Exhibit 99.1 Management Discussion & Analysis and Complete Financial Statements 3Q19 Itaú Unibanco Holding S.A. www.itau.com.br/investor-relations @Itaú @Itaú /Itaú /bancoitau facebook.com/Itaú Exhibit 99.1 Management Discussion & Analysis and Complete Financial Statements 3Q19 Itaú Unibanco Holding S.A. www.itau.com.br/investor-relations @Itaú @Itaú /Itaú /bancoitau facebook.com/Itaú

Contents Executive Summary 03 Management Income Statement and Balance Sheet Analysis 11 Discussion & Managerial Financial Margin 12 Analysis Cost of Credit 13 Credit Quality 15 Page 03 Commissions and Fees & Result from Insurance 17 Result from Insurance, Pension Plan and Premium Bonds 19 Non-interest Expenses 20 Balance Sheet 22 Credit Portfolio 23 Funding 25 Capital, Liquidity and Market Ratios 26 Results by Business Segments 27 Results by Region - Brazil and Latin America 29 Activities Abroad 30 Additional Information 32 Itaú Unibanco Shares 33 Glossary 34 Report of Independent Auditors 36 Complete Financial Statements Page 37 Contents Executive Summary 03 Management Income Statement and Balance Sheet Analysis 11 Discussion & Managerial Financial Margin 12 Analysis Cost of Credit 13 Credit Quality 15 Page 03 Commissions and Fees & Result from Insurance 17 Result from Insurance, Pension Plan and Premium Bonds 19 Non-interest Expenses 20 Balance Sheet 22 Credit Portfolio 23 Funding 25 Capital, Liquidity and Market Ratios 26 Results by Business Segments 27 Results by Region - Brazil and Latin America 29 Activities Abroad 30 Additional Information 32 Itaú Unibanco Shares 33 Glossary 34 Report of Independent Auditors 36 Complete Financial Statements Page 37

Management Discussion & Analysis Management Discussion & Analysis and Complete Financial Statements Management Discussion & Analysis Management Discussion & Analysis and Complete Financial Statements

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Executive Summary Management Discussion & Analysis Managerial Income Summary We present below the financial indicators of Itaú Unibanco determined at the end of the period. In R$ millions (except where indicated), end of period 3Q19 2Q19 3Q18 9M19 9M18 7,156 7,034 6,454 21,067 19,255 Recurring Net Income (1) 30,257 29,492 27,899 87,957 83,345 Operating Revenues (2) Managerial Financial Margin 19,071 18,451 17,408 55,191 51,702 (3) Recurring Return on Average Equity – Annualized - Consolidated 23.5% 23.5% 21.3% 23.5% 21.7% (3) Recurring Return on Average Equity – Annualized - Brazil 24.6% 24.6% 22.4% 24.7% 22.9% (4) Recurring Return on Average Assets – Annualized 1.7% 1.7% 1.6% 1.7% 1.7% Nonperforming Loans Ratio (90 days overdue) - Total 2.9% 2.9% 2.9% 2.9% 2.9% Nonperforming Loans Ratio (90 days overdue) - Brazil 3.4% 3.5% 3.5% 3.4% 3.5% Nonperforming Loans Ratio (90 days overdue) - Latin America 1.4% 1.4% 1.3% 1.4% 1.3% (5) Coverage Ratio (Total Allowance/NPL 90 days overdue) 208% 208% 235% 208% 235% (6) Efficiency Ratio (IE) 45.5% 46.2% 48.8% 46.0% 47.3% (6) Risk-Adjusted Efficiency Ratio (RAER) 61.4% 60.9% 61.3% 61.1% 61.0% (7,8) 0.73 0.72 0.66 Recurring Net Income per Share (R$) (7,8) Net Income per Share (R$) 0.57 0.70 0.64 (8) 9,744 9,743 9,714 Number of Outstanding Shares at the end of period – in millions (8) Book Value per Share (R$) 12.90 12.91 12.87 (9) 2,505 6,136 2,259 Dividends and Interest on Own Capital net of Taxes (10) 342,963 354,265 284,295 Market Capitalization (10) 82,356 92,444 71,004 Market Capitalization (US$ million) 1,738,339 1,678,378 1,613,162 Total Assets Total Credit Portfolio, including Financial Guarantees Provided and Corporate Securities 688,993 659,727 636,428 (11) 736,750 699,455 Deposits + Debentures + Securities + Borrowings and Onlending 696,938 (11) Loan Portfolio/Funding 78.2% 79.0% 76.1% 125,719 125,737 125,035 Stockholders' Equity Solvency Ratio - Prudential Conglomerate (BIS Ratio) 15.4% 16.3% 16.9% (12) Tier I Capital - BIS III 14.1% 14.9% 14.8% (12) Common Equity Tier I - BIS III 12.8% 13.6% 13.8% Liquidity Coverage Ratio (LCR) 151.9% 167.2% 170.9% (13) Net Stable Funding Ratio (NSFR) 117.5% 121.1% - 1,316,634 1,200,283 1,093,487 Assets Under Administration 96,764 98,446 100,756 Total Number of Employees 83,536 85,161 87,070 Brazil Abroad 13,228 13,285 13,686 4,704 4,722 4,917 Branches and CSBs – Client Service Branches (14) ATM – Automated Teller Machines 47,518 47,505 47,887 Note: (1) Operating Revenues are the sum of Managerial Financial Margin, Commissions and Fees and Revenues from Insurance, Pension Plan and Premium Bonds Operations before Retained Claims and Selling Expenses; (2) Detailed in Managerial Financial Margin section; (3) Annualized Return was calculated by dividing Recurring Net Income by Average Stockholders’ Equity. The quotient was multiplied by the number of periods in the year to derive the annualized rate. The calculation bases of returns were adjusted by the amount of dividends that has not yet been approved at shareholders’ or Board meetings, proposed after the balance sheet closing date; (4) The return was calculated by dividing Recurring Net Income by Average Assets; (5) Includes the balance of allowance for financial guarantees provided; (6) For further details on the calculation methodologies of both Efficiency and Risk- Adjusted Efficiency ratios, please refer to the Glossary section; (7) Calculated based on the weighted average number of outstanding shares for the period; (8) Considers the 50% stock split occurred in November 2018. For comparison the number of shares in 3Q18 was recalculated and prior to the split the amount was 6,476 million; (9) Interest on own capital. Amounts paid/provisioned, declared and reserved in stockholders’ equity; (10) Total number of outstanding shares (common and non-voting shares) multiplied by the average price of the non- voting share on the last trading day in the period; (11) As detailed in the Balance Sheet section; (12) For periods prior to 2019, considers the immediate and full application of the Basel III rules and, in 3Q18, considers the pro forma impact of the acquisition of investment in XP (-90 bps); (13) We began to disclose the NSFR in 4Q18. For further details, please refer to the Capital, Liquidity and Market Ratios section; (14) Includes ESBs (electronic service branches) and service points at third-party locations and Banco24Horas ATMs. Itaú Unibanco Holding S.A. 05 Other Balance Sheet Shares Performance ResultsExecutive Summary Management Discussion & Analysis Managerial Income Summary We present below the financial indicators of Itaú Unibanco determined at the end of the period. In R$ millions (except where indicated), end of period 3Q19 2Q19 3Q18 9M19 9M18 7,156 7,034 6,454 21,067 19,255 Recurring Net Income (1) 30,257 29,492 27,899 87,957 83,345 Operating Revenues (2) Managerial Financial Margin 19,071 18,451 17,408 55,191 51,702 (3) Recurring Return on Average Equity – Annualized - Consolidated 23.5% 23.5% 21.3% 23.5% 21.7% (3) Recurring Return on Average Equity – Annualized - Brazil 24.6% 24.6% 22.4% 24.7% 22.9% (4) Recurring Return on Average Assets – Annualized 1.7% 1.7% 1.6% 1.7% 1.7% Nonperforming Loans Ratio (90 days overdue) - Total 2.9% 2.9% 2.9% 2.9% 2.9% Nonperforming Loans Ratio (90 days overdue) - Brazil 3.4% 3.5% 3.5% 3.4% 3.5% Nonperforming Loans Ratio (90 days overdue) - Latin America 1.4% 1.4% 1.3% 1.4% 1.3% (5) Coverage Ratio (Total Allowance/NPL 90 days overdue) 208% 208% 235% 208% 235% (6) Efficiency Ratio (IE) 45.5% 46.2% 48.8% 46.0% 47.3% (6) Risk-Adjusted Efficiency Ratio (RAER) 61.4% 60.9% 61.3% 61.1% 61.0% (7,8) 0.73 0.72 0.66 Recurring Net Income per Share (R$) (7,8) Net Income per Share (R$) 0.57 0.70 0.64 (8) 9,744 9,743 9,714 Number of Outstanding Shares at the end of period – in millions (8) Book Value per Share (R$) 12.90 12.91 12.87 (9) 2,505 6,136 2,259 Dividends and Interest on Own Capital net of Taxes (10) 342,963 354,265 284,295 Market Capitalization (10) 82,356 92,444 71,004 Market Capitalization (US$ million) 1,738,339 1,678,378 1,613,162 Total Assets Total Credit Portfolio, including Financial Guarantees Provided and Corporate Securities 688,993 659,727 636,428 (11) 736,750 699,455 Deposits + Debentures + Securities + Borrowings and Onlending 696,938 (11) Loan Portfolio/Funding 78.2% 79.0% 76.1% 125,719 125,737 125,035 Stockholders' Equity Solvency Ratio - Prudential Conglomerate (BIS Ratio) 15.4% 16.3% 16.9% (12) Tier I Capital - BIS III 14.1% 14.9% 14.8% (12) Common Equity Tier I - BIS III 12.8% 13.6% 13.8% Liquidity Coverage Ratio (LCR) 151.9% 167.2% 170.9% (13) Net Stable Funding Ratio (NSFR) 117.5% 121.1% - 1,316,634 1,200,283 1,093,487 Assets Under Administration 96,764 98,446 100,756 Total Number of Employees 83,536 85,161 87,070 Brazil Abroad 13,228 13,285 13,686 4,704 4,722 4,917 Branches and CSBs – Client Service Branches (14) ATM – Automated Teller Machines 47,518 47,505 47,887 Note: (1) Operating Revenues are the sum of Managerial Financial Margin, Commissions and Fees and Revenues from Insurance, Pension Plan and Premium Bonds Operations before Retained Claims and Selling Expenses; (2) Detailed in Managerial Financial Margin section; (3) Annualized Return was calculated by dividing Recurring Net Income by Average Stockholders’ Equity. The quotient was multiplied by the number of periods in the year to derive the annualized rate. The calculation bases of returns were adjusted by the amount of dividends that has not yet been approved at shareholders’ or Board meetings, proposed after the balance sheet closing date; (4) The return was calculated by dividing Recurring Net Income by Average Assets; (5) Includes the balance of allowance for financial guarantees provided; (6) For further details on the calculation methodologies of both Efficiency and Risk- Adjusted Efficiency ratios, please refer to the Glossary section; (7) Calculated based on the weighted average number of outstanding shares for the period; (8) Considers the 50% stock split occurred in November 2018. For comparison the number of shares in 3Q18 was recalculated and prior to the split the amount was 6,476 million; (9) Interest on own capital. Amounts paid/provisioned, declared and reserved in stockholders’ equity; (10) Total number of outstanding shares (common and non-voting shares) multiplied by the average price of the non- voting share on the last trading day in the period; (11) As detailed in the Balance Sheet section; (12) For periods prior to 2019, considers the immediate and full application of the Basel III rules and, in 3Q18, considers the pro forma impact of the acquisition of investment in XP (-90 bps); (13) We began to disclose the NSFR in 4Q18. For further details, please refer to the Capital, Liquidity and Market Ratios section; (14) Includes ESBs (electronic service branches) and service points at third-party locations and Banco24Horas ATMs. Itaú Unibanco Holding S.A. 05 Other Balance Sheet Shares Performance Results

Executive Summary Management Discussion & Analysis Managerial Income Statement In this report, besides the adjustment of non-recurring events, we apply managerial criteria to present our income statement. In relation to the accounting statement, these criteria affect the breakdown of our income statement but not the net income. Among the managerial adjustments, we highlight the tax effects of the hedge of investments abroad - originally included in tax expenses (PIS and COFINS) and income tax and social contribution on net income, which are reclassified to the financial margin. These reclassifications enable us to carry out business analyses from the management point of view and are shown in the table below. In relation to the hedge of investments abroad, our strategy for foreign exchange risk management is aimed at mitigating, through financial instruments, the effects of foreign exchange variations and includes the impact of all tax effects. rd Accounting and Managerial Financial Statements Reconciliation | 3 quarter of 2019 Non-recurring Tax Effect Managerial Accounting Managerial Events of Hedge Reclassifications In R$ millions Operating Revenues 27,017 - 3,279 (38) 30,257 Managerial Financial Margin 14,851 - 3,279 942 19,071 Financial Margin with Clients 16,679 - - 942 17,621 Financial Margin with the Market (1,828) - 3,279 - 1,450 Commissions and Fees 10,136 - - (869) 9,267 Revenues from Insurance, Pension Plan and Premium Bonds 1,249 - - 670 1,920 Operations Before Retained Claims and Selling Expenses Other Operating Income 385 - - (385) - Equity in Earnings of Affiliates and Other Investments 332 - - (332) - Non-operating Income 63 - - (63) - Cost of Credit (3,929) - - (566) (4,495) Provision for Loan Losses (5,535) - - 613 (4,922) Impairment - - - (70) (70) Discounts Granted - - - (300) (300) Recovery of Loans Written Off as Losses 1,606 - - (809) 796 Retained Claims (338) - - - (338) Other Operating Expenses (17,534) 2,694 (349) 616 (14,573) Non-interest Expenses (16,097) 2,694 - 607 (12,796) Tax Expenses for ISS, PIS, Cofins and Other Taxes (1,431) - (349) 9 (1,771) Insurance Selling Expenses (6) - - - (6) Income before Tax and Profit Sharing 5,215 2,694 2,930 12 10,851 Income Tax and Social Contribution 525 (1,006) (2,930) ( 105) (3,516) Profit Sharing Management Members - Statutory (93) - - 93 - Minority Interests (71) (107) - - (179) Net Income 5,576 1,580 - - 7,156 Non-Recurring Events Net of Tax Effects In R$ millions 3Q19 2Q19 3Q18 9M19 9M18 Net Income 5,576 6,815 6,247 19,101 18,772 (1,580) (219) (207) (1,966) (484) (-) Non-Recurring Events (1,431) - - (1,431) - Voluntary Severance Program ∟ Effect from the voluntary severance program (149) (151) (206) (467) (502) Goodwill Amortization ∟ Effect from the amortization of goodwill generated by acquisitions made by the conglomerate - (68) - (68) 29 Liability Adequacy Test ∟ Adjustment of technical provisions as a result of the liability adequacy test - - (1) - (102) Impairment ∟ Adjustment to reflect the realization value of certain assets mainly related to technology - - - - 97 Contingencies Provision ∟ Provisions for tax and social security lawsuits and losses from economic plans in effect in Brazil during the 1980's and early 1990's - - - - (5) Tax Contingencies and Legal Liabilities ∟ Mainly effects of our adherence to the program for the settlement or installment payment of federal, state and municipal taxes Recurring Net Income 7,156 7,034 6,454 21,067 19,255 Itaú Unibanco Holding S.A. 06 Executive Summary Management Discussion & Analysis Managerial Income Statement In this report, besides the adjustment of non-recurring events, we apply managerial criteria to present our income statement. In relation to the accounting statement, these criteria affect the breakdown of our income statement but not the net income. Among the managerial adjustments, we highlight the tax effects of the hedge of investments abroad - originally included in tax expenses (PIS and COFINS) and income tax and social contribution on net income, which are reclassified to the financial margin. These reclassifications enable us to carry out business analyses from the management point of view and are shown in the table below. In relation to the hedge of investments abroad, our strategy for foreign exchange risk management is aimed at mitigating, through financial instruments, the effects of foreign exchange variations and includes the impact of all tax effects. rd Accounting and Managerial Financial Statements Reconciliation | 3 quarter of 2019 Non-recurring Tax Effect Managerial Accounting Managerial Events of Hedge Reclassifications In R$ millions Operating Revenues 27,017 - 3,279 (38) 30,257 Managerial Financial Margin 14,851 - 3,279 942 19,071 Financial Margin with Clients 16,679 - - 942 17,621 Financial Margin with the Market (1,828) - 3,279 - 1,450 Commissions and Fees 10,136 - - (869) 9,267 Revenues from Insurance, Pension Plan and Premium Bonds 1,249 - - 670 1,920 Operations Before Retained Claims and Selling Expenses Other Operating Income 385 - - (385) - Equity in Earnings of Affiliates and Other Investments 332 - - (332) - Non-operating Income 63 - - (63) - Cost of Credit (3,929) - - (566) (4,495) Provision for Loan Losses (5,535) - - 613 (4,922) Impairment - - - (70) (70) Discounts Granted - - - (300) (300) Recovery of Loans Written Off as Losses 1,606 - - (809) 796 Retained Claims (338) - - - (338) Other Operating Expenses (17,534) 2,694 (349) 616 (14,573) Non-interest Expenses (16,097) 2,694 - 607 (12,796) Tax Expenses for ISS, PIS, Cofins and Other Taxes (1,431) - (349) 9 (1,771) Insurance Selling Expenses (6) - - - (6) Income before Tax and Profit Sharing 5,215 2,694 2,930 12 10,851 Income Tax and Social Contribution 525 (1,006) (2,930) ( 105) (3,516) Profit Sharing Management Members - Statutory (93) - - 93 - Minority Interests (71) (107) - - (179) Net Income 5,576 1,580 - - 7,156 Non-Recurring Events Net of Tax Effects In R$ millions 3Q19 2Q19 3Q18 9M19 9M18 Net Income 5,576 6,815 6,247 19,101 18,772 (1,580) (219) (207) (1,966) (484) (-) Non-Recurring Events (1,431) - - (1,431) - Voluntary Severance Program ∟ Effect from the voluntary severance program (149) (151) (206) (467) (502) Goodwill Amortization ∟ Effect from the amortization of goodwill generated by acquisitions made by the conglomerate - (68) - (68) 29 Liability Adequacy Test ∟ Adjustment of technical provisions as a result of the liability adequacy test - - (1) - (102) Impairment ∟ Adjustment to reflect the realization value of certain assets mainly related to technology - - - - 97 Contingencies Provision ∟ Provisions for tax and social security lawsuits and losses from economic plans in effect in Brazil during the 1980's and early 1990's - - - - (5) Tax Contingencies and Legal Liabilities ∟ Mainly effects of our adherence to the program for the settlement or installment payment of federal, state and municipal taxes Recurring Net Income 7,156 7,034 6,454 21,067 19,255 Itaú Unibanco Holding S.A. 06

