Annual General Shareholders Meeting Gabriel Moura Chief Executive - PowerPoint PPT Presentation

Annual General Shareholders Meeting Gabriel Moura Chief Executive Officer March March 18 18 th th , , 202 2020 1

Strategic initiatives 2

Strategic initiatives Customer centricity Customer centricity Effi Efficiency ciency Evolution of Non-interest expenses 3 Individual account holders 1.0x 1.0x 2.0x 2 2.0x Individuals Individuals SM SME Comp Companies anies Merger 8.3 NPS NPS 1 NPS NPS 1 NPS NPS 1 Dec-18 Dec-19 12,8 10,8 Industry 10,8 8,8 Dec-19 vs. Dec-18 Dec-19 vs. Dec-18 Dec-19 vs. Dec-18 8,8 4.6 p.p. 4.6 15 pp 24 pp 20 pp 157 6,8 p.p. (base 100) Itaú 6,8 6.3 5.3 bel below ow sector sector 4,8 4,8 + openings average average 100 2,8 2,8 0,8 69 0,8 -0.9 53 - closures -1,2 -1,2 2015 2016 2017 2018 2019 2018 2019 Digita Digital l Tra Trans nsfo format rmation ion People People 2 Digital Digital clients Org Organizat anizational ional th best Recognized as the 9 th best 4,500 Branches Climate Climat e ( hable francamente ) com company pany in in Chile Chile in in Att Attractio raction n 198 9 p.p. 9 p.p. and Retenti and Retention of on of Talent Talent by Merco Jan-19 Jan-20 of 2019 employees satisfaction Lid Lidera era Digital Approach more than 14,000 14,000 tra training ining hours hours in our Account Load program for leaders Digital Escuela Itaú Escuela Itaú Branch Multi-Channel +400,000 tra +400,000 training ining hours hours for employees Dress Code Flexibility for (regulatory and languages workshops, Crece Employees program, Diploma at Universidad Católica for 60 Go As I Am Go As I Am Extended managers, among others) First Call Resolution Hours 1 – Servitest – Ipsos Survey: 2 – Considers the number of current accounts opened in each month; 3 – Adjusted non-interest expenses annual growth (%) for Itaú Corpbanca in Chile and the Chilean Financial System. 3

Digital transformation Strategic focus % of transactions through digital channels 4Q18 4Q19 -1 p.p. Consumer loans 83 83% 82 82% Custo Cus tomer cen mer centricit tricity Colla Co llabo borative rative worki working ng mod model el • Priorization and solutions 68 68% 85% 85 +17 p.p. Credit limits based on customer needs • Early and continuous delivery • Focus on business value Credit card advance +5 p.p. 50 50% 55 55% Time deposits 74 74% 77% 77 +3 p.p. Robo Robotic tic effici efficiency ency Analytics Analyti cs • Client onboarding • AI predictive models Mutual Funds +6 p.p. 50 50% 56% 56 • Mortgages • Geolocalization • Operations • Behavioral clusterization Retail digital clients 1 Small Small Co Compani mpanies es 3 Individuals 2 Individuals Cybersecu Cybersecurity rity Branch transformatio Branch transformation 90 90 % 78 78 % • Biometric behavior ADOPTION • Biometric solutions • Digital cyber defense • Virtual host +1 +1 % +17 +17 % IN 12 MONTHS 1 – December, 2019; 2 – IS, PB digitizable clients; 3 – Very small & small companies and Middle companies 4

Responsible banking Translating strategy into action We be We believ lieve e tha that people t people have have the the pow power er to to tran transform sform the the world world, , and and tha that t a a ban bank c k can an promote promote this tra this transformati nsformation on Commitments Achievements Main partners Goals 17 points We increased our DJSI scores in 2019 edition, ranking for the first time for the Sust Sustaina ainabil bility ity MILA Pacifi MILA Pacific c Alli Alliance Index ance Index and for the fourth consecutive year remaining part Performance Performance above sector average of the Chile Chile Index Index Itaú Asset Management awarded as the 'ALA 'ALAS20 S20 Institutio Institution' n' for being ALAS20 Responsible Respon sible recognized as a leader in: Responsible Investments, Corporate Governance and Institution Investment Investmen Sustainability Research Itaú Asset Management In 2019 we launched our our first in first integrated tegrated and and ver verified ified Annual Annual Report. Report. The 23 points quality of the information delivered to the market was recognized by the Reporta Ranking who scored as 23 points higher than the 2018 survey above 2018 score Transparency Transp rency in in Commu Communicati nication on Top 3 Best Latin The on only ly fina financi ncial al inst instit itutio ution n in in Chil Chile e and and Colo Colomb mbia ia to be part of the America Executive Institutional Investor’s list of 39 Latin American Midcap 'Most Honored Companies' Team 1 st Financial sector Voluntary commitment between the financial sector, the government and Climate Climate regulators, who have defined general principles regarding the management of risks Change Change initiative and opportunities associated with clim climate ate change change in in deci decision sion-making making 5

