Incresase - - (167) - - (167) Exchange variation - - (4) - - (4) Balance at 12/31/2018 - - (225) (343) - (568) Book value Balance at 12/31/2018 11,438 1,662 2,521 2,363 1,345 19,329 (1) The contractual commitments
for the purchase of the new intangible assets totaled R$ 637 achievable by 2020; (2) Includes of amounts paid for acquisition of rights to provide services of payment of salaries, proceeds, retirement and pension benefits and similar benefits; (3)
Amortization expenses related to the rights for acquisition of payrolls and associations, in the amount of R$ (452) (R$ (487) from 01/01 to 12/31/2017) are disclosed in the General and administrative expenses. (4) Includes the total amount of R$ 31
related to the hyperinflationary adjustment for Argentina. F-61
Itaú Unibanco Holding S.A. Note 15 - Deposits 03/31/2019 12/31/2018
Current Non-current Total Current Non-current Total Interest-bearing deposits 234,422 152,305 386,727 235,248 155,592 390,840 Time deposits 96,019 152,030 248,049 95,914 155,386 251,300 Interbank 1,790 275 2,065 2,469 206 2,675 Savings accounts
136,613 - 136,613 136,865 - 136,865 Non-interest bearing deposits 74,760 - 74,760 72,584 - 72,584 Demand deposits 74,757 - 74,757 72,581 - 72,581 Others Deposits 3 - 3 3 - 3 Total 309,182 152,305 461,487 307,832 155,592 463,424 Note 16 –
Financial liabilities designated at fair value through profit or loss 03/31/2019 12/31/2018 Current Non-current Total Current Non-current Total Structured notes Shares 24 4 28 31 9 40 Debt securities 17 139 156 6 146 152 Total 41 143 184 37 155 192
The effect of credit risk of these instruments is not significant at 03/31/2019 and 12/31/2018. Shares and debt securities do not have a defined amount on maturity, since they vary according to market quotation and an exchange variation component,
respectively. F-62 Itaú Unibanco Holding S.A. Note 15 - Deposits 03/31/2019 12/31/2018 Current Non-current Total Current Non-current Total Interest-bearing deposits 234,422 152,305 386,727 235,248 155,592 390,840 Time deposits 96,019 152,030
248,049 95,914 155,386 251,300 Interbank 1,790 275 2,065 2,469 206 2,675 Savings accounts 136,613 - 136,613 136,865 - 136,865 Non-interest bearing deposits 74,760 - 74,760 72,584 - 72,584 Demand deposits 74,757 - 74,757 72,581 - 72,581 Others
Deposits 3 - 3 3 - 3 Total 309,182 152,305 461,487 307,832 155,592 463,424 Note 16 – Financial liabilities designated at fair value through profit or loss 03/31/2019 12/31/2018 Current Non-current Total Current Non-current Total Structured
notes Shares 24 4 28 31 9 40 Debt securities 17 139 156 6 146 152 Total 41 143 184 37 155 192 The effect of credit risk of these instruments is not significant at 03/31/2019 and 12/31/2018. Shares and debt securities do not have a defined amount on
maturity, since they vary according to market quotation and an exchange variation component, respectively. F-62
Itaú Unibanco Holding S.A. Note 17 – Securities sold under
repurchase agreements and interbank and institutional market debts a) Securities sold under repurchase agreements The table below shows the breakdown of funds: 03/31/2019 12/31/2018 Interest rate (p.a.) Non- Non- Current Total Current Total current
current Assets pledged as collteral 70,016 5,414 75,430 71,231 6,420 77,651 Government securities 93.5% of CDI to 6.4% 50,728 - 50,728 46,676 4 46,680 Corporate securities 40% of CDI to 92% of CDI 8,355 - 8,355 9,051 - 9,051 Own issue 40% of CDI to
16.9% 10,289 5,047 15,336 15,156 6,261 21,417 Foreign 0.4% to 6.3% 644 367 1,011 348 155 503 Assets received as collateral 5.9% to 6.4% 170,317 - 170,317 172,953 - 172,953 Right to sell or repledge the collateral 96.5% of CDI to 10% 13,134 54,927
68,061 27,337 52,296 79,633 Total 253,467 60,341 313,808 271,521 58,716 330,237 b) Interbank market debt 03/31/2019 12/31/2018 Interest rate (p.a.) Non- Non- Current Total Current Total current current Financial credit bills 99% of CDI to 17.31%
14,400 23,839 38,239 9,139 28,789 37,928 Real state credit bills 4.85% to IGPM + 4.70% 10,679 1,235 11,914 6,465 3,081 9,546 Agribusiness credit bills 70% of CDI to 15.77% 9,230 9,145 18,375 9,586 8,427 18,013 Guaranteed real state notes 96% of CDI
- 1,245 1,245 - 1,227 1,227 Import and export financing LIBOR 6M + 0.40% to 9.60% 46,013 7,920 53,933 42,685 7,365 50,050 On-lending - domestic 0.50% to 18.92% 5,308 10,547 15,855 5,301 12,605 17,906 Total 85,630 53,931 139,561 73,176 61,494 134,670
Funding for import and export financing represents credit facilities available for financing of imports and exports of Brazilian companies, in general denominated in foreign currency. c) Institucional market debt 03/31/2019 12/31/2018 Interest rate
(p.a.) Non- Non- Current Total Current Total current current (1) Subordinated debt LIBOR to IGPM + 4.63% 149 52,432 52,581 343 48,970 49,313 Foreign borrowing through securities EURIBOR 6M to 30.13% 6,250 38,603 44,853 6,232 35,631 41,863 (2)
Structured Operations Certificates 3.56% to 15.82% 1,514 715 2,229 1,949 849 2,798 Total 7,913 91,750 99,663 8,524 85,450 93,974 (1) At 03/31/2019, the amount of R$ 35,372 (R$ 32,205 at 12/31/2018) is included in the Reference Equity, under the
proportion defined by CMN Resolution No. 4,192, of March 01, 2013. (2) At 03/31/2019, the market value of the funding from Structured Operations Certificates issued is R$ 2,311 (R$ 2,902 at 12/31/2018). F-63 Itaú Unibanco Holding S.A. Note 17
– Securities sold under repurchase agreements and interbank and institutional market debts a) Securities sold under repurchase agreements The table below shows the breakdown of funds: 03/31/2019 12/31/2018 Interest rate (p.a.) Non- Non-
Current Total Current Total current current Assets pledged as collteral 70,016 5,414 75,430 71,231 6,420 77,651 Government securities 93.5% of CDI to 6.4% 50,728 - 50,728 46,676 4 46,680 Corporate securities 40% of CDI to 92% of CDI 8,355 - 8,355
9,051 - 9,051 Own issue 40% of CDI to 16.9% 10,289 5,047 15,336 15,156 6,261 21,417 Foreign 0.4% to 6.3% 644 367 1,011 348 155 503 Assets received as collateral 5.9% to 6.4% 170,317 - 170,317 172,953 - 172,953 Right to sell or repledge the
collateral 96.5% of CDI to 10% 13,134 54,927 68,061 27,337 52,296 79,633 Total 253,467 60,341 313,808 271,521 58,716 330,237 b) Interbank market debt 03/31/2019 12/31/2018 Interest rate (p.a.) Non- Non- Current Total Current Total current current
Financial credit bills 99% of CDI to 17.31% 14,400 23,839 38,239 9,139 28,789 37,928 Real state credit bills 4.85% to IGPM + 4.70% 10,679 1,235 11,914 6,465 3,081 9,546 Agribusiness credit bills 70% of CDI to 15.77% 9,230 9,145 18,375 9,586 8,427
18,013 Guaranteed real state notes 96% of CDI - 1,245 1,245 - 1,227 1,227 Import and export financing LIBOR 6M + 0.40% to 9.60% 46,013 7,920 53,933 42,685 7,365 50,050 On-lending - domestic 0.50% to 18.92% 5,308 10,547 15,855 5,301 12,605 17,906
Total 85,630 53,931 139,561 73,176 61,494 134,670 Funding for import and export financing represents credit facilities available for financing of imports and exports of Brazilian companies, in general denominated in foreign currency. c)
Institucional market debt 03/31/2019 12/31/2018 Interest rate (p.a.) Non- Non- Current Total Current Total current current (1) Subordinated debt LIBOR to IGPM + 4.63% 149 52,432 52,581 343 48,970 49,313 Foreign borrowing through securities EURIBOR
6M to 30.13% 6,250 38,603 44,853 6,232 35,631 41,863 (2) Structured Operations Certificates 3.56% to 15.82% 1,514 715 2,229 1,949 849 2,798 Total 7,913 91,750 99,663 8,524 85,450 93,974 (1) At 03/31/2019, the amount of R$ 35,372 (R$ 32,205 at
12/31/2018) is included in the Reference Equity, under the proportion defined by CMN Resolution No. 4,192, of March 01, 2013. (2) At 03/31/2019, the market value of the funding from Structured Operations Certificates issued is R$ 2,311 (R$ 2,902 at
12/31/2018). F-63
Itaú Unibanco Holding S.A. Note 18 - Other assets and liabilities a)
Other assets 03/31/2019 12/31/2018 Non- Non- Current Total Current Total current current Financial 63,379 12,954 76,333 62,390 12,700 75,090 Receivables from credit card issuers 36,955 - 36,955 36,491 - 36,491 Deposits in guarantee for contingent,
provisions and legal obligations (Note 29) 1,504 12,193 13,697 1,455 12,079 13,534 Negotiation and intermediation of securities 15,587 276 15,863 15,400 255 15,655 Income receivable 3,427 11 3,438 3,155 5 3,160 Credit of Operations without credit
granting characteristics, net amount 3,149 4 3,153 3,021 4 3,025 Insurance and reinsurance operations 775 469 1,244 899 356 1,255 Net amount receivables from reimbursement of provisions (Note 29d) 1,015 - 1,015 999 - 999 Deposits in guarantee for
foreign borrowing program 967 1 968 970 1 971 Non-financial 14,423 1,225 15,648 7,969 1,313 9,282 Sundry foreign 1,821 10 1,831 995 9 1,004 Prepaid expenses 3,005 479 3,484 2,642 546 3,188 Sundry domestic 2,434 16 2,450 1,579 27 1,606 Plan assets
post-employment benefits (Note 26e) - 720 720 - 731 731 Lease right-of-use 4,783 - 4,783 - - - Other 2,380 - 2,380 2,753 - 2,753 b) Other liabilities 03/31/2019 12/31/2018 Non- Non- Current Total Current Total current current Financial 99,477 1,761
101,238 95,639 1,790 97,429 Credit card operations 77,480 - 77,480 78,803 - 78,803 Negotiation and intermediation of securities 9,108 170 9,278 9,167 172 9,339 Foreign exchange portfolio 700 - 700 634 - 634 Finance leases (Note 12a) 4,961 - 4,961 -
- - Other 7,228 1,591 8,819 7,035 1,618 8,653 Non-financial 30,210 1,056 31,266 24,931 1,079 26,010 Funds in transit 11,585 17 11,602 10,015 27 10,042 Collection and payment of taxes and contributions 5,448 - 5,448 476 - 476 Social and statutory
2,863 36 2,899 4,085 23 4,108 Deferred income 2,566 - 2,566 2,530 - 2,530 Sundry creditors - domestic 2,423 144 2,567 2,310 188 2,498 Personnel provision 1,716 64 1,780 1,606 63 1,669 Provision for sundry payments 1,390 86 1,476 1,670 81 1,751
Liabilities for official agreements and rendering of payment services 1,128 - 1,128 1,155 - 1,155 Provision for retirement plan benefits (Note 26e) - 709 709 - 697 697 Other 1,091 - 1,091 1,084 - 1,084 (*) Provisão para garantias financeiras
prestadas, registrada no passivo conforrme Resolução CMN nº 4.512/2016 e Carta Circular nº 3.782/2016. F-64 Itaú Unibanco Holding S.A. Note 18 - Other assets and liabilities a) Other assets 03/31/2019 12/31/2018 Non- Non-
Current Total Current Total current current Financial 63,379 12,954 76,333 62,390 12,700 75,090 Receivables from credit card issuers 36,955 - 36,955 36,491 - 36,491 Deposits in guarantee for contingent, provisions and legal obligations (Note 29)
1,504 12,193 13,697 1,455 12,079 13,534 Negotiation and intermediation of securities 15,587 276 15,863 15,400 255 15,655 Income receivable 3,427 11 3,438 3,155 5 3,160 Credit of Operations without credit granting characteristics, net amount 3,149 4
3,153 3,021 4 3,025 Insurance and reinsurance operations 775 469 1,244 899 356 1,255 Net amount receivables from reimbursement of provisions (Note 29d) 1,015 - 1,015 999 - 999 Deposits in guarantee for foreign borrowing program 967 1 968 970 1 971
Non-financial 14,423 1,225 15,648 7,969 1,313 9,282 Sundry foreign 1,821 10 1,831 995 9 1,004 Prepaid expenses 3,005 479 3,484 2,642 546 3,188 Sundry domestic 2,434 16 2,450 1,579 27 1,606 Plan assets post-employment benefits (Note 26e) - 720 720 -
731 731 Lease right-of-use 4,783 - 4,783 - - - Other 2,380 - 2,380 2,753 - 2,753 b) Other liabilities 03/31/2019 12/31/2018 Non- Non- Current Total Current Total current current Financial 99,477 1,761 101,238 95,639 1,790 97,429 Credit card
operations 77,480 - 77,480 78,803 - 78,803 Negotiation and intermediation of securities 9,108 170 9,278 9,167 172 9,339 Foreign exchange portfolio 700 - 700 634 - 634 Finance leases (Note 12a) 4,961 - 4,961 - - - Other 7,228 1,591 8,819 7,035 1,618
8,653 Non-financial 30,210 1,056 31,266 24,931 1,079 26,010 Funds in transit 11,585 17 11,602 10,015 27 10,042 Collection and payment of taxes and contributions 5,448 - 5,448 476 - 476 Social and statutory 2,863 36 2,899 4,085 23 4,108 Deferred
income 2,566 - 2,566 2,530 - 2,530 Sundry creditors - domestic 2,423 144 2,567 2,310 188 2,498 Personnel provision 1,716 64 1,780 1,606 63 1,669 Provision for sundry payments 1,390 86 1,476 1,670 81 1,751 Liabilities for official agreements and
rendering of payment services 1,128 - 1,128 1,155 - 1,155 Provision for retirement plan benefits (Note 26e) - 709 709 - 697 697 Other 1,091 - 1,091 1,084 - 1,084 (*) Provisão para garantias financeiras prestadas, registrada no passivo conforrme
Resolução CMN nº 4.512/2016 e Carta Circular nº 3.782/2016. F-64
Itaú Unibanco Holding S.A. Note 19 – Stockholders’ equity
a) Capital Capital is represented by 9,804,135,348 book-entry shares with no par value, of which 4,958,290,359 are common and 4,845,844,989 are preferred shares with no voting rights, but with tag-along rights, in the event of disposal of control,
to be included in a public offering of shares, so as to ensure the price equal to eighty per cent (80%) of the amount paid per share with voting rights in the controlling stake, as well as a dividend at least equal to that of the common shares. In
Meetings of the Board of Directors held on 02/22/2018, cancellations of 14,424,206, were approved, respective of common shares of own issue and shares held in treasury, with no change in capital, upon capitalization of amounts recorded in Revenue
Reserves – Statutory Reserve. The Extraordinary Stockholders’ Meeting – ESM held on July 27, 2018 approved the split in 50% the Company's shares of capital stock, and the process was approved by BACEN on October 31, 2018. The new
shares were included in the share position on November 26, 2018. Thus, for better comparability, the number of shares presented in this item are affected by the split effect. The breakdown and change in shares of paid-in capital in the beginning and
end of the period are shown below: 03/31/2019 Number Amount Common Preferred Total Residents in Brazil at 12/31/2018 4 ,928,076,320 1 ,609,055,166 6 ,537,131,486 6 4,776 Residents abroad at 12/31/2018 3 0,214,039 3 ,236,789,823 3 ,267,003,862 3
2,372 Shares of capital stock at 12/31/2018 4 ,958,290,359 4 ,845,844,989 9 ,804,135,348 9 7,148 Shares of capital stock at 03/31/2019 4 ,958,290,359 4 ,845,844,989 9 ,804,135,348 9 7,148 Residents in Brazil at 03/31/2019 4 ,928,028,078 1
,674,329,712 6 ,602,357,790 6 5,422 Residents abroad at 03/31/2019 3 0,262,281 3 ,171,515,277 3 ,201,777,558 3 1,726 (1) Treasury shares at 12/31/2018 - 8 3,614,426 8 3,614,426 ( 1,820) Result of delivery of treasury shares - ( 22,309,749) (
22,309,749) 486 (1) Treasury shares at 03/31/2019 - 6 1,304,677 6 1,304,677 ( 1,334) Outstanding shares at 03/31/2019 4 ,958,290,359 4 ,784,540,312 9 ,742,830,671 Outstanding shares at 12/31/2018 4 ,958,290,359 4 ,762,230,563 9 ,720,520,922
12/31/2018 Number Amount Common Preferred Total Residents in Brazil at 12/31/2017 3 ,299,073,506 1 ,116,291,341 4 ,415,364,847 6 5,482 Residents abroad at 12/31/2017 2 0,877,606 2 ,114,271,985 2 ,135,149,591 3 1,666 Shares of capital stock at
12/31/2017 3 ,319,951,112 3 ,230,563,326 6 ,550,514,438 9 7,148 Stock Split – ESM of 07/27/2018 – Approved on 10/31/2018 1 ,652,763,453 1 ,615,281,663 3 ,268,045,116 - (-) Cancellation of Shares – Meeting of the Board of Directors
02/22/2018 ( 14,424,206) - ( 14,424,206) - Shares of capital stock at 12/31/2018 4 ,958,290,359 4 ,845,844,989 9 ,804,135,348 9 7,148 Residents in Brazil at 12/31/2018 4 ,928,076,320 1 ,609,055,166 6 ,537,131,486 6 4,776 Residents abroad at
12/31/2018 3 0,214,039 3 ,236,789,823 3 ,267,003,862 3 2,372 (1) Treasury shares at 12/31/2017 1 4,424,206 7 1,459,714 8 5,883,920 ( 2,743) Purchase of shares - 1 3,100,000 1 3,100,000 (510) (-) Cancellation of Shares – Meeting of the Board of
Directors 02/22/2018 ( 14,424,206) - ( 14,424,206) 534 Result of delivery of treasury shares - ( 29,623,265) ( 29,623,265) 899 Stock Split – ESM of 07/27/2018 – Approved on 10/31/2018 - 2 8,677,977 2 8,677,977 - (1) Treasury shares at
12/31/2018 - 8 3,614,426 8 3,614,426 (1,820) Outstanding shares at 12/31/2018 4 ,958,290,359 4 ,762,230,563 9 ,720,520,922 (2) Outstanding shares at 12/31/2017 4 ,958,290,359 4 ,738,655,417 9 ,696,945,776 (1) Own shares, purchased based on
authorization of the Board of Directors, to be held in Treasury for subsequent cancellation of replacement in the market. (2) For better comparability, outstanding shares in the period of 12/31/2017 were adjusted by the split approved on 10/31/2018.
F-65 Itaú Unibanco Holding S.A. Note 19 – Stockholders’ equity a) Capital Capital is represented by 9,804,135,348 book-entry shares with no par value, of which 4,958,290,359 are common and 4,845,844,989 are preferred shares with no
voting rights, but with tag-along rights, in the event of disposal of control, to be included in a public offering of shares, so as to ensure the price equal to eighty per cent (80%) of the amount paid per share with voting rights in the controlling
stake, as well as a dividend at least equal to that of the common shares. In Meetings of the Board of Directors held on 02/22/2018, cancellations of 14,424,206, were approved, respective of common shares of own issue and shares held in treasury,
with no change in capital, upon capitalization of amounts recorded in Revenue Reserves – Statutory Reserve. The Extraordinary Stockholders’ Meeting – ESM held on July 27, 2018 approved the split in 50% the Company's shares of
capital stock, and the process was approved by BACEN on October 31, 2018. The new shares were included in the share position on November 26, 2018. Thus, for better comparability, the number of shares presented in this item are affected by the split
effect. The breakdown and change in shares of paid-in capital in the beginning and end of the period are shown below: 03/31/2019 Number Amount Common Preferred Total Residents in Brazil at 12/31/2018 4 ,928,076,320 1 ,609,055,166 6 ,537,131,486 6
4,776 Residents abroad at 12/31/2018 3 0,214,039 3 ,236,789,823 3 ,267,003,862 3 2,372 Shares of capital stock at 12/31/2018 4 ,958,290,359 4 ,845,844,989 9 ,804,135,348 9 7,148 Shares of capital stock at 03/31/2019 4 ,958,290,359 4 ,845,844,989 9
,804,135,348 9 7,148 Residents in Brazil at 03/31/2019 4 ,928,028,078 1 ,674,329,712 6 ,602,357,790 6 5,422 Residents abroad at 03/31/2019 3 0,262,281 3 ,171,515,277 3 ,201,777,558 3 1,726 (1) Treasury shares at 12/31/2018 - 8 3,614,426 8 3,614,426
( 1,820) Result of delivery of treasury shares - ( 22,309,749) ( 22,309,749) 486 (1) Treasury shares at 03/31/2019 - 6 1,304,677 6 1,304,677 ( 1,334) Outstanding shares at 03/31/2019 4 ,958,290,359 4 ,784,540,312 9 ,742,830,671 Outstanding shares at
12/31/2018 4 ,958,290,359 4 ,762,230,563 9 ,720,520,922 12/31/2018 Number Amount Common Preferred Total Residents in Brazil at 12/31/2017 3 ,299,073,506 1 ,116,291,341 4 ,415,364,847 6 5,482 Residents abroad at 12/31/2017 2 0,877,606 2 ,114,271,985
2 ,135,149,591 3 1,666 Shares of capital stock at 12/31/2017 3 ,319,951,112 3 ,230,563,326 6 ,550,514,438 9 7,148 Stock Split – ESM of 07/27/2018 – Approved on 10/31/2018 1 ,652,763,453 1 ,615,281,663 3 ,268,045,116 - (-) Cancellation of
Shares – Meeting of the Board of Directors 02/22/2018 ( 14,424,206) - ( 14,424,206) - Shares of capital stock at 12/31/2018 4 ,958,290,359 4 ,845,844,989 9 ,804,135,348 9 7,148 Residents in Brazil at 12/31/2018 4 ,928,076,320 1 ,609,055,166 6
,537,131,486 6 4,776 Residents abroad at 12/31/2018 3 0,214,039 3 ,236,789,823 3 ,267,003,862 3 2,372 (1) Treasury shares at 12/31/2017 1 4,424,206 7 1,459,714 8 5,883,920 ( 2,743) Purchase of shares - 1 3,100,000 1 3,100,000 (510) (-) Cancellation
of Shares – Meeting of the Board of Directors 02/22/2018 ( 14,424,206) - ( 14,424,206) 534 Result of delivery of treasury shares - ( 29,623,265) ( 29,623,265) 899 Stock Split – ESM of 07/27/2018 – Approved on 10/31/2018 - 2
8,677,977 2 8,677,977 - (1) Treasury shares at 12/31/2018 - 8 3,614,426 8 3,614,426 (1,820) Outstanding shares at 12/31/2018 4 ,958,290,359 4 ,762,230,563 9 ,720,520,922 (2) Outstanding shares at 12/31/2017 4 ,958,290,359 4 ,738,655,417 9
,696,945,776 (1) Own shares, purchased based on authorization of the Board of Directors, to be held in Treasury for subsequent cancellation of replacement in the market. (2) For better comparability, outstanding shares in the period of 12/31/2017
were adjusted by the split approved on 10/31/2018. F-65
Itaú Unibanco Holding S.A. In 2019 there was no purchase of treasury
shares in the period. See below cost of shares purchased in the period, as well the average cost of treasury shares and their market price (in Brazilian Reais per share): 01/01 to 03/31/2019 Cost / market value Common Preferred Average cost - 21.76
Market value at 03/31/2019 29.85 34.43 01/01 to 12/31/2018 Cost / market value Common Preferred Minimum - 37.45 Weighted average - 38.95 Maximum - 40.06 Treasury shares Average cost - 21.76 Market value at 12/31/2018 30.05 35.50 F-66 Itaú
Unibanco Holding S.A. In 2019 there was no purchase of treasury shares in the period. See below cost of shares purchased in the period, as well the average cost of treasury shares and their market price (in Brazilian Reais per share): 01/01 to
03/31/2019 Cost / market value Common Preferred Average cost - 21.76 Market value at 03/31/2019 29.85 34.43 01/01 to 12/31/2018 Cost / market value Common Preferred Minimum - 37.45 Weighted average - 38.95 Maximum - 40.06 Treasury shares Average
cost - 21.76 Market value at 12/31/2018 30.05 35.50 F-66
Itaú Unibanco Holding S.A. b) Dividends Shareholders are entitled
mandatory minimum dividends in each fiscal year, corresponding to 25% of adjusted net income, as set forth in the Bylaws. Common and preferred shares participate equally of income distributed, after common shares have received dividends equal to the
annual minimum priority dividend to be paid to preferred shares (R$ 0.022 non-cumulative per share). The calculation of the monthly advance of the mandatory minimum dividend is based on the share position on the last day of the prior month, with
payment being made on the first business day of the subsequent month, amounting to R$ 0.015 per share. l - Calculation of dividends and interest on capital 03/31/2019 03/31/2018 Statutory net income 6,500 5,539 Adjustments: (-) Legal reserve - 5%
(325) (277) Dividend calculation basis 6,175 5,262 1,544 1,316 Mandatory minimum dividend - 25% Dividends and Interest on Capital Paid / Provided for / Identified 2,407 2,247 ll - Stockholders' compensation 03/31/2019 Gross value per Gross WHT Net
share (R$) Paid / prepaid - 2 monthly installment of dividends from February to March 2019 0.0150 292 - 292 Provided for (Recorded in Other Liabilities) 1 ,252 - 1,252 Dividends - 1 monthly installment paid on 04/01/2019 0.0150 146 - 146 Dividends
provision 0.1136 1 ,106 - 1,106 Identified in Revenue Reserve In Stockholders’ Equity 0.0886 863 - 863 Total from 01/01 to 03/31/2019 2 ,407 - 2,407 03/31/2018 Gross value per Gross WHT Net share (R$) Paid / prepaid - 2 monthly installment of
dividends from February to March 2018 0.0150 194 - 194 Dividends - 11 monthly installments from February to December 2018 0.0150 194 - 194 Provided for (Recorded in Other Liabilities) 1 ,225 (103) 1,122 Dividends - 1 monthly installment paid on
04/02/2018 0.0150 97 - 97 Dividends provision 0.0679 441 - 441 Interest on capital 0.1059 687 (103) 584 Identified in Revenue Reserve In Stockholders’ Equity 0.1435 931 - 931 Total from 01/01 to 03/31/2018 2,350 (103) 2,247 F-67 Itaú
Unibanco Holding S.A. b) Dividends Shareholders are entitled mandatory minimum dividends in each fiscal year, corresponding to 25% of adjusted net income, as set forth in the Bylaws. Common and preferred shares participate equally of income
distributed, after common shares have received dividends equal to the annual minimum priority dividend to be paid to preferred shares (R$ 0.022 non-cumulative per share). The calculation of the monthly advance of the mandatory minimum dividend is
based on the share position on the last day of the prior month, with payment being made on the first business day of the subsequent month, amounting to R$ 0.015 per share. l - Calculation of dividends and interest on capital 03/31/2019 03/31/2018
Statutory net income 6,500 5,539 Adjustments: (-) Legal reserve - 5% (325) (277) Dividend calculation basis 6,175 5,262 1,544 1,316 Mandatory minimum dividend - 25% Dividends and Interest on Capital Paid / Provided for / Identified 2,407 2,247 ll -
Stockholders' compensation 03/31/2019 Gross value per Gross WHT Net share (R$) Paid / prepaid - 2 monthly installment of dividends from February to March 2019 0.0150 292 - 292 Provided for (Recorded in Other Liabilities) 1 ,252 - 1,252 Dividends - 1
monthly installment paid on 04/01/2019 0.0150 146 - 146 Dividends provision 0.1136 1 ,106 - 1,106 Identified in Revenue Reserve In Stockholders’ Equity 0.0886 863 - 863 Total from 01/01 to 03/31/2019 2 ,407 - 2,407 03/31/2018 Gross value per
Gross WHT Net share (R$) Paid / prepaid - 2 monthly installment of dividends from February to March 2018 0.0150 194 - 194 Dividends - 11 monthly installments from February to December 2018 0.0150 194 - 194 Provided for (Recorded in Other
Liabilities) 1 ,225 (103) 1,122 Dividends - 1 monthly installment paid on 04/02/2018 0.0150 97 - 97 Dividends provision 0.0679 441 - 441 Interest on capital 0.1059 687 (103) 584 Identified in Revenue Reserve In Stockholders’ Equity 0.1435 931
- 931 Total from 01/01 to 03/31/2018 2,350 (103) 2,247 F-67
Itaú Unibanco Holding S.A. c) Capital reserves and revenue reserves l
- Additional paid-in capital Additional paid-in capital corresponds to: (i) the difference between the proceeds from the sale of treasury shares and the average cost of such shares, and (ii) the compensation expenses recognized in accordance with
the stock option plan and variable compensation. ll - Appropriated reserves 03/31/2019 12/31/2018 Capital reserves 285 285 Premium on subscription of shares 284 284 Reserves from tax incentives, restatement of equity securities and other 1 1 Revenue
reserves 665 13,195 (1) Legal 10,314 9,989 (2) 1,868 (2,775) Statutory Corporate reorganizations (Note 2.4 a IV) ( 11,517) (11,517) (3) - 17,498 Special revenue reserves Total reserves at parent company 950 13,480 (1) It purpose is to ensure the
integrity of capital, compensate loss or increase capital. (2) Its main purpose is to ensure the remuneration flow to shareholders. (3) Refers to Dividends or Interest on Capital declared after 03/31/2019 and 12/31/2018. lll - Unappropriated
reserves Refers to balance of profit remaining after the distribution of dividends and appropriations to statutory reserves in the statutory accounts of ITAÚ UNIBANCO HOLDING. d) Non-controlling interests Stockholders’ equity Net Income
01/01 to 01/01 to 03/31/2019 12/31/2018 03/31/2019 03/31/2018 Itaú CorpBanca (Note 3) 11,812 11,645 94 79 Itaú CorpBanca Colômbia S.A. (Note 3) 1,329 1,268 28 37 Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento
375 364 23 23 Luizacred S.A. Soc. Cred. Financiamento Investimento 288 288 (1) 19 Other 101 119 12 10 Total 13,905 13,684 156 168 F-68 Itaú Unibanco Holding S.A. c) Capital reserves and revenue reserves l - Additional paid-in capital Additional
paid-in capital corresponds to: (i) the difference between the proceeds from the sale of treasury shares and the average cost of such shares, and (ii) the compensation expenses recognized in accordance with the stock option plan and variable
compensation. ll - Appropriated reserves 03/31/2019 12/31/2018 Capital reserves 285 285 Premium on subscription of shares 284 284 Reserves from tax incentives, restatement of equity securities and other 1 1 Revenue reserves 665 13,195 (1) Legal
10,314 9,989 (2) 1,868 (2,775) Statutory Corporate reorganizations (Note 2.4 a IV) ( 11,517) (11,517) (3) - 17,498 Special revenue reserves Total reserves at parent company 950 13,480 (1) It purpose is to ensure the integrity of capital, compensate
loss or increase capital. (2) Its main purpose is to ensure the remuneration flow to shareholders. (3) Refers to Dividends or Interest on Capital declared after 03/31/2019 and 12/31/2018. lll - Unappropriated reserves Refers to balance of profit
remaining after the distribution of dividends and appropriations to statutory reserves in the statutory accounts of ITAÚ UNIBANCO HOLDING. d) Non-controlling interests Stockholders’ equity Net Income 01/01 to 01/01 to 03/31/2019
12/31/2018 03/31/2019 03/31/2018 Itaú CorpBanca (Note 3) 11,812 11,645 94 79 Itaú CorpBanca Colômbia S.A. (Note 3) 1,329 1,268 28 37 Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento 375 364 23 23 Luizacred S.A.