Executive Summary Management Discussion & Analysis rd 3 quarter of 2019 Income Statement In R$ millions 3Q19 2Q19 3QD' 18 D' 9M19 9M18 D' Operating Revenues 30,257 29,492 2.6% 27,899 8.5% 87,957 83,345 5.5% Managerial Financial Margin 19,071 18,451 3.4% 17,408 9.6% 55,191 51,702 6.7% Financial Margin with Clients 17,621 16,879 4.4% 16,152 9.1% 50,924 47,366 7.5% Financial Margin with the Market 1,450 1,572 -7.8% 1 ,257 15.4% 4,266 4,337 -1.6% Commissions and Fees 9,267 9,063 2.2% 8 ,632 7.3% 26,951 25,887 4.1% Revenues from Insurance, Pension Plan and Premium Bonds 1,920 1,978 -3.0% 1 ,858 3.3% 5,815 5,756 1.0% Operations Before Retained Claims and Selling Expenses Cost of Credit (4,495) (4,044) 11.1% ( 3,263) 37.8% (12,343) (10,651) 15.9% Provision for Loan Losses (4,922) (4,407) 11.7% (3,904) 26.1% (13,535) (12,287) 10.2% Impairment (70) (43) 63.1% (89) -21.4% (142) (277) -48.7% Discounts Granted (300) (390) -23.1% ( 285) 5.3% (998) (842) 18.5% Recovery of Loans Written Off as Losses 7 96 7 95 0.1% 1 ,015 -21.6% 2,332 2,755 -15.4% Retained Claims (338) (297) 13.9% ( 320) 5.9% (935) (934) 0.1% Other Operating Expenses ( 14,573) (14,432) 1.0% (14,286) 2.0% (42,847) (41,602) 3.0% Non-interest Expenses (12,796) (12,669) 1.0% (12,646) 1.2% (37,615) (36,583) 2.8% Tax Expenses for ISS, PIS, Cofins and Other Taxes (1,771) (1,758) 0.7% (1,622) 9.2% ( 5,209) (4,964) 4.9% Insurance Selling Expenses (6) (6) 6.7% (18) -67.3% ( 23) (55) -57.6% Income before Tax and Minority Interests 10,851 10,718 1.2% 10,031 8.2% 31,832 30,158 5.6% Income Tax and Social Contribution (3,516) (3,408) 3.2% ( 3,422) 2.7% (10,112) (10,379) -2.6% Minority Interests in Subsidiaries (179) (277) -35.4% ( 155) 15.2% (653) (524) 24.7% Recurring Net Income 7 ,156 7,034 1.7% 6,454 10.9% 21,067 19,255 9.4% Performance: Recurring Net Income Recurring net income reached R$7.2 billion in the third quarter of 2019, a 1.7% increase from the previous quarter. Recurring return on average equity remained stable at 23.5%. We highlight the higher loan growth rate in the individuals and in the very small, small R$7.2 billion in 3Q19 and middle-market companies portfolios, as well as the resumption of the growth of the corporate loan portfolio after four quarters. This growth in the loan portfolio boosted R$ millions the R$742 million increase in the financial margin with clients. In the same period, + 1.7% commissions and fees were up 2.2%, mainly due to revenues from fund management, +10.9% + 9.4% investment banking and brokerage services. Our continuous effort in efficiency enabled an increase of 1.0% in non-interest expenses in the quarter despite of the salary 21,067 adjustment of 4.3% as a result of by the collective wage agreement. 19,255 7,034 7,156 6,454 Recurring net income increased 9.4% in the first nine months of 2019. Financial margin with clients increased 7.5% mainly due to the growth in the loan portfolios for 3Q18 2Q19 3Q19 individuals and for very small, small and middle-market companies. Commissions and 9M18 9M19 fees were up 4.1% due to the increase in revenues from credit card issuing activities, fund management, investment banking and brokerage services. These increases were partially offset by the 15.9% increase in cost of credit, driven by the higher credit origination. Non-interest expenses grew 2.8%, despite the inflation rate of 2.9% in the period and the impact of the collective wage agreement. Itaú Unibanco Holding S.A. 07 Executive Summary Management Discussion & Analysis rd 3 quarter of 2019 Income Statement In R$ millions 3Q19 2Q19 3QD' 18 D' 9M19 9M18 D' Operating Revenues 30,257 29,492 2.6% 27,899 8.5% 87,957 83,345 5.5% Managerial Financial Margin 19,071 18,451 3.4% 17,408 9.6% 55,191 51,702 6.7% Financial Margin with Clients 17,621 16,879 4.4% 16,152 9.1% 50,924 47,366 7.5% Financial Margin with the Market 1,450 1,572 -7.8% 1 ,257 15.4% 4,266 4,337 -1.6% Commissions and Fees 9,267 9,063 2.2% 8 ,632 7.3% 26,951 25,887 4.1% Revenues from Insurance, Pension Plan and Premium Bonds 1,920 1,978 -3.0% 1 ,858 3.3% 5,815 5,756 1.0% Operations Before Retained Claims and Selling Expenses Cost of Credit (4,495) (4,044) 11.1% ( 3,263) 37.8% (12,343) (10,651) 15.9% Provision for Loan Losses (4,922) (4,407) 11.7% (3,904) 26.1% (13,535) (12,287) 10.2% Impairment (70) (43) 63.1% (89) -21.4% (142) (277) -48.7% Discounts Granted (300) (390) -23.1% ( 285) 5.3% (998) (842) 18.5% Recovery of Loans Written Off as Losses 7 96 7 95 0.1% 1 ,015 -21.6% 2,332 2,755 -15.4% Retained Claims (338) (297) 13.9% ( 320) 5.9% (935) (934) 0.1% Other Operating Expenses ( 14,573) (14,432) 1.0% (14,286) 2.0% (42,847) (41,602) 3.0% Non-interest Expenses (12,796) (12,669) 1.0% (12,646) 1.2% (37,615) (36,583) 2.8% Tax Expenses for ISS, PIS, Cofins and Other Taxes (1,771) (1,758) 0.7% (1,622) 9.2% ( 5,209) (4,964) 4.9% Insurance Selling Expenses (6) (6) 6.7% (18) -67.3% ( 23) (55) -57.6% Income before Tax and Minority Interests 10,851 10,718 1.2% 10,031 8.2% 31,832 30,158 5.6% Income Tax and Social Contribution (3,516) (3,408) 3.2% ( 3,422) 2.7% (10,112) (10,379) -2.6% Minority Interests in Subsidiaries (179) (277) -35.4% ( 155) 15.2% (653) (524) 24.7% Recurring Net Income 7 ,156 7,034 1.7% 6,454 10.9% 21,067 19,255 9.4% Performance: Recurring Net Income Recurring net income reached R$7.2 billion in the third quarter of 2019, a 1.7% increase from the previous quarter. Recurring return on average equity remained stable at 23.5%. We highlight the higher loan growth rate in the individuals and in the very small, small R$7.2 billion in 3Q19 and middle-market companies portfolios, as well as the resumption of the growth of the corporate loan portfolio after four quarters. This growth in the loan portfolio boosted R$ millions the R$742 million increase in the financial margin with clients. In the same period, + 1.7% commissions and fees were up 2.2%, mainly due to revenues from fund management, +10.9% + 9.4% investment banking and brokerage services. Our continuous effort in efficiency enabled an increase of 1.0% in non-interest expenses in the quarter despite of the salary 21,067 adjustment of 4.3% as a result of by the collective wage agreement. 19,255 7,034 7,156 6,454 Recurring net income increased 9.4% in the first nine months of 2019. Financial margin with clients increased 7.5% mainly due to the growth in the loan portfolios for 3Q18 2Q19 3Q19 individuals and for very small, small and middle-market companies. Commissions and 9M18 9M19 fees were up 4.1% due to the increase in revenues from credit card issuing activities, fund management, investment banking and brokerage services. These increases were partially offset by the 15.9% increase in cost of credit, driven by the higher credit origination. Non-interest expenses grew 2.8%, despite the inflation rate of 2.9% in the period and the impact of the collective wage agreement. Itaú Unibanco Holding S.A. 07

Executive Summary Management Discussion & Analysis Highlights in 3Q19 Commissions, Fees and Result from Financial Margin with Clients Cost of Credit 1 Insurance R$17.6 billion R$4.5 billion R$10.8 billion R$ millions R$ millions R$ millions + 4.4% + 7.5% + 11.1% + 15.9% + 1.0% + 3.8% 47,366 50,924 30,654 31,808 12,343 + 9.1% + 37.8% + 6.8% 10,651 998 842 142 16,879 17,621 4,495 10,738 10,842 16,152 277 10,153 4,044 26,951 25,887 3,263 300 390 70 285 11,203 43 9,532 9,063 9,267 89 8,632 4,126 3,612 2,889 4,767 4,857 1,521 1,675 1,575 9M18 9M19 3Q18 2Q19 3Q19 9M18 9M19 9M18 9M19 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 Discounts Granted Commissions and Fees Result from Insurance¹ Impairment Provision for Loan Losses Net of Recovery of Loans Cost of Credit The 4.4% increase in the quarter was a result of The increase of 11.1% in the quarter is related to The growth of 1.0% in the quarter was mainly the change in the mix of products and of the the increase in provision for loan losses in the driven by higher revenues from fund management increase in the loan portfolios for individuals and Retail Banking in Brazil and to lower reversals in fees, investment banking and brokerage services.   for very small, small and middle-market the Wholesale Banking in Brazil. This increase in companies in Brazil. provision for loan losses in the Retail Banking is In the first nine months of 2019, the increase was mainly driven by the increase in loans for 3.8%. We highlight higher revenues from: (i) credit These same loan portfolios also increased in the individuals in the period. card issuing activities; (ii) fund management, first nine months of 2019 and were partially driven by the increase in balance of assets under offset by lower spreads in loan operations and by The 15.9% increase in cost of credit in the first administration; and (iii) investment banking and the impact of the reduction of interest rates on nine months of 2019 is in line with the increase brokerage services driven by the higher capital our own working capital. This combination in credit origination and in the loan portfolio for markets activity. These effects were partially offset resulted in a 7.5% higher margin with clients in individuals in Brazil. by the lower revenues from acquiring services. the period. Further details on page 12 Further details on page 13 Further details on pages 17-18 Non-Interest Expenses Return on Equity 23.5% R$12.8 billion R$ millions 24.8% 24.6% 24.6% 22.4% 22.7% + 1.0 % + 2.8 % 23.6% 23.5% 23.5% + 1.2 % 21.8% 21.3% 3.2% 3.0% 37,615 36,583 3.0% 3.0% 3.2% 12,796 12,646 12,669 3Q18 4Q18 1Q19 2Q19 3Q19 Annualized Recurring Return on Average Equity (quarterly) - Consolidated 3Q18 2Q19 3Q19 9M18 9M19 Non-Interest Expenses (R$ million) Annualized Recurring Return on Average Equity (quarterly) - Brazil Non-Interest Expenses / Average Assets (Annualized) The growth of 1.0% in the quarter was driven by Efficiency Ratio (E.R.) and Risk-Adjusted Efficiency Ratio (R.A.E.R.) higher personnel expenses resulting from the impact of the collective wage agreement and by higher operating expenses. These effects were partially offset by lower administrative expenses, 62.2 61.2 61.2 61.2 61.2 mainly related to facilities and advertising.  47.7 47.6 47.7 47.5 46.6 In the first nine months of 2019, non-interest expenses grew 2.8%, despite the 2.9% inflation rate in the period and the impact of the collective wage agreement. 3Q18 4Q18 1Q19 2Q19 3Q19 Trailing 12-month Efficiency Ratio (%) Trailing 12-month Risk-Adjusted Efficiency Ratio (%) Further details on pages 20-21 Further details on page 21 ¹ Result from insurance operations includes the revenues from insurance, pension plan and premium bonds, net of retained claims and selling expenses. 08 Itaú Unibanco Holding S.A. Executive Summary Management Discussion & Analysis Highlights in 3Q19 Commissions, Fees and Result from Financial Margin with Clients Cost of Credit 1 Insurance R$17.6 billion R$4.5 billion R$10.8 billion R$ millions R$ millions R$ millions + 4.4% + 7.5% + 11.1% + 15.9% + 1.0% + 3.8% 47,366 50,924 30,654 31,808 12,343 + 9.1% + 37.8% + 6.8% 10,651 998 842 142 16,879 17,621 4,495 10,738 10,842 16,152 277 10,153 4,044 26,951 25,887 3,263 300 390 70 285 11,203 43 9,532 9,063 9,267 89 8,632 4,126 3,612 2,889 4,767 4,857 1,521 1,675 1,575 9M18 9M19 3Q18 2Q19 3Q19 9M18 9M19 9M18 9M19 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 Discounts Granted Commissions and Fees Result from Insurance¹ Impairment Provision for Loan Losses Net of Recovery of Loans Cost of Credit The 4.4% increase in the quarter was a result of The increase of 11.1% in the quarter is related to The growth of 1.0% in the quarter was mainly the change in the mix of products and of the the increase in provision for loan losses in the driven by higher revenues from fund management increase in the loan portfolios for individuals and Retail Banking in Brazil and to lower reversals in fees, investment banking and brokerage services. for very small, small and middle-market the Wholesale Banking in Brazil. This increase in companies in Brazil. provision for loan losses in the Retail Banking is In the first nine months of 2019, the increase was mainly driven by the increase in loans for 3.8%. We highlight higher revenues from: (i) credit These same loan portfolios also increased in the individuals in the period. card issuing activities; (ii) fund management, first nine months of 2019 and were partially driven by the increase in balance of assets under offset by lower spreads in loan operations and by The 15.9% increase in cost of credit in the first administration; and (iii) investment banking and the impact of the reduction of interest rates on nine months of 2019 is in line with the increase brokerage services driven by the higher capital our own working capital. This combination in credit origination and in the loan portfolio for markets activity. These effects were partially offset resulted in a 7.5% higher margin with clients in individuals in Brazil. by the lower revenues from acquiring services. the period. Further details on page 12 Further details on page 13 Further details on pages 17-18 Non-Interest Expenses Return on Equity 23.5% R$12.8 billion R$ millions 24.8% 24.6% 24.6% 22.4% 22.7% + 1.0 % + 2.8 % 23.6% 23.5% 23.5% + 1.2 % 21.8% 21.3% 3.2% 3.0% 37,615 36,583 3.0% 3.0% 3.2% 12,796 12,646 12,669 3Q18 4Q18 1Q19 2Q19 3Q19 Annualized Recurring Return on Average Equity (quarterly) - Consolidated 3Q18 2Q19 3Q19 9M18 9M19 Non-Interest Expenses (R$ million) Annualized Recurring Return on Average Equity (quarterly) - Brazil Non-Interest Expenses / Average Assets (Annualized) The growth of 1.0% in the quarter was driven by Efficiency Ratio (E.R.) and Risk-Adjusted Efficiency Ratio (R.A.E.R.) higher personnel expenses resulting from the impact of the collective wage agreement and by higher operating expenses. These effects were partially offset by lower administrative expenses, 62.2 61.2 61.2 61.2 61.2 mainly related to facilities and advertising. 47.7 47.6 47.7 47.5 46.6 In the first nine months of 2019, non-interest expenses grew 2.8%, despite the 2.9% inflation rate in the period and the impact of the collective wage agreement. 3Q18 4Q18 1Q19 2Q19 3Q19 Trailing 12-month Efficiency Ratio (%) Trailing 12-month Risk-Adjusted Efficiency Ratio (%) Further details on pages 20-21 Further details on page 21 ¹ Result from insurance operations includes the revenues from insurance, pension plan and premium bonds, net of retained claims and selling expenses. 08 Itaú Unibanco Holding S.A.