th quarter About About the 4 the 4 th quarter of 2019 of 2019 6

4Q19 Highlights Loans Recur Recurring ring net income Recurring RoTE NPL 90+ days Consolidated Consolidated Consolidated Consolidated 2.9 2.9 % -58 58.0 .0 % 0.7 0.7 p.p. -4.7 4.7 p.p. 2.8% Ch$17.9 bn 3.4% Ch$23.2 bn 4Q19 vs. 3Q19 4Q19 vs. 3Q19 4Q19 vs. 3Q19 4Q19 vs. 3Q19 Chile Chile Chile Chile Ch$18.3 bn Ch$21.7 bn 5.4% 2.5% -46.0 46.0 % -4.2 4.2 p.p. 0.7 0.7 p.p. 2.5 % 2.5 36. 36.0 29.2 29.2 52.8 52. 40.2 40. 21.7 21.7 9.1 9.1 7.3 7.3 13. 13.0 9.6 9.6 5.4 5.4 16.8 16.8 16.9 16.9 17.3 17.3 17.8 17.8 18.3 18.3 1.8 1.8 1.9 1.9 1.9 1.9 1.8 1.8 2.5 2.5 4Q18 1Q19 2Q19 3Q19 4Q19 4Q18 1Q19 2Q19 3Q19 4Q19 4Q18 1Q19 2Q19 3Q19 4Q19 4Q18 1Q19 2Q19 3Q19 4Q19 Commission and fees Cost of credit Margin with clients Non-Interest expenses Consolidated Consolidated Consolidated Consolidated 9.2 % 9.2 9.1 % 9.1 108.5 108.5 % 11.5 11.5 % Ch$50.6 bn Ch$220.3 bn Ch$134 bn Ch$174.6 bn 4Q19 vs. 3Q19 4Q19 vs. 3Q19 4Q19 vs. 3Q19 4Q19 vs. 3Q19 Chile Chile Chile Chile 12.0 12. 0 % Ch$40.0 bn 10.1 % 10.1 169.0 % 169.0 5.5 % 5.5 Ch$161.3 bn Ch$110 bn Ch$116.9 bn 157. 157.4 140. 140.8 146. 146.5 144. 144.0 161.3 161. 40. 40.7 39.2 39. 41.1 41. 36.3 36. 40.0 40. 50.7 50 .7 36.6 36. 41. 41.9 40. 40.9 110. 110.1 113. 113.4 111. 111.2 112.5 112.5 110.8 110. 116.9 116. 4Q18 1Q19 2Q19 3Q19 4Q19 4Q18 1Q19 2Q19 3Q19 4Q19 4Q18 1Q19 2Q19 3Q19 4Q19 4Q18 1Q19 2Q19 3Q19 4Q19 7

About 2019 About 2019 8

2019 About our year Recurring Recurring Ch$155.0 billion 7.6 % 26.1% 26. 1% 3.4 p.p. 3.4 p.p. Consoli Cons olidated dated Cons Consoli olidated dated Net Net Return Retur n on on Income Income 27.4% 27.4% Tangible Tangible 4.1 p.p. 4.1 p.p. Ch$143.9 billion 8.9 % Chile Chil Chile Chil Equity (RoTE Equity RoTE) Cost of ost of credit increased credit increased higher v higher volume of credit olume of credit in in Non-interest Non interest expenses expenses in in in Chile in Chile Chile Chile (+ 8.7 (+ 8.7%) %) and and better better mix mix Chile grew Chile grew below inflation below inflation of products of products 1.9% mainly driven by corporate credit events and regulatory and internal offset the decrease in weighted (yoy) credit risk models implementation average spread, boosting the financial margin with clients in Chile 53.0% 53.0% 5.9% 69.0% Efficiency ratio Efficiency ratio (yoy) (yoy) improved b improved by y 110 110 bp bp 9 9

2019 Macroeconomic outlook and Guidance Macroeconomic Guidance Forecast Fore cast 1 Actual Actual Actual Actual Expected Expecte 3.2% 3.2% 1.2% 1.2% GDP 2 8.7% 8.7% 8.0% 10.0% Loan Growth 8 – 10% 8 10% 9.7% 9.7% Loan Growth 3 33.3% 33.3% 33.5% 33.5% +25 bp +25 bp Increase retail in Loan Mix 6 2.7% 2.7% 3.0% 3.0% Inflation 4 Dic-18 Dic 18 Dic-19 Dic 19 1.3% 1.3% 0.7% 0.8% 3.50% 3.50% 1.75% 1.75% Interest Rate 4 Cost of Credit Risk 7 3.3% 3.3% 3.3% 3.3% GDP 2 2.7% 1.9% 1.9% Expenses in line with inflation 8 8 8 – 10% 10% 8.8% 8.8% Loan Growth 5 11.2 11.2 x Results from Colombia 9 Continued recovery in profitability 3.4% 3.4% 3.8% 3.8% Inflation 4 1 ‒ Itaú Corpbanca initial forecast for 2019 on 03/01/2019, updated projections on 11/04/2019; 2 ‒ GDP 2019 projected; 3 ‒ Pro forma figures from 2016 to 2018 adjusted for the inclusion of loans from CMR, Walmart and Santander Consumer credit 4.75% 4.75% 4.25% 4.25% Interest Rate 4 portfolios; 4 ‒ End of period; 5 ‒ Loan growth for the twelve-month period ended November 31, 2019; 6 – Retail loans refers to mortgage and consumer loan; 7 – Net provision for credit & counterparty risks; 8 – Adjusted Non-Interest Expenses; 9 – Managerial Net Income Attributable to Shareholders; evolution in Colombian Peso. 10 10

Actual Guidance: Loan growth 2019 Loan growth 8.0% 10.0% 8.7 % 8.7 % Chile Chile Total Total L Loans oans Commercial Comm ercial 1 9,7% 10,3% 8,7% 9,0% Convergence Convergence Mo Mortgag rtgage Consumer Consumer 11,2% 9,3% 1.8x Market 9,9% Reducing the gap 5,5% 1 – Ex Student loans portfolio Itaú Corpbanca Financial System 11 11