Soc. Cred. Financiamento Investimento 288 288 (1) 19 Other 101 119 12 10 Total 13,905 13,684 156 168 F-68
Itaú Unibanco Holding S.A. Note 20 – Share-based payment
ITAÚ UNIBANCO HOLDING and its subsidiaries have share-based payment plans aimed at involving its management members and employees in the medium and long term corporate development process. The grant of these benefits are only made in years in
which there are sufficient profits to enable the distribution of mandatory dividends, limiting the maximum dilutive effect to 0.5% of the total shares held by the controlling and minority stockholders at the balance sheet date. These programs are
settled through the delivery of ITUB4 treasury shares to stockholders. Expenses on stock-based payment plans are presented in the table below: 01/01 to 01/01 to 03/31/2019 03/31/2018 Partner Plan (96) (35) Variable compensation plan (111) (117)
Total (207) (152) l – Partner Plan The employees and management members of ITAÚ UNIBANCO HOLDING invest a percentage of their bonus to acquire shares and share-based instruments. Accordingly, the ownership of these shares should be held
by the beneficiaries for a period from three to five years, counted from the initial investment, and are thus subject to market price variation. After complying with the suspensive conditions set forth in the program, beneficiaries will be entitled
to receive shares as consideration, in accordance with the numbers of shares provided for in the program regulation. The acquisition prices of shares and share-based Instruments are established every six months and are equivalent to the average of
share quotation in the 30 days prior to the determination of the acquisition price, which is performed on the seventh business day prior to the remuneration grant date. The fair value of the shares as consideration is the market price at the grant
date, less expected dividends. Changes in the Partner Program 01/01 to 01/01 to 03/31/2019 03/31/2018 Quantity Quantity 48,871,182 51,074,441 Opening balance New granted 7,966,558 9,709,293 Exercised (15,480,748) (10,441,872) Cancelled (55,111)
(346,239) Closing balance 41,301,881 49,995,623 Weighted average of remaining contractual life (years) 2.36 2.89 Market value weighted average (R$) 25.49 26.22 F-69 Itaú Unibanco Holding S.A. Note 20 – Share-based payment ITAÚ
UNIBANCO HOLDING and its subsidiaries have share-based payment plans aimed at involving its management members and employees in the medium and long term corporate development process. The grant of these benefits are only made in years in which there
are sufficient profits to enable the distribution of mandatory dividends, limiting the maximum dilutive effect to 0.5% of the total shares held by the controlling and minority stockholders at the balance sheet date. These programs are settled
through the delivery of ITUB4 treasury shares to stockholders. Expenses on stock-based payment plans are presented in the table below: 01/01 to 01/01 to 03/31/2019 03/31/2018 Partner Plan (96) (35) Variable compensation plan (111) (117) Total (207)
(152) l – Partner Plan The employees and management members of ITAÚ UNIBANCO HOLDING invest a percentage of their bonus to acquire shares and share-based instruments. Accordingly, the ownership of these shares should be held by the
beneficiaries for a period from three to five years, counted from the initial investment, and are thus subject to market price variation. After complying with the suspensive conditions set forth in the program, beneficiaries will be entitled to
receive shares as consideration, in accordance with the numbers of shares provided for in the program regulation. The acquisition prices of shares and share-based Instruments are established every six months and are equivalent to the average of
share quotation in the 30 days prior to the determination of the acquisition price, which is performed on the seventh business day prior to the remuneration grant date. The fair value of the shares as consideration is the market price at the grant
date, less expected dividends. Changes in the Partner Program 01/01 to 01/01 to 03/31/2019 03/31/2018 Quantity Quantity 48,871,182 51,074,441 Opening balance New granted 7,966,558 9,709,293 Exercised (15,480,748) (10,441,872) Cancelled (55,111)
(346,239) Closing balance 41,301,881 49,995,623 Weighted average of remaining contractual life (years) 2.36 2.89 Market value weighted average (R$) 25.49 26.22 F-69
Itaú Unibanco Holding S.A. II- Variable compensation In this
plan, 50% of variable compensation of management members should be paid in cash and fifty percent (50%) should be paid in shares for a period of three years. Shares are delivered on a deferred basis, of which one-third (1/3) per year, will be
contingent upon the executive’s remaining with the institution. The deferred unpaid portions may be reversed proportionally to the significant reduction of the recurring income realized or the negative income for the period. Management members
become eligible for the receipt of these benefits according to individual performance, business performance or both. The benefit amount is established according to the activities of each management member that should meet at least the performance
and conduct requirements. The fair value of the share is the market price at its grant date. Change in variable compensation in shares 01/01 to 01/01 to 03/31/2019 03/31/2018 Quantity Quantity Opening balance 25,016,145 31,229,973 New 8,260,102
8,716,022 Delivered (13,934,827) (16,151,886) Cancelled (11,999) (106,055) Closing balance 19,329,421 23,688,054 Market value weighted average (R$) 37.66 34.05 Ill – Stock Option Plan (Simple Options) ITAÚ UNIBANCO HOLDING has a Stock
Option Plan (“Simple Options”), which was discontinued, and only exercisable options remain. Simple options have the following characteristics: a) Exercise price: calculated based on the average prices of shares in the three months of
the year prior to the grant date. The prices determined will be inflation-adjusted to the last business day of the month prior to the option exercise date based on IGP-M or, in its absence, on an index to be determined internally, and should be paid
within the period in force for the settlement of operations on B3. b) Vesting period: determined upon issue, from one to seven years, counted from the grant date. The vesting period is normally determined at five years. Summary of changes in the
Simple options plan 01/01 to 03/31/2019 01/01 to 03/31/2018 Weighted Weighted average Quantity Quantity average exercise price exercise price Opening balance 3,089,599 22.11 24,514,359 25.21 Options exercisable at the end of the period
Opções exercíveis no final do período 3,089,599 22.11 24,514,359 25.21 Options: (*) Canceled / Forfeited (15,590) 29.51 - - Exercised (518,953) 21.84 (13,715,037) 25.88 Closing balance 2 ,555,056 22.30 10,799,322 24.89 Options
exercisable at the end of the period 2 ,555,056 22.30 10,799,322 24.89 Range of exercise prices 22.30 14,47 - 27,55 Weighted average of the remaining contractual life (in years) 0.75 1.14 Market value weighted average (R$) 37.55 33.39 (*) Refers to
non-exercise based on the beneficiary’s decision. F-70 Itaú Unibanco Holding S.A. II- Variable compensation In this plan, 50% of variable compensation of management members should be paid in cash and fifty percent (50%) should be paid in
shares for a period of three years. Shares are delivered on a deferred basis, of which one-third (1/3) per year, will be contingent upon the executive’s remaining with the institution. The deferred unpaid portions may be reversed
proportionally to the significant reduction of the recurring income realized or the negative income for the period. Management members become eligible for the receipt of these benefits according to individual performance, business performance or
both. The benefit amount is established according to the activities of each management member that should meet at least the performance and conduct requirements. The fair value of the share is the market price at its grant date. Change in variable
compensation in shares 01/01 to 01/01 to 03/31/2019 03/31/2018 Quantity Quantity Opening balance 25,016,145 31,229,973 New 8,260,102 8,716,022 Delivered (13,934,827) (16,151,886) Cancelled (11,999) (106,055) Closing balance 19,329,421 23,688,054
Market value weighted average (R$) 37.66 34.05 Ill – Stock Option Plan (Simple Options) ITAÚ UNIBANCO HOLDING has a Stock Option Plan (“Simple Options”), which was discontinued, and only exercisable options remain. Simple
options have the following characteristics: a) Exercise price: calculated based on the average prices of shares in the three months of the year prior to the grant date. The prices determined will be inflation-adjusted to the last business day of the
month prior to the option exercise date based on IGP-M or, in its absence, on an index to be determined internally, and should be paid within the period in force for the settlement of operations on B3. b) Vesting period: determined upon issue, from
one to seven years, counted from the grant date. The vesting period is normally determined at five years. Summary of changes in the Simple options plan 01/01 to 03/31/2019 01/01 to 03/31/2018 Weighted Weighted average Quantity Quantity average
exercise price exercise price Opening balance 3,089,599 22.11 24,514,359 25.21 Options exercisable at the end of the period Opções exercíveis no final do período 3,089,599 22.11 24,514,359 25.21 Options: (*) Canceled / Forfeited
(15,590) 29.51 - - Exercised (518,953) 21.84 (13,715,037) 25.88 Closing balance 2 ,555,056 22.30 10,799,322 24.89 Options exercisable at the end of the period 2 ,555,056 22.30 10,799,322 24.89 Range of exercise prices 22.30 14,47 - 27,55 Weighted
average of the remaining contractual life (in years) 0.75 1.14 Market value weighted average (R$) 37.55 33.39 (*) Refers to non-exercise based on the beneficiary’s decision. F-70
Itaú Unibanco Holding S.A. Note 21 - Interest and similar income and
expense and net gain (loss) on investment securities and derivatives a) Interest and similar income of financial assets at amortized cost and at fair value through other comprehensive income 01/01 to 01/01 to 03/31/2019 03/31/2018 Central Bank
compulsory deposits 1,260 1,355 Interbank deposits 172 298 Securities purchased under agreements to resell 4,502 4,118 Financial assets at fair value through other comprehensive income 2,386 2,048 Financial assets at amortized cost 698 501 Loan and
lease operations 18,943 17,758 Other financial assets 231 329 Total 28,192 26,407 b) Interest and similar expense 01/01 to 01/01 to 03/31/2019 03/31/2018 Deposits (4,464) (3,279) Securities sold under repurchase agreements (5,659) (5,577) Interbank
market debt (3,111) (2,365) Institutional market debt (1,547) (1,580) Financial expense from technical reserves for insurance and private pension plans (3,912) (3,613) Other (31) (17) Total (18,724) (16,431) c) Adjustments to Fair Value of
Financial Assets and Liabilities 01/01 to 01/01 to 03/31/2019 03/31/2018 Financial assets at fair value through profit or loss 1,034 659 (*) 619 432 Derivatives Financial assets designated at fair value through profit or loss (24) 45 Financial
assets at fair value through other comprehensive income (41) 95 Financial liabilities designated at fair value (5) (30) Total 1,583 1,201 (*) Includes the ineffective derivatives portion related to hedge accounting. During the period ended
03/31/2019, ITAÚ UNIBANCO HOLDING recognized of loss of R$ (14) for Financial Assets – Amortized Cost. Note 22 - Banking service fees 01/01 to 01/01 to 03/31/2019 03/31/2018 Current account Fees from credit and debit card services 3,814
3,702 Current account services 2,481 2,474 Asset management fees 1,317 1,160 Fees for guarantees issued and credit lines 412 443 Collection commissions 369 357 Brokerage commission 153 158 Other 593 603 Total 9,139 8,897 F-71 Itaú Unibanco
Holding S.A. Note 21 - Interest and similar income and expense and net gain (loss) on investment securities and derivatives a) Interest and similar income of financial assets at amortized cost and at fair value through other comprehensive income
01/01 to 01/01 to 03/31/2019 03/31/2018 Central Bank compulsory deposits 1,260 1,355 Interbank deposits 172 298 Securities purchased under agreements to resell 4,502 4,118 Financial assets at fair value through other comprehensive income 2,386 2,048
Financial assets at amortized cost 698 501 Loan and lease operations 18,943 17,758 Other financial assets 231 329 Total 28,192 26,407 b) Interest and similar expense 01/01 to 01/01 to 03/31/2019 03/31/2018 Deposits (4,464) (3,279) Securities sold
under repurchase agreements (5,659) (5,577) Interbank market debt (3,111) (2,365) Institutional market debt (1,547) (1,580) Financial expense from technical reserves for insurance and private pension plans (3,912) (3,613) Other (31) (17) Total
(18,724) (16,431) c) Adjustments to Fair Value of Financial Assets and Liabilities 01/01 to 01/01 to 03/31/2019 03/31/2018 Financial assets at fair value through profit or loss 1,034 659 (*) 619 432 Derivatives Financial assets designated at fair
value through profit or loss (24) 45 Financial assets at fair value through other comprehensive income (41) 95 Financial liabilities designated at fair value (5) (30) Total 1,583 1,201 (*) Includes the ineffective derivatives portion related to
hedge accounting. During the period ended 03/31/2019, ITAÚ UNIBANCO HOLDING recognized of loss of R$ (14) for Financial Assets – Amortized Cost. Note 22 - Banking service fees 01/01 to 01/01 to 03/31/2019 03/31/2018 Current account Fees
from credit and debit card services 3,814 3,702 Current account services 2,481 2,474 Asset management fees 1,317 1,160 Fees for guarantees issued and credit lines 412 443 Collection commissions 369 357 Brokerage commission 153 158 Other 593 603
Total 9,139 8,897 F-71
Itaú Unibanco Holding S.A. Note 23 - General and administrative
expenses 01/01 to 01/01 to 03/31/2019 03/31/2018 Personnel expenses (6,093) (5,827) Compensation (2,484) (2,434) Employee profit sharing (1,142) (1,044) Welfare benefits (940) (864) Provision for labor claims and Dismissals (556) (579) Payroll taxes
(806) (798) Stock option plan (Note 20) (96) (35) Training (48) (47) Other (21) (26) Administrative expenses (3,816) (3,934) Third party services (1,042) (995) Data processing and telecommunications (1,070) (1,008) Installations (476) (789)
Advertising, promotions and publications (283) (249) Financial services (202) (192) Security (193) (190) Transportation (88) (84) Materials (86) (89) Travel (51) (46) Other (325) (292) Depreciation and Amortization (1,133) (802) Other expenses
(2,440) (2,241) (1,253) (981) Selling - credit cards (215) (148) Claims Loss on sale of other assets, fixed assets and investments in associates and joint ventures (184) (93) (13) (15) Provision for civil lawsuits (Note 29) (128) (153) Provision for
tax and social security lawsuits (65) (64) Refund of interbank costs Impairment - intangible asset - (167) (582) (620) Other Total (13,482) (12,804) F-72 Itaú Unibanco Holding S.A. Note 23 - General and administrative expenses 01/01 to 01/01 to
03/31/2019 03/31/2018 Personnel expenses (6,093) (5,827) Compensation (2,484) (2,434) Employee profit sharing (1,142) (1,044) Welfare benefits (940) (864) Provision for labor claims and Dismissals (556) (579) Payroll taxes (806) (798) Stock option
plan (Note 20) (96) (35) Training (48) (47) Other (21) (26) Administrative expenses (3,816) (3,934) Third party services (1,042) (995) Data processing and telecommunications (1,070) (1,008) Installations (476) (789) Advertising, promotions and
publications (283) (249) Financial services (202) (192) Security (193) (190) Transportation (88) (84) Materials (86) (89) Travel (51) (46) Other (325) (292) Depreciation and Amortization (1,133) (802) Other expenses (2,440) (2,241) (1,253) (981)
Selling - credit cards (215) (148) Claims Loss on sale of other assets, fixed assets and investments in associates and joint ventures (184) (93) (13) (15) Provision for civil lawsuits (Note 29) (128) (153) Provision for tax and social security
lawsuits (65) (64) Refund of interbank costs Impairment - intangible asset - (167) (582) (620) Other Total (13,482) (12,804) F-72
Itaú Unibanco Holding S.A. Note 24 – Taxes ITAÚ UNIBANCO
HOLDING and each one of its subsidiaries calculate separately, in each fiscal year, Income Tax and Social Contribution on Net Income. Taxes are calculated at the rates shown below and consider, for effects of respective calculation bases, the
legislation in force applicable to each charge. Income tax 15.00% Additional income tax 10.00% (*) 15.00% Social contribution (*) For non-financial subsidiaries the Social Contribution tax rate is 9.00%. a) Expenses for taxes and contributions
Demonstration of income tax and social contribution expense calculation: 01/01 to 01/01 to Due on operations for the period 03/31/2019 03/31/2018 Income before income tax and social contribution 9,538 9,563 Charges (income tax and social
contribution) at the rates in effect (3,815) (4,303) Increase / decrease in income tax and social contribution charges arising from: Share of profit or (loss) of associates and joint ventures net 59 57 Foreign exchange variation on investiments
abroad (72) 136 Interest on capital 862 932 Corporate reorganizations (Note 2.4 a IV) - 157 Dividends and interest on external debt bonds 87 68 (*) 1,210 1,374 Other nondeductible expenses net of non taxable income Income tax and social contribution
expenses (1,669) (1,579) Related to temporary differences Increase (reversal) for the period (972) (1,661) Increase (reversal) of prior periods 6 234 (Expenses) / Income related to deferred taxes (966) (1,427) Total income tax and social
contribution expenses (2,635) (3,006) (*) Includes temporary (additions) and exclusions. The effective IRPJ and CSLL rate in 2018 was 34.1%. This rate is calculated based on the managerial analysis of operations, with the adoption of criteria that
affect the breakdown between the income lines and they do not affect net income. Among the managerial adjustments, which are reclassified to the financial margin, we point out the tax effects of hedging investments abroad, which are originally
recorded in the tax expenses (PIS and COFINS) and Corporate Income Tax and Social Contribution on Net Income (IRPJ and CSLL) lines. F-73 Itaú Unibanco Holding S.A. Note 24 – Taxes ITAÚ UNIBANCO HOLDING and each one of its
subsidiaries calculate separately, in each fiscal year, Income Tax and Social Contribution on Net Income. Taxes are calculated at the rates shown below and consider, for effects of respective calculation bases, the legislation in force applicable to
each charge. Income tax 15.00% Additional income tax 10.00% (*) 15.00% Social contribution (*) For non-financial subsidiaries the Social Contribution tax rate is 9.00%. a) Expenses for taxes and contributions Demonstration of income tax and social
contribution expense calculation: 01/01 to 01/01 to Due on operations for the period 03/31/2019 03/31/2018 Income before income tax and social contribution 9,538 9,563 Charges (income tax and social contribution) at the rates in effect (3,815)
(4,303) Increase / decrease in income tax and social contribution charges arising from: Share of profit or (loss) of associates and joint ventures net 59 57 Foreign exchange variation on investiments abroad (72) 136 Interest on capital 862 932
Corporate reorganizations (Note 2.4 a IV) - 157 Dividends and interest on external debt bonds 87 68 (*) 1,210 1,374 Other nondeductible expenses net of non taxable income Income tax and social contribution expenses (1,669) (1,579) Related to
temporary differences Increase (reversal) for the period (972) (1,661) Increase (reversal) of prior periods 6 234 (Expenses) / Income related to deferred taxes (966) (1,427) Total income tax and social contribution expenses (2,635) (3,006) (*)
Includes temporary (additions) and exclusions. The effective IRPJ and CSLL rate in 2018 was 34.1%. This rate is calculated based on the managerial analysis of operations, with the adoption of criteria that affect the breakdown between the income
lines and they do not affect net income. Among the managerial adjustments, which are reclassified to the financial margin, we point out the tax effects of hedging investments abroad, which are originally recorded in the tax expenses (PIS and COFINS)
and Corporate Income Tax and Social Contribution on Net Income (IRPJ and CSLL) lines. F-73
Itaú Unibanco Holding S.A. b) Deferred taxes I - The deferred tax
asset balance and its changes, segregated based on its origin and disbursements, are represented by: Realization / 12/31/2018 Increase 03/31/2019 Reversal Reflected in income 37,252 (6,102) 5,273 36,423 Provision for expected loss 18,563 (2,247)
1,172 17,488 Related to tax losses and social contribution loss carryforwards 4,391 (4) 914 5,301 Provision for profit sharing 1,844 (1,844) 833 833 Provision for devaluation of securities with permanent impairment 1,729 (179) 217 1,767 Provision
4,464 (348) 382 4,498 1,586 (125) - 1,461 Civil lawsuits Labor claims 2,037 (178) 283 2,142 Tax and social security 841 (45) 99 895 Goodwill on purchase of investments 60 (64) 33 29 Legal liabilities 676 (52) 10 634 Adjustments of operations carried
out on the futures settlement market 98 (98) 118 118 Adjustment to Fair Value of Financial Assets - At Fair Value Through Profit 631 (631) 580 580 or Loss Provision related to health insurance operations 343 - 2 345 Other 4,453 (635) 1,012 4,830
Reflected in stockholders’ equity 1,888 (135) 127 1,880 Adjustment to Fair Value of Financial Assets - At Fair Value Through Other 383 (54) 125 454 Comprehensive Income Cash flow hedge 1,149 (80) 2 1,071 Other 356 (1) - 355 (1)(2) Total 39,140
(6,237) 5,400 38,303 (1) Deferred income tax and social contribution assets and liabilities are recorded in the balance sheet offset by a taxable entity and total R$ 31,505 and R$ 267, respectively. (2) The accounting records of deferred tax assets
on income tax losses and/or social contribution loss carryforwards, as well as those arising from temporary differences, are based on technical feasibility studies which consider the expected generation of future taxable income, considering the
history of profitability for each subsidiary individually, and for the consolidated taken as a whole. Realization / 12/31/2017 Increase 12/31/2018 Reversal Reflected in income 48,810 (23,511) 11,953 37,252 Provision for expected loss 24,686 (9,746)
3,623 18,563 Related to tax losses and social contribution loss carryforwards 7,595 (3,649) 445 4,391 Provision for profit sharing 1,829 (1,829) 1,844 1,844 Provision for devaluation of securities with permanent impairment 2,228 (1,843) 1,344 1,729
Provision 5,194 (2,124) 1,394 4,464 Civil lawsuits 1,974 (610) 222 1,586 Labor claims 2,200 (1,280) 1,117 2,037 Tax and social security 1,020 (234) 55 841 141 (163) 82 60 Goodwill on purchase of investments Legal liabilities 488 (61) 249 676
Adjustments of operations carried out in futures settlement market 277 (277) 98 98 Adjustment to Fair Value of Financial Assets - At Fair Value Through Profit 429 (429) 631 631 or Loss Provision related to health insurance operations 341 (5) 7 343
5,602 (3,385) 2,236 4,453 Other Reflected in stockholders’ equity 2,192 (785) 481 1,888 Corporate reorganizations (Note 2.4 a IV) 628 (628) - - Adjustment to Fair Value of Financial Assets - At Fair Value Through Other 327 (157) 213 383
Comprehensive Income Cash flow hedge 983 - 166 1,149 Other 254 - 102 356 (*) Total 51,002 (24,296) 12,434 39,140 (*) Deferred income tax and social contribution assets and liabilities are recorded in the balance sheet offset by a taxable entity and
total R$ 32,781 and R$ 447, respectively. F-74 Itaú Unibanco Holding S.A. b) Deferred taxes I - The deferred tax asset balance and its changes, segregated based on its origin and disbursements, are represented by: Realization / 12/31/2018
Increase 03/31/2019 Reversal Reflected in income 37,252 (6,102) 5,273 36,423 Provision for expected loss 18,563 (2,247) 1,172 17,488 Related to tax losses and social contribution loss carryforwards 4,391 (4) 914 5,301 Provision for profit sharing
1,844 (1,844) 833 833 Provision for devaluation of securities with permanent impairment 1,729 (179) 217 1,767 Provision 4,464 (348) 382 4,498 1,586 (125) - 1,461 Civil lawsuits Labor claims 2,037 (178) 283 2,142 Tax and social security 841 (45) 99
895 Goodwill on purchase of investments 60 (64) 33 29 Legal liabilities 676 (52) 10 634 Adjustments of operations carried out on the futures settlement market 98 (98) 118 118 Adjustment to Fair Value of Financial Assets - At Fair Value Through
Profit 631 (631) 580 580 or Loss Provision related to health insurance operations 343 - 2 345 Other 4,453 (635) 1,012 4,830 Reflected in stockholders’ equity 1,888 (135) 127 1,880 Adjustment to Fair Value of Financial Assets - At Fair Value
Through Other 383 (54) 125 454 Comprehensive Income Cash flow hedge 1,149 (80) 2 1,071 Other 356 (1) - 355 (1)(2) Total 39,140 (6,237) 5,400 38,303 (1) Deferred income tax and social contribution assets and liabilities are recorded in the balance
sheet offset by a taxable entity and total R$ 31,505 and R$ 267, respectively. (2) The accounting records of deferred tax assets on income tax losses and/or social contribution loss carryforwards, as well as those arising from temporary differences,
are based on technical feasibility studies which consider the expected generation of future taxable income, considering the history of profitability for each subsidiary individually, and for the consolidated taken as a whole. Realization /
12/31/2017 Increase 12/31/2018 Reversal Reflected in income 48,810 (23,511) 11,953 37,252 Provision for expected loss 24,686 (9,746) 3,623 18,563 Related to tax losses and social contribution loss carryforwards 7,595 (3,649) 445 4,391 Provision for
profit sharing 1,829 (1,829) 1,844 1,844 Provision for devaluation of securities with permanent impairment 2,228 (1,843) 1,344 1,729 Provision 5,194 (2,124) 1,394 4,464 Civil lawsuits 1,974 (610) 222 1,586 Labor claims 2,200 (1,280) 1,117 2,037 Tax
and social security 1,020 (234) 55 841 141 (163) 82 60 Goodwill on purchase of investments Legal liabilities 488 (61) 249 676 Adjustments of operations carried out in futures settlement market 277 (277) 98 98 Adjustment to Fair Value of Financial
Assets - At Fair Value Through Profit 429 (429) 631 631 or Loss Provision related to health insurance operations 341 (5) 7 343 5,602 (3,385) 2,236 4,453 Other Reflected in stockholders’ equity 2,192 (785) 481 1,888 Corporate reorganizations
(Note 2.4 a IV) 628 (628) - - Adjustment to Fair Value of Financial Assets - At Fair Value Through Other 327 (157) 213 383 Comprehensive Income Cash flow hedge 983 - 166 1,149 Other 254 - 102 356 (*) Total 51,002 (24,296) 12,434 39,140 (*) Deferred
income tax and social contribution assets and liabilities are recorded in the balance sheet offset by a taxable entity and total R$ 32,781 and R$ 447, respectively. F-74
Itaú Unibanco Holding S.A. II - The provision for deferred tax and
contributions and respective changes are as follows: Realization / 12/31/2018 Increase 03/31/2019 reversal Reflected in income 6,144 (2,780) 2,917 6,281 Depreciation in excess – finance lease 346 (19) - 327 Adjustment of escrow deposits and
provisions 1,348 - 9 1,357 Post-employment benefits 287 (11) 3 279 Adjustments of operations carried out on the futures settlement market 923 (923) 1,154 1,154 Adjustment to Fair Value of Financial Assets - At Fair Value Through Profit or 1,790
(1,790) 1,682 1,682 Loss Taxation of results abroad – capital gains 659 - 19 678 Other 791 (37) 50 804 Reflected in stockholders’ equity 662 (33) 155 784 Adjustment to Fair Value of Financial Assets - At Fair Value Through Other 474 (14)
155 615 Comprehensive Income Cash flow hedge 168 (18) - 150 Post-employment benefits 7 (1) - 6 Other 13 - - 13 (*) Total 6,806 (2,813) 3,072 7,065 (*) Deferred income tax and social contribution asset and liabilities are recorded in the balance
sheet offset by a taxable entity and total R$ 31,505 and R$ 267, respectively. Realization / 12/31/2017 Increase 12/31/2018 reversal 14,569 (11,385) 2,960 6,144 Reflected in income Depreciation in excess – finance lease 613 (267) - 346
Adjustment of escrow deposits and provisions 1,280 (11) 79 1,348 Post-employment benefits 304 (143) 126 287 Adjustments of operations carried out on the futures settlement market 1,421 (1,421) 923 923 Adjustment to Fair Value of Financial Assets -
At Fair Value Through Profit or 7,592 (7,592) 1,790 1,790 Loss Taxation of results abroad – capital gains 1,973 (1,314) - 659 Other 1,386 (637) 42 791 Reflected in stockholders’ equity 955 (311) 18 662 Adjustment to Fair Value of
Financial Assets - At Fair Value Through Other 767 (302) 9 474 Comprehensive Income Cash flow hedge 166 - 2 168 Post-employment benefits 9 (9) 7 7 Other 13 - - 13 (*) Total 15,524 (11,696) 2,978 6,806 (*) Deferred income tax and social contribution
asset and liabilities are recorded in the balance sheet offset by a taxable entity and total R$ 32,781 and R$ 447, respectively. F-75 Itaú Unibanco Holding S.A. II - The provision for deferred tax and contributions and respective changes are as
follows: Realization / 12/31/2018 Increase 03/31/2019 reversal Reflected in income 6,144 (2,780) 2,917 6,281 Depreciation in excess – finance lease 346 (19) - 327 Adjustment of escrow deposits and provisions 1,348 - 9 1,357 Post-employment
benefits 287 (11) 3 279 Adjustments of operations carried out on the futures settlement market 923 (923) 1,154 1,154 Adjustment to Fair Value of Financial Assets - At Fair Value Through Profit or 1,790 (1,790) 1,682 1,682 Loss Taxation of results
abroad – capital gains 659 - 19 678 Other 791 (37) 50 804 Reflected in stockholders’ equity 662 (33) 155 784 Adjustment to Fair Value of Financial Assets - At Fair Value Through Other 474 (14) 155 615 Comprehensive Income Cash flow hedge
168 (18) - 150 Post-employment benefits 7 (1) - 6 Other 13 - - 13 (*) Total 6,806 (2,813) 3,072 7,065 (*) Deferred income tax and social contribution asset and liabilities are recorded in the balance sheet offset by a taxable entity and total R$
31,505 and R$ 267, respectively. Realization / 12/31/2017 Increase 12/31/2018 reversal 14,569 (11,385) 2,960 6,144 Reflected in income Depreciation in excess – finance lease 613 (267) - 346 Adjustment of escrow deposits and provisions 1,280
(11) 79 1,348 Post-employment benefits 304 (143) 126 287 Adjustments of operations carried out on the futures settlement market 1,421 (1,421) 923 923 Adjustment to Fair Value of Financial Assets - At Fair Value Through Profit or 7,592 (7,592) 1,790
1,790 Loss Taxation of results abroad – capital gains 1,973 (1,314) - 659 Other 1,386 (637) 42 791 Reflected in stockholders’ equity 955 (311) 18 662 Adjustment to Fair Value of Financial Assets - At Fair Value Through Other 767 (302) 9
474 Comprehensive Income Cash flow hedge 166 - 2 168 Post-employment benefits 9 (9) 7 7 Other 13 - - 13 (*) Total 15,524 (11,696) 2,978 6,806 (*) Deferred income tax and social contribution asset and liabilities are recorded in the balance sheet
offset by a taxable entity and total R$ 32,781 and R$ 447, respectively. F-75
Itaú Unibanco Holding S.A. III - The estimate of realization and
present value of tax credits and from the Provision for Deferred Income Tax and Social Contribution existing at 03/31/2019, are: Deferred tax assets Net Year of Tax loss / social Deferred tax Temporary % deferred % realization % contribution loss %
Total % liabilities differences taxes carryforwards 2019 7,387 23% 1,771 33% 9,158 24% (882) 13% 8,276 26% 2020 11,894 36% 335 6% 12,229 32% ( 1,071) 15% 11,158 36% 2021 5,333 16% 967 18% 6,300 16% (227) 3% 6,073 19% 2022 2,014 6% 778 15% 2,792 7%
(1,343) 19% 1,449 5% 2023 941 3% 140 3% 1,081 3% (130) 2% 951 3% After 2023 5,433 16% 1,310 25% 6,743 18% (3,412) 48% 3,331 11% Total 33,002 100% 5,301 100% 38,303 100% ( 7,065) 100% 31,238 100% (*) Present value 30,269 4,784 35,053 ( 6,076) 28,977
(*) The average funding rate, net of tax effects, was used to determine the present value. The projections of future taxable income include estimates related to macroeconomic variables, exchange rates, interest rates, volume of financial operations
and services fees and others, which can vary in relation to actual data and amounts. Net income in the financial statements is not directly related to the taxable income, due to differences between the accounting criteria and tax legislation, in
addition to corporate aspects. Accordingly, it is recommended that changes in realization of deferred tax assets presented below is not considered as an indication of future net income. IV - At March 31, 2018, temporary effects brought by Law
nº. 13,169/15 were considered, which increased the social contribution tax rate from 15% to 20% until December 31, 2018, and tax credits were recognized based on their likelihood of realization. As at 03/31/2019 and 12/31/2018, there are no
unrecognized tax credits. c) Tax liabilities 03/31/2019 12/31/2018 Taxes and contributions on income payable 34 615 Other Taxes and Contributions payable 1,781 1,443 Provision for deferred income tax and social contribution (Note 24b II) 267 447
Other 3,047 2,779 Total 5,129 5,284 F-76 Itaú Unibanco Holding S.A. III - The estimate of realization and present value of tax credits and from the Provision for Deferred Income Tax and Social Contribution existing at 03/31/2019, are: Deferred
tax assets Net Year of Tax loss / social Deferred tax Temporary % deferred % realization % contribution loss % Total % liabilities differences taxes carryforwards 2019 7,387 23% 1,771 33% 9,158 24% (882) 13% 8,276 26% 2020 11,894 36% 335 6% 12,229
32% ( 1,071) 15% 11,158 36% 2021 5,333 16% 967 18% 6,300 16% (227) 3% 6,073 19% 2022 2,014 6% 778 15% 2,792 7% (1,343) 19% 1,449 5% 2023 941 3% 140 3% 1,081 3% (130) 2% 951 3% After 2023 5,433 16% 1,310 25% 6,743 18% (3,412) 48% 3,331 11% Total
33,002 100% 5,301 100% 38,303 100% ( 7,065) 100% 31,238 100% (*) Present value 30,269 4,784 35,053 ( 6,076) 28,977 (*) The average funding rate, net of tax effects, was used to determine the present value. The projections of future taxable income
include estimates related to macroeconomic variables, exchange rates, interest rates, volume of financial operations and services fees and others, which can vary in relation to actual data and amounts. Net income in the financial statements is not
directly related to the taxable income, due to differences between the accounting criteria and tax legislation, in addition to corporate aspects. Accordingly, it is recommended that changes in realization of deferred tax assets presented below is
not considered as an indication of future net income. IV - At March 31, 2018, temporary effects brought by Law nº. 13,169/15 were considered, which increased the social contribution tax rate from 15% to 20% until December 31, 2018, and tax
credits were recognized based on their likelihood of realization. As at 03/31/2019 and 12/31/2018, there are no unrecognized tax credits. c) Tax liabilities 03/31/2019 12/31/2018 Taxes and contributions on income payable 34 615 Other Taxes and
Contributions payable 1,781 1,443 Provision for deferred income tax and social contribution (Note 24b II) 267 447 Other 3,047 2,779 Total 5,129 5,284 F-76
Itaú Unibanco Holding S.A. Note 25 – Earnings per share a)
Earning per share basic Net income attributable to ITAÚ UNIBANCO HOLDING’s shareholders is divided by the average number of outstanding shares in the period, excluding treasury shares. 01/01 to 01/01 to 03/31/2019 03/31/2018 Net income
attributable to owners of the parent company 6,747 6,389 Minimum non-cumulative dividend on preferred shares (105) (105) Retained earnings to be distributed to common equity owners in an amount per share equal to the minimum dividend payable to
preferred equity owners (109) (109) Retained earnings to be distributed, on a pro-rata basis, to common and preferred equity owners: Common 3,330 3,152 Preferred 3,203 3,023 Total net income available to equity owners: Common 3,439 3,261 Preferred
3,308 3,128 Weighted average number of shares outstanding Common 4,958,290,359 4,958,290,359 Preferred 4,770,295,919 4,756,090,561 Earnings per share - Basic – R$ Common 0.69 0.66 Preferred 0.69 0.66 b) Earnings per share diluted Calculated
similarly to the basic earnings per share; however, it includes the conversion of all preferred shares potentially dilutable in the denominator. 01/01 to 01/01 to 03/31/2019 03/31/2018 Total net income available to preferred equity owners 3,308
3,128 Dividend on preferred shares after dilution effects 13 15 3,321 3,143 Net income available to preferred equity owners considering preferred shares after the dilution effect 3,439 3,261 Total net income available to ordinary equity owners (13)
(15) Dividend on preferred shares after dilution effects Net income available to ordinary equity owners considering preferred shares after the dilution effect 3,426 3,246 Adjusted weighted average of shares Common 4,958,290,359 4,958,290,359
Preferred 4,806,592,987 4,800,236,634 Preferred 4,770,295,919 4,756,090,561 Incremental from stock options granted under our share-based payment 36,297,068 44,146,073 Earnings per share - diluted – R$ Common 0.69 0.65 Preferred 0.69 0.65 There
was not potentially antidulitive effect of the shares in Stock Based Payment Plans in both periods and, for better comparability, shares at March 31, 2018 were adjusted by the split approved on October 31, 2018. F-77 Itaú Unibanco Holding S.A.
Note 25 – Earnings per share a) Earning per share basic Net income attributable to ITAÚ UNIBANCO HOLDING’s shareholders is divided by the average number of outstanding shares in the period, excluding treasury shares. 01/01 to 01/01
to 03/31/2019 03/31/2018 Net income attributable to owners of the parent company 6,747 6,389 Minimum non-cumulative dividend on preferred shares (105) (105) Retained earnings to be distributed to common equity owners in an amount per share equal to
the minimum dividend payable to preferred equity owners (109) (109) Retained earnings to be distributed, on a pro-rata basis, to common and preferred equity owners: Common 3,330 3,152 Preferred 3,203 3,023 Total net income available to equity
owners: Common 3,439 3,261 Preferred 3,308 3,128 Weighted average number of shares outstanding Common 4,958,290,359 4,958,290,359 Preferred 4,770,295,919 4,756,090,561 Earnings per share - Basic – R$ Common 0.69 0.66 Preferred 0.69 0.66 b)
Earnings per share diluted Calculated similarly to the basic earnings per share; however, it includes the conversion of all preferred shares potentially dilutable in the denominator. 01/01 to 01/01 to 03/31/2019 03/31/2018 Total net income available
to preferred equity owners 3,308 3,128 Dividend on preferred shares after dilution effects 13 15 3,321 3,143 Net income available to preferred equity owners considering preferred shares after the dilution effect 3,439 3,261 Total net income
available to ordinary equity owners (13) (15) Dividend on preferred shares after dilution effects Net income available to ordinary equity owners considering preferred shares after the dilution effect 3,426 3,246 Adjusted weighted average of shares
Common 4,958,290,359 4,958,290,359 Preferred 4,806,592,987 4,800,236,634 Preferred 4,770,295,919 4,756,090,561 Incremental from stock options granted under our share-based payment 36,297,068 44,146,073 Earnings per share - diluted – R$ Common
0.69 0.65 Preferred 0.69 0.65 There was not potentially antidulitive effect of the shares in Stock Based Payment Plans in both periods and, for better comparability, shares at March 31, 2018 were adjusted by the split approved on October 31, 2018.
F-77
Itaú Unibanco Holding S.A. Note 26 – Post-employment benefits
ITAÚ UNIBANCO HOLDING, through its subsidiaries, sponsors retirement plans to its employees. Retirement plans are managed by Closed-end Private Pension Entities (EFPC) and are closed to new adhesions. These entities have an independent
structure and manage their plans according to the characteristics of their regulations. There are three types of retirement plans: • Defined Benefit Plans (BD): plans which scheduled benefits have their value established in advance, based on
salaries and/or length of service of employees, and its cost is actuarially determined; • Defined Contribution Plans (CD): are those plans which scheduled benefits have their value permanently adjusted to the investments balance, kept in favor
of the participant, including in the benefit concession phase, considering net proceedings of its investment, amounts contributed and benefits paid; and • Variable Contribution Plans (CV): in this type of plan, scheduled benefits present a
combination of characteristics of defined contribution and defined benefit modalities, and the benefit is actuarially determined based on the investment accumulated by the participant on the eligibility date. Below is a list of benefit plans and
their modalities: Entity Benefit plan Modality Supplementary retirement plan Supplementary Retirement Plan – Flexible Premium Annuity Franprev benefit plan – PBF 002 benefit plan - PB002 Prebeg benefit plan Defined Benefit UBB PREV
defined benefit plan Benefit Plan II Itaulam basic plan Fundação Itaú Unibanco - Previdência Itaú Defined Benefit Plan Complementar - FIU REDECARD Retirement Plan ITAUCARD Retirement Defined Benefit Plan Itaubanco Defined
Contribution Plan Itaubank Retirement Plan Defined Contribution REDECARD Pension Plan Unibanco Pension Plan Itaulam Supplementary Plan Itaú Defined Contribution Plan Variable Contribution REDECARD Retirement Plan ITAUCARD Supplementary
Retirement Plan FUNBEP Fundo de Pensão Funbep I Benefit Plan Defined Benefit Multipatrocinado Funbep II Benefit Plan Variable Contribution The modality of Defined Contribution plans have funds composed by the portions of sponsors’
contributions not yet included in the participant’s account balance due to loss of eligibility to the benefit, as well as of resources arising from the migration of retirement plans in defined benefit modality. The fund is used for future
contributions to the individual participants' accounts, according to the rules of the respective benefit plan regulation. F-78 Itaú Unibanco Holding S.A. Note 26 – Post-employment benefits ITAÚ UNIBANCO HOLDING, through its
subsidiaries, sponsors retirement plans to its employees. Retirement plans are managed by Closed-end Private Pension Entities (EFPC) and are closed to new adhesions. These entities have an independent structure and manage their plans according to
the characteristics of their regulations. There are three types of retirement plans: • Defined Benefit Plans (BD): plans which scheduled benefits have their value established in advance, based on salaries and/or length of service of employees,
and its cost is actuarially determined; • Defined Contribution Plans (CD): are those plans which scheduled benefits have their value permanently adjusted to the investments balance, kept in favor of the participant, including in the benefit
concession phase, considering net proceedings of its investment, amounts contributed and benefits paid; and • Variable Contribution Plans (CV): in this type of plan, scheduled benefits present a combination of characteristics of defined
contribution and defined benefit modalities, and the benefit is actuarially determined based on the investment accumulated by the participant on the eligibility date. Below is a list of benefit plans and their modalities: Entity Benefit plan
Modality Supplementary retirement plan Supplementary Retirement Plan – Flexible Premium Annuity Franprev benefit plan – PBF 002 benefit plan - PB002 Prebeg benefit plan Defined Benefit UBB PREV defined benefit plan Benefit Plan II
Itaulam basic plan Fundação Itaú Unibanco - Previdência Itaú Defined Benefit Plan Complementar - FIU REDECARD Retirement Plan ITAUCARD Retirement Defined Benefit Plan Itaubanco Defined Contribution Plan Itaubank Retirement
Plan Defined Contribution REDECARD Pension Plan Unibanco Pension Plan Itaulam Supplementary Plan Itaú Defined Contribution Plan Variable Contribution REDECARD Retirement Plan ITAUCARD Supplementary Retirement Plan FUNBEP Fundo de Pensão
Funbep I Benefit Plan Defined Benefit Multipatrocinado Funbep II Benefit Plan Variable Contribution The modality of Defined Contribution plans have funds composed by the portions of sponsors’ contributions not yet included in the
participant’s account balance due to loss of eligibility to the benefit, as well as of resources arising from the migration of retirement plans in defined benefit modality. The fund is used for future contributions to the individual
participants' accounts, according to the rules of the respective benefit plan regulation. F-78
Itaú Unibanco Holding S.A. a) Main Actuarial Assumptions Actuarial
assumptions of demographic and financial nature should reflect the best estimated about the variables that determine the post-employment benefit amounts. The main demographic assumptions comprise: mortality table and turnover of active participants
and the main financial assumptions include: discount rate, future salary increases, growth of plan benefits and inflation. 03/31/2019 03/31/2018 (1) Discount rate 9.72% p.a. 9.98% p.a. (2) Mortality table AT-2000 AT-2000 (3) Turnover Itaú
Experience 2008/2010 Itaú Experience 2008/2010 Future salary growth 4.00% to 7.12 % p.a. 5.04% to 7.12 % p.a. Growth of the pension fund benefits 4.00 % p.a. 4.00 % p.a. Inflation 4.00 % p.a. 4.00 % p.a. Actuarial method Projected Unit Credit
Projected Unit Credit (1) Determined based on market yield related to National Treasury Notes (NTN-B) and compatible with the economic scenario observed on the balance sheet closing date, considering the volatility of interest market and models
used. (2) Correspond to those disclosed by SOA – Society of Actuaries , that reflect a 10% increase in the probabilities of survival regarding the respective basic tables. (3) Updated to the new expectation of mass behavior. Retired plans
sponsored by foreign subsidiaries - Banco Itaú (Suisse) S.A., Itaú CorpBanca Colombia S.A. and PROSERV - Promociones y Servicios S.A. de C.V. - are structured as Defined Benefit modality and adopt actual assumptions adequate to masses of
participants and the economic scenario of each country. b) Risk Management The EFPCs sponsored by ITAÚ UNIBANCO HOLDING are regulated by the National Council for Complementary Pension (CNPC) and PREVIC, has an Executive Board, Advisory and Tax
Councils. Benefits offered have long-tem characteristics and the main factors involved in the management and measurement of their risks are financial risk, inflation risk and biometric risk. - Financial Risk – the actuarial liability is
calculated by adopting a discount rate different from rates earned in investments. If real income from plan investments is lower than yield expected, this may give rise to a deficit. To mitigate this risk and assure the capacity to pay long-term
benefits, the plans have a significant percentage of fixed-income securities pegged to the plan commitments, aiming at minimizing volatility and risk of mismatch between assets and liabilities. - Inflation risk – a large part of liabilities is