Executive Summary Management Discussion & Analysis Highlights in 3Q19 Credit Portfolio with Financial Guarantees Provided and Corporate Securities In R$ billions, end of period 3Q19 2Q19 D' 3Q18D' Individuals 229.7 222.3 3.3% 200.0 14.9% Credit Card Loans 83.3 79.3 5.1% 68.7 21.4% Personal Loans 34.2 32.8 4.5% 28.9 18.5% 1 Payroll Loans 49.3 49.1 0.5% 46.0 7.4% Vehicle Loans 18.0 17.2 4.5% 15.2 18.0% Mortgage Loans 44.8 44.0 2.0% 41.2 8.7% 2 84.0 78.1 7.6% 67.5 24.5% Very Small, Small and Middle Market Loans Individuals + Very Small, Small and Middle Market Loans 313.8 300.4 4.5% 267.5 17.3% Companies 204.2 1 93.6 5.5% 196.3 4.1% Corporate Loans 157.0 151.4 3.7% 159.9 -1.9% 3 47.3 42.2 12.1% 36.3 30.1% Corporate Securities Total Brazil with Financial Guarantees Provided and Corporate 518.0 494.0 4.9% 463.7 11.7% 171.0 165.7 3.2% 172.7 -1.0% Latin America Argentina 8.8 9.7 -9.0% 9.8 -10.1% Chile 115.6 110.7 4.4% 113.3 2.0% Colombia 27.4 27.6 -1.0% 30.8 -11.0% Paraguay 7.9 7.4 6.3% 8.2 -3.4% Panama 1.6 1.3 21.6% 1.3 21.3% Uruguay 9.7 8.9 8.7% 9.3 4.5% 689.0 6 59.7 4.4% 636.4 8.3% Total with Financial Guarantees Provided and Corporate Securities Total with Financial Guarantees Provided and Corporate Securities 689.0 667.9 3.2% 625.5 10.1% 4 (ex-foreign exchange rate variation) (1) Includes operations originated by the institution and acquired operations. (2) Includes Rural Loans to Individuals. (3) Includes Debentures, Certificates of Real Estate Receivables (CRI) and Commercial Paper. (4) Calculated based on the conversion of the foreign currency portfolio (U.S. dollar and Latin American currencies). Note: the Mortgage and Rural Loan portfolios from the companies segment are allocated according to the client’s size. Further details on pages 23 and 24. NPL Ratio (%) | over 90 days Coverage Ratio | 90 days NPL Ratio (%) | 15 to 90 days stable vs. second quarter of 2019 stable vs. second quarter of 2019 - 20 bps vs. second quarter of 2019 2.3% 2.9% 208% stable vs. third quarter of 2018 - 2,700 bps vs. third quarter of 2018 - 30 bps vs. third quarter of 2018 3.1 3.1 248% 2.9 235% 2.8 221% 2.7 4.2 2.5 2.6 2.6 208% 208% 208% 2.6 3.7 3.7 3.7 2.5 2.5 3.5 3.5 3.5 3.4 2.7 3.4 2.3 2.5 2.6 2.7 2.3 2.7 2.4 3.4 2.4 2.3 2.5 3.1 3.1 2.3 2.5 3.0 2.2 2.8 2.9 2.9 2.9 2.9 2.3 2.4 1.6 95% 92% 1.5 1.5 90% 88% 1.3 1.4 1.4 1.4 1.4 87% 86% 1.2 Dec-16 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-16 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Total Brazil¹ Latin America² Total Brazil¹ Latin America² Total Total (Expanded³) Total NPL Ratio remained stable in the quarter. The consolidated coverage ratio remained The short-term delinquency ratio reached the The decrease in Brazil is due to the better credit stable in the quarter. The coverage ratio of the lowest level since the merger between Itaú and quality ratio of the companies segment. both for Wholesale Banking in Brazil increased due to the Unibanco, both for the consolidated and Brazil.   large and for very small, small and middle-market decrease in the NPL ratio over 90 days of the companies. segment. In Brazil, the short-term delinquency ratios of all portfolios decreased. The ratio for very small, Worth mentioning is the continued decrease in The greater relevance of the Retail Banking small and middle-market companies decreased the NPL ratio for very small, small and middle- portfolio, which has structurally lower coverage, for the second consecutive quarter and reached market companies in Brazil, which decreased for has offset the increase of the Wholesale Banking the lowest level since the merger between Itaú the 12th consecutive quarter and reached the coverage ratio. and Unibanco. lowest level since the merger between Itaú and Unibanco. Further details on pages 15-16 Further details on pages 15-16 Further details on pages 15-16 ¹ Includes units abroad ex-Latin America. ² Excludes Brazil. ³ Calculated by dividing the total allowance by the balance of operations more than 90 days overdue and renegotiated operations, excluding double counting of renegotiated operations more than 90 days overdue. Itaú Unibanco Holding S.A. 09 Executive Summary Management Discussion & Analysis Highlights in 3Q19 Credit Portfolio with Financial Guarantees Provided and Corporate Securities In R$ billions, end of period 3Q19 2Q19 D' 3Q18D' Individuals 229.7 222.3 3.3% 200.0 14.9% Credit Card Loans 83.3 79.3 5.1% 68.7 21.4% Personal Loans 34.2 32.8 4.5% 28.9 18.5% 1 Payroll Loans 49.3 49.1 0.5% 46.0 7.4% Vehicle Loans 18.0 17.2 4.5% 15.2 18.0% Mortgage Loans 44.8 44.0 2.0% 41.2 8.7% 2 84.0 78.1 7.6% 67.5 24.5% Very Small, Small and Middle Market Loans Individuals + Very Small, Small and Middle Market Loans 313.8 300.4 4.5% 267.5 17.3% Companies 204.2 1 93.6 5.5% 196.3 4.1% Corporate Loans 157.0 151.4 3.7% 159.9 -1.9% 3 47.3 42.2 12.1% 36.3 30.1% Corporate Securities Total Brazil with Financial Guarantees Provided and Corporate 518.0 494.0 4.9% 463.7 11.7% 171.0 165.7 3.2% 172.7 -1.0% Latin America Argentina 8.8 9.7 -9.0% 9.8 -10.1% Chile 115.6 110.7 4.4% 113.3 2.0% Colombia 27.4 27.6 -1.0% 30.8 -11.0% Paraguay 7.9 7.4 6.3% 8.2 -3.4% Panama 1.6 1.3 21.6% 1.3 21.3% Uruguay 9.7 8.9 8.7% 9.3 4.5% 689.0 6 59.7 4.4% 636.4 8.3% Total with Financial Guarantees Provided and Corporate Securities Total with Financial Guarantees Provided and Corporate Securities 689.0 667.9 3.2% 625.5 10.1% 4 (ex-foreign exchange rate variation) (1) Includes operations originated by the institution and acquired operations. (2) Includes Rural Loans to Individuals. (3) Includes Debentures, Certificates of Real Estate Receivables (CRI) and Commercial Paper. (4) Calculated based on the conversion of the foreign currency portfolio (U.S. dollar and Latin American currencies). Note: the Mortgage and Rural Loan portfolios from the companies segment are allocated according to the client’s size. Further details on pages 23 and 24. NPL Ratio (%) | over 90 days Coverage Ratio | 90 days NPL Ratio (%) | 15 to 90 days stable vs. second quarter of 2019 stable vs. second quarter of 2019 - 20 bps vs. second quarter of 2019 2.3% 2.9% 208% stable vs. third quarter of 2018 - 2,700 bps vs. third quarter of 2018 - 30 bps vs. third quarter of 2018 3.1 3.1 248% 2.9 235% 2.8 221% 2.7 4.2 2.5 2.6 2.6 208% 208% 208% 2.6 3.7 3.7 3.7 2.5 2.5 3.5 3.5 3.5 3.4 2.7 3.4 2.3 2.5 2.6 2.7 2.3 2.7 2.4 3.4 2.4 2.3 2.5 3.1 3.1 2.3 2.5 3.0 2.2 2.8 2.9 2.9 2.9 2.9 2.3 2.4 1.6 95% 92% 1.5 1.5 90% 88% 1.3 1.4 1.4 1.4 1.4 87% 86% 1.2 Dec-16 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-16 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Total Brazil¹ Latin America² Total Brazil¹ Latin America² Total Total (Expanded³) Total NPL Ratio remained stable in the quarter. The consolidated coverage ratio remained The short-term delinquency ratio reached the The decrease in Brazil is due to the better credit stable in the quarter. The coverage ratio of the lowest level since the merger between Itaú and quality ratio of the companies segment. both for Wholesale Banking in Brazil increased due to the Unibanco, both for the consolidated and Brazil. large and for very small, small and middle-market decrease in the NPL ratio over 90 days of the companies. segment. In Brazil, the short-term delinquency ratios of all portfolios decreased. The ratio for very small, Worth mentioning is the continued decrease in The greater relevance of the Retail Banking small and middle-market companies decreased the NPL ratio for very small, small and middle- portfolio, which has structurally lower coverage, for the second consecutive quarter and reached market companies in Brazil, which decreased for has offset the increase of the Wholesale Banking the lowest level since the merger between Itaú the 12th consecutive quarter and reached the coverage ratio. and Unibanco. lowest level since the merger between Itaú and Unibanco. Further details on pages 15-16 Further details on pages 15-16 Further details on pages 15-16 ¹ Includes units abroad ex-Latin America. ² Excludes Brazil. ³ Calculated by dividing the total allowance by the balance of operations more than 90 days overdue and renegotiated operations, excluding double counting of renegotiated operations more than 90 days overdue. Itaú Unibanco Holding S.A. 09

Executive Summary Management Discussion & Analysis 2019 Forecast We kept unchanged the ranges of our 2019 forecast. 1 Consolidated Brazil 8.0% Total Credit Portfolio2 11.0% 8.0% 11.0% Financial Margin with Clients 9.0% 12.0% 9.0% 12.0% Financial Margin with the Market R$ 4.6 bn R$ 5.6 bn R$ 3.6 bn R$ 4.6 bn Cost of Credit R$ 14.5 bn R$ 17.5 bn R$ 12.5 bn R$ 15.5 bn 3 Commissions and Fees and Results from 2.0% 5.0% 2.0% 5.0% 4 Insurance Operations 3.0% 6.0% Non-Interest Expenses 3.5% 6.5% 31.0% 33.0% Effective Tax Rate 32.0% 34.0% (1) Includes units abroad ex-Latin America; (2) Includes financial guarantees provided and corporate securities; (3) Includes Result from Loan Losses, Impairment and Discounts Granted; (4) Commissions and Fees (+) Revenues from Insurance, Pension Plan and Premium Bonds Operations (-) Expenses for Claims (-) Insurance, Pension Plan and Premium Bonds Selling Expenses. Although the growth plans and projections of results presented above are based on management assumptions and information available in the market to date, these expectations involve inaccuracies and risks that are difficult to anticipate and there may be, therefore, results or consequences that differ from those anticipated. This information is not a guarantee of future performance. The use of these expectations should take into consideration the risks and uncertainties that involve any activities and that are beyond our control. These risks and uncertainties include, but are not limited to, our ability to perceive the dimension of the synergies projected and their timing, political and economic changes, volatility in interest and foreign exchange rates, technological changes, inflation, financial disintermediation, competitive pressures on products, prices and changes in tax legislation, among others. Itaú Unibanco Holding S.A. 10 Executive Summary Management Discussion & Analysis 2019 Forecast We kept unchanged the ranges of our 2019 forecast. 1 Consolidated Brazil 8.0% Total Credit Portfolio2 11.0% 8.0% 11.0% Financial Margin with Clients 9.0% 12.0% 9.0% 12.0% Financial Margin with the Market R$ 4.6 bn R$ 5.6 bn R$ 3.6 bn R$ 4.6 bn Cost of Credit R$ 14.5 bn R$ 17.5 bn R$ 12.5 bn R$ 15.5 bn 3 Commissions and Fees and Results from 2.0% 5.0% 2.0% 5.0% 4 Insurance Operations 3.0% 6.0% Non-Interest Expenses 3.5% 6.5% 31.0% 33.0% Effective Tax Rate 32.0% 34.0% (1) Includes units abroad ex-Latin America; (2) Includes financial guarantees provided and corporate securities; (3) Includes Result from Loan Losses, Impairment and Discounts Granted; (4) Commissions and Fees (+) Revenues from Insurance, Pension Plan and Premium Bonds Operations (-) Expenses for Claims (-) Insurance, Pension Plan and Premium Bonds Selling Expenses. Although the growth plans and projections of results presented above are based on management assumptions and information available in the market to date, these expectations involve inaccuracies and risks that are difficult to anticipate and there may be, therefore, results or consequences that differ from those anticipated. This information is not a guarantee of future performance. The use of these expectations should take into consideration the risks and uncertainties that involve any activities and that are beyond our control. These risks and uncertainties include, but are not limited to, our ability to perceive the dimension of the synergies projected and their timing, political and economic changes, volatility in interest and foreign exchange rates, technological changes, inflation, financial disintermediation, competitive pressures on products, prices and changes in tax legislation, among others. Itaú Unibanco Holding S.A. 10

Income Statement and Balance Sheet Analysis Management Discussion & Analysis and   Complete Financial Statements Income Statement and Balance Sheet Analysis Management Discussion & Analysis and Complete Financial Statements