pegged to inflation risk, making actuarial liabilities sensitive to increase in rates. To mitigate this risk, the same financial risks mitigation strategies are used. - Demographic Risk – plans that have any obligation actuarially assessed are
exposed to biometric risk. In the event the mortality tables used are not adherent to the mass of plan participants, a deficit or surplus may arise in actuarial evaluation. To mitigate this risk, adherence tests to biometric assumptions are
conducted to ensure their adequacy to liabilities of respective plans. For purposes of registering in the balance sheet the EFPCs that manage them, actuarial liabilities of plans use discount rate adherent to its asset portfolio and income and
expense flows, according to a study preparedby an independent consulting company. The actuarial method used is the aggregate method, through which the plan costing Is defined by the difference between its equity coverage and the current value of its
future liabilities. Observing the methodology established in the respective actuarial technical note. In the event deficit is verified in the concession period above the settlement limits set forth by the legislation in force, a debt agreement is
entered into with the sponsor with financial guarantees. F-79 Itaú Unibanco Holding S.A. a) Main Actuarial Assumptions Actuarial assumptions of demographic and financial nature should reflect the best estimated about the variables that
determine the post-employment benefit amounts. The main demographic assumptions comprise: mortality table and turnover of active participants and the main financial assumptions include: discount rate, future salary increases, growth of plan benefits
and inflation. 03/31/2019 03/31/2018 (1) Discount rate 9.72% p.a. 9.98% p.a. (2) Mortality table AT-2000 AT-2000 (3) Turnover Itaú Experience 2008/2010 Itaú Experience 2008/2010 Future salary growth 4.00% to 7.12 % p.a. 5.04% to 7.12 %
p.a. Growth of the pension fund benefits 4.00 % p.a. 4.00 % p.a. Inflation 4.00 % p.a. 4.00 % p.a. Actuarial method Projected Unit Credit Projected Unit Credit (1) Determined based on market yield related to National Treasury Notes (NTN-B) and
compatible with the economic scenario observed on the balance sheet closing date, considering the volatility of interest market and models used. (2) Correspond to those disclosed by SOA – Society of Actuaries , that reflect a 10% increase in
the probabilities of survival regarding the respective basic tables. (3) Updated to the new expectation of mass behavior. Retired plans sponsored by foreign subsidiaries - Banco Itaú (Suisse) S.A., Itaú CorpBanca Colombia S.A. and PROSERV
- Promociones y Servicios S.A. de C.V. - are structured as Defined Benefit modality and adopt actual assumptions adequate to masses of participants and the economic scenario of each country. b) Risk Management The EFPCs sponsored by ITAÚ
UNIBANCO HOLDING are regulated by the National Council for Complementary Pension (CNPC) and PREVIC, has an Executive Board, Advisory and Tax Councils. Benefits offered have long-tem characteristics and the main factors involved in the management and
measurement of their risks are financial risk, inflation risk and biometric risk. - Financial Risk – the actuarial liability is calculated by adopting a discount rate different from rates earned in investments. If real income from plan
investments is lower than yield expected, this may give rise to a deficit. To mitigate this risk and assure the capacity to pay long-term benefits, the plans have a significant percentage of fixed-income securities pegged to the plan commitments,
aiming at minimizing volatility and risk of mismatch between assets and liabilities. - Inflation risk – a large part of liabilities is pegged to inflation risk, making actuarial liabilities sensitive to increase in rates. To mitigate this
risk, the same financial risks mitigation strategies are used. - Demographic Risk – plans that have any obligation actuarially assessed are exposed to biometric risk. In the event the mortality tables used are not adherent to the mass of plan
participants, a deficit or surplus may arise in actuarial evaluation. To mitigate this risk, adherence tests to biometric assumptions are conducted to ensure their adequacy to liabilities of respective plans. For purposes of registering in the
balance sheet the EFPCs that manage them, actuarial liabilities of plans use discount rate adherent to its asset portfolio and income and expense flows, according to a study preparedby an independent consulting company. The actuarial method used is
the aggregate method, through which the plan costing Is defined by the difference between its equity coverage and the current value of its future liabilities. Observing the methodology established in the respective actuarial technical note. In the
event deficit is verified in the concession period above the settlement limits set forth by the legislation in force, a debt agreement is entered into with the sponsor with financial guarantees. F-79
Itaú Unibanco Holding S.A. c) Asset management The purpose of the
management of the funds is the long-term balance between pension assets and liabilities with payment of benefits by exceeding actuarial goals (discount rate plus benefit adjustment index, established in the plan regulations). Below is a table with
the allocation of assets by category, segmented into Quoted in an Active Market and Not Quoted in an Active Market: Fair value % Allocation Types 03/31/2019 12/31/2018 03/31/2019 12/31/2018 Fixed income securities 17,492 18,065 92.19% 96.05% Quoted
in an active market 17,208 17,775 90.70% 94.51% Non quoted in an active market 284 290 1.50% 1.54% Variable income securities 770 24 4.06% 0.13% Quoted in an active market 762 18 4.02% 0.09% Non quoted in an active market 8 6 0.04% 0.04% Structured
investments 65 59 0.34% 0.31% Quoted in an active market 1 1 0.01% 0.01% Non quoted in an active market 64 58 0.34% 0.30% Real estate 566 578 2.98% 3.07% Loans to participants 80 82 0.42% 0.44% Total 18,973 18,808 100.00% 100.00% The defined benefit
plan assets include shares of ITAÚ UNIBANCO HOLDING, its main parent company (ITAÚSA) and of subsidiaries of the latter, with a fair value of R$ 11 (R$ 11 at 12/31/2018), and real estate rented to Group companies, with a fair value of R$
476 (R$ 487 at 12/31/2018). d) Other post-employment benefits ITAÚ UNIBANCO HOLDING and its subsidiaries do not have additional liabilities related to post-employment benefits, except in cases arising from maintenance commitments assumed in
acquisition agreements occurred over the years, as well as those benefits originated from judicial decision in the terms and conditions established, in which there is total or partial sponsorship of health care plan for a specific mass of former
employees and their beneficiaries. Its costing is actuarially determined so as to ensure coverage maintenance. These plans are closed to new adhesions. Assumptions for discount rate, inflation, mortality table and actuarial method are the same used
for retirement plans. In the last 3 years, ITAÚ UNIBANCO HOLDING used the percentage of 8.16% p.a. for medical inflation and the percentage of 3% p.a. for aging factor. Particularly in other post-employment benefits, there is medical inflation
risk associated to increase in medical costs above expectation. To mitigate this risk, the same financial risks mitigation strategies are used. F-80 Itaú Unibanco Holding S.A. c) Asset management The purpose of the management of the funds is
the long-term balance between pension assets and liabilities with payment of benefits by exceeding actuarial goals (discount rate plus benefit adjustment index, established in the plan regulations). Below is a table with the allocation of assets by
category, segmented into Quoted in an Active Market and Not Quoted in an Active Market: Fair value % Allocation Types 03/31/2019 12/31/2018 03/31/2019 12/31/2018 Fixed income securities 17,492 18,065 92.19% 96.05% Quoted in an active market 17,208
17,775 90.70% 94.51% Non quoted in an active market 284 290 1.50% 1.54% Variable income securities 770 24 4.06% 0.13% Quoted in an active market 762 18 4.02% 0.09% Non quoted in an active market 8 6 0.04% 0.04% Structured investments 65 59 0.34%
0.31% Quoted in an active market 1 1 0.01% 0.01% Non quoted in an active market 64 58 0.34% 0.30% Real estate 566 578 2.98% 3.07% Loans to participants 80 82 0.42% 0.44% Total 18,973 18,808 100.00% 100.00% The defined benefit plan assets include
shares of ITAÚ UNIBANCO HOLDING, its main parent company (ITAÚSA) and of subsidiaries of the latter, with a fair value of R$ 11 (R$ 11 at 12/31/2018), and real estate rented to Group companies, with a fair value of R$ 476 (R$ 487 at
12/31/2018). d) Other post-employment benefits ITAÚ UNIBANCO HOLDING and its subsidiaries do not have additional liabilities related to post-employment benefits, except in cases arising from maintenance commitments assumed in acquisition
agreements occurred over the years, as well as those benefits originated from judicial decision in the terms and conditions established, in which there is total or partial sponsorship of health care plan for a specific mass of former employees and
their beneficiaries. Its costing is actuarially determined so as to ensure coverage maintenance. These plans are closed to new adhesions. Assumptions for discount rate, inflation, mortality table and actuarial method are the same used for retirement
plans. In the last 3 years, ITAÚ UNIBANCO HOLDING used the percentage of 8.16% p.a. for medical inflation and the percentage of 3% p.a. for aging factor. Particularly in other post-employment benefits, there is medical inflation risk associated
to increase in medical costs above expectation. To mitigate this risk, the same financial risks mitigation strategies are used. F-80
Itaú Unibanco Holding S.A. e) Net amount recognized in the balance
sheet 03/31/2019 Other post- BD and CV Plans CD Plans Total employment benefits 1 - Net assets of the plans 18,973 1,616 - 20,589 2 - Actuarial liabilities (15,585) - (283) (15,868) (*) 3 - Asset restriction (3,748) ( 962) - (4,710) 4 - Net amount
recognized in the balance sheet (1+2+3) (360) 654 (283) 11 Amount recognized in Assets (Note 18a) 66 654 - 720 Amount recognized in Liabilities (Note 18b) (426) - (283) (709) 12/31/2018 Other post- BD and CV Plans CD Plans employment Total benefits
1 - Net assets of the plans 18,808 1,604 - 20,412 2 - Actuarial liabilities (15,493) - (282) (15,775) (*) 3 - Asset restriction (3,664) ( 939) - (4,603) 4 - Net amount recognized in the balance sheet (1+2+3) (349) 665 (282) 34 Amount recognized in
Assets (Note 18a) 66 665 - 731 (415) - Amount recognized in Liabilities (Note 18b) (282) (697) (*) Corresponds to the excess of the present value of the available economic benefit, in conformity with paragraph 58 of IAS 19. f) Change in the net
amount recognized in the balance sheet 03/31/2019 Ohter post- BD and CV plans CD plans employment Total benefit Actuarial Recognized Pension plan Asset Recognized Recognized Net assets Asset ceiling Liabilities liabilities amount fund ceiling amount
amount 18,808 (15,493) (3,664) (349) 1,604 (939) 665 Amounts at the beginning of the period (282) 34 442 (379) (89) (26) 38 (23) 15 Amounts recognized in income (loss) (1+2+3) (6) (17) 1 - Cost of current service - (19) - (19) - - - (19) 2 - Cost of
past service - - - - - - - - (1) 442 (360) (89) (7) 38 (23) 15 3 - Net interest (6) 2 Amounts recognized in stockholders´ equity (4+5+6) (2) (7) 5 (4) 1 - 1 - (3) - - 5 5 - - - 4 - Effects on asset ceiling - 5 (2) (3) - (9) - (9) 1 - 1 - (8) 5
- Remeasurements 6 - Exchange variation (2) 2 - - - - - - - (275) 294 - 19 (27) - (27) Other (7+8+9+10) 5 (3) - - - - - - - - - 7 - Receipt by allocation of funds (294) 294 - - - - - 5 5 8 - Benefits paid 17 - - 17 (27) - (27) 9 - Contributions from
sponsor - (10) 2 - - 2 - - - - 2 10 - Contributions from parcipants 18,973 (15,585) (3,748) (360) 1,616 (962) 654 (283) 11 Amounts end of the period 12/31/2018 Ohter post- BD and CV plans CD plans employment Total benefit Actuarial Recognized
Pension plan Asset Recognized Recognized Net assets Asset ceiling Liabilities liabilities amount fund ceiling amount amount Amounts at the beginning of the period 17,588 (14,491) (3,217) (120) 1,634 (912) 722 (257) 345 1,700 (1,454) (321) (75) 157
(90) 67 (25) (33) Amounts recognized in income (loss) (1+2+3) - (69) - (69) - - - - (69) 1 - Cost of current service 2 - Cost of past service - - - - - - - - - (1) 1,700 (1,385) (321) (6) 157 (90) 67 (25) 36 3 - Net interest Amounts recognized in
stockholders´ equity (4+5+6) 580 (688) (126) (234) (102) 63 (39) (19) (292) - - (126) (126) - 63 63 - (63) 4 - Effects on asset ceiling (2) (3) 566 (683) - (117) (102) - (102) (19) (238) 5 - Remeasurements 6 - Exchange variation 14 (5) - 9 - -
- - 9 Other (7+8+9+10) (1,060) 1,140 - 80 (85) - (85) 19 14 - - - - - - - - - 7 - Receipt by allocation of funds (1,140) 1,140 - - - - - 8 - Benefits paid 19 19 9 - Contributions from sponsor 69 - - 69 (85) - (85) - (16) 11 - - 11 - - - - 11 10 -
Contributions from parcipants 18,808 (15,493) (3,664) (349) 1,604 (939) 665 (282) 34 Amounts end of the period (1) Corresponds to the amount calculated at 01/01/2019 based on the beginning amount (Net Assets, Actuarial Liabilities and Restriction of
Assets), taking into account the estimated amount of payments/ receipts of benefits/ contributions, multiplied by the discount rate of 9.72% p.a.(at 01/01/2018 the rate used was 9.98 p.a.); (2) Remeasurements recorded in net assets and asset ceiling
correspond to the income earned above/below the expected return rate; (3) The actual return on assets amounted to R$ 442 (R$ 2,266 at 12/31/2018). F-81 Itaú Unibanco Holding S.A. e) Net amount recognized in the balance sheet 03/31/2019 Other
post- BD and CV Plans CD Plans Total employment benefits 1 - Net assets of the plans 18,973 1,616 - 20,589 2 - Actuarial liabilities (15,585) - (283) (15,868) (*) 3 - Asset restriction (3,748) ( 962) - (4,710) 4 - Net amount recognized in the
balance sheet (1+2+3) (360) 654 (283) 11 Amount recognized in Assets (Note 18a) 66 654 - 720 Amount recognized in Liabilities (Note 18b) (426) - (283) (709) 12/31/2018 Other post- BD and CV Plans CD Plans employment Total benefits 1 - Net assets of
the plans 18,808 1,604 - 20,412 2 - Actuarial liabilities (15,493) - (282) (15,775) (*) 3 - Asset restriction (3,664) ( 939) - (4,603) 4 - Net amount recognized in the balance sheet (1+2+3) (349) 665 (282) 34 Amount recognized in Assets (Note 18a)
66 665 - 731 (415) - Amount recognized in Liabilities (Note 18b) (282) (697) (*) Corresponds to the excess of the present value of the available economic benefit, in conformity with paragraph 58 of IAS 19. f) Change in the net amount recognized in
the balance sheet 03/31/2019 Ohter post- BD and CV plans CD plans employment Total benefit Actuarial Recognized Pension plan Asset Recognized Recognized Net assets Asset ceiling Liabilities liabilities amount fund ceiling amount amount 18,808
(15,493) (3,664) (349) 1,604 (939) 665 Amounts at the beginning of the period (282) 34 442 (379) (89) (26) 38 (23) 15 Amounts recognized in income (loss) (1+2+3) (6) (17) 1 - Cost of current service - (19) - (19) - - - (19) 2 - Cost of past service
- - - - - - - - (1) 442 (360) (89) (7) 38 (23) 15 3 - Net interest (6) 2 Amounts recognized in stockholders´ equity (4+5+6) (2) (7) 5 (4) 1 - 1 - (3) - - 5 5 - - - 4 - Effects on asset ceiling - 5 (2) (3) - (9) - (9) 1 - 1 - (8) 5 -
Remeasurements 6 - Exchange variation (2) 2 - - - - - - - (275) 294 - 19 (27) - (27) Other (7+8+9+10) 5 (3) - - - - - - - - - 7 - Receipt by allocation of funds (294) 294 - - - - - 5 5 8 - Benefits paid 17 - - 17 (27) - (27) 9 - Contributions from
sponsor - (10) 2 - - 2 - - - - 2 10 - Contributions from parcipants 18,973 (15,585) (3,748) (360) 1,616 (962) 654 (283) 11 Amounts end of the period 12/31/2018 Ohter post- BD and CV plans CD plans employment Total benefit Actuarial Recognized
Pension plan Asset Recognized Recognized Net assets Asset ceiling Liabilities liabilities amount fund ceiling amount amount Amounts at the beginning of the period 17,588 (14,491) (3,217) (120) 1,634 (912) 722 (257) 345 1,700 (1,454) (321) (75) 157
(90) 67 (25) (33) Amounts recognized in income (loss) (1+2+3) - (69) - (69) - - - - (69) 1 - Cost of current service 2 - Cost of past service - - - - - - - - - (1) 1,700 (1,385) (321) (6) 157 (90) 67 (25) 36 3 - Net interest Amounts recognized in
stockholders´ equity (4+5+6) 580 (688) (126) (234) (102) 63 (39) (19) (292) - - (126) (126) - 63 63 - (63) 4 - Effects on asset ceiling (2) (3) 566 (683) - (117) (102) - (102) (19) (238) 5 - Remeasurements 6 - Exchange variation 14 (5) - 9 - -
- - 9 Other (7+8+9+10) (1,060) 1,140 - 80 (85) - (85) 19 14 - - - - - - - - - 7 - Receipt by allocation of funds (1,140) 1,140 - - - - - 8 - Benefits paid 19 19 9 - Contributions from sponsor 69 - - 69 (85) - (85) - (16) 11 - - 11 - - - - 11 10 -
Contributions from parcipants 18,808 (15,493) (3,664) (349) 1,604 (939) 665 (282) 34 Amounts end of the period (1) Corresponds to the amount calculated at 01/01/2019 based on the beginning amount (Net Assets, Actuarial Liabilities and Restriction of
Assets), taking into account the estimated amount of payments/ receipts of benefits/ contributions, multiplied by the discount rate of 9.72% p.a.(at 01/01/2018 the rate used was 9.98 p.a.); (2) Remeasurements recorded in net assets and asset ceiling
correspond to the income earned above/below the expected return rate; (3) The actual return on assets amounted to R$ 442 (R$ 2,266 at 12/31/2018). F-81
Itaú Unibanco Holding S.A. g) Defined benefit contribution Estimated
Contributions made contribution 01/01 to 01/01 to 2019 03/31/2019 03/31/2018 Pension plan - FIU 47 14 58 Pension plan - FUNBEP 10 3 11 Total 57 17 69 h) Maturity profile of defined benefit liabilities (*) Duration 2019 2020 2021 2022 2023 2024 to
2028 Pension plan - FIU 10.88 799 824 859 894 929 5,184 Pension plan - FUNBEP 10.09 370 387 404 420 435 2,362 Other post-employment benefits 12.02 17 18 19 20 21 127 Total 1,186 1,229 1,282 1,334 1,385 7,673 (*) Average duration of plan´s
actuarial liabilities. i) Sensitivity analysis To measure the effects of changes in the key assumptions, sensitivity tests were conducted in actuarial liabilities. The sensitivity analysis considers a vision of the impacts caused by changes in
assumptions, which could affect the income for the period and stockholders’ equity at the balance sheet date. This type of analysis is usually carried out under the ceteris paribus condition, in which the sensitivity of a system is measured
when only one variable of interest is changed and all the others remain unchanged. The results obtained are shown in the table below: BD and CV pension plans Other post-employment benefits Present Stockholders´ Stockholders´ Present value
Main assumptions Income value of Income (*) (*) of liability equity equity liability Interest rate Increase by 0,5% (718) - 76 (15) - (15) Decrease by 0,5% 782 - (250) 17 - 17 Mortality rate Increase by 5% (160) - 45 (6) - (6) Decrease by 5% 167 -
(48) 7 - 7 Medical inflation Increase by 1% - - - 33 - 33 Decrease by 1% - - - (28) - (28) (*) Net of effects of asset ceiling F-82 Itaú Unibanco Holding S.A. g) Defined benefit contribution Estimated Contributions made contribution 01/01 to
01/01 to 2019 03/31/2019 03/31/2018 Pension plan - FIU 47 14 58 Pension plan - FUNBEP 10 3 11 Total 57 17 69 h) Maturity profile of defined benefit liabilities (*) Duration 2019 2020 2021 2022 2023 2024 to 2028 Pension plan - FIU 10.88 799 824 859
894 929 5,184 Pension plan - FUNBEP 10.09 370 387 404 420 435 2,362 Other post-employment benefits 12.02 17 18 19 20 21 127 Total 1,186 1,229 1,282 1,334 1,385 7,673 (*) Average duration of plan´s actuarial liabilities. i) Sensitivity analysis
To measure the effects of changes in the key assumptions, sensitivity tests were conducted in actuarial liabilities. The sensitivity analysis considers a vision of the impacts caused by changes in assumptions, which could affect the income for the
period and stockholders’ equity at the balance sheet date. This type of analysis is usually carried out under the ceteris paribus condition, in which the sensitivity of a system is measured when only one variable of interest is changed and all
the others remain unchanged. The results obtained are shown in the table below: BD and CV pension plans Other post-employment benefits Present Stockholders´ Stockholders´ Present value Main assumptions Income value of Income (*) (*) of
liability equity equity liability Interest rate Increase by 0,5% (718) - 76 (15) - (15) Decrease by 0,5% 782 - (250) 17 - 17 Mortality rate Increase by 5% (160) - 45 (6) - (6) Decrease by 5% 167 - (48) 7 - 7 Medical inflation Increase by 1% - - - 33
- 33 Decrease by 1% - - - (28) - (28) (*) Net of effects of asset ceiling F-82
Itaú Unibanco Holding S.A. Note 27 – Insurance contracts and
private pension ITAÚ UNIBANCO HOLDING, through its subsidiaries, offers to the market insurance and private pension products, with the purpose of assuming risks and restoring the economic balance of insured’s equity affected. Products are
offered through insurance brokers (third parties operating in the market and their own), Itaú Unibanco’s electronic channels and branches, in compliance with regulatory requirements, issued by the National Council of Private Insurance
– CNSP and by the Superintendence of Private Insurance - SUSEP. I – Insurance Contract entered between the parties to protect the client’s goods, that, upon payment of a premium, is protected by means of replacement or
pre-established financial compensation, against damages that may cause property or personal destabilization. ITAÚ UNIBANCO HOLDING insurance companies then recognize technical reserves, through specialized areas within the conglomerate, with
the objective of indemnifying the policyholder's loss in the event of claims of insured risks. The insurance risks sold by insurance companies of ITAÚ UNIBANCO HOLDING are divided into property and casualty, that covers losses, damages or
liabilities for assets or persons, and life insurance that includes coverage for death and personal accidents. II – Private pension Developed to ensure the maintenance of the quality of life of participants, as a supplement to the government
plans, through long term investments, private pension products are divided into three major groups: · PGBL - Plan Generator of Benefits: The main objective of this plan is the accumulation of financial resources, but it can be purchased with
additional risk coverage. Recommended for clients that file the full version of income tax return, because they can deduct contributions paid for tax purposes up to 12% of the annual taxable gross income. · VGBL - Redeemable Life Insurance:
This is an insurance structured as a pension plan. Its taxation differs from the PGBL; in this case, the tax basis is the earned income. · FGB - Fund Generator of Benefits: This is a pension plan with minimum income guarantee, and possibility
of receiving earnings from asset performance. Although there are plans still in existence, they are no longer sold. III – Technical reserves for insurance and private pension The technical provisions of insurance and private pension are
recognized according to the technical notes approved by SUSEP and criteria established by current legislation, as follows: · Provision for unearned premiums (PPNG) - this provision is recognized, based on insurance premiums, for the coverage of
amounts payable related to claims and expenses to be incurred. In the calculation, term to maturity of risks assumed and issued and risks in effect but not issued (PPNG-RVNE) in the policies or endorsements of contracts in force are considered , on
a pro rata-die basis; · Provision for unsettled claims (PSL) - this provision is recognized for the coverage of expected amounts related reported and unpaid claims, including administrative and judicial claims. It includes amounts related to
indemnities, reserve funds and income past-due, all gross of reinsurance operations and net of coinsurance operations. When required, it should contemplate IBNER (claims incurred but not sufficiently reported) adjustments for the aggregate
development of claims reported but not paid, which mounts may be changed throughout the process up to final settlement; F-83 Itaú Unibanco Holding S.A. Note 27 – Insurance contracts and private pension ITAÚ UNIBANCO HOLDING, through
its subsidiaries, offers to the market insurance and private pension products, with the purpose of assuming risks and restoring the economic balance of insured’s equity affected. Products are offered through insurance brokers (third parties
operating in the market and their own), Itaú Unibanco’s electronic channels and branches, in compliance with regulatory requirements, issued by the National Council of Private Insurance – CNSP and by the Superintendence of Private
Insurance - SUSEP. I – Insurance Contract entered between the parties to protect the client’s goods, that, upon payment of a premium, is protected by means of replacement or pre-established financial compensation, against damages that
may cause property or personal destabilization. ITAÚ UNIBANCO HOLDING insurance companies then recognize technical reserves, through specialized areas within the conglomerate, with the objective of indemnifying the policyholder's loss in the
event of claims of insured risks. The insurance risks sold by insurance companies of ITAÚ UNIBANCO HOLDING are divided into property and casualty, that covers losses, damages or liabilities for assets or persons, and life insurance that
includes coverage for death and personal accidents. II – Private pension Developed to ensure the maintenance of the quality of life of participants, as a supplement to the government plans, through long term investments, private pension
products are divided into three major groups: · PGBL - Plan Generator of Benefits: The main objective of this plan is the accumulation of financial resources, but it can be purchased with additional risk coverage. Recommended for clients that
file the full version of income tax return, because they can deduct contributions paid for tax purposes up to 12% of the annual taxable gross income. · VGBL - Redeemable Life Insurance: This is an insurance structured as a pension plan. Its
taxation differs from the PGBL; in this case, the tax basis is the earned income. · FGB - Fund Generator of Benefits: This is a pension plan with minimum income guarantee, and possibility of receiving earnings from asset performance. Although
there are plans still in existence, they are no longer sold. III – Technical reserves for insurance and private pension The technical provisions of insurance and private pension are recognized according to the technical notes approved by SUSEP
and criteria established by current legislation, as follows: · Provision for unearned premiums (PPNG) - this provision is recognized, based on insurance premiums, for the coverage of amounts payable related to claims and expenses to be
incurred. In the calculation, term to maturity of risks assumed and issued and risks in effect but not issued (PPNG-RVNE) in the policies or endorsements of contracts in force are considered , on a pro rata-die basis; · Provision for unsettled
claims (PSL) - this provision is recognized for the coverage of expected amounts related reported and unpaid claims, including administrative and judicial claims. It includes amounts related to indemnities, reserve funds and income past-due, all
gross of reinsurance operations and net of coinsurance operations. When required, it should contemplate IBNER (claims incurred but not sufficiently reported) adjustments for the aggregate development of claims reported but not paid, which mounts may
be changed throughout the process up to final settlement; F-83
Itaú Unibanco Holding S.A. · Provision for claims incurred and
not reported (IBNR) - this provision is recognized for the coverage of expected unsettled amounts related to claims incurred but not reported up to the calculation base date, including administrative and judicial claims. It includes amounts related
to indemnities, reserve funds and income, all gross of reinsurance operations and net of coinsurance operations; · Mathematical provisions for benefits to be granted (PMBAC) - recognized for the coverage of commitments assumed to participants
or policyholders, based on the assumptions set forth in the contract, while the event that gave rise to the benefit and/or indemnity has not occurred; · Mathematical provisions for granted benefits (PMBC) - recognized for the coverage of
commitments to payment of indemnities and/or benefits assumed with participants or insured parties, based on the assumptions established in the agreement, after the event has occurred. · Provision for financial surplus (PEF) - it is recognized
to ensure the amounts intended for distribution of financial surplus, if the event is stated in the agreement. Corresponds to the financial income exceeding the minimum return guaranteed in the product; · Supplemental Coverage Reserve (PCC) -
recognized when technical reserves are found to be insufficient, as shown by the Liability Adequacy Test, which follows specific provisions in the prevailing regulation; · Provision for redemptions and other amounts to be regularize (PVR) -
this provision is recognized for the coverage of amounts related to redemptions to regularize, returns on premiums or funds, transfers requested but, for any reason, not yet transferred to the insurance company or open private pension entity
beneficiary, and where premiums have been received but not quoted; · Provision for related expenses (PDR) - recognized for the coverage of expected amounts related to expenses on benefits and indemnities, due to events which have occurred and
will occur. IV - Main information related to Insurance and Private Pension operations a) Indexes Sales ratio Loss ratio % % Main Insurance Lines 01/01 to 01/01 to 01/01 to 01/01 to 03/31/2019 03/31/2018 03/31/2019 03/31/2018 Group accident insurance
35.4 34.3 7.4 7.2 Individual accident 18.0 11.7 20.4 17.4 Commercial multiple peril 21.2 21.1 35.8 36.9 Internal credit 0.6 0.8 69.7 155.5 Serious or terminal diseases 25.3 10.9 22.1 16.4 Extended warranty - assets 62.3 62.1 (3.0) 13.2 Credit Life
23.1 18.4 18.6 15.2 Income from Uncertain Events 23.8 18.2 22.2 19.6 Multiple risks 47.0 49.8 59.8 49.6 Home insurance in market policies – Credit Life 20.0 20.4 14.3 13.9 Group life 21.9 11.4 33.3 29.5 F-84 Itaú Unibanco Holding S.A.
· Provision for claims incurred and not reported (IBNR) - this provision is recognized for the coverage of expected unsettled amounts related to claims incurred but not reported up to the calculation base date, including administrative and
judicial claims. It includes amounts related to indemnities, reserve funds and income, all gross of reinsurance operations and net of coinsurance operations; · Mathematical provisions for benefits to be granted (PMBAC) - recognized for the
coverage of commitments assumed to participants or policyholders, based on the assumptions set forth in the contract, while the event that gave rise to the benefit and/or indemnity has not occurred; · Mathematical provisions for granted
benefits (PMBC) - recognized for the coverage of commitments to payment of indemnities and/or benefits assumed with participants or insured parties, based on the assumptions established in the agreement, after the event has occurred. ·
Provision for financial surplus (PEF) - it is recognized to ensure the amounts intended for distribution of financial surplus, if the event is stated in the agreement. Corresponds to the financial income exceeding the minimum return guaranteed in
the product; · Supplemental Coverage Reserve (PCC) - recognized when technical reserves are found to be insufficient, as shown by the Liability Adequacy Test, which follows specific provisions in the prevailing regulation; · Provision for
redemptions and other amounts to be regularize (PVR) - this provision is recognized for the coverage of amounts related to redemptions to regularize, returns on premiums or funds, transfers requested but, for any reason, not yet transferred to the
insurance company or open private pension entity beneficiary, and where premiums have been received but not quoted; · Provision for related expenses (PDR) - recognized for the coverage of expected amounts related to expenses on benefits and
indemnities, due to events which have occurred and will occur. IV - Main information related to Insurance and Private Pension operations a) Indexes Sales ratio Loss ratio % % Main Insurance Lines 01/01 to 01/01 to 01/01 to 01/01 to 03/31/2019
03/31/2018 03/31/2019 03/31/2018 Group accident insurance 35.4 34.3 7.4 7.2 Individual accident 18.0 11.7 20.4 17.4 Commercial multiple peril 21.2 21.1 35.8 36.9 Internal credit 0.6 0.8 69.7 155.5 Serious or terminal diseases 25.3 10.9 22.1 16.4
Extended warranty - assets 62.3 62.1 (3.0) 13.2 Credit Life 23.1 18.4 18.6 15.2 Income from Uncertain Events 23.8 18.2 22.2 19.6 Multiple risks 47.0 49.8 59.8 49.6 Home insurance in market policies – Credit Life 20.0 20.4 14.3 13.9 Group life
21.9 11.4 33.3 29.5 F-84
Itaú Unibanco Holding S.A. b) Income related to insurance and
private pension Premiums and contributions Main lines 01/01 to 01/01 to 03/31/2019 03/31/2018 Group accident insurance 181 150 Individual accident 58 78 Commercial multiple peril 12 13 Internal Credit 25 13 Serious or terminal diseases 48 41
Disability Savings Pension 66 76 PGBL 507 494 Credit Life 240 210 Income from Uncertain Events 68 - Multiple risks 65 41 Home Insurance in Market Policies – Credit Life 76 66 Traditional 24 26 VGBL 2,798 4,444 Group life 228 231 Other lines
115 172 Total 4,511 6,055 F-85 Itaú Unibanco Holding S.A. b) Income related to insurance and private pension Premiums and contributions Main lines 01/01 to 01/01 to 03/31/2019 03/31/2018 Group accident insurance 181 150 Individual accident 58
78 Commercial multiple peril 12 13 Internal Credit 25 13 Serious or terminal diseases 48 41 Disability Savings Pension 66 76 PGBL 507 494 Credit Life 240 210 Income from Uncertain Events 68 - Multiple risks 65 41 Home Insurance in Market Policies
– Credit Life 76 66 Traditional 24 26 VGBL 2,798 4,444 Group life 228 231 Other lines 115 172 Total 4,511 6,055 F-85
Itaú Unibanco Holding S.A. c) Technical provisions balances
Insurance Private Pension Total 03/31/2019 12/31/2018 03/31/2019 12/31/2018 03/31/2019 12/31/2018 Unearned premiums (PPNG) 2,170 2,111 12 13 2,182 2,124 Mathematical reserve for benefits to be granted (PMBAC) and benefits granted (PMBC) 199 195
198,972 195,348 199,171 195,543 Redemptions and Other Unsettled Amounts (PVR) 12 12 451 298 463 310 Financial surplus (PEF) 2 2 596 605 598 607 Unsettled claims (PSL) 530 548 45 43 575 591 Claims / events incurred but not reported (IBNR) 377 348 25
25 402 373 Related Expenses (PDR) 31 31 100 98 131 129 Other 562 562 957 948 1,519 1,510 Total 3,883 3,809 201,158 197,378 205,041 201,187 d) Change in technical provisions 03/31/2019 12/31/2018 Private Private Insurance Total Insurance Total
pension pension Opening balance 3,809 197,378 201,187 3,464 177,768 181,232 (+) Additions arising from premiums / contribution 1,123 3,396 4,519 4,340 19,764 24,104 (-) Risk adjustments (884) (69) (953) (3,937) (297) (4,234) (-) Payment of claims /
benefits (331) (141) (472) (1,184) (580) (1,764) (+) Reported claims 376 - 376 1,325 - 1,325 (-) Redemptions - (4,081) (4,081) (1) (13,771) (13,772) (+/-) Portability of insurances - 605 605 - 3,758 3,758 (+) Adjustment of reserves and financial
surplus 2 3,862 3,864 9 11,622 11,631 (+/-) Other (recognition / reversal) (212) 208 (4) (207) (886) (1,093) Closing balance 3,883 201,158 205,041 3,809 197,378 201,187 Through actuarial models based mainly on the portfolio historical experience and
on macroeconomic projections, ITAÚ UNIBANCO HOLDING establishes the assumptions that influence the assessment of technical provisions. The assumptions are reassessed annually by experts of the actuarial and risk area, and are subsequently
submitted to the executive’s approval. The effects on assumptions are recognized in income for the period in which they occurred. F-86 Itaú Unibanco Holding S.A. c) Technical provisions balances Insurance Private Pension Total 03/31/2019
12/31/2018 03/31/2019 12/31/2018 03/31/2019 12/31/2018 Unearned premiums (PPNG) 2,170 2,111 12 13 2,182 2,124 Mathematical reserve for benefits to be granted (PMBAC) and benefits granted (PMBC) 199 195 198,972 195,348 199,171 195,543 Redemptions and
Other Unsettled Amounts (PVR) 12 12 451 298 463 310 Financial surplus (PEF) 2 2 596 605 598 607 Unsettled claims (PSL) 530 548 45 43 575 591 Claims / events incurred but not reported (IBNR) 377 348 25 25 402 373 Related Expenses (PDR) 31 31 100 98
131 129 Other 562 562 957 948 1,519 1,510 Total 3,883 3,809 201,158 197,378 205,041 201,187 d) Change in technical provisions 03/31/2019 12/31/2018 Private Private Insurance Total Insurance Total pension pension Opening balance 3,809 197,378 201,187
3,464 177,768 181,232 (+) Additions arising from premiums / contribution 1,123 3,396 4,519 4,340 19,764 24,104 (-) Risk adjustments (884) (69) (953) (3,937) (297) (4,234) (-) Payment of claims / benefits (331) (141) (472) (1,184) (580) (1,764) (+)
Reported claims 376 - 376 1,325 - 1,325 (-) Redemptions - (4,081) (4,081) (1) (13,771) (13,772) (+/-) Portability of insurances - 605 605 - 3,758 3,758 (+) Adjustment of reserves and financial surplus 2 3,862 3,864 9 11,622 11,631 (+/-) Other
(recognition / reversal) (212) 208 (4) (207) (886) (1,093) Closing balance 3,883 201,158 205,041 3,809 197,378 201,187 Through actuarial models based mainly on the portfolio historical experience and on macroeconomic projections, ITAÚ UNIBANCO
HOLDING establishes the assumptions that influence the assessment of technical provisions. The assumptions are reassessed annually by experts of the actuarial and risk area, and are subsequently submitted to the executive’s approval. The
effects on assumptions are recognized in income for the period in which they occurred. F-86
Itaú Unibanco Holding S.A. V - Deferred acquisition costs They are
recorded in assets and charges are shown in the table below: 03/31/2019 12/31/2018 Opening Balance 409 253 Increase 278 1,001 Amortization (251) (845) Closening Balance 436 409 Balance to be amortized in up to 12 months 351 334 Balance to be
amortized after 12 months 85 75 VI - Table of Claims Development The amounts shown in the tables express the position at 12/31/2018, since the actuarial calculations are made semi-annually: (*) Provision for unsettled claims (PSL) 591 (-) IBNER 170
(-) Reinsurance 35 (-) Retrocession and other estimates (25) Liability claims presented in the development table (a + b) 411 (*) It stated in Note 27lV c at 12/31/2018. Changes in the amount of obligations of the ITAÚ UNIBANCO HOLDING may occur
at the end of each annual reporting period. The table below shows the development by the claims incurred method. The first part of the table shows how the final loss estimate changes through time. The second part of the table reconciles the amounts
pending payment and the liability disclosed in the balance sheet. a) Administratives claims Occurrence date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 Total At the end of reporting period 910 1,009 938 934 992 After 1 year 935 1,054 981
977 After 2 years 958 1,082 1,001 After 3 years 964 1,091 After 4 years 967 Current estimate 967 1,091 1,001 977 992 Accumulated payments through base date 962 1,078 978 956 815 4,789 Liabilities recognized in the balance sheet 5 13 23 21 178 240
Liabilities in relation to prior periods 12 Total administratives claims 252 b) Judicial claims Occurrence date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 Total At the end of reporting period 27 30 26 28 16 After 1 year 37 41 35 40 After
2 years 46 52 43 After 3 years 54 64 After 4 years 60 Current estimate 60 64 43 40 16 Accumulated payments through base date 45 49 34 30 10 168 Liabilities recognized in the balance sheet 15 15 10 10 5 55 Liabilities in relation to prior periods 104
159 Total judicial claims The breakdown of the table development of claims between administrative and legal evidences the reallocation of claims up to a certain base date and that become legal ones afterwards, which may give the wrong impression of
need for adjusting the provisions in each breakdown. F-87 Itaú Unibanco Holding S.A. V - Deferred acquisition costs They are recorded in assets and charges are shown in the table below: 03/31/2019 12/31/2018 Opening Balance 409 253 Increase 278
1,001 Amortization (251) (845) Closening Balance 436 409 Balance to be amortized in up to 12 months 351 334 Balance to be amortized after 12 months 85 75 VI - Table of Claims Development The amounts shown in the tables express the position at
12/31/2018, since the actuarial calculations are made semi-annually: (*) Provision for unsettled claims (PSL) 591 (-) IBNER 170 (-) Reinsurance 35 (-) Retrocession and other estimates (25) Liability claims presented in the development table (a + b)
411 (*) It stated in Note 27lV c at 12/31/2018. Changes in the amount of obligations of the ITAÚ UNIBANCO HOLDING may occur at the end of each annual reporting period. The table below shows the development by the claims incurred method. The
first part of the table shows how the final loss estimate changes through time. The second part of the table reconciles the amounts pending payment and the liability disclosed in the balance sheet. a) Administratives claims Occurrence date
12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 Total At the end of reporting period 910 1,009 938 934 992 After 1 year 935 1,054 981 977 After 2 years 958 1,082 1,001 After 3 years 964 1,091 After 4 years 967 Current estimate 967 1,091 1,001
977 992 Accumulated payments through base date 962 1,078 978 956 815 4,789 Liabilities recognized in the balance sheet 5 13 23 21 178 240 Liabilities in relation to prior periods 12 Total administratives claims 252 b) Judicial claims Occurrence date
12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 Total At the end of reporting period 27 30 26 28 16 After 1 year 37 41 35 40 After 2 years 46 52 43 After 3 years 54 64 After 4 years 60 Current estimate 60 64 43 40 16 Accumulated payments
through base date 45 49 34 30 10 168 Liabilities recognized in the balance sheet 15 15 10 10 5 55 Liabilities in relation to prior periods 104 159 Total judicial claims The breakdown of the table development of claims between administrative and
legal evidences the reallocation of claims up to a certain base date and that become legal ones afterwards, which may give the wrong impression of need for adjusting the provisions in each breakdown. F-87
Itaú Unibanco Holding S.A. VII - Liability Adequacy Test The
ITAÚ UNIBANCO HOLDING carry out the Liability Adequacy Test, comparing the amount recognized for its technical reserves with the current estimate of cash flow of its future obligations. The estimate should consider all cash flows related to the
business, which is the minimum requirement for carrying out the adequacy test. The Liability Adequacy Test did not indicate significant insufficiency in the reporting periods 2018 and 2017. The assumptions used in the test are periodically reviewed
and are based on the best practices and the analysis of subsidiaries’ experience, therefore representing the best estimates for cash flow projections. Methodology and test grouping Specifically for insurance products, cash flows were projected
using the method known as run-off triangle of quarterly frequency. For social security products, cash flows for the deferral and assignment phases are tested on a separate basis. The risk grouping criterion considers groups subject to similar risks
that are jointly managed as a single portfolio. Biometric tables Biometric tables are instruments to measure the biometric risk represented by the probability of death, survival or disability of a participant. For death and survival estimates, the
Brazilian Market Insurer Experience (BR-EMS) tables in effect are used, adjusted according to life expectancy development of Scale G, and the Álvaro Vindas table is adopted to estimate benefit requests for disability. Risk-free interest rate
The relevant risk-free forward interest-rate structure is an indicator of the pure time value of money used to price the set of projected cash flows. The relevant structure of risk-free interest rate was obtained from the curve of securities deemed
to be credit risk free, available in the Brazilian financial market and determined pursuant to an internal policy of ITAÚ UNIBANCO HOLDING, considering the addition of spread, which took into account the impact of the market result of Financial
assets at amortized cost of the guarantee assets portfolio. Income conversion rate The income conversion rate represents the expected conversion of balances accumulated by participants in retirement benefits. The decision of conversion into income
by participants is influenced by behavioral, economic and tax factors. Other assumptions Related expenses, cancellations and partial redemptions, future increases and contributions, among others, are assumptions that affect the estimate of projected
cash flows since they represent expenses and income arising from insurance agreements assumed. F-88 Itaú Unibanco Holding S.A. VII - Liability Adequacy Test The ITAÚ UNIBANCO HOLDING carry out the Liability Adequacy Test, comparing the
amount recognized for its technical reserves with the current estimate of cash flow of its future obligations. The estimate should consider all cash flows related to the business, which is the minimum requirement for carrying out the adequacy test.
The Liability Adequacy Test did not indicate significant insufficiency in the reporting periods 2018 and 2017. The assumptions used in the test are periodically reviewed and are based on the best practices and the analysis of subsidiaries’
experience, therefore representing the best estimates for cash flow projections. Methodology and test grouping Specifically for insurance products, cash flows were projected using the method known as run-off triangle of quarterly frequency. For
social security products, cash flows for the deferral and assignment phases are tested on a separate basis. The risk grouping criterion considers groups subject to similar risks that are jointly managed as a single portfolio. Biometric tables
Biometric tables are instruments to measure the biometric risk represented by the probability of death, survival or disability of a participant. For death and survival estimates, the Brazilian Market Insurer Experience (BR-EMS) tables in effect are
used, adjusted according to life expectancy development of Scale G, and the Álvaro Vindas table is adopted to estimate benefit requests for disability. Risk-free interest rate The relevant risk-free forward interest-rate structure is an
indicator of the pure time value of money used to price the set of projected cash flows. The relevant structure of risk-free interest rate was obtained from the curve of securities deemed to be credit risk free, available in the Brazilian financial
market and determined pursuant to an internal policy of ITAÚ UNIBANCO HOLDING, considering the addition of spread, which took into account the impact of the market result of Financial assets at amortized cost of the guarantee assets portfolio.
Income conversion rate The income conversion rate represents the expected conversion of balances accumulated by participants in retirement benefits. The decision of conversion into income by participants is influenced by behavioral, economic and tax
factors. Other assumptions Related expenses, cancellations and partial redemptions, future increases and contributions, among others, are assumptions that affect the estimate of projected cash flows since they represent expenses and income arising
from insurance agreements assumed. F-88
Itaú Unibanco Holding S.A. Note 28 – Fair value of financial
instruments In cases where market prices are not available, fair values are based on estimates using discounted cash flows or other valuation techniques. These techniques are significantly affected by the assumptions adopted, including the discount
rate and estimate of future cash flows. The estimated fair value achieved through these techniques cannot be substantiated by comparison with independent markets and, in many cases, it cannot be realized in the immediate settlement of the
instrument. The following table summarizes the carrying and estimated fair values for financial instruments: 03/31/2019 12/31/2018 Estimated Estimated fair Carrying value Carrying value fair value value Cash deposits on demand (a) 30,376 30,376
37,159 37,159 Financial assets 1,419,133 1,429,458 1,424,876 1,433,116 Central Bank compulsory deposits (a) 91,278 91,278 94,148 94,148 At Amortized Cost 990,063 1,000,388 994,759 1,002,999 Interbank deposits (b) 26,325 26,336 26,420 26,510
Securities purchased under agreements to resell (a) 259,595 259,595 280,136 280,136 Securities (c) 113,924 116,073 110,395 112,171 Loan operations and lease operations portfolio (d) 547,172 555,337 536,091 542,465 Other financial assets (e) 76,333
76,333 75,090 75,090 (-) Provision for Expected Loss ( 33,286) (33,286) (33,373) (33,373) At Fair Value Through Other Comprehensive Income 51,611 51,611 49,323 49,323 Securities (c) 51,611 51,611 49,323 49,323 At Fair Value Through Profit or Loss
286,181 286,181 286,646 286,646 Securities (c) 262,097 262,097 263,180 263,180 Derivatives (c) 24,084 24,084 23,466 23,466 Financial liabilities 1,147,615 1,146,367 1,151,237 1,150,700 At Amortized Cost 1,115,757 1,114,509 1,119,734 1,119,197
Deposits (b) 461,487 461,444 463,424 463,363 Securities sold under repurchase agreements (a) 313,808 313,808 330,237 330,237 Interbank market debt (b) 139,561 139,474 134,670 134,533 Institutional market debt (b) 99,663 98,545 93,974 93,635 Other
financial liabilities (e) 101,238 101,238 97,429 97,429 At Fair Value Through Profit or Loss 27,980 27,980 27,711 27,711 Derivatives (c) 27,796 27,796 27,519 27,519 Structured notes 184 184 192 192 Provision for Expected Loss 3,878 3,878 3,792 3,792
Loan Commitments 2,670 2,670 2,601 2,601 Financial Guarantees 1,208 1,208 1,191 1,191 Financial instruments not included in the Balance Sheet (Note 32) are represented by Standby letters of credit and financial guarantees provided, which amount to
R$ 78,042 (R$ 76,852 at 12/31/2018) with an estimated fair value of R$ 1,118 (R$ 1,168 at 12/31/2018). F-89 Itaú Unibanco Holding S.A. Note 28 – Fair value of financial instruments In cases where market prices are not available, fair
values are based on estimates using discounted cash flows or other valuation techniques. These techniques are significantly affected by the assumptions adopted, including the discount rate and estimate of future cash flows. The estimated fair value
achieved through these techniques cannot be substantiated by comparison with independent markets and, in many cases, it cannot be realized in the immediate settlement of the instrument. The following table summarizes the carrying and estimated fair
values for financial instruments: 03/31/2019 12/31/2018 Estimated Estimated fair Carrying value Carrying value fair value value Cash deposits on demand (a) 30,376 30,376 37,159 37,159 Financial assets 1,419,133 1,429,458 1,424,876 1,433,116 Central
Bank compulsory deposits (a) 91,278 91,278 94,148 94,148 At Amortized Cost 990,063 1,000,388 994,759 1,002,999 Interbank deposits (b) 26,325 26,336 26,420 26,510 Securities purchased under agreements to resell (a) 259,595 259,595 280,136 280,136
Securities (c) 113,924 116,073 110,395 112,171 Loan operations and lease operations portfolio (d) 547,172 555,337 536,091 542,465 Other financial assets (e) 76,333 76,333 75,090 75,090 (-) Provision for Expected Loss ( 33,286) (33,286) (33,373)
(33,373) At Fair Value Through Other Comprehensive Income 51,611 51,611 49,323 49,323 Securities (c) 51,611 51,611 49,323 49,323 At Fair Value Through Profit or Loss 286,181 286,181 286,646 286,646 Securities (c) 262,097 262,097 263,180 263,180
Derivatives (c) 24,084 24,084 23,466 23,466 Financial liabilities 1,147,615 1,146,367 1,151,237 1,150,700 At Amortized Cost 1,115,757 1,114,509 1,119,734 1,119,197 Deposits (b) 461,487 461,444 463,424 463,363 Securities sold under repurchase
agreements (a) 313,808 313,808 330,237 330,237 Interbank market debt (b) 139,561 139,474 134,670 134,533 Institutional market debt (b) 99,663 98,545 93,974 93,635 Other financial liabilities (e) 101,238 101,238 97,429 97,429 At Fair Value Through
Profit or Loss 27,980 27,980 27,711 27,711 Derivatives (c) 27,796 27,796 27,519 27,519 Structured notes 184 184 192 192 Provision for Expected Loss 3,878 3,878 3,792 3,792 Loan Commitments 2,670 2,670 2,601 2,601 Financial Guarantees 1,208 1,208
1,191 1,191 Financial instruments not included in the Balance Sheet (Note 32) are represented by Standby letters of credit and financial guarantees provided, which amount to R$ 78,042 (R$ 76,852 at 12/31/2018) with an estimated fair value of R$
1,118 (R$ 1,168 at 12/31/2018). F-89
Itaú Unibanco Holding S.A. The methods and assumptions adopted to
estimate the fair value are defined below: a) Cash and deposits on demand, Central Bank compulsory deposits, Securities purchased under agreements to resell, Securities sold under repurchase agreements – The carrying amounts for these
instruments approximate their fair values. b) Interbank deposits, Deposits, Interbank and Institutional Market Funds – they are calculated by discounting estimated cash flows at market interest rates. c) Securities and Derivatives - Under
usual conditions, the prices quoted in the market are the best indicators of fair values of these financial instruments. However, not all instruments have liquidity or quoted market prices and, in such cases, it is necessary to adopt present value
estimates and other techniques to establish their fair value. In the absence of the prices quoted by the Brazilian Association of Entities from Financial and Capital Markets (ANBIMA), the fair values of government securities are determined based on
the interest rates provided by brokers. The fair values of corporate debt securities are calculated by discounting estimated cash flows at market interest rates. The fair values of shares are computed based on their prices quoted in the market. The
fair values of derivative financial instruments were determined as follows: · Swaps: The cash flows are discounted to present value based on yield curves that reflect the appropriate risk factors drawn mainly based on the exchange price of
derivatives at B3, of Brazilian government securities in the secondary market or derivatives and securities traded abroad. These yield curves may be used to obtain the fair value of currency swaps, interest rate swaps and swaps based on other risk
factors (commodities, stock exchange indices, etc.). · Futures and forwards: Quotations on exchanges or criteria identical to those applied to swaps. · Options: determined based on mathematical models, such as Black & Scholes, using
data, in general from Bloomberg, of implicit volatility, interest rate yield curve and fair value of the underlying asset. Current market prices of options are used to compute the implicit volatilities. · Loans: They are inversely related to
the probability of default (PD) in a financial instrument subject to credit risk. The process of adjusting the market price of these spreads is based on the differences between the yield curves with and without credit risk. d) Loan operations and
lease operations – Fair value is estimated based on groups of loans with similar financial and risk characteristics, using valuation models. The fair value of fixed-rate loans was determined by discounting estimated cash flows, applying
current interest rates for similar loans. For the majority of loans at floating rate, the carrying amount was considered close to their fair value. The fair value of loan and lease operations not overdue was calculated by discounting the expected
payments of principal and interest through maturity. The fair value of overdue loan and lease transactions was based on the discount of estimated cash flows, using a rate proportional to the risk associated with the estimated cash flows, or on the
underlying collateral. The assumptions related to cash flows and discount rates are determined using information available in the market and the borrower’s specific information of the debtor. e) Other financial assets / liabilities –
primarily composed of receivables from credit card issuers, deposits in guarantee for contingent liabilities, provisions and legal obligations and trading and intermediation of securities. The carrying amounts for these assets/liabilities
substantially approximate their fair values, since they principally represent amounts to be received in the short term from credit card holders and to be paid to credit card acquirers, judicially required deposits (indexed to market rates) made by
ITAÚ UNIBANCO HOLDING as guarantees for lawsuits or very short-term receivables (generally with a maturity of approximately 5 (five) business days). All of these items represent assets / liabilities without significant associated market, credit
and liquidity risks. Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. An active market is a market in which transactions for the asset or liability being measured occur often
enough and with sufficient volume to provide pricing information on an ongoing basis. F-90 Itaú Unibanco Holding S.A. The methods and assumptions adopted to estimate the fair value are defined below: a) Cash and deposits on demand, Central Bank
compulsory deposits, Securities purchased under agreements to resell, Securities sold under repurchase agreements – The carrying amounts for these instruments approximate their fair values. b) Interbank deposits, Deposits, Interbank and
Institutional Market Funds – they are calculated by discounting estimated cash flows at market interest rates. c) Securities and Derivatives - Under usual conditions, the prices quoted in the market are the best indicators of fair values of
these financial instruments. However, not all instruments have liquidity or quoted market prices and, in such cases, it is necessary to adopt present value estimates and other techniques to establish their fair value. In the absence of the prices
quoted by the Brazilian Association of Entities from Financial and Capital Markets (ANBIMA), the fair values of government securities are determined based on the interest rates provided by brokers. The fair values of corporate debt securities are
calculated by discounting estimated cash flows at market interest rates. The fair values of shares are computed based on their prices quoted in the market. The fair values of derivative financial instruments were determined as follows: · Swaps:
The cash flows are discounted to present value based on yield curves that reflect the appropriate risk factors drawn mainly based on the exchange price of derivatives at B3, of Brazilian government securities in the secondary market or derivatives
and securities traded abroad. These yield curves may be used to obtain the fair value of currency swaps, interest rate swaps and swaps based on other risk factors (commodities, stock exchange indices, etc.). · Futures and forwards: Quotations
on exchanges or criteria identical to those applied to swaps. · Options: determined based on mathematical models, such as Black & Scholes, using data, in general from Bloomberg, of implicit volatility, interest rate yield curve and fair
value of the underlying asset. Current market prices of options are used to compute the implicit volatilities. · Loans: They are inversely related to the probability of default (PD) in a financial instrument subject to credit risk. The process
of adjusting the market price of these spreads is based on the differences between the yield curves with and without credit risk. d) Loan operations and lease operations – Fair value is estimated based on groups of loans with similar financial
and risk characteristics, using valuation models. The fair value of fixed-rate loans was determined by discounting estimated cash flows, applying current interest rates for similar loans. For the majority of loans at floating rate, the carrying
amount was considered close to their fair value. The fair value of loan and lease operations not overdue was calculated by discounting the expected payments of principal and interest through maturity. The fair value of overdue loan and lease
transactions was based on the discount of estimated cash flows, using a rate proportional to the risk associated with the estimated cash flows, or on the underlying collateral. The assumptions related to cash flows and discount rates are determined
using information available in the market and the borrower’s specific information of the debtor. e) Other financial assets / liabilities – primarily composed of receivables from credit card issuers, deposits in guarantee for contingent
liabilities, provisions and legal obligations and trading and intermediation of securities. The carrying amounts for these assets/liabilities substantially approximate their fair values, since they principally represent amounts to be received in the
short term from credit card holders and to be paid to credit card acquirers, judicially required deposits (indexed to market rates) made by ITAÚ UNIBANCO HOLDING as guarantees for lawsuits or very short-term receivables (generally with a
maturity of approximately 5 (five) business days). All of these items represent assets / liabilities without significant associated market, credit and liquidity risks. Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical
assets or liabilities in active markets. An active market is a market in which transactions for the asset or liability being measured occur often enough and with sufficient volume to provide pricing information on an ongoing basis. F-90
Itaú Unibanco Holding S.A. Level 2: Information that is observable
for the asset or liability either directly or indirectly. Level 2 generally includes: (i) quoted prices for similar assets or liabilities in active markets; (ii) quoted prices for identical or similar assets or liabilities in markets that are not
active, that is, markets in which there are few transactions for the asset or liability, the prices are not current, or quoted prices vary substantially either over time or among market makers, or in which little information is released publicly;
(iii) inputs other than quoted prices that are observable for the asset or liability (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, etc.); (iv) inputs that are mainly derived from or corroborated
by observable market data through correlation or by other means. Level 3: Inputs are unobservable for the asset or liability. Unobservable information shall be used to measure fair value to the extent that observable information is not available,
thus allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. Financial assets at fair value through profit or loss, including Derivatives, and at fair value through other
comprehensive income: Level 1: Highly-liquid securities with prices available in an active market and derivatives traded on stock exchanges. This classification level includes most of the Brazilian government securities, other foreign government
securities, shares and debentures traded on stock exchanges and other securities traded in an active market. Level 2: When the pricing information is not available for a specific security, the assessment is usually based on prices quoted in the
market for similar instruments, pricing information obtained for pricing services, such as Bloomberg, Reuters and brokers (only when the prices represent actual transactions) or discounted cash flows, which use information for assets actively traded
in an active market. These securities are classified into Level 2 of the fair value hierarchy and are comprised of certain Brazilian government securities, debentures, some government securities quoted in a less-liquid market in relation to those
classified into Level 1, and some share prices in investment funds. Derivatives included in Level 2 are credit default swaps, cross-currency swaps, interest rate swaps, simple options and certain forwards, since information adopted by pricing models
are immediately observable in actively quoted markets. The models used for these instruments are Black & Scholes, Garman & Kohlhagen, Monte Carlo and discounted cash flow. ITAÚ UNIBANCO HOLDING does not hold positions in alternative
investment funds or private equity funds. Level 3: When no pricing information in an active market, ITAÚ UNIBANCO HOLDING uses internally developed models, from curves generated according to the proprietary model. The Level 3 classification
includes some Brazilian government and private securities falling due after 2025 and securities that are not usually traded in an active market. Derivatives with fair values classified into Level 3 of the fair value hierarchy are composed of exotic
options, certain swaps indexed to non-observable information, and swaps with other products, such as swap with option and target flow, credit derivatives and futures of certain commodities. All aforementioned methodologies may result in a fair value
that may not be indicative of the net realizable value or future fair values. However, ITAÚ UNIBANCO HOLDING believes that all methodologies used are appropriate and consistent with the other market participants. However, the adoption of other
methodologies or assumptions different than those used to estimate fair value may result in different fair value estimates at the balance sheet date. F-91 Itaú Unibanco Holding S.A. Level 2: Information that is observable for the asset or
liability either directly or indirectly. Level 2 generally includes: (i) quoted prices for similar assets or liabilities in active markets; (ii) quoted prices for identical or similar assets or liabilities in markets that are not active, that is,
markets in which there are few transactions for the asset or liability, the prices are not current, or quoted prices vary substantially either over time or among market makers, or in which little information is released publicly; (iii) inputs other
than quoted prices that are observable for the asset or liability (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, etc.); (iv) inputs that are mainly derived from or corroborated by observable
market data through correlation or by other means. Level 3: Inputs are unobservable for the asset or liability. Unobservable information shall be used to measure fair value to the extent that observable information is not available, thus allowing
for situations in which there is little, if any, market activity for the asset or liability at the measurement date. Financial assets at fair value through profit or loss, including Derivatives, and at fair value through other comprehensive income:
Level 1: Highly-liquid securities with prices available in an active market and derivatives traded on stock exchanges. This classification level includes most of the Brazilian government securities, other foreign government securities, shares and
debentures traded on stock exchanges and other securities traded in an active market. Level 2: When the pricing information is not available for a specific security, the assessment is usually based on prices quoted in the market for similar
instruments, pricing information obtained for pricing services, such as Bloomberg, Reuters and brokers (only when the prices represent actual transactions) or discounted cash flows, which use information for assets actively traded in an active
market. These securities are classified into Level 2 of the fair value hierarchy and are comprised of certain Brazilian government securities, debentures, some government securities quoted in a less-liquid market in relation to those classified into
Level 1, and some share prices in investment funds. Derivatives included in Level 2 are credit default swaps, cross-currency swaps, interest rate swaps, simple options and certain forwards, since information adopted by pricing models are immediately
observable in actively quoted markets. The models used for these instruments are Black & Scholes, Garman & Kohlhagen, Monte Carlo and discounted cash flow. ITAÚ UNIBANCO HOLDING does not hold positions in alternative investment funds or
private equity funds. Level 3: When no pricing information in an active market, ITAÚ UNIBANCO HOLDING uses internally developed models, from curves generated according to the proprietary model. The Level 3 classification includes some Brazilian
government and private securities falling due after 2025 and securities that are not usually traded in an active market. Derivatives with fair values classified into Level 3 of the fair value hierarchy are composed of exotic options, certain swaps
indexed to non-observable information, and swaps with other products, such as swap with option and target flow, credit derivatives and futures of certain commodities. All aforementioned methodologies may result in a fair value that may not be
indicative of the net realizable value or future fair values. However, ITAÚ UNIBANCO HOLDING believes that all methodologies used are appropriate and consistent with the other market participants. However, the adoption of other methodologies or
assumptions different than those used to estimate fair value may result in different fair value estimates at the balance sheet date. F-91
Itaú Unibanco Holding S.A. Distribution by level The following table
presents the breakdown of fair value hierarchy levels. 03/31/2019 12/31/2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total 223,814 33,561 2,790 260,165 224,872 34,206 2,833 261,911 Financial assets at fair value through profit or loss
Investment funds 547 2,529 - 3,076 2,003 2,323 - 4,326 Brazilian government securities 212,011 3,335 - 215,346 213,816 3,242 - 217,058 1,866 819 - 2,685 1,517 562 - 2,079 Government securities – other countries Argentina 1,302 - - 1,302 1,129
- - 1,129 Chile 409 185 - 594 147 155 - 302 Colombia - 559 - 559 - 207 - 207 United States 117 - - 117 117 - - 117 Italy - - - - - 115 - 115 Mexico 27 - - 27 120 - - 120 Paraguay - 1 - 1 - 1 - 1 Uruguay - 74 - 74 - 84 - 84 Other 11 - - 11 4 - - 4
9,390 26,878 2,790 39,058 7,536 28,079 2,833 38,448 Corporate securities Shares 6,290 2,233 1,283 9,806 6,175 2,003 1,268 9,446 Bank deposit certificates - 784 - 784 1 968 - 969 Securitized real estate loans - - 1,345 1,345 - - 1,411 1,411
Debentures 1,813 2,947 121 4,881 168 4,707 85 4,960 Eurobonds and others 1,287 58 13 1,358 1,192 173 31 1,396 Financial credit bills - 20,463 5 20,468 - 19,719 5 19,724 Promissory notes - 370 - 370 - 435 - 435 Other - 23 23 46 - 74 33 107 34,135
17,468 8 51,611 30,680 18,643 - 49,323 Financial assets at fair value through other comprehensive income Brazilian government securities 30,842 825 - 31,667 27,038 801 - 27,839 1,883 15,287 - 17,170 2,448 16,324 - 18,772 Government securities
– other countries Germany 22 - - 22 22 - - 22 Chile - 6,679 - 6,679 - 7,653 - 7,653 Colombia - 5,105 - 5,105 - 5,505 - 5,505 United States 1,750 388 - 2,138 2,425 193 - 2,618 France - 877 - 877 - 891 - 891 Italy 111 - - 111 - - - - Paraguay -
1,491 - 1,491 - 1,529 - 1,529 Uruguay - 747 - 747 - 553 - 553 Other - - - - 1 - - 1 1,410 1,356 8 2,774 1,194 1,518 - 2,712 Corporate securities Shares 129 - - 129 161 - - 161 Bank deposit certificates - 815 - 815 - 1,053 - 1,053 Debentures 1 - - 1
- 2 - 2 Eurobonds and others 1,280 541 8 1,829 1,033 463 - 1,496 1,932 - - 1,932 1,269 - - 1,269 Financial assets at fair value through profit or loss Brazilian government securities 1,932 - - 1,932 1,269 - - 1,269 - 184 - 184 - 192 - 192 Financial
liabilities designated at fair value through profit or loss Structured notes - 184 - 184 - 192 - 192 The following table presents the breakdown of fair value hierarchy levels for our derivative assets and liabilities. 03/31/2019 12/31/2018 Level 1
Level 2 Level 3 Total Level 1 Level 2 Level 3 Total 6 23,994 84 24,084 15 23,309 142 23,466 Assets Swap Contract– adjustment receivable - 13,685 39 13,724 - 12,959 90 13,049 Options Contract - 3,325 45 3,370 - 4,163 52 4,215 Forwards Contract
- 3,262 - 3,262 - 1,835 - 1,835 Credit derivatives - financial Institutions - 158 - 158 - 120 - 120 NDF - Non Deliverable Forward - 2,906 - 2,906 - 3,711 - 3,711 Check of swap - Companies - 23 - 23 - 44 - 44 Other derivative financial instruments 6
635 - 641 15 477 - 492 ( 6) (27,730) ( 60) ( 27,796) (22) (27,471) ( 26) ( 27,519) Liabilities Swap Contract – adjustment payable - ( 19,375) (37) ( 19,412) - ( 19,351) (3) ( 19,354) Options Contract (1) ( 3,105) (23) ( 3,129) - ( 3,906) (23)
( 3,929) Forwards Contract - ( 1,975) - ( 1,975) - ( 470) - ( 470) Credit derivatives - financial Institutions - (70) - (70) - ( 140) - (140) NDF - Non Deliverable Forward - ( 2,976) - ( 2,976) - ( 3,384) - ( 3,384) Check of swap - Companies - (
174) - ( 174) - ( 162) - ( 162) Other derivative financial instruments (5) ( 55) - (60) (22) (58) - (80) There were no significant transfer between Level 1 and Level 2 during the period from March 31, 2019. Transfers to and from Level 3 are
presented in movements of Level 3. F-92 Itaú Unibanco Holding S.A. Distribution by level The following table presents the breakdown of fair value hierarchy levels. 03/31/2019 12/31/2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3
Total 223,814 33,561 2,790 260,165 224,872 34,206 2,833 261,911 Financial assets at fair value through profit or loss Investment funds 547 2,529 - 3,076 2,003 2,323 - 4,326 Brazilian government securities 212,011 3,335 - 215,346 213,816 3,242 -
217,058 1,866 819 - 2,685 1,517 562 - 2,079 Government securities – other countries Argentina 1,302 - - 1,302 1,129 - - 1,129 Chile 409 185 - 594 147 155 - 302 Colombia - 559 - 559 - 207 - 207 United States 117 - - 117 117 - - 117 Italy - - -
- - 115 - 115 Mexico 27 - - 27 120 - - 120 Paraguay - 1 - 1 - 1 - 1 Uruguay - 74 - 74 - 84 - 84 Other 11 - - 11 4 - - 4 9,390 26,878 2,790 39,058 7,536 28,079 2,833 38,448 Corporate securities Shares 6,290 2,233 1,283 9,806 6,175 2,003 1,268 9,446
Bank deposit certificates - 784 - 784 1 968 - 969 Securitized real estate loans - - 1,345 1,345 - - 1,411 1,411 Debentures 1,813 2,947 121 4,881 168 4,707 85 4,960 Eurobonds and others 1,287 58 13 1,358 1,192 173 31 1,396 Financial credit bills -
20,463 5 20,468 - 19,719 5 19,724 Promissory notes - 370 - 370 - 435 - 435 Other - 23 23 46 - 74 33 107 34,135 17,468 8 51,611 30,680 18,643 - 49,323 Financial assets at fair value through other comprehensive income Brazilian government securities
30,842 825 - 31,667 27,038 801 - 27,839 1,883 15,287 - 17,170 2,448 16,324 - 18,772 Government securities – other countries Germany 22 - - 22 22 - - 22 Chile - 6,679 - 6,679 - 7,653 - 7,653 Colombia - 5,105 - 5,105 - 5,505 - 5,505 United
States 1,750 388 - 2,138 2,425 193 - 2,618 France - 877 - 877 - 891 - 891 Italy 111 - - 111 - - - - Paraguay - 1,491 - 1,491 - 1,529 - 1,529 Uruguay - 747 - 747 - 553 - 553 Other - - - - 1 - - 1 1,410 1,356 8 2,774 1,194 1,518 - 2,712 Corporate
securities Shares 129 - - 129 161 - - 161 Bank deposit certificates - 815 - 815 - 1,053 - 1,053 Debentures 1 - - 1 - 2 - 2 Eurobonds and others 1,280 541 8 1,829 1,033 463 - 1,496 1,932 - - 1,932 1,269 - - 1,269 Financial assets at fair value
through profit or loss Brazilian government securities 1,932 - - 1,932 1,269 - - 1,269 - 184 - 184 - 192 - 192 Financial liabilities designated at fair value through profit or loss Structured notes - 184 - 184 - 192 - 192 The following table
presents the breakdown of fair value hierarchy levels for our derivative assets and liabilities. 03/31/2019 12/31/2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total 6 23,994 84 24,084 15 23,309 142 23,466 Assets Swap Contract–
adjustment receivable - 13,685 39 13,724 - 12,959 90 13,049 Options Contract - 3,325 45 3,370 - 4,163 52 4,215 Forwards Contract - 3,262 - 3,262 - 1,835 - 1,835 Credit derivatives - financial Institutions - 158 - 158 - 120 - 120 NDF - Non
Deliverable Forward - 2,906 - 2,906 - 3,711 - 3,711 Check of swap - Companies - 23 - 23 - 44 - 44 Other derivative financial instruments 6 635 - 641 15 477 - 492 ( 6) (27,730) ( 60) ( 27,796) (22) (27,471) ( 26) ( 27,519) Liabilities Swap Contract
– adjustment payable - ( 19,375) (37) ( 19,412) - ( 19,351) (3) ( 19,354) Options Contract (1) ( 3,105) (23) ( 3,129) - ( 3,906) (23) ( 3,929) Forwards Contract - ( 1,975) - ( 1,975) - ( 470) - ( 470) Credit derivatives - financial
Institutions - (70) - (70) - ( 140) - (140) NDF - Non Deliverable Forward - ( 2,976) - ( 2,976) - ( 3,384) - ( 3,384) Check of swap - Companies - ( 174) - ( 174) - ( 162) - ( 162) Other derivative financial instruments (5) ( 55) - (60) (22) (58) -
(80) There were no significant transfer between Level 1 and Level 2 during the period from March 31, 2019. Transfers to and from Level 3 are presented in movements of Level 3. F-92
Itaú Unibanco Holding S.A. Measurement of fair value Level 2 based
on pricing services and brokers To assure that the fair value of these instruments is properly classified as Level 2, internal analysis of the information received are conducted, so as to understand the nature of the input by the service provider.
Prices provided by pricing services that meet the following requirements are considered Level 2: input is immediately available, regularly distributed, provided by sources actively involved in significant markets and it is not proprietary. Of the
total of R$ 51,213 in financial instruments classified as Level 2, on March 31, 2019, pricing service or brokers were used to evaluate securities at the value of R$ 19,652, substantially represented by: · Debentures: When available, we use
price information for transactions recorded in the Brazilian Debenture System (SND), an electronic platform operated by B3, which provides multiple services for transactions involving debentures in the secondary market. Alternatively, prices of
debentures provided by ANBIMA are used. Its methodology includes obtaining, on a daily basis, illustration and non-binding prices from a group of market players deemed to be significant. Such information is subject to statistical filters established
in the methodology, with the purpose of eliminating outliers. · Global and corporate securities: The pricing process for these securities consists in capturing from 2 to 8 quotes from Bloomberg, depending on the asset. The methodology consists
in comparing the highest purchase prices and the lowest sale prices of trades provided by Bloomberg for the last day of the month. Such prices are compared with information from purchase orders that the Institutional Treasury of ITAÚ UNIBANCO
HOLDING. Should the difference between them be lower than 0.5%, the average price of Bloomberg is used. Should it be higher than 0.5% or if the Institutional Treasury does not provide information on this specific security, the average price gathered
directly from other banks is used. The price of the Institutional Treasury is used as a reference only and never in the computation of the final price. Level 3 recurring fair value measurements The departments in charge of defining and applying the
pricing models are segregated from the business areas. The models are documented, submitted to validation by an independent area and approved by a specific committee. The daily process of price capture, calculation and disclosure are periodically
checked according to formally defined testing and criteria and the information is stored in a single and corporate history data base. The most recurring cases of assets classified as Level 3 are justified by the discount factors used. Factors such
as the fixed interest curve in Brazilian Reais and the TR coupon curve – and, as a result, its related factors – have inputs with terms shorter than the maturities of these fixed-income assets. For swaps, the analysis is carried out by
index for both parties. There are some cases in which the inputs periods are shorter than the maturity of the derivative. F-93 Itaú Unibanco Holding S.A. Measurement of fair value Level 2 based on pricing services and brokers To assure that the
fair value of these instruments is properly classified as Level 2, internal analysis of the information received are conducted, so as to understand the nature of the input by the service provider. Prices provided by pricing services that meet the
following requirements are considered Level 2: input is immediately available, regularly distributed, provided by sources actively involved in significant markets and it is not proprietary. Of the total of R$ 51,213 in financial instruments
classified as Level 2, on March 31, 2019, pricing service or brokers were used to evaluate securities at the value of R$ 19,652, substantially represented by: · Debentures: When available, we use price information for transactions recorded in
the Brazilian Debenture System (SND), an electronic platform operated by B3, which provides multiple services for transactions involving debentures in the secondary market. Alternatively, prices of debentures provided by ANBIMA are used. Its
methodology includes obtaining, on a daily basis, illustration and non-binding prices from a group of market players deemed to be significant. Such information is subject to statistical filters established in the methodology, with the purpose of
eliminating outliers. · Global and corporate securities: The pricing process for these securities consists in capturing from 2 to 8 quotes from Bloomberg, depending on the asset. The methodology consists in comparing the highest purchase prices
and the lowest sale prices of trades provided by Bloomberg for the last day of the month. Such prices are compared with information from purchase orders that the Institutional Treasury of ITAÚ UNIBANCO HOLDING. Should the difference between
them be lower than 0.5%, the average price of Bloomberg is used. Should it be higher than 0.5% or if the Institutional Treasury does not provide information on this specific security, the average price gathered directly from other banks is used. The
price of the Institutional Treasury is used as a reference only and never in the computation of the final price. Level 3 recurring fair value measurements The departments in charge of defining and applying the pricing models are segregated from the
business areas. The models are documented, submitted to validation by an independent area and approved by a specific committee. The daily process of price capture, calculation and disclosure are periodically checked according to formally defined
testing and criteria and the information is stored in a single and corporate history data base. The most recurring cases of assets classified as Level 3 are justified by the discount factors used. Factors such as the fixed interest curve in
Brazilian Reais and the TR coupon curve – and, as a result, its related factors – have inputs with terms shorter than the maturities of these fixed-income assets. For swaps, the analysis is carried out by index for both parties. There
are some cases in which the inputs periods are shorter than the maturity of the derivative. F-93
Itaú Unibanco Holding S.A. Level 3 recurring fair value changes The
tables below show the changes in balance sheet for financial instruments classified by ITAÚ UNIBANCO HOLDING in Level 3 of the fair value hierarchy. Derivative financial instruments classified in Level 3 correspond to other derivatives indexed
to shares. Total gains or losses (realized / unrealized) Transfers in Fair value Fair value at Total Gains or Losses Recognized in Purchases Settlements and / or out of at 12/31/2018 (Unrealized) Recognized in the other Level 03/31/2019 result
comprehensive income 2,790 Financial assets designated at fair value 2,833 (189) - 3 ( 51) 194 (397) Brazilian government securities - - - - - - - (1) Corporate securities 2,833 (189) - 3 ( 51) 194 2,790 (396) Shares 1,268 15 - - - - 1,283 (428)
Securitized real estate loans 1,411 30 (66) - - - - 1,345 Debentures 85 (130) - - - 166 121 2 Eurobonds and others 31 - 1 - 2 ( 49) 28 13 Financial credit bills 5 - - - - - 5 - 33 - Other (9) - 1 (2) - 23 Available-for-sale financial assets - 27
(32) - ( 14) 27 8 (3) Corporate securities - 27 (32) - (14) 27 8 (3) Debentures - (2) 2 - - - Eurobonds and others - 29 (34) (14) 27 8 (3) Total gains or losses (realized / unrealized) Transfers in Fair value Fair value at Total Gains or Losses
Recognized in Purchases Settlements and / or out of at 12/31/2018 (Unrealized) Recognized in the other Level 03/31/2019 result comprehensive income 142 (25) - 60 ( 44) ( 49) 84 25 Derivatives - assets Swap Contract– adjustment receivable 90
(2) - - - (49) 39 32 Options Contract 52 (23) - 60 (44) - 45 (7) Derivatives - liabilities (26) (24) - (38) 61 ( 33) (60) (31) Swap Contract – adjustment payable ( 3) (2) - (1) 2 (33) (37) (25) Options Contract (23) (22) - (37) 59 - ( 23) (6)
Total gains or losses (realized / unrealized) Transfers in Fair value at Fair value at Total Gains or Losses Recognized in Purchases Settlements and / or out of 12/31/2017 12/31/2018 (Unrealized) Recognized in the other Level result comprehensive
income Financial assets designated at fair value 3,947 ( 377) - 90 ( 353) ( 474) 2,833 (618) through profit or loss Brazilian government securities 1 (1) - - - - - - Corporate securities 3,946 (376) - 90 ( 353) (474) 2,833 (618) Shares 2,019 34 - -
(203) (582) 1,268 (442) Securitized real estate loans 1,795 (359) - 57 (89) 7 1,411 19 Debentures 122 (41) - - (53) 57 85 (196) Eurobonds and others - 2 - 20 (2) 11 31 - Financial credit bills - - - - 5 5 - Other 10 (12) - 13 (6) 28 33 1 Total gains
or losses (realized / unrealized) Transfers in Fair value at Fair value at Total Gains or Losses Recognized in Purchases Settlements and / or out of 12/31/2017 12/31/2018 (Unrealized) Recognized in the other Level result comprehensive income 435 (3)
- 205 ( 253) ( 242) 142 61 Derivatives - Assets Swap Contract– adjustment receivable 369 (5) - - (30) (244) 90 61 Options Contract 66 2 205 (223) 2 52 - Other derivative financial instruments 1 (1) - - (103) 40 - (148) 141 44 (26) 6
Derivatives - Liabilities Swap Contract – adjustment payable ( 102) (37) - - 92 44 (3) (3) Options Contract (1) 77 - ( 148) 49 - (23) 9 F-94 Itaú Unibanco Holding S.A. Level 3 recurring fair value changes The tables below show the changes
in balance sheet for financial instruments classified by ITAÚ UNIBANCO HOLDING in Level 3 of the fair value hierarchy. Derivative financial instruments classified in Level 3 correspond to other derivatives indexed to shares. Total gains or
losses (realized / unrealized) Transfers in Fair value Fair value at Total Gains or Losses Recognized in Purchases Settlements and / or out of at 12/31/2018 (Unrealized) Recognized in the other Level 03/31/2019 result comprehensive income 2,790
Financial assets designated at fair value 2,833 (189) - 3 ( 51) 194 (397) Brazilian government securities - - - - - - - (1) Corporate securities 2,833 (189) - 3 ( 51) 194 2,790 (396) Shares 1,268 15 - - - - 1,283 (428) Securitized real estate loans
1,411 30 (66) - - - - 1,345 Debentures 85 (130) - - - 166 121 2 Eurobonds and others 31 - 1 - 2 ( 49) 28 13 Financial credit bills 5 - - - - - 5 - 33 - Other (9) - 1 (2) - 23 Available-for-sale financial assets - 27 (32) - ( 14) 27 8 (3) Corporate
securities - 27 (32) - (14) 27 8 (3) Debentures - (2) 2 - - - Eurobonds and others - 29 (34) (14) 27 8 (3) Total gains or losses (realized / unrealized) Transfers in Fair value Fair value at Total Gains or Losses Recognized in Purchases Settlements
and / or out of at 12/31/2018 (Unrealized) Recognized in the other Level 03/31/2019 result comprehensive income 142 (25) - 60 ( 44) ( 49) 84 25 Derivatives - assets Swap Contract– adjustment receivable 90 (2) - - - (49) 39 32 Options Contract
52 (23) - 60 (44) - 45 (7) Derivatives - liabilities (26) (24) - (38) 61 ( 33) (60) (31) Swap Contract – adjustment payable ( 3) (2) - (1) 2 (33) (37) (25) Options Contract (23) (22) - (37) 59 - ( 23) (6) Total gains or losses (realized /
unrealized) Transfers in Fair value at Fair value at Total Gains or Losses Recognized in Purchases Settlements and / or out of 12/31/2017 12/31/2018 (Unrealized) Recognized in the other Level result comprehensive income Financial assets designated
at fair value 3,947 ( 377) - 90 ( 353) ( 474) 2,833 (618) through profit or loss Brazilian government securities 1 (1) - - - - - - Corporate securities 3,946 (376) - 90 ( 353) (474) 2,833 (618) Shares 2,019 34 - - (203) (582) 1,268 (442) Securitized
real estate loans 1,795 (359) - 57 (89) 7 1,411 19 Debentures 122 (41) - - (53) 57 85 (196) Eurobonds and others - 2 - 20 (2) 11 31 - Financial credit bills - - - - 5 5 - Other 10 (12) - 13 (6) 28 33 1 Total gains or losses (realized / unrealized)
Transfers in Fair value at Fair value at Total Gains or Losses Recognized in Purchases Settlements and / or out of 12/31/2017 12/31/2018 (Unrealized) Recognized in the other Level result comprehensive income 435 (3) - 205 ( 253) ( 242) 142 61
Derivatives - Assets Swap Contract– adjustment receivable 369 (5) - - (30) (244) 90 61 Options Contract 66 2 205 (223) 2 52 - Other derivative financial instruments 1 (1) - - (103) 40 - (148) 141 44 (26) 6 Derivatives - Liabilities Swap
Contract – adjustment payable ( 102) (37) - - 92 44 (3) (3) Options Contract (1) 77 - ( 148) 49 - (23) 9 F-94
Itaú Unibanco Holding S.A. Sensitivity analyses operations of Level
3 The fair value of financial instruments classified in Level 3 is measured through assessment techniques based on correlations and associated products traded in active markets, internal estimates and internal models. Significant unverifiable inputs
used for measurement of the fair value of instruments classified in Level 3 are: interest rates, underlying asset prices and volatility. Significant variations in any of these inputs separately may give rise to significant changes in the fair value.
The table below shows the sensitivity of these fair values in scenarios of changes of interest rates, asset prices, or in scenarios vary in prices with shocks and the volatility for non-linear assets: Sensitivity – Level 3 Operations
03/31/2019 03/31/2018 Impact Impact Market risk factor groups Scenarios Stockholders' Stockholders' Result Result equity equity I (0.9) (0.0) ( 1.2) ( 0.9) Interest rates II (21.1) (0.2) ( 30.3) ( 22.8) III (41.8) (0.4) ( 60.5) ( 45.1) I (64.1) -
(65.8) - Shares (128.2) - (131.6) - II I (6.6) - (13.9) - Nonlinear II (9.2) - (18.8) - The following scenarios are used to measure the sensitivity: Interest rate Based on reasonably possible changes in assumptions at 1, 25 and 50 basis points
(scenarios I, II and III respectively) in the interest curves, both for increase and decrease, considering the largest losses resulting in each scenario. Shares Based on reasonably possible changes in assumptions at 5 and 10 percentage points
(scenarios I and II respectively) in prices of currencies, commodities and ratios, both for increase and decrease, considering the largest losses resulting in each scenario. Non linear Scenario I: Based on reasonably possible changes in assumptions
at 5 percentage points in prices and 25 percentage points the level in volatility, both for increase and decrease, considering the largest losses resulting in each scenario. Scenario II: Based on reasonably possible changes in assumptions at 10
percentage points in prices and 25 percentage points the level in volatility, both for increase and decrease, considering the largest losses resulting in each scenario. Note 29 - Contingent Assets and Liabilities, Provisions and Legal Obligations
ITAÚ UNIBANCO HOLDING, as a result of the ordinary course of its business, may be a party to legal lawsuits of labor, civil and tax nature. The contingencies related to these lawsuits are classified as follows: a) Contingent Assets: There are
no contingent assets recorded. b) Provisions and contingencies: The criteria to quantify of provisions for contingencies are adequate in relation to the specific characteristics of civil, labor and tax lawsuits portfolios, as well as other risks,
taking into consideration the opinion of its legal advisors, the nature of the lawsuits, the similarity with previous lawsuits and the prevailing previous court decisions. A provision is recognized whenever the loss is classified as probable. F-95
Itaú Unibanco Holding S.A. Sensitivity analyses operations of Level 3 The fair value of financial instruments classified in Level 3 is measured through assessment techniques based on correlations and associated products traded in active
markets, internal estimates and internal models. Significant unverifiable inputs used for measurement of the fair value of instruments classified in Level 3 are: interest rates, underlying asset prices and volatility. Significant variations in any
of these inputs separately may give rise to significant changes in the fair value. The table below shows the sensitivity of these fair values in scenarios of changes of interest rates, asset prices, or in scenarios vary in prices with shocks and the
volatility for non-linear assets: Sensitivity – Level 3 Operations 03/31/2019 03/31/2018 Impact Impact Market risk factor groups Scenarios Stockholders' Stockholders' Result Result equity equity I (0.9) (0.0) ( 1.2) ( 0.9) Interest rates II
(21.1) (0.2) ( 30.3) ( 22.8) III (41.8) (0.4) ( 60.5) ( 45.1) I (64.1) - (65.8) - Shares (128.2) - (131.6) - II I (6.6) - (13.9) - Nonlinear II (9.2) - (18.8) - The following scenarios are used to measure the sensitivity: Interest rate Based on
reasonably possible changes in assumptions at 1, 25 and 50 basis points (scenarios I, II and III respectively) in the interest curves, both for increase and decrease, considering the largest losses resulting in each scenario. Shares Based on
reasonably possible changes in assumptions at 5 and 10 percentage points (scenarios I and II respectively) in prices of currencies, commodities and ratios, both for increase and decrease, considering the largest losses resulting in each scenario.
Non linear Scenario I: Based on reasonably possible changes in assumptions at 5 percentage points in prices and 25 percentage points the level in volatility, both for increase and decrease, considering the largest losses resulting in each scenario.
Scenario II: Based on reasonably possible changes in assumptions at 10 percentage points in prices and 25 percentage points the level in volatility, both for increase and decrease, considering the largest losses resulting in each scenario. Note 29 -
Contingent Assets and Liabilities, Provisions and Legal Obligations ITAÚ UNIBANCO HOLDING, as a result of the ordinary course of its business, may be a party to legal lawsuits of labor, civil and tax nature. The contingencies related to these
lawsuits are classified as follows: a) Contingent Assets: There are no contingent assets recorded. b) Provisions and contingencies: The criteria to quantify of provisions for contingencies are adequate in relation to the specific characteristics of
civil, labor and tax lawsuits portfolios, as well as other risks, taking into consideration the opinion of its legal advisors, the nature of the lawsuits, the similarity with previous lawsuits and the prevailing previous court decisions. A provision
is recognized whenever the loss is classified as probable. F-95
Itaú Unibanco Holding S.A. Legal liabilities arise from lawsuits
filed to discuss the legality and unconstitutionality of the legislation in force, being subject to an accounting provision. I- Civil lawsuits In general, provisions and contingencies arise from claims related to the revision of contracts and
compensation for damages and pain and suffering and the lawsuits are classified as follows: Collective lawsuits: Related to claims of a similar nature and with individual amounts that are not considered significant. Provisions are determined on a
monthly basis and the expected amount of losses is accrued according to statistical references that take into account the nature of the lawsuit and the characteristics of the court (Small Claims Court or Regular Court). Contingencies and provisions
are adjusted to reflect the amounts deposited as guarantee for their execution when realized. Individual lawsuits: Related to claims with unusual characteristics or involving significant amounts, these are periodically calculated based on the
calculation of the amount claimed. The amounts considered as probable losses are recorded as provisions. ITAÚ UNIBANCO HOLDING, despite having complied with the rules in force at the time, is a defendant in lawsuits filed by individuals
referring to collection of inflation adjustments to savings accounts resulting from economic plants implemented in the decades of 1980 and 1990, as well as in collective lawsuits filed by: (i) consumer protection associations; and (ii) the Public
Attorney’s Office, on behalf of the savings accounts holders. ITAÚ UNIBANCO HOLDING recognizes provisions upon receipt of summons, as well as at the time individuals demand the enforcement of the decision rendered by the Judiciary power,
using the same criteria adopted to determine provisions for individual lawsuits. The Federal Supreme Court (STF) has issued some decisions favorable to savings account holders, but it has not established its understanding with respect to the
constitutionality of the economic plans and their applicability to savings accounts. Currently, the appeals involving these matters are suspended, as determined by the STF, until it pronounces a final decision. In December 2017, through mediation of
the Federal Attorney’s Office (AGU) and supervision of the BACEN, savers (represented by two civil associations, FEBRAPO and IDEC) and FEBRABAN entered into an instrument of agreement aiming at resolving lawsuits related to economic plans, and
ITAÚ UNIBANCO HOLDING has already adhered to its terms. Said agreement was approved on March 1, 2018, by the Plenary Session of the Federal Supreme Court (STF) and, savers may adhere to their terms for a 24-month period, counted as from May 22,
2018 with the subsequent conclusion of lawsuits. II- Labor claims Provisions and Contingencies arise from lawsuits in which labor rights provided for in labor legislation specific to the related profession are discussed, such as: overtime, salary
equalization, reinstatement, transfer allowance, pension plan supplement, among others, are discussed. These lawsuits are classified as follows: Collective lawsuits: related to claims considered similar and with individual amounts that are not
considered relevant. The expected amount of loss is determined and accrued on a monthly basis in accordance with a statistical share pricing model and is reassessed taking into account the court rulings. Provisions and contingencies are adjusted to
the amounts deposited as guarantee for their execution when realized. Individual lawsuits: related to claims with unusual characteristics or involving significant amounts. These are periodically calculated based on the calculation of the amount
claimed. Probability of loss which, in turn, is estimated in accordance with the actual and legal characteristics related to that lawsuit. III- Other Risks These are quantified and accrued mainly based on the evaluation of rural credit transactions
with joint liability and FCVS (salary variations compensation fund) credits assigned to Banco Nacional. F-96 Itaú Unibanco Holding S.A. Legal liabilities arise from lawsuits filed to discuss the legality and unconstitutionality of the
legislation in force, being subject to an accounting provision. I- Civil lawsuits In general, provisions and contingencies arise from claims related to the revision of contracts and compensation for damages and pain and suffering and the lawsuits
are classified as follows: Collective lawsuits: Related to claims of a similar nature and with individual amounts that are not considered significant. Provisions are determined on a monthly basis and the expected amount of losses is accrued
according to statistical references that take into account the nature of the lawsuit and the characteristics of the court (Small Claims Court or Regular Court). Contingencies and provisions are adjusted to reflect the amounts deposited as guarantee
for their execution when realized. Individual lawsuits: Related to claims with unusual characteristics or involving significant amounts, these are periodically calculated based on the calculation of the amount claimed. The amounts considered as
probable losses are recorded as provisions. ITAÚ UNIBANCO HOLDING, despite having complied with the rules in force at the time, is a defendant in lawsuits filed by individuals referring to collection of inflation adjustments to savings accounts
resulting from economic plants implemented in the decades of 1980 and 1990, as well as in collective lawsuits filed by: (i) consumer protection associations; and (ii) the Public Attorney’s Office, on behalf of the savings accounts holders.
ITAÚ UNIBANCO HOLDING recognizes provisions upon receipt of summons, as well as at the time individuals demand the enforcement of the decision rendered by the Judiciary power, using the same criteria adopted to determine provisions for
individual lawsuits. The Federal Supreme Court (STF) has issued some decisions favorable to savings account holders, but it has not established its understanding with respect to the constitutionality of the economic plans and their applicability to
savings accounts. Currently, the appeals involving these matters are suspended, as determined by the STF, until it pronounces a final decision. In December 2017, through mediation of the Federal Attorney’s Office (AGU) and supervision of the
BACEN, savers (represented by two civil associations, FEBRAPO and IDEC) and FEBRABAN entered into an instrument of agreement aiming at resolving lawsuits related to economic plans, and ITAÚ UNIBANCO HOLDING has already adhered to its terms.
Said agreement was approved on March 1, 2018, by the Plenary Session of the Federal Supreme Court (STF) and, savers may adhere to their terms for a 24-month period, counted as from May 22, 2018 with the subsequent conclusion of lawsuits. II- Labor
claims Provisions and Contingencies arise from lawsuits in which labor rights provided for in labor legislation specific to the related profession are discussed, such as: overtime, salary equalization, reinstatement, transfer allowance, pension plan
supplement, among others, are discussed. These lawsuits are classified as follows: Collective lawsuits: related to claims considered similar and with individual amounts that are not considered relevant. The expected amount of loss is determined and
accrued on a monthly basis in accordance with a statistical share pricing model and is reassessed taking into account the court rulings. Provisions and contingencies are adjusted to the amounts deposited as guarantee for their execution when
realized. Individual lawsuits: related to claims with unusual characteristics or involving significant amounts. These are periodically calculated based on the calculation of the amount claimed. Probability of loss which, in turn, is estimated in
accordance with the actual and legal characteristics related to that lawsuit. III- Other Risks These are quantified and accrued mainly based on the evaluation of rural credit transactions with joint liability and FCVS (salary variations compensation
fund) credits assigned to Banco Nacional. F-96
Itaú Unibanco Holding S.A. Below are the changes in civil, labor and
other risks provisions: 01/01 to 03/31/2019 Other Civil Labor Total risks Opening balance 4,426 6,821 573 11,820 (-) Guaranteed Provisions by indemnity clause (Note 2.4.n) (226) (957) - ( 1,183) Subtotal 4,200 5,864 573 10,637 Interest (Note 23) 44
125 - 169 Changes in the period reflected in results (Note 23) (31) 316 (82) 203 Increase 78 343 73 494 Reversal (109) (27) (155) (291) Payment (314) (456) - (770) Subtotal 3,899 5,849 491 10,239 (+) Guaranteed Provisions by indemnity clause (Note
2.4.n) 222 989 - 1,211 Closing balance 4,121 6,838 491 11,450 Current 1,341 2,905 491 4,737 Non-current 2,780 3,933 - 6,713 Escrow deposits at 03/31/2019 (Note 18a) 1,549 2,370 - 3,919 01/01 to 03/31/2018 Other Civil Labor Total risks Opening
balance 5,300 7,283 150 12,733 Effect of change in consolidation criteria (243) (998) - ( 1,241) Subtotal 5,057 6,285 150 11,492 Interest (Note 23) 24 149 - 173 Changes in the period reflected in results (Note 23) (9) 346 (10) 327 Increase 110 388 -
498 Reversal (119) (42) (10) (171) Payment (253) (464) - (717) Subtotal 4,819 6,316 140 11,275 (+) Guaranteed Provisions by indemnity clause (Note 2.4.n) 247 983 - 1,230 Closing balance 5,066 7,299 140 12,505 Current 1,377 3,128 140 4,645
Non-current 3,689 4,171 - 7,860 Escrow deposits at 03/31/2018 (Note 18a) 1,498 2,184 - 3,682 IV- Tax proceedings and legal obligations Provisions correspond to the principal amount of taxes involved in tax, administrative or judicial lawsuits,
subject to tax assessment notices, plus interest and, when applicable, fines and charges. F-97 Itaú Unibanco Holding S.A. Below are the changes in civil, labor and other risks provisions: 01/01 to 03/31/2019 Other Civil Labor Total risks
Opening balance 4,426 6,821 573 11,820 (-) Guaranteed Provisions by indemnity clause (Note 2.4.n) (226) (957) - ( 1,183) Subtotal 4,200 5,864 573 10,637 Interest (Note 23) 44 125 - 169 Changes in the period reflected in results (Note 23) (31) 316
(82) 203 Increase 78 343 73 494 Reversal (109) (27) (155) (291) Payment (314) (456) - (770) Subtotal 3,899 5,849 491 10,239 (+) Guaranteed Provisions by indemnity clause (Note 2.4.n) 222 989 - 1,211 Closing balance 4,121 6,838 491 11,450 Current
1,341 2,905 491 4,737 Non-current 2,780 3,933 - 6,713 Escrow deposits at 03/31/2019 (Note 18a) 1,549 2,370 - 3,919 01/01 to 03/31/2018 Other Civil Labor Total risks Opening balance 5,300 7,283 150 12,733 Effect of change in consolidation criteria
(243) (998) - ( 1,241) Subtotal 5,057 6,285 150 11,492 Interest (Note 23) 24 149 - 173 Changes in the period reflected in results (Note 23) (9) 346 (10) 327 Increase 110 388 - 498 Reversal (119) (42) (10) (171) Payment (253) (464) - (717) Subtotal
4,819 6,316 140 11,275 (+) Guaranteed Provisions by indemnity clause (Note 2.4.n) 247 983 - 1,230 Closing balance 5,066 7,299 140 12,505 Current 1,377 3,128 140 4,645 Non-current 3,689 4,171 - 7,860 Escrow deposits at 03/31/2018 (Note 18a) 1,498
2,184 - 3,682 IV- Tax proceedings and legal obligations Provisions correspond to the principal amount of taxes involved in tax, administrative or judicial lawsuits, subject to tax assessment notices, plus interest and, when applicable, fines and
charges. F-97
Itaú Unibanco Holding S.A. The table below shows the changes in the
provisions: 01/01 to 01/01 to 03/31/2019 03/31/2018 Opening balance 6,793 7,003 (-) Provisions guaranteed by indemnity clause (Note 2.4 n) (66) (66) Subtotal 6,727 6,937 (*) Interest 165 136 Changes in the period reflected in results (114) (47) (*)
Increase 149 160 (*) Reversal (263) (207) (36) (74) Payment Subtotal 6,742 6,952 (+) Provisions guaranteed by indemnity clause (Note 2.4 n) 69 67 Closing balance 6,811 7,019 Current 261 565 Non-current 6,550 6,454 (*) The amounts are included in the
headings Tax Expenses, General and Administrative Expenses and Current Income Tax and Social Contribution. 01/01 to 01/01 to Escrow deposits 03/31/2019 03/31/2018 Opening balance 5,346 5,170 Appropriation of interest 52 46 Changes in the period 158
16 Deposits made 174 61 Withdrawals - (7) Deposits released (16) (38) Closing balance 5,556 5,232 Reclassification of assets pledged as collateral for contingencies (Note 29e) (78) (1) Closing balance after reclassification (Note 18a) 5,478 5,231
F-98 Itaú Unibanco Holding S.A. The table below shows the changes in the provisions: 01/01 to 01/01 to 03/31/2019 03/31/2018 Opening balance 6,793 7,003 (-) Provisions guaranteed by indemnity clause (Note 2.4 n) (66) (66) Subtotal 6,727 6,937
(*) Interest 165 136 Changes in the period reflected in results (114) (47) (*) Increase 149 160 (*) Reversal (263) (207) (36) (74) Payment Subtotal 6,742 6,952 (+) Provisions guaranteed by indemnity clause (Note 2.4 n) 69 67 Closing balance 6,811
7,019 Current 261 565 Non-current 6,550 6,454 (*) The amounts are included in the headings Tax Expenses, General and Administrative Expenses and Current Income Tax and Social Contribution. 01/01 to 01/01 to Escrow deposits 03/31/2019 03/31/2018
Opening balance 5,346 5,170 Appropriation of interest 52 46 Changes in the period 158 16 Deposits made 174 61 Withdrawals - (7) Deposits released (16) (38) Closing balance 5,556 5,232 Reclassification of assets pledged as collateral for
contingencies (Note 29e) (78) (1) Closing balance after reclassification (Note 18a) 5,478 5,231 F-98
Itaú Unibanco Holding S.A. The main discussions related to Tax and
Tax Lawsuits and Legal Obligations are described below: · CSLL – Isonomy – R$ 1,353: discussing the lack of constitutional support for the increase, establishes by Law nº 11,727/08, of the CSLL rate for financial and insurance
companies from 9% to 15%. The balance of the deposit in court totals R$ 1,368; · INSS – Non-compensatory amounts – R$ 666: the non-levy of social security contribution on amounts paid as profit sharing is defended; · PIS and
COFINS – Calculation basis – R$ 632: defending the levy of PIS and COFINS on revenue, a tax on revenue from the sales of assets and services. The balance of the deposit in court totals R$ 616. c) Off-balance sheet contingencies The
amounts involved in administrative and judicial challenges with estimated risk of possible loss are subject to accounting provision and are basically composed of: I- Civil and Labor Claims In Civil Lawsuits with possible loss, total estimated risk
is R$ 4,156 (R$ 3,879 at December 31, 2018), and in this amount there are no values arising from interest in Joint Ventures. For Labor Claims with possible loss, estimated risk is R$ 155 (R$ 177 at December 31, 2018). II - Tax proceedings The tax
proceedings of possible loss totaled R$ 28,568, and the main discussions are described below: · INSS – Non-compensatory amounts – R$ 5,853: defends the non-levy of this contribution on these amounts, among which are profit sharing
and stock options; · IRPJ, CSLL, PIS and COFINS – Funding Expenses – R$ 3,978: the deductibility of funding expenses (Interbank expenses), related to funds that were capitalized between Group companies; · IRPJ and CSLL –
Goodwill – Deduction – R$ 2,931: the deductibility of goodwill with future expected profitability on the acquisition of investments; · PIS and COFINS - Reversal of Revenues from Depreciation in Excess – R$ 2,783: discussing
the accounting and tax treatment granted to PIS and COFINS upon settlement of leasing operations; · IRPJ, CSLL, PIS and COFINS – Requests for offsetting dismissed - R$ 1,844: cases in which the liquidity and the ability of offset credits
are discussed; · IRPJ and CSLL – Interest on capital – R$ 1,522: defending the deductibility of interest on capital declared to stockholders based on the Brazilian long term interest rate (TJLP) on the stockholders’ equity for
the year and for prior years; · ISS – Banking Institutions – R$ 1,175: these are banking operations, revenue from which may not be interpreted as prices for services rendered, and/or which arises from activities not listed under
Supplementary Law No. 116/03 or Decree Law No. 406/68; · IRPJ and CSLL – Disallowance of Losses – R$ 1,125: discussion on the amount of tax loss (IRPJ) and/or social contribution (CSLL) tax loss carryforwards used by the Federal
Revenue Service when drawing up tax assessment notes that are still pending a final decision; · IRPJ and CSLL – Deductibility of Losses in Credit Operations – R$ 780 – Assessments to require the payment of IRPJ and CSLL due to
the alleged non-observance of the legal criteria for the deduction of losses upon the receipt of credits. F-99 Itaú Unibanco Holding S.A. The main discussions related to Tax and Tax Lawsuits and Legal Obligations are described below: ·
CSLL – Isonomy – R$ 1,353: discussing the lack of constitutional support for the increase, establishes by Law nº 11,727/08, of the CSLL rate for financial and insurance companies from 9% to 15%. The balance of the deposit in court
totals R$ 1,368; · INSS – Non-compensatory amounts – R$ 666: the non-levy of social security contribution on amounts paid as profit sharing is defended; · PIS and COFINS – Calculation basis – R$ 632: defending the
levy of PIS and COFINS on revenue, a tax on revenue from the sales of assets and services. The balance of the deposit in court totals R$ 616. c) Off-balance sheet contingencies The amounts involved in administrative and judicial challenges with
estimated risk of possible loss are subject to accounting provision and are basically composed of: I- Civil and Labor Claims In Civil Lawsuits with possible loss, total estimated risk is R$ 4,156 (R$ 3,879 at December 31, 2018), and in this amount
there are no values arising from interest in Joint Ventures. For Labor Claims with possible loss, estimated risk is R$ 155 (R$ 177 at December 31, 2018). II - Tax proceedings The tax proceedings of possible loss totaled R$ 28,568, and the main
discussions are described below: · INSS – Non-compensatory amounts – R$ 5,853: defends the non-levy of this contribution on these amounts, among which are profit sharing and stock options; · IRPJ, CSLL, PIS and COFINS –
Funding Expenses – R$ 3,978: the deductibility of funding expenses (Interbank expenses), related to funds that were capitalized between Group companies; · IRPJ and CSLL – Goodwill – Deduction – R$ 2,931: the
deductibility of goodwill with future expected profitability on the acquisition of investments; · PIS and COFINS - Reversal of Revenues from Depreciation in Excess – R$ 2,783: discussing the accounting and tax treatment granted to PIS and
COFINS upon settlement of leasing operations; · IRPJ, CSLL, PIS and COFINS – Requests for offsetting dismissed - R$ 1,844: cases in which the liquidity and the ability of offset credits are discussed; · IRPJ and CSLL – Interest
on capital – R$ 1,522: defending the deductibility of interest on capital declared to stockholders based on the Brazilian long term interest rate (TJLP) on the stockholders’ equity for the year and for prior years; · ISS –
Banking Institutions – R$ 1,175: these are banking operations, revenue from which may not be interpreted as prices for services rendered, and/or which arises from activities not listed under Supplementary Law No. 116/03 or Decree Law No.