Management Discussion & Analysis Income Statement Analysis  Managerial Financial Margin Highlights · Financial margin with clients increased by 4.4% in the quarter, driven by higher average volume of assets, better mix of products and the positive effect of the higher number of calendar days, partially offset by the lower asset spreads. These effects led to an increase of R$759 million in the spread-sensitive operations. · The 7.8% decrease in the financial margin with the market in the quarter was driven by the impact of the drop in the interest rate on the overhedge of our investments abroad. 3Q19 2Q19 3Q18 9M19 9M18 R$ millions D D D Financial Margin with Clients 17,621 1 6,879 4.4% 16,152 9.1% 50,924 47,366 7.5% Financial Margin with the Market -7.8% 1,257 15.4% -1.6% 1,450 1,572 4,266 4,337 Total 18,451 3.4% 17,408 9.6% 51,702 6.7% 19,071 55,191 Financial Margin with Clients Change in the Financial Margin with Clients Breakdown R$ millions + R$759 million + 5.0% 1,540 17,621 16,879 (1,557) (102) 132 (56) 270 516 16,081 15,322 1 2 1 3 4 (1)  (2)  (1)  2Q19 Working Capital Spread-Sensitive Mix of products Average Asset Asset Spreads Higher number of Others Spread-Sensitive Working Capital 3Q19 and other 2Q19 Operations 2Q19 Portfolio and calendar days Operations 3Q19 and other 3Q19 Liabilities Margin (1) (2) Includes capital allocated to business areas (except treasury) and the corporation working capital. Includes Latin America (ex-Brazil) spread-sensitive operations and structured operations from the wholesale segment. 1 Working capital and other (- R$17 million): negative effect of the decrease in the interest rate on the remuneration of working capital. 2 Mix of products (+ R$270 million): continuous effect from the change in the mix of loan portfolio products and segments with higher spreads, such as consumer credit and very small, small and middle-market companies. 3 Average asset portfolio and liabilities margin (+ R$516 million): increase in all loan portfolios in the quarter. 4 Asset spreads ( - R$102 million): spread reduction in consumer credit for individuals. Annualized average rate of financial margin with clients 3Q19 2Q19 Average Financial Average Rate Average Financial Average Rate (1)  (1)  In R$ millions, end of period Balance Margin (p.a.) Balance Margin (p.a.) Financial Margin with Clients 720,994 17,621 10.0% 699,245 16,879 10.0% Spread-Sensitive Operations 624,203 16,081 10.6% 602,327 15,322 10.6% Working Capital and Other 96,791 1,540 6.4% 96,918 1,557 6.6% Cost of Credit (4,495) (4,044) Risk-Adjusted Financial Margin with Clients 720,994 13,126 7.4% 699,245 12,834 7.5% (1) Average daily balance. Consolidated  Brazil  12.2% 12.2% 12.0% 12.1% 12.1% 12.2% 12.0% 11.8% 10.0% 10.0% 10.0% 9.9% 9.9% 9.9% 9.8% 9.8% 9.6% 9.5% 9.2% 9.2% 9.2% 9.0% 9.0% 8.9% 7.7% 7.6% 7.6% 7.4% 7.6% 7.5% 7.4% 7.1% 7.5% 6.7% 6.4% 6.4% 6.4% 6.0% 6.4% 6.4% 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Financial margin with clients Risk-adjusted financial margin with clients CDI (annualized quarterly rate) Itaú Unibanco Holding S.A. 12 Management Discussion & Analysis Income Statement Analysis Managerial Financial Margin Highlights · Financial margin with clients increased by 4.4% in the quarter, driven by higher average volume of assets, better mix of products and the positive effect of the higher number of calendar days, partially offset by the lower asset spreads. These effects led to an increase of R$759 million in the spread-sensitive operations. · The 7.8% decrease in the financial margin with the market in the quarter was driven by the impact of the drop in the interest rate on the overhedge of our investments abroad. 3Q19 2Q19 3Q18 9M19 9M18 R$ millions D D D Financial Margin with Clients 17,621 1 6,879 4.4% 16,152 9.1% 50,924 47,366 7.5% Financial Margin with the Market -7.8% 1,257 15.4% -1.6% 1,450 1,572 4,266 4,337 Total 18,451 3.4% 17,408 9.6% 51,702 6.7% 19,071 55,191 Financial Margin with Clients Change in the Financial Margin with Clients Breakdown R$ millions + R$759 million + 5.0% 1,540 17,621 16,879 (1,557) (102) 132 (56) 270 516 16,081 15,322 1 2 1 3 4 (1) (2) (1) 2Q19 Working Capital Spread-Sensitive Mix of products Average Asset Asset Spreads Higher number of Others Spread-Sensitive Working Capital 3Q19 and other 2Q19 Operations 2Q19 Portfolio and calendar days Operations 3Q19 and other 3Q19 Liabilities Margin (1) (2) Includes capital allocated to business areas (except treasury) and the corporation working capital. Includes Latin America (ex-Brazil) spread-sensitive operations and structured operations from the wholesale segment. 1 Working capital and other (- R$17 million): negative effect of the decrease in the interest rate on the remuneration of working capital. 2 Mix of products (+ R$270 million): continuous effect from the change in the mix of loan portfolio products and segments with higher spreads, such as consumer credit and very small, small and middle-market companies. 3 Average asset portfolio and liabilities margin (+ R$516 million): increase in all loan portfolios in the quarter. 4 Asset spreads ( - R$102 million): spread reduction in consumer credit for individuals. Annualized average rate of financial margin with clients 3Q19 2Q19 Average Financial Average Rate Average Financial Average Rate (1) (1) In R$ millions, end of period Balance Margin (p.a.) Balance Margin (p.a.) Financial Margin with Clients 720,994 17,621 10.0% 699,245 16,879 10.0% Spread-Sensitive Operations 624,203 16,081 10.6% 602,327 15,322 10.6% Working Capital and Other 96,791 1,540 6.4% 96,918 1,557 6.6% Cost of Credit (4,495) (4,044) Risk-Adjusted Financial Margin with Clients 720,994 13,126 7.4% 699,245 12,834 7.5% (1) Average daily balance. Consolidated Brazil 12.2% 12.2% 12.0% 12.1% 12.1% 12.2% 12.0% 11.8% 10.0% 10.0% 10.0% 9.9% 9.9% 9.9% 9.8% 9.8% 9.6% 9.5% 9.2% 9.2% 9.2% 9.0% 9.0% 8.9% 7.7% 7.6% 7.6% 7.4% 7.6% 7.5% 7.4% 7.1% 7.5% 6.7% 6.4% 6.4% 6.4% 6.0% 6.4% 6.4% 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Financial margin with clients Risk-adjusted financial margin with clients CDI (annualized quarterly rate) Itaú Unibanco Holding S.A. 12

Management Discussion & Analysis Income Statement Analysis Cost of Credit Highlights · Increase of 11.7% in provision for loan losses in the quarter due to the higher credit origination in Retail Banking in Brazil and to the lower allowance reversal in the Wholesale Banking in Brazil. · Compared to the first nine months of 2018, the 15.9% increase in cost of credit is related to the growth of the origination and the loan portfolio of individuals in Brazil and to the lower recovery of loans written off as losses. In R$ millions 3Q19 2Q19 3Q18 9M19 9M18 D D D Provision for Loan Losses (4,922) (4,407) 11.7% ( 3,904) 26.1% (13,535) (12,287) 10.2% Recovery of Loans Written Off as Losses 796 795 0.1% 1,015 -21.6% 2,332 2,755 -15.4% Result from Loan Losses (4,126) (3,612) 14.2% (2,889) 42.8% (11,203) (9,532) 17.5% Impairment (70) (43) 63.1% ( 89) -21.4% (142) (277) -48.7% Discounts Granted (300) (390) -23.1% (285) 5.3% (998) (842) 18.5% Cost of Credit (4,495) (4,044) 11.1% (3,263) 37.8% (12,343) (1 0,651) 15.9% Provision for Loan Losses by Segment The provision for loan losses increased R$515 million in the quarter. This increase, driven by the higher credit origination in the Retail R$ millions Banking in Brazil, was partially offset by the decrease of discounts 3.7 3.6 3.4 3.5 granted in the Wholesale Banking in Brazil. 3.3 3.2 3.1 3.0 2.9 4,922 4,483 4,407 4,206 4,282 4,111 4,271 3,904 3,796 638 Cost of credit increased R$1,692 million compared to the first nine 701 514 489 568 621 554 423 514 532 248 168 393 months of 2018. This increase was driven by the higher provision for 4,210 4,461 3,688 3,726 4,021 3,534 3,482 3,236 3,165 -354 loan losses in Retail Banking in Brazil, related to the loan portfolio -298 -304 -371 -177 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 growth. Additionally, recovery of loans written off as losses Latin America ex-Brazil decreased, driven by loans granted in the same period of 2018 and Wholesale Banking - Brazil the increase in discounts granted. These effects were partially offset Retail Banking - Brazil Provision for Loan Losses / Loan portfolio (*) – Annualized (%) by the decrease of R$135 million in impairment charges on corporate securities in Wholesale Banking in Brazil. (*) Average loan portfolio balance, considering the last two quarters. Note: Retail Banking includes loan loss provisions expenses of Corporation segment. In the business segments section, Latin America is part of Wholesale Banking. · Wholesale Banking - Brazil: lower reversal in the quarter, as fewer segment clients had credit risk rating upgrades. · Retail Banking - Brazil: higher credit origination and the change in Cost of Credit the individuals mix of products led to the R$252 million increase in the provision for loan losses in the quarter. R$ millions 2.7% 2.9% 2.5% 2.7% Recovery of Loans Written off as Losses 2.4% 2.4% 2.5% 2.1% 2.1% R$ millions 4,495 4,257 4,044 3,990 3,788 3,804 300 1,015 3,601 3,415 961 3,263 945 336 390 284 223 308 70 844 273 777 795 795 796 312 43 741 282 285 30 262 187 1 ' 269 89 4,126 3,505 3,639 3,612 3,316 3,326 3,466 2,889 2,834 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Discounts Granted Impairment Result from Loan Losses In the quarter, the sale of portfolios that had already been written off Cost of Credit Cost of Credit / Total Risk (*) – Annualized (%) as losses in the amount of R$674 million generated a positive impact of R$82 million in recovery of loans written off as losses and of R$47 (*) Average loan portfolio balance with financial guarantees provided and corporate million on recurring net income. securities, considering the last two quarters. Itaú Unibanco Holding S.A. 13 Management Discussion & Analysis Income Statement Analysis Cost of Credit Highlights · Increase of 11.7% in provision for loan losses in the quarter due to the higher credit origination in Retail Banking in Brazil and to the lower allowance reversal in the Wholesale Banking in Brazil. · Compared to the first nine months of 2018, the 15.9% increase in cost of credit is related to the growth of the origination and the loan portfolio of individuals in Brazil and to the lower recovery of loans written off as losses. In R$ millions 3Q19 2Q19 3Q18 9M19 9M18 D D D Provision for Loan Losses (4,922) (4,407) 11.7% ( 3,904) 26.1% (13,535) (12,287) 10.2% Recovery of Loans Written Off as Losses 796 795 0.1% 1,015 -21.6% 2,332 2,755 -15.4% Result from Loan Losses (4,126) (3,612) 14.2% (2,889) 42.8% (11,203) (9,532) 17.5% Impairment (70) (43) 63.1% ( 89) -21.4% (142) (277) -48.7% Discounts Granted (300) (390) -23.1% (285) 5.3% (998) (842) 18.5% Cost of Credit (4,495) (4,044) 11.1% (3,263) 37.8% (12,343) (1 0,651) 15.9% Provision for Loan Losses by Segment The provision for loan losses increased R$515 million in the quarter. This increase, driven by the higher credit origination in the Retail R$ millions Banking in Brazil, was partially offset by the decrease of discounts 3.7 3.6 3.4 3.5 granted in the Wholesale Banking in Brazil. 3.3 3.2 3.1 3.0 2.9 4,922 4,483 4,407 4,206 4,282 4,111 4,271 3,904 3,796 638 Cost of credit increased R$1,692 million compared to the first nine 701 514 489 568 621 554 423 514 532 248 168 393 months of 2018. This increase was driven by the higher provision for 4,210 4,461 3,688 3,726 4,021 3,534 3,482 3,236 3,165 -354 loan losses in Retail Banking in Brazil, related to the loan portfolio -298 -304 -371 -177 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 growth. Additionally, recovery of loans written off as losses Latin America ex-Brazil decreased, driven by loans granted in the same period of 2018 and Wholesale Banking - Brazil the increase in discounts granted. These effects were partially offset Retail Banking - Brazil Provision for Loan Losses / Loan portfolio (*) – Annualized (%) by the decrease of R$135 million in impairment charges on corporate securities in Wholesale Banking in Brazil. (*) Average loan portfolio balance, considering the last two quarters. Note: Retail Banking includes loan loss provisions expenses of Corporation segment. In the business segments section, Latin America is part of Wholesale Banking. · Wholesale Banking - Brazil: lower reversal in the quarter, as fewer segment clients had credit risk rating upgrades. · Retail Banking - Brazil: higher credit origination and the change in Cost of Credit the individuals mix of products led to the R$252 million increase in the provision for loan losses in the quarter. R$ millions 2.7% 2.9% 2.5% 2.7% Recovery of Loans Written off as Losses 2.4% 2.4% 2.5% 2.1% 2.1% R$ millions 4,495 4,257 4,044 3,990 3,788 3,804 300 1,015 3,601 3,415 961 3,263 945 336 390 284 223 308 70 844 273 777 795 795 796 312 43 741 282 285 30 262 187 1 ' 269 89 4,126 3,505 3,639 3,612 3,316 3,326 3,466 2,889 2,834 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Discounts Granted Impairment Result from Loan Losses In the quarter, the sale of portfolios that had already been written off Cost of Credit Cost of Credit / Total Risk (*) – Annualized (%) as losses in the amount of R$674 million generated a positive impact of R$82 million in recovery of loans written off as losses and of R$47 (*) Average loan portfolio balance with financial guarantees provided and corporate million on recurring net income. securities, considering the last two quarters. Itaú Unibanco Holding S.A. 13

Management Discussion & Analysis Income Statement Analysis Allowance for Loan Losses and for Financial Guarantees Loan Portfolio by Risk Level Provided Brazil1 Consolidated Compared to the end of June 2019, the allowance for loan losses and for financial guarantees provided were up 4.2%. This increase Total Allowance for Loan Losses (R$ million) occurred in Brazilian operations driven by the higher requirement 30,480 28,249 29,613 35,496 33,091 34,477 allowance in the Wholesale Banking and by the loan portfolio growth in the Retail Banking. R$ millions Loan Portfolio by Risk Level 35,496 34,261 34,477 34,206 33,091 7,065 5,784 5,964 6,375 5,748 42.9% 43.0% 42.8% 44.5% 44.0% 44.6% 1,010 1,269 1,158 1,136 1,139 27,163 27,084 27,683 26,750 26,205 34.8% 33.6% 32.4% 38.1% 37.5% 36.7% 9.1% 9.8% 9.8% 4.9% 6.0% 6.2% 4.0% Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 4.4% 4.4% 4.8% 5.0% 5.5% 9.9% 8.7% 8.8% 8.4% 7.6% 7.7% Complementary Allowance Sep-18 Jun-19 Sep-19 Sep-18 Jun-19 Sep-19 Allowance for Financial Guarantees Provided Minimum Allowance AA A B C D-H We present below the total allowance allocation by type of risk: Overdue Risk: Allowances for overdue loans, as required by the Brazilian Central Bank, related to the provision required for overdue operations according to CMN Resolution No. 2,682/1999. We also present the amount for loans 100% provisioned and for loans that do not require 100% of provision. Aggravated Risk: Allowances for overdue loans with aggravated risk ratings above the minimum, and allowances for renegotiated loans. Regarding renegotiated loans, we segregate allowances over the minimum for overdue operations and allowances for non-overdue operations. Potential Risk: Allowances for expected losses related to Retail Banking operations and allowances for potential losses related to Wholesale Banking operations, which includes allowance for financial guarantees provided. R$ millions Allocation of Total Allowance by Type of Risk - Consolidated Sep-19 11,213 10,123 13,141 34,477 Jun-19 10,666 9,514 12,910 33,091 Sep-18 10,160 10,418 14,919 35,496 Overdue operations according to the Potential Loss Renegotiations and overdue loans Brazilian Central Bank 14,919 Renegotiations Provision < 100% 13,141 567 896 12,910 2,374 315 2,281 11,213 2,388 10,418 10,666 10,123 4,046 34% 83% 10,160 9,514 1,326 3,479 1,302 1,212 1,258 1,341 6,472 1,074 1,241 3,498 2,942 3,457 1,168 1,015 4,222 3,714 3,254 Fully Provisioned Overdue 759 362 8,813 8,286 7,804 759 7,363 7,065 6,073 5,151 4,894 5,019 66% 17% 235 1,105 5,871 Sep-18 Jun-19 Sep-19 Sep-18 Jun-19 Sep-19 Sep-18 Jun-19 Sep-19 Retail - Brazil 1 Wholesale - Brazil 1 Latin America 2 ¹ Includes units abroad ex-Latin America.² Excludes Brazil. Itaú Unibanco Holding S.A. 14 Management Discussion & Analysis Income Statement Analysis Allowance for Loan Losses and for Financial Guarantees Loan Portfolio by Risk Level Provided Brazil1 Consolidated Compared to the end of June 2019, the allowance for loan losses and for financial guarantees provided were up 4.2%. This increase Total Allowance for Loan Losses (R$ million) occurred in Brazilian operations driven by the higher requirement 30,480 28,249 29,613 35,496 33,091 34,477 allowance in the Wholesale Banking and by the loan portfolio growth in the Retail Banking. R$ millions Loan Portfolio by Risk Level 35,496 34,261 34,477 34,206 33,091 7,065 5,784 5,964 6,375 5,748 42.9% 43.0% 42.8% 44.5% 44.0% 44.6% 1,010 1,269 1,158 1,136 1,139 27,163 27,084 27,683 26,750 26,205 34.8% 33.6% 32.4% 38.1% 37.5% 36.7% 9.1% 9.8% 9.8% 4.9% 6.0% 6.2% 4.0% Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 4.4% 4.4% 4.8% 5.0% 5.5% 9.9% 8.7% 8.8% 8.4% 7.6% 7.7% Complementary Allowance Sep-18 Jun-19 Sep-19 Sep-18 Jun-19 Sep-19 Allowance for Financial Guarantees Provided Minimum Allowance AA A B C D-H We present below the total allowance allocation by type of risk: Overdue Risk: Allowances for overdue loans, as required by the Brazilian Central Bank, related to the provision required for overdue operations according to CMN Resolution No. 2,682/1999. We also present the amount for loans 100% provisioned and for loans that do not require 100% of provision. Aggravated Risk: Allowances for overdue loans with aggravated risk ratings above the minimum, and allowances for renegotiated loans. Regarding renegotiated loans, we segregate allowances over the minimum for overdue operations and allowances for non-overdue operations. Potential Risk: Allowances for expected losses related to Retail Banking operations and allowances for potential losses related to Wholesale Banking operations, which includes allowance for financial guarantees provided. R$ millions Allocation of Total Allowance by Type of Risk - Consolidated Sep-19 11,213 10,123 13,141 34,477 Jun-19 10,666 9,514 12,910 33,091 Sep-18 10,160 10,418 14,919 35,496 Overdue operations according to the Potential Loss Renegotiations and overdue loans Brazilian Central Bank 14,919 Renegotiations Provision < 100% 13,141 567 896 12,910 2,374 315 2,281 11,213 2,388 10,418 10,666 10,123 4,046 34% 83% 10,160 9,514 1,326 3,479 1,302 1,212 1,258 1,341 6,472 1,074 1,241 3,498 2,942 3,457 1,168 1,015 4,222 3,714 3,254 Fully Provisioned Overdue 759 362 8,813 8,286 7,804 759 7,363 7,065 6,073 5,151 4,894 5,019 66% 17% 235 1,105 5,871 Sep-18 Jun-19 Sep-19 Sep-18 Jun-19 Sep-19 Sep-18 Jun-19 Sep-19 Retail - Brazil 1 Wholesale - Brazil 1 Latin America 2 ¹ Includes units abroad ex-Latin America.² Excludes Brazil. Itaú Unibanco Holding S.A. 14