406/68; · IRPJ and CSLL – Disallowance of Losses – R$ 1,125: discussion on the amount of tax loss (IRPJ) and/or social contribution (CSLL) tax loss carryforwards used by the Federal Revenue Service when drawing up tax assessment
notes that are still pending a final decision; · IRPJ and CSLL – Deductibility of Losses in Credit Operations – R$ 780 – Assessments to require the payment of IRPJ and CSLL due to the alleged non-observance of the legal
criteria for the deduction of losses upon the receipt of credits. F-99
Itaú Unibanco Holding S.A. d) Accounts Receivable –
Reimbursement of Provisions The receivables balance arising from reimbursements of contingencies totals R$ 1,015 (R$ 999 at December 31, 2018) (Note 18a), arising basically from the collateral established in Banco Banerj S.A. privatization process
occurred in 1997, when the State of Rio de Janeiro created a fund to guarantee the equity recomposition in provisions for Civil, Labor and Tax Claims. e) Guarantees of contingencies, provisions and legal obligations The guarantees related to legal
proceedings involving ITAÚ UNIBANCO HOLDING and basically consist of: 03/31/2019 12/31/2018 Financial assets - at fair value through profit or loss and at fair value through 698 730 other comprehensive income (basically financial treasury
bills) Escrow deposits (Note 18a) 4,300 4,312 ITAÚ UNIBANCO HOLDING’s provisions for judicial and administrative challenges are long-term, considering the time required for their questioning, and this prevents the disclosure of a deadline
for their conclusion. The legal advisors believe that ITAÚ UNIBANCO HOLDING is not a party to this or any other administrative proceedings or lawsuits that could significantly affect the results of its operations. F-100 Itaú Unibanco
Holding S.A. d) Accounts Receivable – Reimbursement of Provisions The receivables balance arising from reimbursements of contingencies totals R$ 1,015 (R$ 999 at December 31, 2018) (Note 18a), arising basically from the collateral established
in Banco Banerj S.A. privatization process occurred in 1997, when the State of Rio de Janeiro created a fund to guarantee the equity recomposition in provisions for Civil, Labor and Tax Claims. e) Guarantees of contingencies, provisions and legal
obligations The guarantees related to legal proceedings involving ITAÚ UNIBANCO HOLDING and basically consist of: 03/31/2019 12/31/2018 Financial assets - at fair value through profit or loss and at fair value through 698 730 other
comprehensive income (basically financial treasury bills) Escrow deposits (Note 18a) 4,300 4,312 ITAÚ UNIBANCO HOLDING’s provisions for judicial and administrative challenges are long-term, considering the time required for their
questioning, and this prevents the disclosure of a deadline for their conclusion. The legal advisors believe that ITAÚ UNIBANCO HOLDING is not a party to this or any other administrative proceedings or lawsuits that could significantly affect
the results of its operations. F-100
Itaú Unibanco Holding S.A. Note 30 – Segment Information The
current operational and reporting segments of ITAÚ UNIBANCO HOLDING are described below: · Retail Banking The segment comprises retail clients, account holders and non-account holders, individuals and legal entities, high net worth clients
(Itaú Uniclass and Personnalité) and the companies segment (microenterprises and small companies). It includes financing and credit offers made outside the branch network, in addition to credit cards and payroll loans. · Wholesale
Banking It comprises products and services offered to middle-market companies, clients with high financial equity (Private Bank), activities of Latin American units and Itaú BBA, the unit responsible for commercial transactions with large
companies and operation as Investment Bank. · Activities with the Market + Corporation It basically corresponds to the result arising from capital surplus, subordinated debt surplus and the net balance of tax credits and debits. It also shows
the financial margin with the market, the Treasury operating cost, the equity in earnings of companies not associated to each one of the segments. a) Basis of presentation Segment information is prepared based on the reports used by top management
to assess the performance and to make decisions regarding the allocation of funds for investment and other purposes. These reports use a variety of information for management purposes, including financial and non-financial information supported by
bases different from information prepared according to accounting practices adopted in Brazil. The main indicator adopted for monitoring of business performance is Recurring Net Income, as well as Return on Economic Capital for each business
segment. Information by segment has been prepared in accordance with accounting practices adopted in Brazil and was adjusted by the items below: Allocated capital: The statements of each segment consider the capital allocation based on a proprietary
model and consequent impacts on results arising from this allocation. This model comprises the following components: Credit risk, operational risk, market risk and insurance underwriting risk. Income tax rate: We consider the total income tax rate,
net of the tax effect from the payment of interest on capital, for the Retail Banking, Wholesale Bank and Activities with the Market segments. The difference between the income tax amount calculated by segment and the effective income tax amount, as
stated in the consolidated financial statements, is allocated to the Activities with the Market + Corporation column. · Reclassification and application of managerial criteria The managerial statement of income was used to prepare information
per segment. These statements were obtained based on the statement of income adjusted by the impact of non-recurring events and the managerial reclassifications in income. The main reclassifications between the accounting and managerial results are:
Banking product: Considers the opportunity cost for each operation. The financial statements were adjusted so that the stockholders' equity was replaced by funding at market price. Subsequently, the financial statements were adjusted to include
revenues related to capital allocated to each segment. The cost of subordinated debt and the respective remuneration at market price were proportionally allocated to the segments, based on the economic allocated capital. Hedge tax effects: The tax
effects of the hedge of investments abroad were adjusted – these were originally recorded in the tax expenses (PIS and COFINS) and Income Tax and Social Contribution on Net Income (IR and CSLL) lines – and are now reclassified to
financial margin. F-101 Itaú Unibanco Holding S.A. Note 30 – Segment Information The current operational and reporting segments of ITAÚ UNIBANCO HOLDING are described below: · Retail Banking The segment comprises retail clients,
account holders and non-account holders, individuals and legal entities, high net worth clients (Itaú Uniclass and Personnalité) and the companies segment (microenterprises and small companies). It includes financing and credit offers made
outside the branch network, in addition to credit cards and payroll loans. · Wholesale Banking It comprises products and services offered to middle-market companies, clients with high financial equity (Private Bank), activities of Latin
American units and Itaú BBA, the unit responsible for commercial transactions with large companies and operation as Investment Bank. · Activities with the Market + Corporation It basically corresponds to the result arising from capital
surplus, subordinated debt surplus and the net balance of tax credits and debits. It also shows the financial margin with the market, the Treasury operating cost, the equity in earnings of companies not associated to each one of the segments. a)
Basis of presentation Segment information is prepared based on the reports used by top management to assess the performance and to make decisions regarding the allocation of funds for investment and other purposes. These reports use a variety of
information for management purposes, including financial and non-financial information supported by bases different from information prepared according to accounting practices adopted in Brazil. The main indicator adopted for monitoring of business
performance is Recurring Net Income, as well as Return on Economic Capital for each business segment. Information by segment has been prepared in accordance with accounting practices adopted in Brazil and was adjusted by the items below: Allocated
capital: The statements of each segment consider the capital allocation based on a proprietary model and consequent impacts on results arising from this allocation. This model comprises the following components: Credit risk, operational risk, market
risk and insurance underwriting risk. Income tax rate: We consider the total income tax rate, net of the tax effect from the payment of interest on capital, for the Retail Banking, Wholesale Bank and Activities with the Market segments. The
difference between the income tax amount calculated by segment and the effective income tax amount, as stated in the consolidated financial statements, is allocated to the Activities with the Market + Corporation column. · Reclassification and
application of managerial criteria The managerial statement of income was used to prepare information per segment. These statements were obtained based on the statement of income adjusted by the impact of non-recurring events and the managerial
reclassifications in income. The main reclassifications between the accounting and managerial results are: Banking product: Considers the opportunity cost for each operation. The financial statements were adjusted so that the stockholders' equity
was replaced by funding at market price. Subsequently, the financial statements were adjusted to include revenues related to capital allocated to each segment. The cost of subordinated debt and the respective remuneration at market price were
proportionally allocated to the segments, based on the economic allocated capital. Hedge tax effects: The tax effects of the hedge of investments abroad were adjusted – these were originally recorded in the tax expenses (PIS and COFINS) and
Income Tax and Social Contribution on Net Income (IR and CSLL) lines – and are now reclassified to financial margin. F-101
Itaú Unibanco Holding S.A. Insurance: The main reclassifications of
revenues refer to the financial margins obtained with the technical provisions of insurance, pension plan and capitalization, in addition to revenue from management of pension plan funds. Other reclassifications: Other Income, Share of Income of
Associates and joint ventures, Non-Operating Income, Profit Sharing of Management Members and Expenses for Credit Card Reward Program were reclassified to those lines representing the way the ITAÚ UNIBANCO HOLDING manages its business, enabling
greater understanding for performance analysis. The adjustments and reclassifications column shows the effects of the differences between the accounting principles followed for the presentation of segment information, which are substantially in line
with the accounting practices adopted for financial institutions in Brazil, except as described above, and the policies used in the preparation of these consolidated financial statements according to IFRS. Main adjustments are as follows: ·
Requirements for evaluation of impairment of financial assets are based on an expected loan losses model; · Adjustment to fair value due to reclassifications of financial assets for measurement categories: at amortized cost, at fair value
through other comprehensive income and at fair value through or loss, as a result of the concept of business models of IFRS 9; · Financial assets modified and not written-off, which balance was recalculated in accordance with the requirements
of IFRS 9; · Effective interest rate of financial assets and liabilities measure at amortized cost, recording revenues and costs directly attributable to their acquisition, issue or disposal for the transaction term, whereas in the standards
adopted in Brazil, recognition of expenses and revenues from fees occurs at the time these transactions are contracted; Goodwill generated in business combination is not amortized, whereas in the standards adopted in Brazil, it is amortized. F-102
Itaú Unibanco Holding S.A. Insurance: The main reclassifications of revenues refer to the financial margins obtained with the technical provisions of insurance, pension plan and capitalization, in addition to revenue from management of pension
plan funds. Other reclassifications: Other Income, Share of Income of Associates and joint ventures, Non-Operating Income, Profit Sharing of Management Members and Expenses for Credit Card Reward Program were reclassified to those lines representing
the way the ITAÚ UNIBANCO HOLDING manages its business, enabling greater understanding for performance analysis. The adjustments and reclassifications column shows the effects of the differences between the accounting principles followed for
the presentation of segment information, which are substantially in line with the accounting practices adopted for financial institutions in Brazil, except as described above, and the policies used in the preparation of these consolidated financial
statements according to IFRS. Main adjustments are as follows: · Requirements for evaluation of impairment of financial assets are based on an expected loan losses model; · Adjustment to fair value due to reclassifications of financial
assets for measurement categories: at amortized cost, at fair value through other comprehensive income and at fair value through or loss, as a result of the concept of business models of IFRS 9; · Financial assets modified and not written-off,
which balance was recalculated in accordance with the requirements of IFRS 9; · Effective interest rate of financial assets and liabilities measure at amortized cost, recording revenues and costs directly attributable to their acquisition,
issue or disposal for the transaction term, whereas in the standards adopted in Brazil, recognition of expenses and revenues from fees occurs at the time these transactions are contracted; Goodwill generated in business combination is not amortized,
whereas in the standards adopted in Brazil, it is amortized. F-102
Itaú Unibanco Holding S.A. b) Consolidated Statement of Managerial
Result ITAÚ UNIBANCO HOLDING S.A. From January 1,March 31, 2019 Activities with the Retail Wholesale ITAÚ IFRS Adjustments Market + (3) Banking Banking UNIBANCO consolidated Corporation Banking product 18,570 7,113 2,525 28,208 88 28,296
(1) Interest margin 10,653 4,602 2,413 17,668 (172) 17,496 Banking service fees 6,213 2,366 43 8,622 517 9,139 Income related to insurance and private pension operations before claim and selling expenses 1,704 145 69 1,918 (821) 1,097 Other income -
- - - 564 564 Cost of Credit (3,665) (139) - (3,804) 453 (3,351) Claims (288) (11) - (299) (31) (330) Operating margin 14,617 6,963 2,525 24,105 510 24,615 Other operating income (expenses) (9,902) (3,653) (287) (13,842) (1,235) (15,077) (2)
Non-interest expenses (8,712) (3,331) (119) (12,162) ( 1,320) (13,482) Tax expenses for ISS, PIS and COFINS and Other (1,190) (322) (168) (1,680) (144) (1,824) Share of profit or (loss) in associates and joint ventures - - - - 229 229 Net income
before income tax and social contribution 4,715 3,310 2,238 10,263 (725) 9,538 Income tax and social contribution (1,586) (937) (665) (3,188) 553 (2,635) Non-controlling interest in subsidiaries (54) (135) (9) (198) 42 (156) Net income 3,075 2,238
1,564 6,877 (130) 6,747 Total assets (*) - 03/31/2019 1,026,108 656,765 138,232 1,651,425 (105,454) 1,545,971 Total liabilities - 03/31/2019 986,858 600,766 101,158 1,519,102 (111,790) 1,407,312 (*) Includes: Investments in associates and joint
ventures 1,195 - 11,483 12,678 ( 610) 12,068 Fixed assets, net 5,329 1,007 - 6,336 943 7,279 Goodwill and Intangible assets, net 6,908 8,151 - 15,059 4,590 19,649 (1) Includes interest and similar income and expenses of R$ 15,610, net gains (loss)
on investment securities and derivatives of R$ 1,583 and results from foreign exchange operations and exchange variation of transactions abroad of R$ 303. (2) Refers to general and administrative expenses including depreciation and amortization
expenses of R$ (1,133). (3) The IFRS consolidated figures do not represent the sum of the segments because there are intercompany transactions that were eliminated only in the consolidated financial statements. Segments are assessed by top
management, net of income and expenses between related parties. F-103 Itaú Unibanco Holding S.A. b) Consolidated Statement of Managerial Result ITAÚ UNIBANCO HOLDING S.A. From January 1,March 31, 2019 Activities with the Retail Wholesale
ITAÚ IFRS Adjustments Market + (3) Banking Banking UNIBANCO consolidated Corporation Banking product 18,570 7,113 2,525 28,208 88 28,296 (1) Interest margin 10,653 4,602 2,413 17,668 (172) 17,496 Banking service fees 6,213 2,366 43 8,622 517
9,139 Income related to insurance and private pension operations before claim and selling expenses 1,704 145 69 1,918 (821) 1,097 Other income - - - - 564 564 Cost of Credit (3,665) (139) - (3,804) 453 (3,351) Claims (288) (11) - (299) (31) (330)
Operating margin 14,617 6,963 2,525 24,105 510 24,615 Other operating income (expenses) (9,902) (3,653) (287) (13,842) (1,235) (15,077) (2) Non-interest expenses (8,712) (3,331) (119) (12,162) ( 1,320) (13,482) Tax expenses for ISS, PIS and COFINS
and Other (1,190) (322) (168) (1,680) (144) (1,824) Share of profit or (loss) in associates and joint ventures - - - - 229 229 Net income before income tax and social contribution 4,715 3,310 2,238 10,263 (725) 9,538 Income tax and social
contribution (1,586) (937) (665) (3,188) 553 (2,635) Non-controlling interest in subsidiaries (54) (135) (9) (198) 42 (156) Net income 3,075 2,238 1,564 6,877 (130) 6,747 Total assets (*) - 03/31/2019 1,026,108 656,765 138,232 1,651,425 (105,454)
1,545,971 Total liabilities - 03/31/2019 986,858 600,766 101,158 1,519,102 (111,790) 1,407,312 (*) Includes: Investments in associates and joint ventures 1,195 - 11,483 12,678 ( 610) 12,068 Fixed assets, net 5,329 1,007 - 6,336 943 7,279 Goodwill
and Intangible assets, net 6,908 8,151 - 15,059 4,590 19,649 (1) Includes interest and similar income and expenses of R$ 15,610, net gains (loss) on investment securities and derivatives of R$ 1,583 and results from foreign exchange operations and
exchange variation of transactions abroad of R$ 303. (2) Refers to general and administrative expenses including depreciation and amortization expenses of R$ (1,133). (3) The IFRS consolidated figures do not represent the sum of the segments because
there are intercompany transactions that were eliminated only in the consolidated financial statements. Segments are assessed by top management, net of income and expenses between related parties. F-103
Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A. From
January 1 to March 31, 2018 Actitivities with IFRS Retail Wholesale ITAÚ the Market + Adjustments (3) Banking Banking UNIBANCO consolidated Corporation Banking product 17,692 6,821 2,913 27,426 (17) 27,409 (1) Interest margin 9,716 4,432 2,852
17,000 5 17,005 Banking service fees 6,234 2,273 21 8,528 369 8,897 Income related to insurance and private pension operations before claim and selling expenses 1,742 116 40 1,898 (846) 1,052 Other income - - - - 455 455 Cost of Credit (2,780)
(1,007) - (3,787) 689 (3,098) Claims (260) (19) - (279) - (279) Operating margin 14,652 5,795 2,913 23,360 672 24,032 Other operating income (expenses) (9,513) (3,656) (213) (13,382) (1,087) (14,469) (2) Non-interest expenses (8,321) (3,340) (32)
(11,693) (1,111) (12,804) Tax expenses for ISS, PIS and COFINS and Other (1,192) (316) (181) (1,689) (103) (1,792) Share of profit or (loss) in associates and joint ventures - - - - 127 127 Net income before income tax and social contribution 5,139
2,139 2,700 9,978 (415) 9,563 Income tax and social contribution (1,922) (589) (952) (3,463) 457 (3,006) Non-controlling interest in subsidiaries (44) (43) (9) (96) (72) (168) Net income 3,173 1,507 1,739 6,419 (30) 6,389 Total assets (*) -
12/31/2018 1,042,145 655,393 142,853 1,649,613 (96,816) 1,552,797 Total liabilities - 12/31/2018 1,005,194 597,528 93,546 1,505,490 (103,159) 1,402,331 (*) Includes: Investments in associates and joint ventures 1,220 - 11,438 12,658 (639) 12,019
Fixed assets, net 5,526 879 - 6,405 897 7,302 Goodwill and Intangible assets, net 6,845 8,178 - 15,023 4,306 19,329 (1) Includes interest and similar income and expenses of R$ 15,949, net gains (loss) on investment securities and derivatives of R$
1,201 and results from foreign exchange operations and exchange variation of transactions abroad of R$ (145). (2) Refers to general and administrative expenses including depreciation and amortization expenses of R$ (802). (3) The IFRS Consolidated
figures do not represent the sum of the segments because there are intercompany transactions that were eliminated only in the consolidated financial statements. Segments are assessed by top management, net of income and expenses between related
parties. F-104 Itaú Unibanco Holding S.A. ITAÚ UNIBANCO HOLDING S.A. From January 1 to March 31, 2018 Actitivities with IFRS Retail Wholesale ITAÚ the Market + Adjustments (3) Banking Banking UNIBANCO consolidated Corporation Banking
product 17,692 6,821 2,913 27,426 (17) 27,409 (1) Interest margin 9,716 4,432 2,852 17,000 5 17,005 Banking service fees 6,234 2,273 21 8,528 369 8,897 Income related to insurance and private pension operations before claim and selling expenses
1,742 116 40 1,898 (846) 1,052 Other income - - - - 455 455 Cost of Credit (2,780) (1,007) - (3,787) 689 (3,098) Claims (260) (19) - (279) - (279) Operating margin 14,652 5,795 2,913 23,360 672 24,032 Other operating income (expenses) (9,513)
(3,656) (213) (13,382) (1,087) (14,469) (2) Non-interest expenses (8,321) (3,340) (32) (11,693) (1,111) (12,804) Tax expenses for ISS, PIS and COFINS and Other (1,192) (316) (181) (1,689) (103) (1,792) Share of profit or (loss) in associates and
joint ventures - - - - 127 127 Net income before income tax and social contribution 5,139 2,139 2,700 9,978 (415) 9,563 Income tax and social contribution (1,922) (589) (952) (3,463) 457 (3,006) Non-controlling interest in subsidiaries (44) (43) (9)
(96) (72) (168) Net income 3,173 1,507 1,739 6,419 (30) 6,389 Total assets (*) - 12/31/2018 1,042,145 655,393 142,853 1,649,613 (96,816) 1,552,797 Total liabilities - 12/31/2018 1,005,194 597,528 93,546 1,505,490 (103,159) 1,402,331 (*) Includes:
Investments in associates and joint ventures 1,220 - 11,438 12,658 (639) 12,019 Fixed assets, net 5,526 879 - 6,405 897 7,302 Goodwill and Intangible assets, net 6,845 8,178 - 15,023 4,306 19,329 (1) Includes interest and similar income and expenses
of R$ 15,949, net gains (loss) on investment securities and derivatives of R$ 1,201 and results from foreign exchange operations and exchange variation of transactions abroad of R$ (145). (2) Refers to general and administrative expenses including
depreciation and amortization expenses of R$ (802). (3) The IFRS Consolidated figures do not represent the sum of the segments because there are intercompany transactions that were eliminated only in the consolidated financial statements. Segments
are assessed by top management, net of income and expenses between related parties. F-104
Itaú Unibanco Holding S.A. c) Result of Non-Current Assets and Main
Services and Products by Geographic Region 03/31/2019 12/31/2018 Brazil Abroad Total Brazil Abroad Total Non-current assets 14,463 12,465 26,928 15,435 11,196 26,631 01/01 to 03/31/2019 01/01 to 03/31/2018 Brazil Abroad Total Brazil Abroad Total (1)
(2) Income related to financial operations 29,831 6,389 36,220 29,921 3,515 33,436 Income related to insurance and private pension operations 1,060 37 1,097 1,016 36 1,052 before claim and selling expenses Banking service fees 8,240 899 9,139 8,043
854 8,897 (1) Includes interest and similar income, dividend income, net gain (loss) on investment securities and derivatives, foreign exchange results, and exchange variation on transactions. (2) ITAÚ UNIBANCO HOLDING does not have clients
representing 10% or higher of its revenues. Note 31 – Related parties Transactions between related parties are carried out at amounts, terms and average rates in accordance with normal market practices during the period, as well as under
reciprocal conditions. Transactions between companies and investment funds, included in consolidation (note 2.4a), were eliminated and do not have effects on the consolidated statements. The main unconsolidated related parties are as follows: ·
Itaú Unibanco Participações S.A. (IUPAR), Companhia E.Johnston de Participações S.A. (shareholder of IUPAR) and ITAÚSA, direct and indirect shareholders of ITAÚ UNIBANCO HOLDING; · The non-financial
subsidiaries and joint ventures of ITAÚSA, specially: Itautec S.A., Duratex S.A., Itaúsa Empreendimentos S.A. and Alpargatas S.A.; · Investments in associates and joint ventures, and the main ones are: Porto Seguro Itaú Unibanco
Participações S.A., BSF Holding S.A., IRB-Brasil Resseguros S.A. and XP Investimentos S.A.; · Fundação Itaú Unibanco - Previdência Complementar and FUNBEP – Fundo de Pensão Multipatrocinado, closed-end
supplementary pension entities, that administer retirement plans sponsored by ITAÚ UNIBANCO HOLDING, created exclusively for employees; · Foundations and Institutes maintained by ITAÚ UNIBANCO HOLDING’s donations and by the
proceedings generated by its assets to accomplish its purposed, as well as to maintain the operational and administrative structure: Fundação Itaú Social – manages the “Itaú Social Program”, which aims at
coordinating the organization’s role in projects of interest to the community by supporting or developing social, scientific and cultural projects, mainly in the elementary education and health areas and supports projects or initiatives in
progress, supported or sponsored by entities qualified to work in the ”Programa Itaú Social” (Itaú Social Program). Instituto Itaú Cultural – promotes and disseminates Brazilian culture in the country and abroad.
Instituto Unibanco – supports projects focused on social assistance, particularly education, culture, promotion of integration to labor market, and environmental protection, on a direct and/or supplementary basis, through the civil
society’s institutions. Instituto Unibanco de Cinema – promotes culture in general and provides access of low-income population to cinematography, videography and similar productions, for which it should maintain movie theaters and movie
clubs owned or managed by itself, and theaters to screen films, videos, video-laser discs and other related activities, as well as to screen and divulge movies in general, especially those produced in Brazil. Associação Itaú Viver
Mais – provides social services for the welfare of beneficiaries, in the way and under conditions established by its Internal Rules, and according to the funds available. These services may include, among others, the promotion of cultural,
educational, sports, entertainment and health care activities. F-105 Itaú Unibanco Holding S.A. c) Result of Non-Current Assets and Main Services and Products by Geographic Region 03/31/2019 12/31/2018 Brazil Abroad Total Brazil Abroad Total
Non-current assets 14,463 12,465 26,928 15,435 11,196 26,631 01/01 to 03/31/2019 01/01 to 03/31/2018 Brazil Abroad Total Brazil Abroad Total (1) (2) Income related to financial operations 29,831 6,389 36,220 29,921 3,515 33,436 Income related to
insurance and private pension operations 1,060 37 1,097 1,016 36 1,052 before claim and selling expenses Banking service fees 8,240 899 9,139 8,043 854 8,897 (1) Includes interest and similar income, dividend income, net gain (loss) on investment
securities and derivatives, foreign exchange results, and exchange variation on transactions. (2) ITAÚ UNIBANCO HOLDING does not have clients representing 10% or higher of its revenues. Note 31 – Related parties Transactions between
related parties are carried out at amounts, terms and average rates in accordance with normal market practices during the period, as well as under reciprocal conditions. Transactions between companies and investment funds, included in consolidation
(note 2.4a), were eliminated and do not have effects on the consolidated statements. The main unconsolidated related parties are as follows: · Itaú Unibanco Participações S.A. (IUPAR), Companhia E.Johnston de
Participações S.A. (shareholder of IUPAR) and ITAÚSA, direct and indirect shareholders of ITAÚ UNIBANCO HOLDING; · The non-financial subsidiaries and joint ventures of ITAÚSA, specially: Itautec S.A., Duratex S.A.,
Itaúsa Empreendimentos S.A. and Alpargatas S.A.; · Investments in associates and joint ventures, and the main ones are: Porto Seguro Itaú Unibanco Participações S.A., BSF Holding S.A., IRB-Brasil Resseguros S.A. and XP
Investimentos S.A.; · Fundação Itaú Unibanco - Previdência Complementar and FUNBEP – Fundo de Pensão Multipatrocinado, closed-end supplementary pension entities, that administer retirement plans sponsored by
ITAÚ UNIBANCO HOLDING, created exclusively for employees; · Foundations and Institutes maintained by ITAÚ UNIBANCO HOLDING’s donations and by the proceedings generated by its assets to accomplish its purposed, as well as to
maintain the operational and administrative structure: Fundação Itaú Social – manages the “Itaú Social Program”, which aims at coordinating the organization’s role in projects of interest to the community
by supporting or developing social, scientific and cultural projects, mainly in the elementary education and health areas and supports projects or initiatives in progress, supported or sponsored by entities qualified to work in the ”Programa
Itaú Social” (Itaú Social Program). Instituto Itaú Cultural – promotes and disseminates Brazilian culture in the country and abroad. Instituto Unibanco – supports projects focused on social assistance, particularly
education, culture, promotion of integration to labor market, and environmental protection, on a direct and/or supplementary basis, through the civil society’s institutions. Instituto Unibanco de Cinema – promotes culture in general and
provides access of low-income population to cinematography, videography and similar productions, for which it should maintain movie theaters and movie clubs owned or managed by itself, and theaters to screen films, videos, video-laser discs and
other related activities, as well as to screen and divulge movies in general, especially those produced in Brazil. Associação Itaú Viver Mais – provides social services for the welfare of beneficiaries, in the way and under
conditions established by its Internal Rules, and according to the funds available. These services may include, among others, the promotion of cultural, educational, sports, entertainment and health care activities. F-105
Itaú Unibanco Holding S.A. · Associação Cubo
Coworking Itaú – partner entity of ITAÚ UNIBANCO HOLDING which purpose is to encourage and promote: discussions, the development of alternative and innovative technologies, business models and solutions; the production and
dissemination of the resulting technical and scientific knowledge; the attraction and gathering of new information technology talents that may be characterized as startups; research, development and establishment of ecosystems for entrepreneurship
and startups. a) Transactions with related parties: ITAÚ UNIBANCO HOLDING Assets / (Liabilities) Revenue / (Expenses) Annual rate 01/01 to 01/01 to 03/31/2019 12/31/2018 03/31/2019 03/31/2018 Loan operations 110 144 13 1 2.35% to 6% Other 110
144 13 1 Deposits - (70) - - Other - ( 70) - - Deposits received under securities repurchase agreements (181) ( 29) (3) - 76% to 97.5% CDI Duratex S.A. (38) ( 19) - - 75% to 96% CDI Other (143) ( 10) (3) - Amounts receivable from (payable to)
related companies / Banking (90) (92) 13 11 service fees (expenses) Fundação Itaú Unibanco - Previdência Complementar (95) ( 98) 13 12 Other 5 6 - ( 1) Rent revenues (expenses) - - (12) (12) Fundação Itaú Unibanco
- Previdência Complementar - - (9) (9) Other - - (3) ( 3) Sponsorship expenses - - - ( 19) Associação Cubo Coworking Itaú - - - (19) Donation expenses - - (35) ( 25) Instituto Itaú Cultural - - (35) (25) b) Compensation and
Benefits of Key Management Personnel Compensation and benefits attributed to Management Members, members of the Audit Committee and the Board of Directors of ITAÚ UNIBANCO HOLDING in the period correspond to: 01/01 to 01/01 to 03/31/2019
03/31/2018 Fees (138) (140) Profit sharing (92) (44) (4) (3) Post-employment benefits (81) (32) Granting of the Share-based payment Total (315) (219) Total amounts related to stock-based compensation plan, personnel expenses and post-employment
benefits is detailed in Notes 20, 23 and 26, respectively. F-106 Itaú Unibanco Holding S.A. · Associação Cubo Coworking Itaú – partner entity of ITAÚ UNIBANCO HOLDING which purpose is to encourage and promote:
discussions, the development of alternative and innovative technologies, business models and solutions; the production and dissemination of the resulting technical and scientific knowledge; the attraction and gathering of new information technology
talents that may be characterized as startups; research, development and establishment of ecosystems for entrepreneurship and startups. a) Transactions with related parties: ITAÚ UNIBANCO HOLDING Assets / (Liabilities) Revenue / (Expenses)
Annual rate 01/01 to 01/01 to 03/31/2019 12/31/2018 03/31/2019 03/31/2018 Loan operations 110 144 13 1 2.35% to 6% Other 110 144 13 1 Deposits - (70) - - Other - ( 70) - - Deposits received under securities repurchase agreements (181) ( 29) (3) -
76% to 97.5% CDI Duratex S.A. (38) ( 19) - - 75% to 96% CDI Other (143) ( 10) (3) - Amounts receivable from (payable to) related companies / Banking (90) (92) 13 11 service fees (expenses) Fundação Itaú Unibanco - Previdência
Complementar (95) ( 98) 13 12 Other 5 6 - ( 1) Rent revenues (expenses) - - (12) (12) Fundação Itaú Unibanco - Previdência Complementar - - (9) (9) Other - - (3) ( 3) Sponsorship expenses - - - ( 19) Associação Cubo
Coworking Itaú - - - (19) Donation expenses - - (35) ( 25) Instituto Itaú Cultural - - (35) (25) b) Compensation and Benefits of Key Management Personnel Compensation and benefits attributed to Management Members, members of the Audit
Committee and the Board of Directors of ITAÚ UNIBANCO HOLDING in the period correspond to: 01/01 to 01/01 to 03/31/2019 03/31/2018 Fees (138) (140) Profit sharing (92) (44) (4) (3) Post-employment benefits (81) (32) Granting of the Share-based
payment Total (315) (219) Total amounts related to stock-based compensation plan, personnel expenses and post-employment benefits is detailed in Notes 20, 23 and 26, respectively. F-106
Itaú Unibanco Holding S.A. Note 32 – Risk and Capital
Management a) Corporate Governance ITAÚ UNIBANCO HOLDING invests in sound processes for risk and capital management that permeates the whole institution and are the basis of all strategic decisions to ensure business sustainability. These
processes are aligned with the guidelines of the Board of Directors and Executives that, through corporate bodies, define the global objectives that are measured as goals and limits to the risk management units. Control and capital management units,
in turn, support the ITAÚ UNIBANCO HOLDING management by monitoring and analyzing risk and capital. The Board of Directors is the main body responsible for establishing guidelines, policies, and approval levels for risk and capital management.
The Capital and Risk Management Committee (CGRC), in turn, is responsible for supporting the Board of Directors in the performance of its assignments related to capital and risk management. In the executive level, collegiate bodies, presided over by
the Chief Executive Officer (CEO) of ITAÚ UNIBANCO HOLDING, are responsible for capital and risk management and which decisions are monitored in the scope of CGRC. Additionally, the institution has panels collegiate bodies, which exercise the
responsibilities delegated in capital and risk management, presided over by the Executive Vice-President of the Risk and Finance Department (ARF). To support this structure, ARF has specialized executive boards to ensure, on an independent and
centralized basis, that the institution’s risks and capital are managed in compliance with policies and procedures established. b) Risk Management Risk Appetite The risk appetite of ITAÚ UNIBANCO HOLDING is based on the Board of
Director’s statement: “We are a universal bank, operating mainly in Latin America. Supported by our risk culture, we act with strict ethical standard and regulatory compliance, in search for high and increasing results, with low
volatility, through long-lasting relationship with the client, correct risk pricing, pulverized funding and proper use of capital.” Based on this statement, five dimensions have been established, each dimension is made up of a set of metrics
associated with the main risks involved, combining supplementary measurement methods, in search for a comprehensive vision of our exposures. The Board of Directors is responsible for approving guidelines and limits for risk appetite, exercising its
activities with the support of CGRC and CRO - Chief Risk Officer. The limits for risk appetite are frequently monitored and reported to risk committees and to the Board of Directors, which will guide the preventive measures to be taken to ensure
that exposures are aligned with the strategies of ITAÚ UNIBANCO HOLDING. The five dimensions of risk appetite are: · Capitalization: establishes that ITAÚ UNIBANCO HOLDING must have capital sufficient to face any serious recession
period or a stress event without the need to adjust its capital structure under unfavorable circumstances. It is monitored through the follow-up of ITAÚ UNIBANCO HOLDING’s capital ratios, both in normal and stress scenarios, and of the
ratings of the institution's debt issues. · Liquidity: establishes that the liquidity of ITAÚ UNIBANCO HOLDING must withstand long stress periods. It is monitored through the follow-up of liquidity ratios. · Composition of results:
defines that business will be focused primarily in Latin America, where ITAÚ UNIBANCO HOLDING has a diversified base of clients and products, with low appetite for volatility of results and high risks. This dimension comprises aspects related
to business and profitability, and market and credit risks. By adopting exposure concentration limits, such as industry sectors, counterparty quality, countries and geographical regions and risk factors, these monitored metrics seek to ensure the
proper composition of portfolios, aimed at the low volatility of results and business sustainability. · Operational risk: focuses on the control of operational risk events that may adversely impact the operation and business strategy, and is
carried out by monitoring the main operational risk events and incurred losses. F-107 Itaú Unibanco Holding S.A. Note 32 – Risk and Capital Management a) Corporate Governance ITAÚ UNIBANCO HOLDING invests in sound processes for risk
and capital management that permeates the whole institution and are the basis of all strategic decisions to ensure business sustainability. These processes are aligned with the guidelines of the Board of Directors and Executives that, through
corporate bodies, define the global objectives that are measured as goals and limits to the risk management units. Control and capital management units, in turn, support the ITAÚ UNIBANCO HOLDING management by monitoring and analyzing risk and
capital. The Board of Directors is the main body responsible for establishing guidelines, policies, and approval levels for risk and capital management. The Capital and Risk Management Committee (CGRC), in turn, is responsible for supporting the
Board of Directors in the performance of its assignments related to capital and risk management. In the executive level, collegiate bodies, presided over by the Chief Executive Officer (CEO) of ITAÚ UNIBANCO HOLDING, are responsible for capital
and risk management and which decisions are monitored in the scope of CGRC. Additionally, the institution has panels collegiate bodies, which exercise the responsibilities delegated in capital and risk management, presided over by the Executive
Vice-President of the Risk and Finance Department (ARF). To support this structure, ARF has specialized executive boards to ensure, on an independent and centralized basis, that the institution’s risks and capital are managed in compliance
with policies and procedures established. b) Risk Management Risk Appetite The risk appetite of ITAÚ UNIBANCO HOLDING is based on the Board of Director’s statement: “We are a universal bank, operating mainly in Latin America.
Supported by our risk culture, we act with strict ethical standard and regulatory compliance, in search for high and increasing results, with low volatility, through long-lasting relationship with the client, correct risk pricing, pulverized funding
and proper use of capital.” Based on this statement, five dimensions have been established, each dimension is made up of a set of metrics associated with the main risks involved, combining supplementary measurement methods, in search for a
comprehensive vision of our exposures. The Board of Directors is responsible for approving guidelines and limits for risk appetite, exercising its activities with the support of CGRC and CRO - Chief Risk Officer. The limits for risk appetite are
frequently monitored and reported to risk committees and to the Board of Directors, which will guide the preventive measures to be taken to ensure that exposures are aligned with the strategies of ITAÚ UNIBANCO HOLDING. The five dimensions of
risk appetite are: · Capitalization: establishes that ITAÚ UNIBANCO HOLDING must have capital sufficient to face any serious recession period or a stress event without the need to adjust its capital structure under unfavorable
circumstances. It is monitored through the follow-up of ITAÚ UNIBANCO HOLDING’s capital ratios, both in normal and stress scenarios, and of the ratings of the institution's debt issues. · Liquidity: establishes that the liquidity of
ITAÚ UNIBANCO HOLDING must withstand long stress periods. It is monitored through the follow-up of liquidity ratios. · Composition of results: defines that business will be focused primarily in Latin America, where ITAÚ UNIBANCO
HOLDING has a diversified base of clients and products, with low appetite for volatility of results and high risks. This dimension comprises aspects related to business and profitability, and market and credit risks. By adopting exposure
concentration limits, such as industry sectors, counterparty quality, countries and geographical regions and risk factors, these monitored metrics seek to ensure the proper composition of portfolios, aimed at the low volatility of results and
business sustainability. · Operational risk: focuses on the control of operational risk events that may adversely impact the operation and business strategy, and is carried out by monitoring the main operational risk events and incurred losses.
F-107
Itaú Unibanco Holding S.A. · Reputation: addresses risks that
may impact the institution’s brand value and reputation with clients, employees, regulatory bodies, investors and the general public. The risk monitoring in this dimension is carried out by the follow-up of client satisfaction and
dissatisfaction and media exposure, in addition to monitoring the institution’s conduct. Substantiation for risk appetite, risk management and guidelines for activities of employees of ITAÚ UNIBANCO HOLDING the day-to-day for
decision-making purposes are as follows: · Sustainability and client satisfaction: ITAÚ UNIBANCO HOLDING vision is to be the leading bank in sustainable performance and client satisfaction and, therefore, it is committed to creating shared
value to employees, clients, stockholders, and society, ensuring the continuity of business. ITAÚ UNIBANCO HOLDING is committed to do business that is good both for the client and the institution itself; · Risk Culture: ITAÚ UNIBANCO
HOLDING’s risk culture goes beyond policies, procedures or processes, as it strengthens the individual and collective responsibility of all employees so they do the right thing at the right moment and on the proper way, by respecting the
ethical way of doing business; · Risk pricing: ITAÚ UNIBANCO HOLDING’s acts and assumes risks in business it knows and understands, avoiding risks that are unknown to the institution or that do not have a competitive edge, therefore
carefully assessing the risk-return ratio; · Diversification: ITAÚ UNIBANCO HOLDING has low appetite to volatility in results and, therefore, it operates with a diversified base of clients, products and business, seeking to diversify risks
and giving priority to lower risk business. · Operational excellence: It is the wish of ITAÚ UNIBANCO HOLDING to be an agile bank, with a robust and stable infrastructure to offer top services; · Ethics and respect for regulation: for
ITAÚ UNIBANCO HOLDING, ethics is non-negotiable, and, therefore, the institute promotes an institutional environment that has integrity, guiding employees to cultivate ethics in relationships and business, and the respect for rules, as it
cultivates the care for the institution’s reputation; ITAÚ UNIBANCO HOLDING adopts several initiatives to disseminate risk culture, based on four principles: conscious risk-taking, discussion of the risks the institution faces, the
corresponding action taken, and the responsibility of everyone to manage risks. These principles lay down the basis for ITAÚ UNIBANCO HOLDING guidelines by helping employees to consciously understand, identify, measure, manage and mitigate
risks. 1. Credit risk Possibility of losses arising from the breach by the borrower, issuer or counterparty of the respective agreed-upon financial obligations, the devaluation of loan agreement due to downgrading of the borrower’s, the
issuer’s, the counterparty’s risk rating, the reduction in gains or compensation, the advantages given upon posterior renegotiation and the recovery costs. There is a credit risk control and management structure, centralized and
independent from the business units, that provides for operational limits and risk mitigating mechanisms, in addition to establishing processes and tools to measure, monitor and control the credit risk inherent in all products, portfolio
concentrations and impacts of potential changes in the economic environment. The credit policy of ITAÚ UNIBANCO HOLDING is based on internal criteria such as: classification of clients, performance and portfolio evolution, default levels,
return rate and economic capital allocated, among other external factors, such as interest rates, market default indicators, inflation, consumption variation, among others. For individual, small and middle-market companies, credit rating is
attributed based on application statistical models (in the early phases of relationship with the client) and behavior score (used for clients with which ITAÚ UNIBANCO HOLDING already has a relationship). F-108 Itaú Unibanco Holding S.A.
· Reputation: addresses risks that may impact the institution’s brand value and reputation with clients, employees, regulatory bodies, investors and the general public. The risk monitoring in this dimension is carried out by the follow-up
of client satisfaction and dissatisfaction and media exposure, in addition to monitoring the institution’s conduct. Substantiation for risk appetite, risk management and guidelines for activities of employees of ITAÚ UNIBANCO HOLDING the
day-to-day for decision-making purposes are as follows: · Sustainability and client satisfaction: ITAÚ UNIBANCO HOLDING vision is to be the leading bank in sustainable performance and client satisfaction and, therefore, it is committed to
creating shared value to employees, clients, stockholders, and society, ensuring the continuity of business. ITAÚ UNIBANCO HOLDING is committed to do business that is good both for the client and the institution itself; · Risk Culture:
ITAÚ UNIBANCO HOLDING’s risk culture goes beyond policies, procedures or processes, as it strengthens the individual and collective responsibility of all employees so they do the right thing at the right moment and on the proper way, by
respecting the ethical way of doing business; · Risk pricing: ITAÚ UNIBANCO HOLDING’s acts and assumes risks in business it knows and understands, avoiding risks that are unknown to the institution or that do not have a competitive
edge, therefore carefully assessing the risk-return ratio; · Diversification: ITAÚ UNIBANCO HOLDING has low appetite to volatility in results and, therefore, it operates with a diversified base of clients, products and business, seeking to
diversify risks and giving priority to lower risk business. · Operational excellence: It is the wish of ITAÚ UNIBANCO HOLDING to be an agile bank, with a robust and stable infrastructure to offer top services; · Ethics and respect for
regulation: for ITAÚ UNIBANCO HOLDING, ethics is non-negotiable, and, therefore, the institute promotes an institutional environment that has integrity, guiding employees to cultivate ethics in relationships and business, and the respect for
rules, as it cultivates the care for the institution’s reputation; ITAÚ UNIBANCO HOLDING adopts several initiatives to disseminate risk culture, based on four principles: conscious risk-taking, discussion of the risks the institution
faces, the corresponding action taken, and the responsibility of everyone to manage risks. These principles lay down the basis for ITAÚ UNIBANCO HOLDING guidelines by helping employees to consciously understand, identify, measure, manage and
mitigate risks. 1. Credit risk Possibility of losses arising from the breach by the borrower, issuer or counterparty of the respective agreed-upon financial obligations, the devaluation of loan agreement due to downgrading of the borrower’s,
the issuer’s, the counterparty’s risk rating, the reduction in gains or compensation, the advantages given upon posterior renegotiation and the recovery costs. There is a credit risk control and management structure, centralized and
independent from the business units, that provides for operational limits and risk mitigating mechanisms, in addition to establishing processes and tools to measure, monitor and control the credit risk inherent in all products, portfolio
concentrations and impacts of potential changes in the economic environment. The credit policy of ITAÚ UNIBANCO HOLDING is based on internal criteria such as: classification of clients, performance and portfolio evolution, default levels,
return rate and economic capital allocated, among other external factors, such as interest rates, market default indicators, inflation, consumption variation, among others. For individual, small and middle-market companies, credit rating is
attributed based on application statistical models (in the early phases of relationship with the client) and behavior score (used for clients with which ITAÚ UNIBANCO HOLDING already has a relationship). F-108
Itaú Unibanco Holding S.A. For large companies, the rating is based
on information such as economic and financial condition of the counterparty, their cash-generating capability, the economic group to which they belong, and the current and prospective situation of the economic sector in which they operate. The
credit proposals are analyzed on a case by case basis, through an approval-level mechanism. In compliance with CMN Resolution 4,557, of February 23, 2017, the document “Public Access Report – Credit Risk“, which includes the
guidelines established by the institutional credit risk control policy can be viewed at www.itau.com.br/investor-relations, under Corporate Governance, Regulations and Policies. ITAÚ UNIBANCO HOLDING strictly controls the credit exposure of
clients and counterparties, taking action to address situations in which the actual exposure exceeds the desired one. For this purpose, contractually provided actions can be taken, such as early settlement or requirement of additional collateral.
1.1 Collateral and policies for mitigating credit risk ITAÚ UNIBANCO HOLDING uses guarantees to increase its capacity for recovery in operations exposed to credit risk. The guarantees may be personal, secured, legal structures with mitigating
power and offset agreements. For collateral to be considered instruments that mitigate credit risk, they must comply with the requirements and standards that regulate them, be them internal or external ones, be legally valid (effective),
enforceable, and assessed on a regular basis. ITAÚ UNIBANCO HOLDING also uses credit derivatives, to mitigate credit risk of its portfolios of loans and securities. These instruments are priced based on models that use the fair value of market
inputs, such as credit spreads, recovery rates, correlations and interest rates. 1.2 Policy on the provision and Economic scenarios Both the credit risk and the finance areas are responsible for defining the methodologies used to measure the
allowance for loan losses and for assessing changes in the provision amounts on a recurring basis. These areas monitor the trends observed in expected credit loss by segment level, in addition to establishing an initial understanding of the
variables that may trigger changes in the allowance for loan losses, the probability of default or the loss given default. Once the trends have been identified and an initial assessment of the variables has been made at the corporate level, the
business areas are responsible for further analyzing these observed trends at a detailed level and for each portfolio, in order to understand the underlying reasons for the trends observed and for deciding whether changes are required in the credit
policies. The provisions for expected losses are recognized considering the expected risk linked to contracts with similar characteristics and in anticipation of impairment signs, considering a loss horizon adequate to the remaining period of the
contract termination. For contracts of products with no determined termination date, average results of impairment and default are used to determine the loss horizon. Additionally, information on economic scenarios and public information with
internally developed information are used to determine and affect the expected credit loss, adjusting loss levels to expected macroeconomic realities. 1.3 Classification of Stages of Credit Impairment ITAÚ UNIBANCO HOLDING considers
clients’ internal information, statistic models, days of default, and quantitative analysis in order to determine the credit status of portfolio agreements. Rules for change of stage consider lower and higher internal ratings (quantitative
criteria), in addition to a relative variation of ratings since the initial recognition. Information on days of delay, used on an absolute basis, is an important factor for the classification of stages, and after a certain credit status of the
agreement is determined, the classification in one of the three stages of credit deterioration is established. Based on this classification, rules for measurement of expected credit loss determined for each stage are used, as described in Note 2.4e.
F-109 Itaú Unibanco Holding S.A. For large companies, the rating is based on information such as economic and financial condition of the counterparty, their cash-generating capability, the economic group to which they belong, and the current
and prospective situation of the economic sector in which they operate. The credit proposals are analyzed on a case by case basis, through an approval-level mechanism. In compliance with CMN Resolution 4,557, of February 23, 2017, the document
“Public Access Report – Credit Risk“, which includes the guidelines established by the institutional credit risk control policy can be viewed at www.itau.com.br/investor-relations, under Corporate Governance, Regulations and
Policies. ITAÚ UNIBANCO HOLDING strictly controls the credit exposure of clients and counterparties, taking action to address situations in which the actual exposure exceeds the desired one. For this purpose, contractually provided actions can
be taken, such as early settlement or requirement of additional collateral. 1.1 Collateral and policies for mitigating credit risk ITAÚ UNIBANCO HOLDING uses guarantees to increase its capacity for recovery in operations exposed to credit risk.
The guarantees may be personal, secured, legal structures with mitigating power and offset agreements. For collateral to be considered instruments that mitigate credit risk, they must comply with the requirements and standards that regulate them, be
them internal or external ones, be legally valid (effective), enforceable, and assessed on a regular basis. ITAÚ UNIBANCO HOLDING also uses credit derivatives, to mitigate credit risk of its portfolios of loans and securities. These instruments
are priced based on models that use the fair value of market inputs, such as credit spreads, recovery rates, correlations and interest rates. 1.2 Policy on the provision and Economic scenarios Both the credit risk and the finance areas are
responsible for defining the methodologies used to measure the allowance for loan losses and for assessing changes in the provision amounts on a recurring basis. These areas monitor the trends observed in expected credit loss by segment level, in
addition to establishing an initial understanding of the variables that may trigger changes in the allowance for loan losses, the probability of default or the loss given default. Once the trends have been identified and an initial assessment of the
variables has been made at the corporate level, the business areas are responsible for further analyzing these observed trends at a detailed level and for each portfolio, in order to understand the underlying reasons for the trends observed and for
deciding whether changes are required in the credit policies. The provisions for expected losses are recognized considering the expected risk linked to contracts with similar characteristics and in anticipation of impairment signs, considering a
loss horizon adequate to the remaining period of the contract termination. For contracts of products with no determined termination date, average results of impairment and default are used to determine the loss horizon. Additionally, information on
economic scenarios and public information with internally developed information are used to determine and affect the expected credit loss, adjusting loss levels to expected macroeconomic realities. 1.3 Classification of Stages of Credit Impairment
ITAÚ UNIBANCO HOLDING considers clients’ internal information, statistic models, days of default, and quantitative analysis in order to determine the credit status of portfolio agreements. Rules for change of stage consider lower and
higher internal ratings (quantitative criteria), in addition to a relative variation of ratings since the initial recognition. Information on days of delay, used on an absolute basis, is an important factor for the classification of stages, and
after a certain credit status of the agreement is determined, the classification in one of the three stages of credit deterioration is established. Based on this classification, rules for measurement of expected credit loss determined for each stage
are used, as described in Note 2.4e. F-109
Itaú Unibanco Holding S.A. For Retail and middle business
portfolios, ITAÚ UNIBANCO HOLDING classifies loan agreements which are over 30 days overdue in stage 2, except payroll loans for public bodies, which recognition is carried out after 45 overdue, due to the payment dynamics for product
onlending. For the Wholesale business portfolio, information on delay is considered in the rating assessment. (*) Default parameters are: 90 days with no payment record ; debt restructuring; adjudication of bankruptcy; loss; and court-ordered
reorganization. (*) For mortgage loan portfolio, 180 days without payment record are considered. 1.4 Maximum Exposure of Financial Assets to Credit Risk 03/31/2019 12/31/2018 Brazil Abroad Total Brazil Abroad Total Financial Assets 1,024,377 303,478
1,327,855 1,027,193 303,535 1,330,728 At Amortized Cost 748,339 241,724 990,063 756,993 237,766 994,759 Interbank deposits 6,713 19,612 26,325 6,239 20,181 26,420 Securities purchased under agreements to resell 466 259,595 783 280,136 259,129
279,353 Securities 113,924 110,395 93,751 20,173 90,234 20,161 Loan operations and lease operations 352,561 194,611 547,172 345,501 190,590 536,091 Other financial assets 62,075 14,258 76,333 61,875 13,215 75,090 (-) Provision for Expected Loss
(25,890) (7,396) (33,286) (26,209) (7,164) (33,373) At Fair Value Through Other Comprehensive Income 15,336 36,275 51,611 9,089 40,234 49,323 Securities 15,336 36,275 51,611 9,089 40,234 49,323 At Fair Value Through Profit or Loss 260,702 25,479
286,181 261,111 25,535 286,646 Securities 251,171 10,926 262,097 252,819 10,361 263,180 Derivatives 9,531 14,553 24,084 8,292 15,174 23,466 Financial liabilities - provision for expected loss 3,441 437 3,878 3,355 437 3,792 Loan Commitments 2,356
314 2,670 2,289 312 2,601 Financial Guarantees 1,085 123 1,208 1,066 125 1,191 Off balance sheet 307,738 48,654 356,392 300,522 49,173 349,695 Financial Guarantees 52,640 12,741 65,381 53,443 12,662 66,105 Letters of credit to be released 12,661 -
12,661 10,747 - 10,747 Loan commitments 242,437 35,913 278,350 236,332 36,511 272,843 Mortgage loans 3,463 - 3,463 3,403 - 3,403 Overdraft accounts 112,892 - 112,892 110,454 - 110,454 Credit cards 124,336 2,865 127,201 120,862 2,961 123,823 Other
pre-approved limits 1,746 33,048 34,794 1,613 33,550 35,163 Total 1,328,674 351,695 1,680,369 1,324,360 352,271 1,676,631 F-110 Itaú Unibanco Holding S.A. For Retail and middle business portfolios, ITAÚ UNIBANCO HOLDING classifies loan
agreements which are over 30 days overdue in stage 2, except payroll loans for public bodies, which recognition is carried out after 45 overdue, due to the payment dynamics for product onlending. For the Wholesale business portfolio, information on
delay is considered in the rating assessment. (*) Default parameters are: 90 days with no payment record ; debt restructuring; adjudication of bankruptcy; loss; and court-ordered reorganization. (*) For mortgage loan portfolio, 180 days without
payment record are considered. 1.4 Maximum Exposure of Financial Assets to Credit Risk 03/31/2019 12/31/2018 Brazil Abroad Total Brazil Abroad Total Financial Assets 1,024,377 303,478 1,327,855 1,027,193 303,535 1,330,728 At Amortized Cost 748,339
241,724 990,063 756,993 237,766 994,759 Interbank deposits 6,713 19,612 26,325 6,239 20,181 26,420 Securities purchased under agreements to resell 466 259,595 783 280,136 259,129 279,353 Securities 113,924 110,395 93,751 20,173 90,234 20,161 Loan
operations and lease operations 352,561 194,611 547,172 345,501 190,590 536,091 Other financial assets 62,075 14,258 76,333 61,875 13,215 75,090 (-) Provision for Expected Loss (25,890) (7,396) (33,286) (26,209) (7,164) (33,373) At Fair Value
Through Other Comprehensive Income 15,336 36,275 51,611 9,089 40,234 49,323 Securities 15,336 36,275 51,611 9,089 40,234 49,323 At Fair Value Through Profit or Loss 260,702 25,479 286,181 261,111 25,535 286,646 Securities 251,171 10,926 262,097
252,819 10,361 263,180 Derivatives 9,531 14,553 24,084 8,292 15,174 23,466 Financial liabilities - provision for expected loss 3,441 437 3,878 3,355 437 3,792 Loan Commitments 2,356 314 2,670 2,289 312 2,601 Financial Guarantees 1,085 123 1,208
1,066 125 1,191 Off balance sheet 307,738 48,654 356,392 300,522 49,173 349,695 Financial Guarantees 52,640 12,741 65,381 53,443 12,662 66,105 Letters of credit to be released 12,661 - 12,661 10,747 - 10,747 Loan commitments 242,437 35,913 278,350
236,332 36,511 272,843 Mortgage loans 3,463 - 3,463 3,403 - 3,403 Overdraft accounts 112,892 - 112,892 110,454 - 110,454 Credit cards 124,336 2,865 127,201 120,862 2,961 123,823 Other pre-approved limits 1,746 33,048 34,794 1,613 33,550 35,163 Total
1,328,674 351,695 1,680,369 1,324,360 352,271 1,676,631 F-110
Itaú Unibanco Holding S.A. Amounts exposed to credit risk presented
are based on gross book value and do not consider any collateral received or other added credit improvements. The contractual amounts of financial collaterals and credit cards represent the maximum potential of credit risk in the event the
counterparty does not meet the terms of the agreement. The vast majority of loan commitments (mortgage loans, overdraft accounts and other pre-approved limits) mature without being drawn, since they are renewed monthly and they may be cancelled
unilaterally. As a result, the total contractual amount does not represent our effective future exposure to credit risk or the liquidity needs arising from such commitments. 1.4.1. By business sector Loan Operations and Lease Operations 03/31/2019 %
12/31/2018 % Industry and commerce 118,377 21.6 115,225 21.5 Services 121,863 22.3 119,487 22.3 Other sectors 29,614 5.4 29,388 5.5 Individuals 277,318 50.7 271,991 50.7 Total 547,172 100.0 536,091 100.0 (*) Other financial assets 03/31/2019 %
12/31/2018 % Public sector 334,500 45.4 330,730 43.9 Services 94,025 12.7 92,562 12.3 Other sectors 23,191 3.1 23,072 3.1 Financial 285,920 38.8 306,556 40.7 Total 737,636 100.0 752,920 100.0 (*) Includes Financial Assets at Fair Value through
Profit and Loss, Financial Assets at Fair Value through Other Comprehensive Income and Financial Assets at Amortized Cost, except for loan and finance lease operations. The exposure of Off Balance financial instruments (Financial Collaterals and
Loan Commitments) are neither categorized nor managed by business sector. F-111 Itaú Unibanco Holding S.A. Amounts exposed to credit risk presented are based on gross book value and do not consider any collateral received or other added credit
improvements. The contractual amounts of financial collaterals and credit cards represent the maximum potential of credit risk in the event the counterparty does not meet the terms of the agreement. The vast majority of loan commitments (mortgage
loans, overdraft accounts and other pre-approved limits) mature without being drawn, since they are renewed monthly and they may be cancelled unilaterally. As a result, the total contractual amount does not represent our effective future exposure to
credit risk or the liquidity needs arising from such commitments. 1.4.1. By business sector Loan Operations and Lease Operations 03/31/2019 % 12/31/2018 % Industry and commerce 118,377 21.6 115,225 21.5 Services 121,863 22.3 119,487 22.3 Other
sectors 29,614 5.4 29,388 5.5 Individuals 277,318 50.7 271,991 50.7 Total 547,172 100.0 536,091 100.0 (*) Other financial assets 03/31/2019 % 12/31/2018 % Public sector 334,500 45.4 330,730 43.9 Services 94,025 12.7 92,562 12.3 Other sectors 23,191
3.1 23,072 3.1 Financial 285,920 38.8 306,556 40.7 Total 737,636 100.0 752,920 100.0 (*) Includes Financial Assets at Fair Value through Profit and Loss, Financial Assets at Fair Value through Other Comprehensive Income and Financial Assets at
Amortized Cost, except for loan and finance lease operations. The exposure of Off Balance financial instruments (Financial Collaterals and Loan Commitments) are neither categorized nor managed by business sector. F-111
Itaú Unibanco Holding S.A. 1.4.2 By type and classification of
credit risk Operations and lease operations 03/31/2019 Stage 1 Stage 2 Stage 3 Total Consolidated of 3 stages Loan Loan Financial Loan Loan Financial Loan Loan Financial Loan Loan Financial Total Total Total Total Operations commitments Guarantees
Operations commitments Guarantees Operations commitments Guarantees Operations commitments Guarantees Individuals 180,066 178,067 1,003 359,136 18,483 7,499 - 25,982 18,267 669 - 18,936 216,816 186,235 1,003 404,054 Credit card 63,216 112,823 -
176,039 9,409 6,525 - 15,934 4,610 579 - 5,189 77,235 119,927 - 197,162 Personal loans 15,339 65,201 1,003 81,543 4,953 974 - 5,927 11,146 90 - 11,236 31,438 66,265 1,003 98,706 Payroll loans 46,190 - - 46,190 956 - - 956 1,689 - - 1,689 48,835 - -
48,835 Vehicles 14,925 - - 14,925 1,108 - - 1,108 537 - - 537 16,570 - - 16,570 Mortgage loans 40,396 43 - 40,439 2,057 - - 2,057 285 - - 285 42,738 43 - 42,781 Corporate 91,684 15,799 44,616 152,099 1,457 68 1,707 3,232 9,684 113 4,019 13,816
102,825 15,980 50,342 169,147 Small and medium businesses 60,199 41,877 2,669 104,745 6,160 1,930 49 8,139 5,615 205 49 5,869 71,974 44,012 2,767 118,753 Foreign loans - Latin America 139,179 29,607 10,916 179,702 10,397 2,262 329 12,988 5,981 254
24 6,259 155,557 32,123 11,269 198,949 Total 471,128 265,350 59,204 795,682 36,497 11,759 2,085 50,341 39,547 1,241 4,092 44,880 547,172 278,350 65,381 890,903 % 59.2% 33.4% 7.4% 100.0% 72.5% 23.4% 4.1% 100.0% 88.1% 2.8% 9.1% 100.0% 61.4% 31.3% 7.3%
100.0% 12/31/2018 Stage 1 Stage 2 Stage 3 Total Consolidated of 3 stages Loan Loan Financial Loan Loan Financial Loan Loan Financial Loan Loan Financial Total Total Total Total Operations commitments Guarantees Operations commitments Guarantees
Operations commitments Guarantees Operations commitments Guarantees Individuals 177,488 174,666 1,014 353,168 17,029 6,784 - 23,813 18,047 687 - 18,734 212,564 182,137 1,014 395,715 Credit card 65,227 110,435 - 175,662 8,489 5,719 - 14,208 4,539 594
- 5,133 78,255 116,748 - 195,003 Personal loans 14,125 64,201 1,014 79,340 4,427 1,064 - 5,491 10,991 93 - 11,084 29,543 65,358 1,014 95,915 Payroll loans 44,156 - - 44,156 1,024 - - 1,024 1,698 - - 1,698 46,878 - - 46,878 Vehicles 14,353 - - 14,353
1,022 - - 1,022 545 - - 545 15,920 - - 15,920 Mortgage loans 39,627 30 - 39,657 2,067 1 - 2,068 274 - - 274 41,968 31 - 41,999 Corporate 90,716 16,054 45,361 152,131 2,222 83 1,681 3,986 9,705 143 4,148 13,996 102,643 16,280 51,190 170,113 Small and
medium businesses 57,099 40,105 2,472 99,676 5,875 1,834 69 7,778 5,838 185 94 6,117 68,812 42,124 2,635 113,571 Foreign loans - Latin America 134,323 29,090 10,842 174,255 11,768 2,969 395 15,132 5,981 243 29 6,253 152,072 32,302 11,266 195,640
Total 459,626 259,915 59,689 779,230 36,894 11,670 2,145 50,709 39,571 1,258 4,271 45,100 536,091 272,843 66,105 875,039 % 59.0% 33.3% 7.7% 100.0% 72.8% 23.0% 4.2% 100.0% 87.7% 2.8% 9.5% 100.0% 61.3% 31.1% 7.6% 100.0% 03/31/2019 12/31/2018 Internal
Rating Stage 1 Stage 2 Stage 3 Total loans Stage 1 Stage 2 Stage 3 Total loans Lower Risk 388,024 4,607 - 392,631 378,389 4,536 - 382,925 Satisfactory 74,784 18,520 - 93,304 72,921 19,723 - 92,644 Higher Risk 8,320 13,370 - 21,690 8,316 12,635 -
20,951 Credit-Impaired - - 39,547 39,547 - - 39,571 39,571 Total 471,128 36,497 39,547 547,172 459,626 36,894 39,571 536,091 % 86.1 6.7 7.2 100.0 85.7 6.9 7.4 100.0 F-112 Itaú Unibanco Holding S.A. 1.4.2 By type and classification of credit
risk Operations and lease operations 03/31/2019 Stage 1 Stage 2 Stage 3 Total Consolidated of 3 stages Loan Loan Financial Loan Loan Financial Loan Loan Financial Loan Loan Financial Total Total Total Total Operations commitments Guarantees
Operations commitments Guarantees Operations commitments Guarantees Operations commitments Guarantees Individuals 180,066 178,067 1,003 359,136 18,483 7,499 - 25,982 18,267 669 - 18,936 216,816 186,235 1,003 404,054 Credit card 63,216 112,823 -
176,039 9,409 6,525 - 15,934 4,610 579 - 5,189 77,235 119,927 - 197,162 Personal loans 15,339 65,201 1,003 81,543 4,953 974 - 5,927 11,146 90 - 11,236 31,438 66,265 1,003 98,706 Payroll loans 46,190 - - 46,190 956 - - 956 1,689 - - 1,689 48,835 - -
48,835 Vehicles 14,925 - - 14,925 1,108 - - 1,108 537 - - 537 16,570 - - 16,570 Mortgage loans 40,396 43 - 40,439 2,057 - - 2,057 285 - - 285 42,738 43 - 42,781 Corporate 91,684 15,799 44,616 152,099 1,457 68 1,707 3,232 9,684 113 4,019 13,816
102,825 15,980 50,342 169,147 Small and medium businesses 60,199 41,877 2,669 104,745 6,160 1,930 49 8,139 5,615 205 49 5,869 71,974 44,012 2,767 118,753 Foreign loans - Latin America 139,179 29,607 10,916 179,702 10,397 2,262 329 12,988 5,981 254
24 6,259 155,557 32,123 11,269 198,949 Total 471,128 265,350 59,204 795,682 36,497 11,759 2,085 50,341 39,547 1,241 4,092 44,880 547,172 278,350 65,381 890,903 % 59.2% 33.4% 7.4% 100.0% 72.5% 23.4% 4.1% 100.0% 88.1% 2.8% 9.1% 100.0% 61.4% 31.3% 7.3%
100.0% 12/31/2018 Stage 1 Stage 2 Stage 3 Total Consolidated of 3 stages Loan Loan Financial Loan Loan Financial Loan Loan Financial Loan Loan Financial Total Total Total Total Operations commitments Guarantees Operations commitments Guarantees
Operations commitments Guarantees Operations commitments Guarantees Individuals 177,488 174,666 1,014 353,168 17,029 6,784 - 23,813 18,047 687 - 18,734 212,564 182,137 1,014 395,715 Credit card 65,227 110,435 - 175,662 8,489 5,719 - 14,208 4,539 594
- 5,133 78,255 116,748 - 195,003 Personal loans 14,125 64,201 1,014 79,340 4,427 1,064 - 5,491 10,991 93 - 11,084 29,543 65,358 1,014 95,915 Payroll loans 44,156 - - 44,156 1,024 - - 1,024 1,698 - - 1,698 46,878 - - 46,878 Vehicles 14,353 - - 14,353
1,022 - - 1,022 545 - - 545 15,920 - - 15,920 Mortgage loans 39,627 30 - 39,657 2,067 1 - 2,068 274 - - 274 41,968 31 - 41,999 Corporate 90,716 16,054 45,361 152,131 2,222 83 1,681 3,986 9,705 143 4,148 13,996 102,643 16,280 51,190 170,113 Small and
medium businesses 57,099 40,105 2,472 99,676 5,875 1,834 69 7,778 5,838 185 94 6,117 68,812 42,124 2,635 113,571 Foreign loans - Latin America 134,323 29,090 10,842 174,255 11,768 2,969 395 15,132 5,981 243 29 6,253 152,072 32,302 11,266 195,640
Total 459,626 259,915 59,689 779,230 36,894 11,670 2,145 50,709 39,571 1,258 4,271 45,100 536,091 272,843 66,105 875,039 % 59.0% 33.3% 7.7% 100.0% 72.8% 23.0% 4.2% 100.0% 87.7% 2.8% 9.5% 100.0% 61.3% 31.1% 7.6% 100.0% 03/31/2019 12/31/2018 Internal
Rating Stage 1 Stage 2 Stage 3 Total loans Stage 1 Stage 2 Stage 3 Total loans Lower Risk 388,024 4,607 - 392,631 378,389 4,536 - 382,925 Satisfactory 74,784 18,520 - 93,304 72,921 19,723 - 92,644 Higher Risk 8,320 13,370 - 21,690 8,316 12,635 -
20,951 Credit-Impaired - - 39,547 39,547 - - 39,571 39,571 Total 471,128 36,497 39,547 547,172 459,626 36,894 39,571 536,091 % 86.1 6.7 7.2 100.0 85.7 6.9 7.4 100.0 F-112
Itaú Unibanco Holding S.A. Other financial assets 03/31/2019 Stage 1
Stage 2 Stage 3 Fair Value Cost Fair Value Cost Fair Value Cost Fair Value Investment funds 3,076 3,131 2,878 - - 924 198 Government securities 333,435 331,293 333,123 368 312 - - Brazilian government 303,486 301,187 303,316 226 170 - - Other Public
- 36 - - - - - Other countries 29,949 30,070 29,807 142 142 - - Argentina 1,445 1,276 1,303 142 142 - - United States 2,274 2,286 2,274 - - - - Mexico 3,218 3,218 3,218 - - - - Italy 111 111 111 - - - - Spain 3,100 3,100 3,100 - - - - Korea 3,038
3,038 3,038 - - - - Chile 7,554 7,548 7,554 - - - - Paraguay 1,492 1,788 1,492 - - - - Uruguay 836 839 836 - - - - Colombia 5,971 5,956 5,971 - - - - France 877 877 877 - - - - Germany 22 22 22 - - - - Other 11 11 11 - - - - Corporate securities
87,461 82,537 82,705 3,795 2,822 4,716 1,934 Rural product note 4,137 3,986 3,977 63 56 179 104 Securitized real estate loans 10,127 9,624 9,652 43 43 796 432 Bank deposit certificate 1,720 1,720 1,720 - - - - Debentures 31,327 27,512 27,266 3,489
2,708 3,485 1,353 Eurobonds and other 6,627 6,629 6,627 - - - - Financial bills 20,468 20,468 20,468 - - - - Promissory notes 1,649 1,651 1,649 - - - - Others 11,406 10,947 11,346 200 15 256 45 423,972 416,961 418,706 4,163 3,134 5,640 2,132 Total
F-113 Itaú Unibanco Holding S.A. Other financial assets 03/31/2019 Stage 1 Stage 2 Stage 3 Fair Value Cost Fair Value Cost Fair Value Cost Fair Value Investment funds 3,076 3,131 2,878 - - 924 198 Government securities 333,435 331,293 333,123
368 312 - - Brazilian government 303,486 301,187 303,316 226 170 - - Other Public - 36 - - - - - Other countries 29,949 30,070 29,807 142 142 - - Argentina 1,445 1,276 1,303 142 142 - - United States 2,274 2,286 2,274 - - - - Mexico 3,218 3,218
3,218 - - - - Italy 111 111 111 - - - - Spain 3,100 3,100 3,100 - - - - Korea 3,038 3,038 3,038 - - - - Chile 7,554 7,548 7,554 - - - - Paraguay 1,492 1,788 1,492 - - - - Uruguay 836 839 836 - - - - Colombia 5,971 5,956 5,971 - - - - France 877 877
877 - - - - Germany 22 22 22 - - - - Other 11 11 11 - - - - Corporate securities 87,461 82,537 82,705 3,795 2,822 4,716 1,934 Rural product note 4,137 3,986 3,977 63 56 179 104 Securitized real estate loans 10,127 9,624 9,652 43 43 796 432 Bank
deposit certificate 1,720 1,720 1,720 - - - - Debentures 31,327 27,512 27,266 3,489 2,708 3,485 1,353 Eurobonds and other 6,627 6,629 6,627 - - - - Financial bills 20,468 20,468 20,468 - - - - Promissory notes 1,649 1,651 1,649 - - - - Others 11,406
10,947 11,346 200 15 256 45 423,972 416,961 418,706 4,163 3,134 5,640 2,132 Total F-113
Itaú Unibanco Holding S.A. 12/31/2018 Stage 1 Stage 2 Stage 3 Fair
Value Cost Fair Value Cost Fair Value Cost Fair Value Investment funds 4,326 4,335 4,129 - - 918 197 Government securities 327,720 325,734 327,546 232 174 - - Brazilian government 300,172 298,120 299,998 232 174 - - Other countries 27,548 27,614
27,548 - - - - Argentina 1,129 1,121 1,129 - - - - United States 2,754 2,770 2,754 - - - - Mexico 2,378 2,378 2,378 - - - - Italy 115 115 115 - - - - Spain 2,411 2,411 2,411 - - - - Korea 1,385 1,385 1,385 - - - - Chile 8,211 8,204 8,211 - - - -
Paraguay 1,530 1,602 1,530 - - - - Uruguay 652 656 652 - - - - Colombia 6,065 6,054 6,065 - - - - France 891 891 891 - - - - Germany 22 22 22 - - - - Other 5 5 5 - - - - Corporate securities 87,206 82,438 82,301 3,908 2,937 4,957 1,968 Rural product
note 4,003 3,855 3,848 - - 326 155 Securitized real estate loans 10,926 10,419 10,436 55 55 793 435 Bank deposit certificate 2,145 2,145 2,145 - - - - Debentures 30,950 27,306 27,068 3,323 2,557 3,563 1,325 Eurobonds and other 6,895 6,950 6,895 - -
- - Financial bills 19,724 19,724 19,724 - - - - Promissory notes 1,490 1,465 1,463 15 15 24 12 Others 11,073 10,574 10,722 515 310 251 41 419,252 412,507 413,976 4,140 3,111 5,875 2,165 Total F-114 Itaú Unibanco Holding S.A. 12/31/2018 Stage 1
Stage 2 Stage 3 Fair Value Cost Fair Value Cost Fair Value Cost Fair Value Investment funds 4,326 4,335 4,129 - - 918 197 Government securities 327,720 325,734 327,546 232 174 - - Brazilian government 300,172 298,120 299,998 232 174 - - Other
countries 27,548 27,614 27,548 - - - - Argentina 1,129 1,121 1,129 - - - - United States 2,754 2,770 2,754 - - - - Mexico 2,378 2,378 2,378 - - - - Italy 115 115 115 - - - - Spain 2,411 2,411 2,411 - - - - Korea 1,385 1,385 1,385 - - - - Chile 8,211
8,204 8,211 - - - - Paraguay 1,530 1,602 1,530 - - - - Uruguay 652 656 652 - - - - Colombia 6,065 6,054 6,065 - - - - France 891 891 891 - - - - Germany 22 22 22 - - - - Other 5 5 5 - - - - Corporate securities 87,206 82,438 82,301 3,908 2,937 4,957
1,968 Rural product note 4,003 3,855 3,848 - - 326 155 Securitized real estate loans 10,926 10,419 10,436 55 55 793 435 Bank deposit certificate 2,145 2,145 2,145 - - - - Debentures 30,950 27,306 27,068 3,323 2,557 3,563 1,325 Eurobonds and other
6,895 6,950 6,895 - - - - Financial bills 19,724 19,724 19,724 - - - - Promissory notes 1,490 1,465 1,463 15 15 24 12 Others 11,073 10,574 10,722 515 310 251 41 419,252 412,507 413,976 4,140 3,111 5,875 2,165 Total F-114
Itaú Unibanco Holding S.A. Other Financial Assets - Internal
Classification by Level of Risk 03/31/2019 Financial Assets - At Amortized Cost Interbank deposits and Financial assets at fair value Financial Assets Fair Value Internal rating securities purchased under Securities through profit or loss at fair
Through Other Total agreements to resell value (*) Comprehensive Income Lower risk 285,920 106,837 285,783 51,611 730,151 Satisfactory - 3,430 68 - 3,498 Higher risk - 3,657 330 - 3,987 285,920 113,924 286,181 51,611 737,636 Total % 38.8 15.4 38.8
7.0 100.0 (*) Includes Derivatives in the amount of R$ 24,084 at 03/31/2019. 12/31/2018 Financial Assets - At Amortized Cost Interbank deposits and Financial assets at fair value Financial Assets Fair Value Internal rating securities purchased under
Securities through profit or loss at fair Through Other Total agreements to resell value (*) Comprehensive Income Lower risk 306,556 103,157 284,896 49,323 743,932 Satisfactory - 3,645 1,340 - 4,985 Higher Risk - 3,593 410 - 4,003 Total 306,556
110,395 286,646 49,323 752,920 % 40.6 14.7 38.1 6.6 100.0 (*) Includes Derivatives in the amount of R$ 23,466 at 12/31/2018. F-115 Itaú Unibanco Holding S.A. Other Financial Assets - Internal Classification by Level of Risk 03/31/2019 Financial
Assets - At Amortized Cost Interbank deposits and Financial assets at fair value Financial Assets Fair Value Internal rating securities purchased under Securities through profit or loss at fair Through Other Total agreements to resell value (*)
Comprehensive Income Lower risk 285,920 106,837 285,783 51,611 730,151 Satisfactory - 3,430 68 - 3,498 Higher risk - 3,657 330 - 3,987 285,920 113,924 286,181 51,611 737,636 Total % 38.8 15.4 38.8 7.0 100.0 (*) Includes Derivatives in the amount of
R$ 24,084 at 03/31/2019. 12/31/2018 Financial Assets - At Amortized Cost Interbank deposits and Financial assets at fair value Financial Assets Fair Value Internal rating securities purchased under Securities through profit or loss at fair Through
Other Total agreements to resell value (*) Comprehensive Income Lower risk 306,556 103,157 284,896 49,323 743,932 Satisfactory - 3,645 1,340 - 4,985 Higher Risk - 3,593 410 - 4,003 Total 306,556 110,395 286,646 49,323 752,920 % 40.6 14.7 38.1 6.6
100.0 (*) Includes Derivatives in the amount of R$ 23,466 at 12/31/2018. F-115
Itaú Unibanco Holding S.A. 1.4.3 Collateral held for loan and lease
operations portfolio 03/31/2019 12/31/2018 Over-collateralized assets Under-collateralized assets Over-collateralized assets Under-collateralized assets Carrying Carrying Carrying Carrying Fair value of Fair value of Fair value of Fair value
of value of the value of the value of the value of the collateral collateral collateral collateral assets assets assets assets Individuals 58,849 147,642 1,290 1,228 57,842 145,775 1,054 993 Personal (1) 532 1,943 935 894 643 1,949 753 711 Vehicles
(2) 15,629 35,609 352 332 15,173 35,266 298 280 Mortgage loans (3) 42,688 110,090 3 2 42,026 108,560 3 2 Small, medium businesses and corporate (4) 113,254 290,864 13,973 10,794 112,508 293,724 13,870 10,267 Foreign loans - Latin America (4) 120,155
252,231 11,277 3,857 117,094 246,462 11,242 3,758 Total 292,258 690,737 26,540 15,879 287,444 685,961 26,166 15,018 (1) In general requires financial collaterals. (2) Vehicles themselves are pledged as collateral, as well as assets leased in lease
operations. (3) Properties themselves are pledged as collateral. (4) Any collateral set forth in the credit policy of ITAÚ UNIBANCO HOLDING (chattel mortgage, surety/joint debtor, mortgage and others). Of total credit and finance lease
operations, R$ 228,374 (R$ 222,481 at 12/31/2018) represented unsecured loans. F-116 Itaú Unibanco Holding S.A. 1.4.3 Collateral held for loan and lease operations portfolio 03/31/2019 12/31/2018 Over-collateralized assets Under-collateralized
assets Over-collateralized assets Under-collateralized assets Carrying Carrying Carrying Carrying Fair value of Fair value of Fair value of Fair value of value of the value of the value of the value of the collateral collateral collateral collateral
assets assets assets assets Individuals 58,849 147,642 1,290 1,228 57,842 145,775 1,054 993 Personal (1) 532 1,943 935 894 643 1,949 753 711 Vehicles (2) 15,629 35,609 352 332 15,173 35,266 298 280 Mortgage loans (3) 42,688 110,090 3 2 42,026
108,560 3 2 Small, medium businesses and corporate (4) 113,254 290,864 13,973 10,794 112,508 293,724 13,870 10,267 Foreign loans - Latin America (4) 120,155 252,231 11,277 3,857 117,094 246,462 11,242 3,758 Total 292,258 690,737 26,540 15,879
287,444 685,961 26,166 15,018 (1) In general requires financial collaterals. (2) Vehicles themselves are pledged as collateral, as well as assets leased in lease operations. (3) Properties themselves are pledged as collateral. (4) Any collateral set
forth in the credit policy of ITAÚ UNIBANCO HOLDING (chattel mortgage, surety/joint debtor, mortgage and others). Of total credit and finance lease operations, R$ 228,374 (R$ 222,481 at 12/31/2018) represented unsecured loans. F-116
Itaú Unibanco Holding S.A. 1.4.4 Repossessed assets Assets received
from the foreclosure of loans, including real estate, are initially recorded at the lower of: (i) the fair value of the asset less the estimated selling expenses, or (ii) the carrying amount of the loan. Further impairment of assets is recorded as a
provision, with a corresponding charge to income. The maintenance costs of these assets are expensed as incurred. The policy for sales of these assets (assets not for use) includes periodic auctions that are announced in advance and considers that
the assets cannot be held for more than one year as stipulated by the BACEN. Total assets repossessed in the period was R$ 82 (R$ 106 from 01/01 to 03/31/2018), mainly composed of real estate. 2. Market risk Possibility of incurring financial losses
arising from the changes in the market value of positions held by a financial institution, including the risks of transactions subject to foreign exchange variation, interest rates, share prices, price indexes and commodity prices. ITAÚ
UNIBANCO HOLDING’s market risk management strategy is aimed at balancing corporate business goals, taking into account, among other things: political, economic and market conditions; portfolio profile of ITAÚ UNIBANCO HOLDING and
expertise within the group to support operations in specific markets. The market risk is controlled by an area independent from the business areas, which is responsible for the daily activities of: (i) risk measurement and assessment, (ii)
monitoring of stress scenarios, limits and warnings, (iii) application, analysis and tests of stress scenarios, (iv) risk reporting for individuals responsible within the business areas, in compliance with governance of ITAÚ UNIBANCO HOLDING,
(v) monitoring of actions required for adjustment of positions and/or risk levels to make them feasible, and (vi) support to the launch of new financial products with security. The National Monetary Council (CMN) has regulations that establish the
segregation of exposure to market risk at least in the following categories: interest rate, exchange rate, shares and commodities. Brazilian inflation indexes are treated as a group of risk indicators and receive the same treatment given to other
risk indicators. The structure of limits and warnings is in line with the Board of Directors’ guidelines, and it is reviewed and approved on an annual basis. This structure has specific limits aiming at improving the risk monitoring and
understanding process, and at avoiding concentration. These limits are quantified by assessing the forecasted results of the balance sheet, size of stockholders’ equity, liquidity, market complexity and volatility, as well as the
institution’s appetite for risk of ITAÚ UNIBANCO HOLDING. In order to set up operations within the defined limits, ITAÚ UNIBANCO HOLDING hedges transactions with clients and proprietary positions, including its foreign investments.