Management Discussion & Analysis Income Statement Analysis Credit Quality Highlights · NPL ratio 90 days overdue (NPL 90) remained stable in the quarter. The lower NPL ratio of the corporate, and very small, small and middle- market segments led to a lower ratio in Brazil. · NPL ratio 15 to 90 days overdue (NPL 15-90) decreased from the previous quarter for all segments in Brazil, reaching the lowest level since the merger between Itaú and Unibanco. Nonperforming Loans NPL Ratio (%) | 15 to 90 days R$ billions 3.6 3.3 3.3 3.0 3.2 3.2 2.9 3.2 3.1 3.1 2.8 2.8 2.8 2.9 2.8 2.6 2.6 16.6 16.4 3.2 2.5 2.5 15.9 3.1 15.6 2.3 15.2 15.5 3.0 2.9 14.9 15.1 14.3 14.6 2.7 2.7 2.7 2.7 14.3 13.8 2.6 2.7 2.7 2.5 2.5 2.5 13.2 13.3 13.4 2.7 2.6 13.1 13.0 2.5 2.3 2.3 2.6 12.3 2.1 2.3 2.1 2.4 2.4 2.4 2.3 2.2 1.8 * 1.5 1.5 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Nonperforming Loans over 90 days - Total Nonperforming Loans over 90 days - Brazil¹ Total Brazil¹ Latin America² · Nonperforming loans - 90 days - Total: the 4.2% increase from * Note: Total and Latin America NPL Ratio (15-90 days) prior to June 2016 do not include the previous quarter is mainly due to the increase in nonperforming CorpBanca. loans of individuals in Brazil, driven by the increase of higher risk loan portfolios in the products mix and by the credit expansion within our · Consolidated: the ratio decreased from the previous quarter and risk appetite. previous year due to the lower delinquency rates in Brazil, reaching the lowest level since the merger between Itaú and Unibanco. NPL Ratio (%) | over 90 days · Brazil1: the ratio decreased from the previous quarter with lower delinquency rates in all segments, reaching the lowest level since the 4.8 merger between Itaú and Unibanco. 4.5 4.4 4.2 4.2 3.9 3.9 3.8 3.8 3.7 3.7 3.7· Latin America2: the ratio remained stable in the quarter. 3.5 3.5 3.5 3.4 3.4 3.9 3.6 3.5 3.4 3.4 3.2 3.2 3.1 3.1 3.0 3.2 3.0 2.9 2.9 2.9 2.8 2.9 1.6 1.5 1.3 1.4 1.5 1.4 1.4 1.4 1.2 1.3 1.4 1.2 1.2 1.2 1.1 1.1 1.1 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 NPL Ratio - Brazil1 (%) | 15 to 90 days Total Brazil¹ Latin America² · Consolidated: the ratio remained stable in the quarter. 4.2 4.3 4.2 4.2 3.9 4.0 3.7 · Brazil1: the ratio decreased from the previous quarter driven by the 3.6 3.5 3.5 3.5 4.2 3.4 3.4 4.2 3.2 3.3 3.2 3.9 2.9 3.8 3.7 corporate segment, and very small, small and middle market 3.5 3.4 2.3 2.5 2.4 2.3 2.0 3.0 2.8 1.9 companies in Brazil. 1.8 1.7 1.8 1.6 1.5 1.5 1.5 1.0 1.0 1.8 0.9 · Latin America2: the ratio remained stable in the quarter. 1.7 0.7 1.5 1.0 0.9 0.8 0.7 0.7 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 NPL Ratio - Brazil1 (%) | over 90 days Individuals Very Small, Small and Middle Market Companies Corporate 6.3 6.0 6.0 5.8 5.8 5.6 5.4 5.2 5.1 4.9 · Individuals: the ratio decreased from the previous quarter, driven 5.9 4.6 4.7 4.5 4.5 5.7 4.4 4.5 5.6 4.4 5.6 5.3 5.1 4.9 by the lower delinquency rates in all portfolios. 4.7 4.5 4.3 3.2 4.2 2.9 3.7 2.5 2.4 3.4· Very small, small and middle-market companies: the ratio 2.8 2.6 nd decreased for the 2 consecutive quarter, reaching the lowest level 1.8 1.7 1.8 1.5 1.6 1.6 1.5 1.5 1.4 1.1 1.2 1.3 1.0 1.0 1.0 since the merger between Itaú and Unibanco, due to the better Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 quality of recent vintages.  Individuals Corporate Very Small, Small and Middle Market Companies · Corporate: the ratio decreased compared to the previous quarter, · Individuals: the ratio increased from the previous quarter, driven mainly driven by the renegotiation of overdue loans portfolio. by the increase of higher risk loan portfolios in the products mix and by the credit expansion within our risk appetite. · Very small, small and middle-market companies: the ratio th decreased for the 12 consecutive quarter, reaching the lowest level since the merger between Itaú and Unibanco, due to the better quality of recent vintages. · Corporate: the ratio decreased from the previous quarter, mainly ¹ Includes units abroad ex-Latin America.² Excludes Brazil. driven by the loans written off as losses from specific corporate clients. Itaú Unibanco Holding S.A. 15 Management Discussion & Analysis Income Statement Analysis Credit Quality Highlights · NPL ratio 90 days overdue (NPL 90) remained stable in the quarter. The lower NPL ratio of the corporate, and very small, small and middle- market segments led to a lower ratio in Brazil. · NPL ratio 15 to 90 days overdue (NPL 15-90) decreased from the previous quarter for all segments in Brazil, reaching the lowest level since the merger between Itaú and Unibanco. Nonperforming Loans NPL Ratio (%) | 15 to 90 days R$ billions 3.6 3.3 3.3 3.0 3.2 3.2 2.9 3.2 3.1 3.1 2.8 2.8 2.8 2.9 2.8 2.6 2.6 16.6 16.4 3.2 2.5 2.5 15.9 3.1 15.6 2.3 15.2 15.5 3.0 2.9 14.9 15.1 14.3 14.6 2.7 2.7 2.7 2.7 14.3 13.8 2.6 2.7 2.7 2.5 2.5 2.5 13.2 13.3 13.4 2.7 2.6 13.1 13.0 2.5 2.3 2.3 2.6 12.3 2.1 2.3 2.1 2.4 2.4 2.4 2.3 2.2 1.8 * 1.5 1.5 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Nonperforming Loans over 90 days - Total Nonperforming Loans over 90 days - Brazil¹ Total Brazil¹ Latin America² · Nonperforming loans - 90 days - Total: the 4.2% increase from * Note: Total and Latin America NPL Ratio (15-90 days) prior to June 2016 do not include the previous quarter is mainly due to the increase in nonperforming CorpBanca. loans of individuals in Brazil, driven by the increase of higher risk loan portfolios in the products mix and by the credit expansion within our · Consolidated: the ratio decreased from the previous quarter and risk appetite. previous year due to the lower delinquency rates in Brazil, reaching the lowest level since the merger between Itaú and Unibanco. NPL Ratio (%) | over 90 days · Brazil1: the ratio decreased from the previous quarter with lower delinquency rates in all segments, reaching the lowest level since the 4.8 merger between Itaú and Unibanco. 4.5 4.4 4.2 4.2 3.9 3.9 3.8 3.8 3.7 3.7 3.7· Latin America2: the ratio remained stable in the quarter. 3.5 3.5 3.5 3.4 3.4 3.9 3.6 3.5 3.4 3.4 3.2 3.2 3.1 3.1 3.0 3.2 3.0 2.9 2.9 2.9 2.8 2.9 1.6 1.5 1.3 1.4 1.5 1.4 1.4 1.4 1.2 1.3 1.4 1.2 1.2 1.2 1.1 1.1 1.1 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 NPL Ratio - Brazil1 (%) | 15 to 90 days Total Brazil¹ Latin America² · Consolidated: the ratio remained stable in the quarter. 4.2 4.3 4.2 4.2 3.9 4.0 3.7 · Brazil1: the ratio decreased from the previous quarter driven by the 3.6 3.5 3.5 3.5 4.2 3.4 3.4 4.2 3.2 3.3 3.2 3.9 2.9 3.8 3.7 corporate segment, and very small, small and middle market 3.5 3.4 2.3 2.5 2.4 2.3 2.0 3.0 2.8 1.9 companies in Brazil. 1.8 1.7 1.8 1.6 1.5 1.5 1.5 1.0 1.0 1.8 0.9 · Latin America2: the ratio remained stable in the quarter. 1.7 0.7 1.5 1.0 0.9 0.8 0.7 0.7 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 NPL Ratio - Brazil1 (%) | over 90 days Individuals Very Small, Small and Middle Market Companies Corporate 6.3 6.0 6.0 5.8 5.8 5.6 5.4 5.2 5.1 4.9 · Individuals: the ratio decreased from the previous quarter, driven 5.9 4.6 4.7 4.5 4.5 5.7 4.4 4.5 5.6 4.4 5.6 5.3 5.1 4.9 by the lower delinquency rates in all portfolios. 4.7 4.5 4.3 3.2 4.2 2.9 3.7 2.5 2.4 3.4· Very small, small and middle-market companies: the ratio 2.8 2.6 nd decreased for the 2 consecutive quarter, reaching the lowest level 1.8 1.7 1.8 1.5 1.6 1.6 1.5 1.5 1.4 1.1 1.2 1.3 1.0 1.0 1.0 since the merger between Itaú and Unibanco, due to the better Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 quality of recent vintages. Individuals Corporate Very Small, Small and Middle Market Companies · Corporate: the ratio decreased compared to the previous quarter, · Individuals: the ratio increased from the previous quarter, driven mainly driven by the renegotiation of overdue loans portfolio. by the increase of higher risk loan portfolios in the products mix and by the credit expansion within our risk appetite. · Very small, small and middle-market companies: the ratio th decreased for the 12 consecutive quarter, reaching the lowest level since the merger between Itaú and Unibanco, due to the better quality of recent vintages. · Corporate: the ratio decreased from the previous quarter, mainly ¹ Includes units abroad ex-Latin America.² Excludes Brazil. driven by the loans written off as losses from specific corporate clients. Itaú Unibanco Holding S.A. 15

Management Discussion & Analysis Income Statement Analysis Coverage Ratio | 90 days NPL Creation R$ millions 246% 248% 245% 236% 235% 221% 5,287 5,042 208% 208% 208% 5,076 4,968 4,744 4,381 4,375 4,442 3,790 4,286 3,907 3,619 3,535 3,456 3,565 3,499 3,312 3,191 100% 100% 96% 95% 92% 90% 88% 87% 86% 1,149 1,152 1,038 852 669 530 547 546 427 517 702 410 395 360 231 318 149 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 -256 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Total Total (Expanded) Total Retail Banking - Brazil Wholesale Banking - Brazil Latin America ex-Brazil 952% 932% 908% 618% 639%· Consolidated: increased from the previous period driven by the 517% 487% mix of products in portfolios with higher risk of the Retail Banking in 253% 399% 249% 247% 241% 338% Brazil, and by the rollover of Latin America clients to longer overdue 235% 227% 220% 221% 223% 241% periods. 215% 235% 221% 219% 206% 205% 207% 204% 169% 172% 172% 169% 168% 169% 166% 169% 164% Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 NPL Creation Coverage Total - Brazil¹ Latin America ex-Brazil Retail Banking - Brazil Wholesale Banking - Brazil 230% 128% · Consolidated: coverage ratio remained stable in the quarter. The 136% 138% 99% 130% 133% 107% 114% 98% 113% 108% 104% 104% 108% 82% increase in Wholesale Banking in Brazil was due to the NPL 90 days 102% 113% 93% 97% 79% overdue reduction in the segment. This increase was offset by the 100% 93% 89% 85% 83% 79% 75% greater relevance of the Retail Banking in Brazil portfolio, which has 48% -29% -26% 34% -53% structurally lower coverage than the Wholesale portfolio. -66% -87% -119% 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Loan Portfolio Write-Off R$ millions Total Retail Banking - Brazil Wholesale Banking - Brazil Latin America ex-Brazil 5,250 4,726 4,714 4,776 4,623 4,412 4,422 4,151 4,064 1.0% 0.9% 1.0% 0.9% 1.0% 0.8% 0.8% 0.8% 0.8% Total NPL Creation coverage remained stable in the quarter. The provision for loan losses and NPL Creation increased compared to the previous quarter It is worth mentioning that the expected loss model 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 includes provisions for operations with incurred losses and for Write-Off Write-Off / Loan Portfolio (*) operations that have not incurred losses yet. (*) Loan portfolio average balance for the previous two quarters. Loan portfolio write-off decreased 11.9% when compared to the previous quarter, mainly in the Wholesale Banking segment in Brazil. The ratio of written-off operations to the average balance of loan portfolio decreased, but it remains consistent with previous years. ¹ Includes units abroad ex-Latin America. Renegotiated Loans Operations Some exposures of the corporate segment in Brazil led to the By overdue period measured at the increase in renegotiated loan operations portfolio in the quarter. renegotiation moment Consequently, the delinquency rate decreased, with no significant R$ billions Brazil changes in the coverage ratio level. 25.7 25.2 25.4 24.7 26.0 27.9 28.4 27.6 27.3 26.9 2.2 2.5 2.1 2.3 2.3 1.8 2.0 1.8 1.8 1.3 41.4% 41.4% 40.8% 7.6 39.5% 7.3 39.2% 8.7 8.2 8.0 5.2 4.9 4.8 4.9 5.1 1.4 1.3 1.4 1.4 1.3 19.1% 17.5% 16.8% 16.8% 15.7% 9.8 9.9 9.0 9.2 8.8 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 When non-overdue When up to 30 days overdue When 31-90 days overdue Coverage Ratio (LLP/Portfolio) When over 90 days overdue When Written-off as a Loss Latin America Total of Renegotiated Loans Portfolio 90-day NPL ratio (%) Itaú Unibanco Holding S.A. 16 Management Discussion & Analysis Income Statement Analysis Coverage Ratio | 90 days NPL Creation R$ millions 246% 248% 245% 236% 235% 221% 5,287 5,042 208% 208% 208% 5,076 4,968 4,744 4,381 4,375 4,442 3,790 4,286 3,907 3,619 3,535 3,456 3,565 3,499 3,312 3,191 100% 100% 96% 95% 92% 90% 88% 87% 86% 1,149 1,152 1,038 852 669 530 547 546 427 517 702 410 395 360 231 318 149 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 -256 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Total Total (Expanded) Total Retail Banking - Brazil Wholesale Banking - Brazil Latin America ex-Brazil 952% 932% 908% 618% 639%· Consolidated: increased from the previous period driven by the 517% 487% mix of products in portfolios with higher risk of the Retail Banking in 253% 399% 249% 247% 241% 338% Brazil, and by the rollover of Latin America clients to longer overdue 235% 227% 220% 221% 223% 241% periods. 215% 235% 221% 219% 206% 205% 207% 204% 169% 172% 172% 169% 168% 169% 166% 169% 164% Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 NPL Creation Coverage Total - Brazil¹ Latin America ex-Brazil Retail Banking - Brazil Wholesale Banking - Brazil 230% 128% · Consolidated: coverage ratio remained stable in the quarter. The 136% 138% 99% 130% 133% 107% 114% 98% 113% 108% 104% 104% 108% 82% increase in Wholesale Banking in Brazil was due to the NPL 90 days 102% 113% 93% 97% 79% overdue reduction in the segment. This increase was offset by the 100% 93% 89% 85% 83% 79% 75% greater relevance of the Retail Banking in Brazil portfolio, which has 48% -29% -26% 34% -53% structurally lower coverage than the Wholesale portfolio. -66% -87% -119% 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Loan Portfolio Write-Off R$ millions Total Retail Banking - Brazil Wholesale Banking - Brazil Latin America ex-Brazil 5,250 4,726 4,714 4,776 4,623 4,412 4,422 4,151 4,064 1.0% 0.9% 1.0% 0.9% 1.0% 0.8% 0.8% 0.8% 0.8% Total NPL Creation coverage remained stable in the quarter. The provision for loan losses and NPL Creation increased compared to the previous quarter It is worth mentioning that the expected loss model 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 includes provisions for operations with incurred losses and for Write-Off Write-Off / Loan Portfolio (*) operations that have not incurred losses yet. (*) Loan portfolio average balance for the previous two quarters. Loan portfolio write-off decreased 11.9% when compared to the previous quarter, mainly in the Wholesale Banking segment in Brazil. The ratio of written-off operations to the average balance of loan portfolio decreased, but it remains consistent with previous years. ¹ Includes units abroad ex-Latin America. Renegotiated Loans Operations Some exposures of the corporate segment in Brazil led to the By overdue period measured at the increase in renegotiated loan operations portfolio in the quarter. renegotiation moment Consequently, the delinquency rate decreased, with no significant R$ billions Brazil changes in the coverage ratio level. 25.7 25.2 25.4 24.7 26.0 27.9 28.4 27.6 27.3 26.9 2.2 2.5 2.1 2.3 2.3 1.8 2.0 1.8 1.8 1.3 41.4% 41.4% 40.8% 7.6 39.5% 7.3 39.2% 8.7 8.2 8.0 5.2 4.9 4.8 4.9 5.1 1.4 1.3 1.4 1.4 1.3 19.1% 17.5% 16.8% 16.8% 15.7% 9.8 9.9 9.0 9.2 8.8 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 When non-overdue When up to 30 days overdue When 31-90 days overdue Coverage Ratio (LLP/Portfolio) When over 90 days overdue When Written-off as a Loss Latin America Total of Renegotiated Loans Portfolio 90-day NPL ratio (%) Itaú Unibanco Holding S.A. 16

Management Discussion & Analysis Income Statement Analysis Commissions and Fees and Result from Insurance Operations1 Highlights · A 1.0% increase in the quarter driven by higher fund management fees, revenues from advisory services and brokerage. Compared to the third quarter of 2018, the 6.8% increase is driven also by advisory and brokerage services and fund management fees. · An increase of R$1,154 million in the first nine months of 2019 due to higher revenues from advisory and brokerage services, fund management fees and credit card issuing activities. These positive effects were partially offset by the lower revenues from the acquiring business. D D D In R$ millions 3Q19 2Q19 3Q18 9M19 9M18 Credit and Debit Cards 3,194 3 ,192 0.1% 3,379 -5.5% 9,666 9,963 -3.0% Card Issuance 2,262 2,228 1.5% 2,202 2.7% 6,665 6,280 6.1% Acquiring 9 32 964 -3.3% 1,177 -20.8% 3,001 3,683 -18.5% Current Account Services 1,885 1 ,827 3.2% 1,829 3.1% 5,558 5,466 1.7% Asset Management 1,375 1,270 8.3% 1,068 28.7% 3,713 3,188 16.5% Fund Management Fees 1,200 1,100 9.1% 890 34.9% 3,188 2,689 18.5% Consortia Administration Fees 176 171 2.9% 179 -1.8% 525 498 5.3% Advisory Services and Brokerage 698 611 14.1% 279 150.4% 1,683 1,018 65.3% Credit Operations and Guarantees Provided 607 661 -8.3% 606 0.1% 1,867 1,903 -1.9% Collection Services 498 489 2.0% 472 5.6% 1,454 1,413 2.9% Other 294 277 6.2% 249 18.2% 829 797 4.0% Latin America (ex-Brazil) 715 736 -2.8% 750 -4.6% 2,183 2,140 2.0% Commissions and Fees 9,267 9 ,063 2.2% 8,632 7.3% 26,951 25,887 4.1% Result from Insurance Operations¹ 1,575 1,675 -6.0% 1,521 3.6% 4,857 4,767 1.9% Total 10, 842 10,738 1.0% 10,153 6.8% 31,808 30,654 3.8% ¹ Revenues from Insurance, Pension Plan and Premium Bonds Operations net of retained claims and selling expenses. Credit and Debit Cards Credit and debit card revenues remained stable compared to the previous quarter as the higher revenues from interchange fees were offset by decreased revenues from MDR (Merchant Discount Rates) and annuity fees. The new commercial proposal of the acquiring business, which established the end of the prepayment rate on credit card transactions without installments and the evolution of Pop Credicard contributed to the increase in the equipment base of 8.0% in the quarter and of 28.9% when compared to the same period of the previous year. Compared to the first nine months of 2018, card revenues were down 3.0% due to the lower revenues from the acquiring business related to MDR (Merchant Discount Rate), rental of machines and prepayment. These effects were partially offset by higher revenues from credit interchange and annuity fees. Acquiring Activities Card Issuance Activities R$ millions R$ millions Transaction Volume Transaction Volume 1,465 31.6 33.8 34.1 3Q19 3Q19 1,357 29.3 29.8 1,137 27.5 133,276 126,316 R$133.3 billion R$118.9 billion 118,877 114,055 114,594 109,250 31,988 + 5.5% (vs. 2Q19) 30,947 + 4.2% (vs. 2Q19) 28,482 42,242 39,959 38,873 + 16.3% (vs. 3Q18) + 8.8% (vs. 3Q18) 101,289 95,368 credit credit 86,111 74,095 76,636 70,376 + 6.2% (vs. 2Q19) + 3.4% (vs. 2Q19) + 17.6% (vs. 3Q18) + 8.9% (vs. 3Q18) 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 debit debit Credit Card Transactions Volume Debit Card Transactions Volume + 5.7% (vs. 2Q19) Debit Card Transactions Volume Credit Card Transactions Volume + 3.4% (vs. 2Q19) Equipment Base (thousands) Credit card accounts - does not include additional cards (millions) + 8.7% (vs. 3Q18) + 12.3% (vs. 3Q18) Debit card accounts - does not include additional cards (millions) Note: Debit cards include account holders only. Itaú Unibanco Holding S.A. 17 Management Discussion & Analysis Income Statement Analysis Commissions and Fees and Result from Insurance Operations1 Highlights · A 1.0% increase in the quarter driven by higher fund management fees, revenues from advisory services and brokerage. Compared to the third quarter of 2018, the 6.8% increase is driven also by advisory and brokerage services and fund management fees. · An increase of R$1,154 million in the first nine months of 2019 due to higher revenues from advisory and brokerage services, fund management fees and credit card issuing activities. These positive effects were partially offset by the lower revenues from the acquiring business. D D D In R$ millions 3Q19 2Q19 3Q18 9M19 9M18 Credit and Debit Cards 3,194 3 ,192 0.1% 3,379 -5.5% 9,666 9,963 -3.0% Card Issuance 2,262 2,228 1.5% 2,202 2.7% 6,665 6,280 6.1% Acquiring 9 32 964 -3.3% 1,177 -20.8% 3,001 3,683 -18.5% Current Account Services 1,885 1 ,827 3.2% 1,829 3.1% 5,558 5,466 1.7% Asset Management 1,375 1,270 8.3% 1,068 28.7% 3,713 3,188 16.5% Fund Management Fees 1,200 1,100 9.1% 890 34.9% 3,188 2,689 18.5% Consortia Administration Fees 176 171 2.9% 179 -1.8% 525 498 5.3% Advisory Services and Brokerage 698 611 14.1% 279 150.4% 1,683 1,018 65.3% Credit Operations and Guarantees Provided 607 661 -8.3% 606 0.1% 1,867 1,903 -1.9% Collection Services 498 489 2.0% 472 5.6% 1,454 1,413 2.9% Other 294 277 6.2% 249 18.2% 829 797 4.0% Latin America (ex-Brazil) 715 736 -2.8% 750 -4.6% 2,183 2,140 2.0% Commissions and Fees 9,267 9 ,063 2.2% 8,632 7.3% 26,951 25,887 4.1% Result from Insurance Operations¹ 1,575 1,675 -6.0% 1,521 3.6% 4,857 4,767 1.9% Total 10, 842 10,738 1.0% 10,153 6.8% 31,808 30,654 3.8% ¹ Revenues from Insurance, Pension Plan and Premium Bonds Operations net of retained claims and selling expenses. Credit and Debit Cards Credit and debit card revenues remained stable compared to the previous quarter as the higher revenues from interchange fees were offset by decreased revenues from MDR (Merchant Discount Rates) and annuity fees. The new commercial proposal of the acquiring business, which established the end of the prepayment rate on credit card transactions without installments and the evolution of Pop Credicard contributed to the increase in the equipment base of 8.0% in the quarter and of 28.9% when compared to the same period of the previous year. Compared to the first nine months of 2018, card revenues were down 3.0% due to the lower revenues from the acquiring business related to MDR (Merchant Discount Rate), rental of machines and prepayment. These effects were partially offset by higher revenues from credit interchange and annuity fees. Acquiring Activities Card Issuance Activities R$ millions R$ millions Transaction Volume Transaction Volume 1,465 31.6 33.8 34.1 3Q19 3Q19 1,357 29.3 29.8 1,137 27.5 133,276 126,316 R$133.3 billion R$118.9 billion 118,877 114,055 114,594 109,250 31,988 + 5.5% (vs. 2Q19) 30,947 + 4.2% (vs. 2Q19) 28,482 42,242 39,959 38,873 + 16.3% (vs. 3Q18) + 8.8% (vs. 3Q18) 101,289 95,368 credit credit 86,111 74,095 76,636 70,376 + 6.2% (vs. 2Q19) + 3.4% (vs. 2Q19) + 17.6% (vs. 3Q18) + 8.9% (vs. 3Q18) 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 debit debit Credit Card Transactions Volume Debit Card Transactions Volume + 5.7% (vs. 2Q19) Debit Card Transactions Volume Credit Card Transactions Volume + 3.4% (vs. 2Q19) Equipment Base (thousands) Credit card accounts - does not include additional cards (millions) + 8.7% (vs. 3Q18) + 12.3% (vs. 3Q18) Debit card accounts - does not include additional cards (millions) Note: Debit cards include account holders only. Itaú Unibanco Holding S.A. 17

Management Discussion & Analysis Income Statement Analysis Loan Operations and Financial Guarantees Current Account Services Provided Revenues from current account services were up 3.2% from the previous quarter driven mainly by higher number of current-account Revenues from loan operations and financial guarantees provided holders. decreased by 8.3% from the previous quarter, driven by the lower Compared to the first nine months of 2018, these revenues volume of financial guarantees provided and the lower use of increased by 1.7% driven by the positive effect of the 9% increase in advances to deposit account holders. the number of current-account holders which was partially offset by the higher exemptions in current account types. Compared to the first nine months of 2018, these revenues were down by 1.9% driven by the lower volume of financial guarantees provided, which was partially offset by the higher revenues from loan New Accounts operations. Individuals accounts (in thousands) 1,108 1,088 1,010 Collection Services 276 Revenues from collection services increased by 2.0% compared to 165 the previous quarter, due to the higher volume, pricing, increased offer and expansion of collection services. 53 Compared to the first nine months of 2018, these revenues grew by 3Q17 3Q18 3Q19 2.9% driven by higher volume and pricing from payment of taxes and Abreconta App Brick and Mortar Branches contributions. Asset Management Advisory Services and Brokerage · Fund Management Higher capital market activity, which reflected both in investment banking and brokerage operations, led to the R$86 million increase in Fund management fees were higher by R$100 million in the quarter the quarter and 65.3% growth when compared to the first nine driven by the 9.7% increase in assets under administration. The months of 2018. positive effect driven by the higher number of business days in the quarter was offset by the lower revenues from the performance fees. Fixed Income: we took part in local operations with debentures, promissory notes and securitization, which totaled R$30.3 billion up Compared to the first nine months 2018, fund management fees to September 2019, maintaining the leadership position in the grew 18.5% driven by a 20.8% increase in assets under administration. ANBIMA(Brazilian Financial and Capital Markets Association) ranking. We highlight the 50.7% growth in the balance of funds distributed Equities: we undertook 16 offerings in South America in the first through our open investment platform initiative. nine months of 2019, which totaled US$2.0 billion, maintaining the leadership position in the Dealogic ranking. Managed Portfolio and Investment Funds R$ billions Mergers and Acquisitions: in the first nine months of 2019, we +9.7% +20.8% provided financial advisory on 28 transactions in South America, 1,290 totaling US$11.6 billion in the Dealogic ranking. 1,176 1,135 172 1,107 1,068 155 142 125 114 1,118 1,021 983 993 954 3Q18 4Q18 1Q19 2Q19 3Q19 Total Balance (ex- Open Platform) Open Platform Note: Does not include Latin America (ex-Brazil). · Consortia Administration Fees Consortia administration fees increased by 2.9% in the quarter, driven by the 4.1% increase in installments receivable. Compared to the nine months of 2018, consortia administration fees grew by 5.3% due to the higher volume. Installments receivable totaled R$12.3 billion at the end of September 2019, increasing by 5.8% from September 2018. Itaú Unibanco Holding S.A. 18 Management Discussion & Analysis Income Statement Analysis Loan Operations and Financial Guarantees Current Account Services Provided Revenues from current account services were up 3.2% from the previous quarter driven mainly by higher number of current-account Revenues from loan operations and financial guarantees provided holders. decreased by 8.3% from the previous quarter, driven by the lower Compared to the first nine months of 2018, these revenues volume of financial guarantees provided and the lower use of increased by 1.7% driven by the positive effect of the 9% increase in advances to deposit account holders. the number of current-account holders which was partially offset by the higher exemptions in current account types. Compared to the first nine months of 2018, these revenues were down by 1.9% driven by the lower volume of financial guarantees provided, which was partially offset by the higher revenues from loan New Accounts operations. Individuals accounts (in thousands) 1,108 1,088 1,010 Collection Services 276 Revenues from collection services increased by 2.0% compared to 165 the previous quarter, due to the higher volume, pricing, increased offer and expansion of collection services. 53 Compared to the first nine months of 2018, these revenues grew by 3Q17 3Q18 3Q19 2.9% driven by higher volume and pricing from payment of taxes and Abreconta App Brick and Mortar Branches contributions. Asset Management Advisory Services and Brokerage · Fund Management Higher capital market activity, which reflected both in investment banking and brokerage operations, led to the R$86 million increase in Fund management fees were higher by R$100 million in the quarter the quarter and 65.3% growth when compared to the first nine driven by the 9.7% increase in assets under administration. The months of 2018. positive effect driven by the higher number of business days in the quarter was offset by the lower revenues from the performance fees. Fixed Income: we took part in local operations with debentures, promissory notes and securitization, which totaled R$30.3 billion up Compared to the first nine months 2018, fund management fees to September 2019, maintaining the leadership position in the grew 18.5% driven by a 20.8% increase in assets under administration. ANBIMA(Brazilian Financial and Capital Markets Association) ranking. We highlight the 50.7% growth in the balance of funds distributed Equities: we undertook 16 offerings in South America in the first through our open investment platform initiative. nine months of 2019, which totaled US$2.0 billion, maintaining the leadership position in the Dealogic ranking. Managed Portfolio and Investment Funds R$ billions Mergers and Acquisitions: in the first nine months of 2019, we +9.7% +20.8% provided financial advisory on 28 transactions in South America, 1,290 totaling US$11.6 billion in the Dealogic ranking. 1,176 1,135 172 1,107 1,068 155 142 125 114 1,118 1,021 983 993 954 3Q18 4Q18 1Q19 2Q19 3Q19 Total Balance (ex- Open Platform) Open Platform Note: Does not include Latin America (ex-Brazil). · Consortia Administration Fees Consortia administration fees increased by 2.9% in the quarter, driven by the 4.1% increase in installments receivable. Compared to the nine months of 2018, consortia administration fees grew by 5.3% due to the higher volume. Installments receivable totaled R$12.3 billion at the end of September 2019, increasing by 5.8% from September 2018. Itaú Unibanco Holding S.A. 18