Derivatives are commonly used for these hedging activities, and can be characterized as accounting or economic hedge, both governed by the institutional polices of ITAÚ UNIBANCO HOLDING. The market risk structure categorizes transactions as
part of either the banking portfolio or the trading portfolio, in accordance with general criteria established by CMN Resolution nº. 4,557, of February 2017, 23, and BACEN Circular nº. 3,354, of June 2007, 27. The trading portfolio
consists of all transactions involving financial instruments and goods, including derivatives, which are carried out with the intention of trading. The banking portfolio is basically characterized by transactions from the banking business, and
transactions related to the management of the balance sheet of the institution. It has the no-intention of resale and medium and long term time horizons as general guidelines. Market risk management is conducted based on the following metrics:
· Value at risk (VaR): statistical measure that estimates the expected maximum potential economic loss under normal market conditions, considering a certain time horizon and confidence level; F-117 Itaú Unibanco Holding S.A. 1.4.4
Repossessed assets Assets received from the foreclosure of loans, including real estate, are initially recorded at the lower of: (i) the fair value of the asset less the estimated selling expenses, or (ii) the carrying amount of the loan. Further
impairment of assets is recorded as a provision, with a corresponding charge to income. The maintenance costs of these assets are expensed as incurred. The policy for sales of these assets (assets not for use) includes periodic auctions that are
announced in advance and considers that the assets cannot be held for more than one year as stipulated by the BACEN. Total assets repossessed in the period was R$ 82 (R$ 106 from 01/01 to 03/31/2018), mainly composed of real estate. 2. Market risk
Possibility of incurring financial losses arising from the changes in the market value of positions held by a financial institution, including the risks of transactions subject to foreign exchange variation, interest rates, share prices, price
indexes and commodity prices. ITAÚ UNIBANCO HOLDING’s market risk management strategy is aimed at balancing corporate business goals, taking into account, among other things: political, economic and market conditions; portfolio profile of
ITAÚ UNIBANCO HOLDING and expertise within the group to support operations in specific markets. The market risk is controlled by an area independent from the business areas, which is responsible for the daily activities of: (i) risk measurement
and assessment, (ii) monitoring of stress scenarios, limits and warnings, (iii) application, analysis and tests of stress scenarios, (iv) risk reporting for individuals responsible within the business areas, in compliance with governance of
ITAÚ UNIBANCO HOLDING, (v) monitoring of actions required for adjustment of positions and/or risk levels to make them feasible, and (vi) support to the launch of new financial products with security. The National Monetary Council (CMN) has
regulations that establish the segregation of exposure to market risk at least in the following categories: interest rate, exchange rate, shares and commodities. Brazilian inflation indexes are treated as a group of risk indicators and receive the
same treatment given to other risk indicators. The structure of limits and warnings is in line with the Board of Directors’ guidelines, and it is reviewed and approved on an annual basis. This structure has specific limits aiming at improving
the risk monitoring and understanding process, and at avoiding concentration. These limits are quantified by assessing the forecasted results of the balance sheet, size of stockholders’ equity, liquidity, market complexity and volatility, as
well as the institution’s appetite for risk of ITAÚ UNIBANCO HOLDING. In order to set up operations within the defined limits, ITAÚ UNIBANCO HOLDING hedges transactions with clients and proprietary positions, including its foreign
investments. Derivatives are commonly used for these hedging activities, and can be characterized as accounting or economic hedge, both governed by the institutional polices of ITAÚ UNIBANCO HOLDING. The market risk structure categorizes
transactions as part of either the banking portfolio or the trading portfolio, in accordance with general criteria established by CMN Resolution nº. 4,557, of February 2017, 23, and BACEN Circular nº. 3,354, of June 2007, 27. The trading
portfolio consists of all transactions involving financial instruments and goods, including derivatives, which are carried out with the intention of trading. The banking portfolio is basically characterized by transactions from the banking business,
and transactions related to the management of the balance sheet of the institution. It has the no-intention of resale and medium and long term time horizons as general guidelines. Market risk management is conducted based on the following metrics:
· Value at risk (VaR): statistical measure that estimates the expected maximum potential economic loss under normal market conditions, considering a certain time horizon and confidence level; F-117
Itaú Unibanco Holding S.A. · Losses in stress scenarios:
simulation technique to assess the behavior of assets, liabilities and derivatives of a portfolio when several risk factors are taken to extreme market situations (based on prospective and historical scenarios); · Stop loss: metrics which
purpose is to review positions, should losses accumulated in a certain period reach a certain amount; · Concentration: cumulative exposure of a certain financial instrument or risk factor, calculated at market value (“MtM – Mark to
Market”); and · Stressed VaR: statistical metric arising from VaR calculation, which purpose is to capture higher risk in simulations for the trading portfolio, considering returns that can be seen in historical scenarios of extreme
volatility. Management of interest rate risk in the Banking Book (IRRBB) is performed based on the following metrics: · ΔEVE: difference between the present value of sum of repricing flows instruments subject to IRRBB in a base scenario
and present value of sum of repricing flows of these instruments in a scenario of shock in interest rates; · ΔNII: difference between the result of financial intermediation of instruments subject to IRRBB in a base scenario and the result
of financial intermediation of these instruments in a scenario of shock in interest rates. In addition to the aforementioned risk measures, sensitivity and loss control measures are also analyzed. They comprise: · Mismatching analysis (GAPS):
accumulated exposure by risk factor of cash flows expressed at market value, allocated at the maturity dates; · Sensitivity (DV01- Delta Variation): impact on the market value of cash flows, when submitted to an one annual basis point increase
in the current interest rates or index rate; · Sensitivity to several risk factors (Greeks): partial derivatives of an option portfolio in relation to the prices of underlying assets, implied volatilities, interest rates and time. ITAÚ
UNIBANCO HOLDING uses proprietary systems to measure the consolidated market risk. The processing of these systems occur, in an access-controlled environment, being highly available, which has data safekeeping and recovery processes, and counts on
such an infrastructure to ensure the continuity of business in contingency (disaster recovery) situations. The document that details the guidelines established by the internal policy on market risk management, that is not part of the financial
statements, may be viewed on the website www.itau.com.br/investor-relations, in the section Corporate Governance/Rules and Policies / Public Access Report – Market Risk. For a detailed view of Market Risk and Interest Rate Risk in the Banking
Portfolio, see chapter Market Risk of the Publication on Risk and Capital Management - Pillar 3. 2.1 VaR - Consolidated ITAÚ UNIBANCO HOLDING Is calculated by Historical Simulation, i.e., the expected distribution for profit and loss
(P&L’s - Profit and loss statement) of a portfolio over a time horizon that can be estimated based on the historical behavior of returns of market risk factors of this portfolio. VaR is calculated at a confidence level of 99%, historical
period of 4 years (1000 business days) and a holding period of one day. In addition, in a conservative approach, VaR is calculated daily, being or not volatility-weighted, and the final VaR is the most restrictive value between both methodologies.
From January 1 to March 31, 2019, the average total VaR in Historical Simulation was R$ 397.1 ou 0.29% of total stockholders’ equity (R$ 399.3 or 0.26% of total stockholders’ equity 01/01 to 12/31/2018). F-118 Itaú Unibanco Holding
S.A. · Losses in stress scenarios: simulation technique to assess the behavior of assets, liabilities and derivatives of a portfolio when several risk factors are taken to extreme market situations (based on prospective and historical
scenarios); · Stop loss: metrics which purpose is to review positions, should losses accumulated in a certain period reach a certain amount; · Concentration: cumulative exposure of a certain financial instrument or risk factor, calculated
at market value (“MtM – Mark to Market”); and · Stressed VaR: statistical metric arising from VaR calculation, which purpose is to capture higher risk in simulations for the trading portfolio, considering returns that can be
seen in historical scenarios of extreme volatility. Management of interest rate risk in the Banking Book (IRRBB) is performed based on the following metrics: · ΔEVE: difference between the present value of sum of repricing flows
instruments subject to IRRBB in a base scenario and present value of sum of repricing flows of these instruments in a scenario of shock in interest rates; · ΔNII: difference between the result of financial intermediation of instruments
subject to IRRBB in a base scenario and the result of financial intermediation of these instruments in a scenario of shock in interest rates. In addition to the aforementioned risk measures, sensitivity and loss control measures are also analyzed.
They comprise: · Mismatching analysis (GAPS): accumulated exposure by risk factor of cash flows expressed at market value, allocated at the maturity dates; · Sensitivity (DV01- Delta Variation): impact on the market value of cash flows,
when submitted to an one annual basis point increase in the current interest rates or index rate; · Sensitivity to several risk factors (Greeks): partial derivatives of an option portfolio in relation to the prices of underlying assets, implied
volatilities, interest rates and time. ITAÚ UNIBANCO HOLDING uses proprietary systems to measure the consolidated market risk. The processing of these systems occur, in an access-controlled environment, being highly available, which has data
safekeeping and recovery processes, and counts on such an infrastructure to ensure the continuity of business in contingency (disaster recovery) situations. The document that details the guidelines established by the internal policy on market risk
management, that is not part of the financial statements, may be viewed on the website www.itau.com.br/investor-relations, in the section Corporate Governance/Rules and Policies / Public Access Report – Market Risk. For a detailed view of
Market Risk and Interest Rate Risk in the Banking Portfolio, see chapter Market Risk of the Publication on Risk and Capital Management - Pillar 3. 2.1 VaR - Consolidated ITAÚ UNIBANCO HOLDING Is calculated by Historical Simulation, i.e., the
expected distribution for profit and loss (P&L’s - Profit and loss statement) of a portfolio over a time horizon that can be estimated based on the historical behavior of returns of market risk factors of this portfolio. VaR is calculated
at a confidence level of 99%, historical period of 4 years (1000 business days) and a holding period of one day. In addition, in a conservative approach, VaR is calculated daily, being or not volatility-weighted, and the final VaR is the most
restrictive value between both methodologies. From January 1 to March 31, 2019, the average total VaR in Historical Simulation was R$ 397.1 ou 0.29% of total stockholders’ equity (R$ 399.3 or 0.26% of total stockholders’ equity 01/01 to
12/31/2018). F-118
Itaú Unibanco Holding S.A. VaR Total (Historical Simulation) (Reais
million) (1) (1) 03/31/2019 12/31/2018 Average Minimum Maximum Var Total Average Minimum Maximum Var Total Risk factor group Interest rates 887.5 840.2 959.7 856.8 851.4 720.0 1,042.9 898.4 36.3 24.7 53.7 30.4 24.7 12.7 45.2 37.3 Currencies Shares
46.8 36.4 57.4 38.3 39.2 23.6 58.5 50.1 Commodities 1.5 0.9 2.2 1.3 1.6 0.6 3.1 1.0 (553.2) (605.3) Effect of diversification Total risk 397.1 360.7 471.9 373.6 399.3 294.7 603.6 381.5 (1) VaR by Group of Risk Factors considers information from
foreign units. F-119 Itaú Unibanco Holding S.A. VaR Total (Historical Simulation) (Reais million) (1) (1) 03/31/2019 12/31/2018 Average Minimum Maximum Var Total Average Minimum Maximum Var Total Risk factor group Interest rates 887.5 840.2
959.7 856.8 851.4 720.0 1,042.9 898.4 36.3 24.7 53.7 30.4 24.7 12.7 45.2 37.3 Currencies Shares 46.8 36.4 57.4 38.3 39.2 23.6 58.5 50.1 Commodities 1.5 0.9 2.2 1.3 1.6 0.6 3.1 1.0 (553.2) (605.3) Effect of diversification Total risk 397.1 360.7
471.9 373.6 399.3 294.7 603.6 381.5 (1) VaR by Group of Risk Factors considers information from foreign units. F-119
Itaú Unibanco Holding S.A. 2.1.1 Interest rate risk The table below
shows the accounting position of financial assets and liabilities exposed to interest rate risk, distributed by maturity (remaining contractual terms). This table is not used directly to manage interest rate risks; it is mostly used to permit the
assessment of mismatching between accounts and products associated thereto and to identify possible risk concentration. 03/31/2019 12/31/2018 0-30 31-180 181-365 1-5 Over 5 0-30 31-180 181-365 1-5 Over 5 Total Total days days days years years days
days days years years 292,149 366,735 111,712 404,326 191,823 1,366,745 277,164 394,168 100,598 404,069 197,904 1,373,903 Financial assets Central Bank compulsory deposits 85,607 - - - - 85,607 88,548 - - - - 88,548 At amortized cost Interbank
deposits 17,791 5,694 1,559 1,277 - 26,321 19,181 4,815 1,730 688 - 26,414 Securities purchased under agreements to resell 65,750 193,785 - 9 45 259,589 64,677 215,352 - 12 91 280,132 Securities 1,315 7,516 5,649 53,597 42,187 110,264 1,007 7,320
5,792 50,969 41,661 106,749 Loan and lease operations 92,167 134,495 75,648 169,302 75,560 547,172 78,709 140,057 70,792 167,517 79,016 536,091 At fair value through other comprehensive income 3,073 5,186 4,711 24,031 14,610 51,611 1,915 4,743 4,026
21,649 16,990 49,323 At fair value through profit and loss Securities 22,051 16,378 20,792 147,714 55,162 262,097 19,140 17,810 15,945 154,171 56,114 263,180 Derivatives 4,395 3,681 3,353 8,396 4,259 24,084 3,987 4,071 2,313 9,063 4,032
23,466 Financial liabilities 501,188 94,347 72,221 289,042 89,170 1,045,968 513,889 88,152 69,102 321,928 60,367 1,053,438 At amortized cost Deposits 250,908 34,889 23,385 140,770 11,535 461,487 248,913 36,856 22,063 146,288 9,304 463,424 Securities
sold under repurchase agreements 238,778 9,073 5,616 29,658 30,683 313,808 254,052 9,713 7,756 40,877 17,839 330,237 Interbank market debts 8,009 41,514 36,107 50,819 3,112 139,561 7,438 33,869 31,869 58,375 3,119 134,670 Institutional market debts
117 5,640 2,156 51,505 40,245 99,663 314 3,631 4,579 58,513 26,937 93,974 Capitalization plans - - - 3,469 - 3,469 - - - 3,422 - 3,422 At fair value through profit and loss Derivatives 3,376 3,216 4,931 12,749 3,524 27,796 3,168 4,070 2,815 14,360
3,106 27,519 Structured notes - 15 26 72 71 184 4 13 20 93 62 192 (1) Difference asset/ liability ( 209,039) 272,388 39,491 115,284 102,653 320,777 (236,725) 306,016 31,496 82,141 137,537 320,465 Cumulative difference ( 209,039) 63,349 102,840
218,124 320,777 (236,725) 69,291 100,787 182,928 320,465 Ratio of cumulative difference to total interest-bearing assets (15.3%) 4.6% 7.5% 16.0% 23.5% (17.2%) 5.0% 7.3% 13.3% 23.3% (1) The difference arises from the mismatch between the maturities
of all remunerated assets and liabilities, at the respective period-end date, considering the contractually agreed terms. F-120 Itaú Unibanco Holding S.A. 2.1.1 Interest rate risk The table below shows the accounting position of financial
assets and liabilities exposed to interest rate risk, distributed by maturity (remaining contractual terms). This table is not used directly to manage interest rate risks; it is mostly used to permit the assessment of mismatching between accounts
and products associated thereto and to identify possible risk concentration. 03/31/2019 12/31/2018 0-30 31-180 181-365 1-5 Over 5 0-30 31-180 181-365 1-5 Over 5 Total Total days days days years years days days days years years 292,149 366,735
111,712 404,326 191,823 1,366,745 277,164 394,168 100,598 404,069 197,904 1,373,903 Financial assets Central Bank compulsory deposits 85,607 - - - - 85,607 88,548 - - - - 88,548 At amortized cost Interbank deposits 17,791 5,694 1,559 1,277 - 26,321
19,181 4,815 1,730 688 - 26,414 Securities purchased under agreements to resell 65,750 193,785 - 9 45 259,589 64,677 215,352 - 12 91 280,132 Securities 1,315 7,516 5,649 53,597 42,187 110,264 1,007 7,320 5,792 50,969 41,661 106,749 Loan and lease
operations 92,167 134,495 75,648 169,302 75,560 547,172 78,709 140,057 70,792 167,517 79,016 536,091 At fair value through other comprehensive income 3,073 5,186 4,711 24,031 14,610 51,611 1,915 4,743 4,026 21,649 16,990 49,323 At fair value through
profit and loss Securities 22,051 16,378 20,792 147,714 55,162 262,097 19,140 17,810 15,945 154,171 56,114 263,180 Derivatives 4,395 3,681 3,353 8,396 4,259 24,084 3,987 4,071 2,313 9,063 4,032 23,466 Financial liabilities 501,188 94,347 72,221
289,042 89,170 1,045,968 513,889 88,152 69,102 321,928 60,367 1,053,438 At amortized cost Deposits 250,908 34,889 23,385 140,770 11,535 461,487 248,913 36,856 22,063 146,288 9,304 463,424 Securities sold under repurchase agreements 238,778 9,073
5,616 29,658 30,683 313,808 254,052 9,713 7,756 40,877 17,839 330,237 Interbank market debts 8,009 41,514 36,107 50,819 3,112 139,561 7,438 33,869 31,869 58,375 3,119 134,670 Institutional market debts 117 5,640 2,156 51,505 40,245 99,663 314 3,631
4,579 58,513 26,937 93,974 Capitalization plans - - - 3,469 - 3,469 - - - 3,422 - 3,422 At fair value through profit and loss Derivatives 3,376 3,216 4,931 12,749 3,524 27,796 3,168 4,070 2,815 14,360 3,106 27,519 Structured notes - 15 26 72 71 184
4 13 20 93 62 192 (1) Difference asset/ liability ( 209,039) 272,388 39,491 115,284 102,653 320,777 (236,725) 306,016 31,496 82,141 137,537 320,465 Cumulative difference ( 209,039) 63,349 102,840 218,124 320,777 (236,725) 69,291 100,787 182,928
320,465 Ratio of cumulative difference to total interest-bearing assets (15.3%) 4.6% 7.5% 16.0% 23.5% (17.2%) 5.0% 7.3% 13.3% 23.3% (1) The difference arises from the mismatch between the maturities of all remunerated assets and liabilities, at the
respective period-end date, considering the contractually agreed terms. F-120
Itaú Unibanco Holding S.A. 2.1.2 Currency risk The table below shows
the accounting exposure to currency risk of financial assets and liabilities and reflects ITAÚ UNIBANCO HOLDING’s currency risk management. 03/31/2019 Chilean Dollar Other Total Peso Net exposure of financial instruments (53,526) 7,505
14,847 (31,174) 12/31/2018 Chilean Dollar Other Total Peso Net exposure of financial instruments (38,190) 7,647 15,418 (15,125) 2.1.3 Share Price Risk The exposure to share price risk is disclosed in Note 5, related to Financial Assets Through
Profit or Loss - Securities, and Note 8, related to Financial Assets at Fair Value Through Other Comprehensive Income - Securities. 3. Liquidity risk The institution’s possibility of not being able to efficiently meet its expected and
unexpected obligations, both current and future, including those arising from the pledged guarantees, without affecting its daily operations and without incurring significant losses. The control over liquidity risk is carried out by an area
independent from the business area and that is responsible for establishing the reserve composition, estimating the cash flow and exposure to liquidity risk in different horizons of time, and for monitoring the minimum limits to absorb losses in
stress scenarios for each country where ITAÚ UNIBANCO HOLDING operates. All activities are subject to verification by the independent validation, internal control and audit areas. The liquidity management policies and respective limits are
established based on prospective scenarios and top management’s guidelines. These scenarios are reviewed on a periodic basis, by analyzing the need for cash due to atypical market conditions or resulting from strategic decisions of ITAÚ
UNIBANCO HOLDING. The document Public Access Report - Liquidity Risk, that expresses the guidelines set forth by the internal policy on liquidity risk, that is not part of the financial statements, may be viewed on the website
www.itau.com.br/investor-relations, in the section Itaú Unibanco, Corporate Governance, Rules and Policies. ITAÚ UNIBANCO HOLDING conducts the control over and management of liquidity risk on a daily basis, through a governance approved in
superior committees, which sets forth, among other activities, the adoption of liquidity minimum limits, sufficient to absorb possible cash losses in stress scenarios, measured through internal and regulatory methodologies. Additionally the
following items for monitoring and supporting decisions are periodically prepared and submitted to top management: · Different scenarios projected for changes in liquidity; · Contingency plans for crisis situations; · Reports and
charts that describe the risk positions; · Assessment of funding costs and alternative sources of funding; · Monitoring of changes in funding through a constant control over sources of funding, considering the type of investor and
maturities, among other factors. 3.1 Primary sources of funding ITAÚ UNIBANCO HOLDING has different sources of funding, of which a significant portion is from the retail segment. Of total clients’ funds, 39.3% or R$ 253.8 billion, are
immediately available to the client. However, the historical behavior of the accumulated balance of the two largest items in this group – demand and savings deposits - is relatively consistent with the balances increasing over time and inflows
exceeding outflows for monthly average amounts. F-121 Itaú Unibanco Holding S.A. 2.1.2 Currency risk The table below shows the accounting exposure to currency risk of financial assets and liabilities and reflects ITAÚ UNIBANCO
HOLDING’s currency risk management. 03/31/2019 Chilean Dollar Other Total Peso Net exposure of financial instruments (53,526) 7,505 14,847 (31,174) 12/31/2018 Chilean Dollar Other Total Peso Net exposure of financial instruments (38,190) 7,647
15,418 (15,125) 2.1.3 Share Price Risk The exposure to share price risk is disclosed in Note 5, related to Financial Assets Through Profit or Loss - Securities, and Note 8, related to Financial Assets at Fair Value Through Other Comprehensive Income
- Securities. 3. Liquidity risk The institution’s possibility of not being able to efficiently meet its expected and unexpected obligations, both current and future, including those arising from the pledged guarantees, without affecting its
daily operations and without incurring significant losses. The control over liquidity risk is carried out by an area independent from the business area and that is responsible for establishing the reserve composition, estimating the cash flow and
exposure to liquidity risk in different horizons of time, and for monitoring the minimum limits to absorb losses in stress scenarios for each country where ITAÚ UNIBANCO HOLDING operates. All activities are subject to verification by the
independent validation, internal control and audit areas. The liquidity management policies and respective limits are established based on prospective scenarios and top management’s guidelines. These scenarios are reviewed on a periodic basis,
by analyzing the need for cash due to atypical market conditions or resulting from strategic decisions of ITAÚ UNIBANCO HOLDING. The document Public Access Report - Liquidity Risk, that expresses the guidelines set forth by the internal policy
on liquidity risk, that is not part of the financial statements, may be viewed on the website www.itau.com.br/investor-relations, in the section Itaú Unibanco, Corporate Governance, Rules and Policies. ITAÚ UNIBANCO HOLDING conducts the
control over and management of liquidity risk on a daily basis, through a governance approved in superior committees, which sets forth, among other activities, the adoption of liquidity minimum limits, sufficient to absorb possible cash losses in
stress scenarios, measured through internal and regulatory methodologies. Additionally the following items for monitoring and supporting decisions are periodically prepared and submitted to top management: · Different scenarios projected for
changes in liquidity; · Contingency plans for crisis situations; · Reports and charts that describe the risk positions; · Assessment of funding costs and alternative sources of funding; · Monitoring of changes in funding through
a constant control over sources of funding, considering the type of investor and maturities, among other factors. 3.1 Primary sources of funding ITAÚ UNIBANCO HOLDING has different sources of funding, of which a significant portion is from the
retail segment. Of total clients’ funds, 39.3% or R$ 253.8 billion, are immediately available to the client. However, the historical behavior of the accumulated balance of the two largest items in this group – demand and savings deposits
- is relatively consistent with the balances increasing over time and inflows exceeding outflows for monthly average amounts. F-121
Itaú Unibanco Holding S.A. 03/31/2019 12/31/2018 Funding from
clients 0-30 days Total % 0-30 days Total % Deposits 250,908 461,487 - 248,913 463,424 - Demand deposits 74,757 74,757 11.6 72,581 72,581 11.2 Savings deposits 136,613 136,613 21.1 136,865 136,865 21.2 Time deposits 38,793 248,049 38.4 37,784
251,300 38.9 Other 745 2,068 0.3 1,683 2,678 0.4 Funds from acceptances and issuance of (1) securities 1,365 117,040 18.1 2,285 111,566 17.3 (2) Funds from own issue 1,498 15,336 2.4 1,831 21,417 3.3 Subordinated debt - 52,581 8.1 2 49,313 7.6 Total
253,771 646,444 100.0 253,031 645,720 100.0 (1) Includes mortgage notes, real estate credit bills, agribusiness, financial and structured operations certificates recorded in interbank market and debts and liabilities for issuance of debentures and
foreign borrowing and securities recorded in funds from institutional markets. (2) Refer to deposits received under securities repurchase agreements with securities from own issue. 3.2 Control over liquidity ITAÚ UNIBANCO HOLDING manages its
liquidity reserves based on estimates of funds that will be available for investment, considering the continuity of business in normal conditions. During the period of 2019, ITAÚ UNIBANCO HOLDING maintained appropriate levels of liquidity in
Brazil and abroad. Liquid assets (cash and deposits on demand, securities purchased under agreements to resell - funded position and government securities – available, detailed in the table Undiscounted future flows – Financial assets)
totaled R$ 133.9 billion and accounted for 52.8% of the short term redeemable obligations, 20.7% of total funding, and 13.7% of total assets. The table below shows the indicators used by ITAÚ UNIBANCO HOLDING in the management of liquidity
risk: 03/31/2019 12/31/2018 Liquidity indicators % % (1) (2) 52.8 62.7 Net assets / funds within 30 days (1) (3) Net assets / total funds 20.7 24.6 (1) (4) Net assets / total financial assets 13.7 15.8 (1) Net assets: Cash and deposits on demand,
Securities purchased under agreements to resell – Funded position and Government securities - available. Detailed in the table Undiscounted future flows – Financial assets; (2) Table Funding from clients (Total Funding from clients 0-30
days); (3) Table funding from clients (Total funding from clients); (4) Detailed in the table Undiscounted future flows – Financial assets, total present value regards R$ 976,538 (R$ 1,101,240 at 12/31/2018). F-122 Itaú Unibanco Holding
S.A. 03/31/2019 12/31/2018 Funding from clients 0-30 days Total % 0-30 days Total % Deposits 250,908 461,487 - 248,913 463,424 - Demand deposits 74,757 74,757 11.6 72,581 72,581 11.2 Savings deposits 136,613 136,613 21.1 136,865 136,865 21.2 Time
deposits 38,793 248,049 38.4 37,784 251,300 38.9 Other 745 2,068 0.3 1,683 2,678 0.4 Funds from acceptances and issuance of (1) securities 1,365 117,040 18.1 2,285 111,566 17.3 (2) Funds from own issue 1,498 15,336 2.4 1,831 21,417 3.3 Subordinated
debt - 52,581 8.1 2 49,313 7.6 Total 253,771 646,444 100.0 253,031 645,720 100.0 (1) Includes mortgage notes, real estate credit bills, agribusiness, financial and structured operations certificates recorded in interbank market and debts and
liabilities for issuance of debentures and foreign borrowing and securities recorded in funds from institutional markets. (2) Refer to deposits received under securities repurchase agreements with securities from own issue. 3.2 Control over
liquidity ITAÚ UNIBANCO HOLDING manages its liquidity reserves based on estimates of funds that will be available for investment, considering the continuity of business in normal conditions. During the period of 2019, ITAÚ UNIBANCO HOLDING
maintained appropriate levels of liquidity in Brazil and abroad. Liquid assets (cash and deposits on demand, securities purchased under agreements to resell - funded position and government securities – available, detailed in the table
Undiscounted future flows – Financial assets) totaled R$ 133.9 billion and accounted for 52.8% of the short term redeemable obligations, 20.7% of total funding, and 13.7% of total assets. The table below shows the indicators used by ITAÚ
UNIBANCO HOLDING in the management of liquidity risk: 03/31/2019 12/31/2018 Liquidity indicators % % (1) (2) 52.8 62.7 Net assets / funds within 30 days (1) (3) Net assets / total funds 20.7 24.6 (1) (4) Net assets / total financial assets 13.7 15.8
(1) Net assets: Cash and deposits on demand, Securities purchased under agreements to resell – Funded position and Government securities - available. Detailed in the table Undiscounted future flows – Financial assets; (2) Table Funding
from clients (Total Funding from clients 0-30 days); (3) Table funding from clients (Total funding from clients); (4) Detailed in the table Undiscounted future flows – Financial assets, total present value regards R$ 976,538 (R$ 1,101,240 at
12/31/2018). F-122
Itaú Unibanco Holding S.A. Assets and liabilities according to their
remaining contractual maturities, considering their undiscounted flows, are presented below: 03/31/2019 12/31/2018 Undiscounted future flows, except for derivatives which are fair value 0 - 30 31 - 365 366 - 720 Over 720 0 - 30 31 - 365 366 - 720
Over 720 (1) Total Total Financial assets days days days days days days days days Cash and deposits on demand 30,376 - - - 30,376 37,159 - - - 37,159 Interbank investments 110,728 168,300 1,203 189 280,420 115,278 182,606 468 322 298,674 (2) 37,720
- - - 37,720 45,335 - - - 45,335 Securities purchased under agreements to resell – Funded position Securities purchased under agreements to resell – Financed position 54,949 161,160 - - 216,109 50,741 175,857 - 10 226,608 (4) 18,059
7,140 1,203 189 26,591 19,202 6,749 468 312 26,731 Interbank deposits Securities 73,514 21,513 11,413 91,988 198,428 82,144 17,255 17,853 98,531 215,783 Government securities - available 61,781 191 290 5,308 67,570 72,026 292 292 5,315 77,925
Government securities – subject to repurchase commitments 3,081 13,271 6,870 31,535 54,757 52 6,321 12,671 32,811 51,855 Private securities - available 8,652 7,675 3,874 43,064 63,265 10,066 9,406 4,185 49,003 72,660 Private securities –
subject to repurchase commitments - 376 379 12,081 12,836 - 1,236 705 11,402 13,343 Derivative financial instruments 4,395 7,034 3,626 9,029 24,084 3,987 6,384 4,069 9,026 23,466 Net position 4,395 7,034 3,626 9,029 24,084 3,987 6,384 4,069 9,026
23,466 Swaps 176 2,234 2,920 8,394 13,724 705 1,132 2,881 8,331 13,049 Option 457 2,216 521 176 3,370 1,167 1,890 975 183 4,215 Forward (onshore) 2,337 925 - - 3,262 893 942 - - 1,835 Other derivative financial instruments 1,425 1,659 185 459 3,728
1,222 2,420 213 512 4,367 (3) 74,689 172,598 88,398 229,696 565,381 68,829 166,503 88,138 241,919 565,389 Loan and lease operations portfolio Total financial assets 293,702 369,445 104,640 330,902 1,098,689 307,397 372,748 110,528 349,798 1,140,471
(1) The assets portfolio does not take into consideration the balance of compulsory deposits in Central Bank, amounting to R$ 91,278 (R$ 94,148 at 12/31/2018), which release of funds is linked to the maturity of the liability portfolios. The amounts
of PGBL and VGBL are not considered in the assets portfolio because they are covered in Note 26. (2) Net of R$ 3,806 (R$ 5,120 at 12/31/2018) which securities are restricted to guarantee transactions at B3 S.A. - Brasil, Bolsa, Balcão and the
BACEN. (3) Net of payment to merchants of R$ 59,548 (R$ 60,504 at 12/31/2018) and the amount of liabilities from transactions related to credit assignments R$ 3,663 (R$ 3,993 at 12/31/2018). (4) Includes R$ 13,523 (R$ 15,886 at 12/31/2018) related
to Compulsory Deposits with Central Banks of other countries. F-123 Itaú Unibanco Holding S.A. Assets and liabilities according to their remaining contractual maturities, considering their undiscounted flows, are presented below: 03/31/2019
12/31/2018 Undiscounted future flows, except for derivatives which are fair value 0 - 30 31 - 365 366 - 720 Over 720 0 - 30 31 - 365 366 - 720 Over 720 (1) Total Total Financial assets days days days days days days days days Cash and deposits on
demand 30,376 - - - 30,376 37,159 - - - 37,159 Interbank investments 110,728 168,300 1,203 189 280,420 115,278 182,606 468 322 298,674 (2) 37,720 - - - 37,720 45,335 - - - 45,335 Securities purchased under agreements to resell – Funded
position Securities purchased under agreements to resell – Financed position 54,949 161,160 - - 216,109 50,741 175,857 - 10 226,608 (4) 18,059 7,140 1,203 189 26,591 19,202 6,749 468 312 26,731 Interbank deposits Securities 73,514 21,513
11,413 91,988 198,428 82,144 17,255 17,853 98,531 215,783 Government securities - available 61,781 191 290 5,308 67,570 72,026 292 292 5,315 77,925 Government securities – subject to repurchase commitments 3,081 13,271 6,870 31,535 54,757 52
6,321 12,671 32,811 51,855 Private securities - available 8,652 7,675 3,874 43,064 63,265 10,066 9,406 4,185 49,003 72,660 Private securities – subject to repurchase commitments - 376 379 12,081 12,836 - 1,236 705 11,402 13,343 Derivative
financial instruments 4,395 7,034 3,626 9,029 24,084 3,987 6,384 4,069 9,026 23,466 Net position 4,395 7,034 3,626 9,029 24,084 3,987 6,384 4,069 9,026 23,466 Swaps 176 2,234 2,920 8,394 13,724 705 1,132 2,881 8,331 13,049 Option 457 2,216 521 176
3,370 1,167 1,890 975 183 4,215 Forward (onshore) 2,337 925 - - 3,262 893 942 - - 1,835 Other derivative financial instruments 1,425 1,659 185 459 3,728 1,222 2,420 213 512 4,367 (3) 74,689 172,598 88,398 229,696 565,381 68,829 166,503 88,138
241,919 565,389 Loan and lease operations portfolio Total financial assets 293,702 369,445 104,640 330,902 1,098,689 307,397 372,748 110,528 349,798 1,140,471 (1) The assets portfolio does not take into consideration the balance of compulsory
deposits in Central Bank, amounting to R$ 91,278 (R$ 94,148 at 12/31/2018), which release of funds is linked to the maturity of the liability portfolios. The amounts of PGBL and VGBL are not considered in the assets portfolio because they are
covered in Note 26. (2) Net of R$ 3,806 (R$ 5,120 at 12/31/2018) which securities are restricted to guarantee transactions at B3 S.A. - Brasil, Bolsa, Balcão and the BACEN. (3) Net of payment to merchants of R$ 59,548 (R$ 60,504 at 12/31/2018)
and the amount of liabilities from transactions related to credit assignments R$ 3,663 (R$ 3,993 at 12/31/2018). (4) Includes R$ 13,523 (R$ 15,886 at 12/31/2018) related to Compulsory Deposits with Central Banks of other countries. F-123
Itaú Unibanco Holding S.A. Undiscounted future flows, except for
derivatives which are fair value 03/31/2019 12/31/2018 0 – 30 31 – 365 366 – 720 Over 720 0 – 30 31 – 365 366 – 720 Over 720 Financial liabilities Total Total days days days days days days days days Deposits
246,819 65,442 16,973 186,091 515,325 246,729 62,909 16,674 191,131 517,443 Demand deposits 74,757 - - - 74,757 72,581 - - - 72,581 Savings deposits 136,613 - - - 136,613 136,865 - - - 136,865 Time deposit 34,927 64,018 16,856 185,946 301,747 35,450
62,185 16,647 190,984 305,266 Interbank deposits 519 1,424 117 145 2,205 1,830 724 27 147 2,728 Other deposits 3 - - - 3 3 - - - 3 Compulsory deposits (38,789) (14,829) (3,738) (33,922) ( 91,278) (39,116) (15,228) (3,831) (35,973) (94,148) Demand
deposits (5,671) - - - ( 5,671) (5,600) - - - (5,600) Savings deposits (24,759) - - - ( 24,759) (24,695) - - - (24,695) Time deposit (8,359) (14,829) (3,738) (33,922) ( 60,848) (8,821) (15,228) (3,831) (35,973) (63,853) (1) 276,677 14,054 5,835
33,787 330,353 275,395 16,557 10,933 42,349 345,234 Securities sold under repurchase agreements Government securities 235,533 3,956 2,297 31,626 273,412 232,776 2,856 7,353 38,752 281,737 Private securities 8,683 10,098 3,538 2,161 24,480 10,910
13,701 3,580 3,597 31,788 Foreign 32,461 - - - 32,461 31,709 - - - 31,709 (2) 1,267 43,313 35,093 51,928 131,601 2,189 32,950 39,077 53,626 127,842 Funds from acceptances and issuance of securities (3) 6,068 50,704 11,871 10,445 79,088 6,304 45,668
11,541 11,840 75,353 Borrowing and onlending (4) 269 2,609 11,400 51,913 66,191 154 2,658 6,264 52,453 61,529 Subordinated debt Derivative financial instruments 3,376 8,147 7,144 9,129 27,796 3,168 6,885 5,672 11,794 27,519 Net position 3,376 8,147
7,144 9,129 27,796 3,168 6,885 5,672 11,794 27,519 Swaps 184 4,470 6,291 8,467 19,412 923 3,002 4,687 10,742 19,354 Option 396 2,043 421 269 3,129 883 1,935 823 288 3,929 Forward (onshore) 1,975 - - - 1,975 470 - - - 470 Other derivative financial
instruments 821 1,634 432 393 3,280 892 1,948 162 764 3,766 Total financial liabilities 495,687 169,440 84,578 309,371 1,059,076 494,823 152,399 86,330 327,220 1,060,772 (1) Includes own and third parties’ portfolios. (2) Includes mortgage
notes, real estate credit bills, agribusiness, financial bills and structured operations certificates recorded in interbank market funds and liabilities for issuance of debentures and foreign securities recorded in funds from institutional markets.
(3) Recorded in funds from interbank markets. (4) Recorded in funds from institutional markets. F-124 Itaú Unibanco Holding S.A. Undiscounted future flows, except for derivatives which are fair value 03/31/2019 12/31/2018 0 – 30 31
– 365 366 – 720 Over 720 0 – 30 31 – 365 366 – 720 Over 720 Financial liabilities Total Total days days days days days days days days Deposits 246,819 65,442 16,973 186,091 515,325 246,729 62,909 16,674 191,131 517,443
Demand deposits 74,757 - - - 74,757 72,581 - - - 72,581 Savings deposits 136,613 - - - 136,613 136,865 - - - 136,865 Time deposit 34,927 64,018 16,856 185,946 301,747 35,450 62,185 16,647 190,984 305,266 Interbank deposits 519 1,424 117 145 2,205
1,830 724 27 147 2,728 Other deposits 3 - - - 3 3 - - - 3 Compulsory deposits (38,789) (14,829) (3,738) (33,922) ( 91,278) (39,116) (15,228) (3,831) (35,973) (94,148) Demand deposits (5,671) - - - ( 5,671) (5,600) - - - (5,600) Savings deposits
(24,759) - - - ( 24,759) (24,695) - - - (24,695) Time deposit (8,359) (14,829) (3,738) (33,922) ( 60,848) (8,821) (15,228) (3,831) (35,973) (63,853) (1) 276,677 14,054 5,835 33,787 330,353 275,395 16,557 10,933 42,349 345,234 Securities sold under
repurchase agreements Government securities 235,533 3,956 2,297 31,626 273,412 232,776 2,856 7,353 38,752 281,737 Private securities 8,683 10,098 3,538 2,161 24,480 10,910 13,701 3,580 3,597 31,788 Foreign 32,461 - - - 32,461 31,709 - - - 31,709 (2)
1,267 43,313 35,093 51,928 131,601 2,189 32,950 39,077 53,626 127,842 Funds from acceptances and issuance of securities (3) 6,068 50,704 11,871 10,445 79,088 6,304 45,668 11,541 11,840 75,353 Borrowing and onlending (4) 269 2,609 11,400 51,913
66,191 154 2,658 6,264 52,453 61,529 Subordinated debt Derivative financial instruments 3,376 8,147 7,144 9,129 27,796 3,168 6,885 5,672 11,794 27,519 Net position 3,376 8,147 7,144 9,129 27,796 3,168 6,885 5,672 11,794 27,519 Swaps 184 4,470 6,291
8,467 19,412 923 3,002 4,687 10,742 19,354 Option 396 2,043 421 269 3,129 883 1,935 823 288 3,929 Forward (onshore) 1,975 - - - 1,975 470 - - - 470 Other derivative financial instruments 821 1,634 432 393 3,280 892 1,948 162 764 3,766 Total
financial liabilities 495,687 169,440 84,578 309,371 1,059,076 494,823 152,399 86,330 327,220 1,060,772 (1) Includes own and third parties’ portfolios. (2) Includes mortgage notes, real estate credit bills, agribusiness, financial bills and
structured operations certificates recorded in interbank market funds and liabilities for issuance of debentures and foreign securities recorded in funds from institutional markets. (3) Recorded in funds from interbank markets. (4) Recorded in funds
from institutional markets. F-124
Itaú Unibanco Holding S.A. 03/31/2019 12/31/2018 Off balance sheet 0
– 30 31 – 365 366 – 720 Over 720 0 – 30 31 – 365 366 – 720 Over 720 Total Total days days days days days days days days 3,390 14,702 5,936 41,353 65,381 1,305 17,314 5,509 41,977 66,105 Financial Guarantees
Commitments to be released 121,469 17,393 4,669 134,819 278,350 110,909 25,977 5,796 130,161 272,843 Letters of credit to be released 12,661 - - - 12,661 10,747 - - - 10,747 Contractual commitments - Fixed assets and Intangible (Notes 13 and 14) -
287 273 - 560 - 405 273 - 678 Total 137,520 32,382 10,878 176,172 356,952 122,961 43,696 11,578 172,138 350,373 F-125 Itaú Unibanco Holding S.A. 03/31/2019 12/31/2018 Off balance sheet 0 – 30 31 – 365 366 – 720 Over 720 0
– 30 31 – 365 366 – 720 Over 720 Total Total days days days days days days days days 3,390 14,702 5,936 41,353 65,381 1,305 17,314 5,509 41,977 66,105 Financial Guarantees Commitments to be released 121,469 17,393 4,669 134,819
278,350 110,909 25,977 5,796 130,161 272,843 Letters of credit to be released 12,661 - - - 12,661 10,747 - - - 10,747 Contractual commitments - Fixed assets and Intangible (Notes 13 and 14) - 287 273 - 560 - 405 273 - 678 Total 137,520 32,382 10,878
176,172 356,952 122,961 43,696 11,578 172,138 350,373 F-125
Itaú Unibanco Holding S.A. c) Capital Management Governance
ITAÚ UNIBANCO HOLDING is subject to the requirements of BACEN, which determines minimum capital requirements, procedures to assess information on globally systemic important banks (G-SIB), fixed asset limits, loan limits, accounting practices
and require banks to conform to the regulation based on the Basel Accord for capital adequacy purposes. Additionally, the CNSP and SUSEP issue regulations on capital requirements that impact our insurance operations, and private pension and
capitalization plans. The capital statements were prepared in accordance with BACEN’s regulatory requirements and with internationally accepted minimum requirements according to the Bank for International Settlements (BIS). I - Composition of
capital The Referential Equity (PR) used to monitor the compliance with the operational limits imposed by BACEN, is the sum of three items, namely: · Common Equity Tier I: the sum of capital, reserves and retained earnings, less deductions and
prudential adjustments. · Additional Tier I Capital: consists of instruments of a perpetual nature, which meet eligibility requirements. Together with Common Equity Tier I it makes up Tier I. · Tier II: consists of subordinated debt
instruments with defined maturity dates that meet eligibility requirements.Together with the Common Equity Tier I and the Additional Tier I Capital, it makes up the Total Capital. Composition of Referential Equity 03/31/2019 12/31/2018
Stockholders’ equity attributable to controlling interests 119,824 131,757 Non-controlling interests 12,427 12,276 Change in interest in subsidiaries in a capital transaction 71 98 Consolidated Stockholders’ Equity (BACEN) 132,322
144,131 Common Equity Tier I Prudential Adjustments (23,166) (20,773) Common Equity Tier I 109,156 123,358 Instruments Eligible to Comprise Additional Tier I 10,868 7,701 Additional Tier I Prudential Adjustments 100 95 Additional Tier I Capital
10,968 7,796 Tier I (Common Equity Tier I + Additional Tier I Capital) 120,124 131,154 Instruments Eligible to Comprise Tier II 11,833 15,778 Tier II Prudential Adjustments 99 96 Tier II 11,932 15,874 Referential Equity (Tier I + Tier II) 132,056
147,028 F-126 Itaú Unibanco Holding S.A. c) Capital Management Governance ITAÚ UNIBANCO HOLDING is subject to the requirements of BACEN, which determines minimum capital requirements, procedures to assess information on globally systemic
important banks (G-SIB), fixed asset limits, loan limits, accounting practices and require banks to conform to the regulation based on the Basel Accord for capital adequacy purposes. Additionally, the CNSP and SUSEP issue regulations on capital
requirements that impact our insurance operations, and private pension and capitalization plans. The capital statements were prepared in accordance with BACEN’s regulatory requirements and with internationally accepted minimum requirements
according to the Bank for International Settlements (BIS). I - Composition of capital The Referential Equity (PR) used to monitor the compliance with the operational limits imposed by BACEN, is the sum of three items, namely: · Common Equity
Tier I: the sum of capital, reserves and retained earnings, less deductions and prudential adjustments. · Additional Tier I Capital: consists of instruments of a perpetual nature, which meet eligibility requirements. Together with Common Equity
Tier I it makes up Tier I. · Tier II: consists of subordinated debt instruments with defined maturity dates that meet eligibility requirements.Together with the Common Equity Tier I and the Additional Tier I Capital, it makes up the Total
Capital. Composition of Referential Equity 03/31/2019 12/31/2018 Stockholders’ equity attributable to controlling interests 119,824 131,757 Non-controlling interests 12,427 12,276 Change in interest in subsidiaries in a capital transaction 71
98 Consolidated Stockholders’ Equity (BACEN) 132,322 144,131 Common Equity Tier I Prudential Adjustments (23,166) (20,773) Common Equity Tier I 109,156 123,358 Instruments Eligible to Comprise Additional Tier I 10,868 7,701 Additional Tier I
Prudential Adjustments 100 95 Additional Tier I Capital 10,968 7,796 Tier I (Common Equity Tier I + Additional Tier I Capital) 120,124 131,154 Instruments Eligible to Comprise Tier II 11,833 15,778 Tier II Prudential Adjustments 99 96 Tier II 11,932
15,874 Referential Equity (Tier I + Tier II) 132,056 147,028 F-126
Itaú Unibanco Holding S.A. The funds obtained through the issuance
of subordinated debt securities are considered Tier II capital for the purpose of capital to risk- weighted assets ratio, as follows. According to current legislation, the accounting balance of subordinated debt as of December 2012 was used for the
calculation of reference equity as of March 2019, considering instruments approved after the closing date to compose Tier II, totaling R$ 35,372. Account Principal amount Name of security / currency Issue Maturity Return p.a. balance (original
currency) 03/31/2019 Subordinated financial bills - BRL 2 2011 2019 109% to 109.7% of CDI 4 60 2012 2019 IPCA + 4.7% to 5.14% 97 1 2020 111% of CDI 2 20 IPCA + 6% to 6.17% 46 6 2011 2021 109.25% to 110.5% of CDI 13 2 ,307 2012 2022 IPCA + 5.15% to
5.83% 4 ,698 20 IGPM + 4.63% 29 2 ,416 Total 4,889 Subordinated euronotes - USD 990 2010 2020 6.20% 3,965 1,000 2010 2021 5.75% 3,941 730 2011 2021 5,75% to 6,20% 2 ,918 550 2012 2021 6.20% 2,143 2,600 2012 2022 5,50% to 5,65% 1 0,173 2012 2023 7
,343 1,851 5.13% 7 ,721 Total 30,483 Total 35,372 Perpetual subordinate notes / Supplementary Capital (AT1), issued on January, 2019, were approved by BACEN, increasing by 0.3 p.p. the Tier I Capital index of ITAÚ UNIBANCO HOLDING. II - Capital
Requirements in Place and In Progress ITAÚ UNIBANCO HOLDING’s minimum capital requirements are expressed as ratios obtained from the ratio between available capital and the Risk-Weighted Assets (RWA). Schedule for Basel III implementation
st As From January 1 , (1) 2018 2019 Common Equity Tier I 4.5% 4.5% Tier I 6.0% 6.0% Total Capital 8.625% 8.0% Additional Capital Buffers (ACP) 2.375% 3.5% Conservation 1.875% 2.5% (2) 0% 0% Countercyclical (3) 0.5% 1.0% Systemic Common Equity Tier
I + ACP 6.875% 8.0% Total Capital + ACP 11.0% 11.5% Prudential Adjustments Deductions 100% 100% st (1) Requirements in force as from January 1 , 2019. (2) ACP is triggered during the credit cycle expansion phase. Additionally, in the event of
increase of countercyclical Countercyclical additional, the new percentage will be in effect only twelve months after it is announced. (3) The calculation of ACP associates the systemic importance, represented by the institution’s total
exposure, to Gross Systemic Domestic Product (GDP). III - Risk-Weighted Assets (RWA) For assessing the minimum capital requirements, the RWA must be calculated by adding the following risk exposures: RWA = RWACPAD + RWAMINT + RWAOPAD F-127 Itaú
Unibanco Holding S.A. The funds obtained through the issuance of subordinated debt securities are considered Tier II capital for the purpose of capital to risk- weighted assets ratio, as follows. According to current legislation, the accounting
balance of subordinated debt as of December 2012 was used for the calculation of reference equity as of March 2019, considering instruments approved after the closing date to compose Tier II, totaling R$ 35,372. Account Principal amount Name of
security / currency Issue Maturity Return p.a. balance (original currency) 03/31/2019 Subordinated financial bills - BRL 2 2011 2019 109% to 109.7% of CDI 4 60 2012 2019 IPCA + 4.7% to 5.14% 97 1 2020 111% of CDI 2 20 IPCA + 6% to 6.17% 46 6 2011
2021 109.25% to 110.5% of CDI 13 2 ,307 2012 2022 IPCA + 5.15% to 5.83% 4 ,698 20 IGPM + 4.63% 29 2 ,416 Total 4,889 Subordinated euronotes - USD 990 2010 2020 6.20% 3,965 1,000 2010 2021 5.75% 3,941 730 2011 2021 5,75% to 6,20% 2 ,918 550 2012 2021
6.20% 2,143 2,600 2012 2022 5,50% to 5,65% 1 0,173 2012 2023 7 ,343 1,851 5.13% 7 ,721 Total 30,483 Total 35,372 Perpetual subordinate notes / Supplementary Capital (AT1), issued on January, 2019, were approved by BACEN, increasing by 0.3 p.p. the
Tier I Capital index of ITAÚ UNIBANCO HOLDING. II - Capital Requirements in Place and In Progress ITAÚ UNIBANCO HOLDING’s minimum capital requirements are expressed as ratios obtained from the ratio between available capital and the
Risk-Weighted Assets (RWA). Schedule for Basel III implementation st As From January 1 , (1) 2018 2019 Common Equity Tier I 4.5% 4.5% Tier I 6.0% 6.0% Total Capital 8.625% 8.0% Additional Capital Buffers (ACP) 2.375% 3.5% Conservation 1.875% 2.5%
(2) 0% 0% Countercyclical (3) 0.5% 1.0% Systemic Common Equity Tier I + ACP 6.875% 8.0% Total Capital + ACP 11.0% 11.5% Prudential Adjustments Deductions 100% 100% st (1) Requirements in force as from January 1 , 2019. (2) ACP is triggered during
the credit cycle expansion phase. Additionally, in the event of increase of countercyclical Countercyclical additional, the new percentage will be in effect only twelve months after it is announced. (3) The calculation of ACP associates the systemic
importance, represented by the institution’s total exposure, to Gross Systemic Domestic Product (GDP). III - Risk-Weighted Assets (RWA) For assessing the minimum capital requirements, the RWA must be calculated by adding the following risk
exposures: RWA = RWACPAD + RWAMINT + RWAOPAD F-127
Itaú Unibanco Holding S.A. 03/31/2019 12/31/2018 (1) 705,894 714,969
Credit risk (RWA ) CPAD (2) 36,583 30,270 Market risk (RWA ) MINT (3) Operacional risk (RWAP ) 81,341 72,833 OPAD Total risk-weighted assets 823,818 818,072 (1) Portion related to exposures to credit risk, calculated using the standardized approach;
(2) Portion related to capital required for market risk, composed of the maximum between the internal model and 80% of the standardized model, regulated by BACEN Circulars 3,646 and 3,674; (3) Portion related to capital required for operational
risk, calculated based on the standardized approach. The tables below present the breakdown of credit, market and operational risk weighted assets, respectively. a) Credit Risk Exposure Weighted by Credit Risk (RWA ) CPAD 03/31/2019 12/31/2018
Exposure Weighted by Credit Risk (RWA ) 705,894 714,969 CPAD Marketable securities 38,835 40,276 Loan Operations - Retail 125,870 124,356 Loan Operations - Non-Retail 260,648 256,958 Joint Liabilities - Retail 144 140 Joint Liabilities - Non-Retail
42,495 43,288 Loan Commitments - Retail 34,679 33,871 Loan Commitments - Non-Retail 10,367 10,673 Derivatives – Future potential gain 4,288 4,193 Agency Transition 1,956 3,330 Other exposures 186,612 197,884 b) Market Risk
(1) (1) 03/31/2019 12/31/2018 Market Risk Weighted Assets - Standard Aproach (RWA ) 42,307 37,838 MPAD Operations subject to interest rate variations 39,666 30,286 Fixed rate denominated in reais 2,531 2,026 Foreign exchange coupons 24,013 19,633
Price index coupon 13,122 8,627 Operations subject to commodity price variation 553 389 Operations subject to stock price variation 457 362 Operations subject to risk exposures in gold, foreign currency and foreign exchange 1,632 6,801 variation (1)
Minimum Market Risk Weighted Assets - Standard Aproach (RWA ) (a) 33,846 30,270 MPAD Market Risk Weighted Assets calculated based on internal methodology (b) 36,583 22,871 Reduction of Market Risk Weighted Assets due to Internal Models Aproach
(5,724) (7,568) Market Risk Weighted Assets (RWA ) - maximum of (a) and (b) 36,583 30,270 MINT (1) Calculated based on internal models, with maximum saving possibility of 20% of the standard model. At March 31, 2019, RWAMINT totaled R$ 36,583, which
corresponds to 80% of RWAMPAD, higher than the capital calculated at internal models, which totaled R$ 33,846. F-128 Itaú Unibanco Holding S.A. 03/31/2019 12/31/2018 (1) 705,894 714,969 Credit risk (RWA ) CPAD (2) 36,583 30,270 Market risk (RWA
) MINT (3) Operacional risk (RWAP ) 81,341 72,833 OPAD Total risk-weighted assets 823,818 818,072 (1) Portion related to exposures to credit risk, calculated using the standardized approach; (2) Portion related to capital required for market risk,
composed of the maximum between the internal model and 80% of the standardized model, regulated by BACEN Circulars 3,646 and 3,674; (3) Portion related to capital required for operational risk, calculated based on the standardized approach. The
tables below present the breakdown of credit, market and operational risk weighted assets, respectively. a) Credit Risk Exposure Weighted by Credit Risk (RWA ) CPAD 03/31/2019 12/31/2018 Exposure Weighted by Credit Risk (RWA ) 705,894 714,969 CPAD
Marketable securities 38,835 40,276 Loan Operations - Retail 125,870 124,356 Loan Operations - Non-Retail 260,648 256,958 Joint Liabilities - Retail 144 140 Joint Liabilities - Non-Retail 42,495 43,288 Loan Commitments - Retail 34,679 33,871 Loan
Commitments - Non-Retail 10,367 10,673 Derivatives – Future potential gain 4,288 4,193 Agency Transition 1,956 3,330 Other exposures 186,612 197,884 b) Market Risk (1) (1) 03/31/2019 12/31/2018 Market Risk Weighted Assets - Standard Aproach
(RWA ) 42,307 37,838 MPAD Operations subject to interest rate variations 39,666 30,286 Fixed rate denominated in reais 2,531 2,026 Foreign exchange coupons 24,013 19,633 Price index coupon 13,122 8,627 Operations subject to commodity price variation
553 389 Operations subject to stock price variation 457 362 Operations subject to risk exposures in gold, foreign currency and foreign exchange 1,632 6,801 variation (1) Minimum Market Risk Weighted Assets - Standard Aproach (RWA ) (a) 33,846 30,270
MPAD Market Risk Weighted Assets calculated based on internal methodology (b) 36,583 22,871 Reduction of Market Risk Weighted Assets due to Internal Models Aproach (5,724) (7,568) Market Risk Weighted Assets (RWA ) - maximum of (a) and (b) 36,583
30,270 MINT (1) Calculated based on internal models, with maximum saving possibility of 20% of the standard model. At March 31, 2019, RWAMINT totaled R$ 36,583, which corresponds to 80% of RWAMPAD, higher than the capital calculated at internal
models, which totaled R$ 33,846. F-128
Itaú Unibanco Holding S.A. c) Operational Risk 03/31/2019 12/31/2018
Operational Risk-Weighted Assets (RWA ) 81,341 72,833 OPAD Retail 13,985 12,822 Commercial 27,818 26,214 Corporate finance 2,819 2,697 Negotiation and sales 15,461 11,736 Payments and settlement 8,897 8,282 Financial agent services 4,672 4,343 Asset
management 7,661 6,715 Retail brokerage 27 24 IV - Capital Adequacy The Board of Directors is the body responsible for approving the capital management institutional policy and guidelines for the capitalization level of ITAÚ UNIBANCO HOLDING.
The Board is also responsible for the full approval of the ICAAP (Internal Capital Adequacy Assessment Process) report, which purpose is to assess the capital adequacy of ITAÚ UNIBANCO HOLDING. The result of the last ICAAP – conducted for
the base date December 2018 – indicated that ITAÚ UNIBANCO HOLDING has, in addition to capital to face all material risks, a significant capital surplus, thus assuring the institution’s equity soundness. In order to ensure the
soundness of ITAÚ UNIBANCO HOLDING and the availability of capital to support business growth, ITAÚ UNIBANCO HOLDING maintains PR levels above the minimum level required to face risks, as evidenced by the Common Equity, Tier I Capital and
Basel ratios. The Basel Ratio reached 16% on March 31, 2018, with a reduction of 2.0 percentage points in relation to December 31, 2018, mainly due to the payment of additional dividends related to the 2018 net income. Additionally, ITAÚ
UNIBANCO HOLDING has a surplus in relation to the minimum Referential Equity required in the amount of R$ 66,151, higher than the ACP of R$ 28,834, widely covered by the available capital. 03/31/2019 12/31/2018 Amount Ratio Amount Ratio Required
Current Required Current Required Current Required Current Common Equity Tier I 37,072 109,156 4.5% 13.3% 36,813 123,358 4.5% 15.1% Additional Tier I Capital 10,968 - - - 7,796 - - Tier I (Common Equity Tier I + Additional Tier I Capital) 49,429
120,124 6.0% 14.6% 49,084 131,154 6.0% 16.0% Tier II 11,932 - - - 15,874 - - Referential Equity (Tier I + Tier II) 65,905 132,056 8.0% 16.0% 70,559 147,028 8.625% 18.0% Amount Required for Additional Capital Buffers (ACP) 28,834 3.5% 19,429 2.375%
The fixed assets ratio shows the commitment percentage of adjusted Referential Equity with adjusted permanent assets. ITAÚ UNIBANCO HOLDING falls within the maximum limit of 50% of adjusted RE, established by BACEN. At 03/31/2019 , fixed assets
ratio reached 28.3%, showing a surplus of R$ 28,666 million. Further details on Risk and Capital Management of ITAÚ UNIBANCO HOLDING and indicators of the Global Systemic Importance Index, which are not included in the financial statements, may
be viewed on www.itau.com.br/relacoes-com-investidores “Reports”/ Pillar 3 and Global Systemically Important Banks. F-129 Itaú Unibanco Holding S.A. c) Operational Risk 03/31/2019 12/31/2018 Operational Risk-Weighted Assets (RWA )
81,341 72,833 OPAD Retail 13,985 12,822 Commercial 27,818 26,214 Corporate finance 2,819 2,697 Negotiation and sales 15,461 11,736 Payments and settlement 8,897 8,282 Financial agent services 4,672 4,343 Asset management 7,661 6,715 Retail brokerage
27 24 IV - Capital Adequacy The Board of Directors is the body responsible for approving the capital management institutional policy and guidelines for the capitalization level of ITAÚ UNIBANCO HOLDING. The Board is also responsible for the
full approval of the ICAAP (Internal Capital Adequacy Assessment Process) report, which purpose is to assess the capital adequacy of ITAÚ UNIBANCO HOLDING. The result of the last ICAAP – conducted for the base date December 2018 –
indicated that ITAÚ UNIBANCO HOLDING has, in addition to capital to face all material risks, a significant capital surplus, thus assuring the institution’s equity soundness. In order to ensure the soundness of ITAÚ UNIBANCO HOLDING
and the availability of capital to support business growth, ITAÚ UNIBANCO HOLDING maintains PR levels above the minimum level required to face risks, as evidenced by the Common Equity, Tier I Capital and Basel ratios. The Basel Ratio reached
16% on March 31, 2018, with a reduction of 2.0 percentage points in relation to December 31, 2018, mainly due to the payment of additional dividends related to the 2018 net income. Additionally, ITAÚ UNIBANCO HOLDING has a surplus in relation
to the minimum Referential Equity required in the amount of R$ 66,151, higher than the ACP of R$ 28,834, widely covered by the available capital. 03/31/2019 12/31/2018 Amount Ratio Amount Ratio Required Current Required Current Required Current
Required Current Common Equity Tier I 37,072 109,156 4.5% 13.3% 36,813 123,358 4.5% 15.1% Additional Tier I Capital 10,968 - - - 7,796 - - Tier I (Common Equity Tier I + Additional Tier I Capital) 49,429 120,124 6.0% 14.6% 49,084 131,154 6.0% 16.0%
Tier II 11,932 - - - 15,874 - - Referential Equity (Tier I + Tier II) 65,905 132,056 8.0% 16.0% 70,559 147,028 8.625% 18.0% Amount Required for Additional Capital Buffers (ACP) 28,834 3.5% 19,429 2.375% The fixed assets ratio shows the commitment
percentage of adjusted Referential Equity with adjusted permanent assets. ITAÚ UNIBANCO HOLDING falls within the maximum limit of 50% of adjusted RE, established by BACEN. At 03/31/2019 , fixed assets ratio reached 28.3%, showing a surplus of
R$ 28,666 million. Further details on Risk and Capital Management of ITAÚ UNIBANCO HOLDING and indicators of the Global Systemic Importance Index, which are not included in the financial statements, may be viewed on
www.itau.com.br/relacoes-com-investidores “Reports”/ Pillar 3 and Global Systemically Important Banks. F-129
Itaú Unibanco Holding S.A. V - Stress testing The stress test is a
process of simulation of extreme economic and market conditions in the institution’s results and capital. The institution has conducted this test since 2010 aiming at assessing its solvency in plausible scenarios of a systemic crisis, as well
as at identifying areas that are more susceptible to the impact of stress, and that can be subject to risk mitigation. To perform the test, macroeconomic variables for each stress scenario are estimated by the economic research department. The
scenarios are established considering their relevance to the bank’s result, and the probability of occurrence, and they are submitted to the approval of the Board of Directors on an annual basis. Projections of macroeconomic variables (GDP,
benchmark interest rate and inflation) and of the credit market (fundraising, loans, default rate, spread and fees) for these scenarios are generated based on exogenous shocks or by using models validated by an independent area. These projections
affect the budgeted result and balance sheet that then change the risk-weighted assets and capital and liquidity ratios. The stress test is also an integral part of ICAAP, with the main purpose of assessing whether, even in severe adverse
conditions, the institution would have appropriate capital levels, not impacting the development of its activities. This information allows to identify potential factors of risks on businesses, supporting the Board of Directors’ strategic
decisions, the budgetary process and discussions on credit granting policies, in addition to being used as input for risk appetite metrics. Further details on Risk and Capital Management of ITAÚ UNIBANCO HOLDING and indicators of the Global
Systemic Importance Index, which are not included in the financial statements, may be viewed on www.itau.com.br/investor-relations, section “Reports”/ Pillar 3 and Global Systemically Important Banks. VI – Leverage Ratio The
Leverage Ratio is defined as the rate between Capital Tier I and Total Exposure, calculated pursuant to BACEN Circular 3,748, of February 27, 2015. The purpose of this ratio is to be a simple measure of leverage not sensitive to risk, thus it does
not consider weighting or mitigation factors. According to instructions provided by BACEN Circular Letter 3,706, of May 5, 2015, since October 2015, ITAÚ UNIBANCO HOLDING has sent the Leverage Ratio to BACEN, in accordance with Basel
recommendations, and the basis was established as the ratio behavior observation period since its implementation in 2011 until 2017. More information on the composition of the Leverage Ratio, which are not part of its financial statements, is
available at www.itau.com.br/investors-relations, “Reports” / Pillar 3 and Global Systemically Important Banks. d) Management Risks of insurance and private pension I – Management Structure, roles and responsibilities In line with
good national and international practices, ITAÚ UNIBANCO HOLDING has a risk management structure that ensures that the risks arising from insurance, pension plan and capitalization products are properly reported to the proper bodies. The
management process of insurance, pension plan and capitalization risks is independent and focused on the specifics of each risk. ITAÚ UNIBANCO HOLDING has specific committees to define the management of funds from the technical reserves for
insurance and private pension, issue guidelines for managing these funds with the objective of achieving long term return, and define evaluation models, risk limits and strategies on allocation of funds to defined financial assets. Such committees
are comprised not only of executives and those directly responsible for the business management process, but also for an equal number of professionals that head up or coordinate the commercial and financial areas. F-130 Itaú Unibanco Holding
S.A. V - Stress testing The stress test is a process of simulation of extreme economic and market conditions in the institution’s results and capital. The institution has conducted this test since 2010 aiming at assessing its solvency in
plausible scenarios of a systemic crisis, as well as at identifying areas that are more susceptible to the impact of stress, and that can be subject to risk mitigation. To perform the test, macroeconomic variables for each stress scenario are
estimated by the economic research department. The scenarios are established considering their relevance to the bank’s result, and the probability of occurrence, and they are submitted to the approval of the Board of Directors on an annual
basis. Projections of macroeconomic variables (GDP, benchmark interest rate and inflation) and of the credit market (fundraising, loans, default rate, spread and fees) for these scenarios are generated based on exogenous shocks or by using models
validated by an independent area. These projections affect the budgeted result and balance sheet that then change the risk-weighted assets and capital and liquidity ratios. The stress test is also an integral part of ICAAP, with the main purpose of
assessing whether, even in severe adverse conditions, the institution would have appropriate capital levels, not impacting the development of its activities. This information allows to identify potential factors of risks on businesses, supporting
the Board of Directors’ strategic decisions, the budgetary process and discussions on credit granting policies, in addition to being used as input for risk appetite metrics. Further details on Risk and Capital Management of ITAÚ UNIBANCO
HOLDING and indicators of the Global Systemic Importance Index, which are not included in the financial statements, may be viewed on www.itau.com.br/investor-relations, section “Reports”/ Pillar 3 and Global Systemically Important Banks.
VI – Leverage Ratio The Leverage Ratio is defined as the rate between Capital Tier I and Total Exposure, calculated pursuant to BACEN Circular 3,748, of February 27, 2015. The purpose of this ratio is to be a simple measure of leverage not
sensitive to risk, thus it does not consider weighting or mitigation factors. According to instructions provided by BACEN Circular Letter 3,706, of May 5, 2015, since October 2015, ITAÚ UNIBANCO HOLDING has sent the Leverage Ratio to BACEN, in
accordance with Basel recommendations, and the basis was established as the ratio behavior observation period since its implementation in 2011 until 2017. More information on the composition of the Leverage Ratio, which are not part of its financial
statements, is available at www.itau.com.br/investors-relations, “Reports” / Pillar 3 and Global Systemically Important Banks. d) Management Risks of insurance and private pension I – Management Structure, roles and
responsibilities In line with good national and international practices, ITAÚ UNIBANCO HOLDING has a risk management structure that ensures that the risks arising from insurance, pension plan and capitalization products are properly reported to
the proper bodies. The management process of insurance, pension plan and capitalization risks is independent and focused on the specifics of each risk. ITAÚ UNIBANCO HOLDING has specific committees to define the management of funds from the
technical reserves for insurance and private pension, issue guidelines for managing these funds with the objective of achieving long term return, and define evaluation models, risk limits and strategies on allocation of funds to defined financial
assets. Such committees are comprised not only of executives and those directly responsible for the business management process, but also for an equal number of professionals that head up or coordinate the commercial and financial areas. F-130
Itaú Unibanco Holding S.A. II – Risks of Insurance and Private
Pension ITAÚ UNIBANCO HOLDING offers its products to clients through bancassurance or direct distribution. Life, accident, credit life and multiple peril insurance products are mainly distributed by bancassurance operation. Life insurance and
pension plans are, in general, medium or long-lived products and the main risks involved in the business may be classified as biometric risk, financial and behaviorall. · Biometric risk relates to: i) more than expected increase in life
expectancies for products with survivorship coverage (mostly pension plans); and ii) more than expected decrease in mortality rates for products with survivorship coverage (mostly life insurance). · Financial risk: is inherent in the
underwriting risk of products that offer a financial guarantee pre- established in an agreement, and this risk is considered insurance risk · Behavioral risk relates to a more than expected increase in the rates of conversion into annuity
income, resulting in increased payments of retirement benefits. The estimated actuarial assumptions are based on the historical evaluation of ITAÚ UNIBANCO HOLDING, on benchmarks and the experience of the actuaries. F-131 Itaú Unibanco
Holding S.A. II – Risks of Insurance and Private Pension ITAÚ UNIBANCO HOLDING offers its products to clients through bancassurance or direct distribution. Life, accident, credit life and multiple peril insurance products are mainly
distributed by bancassurance operation. Life insurance and pension plans are, in general, medium or long-lived products and the main risks involved in the business may be classified as biometric risk, financial and behaviorall. · Biometric risk
relates to: i) more than expected increase in life expectancies for products with survivorship coverage (mostly pension plans); and ii) more than expected decrease in mortality rates for products with survivorship coverage (mostly life insurance).
· Financial risk: is inherent in the underwriting risk of products that offer a financial guarantee pre- established in an agreement, and this risk is considered insurance risk · Behavioral risk relates to a more than expected increase in
the rates of conversion into annuity income, resulting in increased payments of retirement benefits. The estimated actuarial assumptions are based on the historical evaluation of ITAÚ UNIBANCO HOLDING, on benchmarks and the experience of the
actuaries. F-131
Itaú Unibanco Holding S.A. a) Effect of changes on actuarial
assumptions To measure the effects of changes in the key actuarial assumptions, sensitivity tests were conducted in the amounts of current estimates of future liability cash flows. The sensitivity analysis considers a vision of the impacts caused by
changes in assumptions, which could affect the income for the period and stockholders’ equity at the balance sheet date. This type of analysis is usually conducted under the ceteris paribus condition, in which the sensitivity of a system is
measured when one variable of interest is changed and all the others remain unchanged. The results obtained are shown in the table below: (1) Impact in Results and Stockholders’ Equity (2) 12/31/2018 03/31/2019 Sensitivity analysis Private
Pension Insurance Private Pension Insurance Mortality Rates 5% increase 15 (1) 15 (1) 5% decrease ( 16) (1) ( 16) (1) Risk-free Interest Rates 0.1% increase 30 8 30 8 0.1% decrease ( 44) (8) ( 44) (8) Conversion in Income Rates 5% increase ( 14) - (
14) - 5% decrease 14 - 14 - Claims 5% increase - (37) - (37) 5% decrease - 37 - 37 (1) Amounts net of tax effects. (2) The amounts shown in the tables express the position at 12/31/2018, since the actuarial calculations are made semi-annually. F-132
Itaú Unibanco Holding S.A. a) Effect of changes on actuarial assumptions To measure the effects of changes in the key actuarial assumptions, sensitivity tests were conducted in the amounts of current estimates of future liability cash flows.
The sensitivity analysis considers a vision of the impacts caused by changes in assumptions, which could affect the income for the period and stockholders’ equity at the balance sheet date. This type of analysis is usually conducted under the
ceteris paribus condition, in which the sensitivity of a system is measured when one variable of interest is changed and all the others remain unchanged. The results obtained are shown in the table below: (1) Impact in Results and
Stockholders’ Equity (2) 12/31/2018 03/31/2019 Sensitivity analysis Private Pension Insurance Private Pension Insurance Mortality Rates 5% increase 15 (1) 15 (1) 5% decrease ( 16) (1) ( 16) (1) Risk-free Interest Rates 0.1% increase 30 8 30 8
0.1% decrease ( 44) (8) ( 44) (8) Conversion in Income Rates 5% increase ( 14) - ( 14) - 5% decrease 14 - 14 - Claims 5% increase - (37) - (37) 5% decrease - 37 - 37 (1) Amounts net of tax effects. (2) The amounts shown in the tables express the
position at 12/31/2018, since the actuarial calculations are made semi-annually. F-132
Itaú Unibanco Holding S.A. b) Risk concentration For ITAÚ
UNIBANCO HOLDING, there is no product concentration in relation to insurance premiums, reducing the risk of product concentration and distribution channels. 01/01 to 03/31/2019 01/01 to 03/31/2018 Insurance Retained Retention Insurance Retained
Retention premiums premium (%) premiums premium (%) Individuals Group accident insurance 181 181 100.0 151 150 99.3 Individual accident 58 58 100.0 72 78 108.3 Credit life 240 240 100.0 210 210 100.0 Group life 228 228 100.0 225 231 102.7 III)
Market, credit and liquidity risk a) Market risk Market risk is analyzed, in relation to insurance operations, based on the following metrics and sensitivity and loss control measures: Value at Risk (VaR), Losses in Stress Scenarios (Stress Test),
Sensitivity (DV01- Delta Variation) and Concentration. In the table, the sensitivity analysis (DV01 – Delta Variation) is presented in relation to insurance operations that demonstrate the impact on the cash flows market value when submitted
to a 1 annual basis point increase in the current interest rates or index rate and 1 percentage point in the share price and currency. 0 03/31/2019 12/31/2018 Class Account Account DV01 DV01 balance balance Government securities NTN-C 5,179 (2.61)
5,096 (2.70) NTN-B 6,643 (7.69) 6,091 (7.17) LTN 125 - - - Private securities Indexed to IPCA 202 (0.04) 259 (0.06) Indexed to PRE 2 - 10 - Shares 1 - Floating assets 4,722 - 4,085 - Under agreements to resell 3,764 - 5,575 - F-133 Itaú
Unibanco Holding S.A. b) Risk concentration For ITAÚ UNIBANCO HOLDING, there is no product concentration in relation to insurance premiums, reducing the risk of product concentration and distribution channels. 01/01 to 03/31/2019 01/01 to
03/31/2018 Insurance Retained Retention Insurance Retained Retention premiums premium (%) premiums premium (%) Individuals Group accident insurance 181 181 100.0 151 150 99.3 Individual accident 58 58 100.0 72 78 108.3 Credit life 240 240 100.0 210
210 100.0 Group life 228 228 100.0 225 231 102.7 III) Market, credit and liquidity risk a) Market risk Market risk is analyzed, in relation to insurance operations, based on the following metrics and sensitivity and loss control measures: Value at
Risk (VaR), Losses in Stress Scenarios (Stress Test), Sensitivity (DV01- Delta Variation) and Concentration. In the table, the sensitivity analysis (DV01 – Delta Variation) is presented in relation to insurance operations that demonstrate the
impact on the cash flows market value when submitted to a 1 annual basis point increase in the current interest rates or index rate and 1 percentage point in the share price and currency. 0 03/31/2019 12/31/2018 Class Account Account DV01 DV01
balance balance Government securities NTN-C 5,179 (2.61) 5,096 (2.70) NTN-B 6,643 (7.69) 6,091 (7.17) LTN 125 - - - Private securities Indexed to IPCA 202 (0.04) 259 (0.06) Indexed to PRE 2 - 10 - Shares 1 - Floating assets 4,722 - 4,085 - Under
agreements to resell 3,764 - 5,575 - F-133
Itaú Unibanco Holding S.A. b) Liquidity Risk Liquidity risk is the
risk that ITAÚ UNIBANCO HOLDING may have insufficient net funds available to honor its current obligations at a given moment. The liquidity risk is managed, for insurance operation, continuously based on the monitoring of payment flows related
to its liabilities vis a vis the inflows generated by its operations and financial assets portfolio. Financial assets are managed in order to optimize the risk-return ratio of investments, considering, on a careful basis, the characteristics of
their liabilities. The risk integrated control considers the concentration limits by issuer and credit risk, sensitivities and market risk limits and control over asset liquidity risk. Thus, investments are concentrated in government and private
securities with good credit quality in active and liquid markets, keeping a considerable amount invested in short- term assets, available on demand, to cover regular needs and any liquidity contingencies. Additionally, ITAÚ UNIBANCO HOLDING
constantly monitors the solvency conditions of its insurance operations. Liabilities Assets 03/31/2019 12/31/2018 Liabilities Liabilities Assets Liabilities Liabilities Assets (1) (2) (2) (1) (2) (2) Insurance operations Backing asset amounts DU DU
amounts DU DU Unearned premiums LFT, repurchase agreements, NTN-B, CDB, LF and debentures 2,170 56.7 12.6 2,111 56.7 12.6 IBNR, PDR e PSL LFT, repurchase agreements, NTN-B, CDB, LF and debentures 937 48.0 18.5 927 48.0 18.5 99.2 32.3 99.2 32.3 Other
provisions LFT, repurchase agreements, NTN-B, CDB, LF and debentures 564 562 Subtotal Subtotal 3,671 3,600 Pension plan, VGBL and individual life operations Related expenses LFT, repurchase agreements, NTN-B, CDB, LF and debentures 100 128.4 75.9 98
128.4 75.9 Unearned premiums LFT, repurchase agreements, NTN-B, CDB and debentures 12 - 11.0 13 - 11.0 Unsettled claims LFT, repurchase agreements, NTN-B, CDB and debentures 45 - 11.0 43 - 11.0 IBNR LFT, repurchase agreements, NTN-B, CDB and
debentures 25 15.4 11.0 25 15.4 11.0 11.0 11.0 Redemptions and Other Unsettled Amounts LFT, repurchase agreements, NTN-B, CDB and debentures 463 - 310 - Mathematical reserve for benefits granted LFT, repurchase agreements, LTN, NTN-B, NTN-C, NTN-F,
CDB, LF and debentures 2,869 120.4 71.4 2,820 120.4 71.4 (3) Mathematical reserve for benefits to be granted – PGBL/ VGBL LFT, repurchase agreements, LTN, NTN-B, NTN-C, NTN-F, CDB, LF and debentures 191,411 182.0 28.2 187,908 182.0 28.2 209.0
91.7 209.0 91.7 Mathematical reserve for benefits to be granted – traditional LFT, repurchase agreements, NTN-B, NTN-C, debentures 4,890 4,815 Other provisions LFT, repurchase agreements, NTN-B, NTN-C, CDB, LF and debentures 957 165.5 91.7 948
165.5 91.7 Financial surplus LFT, repurchase agreements, NTN-B, NTN-C, CDB, LF and debentures 598 208.8 91.5 607 208.8 91.5 Subtotal Subtotal 201,370 197,587 Total technical reserves Total backing assets 205,041 201,187 (1) Gross amounts of Credit
Rights, Escrow Deposits and Reinsurance. (2) DU = Duration in months. (3) Excluding PGBL / VGBL reserves allocated in variable income. F-134 Itaú Unibanco Holding S.A. b) Liquidity Risk Liquidity risk is the risk that ITAÚ UNIBANCO HOLDING
may have insufficient net funds available to honor its current obligations at a given moment. The liquidity risk is managed, for insurance operation, continuously based on the monitoring of payment flows related to its liabilities vis a vis the
inflows generated by its operations and financial assets portfolio. Financial assets are managed in order to optimize the risk-return ratio of investments, considering, on a careful basis, the characteristics of their liabilities. The risk
integrated control considers the concentration limits by issuer and credit risk, sensitivities and market risk limits and control over asset liquidity risk. Thus, investments are concentrated in government and private securities with good credit
quality in active and liquid markets, keeping a considerable amount invested in short- term assets, available on demand, to cover regular needs and any liquidity contingencies. Additionally, ITAÚ UNIBANCO HOLDING constantly monitors the
solvency conditions of its insurance operations. Liabilities Assets 03/31/2019 12/31/2018 Liabilities Liabilities Assets Liabilities Liabilities Assets (1) (2) (2) (1) (2) (2) Insurance operations Backing asset amounts DU DU amounts DU DU Unearned
premiums LFT, repurchase agreements, NTN-B, CDB, LF and debentures 2,170 56.7 12.6 2,111 56.7 12.6 IBNR, PDR e PSL LFT, repurchase agreements, NTN-B, CDB, LF and debentures 937 48.0 18.5 927 48.0 18.5 99.2 32.3 99.2 32.3 Other provisions LFT,
repurchase agreements, NTN-B, CDB, LF and debentures 564 562 Subtotal Subtotal 3,671 3,600 Pension plan, VGBL and individual life operations Related expenses LFT, repurchase agreements, NTN-B, CDB, LF and debentures 100 128.4 75.9 98 128.4 75.9
Unearned premiums LFT, repurchase agreements, NTN-B, CDB and debentures 12 - 11.0 13 - 11.0 Unsettled claims LFT, repurchase agreements, NTN-B, CDB and debentures 45 - 11.0 43 - 11.0 IBNR LFT, repurchase agreements, NTN-B, CDB and debentures 25 15.4
11.0 25 15.4 11.0 11.0 11.0 Redemptions and Other Unsettled Amounts LFT, repurchase agreements, NTN-B, CDB and debentures 463 - 310 - Mathematical reserve for benefits granted LFT, repurchase agreements, LTN, NTN-B, NTN-C, NTN-F, CDB, LF and
debentures 2,869 120.4 71.4 2,820 120.4 71.4 (3) Mathematical reserve for benefits to be granted – PGBL/ VGBL LFT, repurchase agreements, LTN, NTN-B, NTN-C, NTN-F, CDB, LF and debentures 191,411 182.0 28.2 187,908 182.0 28.2 209.0 91.7 209.0
91.7 Mathematical reserve for benefits to be granted – traditional LFT, repurchase agreements, NTN-B, NTN-C, debentures 4,890 4,815 Other provisions LFT, repurchase agreements, NTN-B, NTN-C, CDB, LF and debentures 957 165.5 91.7 948 165.5 91.7
Financial surplus LFT, repurchase agreements, NTN-B, NTN-C, CDB, LF and debentures 598 208.8 91.5 607 208.8 91.5 Subtotal Subtotal 201,370 197,587 Total technical reserves Total backing assets 205,041 201,187 (1) Gross amounts of Credit Rights,
Escrow Deposits and Reinsurance. (2) DU = Duration in months. (3) Excluding PGBL / VGBL reserves allocated in variable income. F-134
Itaú Unibanco Holding S.A. c) Credit Risk I - Reinsurers Reinsurance
operations are controlled through an internal policy, in compliance with the provisions of regulatory authority of reinsurers with which ITAÚ UNIBANCO HOLDING operates. We present below the division of risks granted by the ITAÚ UNIBANCO
HOLDING’s insurance companies to reinsurance companies: - Insurance Operations: reinsurance premiums operations are basically represented by: IRB Brasil Resseguros with 97.72% (78.13% at 12/31/2018). - Social Security Operations: related to
reinsurance premiums are entirely represented by Austral with 40%, General Reinsurance with 30% and IRB Brasil Resseguros with 30% (same percentages (%s) noted at 12/31/2018). II – Premiums Receivable ITAÚ UNIBANCO HOLDING considers the
credit risk arising from past-due premiums immaterial, since cases with coverage payment in default may be canceled, pursuant to Brazilian regulation. F-135 Itaú Unibanco Holding S.A. c) Credit Risk I - Reinsurers Reinsurance operations are
controlled through an internal policy, in compliance with the provisions of regulatory authority of reinsurers with which ITAÚ UNIBANCO HOLDING operates. We present below the division of risks granted by the ITAÚ UNIBANCO HOLDING’s
insurance companies to reinsurance companies: - Insurance Operations: reinsurance premiums operations are basically represented by: IRB Brasil Resseguros with 97.72% (78.13% at 12/31/2018). - Social Security Operations: related to reinsurance
premiums are entirely represented by Austral with 40%, General Reinsurance with 30% and IRB Brasil Resseguros with 30% (same percentages (%s) noted at 12/31/2018). II – Premiums Receivable ITAÚ UNIBANCO HOLDING considers the credit risk
arising from past-due premiums immaterial, since cases with coverage payment in default may be canceled, pursuant to Brazilian regulation. F-135
Itaú Unibanco Holding S.A. III - Risk level of financial assets The
table below shows insurance financial assets, individually evaluated, classified by rating: 03/31/2019 Financial Assets at Amortized Cost financial Financial assets at instruments - fair Interbank deposits and securities purchased fair value through
Total value through other Internal rating Securities under agreements to resell profit or loss (*) comprehensive income Lower risk 6,151 123,974 126,179 91 256,395 Satisfactory - - - - Higher Risk - - 4 - 4 Total 6,151 123,974 126,183 91 256,399 %
2.4 48.4 49.2 - 100.0 (*) Includes Derivatives in the amount of R$ 780 million. 12/31/2018 Financial Assets at Amortized Cost financial Financial assets at instruments - fair Interbank deposits and securities purchased fair value through Total value
through other Internal rating Securities under agreements to resell profit or loss (*) comprehensive income Lower risk 8,247 28,969 179,771 - 216,987 Satisfactory - - 2 - 2 Higher Risk - - - - - Total 8,247 28,969 179,773 - 216,989 % 3.8 13.3 82.9 -
100.0 (*) Includes Derivatives in the amount of R$ 449 million. F-136 Itaú Unibanco Holding S.A. III - Risk level of financial assets The table below shows insurance financial assets, individually evaluated, classified by rating: 03/31/2019
Financial Assets at Amortized Cost financial Financial assets at instruments - fair Interbank deposits and securities purchased fair value through Total value through other Internal rating Securities under agreements to resell profit or loss (*)
comprehensive income Lower risk 6,151 123,974 126,179 91 256,395 Satisfactory - - - - Higher Risk - - 4 - 4 Total 6,151 123,974 126,183 91 256,399 % 2.4 48.4 49.2 - 100.0 (*) Includes Derivatives in the amount of R$ 780 million. 12/31/2018 Financial
Assets at Amortized Cost financial Financial assets at instruments - fair Interbank deposits and securities purchased fair value through Total value through other Internal rating Securities under agreements to resell profit or loss (*) comprehensive
income Lower risk 8,247 28,969 179,771 - 216,987 Satisfactory - - 2 - 2 Higher Risk - - - - - Total 8,247 28,969 179,773 - 216,989 % 3.8 13.3 82.9 - 100.0 (*) Includes Derivatives in the amount of R$ 449 million. F-136
Itaú Unibanco Holding S.A. Note 33 – Supplementary information
a) Acquisition of minority interest in Edenred Participações S.A. On September 4, 2018, ITAÚ UNIBANCO HOLDING, through its controlled company ITAÚ UNIBANCO, entered into, with Edenred Participações S.A. (EDENRED) a
strategic partnership in the benefit market to workers governed mainly by PAT – Worker’s Meal Program. EDENRED is controlled by Ticket Serviços S.A. (TICKET) in Brazil. The strategic partnership will enable ITAÚ UNIBANCO to add
the benefits issued by TICKET to its current offer of products and services focused on clients of wholesale, medium, micro and small companies segments. In addition, ITAÚ UNIBANCO will make a minority investment of 11% in TICKET, through a
capital increase with contribution of (i) cash, equivalent to said interest in the company's equity value, and (ii) right to exclusive distribution of Ticket Restaurante, Ticket Alimentação, Ticket Cultura and Ticket Transporte products to
the Bank’s legal entities base during the partnership term. TICKET will continue distributing its products through other commercial agreements and will continue under EDENRED’s control and management. The effective acquisitions and
financial settlements will occur after the required regulatory approvals. F-137 Itaú Unibanco Holding S.A. Note 33 – Supplementary information a) Acquisition of minority interest in Edenred Participações S.A. On September 4,
2018, ITAÚ UNIBANCO HOLDING, through its controlled company ITAÚ UNIBANCO, entered into, with Edenred Participações S.A. (EDENRED) a strategic partnership in the benefit market to workers governed mainly by PAT –
Worker’s Meal Program. EDENRED is controlled by Ticket Serviços S.A. (TICKET) in Brazil. The strategic partnership will enable ITAÚ UNIBANCO to add the benefits issued by TICKET to its current offer of products and services focused
on clients of wholesale, medium, micro and small companies segments. In addition, ITAÚ UNIBANCO will make a minority investment of 11% in TICKET, through a capital increase with contribution of (i) cash, equivalent to said interest in the
company's equity value, and (ii) right to exclusive distribution of Ticket Restaurante, Ticket Alimentação, Ticket Cultura and Ticket Transporte products to the Bank’s legal entities base during the partnership term. TICKET will
continue distributing its products through other commercial agreements and will continue under EDENRED’s control and management. The effective acquisitions and financial settlements will occur after the required regulatory approvals. F-137