Insurance, Pension Plan and Premium Bonds Management Discussion and Analysis Result from Insurance, Pension Plan and Premium Bonds Highlights · Decrease in the Result from Insurance, Pension Plan and Premium Bonds Operations in the quarter, driven by the liability adequacy test carried out in the previous quarter and by the reductions in managerial financial margin and earnings of affiliates. · Compared to the first nine months of 2018, the increase in premiums earned and earnings of affiliates were partially offset by the liability adequacy test and lower managerial financial margin. Result from Insurance, Pension Plan and Premium Bonds D D D In R$ millions 3Q19 2Q19 3Q18 9M19 9M18 Earned Premiums 1,105 1,075 2.9% 1,025 7.8% 3,232 3,011 7.4% Revenues from Pension Plan 57 117 -51.6% 70 -18.4% 231 350 -33.8% Revenues from Premium Bonds 113 107 5.7% 105 7.9% 322 336 -4.2% Managerial Financial Margin (41) (0) - 15 - 52 212 -75.5% Commissions and Fees 556 515 7.9% 518 7.2% 1,561 1,523 2.5% Earnings of Affiliates 129 164 -21.0% 126 3.1% 417 324 28.4% Revenues from Insurance, Pension Plan and 1,920 1,978 -3.0% 1,858 3.3% 5,815 5,756 1.0% Premium Bonds Retained Claims (338) (297) 13.9% (320) 5.9% (935) (934) 0.1% Insurance Selling Expenses (6) (6) 6.7% (18) -67.4% (23) (55) -57.6% Result from Insurance, Pension Plan and 1,575 1,675 -6.0% 1,521 3.6% 4,857 4,767 1.9% Premium Bonds Recurring Net Income 627 680 -7.8% 591 6.2% 1,968 1,910 3.0% Insurance Combined Ratio 64.7% 61.5% 320 bps 63.9% 80 bps 63.8% 63.5% 30 bps The decrease in the result from insurance, pension plan and premium Compared to the first nine months of 2018, the 1.9% increase in the bonds operations in the quarter was driven by: (i) the pension plan result from insurance, pension plan and premium bonds operations liability adequacy test carried out in the previous quarter; (ii) the was due to higher earned premiums in credit life, protected card, life decrease in the managerial financial margin due to the lower return and personal accidents insurance policies. Additionally, earnings of on assets; (iii) the decrease in the earnings of affiliates in IRB and affiliates posted an increase. On the other hand, the liability adequacy Porto Seguro; and (iv) the increase in the life insurance retained test and the managerial financial margin were lower in the period. claims. These effects were partially offset by the increase in earned premiums both for life and credit-related insurance policies, and in commissions and fees. Earned Premiums Breakdown Retained Claims Breakdown R$ millions R$ millions 29.4% 26.7% 27.7% 26.4% 28.9% 1,075 1,025 1,045 1,052 1,105 320 299 297 338 9.2% 294 11.6% 10.7% 10.4% 9.3% 9.6% 9.4% 9.5% 9.2% 9.7% 1.4% 1.4% 26.1% 1.5% 1.4% 24.5% 1.6% 29.2% 34.5% 32.6% 16.7% 17.3% 17.6% 15.7% 16.2% 4.2% 4.9% 1.1% 3.8% 0.8% 2.4% 5.6% 1.4% 1.6% 10.6% 10.1% 14.5% 14.7% 15.1% 15.5% 15.6% 10.9% 9.1% 10.0% 13.2% 14.2% 13.4% 9.7% 13.2% 47.3% 47.2% 46.8% 47.0% 46.7% 46.4% 41.9% 41.3% 43.8% 39.6% 3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19 Life and Personal Accidents Protected Card Life and Personal Accidents Protected Card Credit Life Property risk Credit Life Property risk Mortgage Other Mortgage Other Insurance Claims/Earned Premiums Technical Provisions R$ billions 216.1 211.9 207.3 203.4 196.7 191.8 3.5 188.8 3.5 183.7 3.5 + 8.4% (vs. 3Q18) 3.4 3.6 3.5 7.2 Insurance 177.5 3.4 3.3 3.3 3.3 3.3 Premiums Bonds + 4.1% (vs. 3Q18) 42.8 158.1 154.8 151.6 149.0 R$211,9 + 6.7% (vs. 3Q18) 144.0 Traditional 138.1 140.4 133.9 130.2 billions 154.8 PGBL + 11.0% (vs. 3Q18) 42.8 43.5 41.7 + 9.8% (vs. 3Q18) 38.1 39.2 40.6 VGBL 37.7 36.9 33.9 6.6 6.8 6.6 7.0 7.2 7.3 6.5 7.0 6.6 3.3 3.5 3.6 3.2 3.1 3.4 3.4 3.6 3.6 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Itaú Unibanco Holding S.A. 19 Insurance, Pension Plan and Premium Bonds Management Discussion and Analysis Result from Insurance, Pension Plan and Premium Bonds Highlights · Decrease in the Result from Insurance, Pension Plan and Premium Bonds Operations in the quarter, driven by the liability adequacy test carried out in the previous quarter and by the reductions in managerial financial margin and earnings of affiliates. · Compared to the first nine months of 2018, the increase in premiums earned and earnings of affiliates were partially offset by the liability adequacy test and lower managerial financial margin. Result from Insurance, Pension Plan and Premium Bonds D D D In R$ millions 3Q19 2Q19 3Q18 9M19 9M18 Earned Premiums 1,105 1,075 2.9% 1,025 7.8% 3,232 3,011 7.4% Revenues from Pension Plan 57 117 -51.6% 70 -18.4% 231 350 -33.8% Revenues from Premium Bonds 113 107 5.7% 105 7.9% 322 336 -4.2% Managerial Financial Margin (41) (0) - 15 - 52 212 -75.5% Commissions and Fees 556 515 7.9% 518 7.2% 1,561 1,523 2.5% Earnings of Affiliates 129 164 -21.0% 126 3.1% 417 324 28.4% Revenues from Insurance, Pension Plan and 1,920 1,978 -3.0% 1,858 3.3% 5,815 5,756 1.0% Premium Bonds Retained Claims (338) (297) 13.9% (320) 5.9% (935) (934) 0.1% Insurance Selling Expenses (6) (6) 6.7% (18) -67.4% (23) (55) -57.6% Result from Insurance, Pension Plan and 1,575 1,675 -6.0% 1,521 3.6% 4,857 4,767 1.9% Premium Bonds Recurring Net Income 627 680 -7.8% 591 6.2% 1,968 1,910 3.0% Insurance Combined Ratio 64.7% 61.5% 320 bps 63.9% 80 bps 63.8% 63.5% 30 bps The decrease in the result from insurance, pension plan and premium Compared to the first nine months of 2018, the 1.9% increase in the bonds operations in the quarter was driven by: (i) the pension plan result from insurance, pension plan and premium bonds operations liability adequacy test carried out in the previous quarter; (ii) the was due to higher earned premiums in credit life, protected card, life decrease in the managerial financial margin due to the lower return and personal accidents insurance policies. Additionally, earnings of on assets; (iii) the decrease in the earnings of affiliates in IRB and affiliates posted an increase. On the other hand, the liability adequacy Porto Seguro; and (iv) the increase in the life insurance retained test and the managerial financial margin were lower in the period. claims. These effects were partially offset by the increase in earned premiums both for life and credit-related insurance policies, and in commissions and fees. Earned Premiums Breakdown Retained Claims Breakdown R$ millions R$ millions 29.4% 26.7% 27.7% 26.4% 28.9% 1,075 1,025 1,045 1,052 1,105 320 299 297 338 9.2% 294 11.6% 10.7% 10.4% 9.3% 9.6% 9.4% 9.5% 9.2% 9.7% 1.4% 1.4% 26.1% 1.5% 1.4% 24.5% 1.6% 29.2% 34.5% 32.6% 16.7% 17.3% 17.6% 15.7% 16.2% 4.2% 4.9% 1.1% 3.8% 0.8% 2.4% 5.6% 1.4% 1.6% 10.6% 10.1% 14.5% 14.7% 15.1% 15.5% 15.6% 10.9% 9.1% 10.0% 13.2% 14.2% 13.4% 9.7% 13.2% 47.3% 47.2% 46.8% 47.0% 46.7% 46.4% 41.9% 41.3% 43.8% 39.6% 3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19 Life and Personal Accidents Protected Card Life and Personal Accidents Protected Card Credit Life Property risk Credit Life Property risk Mortgage Other Mortgage Other Insurance Claims/Earned Premiums Technical Provisions R$ billions 216.1 211.9 207.3 203.4 196.7 191.8 3.5 188.8 3.5 183.7 3.5 + 8.4% (vs. 3Q18) 3.4 3.6 3.5 7.2 Insurance 177.5 3.4 3.3 3.3 3.3 3.3 Premiums Bonds + 4.1% (vs. 3Q18) 42.8 158.1 154.8 151.6 149.0 R$211,9 + 6.7% (vs. 3Q18) 144.0 Traditional 138.1 140.4 133.9 130.2 billions 154.8 PGBL + 11.0% (vs. 3Q18) 42.8 43.5 41.7 + 9.8% (vs. 3Q18) 38.1 39.2 40.6 VGBL 37.7 36.9 33.9 6.6 6.8 6.6 7.0 7.2 7.3 6.5 7.0 6.6 3.3 3.5 3.6 3.2 3.1 3.4 3.4 3.6 3.6 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Itaú Unibanco Holding S.A. 19

Management Discussion & Analysis Income Statement Analysis Non-interest Expenses Highlights · The continuous technology investment allowed some cost efficiency actions, such as brick and mortar branches closures and the voluntary severance program, that led to the 1.0% increase in non-interest expenses from the previous quarter, even with the impact of the collective wage agreement. · Compared to the nine first months of 2018, non-interest expenses increased 2.8%, lower than the inflation rate in the period (2.9% - IPCA). This increase was driven by higher personnel expenses, related to the collective wage agreement, higher volume of employee terminations, and higher administrative expenses, mainly with third-party services and data processing. In R$ millions 3Q19 2Q19 D 3Q18 D 9M19 9M18 D Personnel Expenses (5,634) (5,545) 1.6% (5,405) 4.2% (16,480) (15,682) 5.1% Compensation, Charges and Social Benefits (3,592) (3,517) 2.1% (3,643) -1.4% ( 10,688) (10,588) 1.0% (1) (1,395) (1,260) 10.7% (1,214) 14.9% (3,919) (3,431) 14.2% Management and Employees' Profit Sharing Employee Terminations and Labor Claims (616) (733) -15.9% ( 493) 24.9% (1,761) (1,509) 16.7% Training (31) (36) -11.8% (55) -43.4% ( 112) (154) -27.6% Administrative Expenses (4,169) (4,234) -1.5% (4,173) -0.1% (12,516) (12,206) 2.5% Third-Party Services (1,075) (1,071) 0.4% (1,018) 5.6% (3,153) (2,953) 6.8% Data Processing and Telecommunications (952) (971) -1.9% (916) 3.9% (2,880) (2,670) 7.9% Facilities and Materials (726) (760) -4.4% (748) -2.9% (2,224) (2,216) 0.4% Depreciation and Amortization (556) (544) 2.1% ( 502) 10.7% (1,634) (1,576) 3.7% Advertising, Promotions and Publications ( 274) (312) -12.4% (376) -27.3% ( 846) (981) -13.7% Security (167) (171) -2.2% (166) 0.5% ( 513) (508) 1.0% Financial System Services (137) (131) 4.5% ( 139) -1.0% ( 419) (430) -2.5% Transportation and Travel (133) (148) -9.7% (133) 0.6% ( 407) (380) 7.1% Other (147) (126) 17.0% ( 174) -15.5% ( 438) (492) -11.0% Operating Expenses (1,300) (1,179) 10.3% (1,264) 2.8% (3,560) (3,662) -2.8% Selling - Credit Cards (627) (644) -2.5% ( 568) 10.4% (1,886) (1,668) 13.1% Contingencies and Other (567) (437) 29.7% ( 606) -6.3% (1,369) (1,752) -21.8% Claims (105) (98) 8.0% (90) 16.5% ( 305) (242) 26.1% (2) (84) (95) -11.7% (82) 1.9% ( 263) (239) 10.0% Other Tax Expenses (3) Latin America (ex-Brazil) (1,610) (1,616) -0.4% (1,721) -6.4% (4,796) (4,795) 0.0% Total (12,796) (12,669) 1.0% (12,646) 1.2% (37,615) (36,583) 2.8% (1) (2) (3) Includes variable compensation and stock option plans. Does not include ISS, PIS and Cofins. Does not consider overhead allocation. The brick and mortar branches closures in the previous quarter, the Compared to the first nine months of 2018, the 2.8% increase was voluntary severance program impact in the number of employees in driven by: (i) higher personnel expenses, driven by the impact of the quarter and the reduction in administrative expenses, especially the collective wage agreement, the tariff adjustment carried out by related to marketing campaigns and facilities, absorbed much of the healthcare plan operators, the increase in the number of employee collective wage agreement effects in non-interest expenses in the terminations and labor claims, and the advances on profit sharing quarter. The sum of these effects led to the increase of only 1.0% of as a result of retirements and terminations; and (ii) higher total expenses in the quarter. administrative expenses mainly on third-party services and data processing, partially offset by lower expenses on marketing campaigns. Compared to the same period of the previous year, the increase in non-interest expenses was lower than the inflation rate in the period (2.9% - IPCA). Number of Employees - in thousands 96.8 thousand 100.8 100.3 99.7 98.4 96.8 employees at the end of the 3Q19 13.1 13.0 12.9 12.7 12.7 0.6 0.6 0.5 0.5 0.5 - 1.7% (3Q19/2Q19) - 4.0% (3Q19/3Q18) 87.1 86.8 86.2 85.2 83.5 Committed to speed up our digital transformation process, we hired more personnel for the technology area. Nevertheless, the number of employees decreased in the last 12 months as a result of the Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 voluntary severance program and the closing of brick and mortar branches. Brazil Abroad (ex-Latin America) Latin America Note: Includes the employees of companies controlled by the Bank. Itaú Unibanco Holding S.A. 20 Management Discussion & Analysis Income Statement Analysis Non-interest Expenses Highlights · The continuous technology investment allowed some cost efficiency actions, such as brick and mortar branches closures and the voluntary severance program, that led to the 1.0% increase in non-interest expenses from the previous quarter, even with the impact of the collective wage agreement. · Compared to the nine first months of 2018, non-interest expenses increased 2.8%, lower than the inflation rate in the period (2.9% - IPCA). This increase was driven by higher personnel expenses, related to the collective wage agreement, higher volume of employee terminations, and higher administrative expenses, mainly with third-party services and data processing. In R$ millions 3Q19 2Q19 D 3Q18 D 9M19 9M18 D Personnel Expenses (5,634) (5,545) 1.6% (5,405) 4.2% (16,480) (15,682) 5.1% Compensation, Charges and Social Benefits (3,592) (3,517) 2.1% (3,643) -1.4% ( 10,688) (10,588) 1.0% (1) (1,395) (1,260) 10.7% (1,214) 14.9% (3,919) (3,431) 14.2% Management and Employees' Profit Sharing Employee Terminations and Labor Claims (616) (733) -15.9% ( 493) 24.9% (1,761) (1,509) 16.7% Training (31) (36) -11.8% (55) -43.4% ( 112) (154) -27.6% Administrative Expenses (4,169) (4,234) -1.5% (4,173) -0.1% (12,516) (12,206) 2.5% Third-Party Services (1,075) (1,071) 0.4% (1,018) 5.6% (3,153) (2,953) 6.8% Data Processing and Telecommunications (952) (971) -1.9% (916) 3.9% (2,880) (2,670) 7.9% Facilities and Materials (726) (760) -4.4% (748) -2.9% (2,224) (2,216) 0.4% Depreciation and Amortization (556) (544) 2.1% ( 502) 10.7% (1,634) (1,576) 3.7% Advertising, Promotions and Publications ( 274) (312) -12.4% (376) -27.3% ( 846) (981) -13.7% Security (167) (171) -2.2% (166) 0.5% ( 513) (508) 1.0% Financial System Services (137) (131) 4.5% ( 139) -1.0% ( 419) (430) -2.5% Transportation and Travel (133) (148) -9.7% (133) 0.6% ( 407) (380) 7.1% Other (147) (126) 17.0% ( 174) -15.5% ( 438) (492) -11.0% Operating Expenses (1,300) (1,179) 10.3% (1,264) 2.8% (3,560) (3,662) -2.8% Selling - Credit Cards (627) (644) -2.5% ( 568) 10.4% (1,886) (1,668) 13.1% Contingencies and Other (567) (437) 29.7% ( 606) -6.3% (1,369) (1,752) -21.8% Claims (105) (98) 8.0% (90) 16.5% ( 305) (242) 26.1% (2) (84) (95) -11.7% (82) 1.9% ( 263) (239) 10.0% Other Tax Expenses (3) Latin America (ex-Brazil) (1,610) (1,616) -0.4% (1,721) -6.4% (4,796) (4,795) 0.0% Total (12,796) (12,669) 1.0% (12,646) 1.2% (37,615) (36,583) 2.8% (1) (2) (3) Includes variable compensation and stock option plans. Does not include ISS, PIS and Cofins. Does not consider overhead allocation. The brick and mortar branches closures in the previous quarter, the Compared to the first nine months of 2018, the 2.8% increase was voluntary severance program impact in the number of employees in driven by: (i) higher personnel expenses, driven by the impact of the quarter and the reduction in administrative expenses, especially the collective wage agreement, the tariff adjustment carried out by related to marketing campaigns and facilities, absorbed much of the healthcare plan operators, the increase in the number of employee collective wage agreement effects in non-interest expenses in the terminations and labor claims, and the advances on profit sharing quarter. The sum of these effects led to the increase of only 1.0% of as a result of retirements and terminations; and (ii) higher total expenses in the quarter. administrative expenses mainly on third-party services and data processing, partially offset by lower expenses on marketing campaigns. Compared to the same period of the previous year, the increase in non-interest expenses was lower than the inflation rate in the period (2.9% - IPCA). Number of Employees - in thousands 96.8 thousand 100.8 100.3 99.7 98.4 96.8 employees at the end of the 3Q19 13.1 13.0 12.9 12.7 12.7 0.6 0.6 0.5 0.5 0.5 - 1.7% (3Q19/2Q19) - 4.0% (3Q19/3Q18) 87.1 86.8 86.2 85.2 83.5 Committed to speed up our digital transformation process, we hired more personnel for the technology area. Nevertheless, the number of employees decreased in the last 12 months as a result of the Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 voluntary severance program and the closing of brick and mortar branches. Brazil Abroad (ex-Latin America) Latin America Note: Includes the employees of companies controlled by the Bank. Itaú Unibanco Holding S.A. 20

Management Discussion & Analysis Income Statement Analysis Efficiency Ratio We present the efficiency ratio and the risk-adjusted efficiency ratio, which includes the cost of credit (result from loan losses, impairment and discounts granted). 65.7 61.3 63.3 61.4 60.8 61.0 61.7 60.9 60.9 48.8 45.5 47.3 49.2 47.1 48.7 46.3 45.9 46.2 65.0 64.2 63.3 62.7 61.2 61.2 61.2 62.2 61.2 47.0 47.7 47.6 47.7 46.4 47.4 47.5 45.3 46.6 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Trailing 12-month Efficiency Ratio (%) Trailing 12-month Risk-Adjusted Efficiency Ratio (%) Quarterly Efficiency Ratio (%) Quarterly Risk-Adjusted Efficiency Ratio (%) Efficiency Ratio: Branches Efficiency Ratio (%): · 12-month period: decrease of 110 basis points from the same period of the previous year. Our non-interest expenses increased 74.8 2.3%, whereas inflation for the period was 2.9% (IPCA). Additionally, 70.5 70.0 69.5 68.9 63.3 our revenues increased 4.7%. 27.5 26.3 26.5 26.5 26.6 25.6 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Risk-Adjusted Eciency ffi Ratio: Brick and Mortar Branches Digital Branches · 12-month period: decrease of 100 basis points from the same period of the previous year. The increase in revenues more than offset the increase in expenses and cost of credit. Distribution Network Branches and Client Service Branches | Brazil and Abroad Points of Service | Brazil and Abroad The number of available ATMs of Banco24Horas increased by 3.3% The search for efficiency and the higher demand for services from the same period of the previous year, driven by the agreement through digital channels led to the annual decrease of 5.7% in with Tecban establishing the replacement of our external ATMs physical branches in Brazil. In Latin America, we launched two network. digital branches in the year, one in Paraguay and one in Uruguay. 4,917 4,940 4,934 4,722 4,704 195 173 195 196 48,476 196 47,887 47,953 47,505 47,518 3 3,531 3,530 3,527 3,332 3,330 23,049 22,431 22,605 23,053 23,173 700 703 691 686 675 1,175 1,169 1,175 513 512 521 508 503 1,162 1,167 592 589 598 584 585 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Branches + CSB (Latin America ex-Brazil) CSB - Brazil 23,680 23,660 23,590 22,701 22,598 (i) Brick and Mortar Branches - Brazil Digital Branches - Brazil (i) Includes IBBA representative offices abroad. Note: Includes Banco Itaú BBA, Banco Itaú Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Argentina and companies in Chile, Colombia, Panama, Paraguay and Uruguay. Brazil ESB Latin America Banco24Horas Third Party Locations (*) Geographical Distribution of Service Network Number of Branches and Client Service Branches North Northeast Midwest Southeast South Note: (i) Includes Banco Itaú Argentina and banks in Chile, Colombia, Paraguay and Uruguay; (ii) Includes ESBs (Electronic Service Branches) and points of service in third- 109 314 298 2,835 631 parties’ establishments. (iii) Does not include points of sale. (*) In September 2019. Does not include branches and CSBs in Latin America and Itaú BBA. Itaú Unibanco Holding S.A. 21 Management Discussion & Analysis Income Statement Analysis Efficiency Ratio We present the efficiency ratio and the risk-adjusted efficiency ratio, which includes the cost of credit (result from loan losses, impairment and discounts granted). 65.7 61.3 63.3 61.4 60.8 61.0 61.7 60.9 60.9 48.8 45.5 47.3 49.2 47.1 48.7 46.3 45.9 46.2 65.0 64.2 63.3 62.7 61.2 61.2 61.2 62.2 61.2 47.0 47.7 47.6 47.7 46.4 47.4 47.5 45.3 46.6 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Trailing 12-month Efficiency Ratio (%) Trailing 12-month Risk-Adjusted Efficiency Ratio (%) Quarterly Efficiency Ratio (%) Quarterly Risk-Adjusted Efficiency Ratio (%) Efficiency Ratio: Branches Efficiency Ratio (%): · 12-month period: decrease of 110 basis points from the same period of the previous year. Our non-interest expenses increased 74.8 2.3%, whereas inflation for the period was 2.9% (IPCA). Additionally, 70.5 70.0 69.5 68.9 63.3 our revenues increased 4.7%. 27.5 26.3 26.5 26.5 26.6 25.6 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 Risk-Adjusted Eciency ffi Ratio: Brick and Mortar Branches Digital Branches · 12-month period: decrease of 100 basis points from the same period of the previous year. The increase in revenues more than offset the increase in expenses and cost of credit. Distribution Network Branches and Client Service Branches | Brazil and Abroad Points of Service | Brazil and Abroad The number of available ATMs of Banco24Horas increased by 3.3% The search for efficiency and the higher demand for services from the same period of the previous year, driven by the agreement through digital channels led to the annual decrease of 5.7% in with Tecban establishing the replacement of our external ATMs physical branches in Brazil. In Latin America, we launched two network. digital branches in the year, one in Paraguay and one in Uruguay. 4,917 4,940 4,934 4,722 4,704 195 173 195 196 48,476 196 47,887 47,953 47,505 47,518 3 3,531 3,530 3,527 3,332 3,330 23,049 22,431 22,605 23,053 23,173 700 703 691 686 675 1,175 1,169 1,175 513 512 521 508 503 1,162 1,167 592 589 598 584 585 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Branches + CSB (Latin America ex-Brazil) CSB - Brazil 23,680 23,660 23,590 22,701 22,598 (i) Brick and Mortar Branches - Brazil Digital Branches - Brazil (i) Includes IBBA representative offices abroad. Note: Includes Banco Itaú BBA, Banco Itaú Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Argentina and companies in Chile, Colombia, Panama, Paraguay and Uruguay. Brazil ESB Latin America Banco24Horas Third Party Locations (*) Geographical Distribution of Service Network Number of Branches and Client Service Branches North Northeast Midwest Southeast South Note: (i) Includes Banco Itaú Argentina and banks in Chile, Colombia, Paraguay and Uruguay; (ii) Includes ESBs (Electronic Service Branches) and points of service in third- 109 314 298 2,835 631 parties’ establishments. (iii) Does not include points of sale. (*) In September 2019. Does not include branches and CSBs in Latin America and Itaú BBA. Itaú Unibanco Holding S.A. 21

Management Discussion & Analysis Balance Sheet Balance Sheet Highlights · Increase of 3.6% in total assets in the quarter and of 7.8% in 12 months, led by a 4.2% increase in loan portfolio and a 7.8% increase in securities and derivatives. · Annual growth of 8.0% in deposits, especially time deposits, due to the partial migration of funds derived from repurchase agreements backed by debentures. Assets In R$ millions, end of period 3Q19 2Q19 3Q18 D'D' Current and Long-term Assets 1,703,925 1,644,066 3.6% 1,578,127 8.0% Cash 27,721 33,242 -16.6% 29,467 -5.9% Interbank Investments 274,139 284,781 -3.7% 320,965 -14.6% Securities and Derivative Financial Instruments 510,656 473,608 7.8% 428,260 19.2% Interbank and Interbranch Accounts 131,052 134,741 -2.7% 125,987 4.0% Loan, Lease and Other Loan Operations 576,020 552,909 4.2% 530,520 8.6% (Allowance for Loan Losses) (33,467) (31,952) 4.7% (34,227) -2.2% Other Assets 217,805 196,738 10.7% 177,155 22.9% Permanent Assets 34,414 34,312 0.3% 35,034 -1.8% Total Assets 1,738,339 1,678,378 3.6% 1,613,162 7.8% Liabilities In R$ millions, end of period 3Q19 2Q19 3Q18 D'D' Current and Long-Term Liabilities 1,597,176 1,537,520 3.9% 1,471,863 8.5% Deposits 490,838 463,259 6.0% 454,552 8.0% Deposits Received under Securities Repurchase Agreements 296,503 316,543 -6.3% 314,575 -5.7% Fund from Acceptances and Issue of Securities 130,883 125,336 4.4% 118,684 10.3% Interbank and Interbranch Accounts 60,317 55,243 9.2% 49,129 22.8% Borrowings and Onlendings 77,770 72,788 6.8% 67,258 15.6% Derivative Financial Instruments 47,441 35,655 33.1% 31,827 49.1% Technical Provisions for Insurance, Pension Plans and Premium Bonds 216,060 211,905 2.0% 196,748 9.8% Other Liabilities 277,364 256,790 8.0% 239,090 16.0% Deferred Income 2,632 2,606 1.0% 2,603 1.1% Minority Interest in Subsidiaries 12,812 12,515 2.4% 13,661 -6.2% Stockholders' Equity 125,719 125,737 0.0% 125,035 0.5% Total Liabilities and Equity 1,738,339 1,678,378 3.6% 1,613,162 7.8% Assets and liabilities denominated in foreign currencies We have a foreign exchange risk management policy associated with our asset and liability positions, primarily intended to mitigate impacts from fluctuations in foreign exchange rates on consolidated results. Brazilian tax legislation determines that gains and losses from exchange rate variation on permanent foreign investments must not be included in the tax basis. On the other hand, gains and losses arising from financial instruments used to hedge such asset positions are affected by tax effects. Therefore, in order not to expose net income to exchange rate variations, a liability position must be built at a higher volume than the hedged assets. In R$ millions, end of period 3Q19 2Q19D' The net foreign exchange position includes Investments Abroad 79,911 73,937 8.1% not only hedge positions of our Net Foreign Exchange Position (Except Investments Abroad) (134,589) (124,037) 8.5% investments abroad, but also directional Total (54,678) (50,101) 9.1% positions in foreign currencies. Total in US$ (13,130) (13,074) 0.4% Itaú Itaú U Un nib iban anc co o H Ho old lding ing S. S.A. A. 22 Management Discussion & Analysis Balance Sheet Balance Sheet Highlights · Increase of 3.6% in total assets in the quarter and of 7.8% in 12 months, led by a 4.2% increase in loan portfolio and a 7.8% increase in securities and derivatives. · Annual growth of 8.0% in deposits, especially time deposits, due to the partial migration of funds derived from repurchase agreements backed by debentures. Assets In R$ millions, end of period 3Q19 2Q19 3Q18 D'D' Current and Long-term Assets 1,703,925 1,644,066 3.6% 1,578,127 8.0% Cash 27,721 33,242 -16.6% 29,467 -5.9% Interbank Investments 274,139 284,781 -3.7% 320,965 -14.6% Securities and Derivative Financial Instruments 510,656 473,608 7.8% 428,260 19.2% Interbank and Interbranch Accounts 131,052 134,741 -2.7% 125,987 4.0% Loan, Lease and Other Loan Operations 576,020 552,909 4.2% 530,520 8.6% (Allowance for Loan Losses) (33,467) (31,952) 4.7% (34,227) -2.2% Other Assets 217,805 196,738 10.7% 177,155 22.9% Permanent Assets 34,414 34,312 0.3% 35,034 -1.8% Total Assets 1,738,339 1,678,378 3.6% 1,613,162 7.8% Liabilities In R$ millions, end of period 3Q19 2Q19 3Q18 D'D' Current and Long-Term Liabilities 1,597,176 1,537,520 3.9% 1,471,863 8.5% Deposits 490,838 463,259 6.0% 454,552 8.0% Deposits Received under Securities Repurchase Agreements 296,503 316,543 -6.3% 314,575 -5.7% Fund from Acceptances and Issue of Securities 130,883 125,336 4.4% 118,684 10.3% Interbank and Interbranch Accounts 60,317 55,243 9.2% 49,129 22.8% Borrowings and Onlendings 77,770 72,788 6.8% 67,258 15.6% Derivative Financial Instruments 47,441 35,655 33.1% 31,827 49.1% Technical Provisions for Insurance, Pension Plans and Premium Bonds 216,060 211,905 2.0% 196,748 9.8% Other Liabilities 277,364 256,790 8.0% 239,090 16.0% Deferred Income 2,632 2,606 1.0% 2,603 1.1% Minority Interest in Subsidiaries 12,812 12,515 2.4% 13,661 -6.2% Stockholders' Equity 125,719 125,737 0.0% 125,035 0.5% Total Liabilities and Equity 1,738,339 1,678,378 3.6% 1,613,162 7.8% Assets and liabilities denominated in foreign currencies We have a foreign exchange risk management policy associated with our asset and liability positions, primarily intended to mitigate impacts from fluctuations in foreign exchange rates on consolidated results. Brazilian tax legislation determines that gains and losses from exchange rate variation on permanent foreign investments must not be included in the tax basis. On the other hand, gains and losses arising from financial instruments used to hedge such asset positions are affected by tax effects. Therefore, in order not to expose net income to exchange rate variations, a liability position must be built at a higher volume than the hedged assets. In R$ millions, end of period 3Q19 2Q19D' The net foreign exchange position includes Investments Abroad 79,911 73,937 8.1% not only hedge positions of our Net Foreign Exchange Position (Except Investments Abroad) (134,589) (124,037) 8.5% investments abroad, but also directional Total (54,678) (50,101) 9.1% positions in foreign currencies. Total in US$ (13,130) (13,074) 0.4% Itaú Itaú U Un nib iban anc co o H Ho old lding ing S. S.A. A. 22

Management Discussion & Analysis Balance Sheet Credit Portfolio Highlights · The loan portfolio of individuals grew 3.4% in the quarter, boosted by credit card, personal and vehicle loans. · The companies portfolio in Brazil grew 6.3% in the quarter, due to a greater demand from credit from very small, small and middle-market clients. Credit Portfolio by Product In R$ billions, end of period 3Q19 2Q19 D 3Q18 D (1) Individuals - Brazil 229.0 221.5 3.4% 199.1 15.0% Credit Card Loans 83.3 79.3 5.1% 68.7 21.4% Personal Loans 33.4 31.9 4.7% 27.9 19.8% (2) Payroll Loans 49.3 49.1 0.5% 46.0 7.4% Vehicle Loans 18.0 17.2 4.5% 15.2 18.0% Mortgage Loans 44.8 44.0 2.0% 41.2 8.7% Rural Loans 0.1 0.1 -1.1% 0.1 -18.4% (1) Companies - Brazil 188.1 177.0 6.3% 171.2 9.9% (3) Working Capital 103.7 96.3 7.7% 87.6 18.4% BNDES/Onlending 12.2 13.6 -10.1% 18.0 -32.0% Export / Import Financing 49.7 44.9 10.5% 46.1 7.8% Vehicle Loans 7.3 6.0 20.9% 3.6 104.4% Mortgage Loans 4.9 5.3 -6.5% 6.7 -26.6% Rural Loans 10.3 10.9 -5.6% 9.3 10.9% (4) Latin America 158.9 154.3 3.0% 160.2 -0.8% Total without Financial Guarantees Provided 576.0 552.9 4.2% 530.5 8.6% Financial Guarantees Provided 65.7 64.7 1.6% 69.6 -5.6% Total with Financial Guarantees Provided 641.7 617.6 3.9% 600.1 6.9% (5) Corporate Securities 47.3 42.2 12.1% 36.3 30.1% Total Risk 689.0 659.7 4.4% 636.4 8.3% (1) Includes units abroad ex-Latin America. (2) Includes operations originated by the institution and acquired operations. (3) Also includes Overdraft, Receivables, Hot Money, Leasing, and other. (4) Includes Argentina, Chile, Colombia, Panama, Paraguay and Uruguay. (5) Includes Debentures, Certificates of Real Estate Receivables (CRI) and Commercial Paper. Credit Concentration Companies Credit Portfolio by Business Sector With Financial Guarantees Provided As of September 30, 2019 3Q19 2Q19 In R$ billions, end of period D Only 15.4% of the credit risk is concentrated on the 100 largest debtors. Public Sector 2.2 2.3 -5.2% Private Sector 346 .3 331.8 4.4% % of total % of total * Risk Real Estate 22.8 22.1 3.4% In R$ billions credits Assets Food and beverage 20.3 20.6 -1.6% Largest Debtor 5.7 0.9 0.3 10 Largest Debtors 29.1 4.5 1.7 Transportation 19.3 17.7 9.2% 20 Largest Debtors 44.3 6.9 2 .5 Agribusiness and fertilizers 18.8 18.6 1.2% 50 Largest Debtors 72.2 11.2 4.2 Energy and water treatment 15.8 15.8 -0.3% 100 Largest Debtors 99.1 15.4 5 .7 Vehicles and auto parts 15.1 14.8 1.7% (*) Including financial guarantees provided Banks and other financial institutions 14.2 12.3 15.4% Infrastructure work 12.3 11.8 4.4% Credit Portfolio without Financial Petrochemical and chemical 12.1 11.1 9.1% Guarantees Provided by Vintage Steel and metallurgy 9.6 9.6 -0.2% In R$ billions Telecommunications 9.1 9.1 -0.2% Mining 8.8 8.9 -1.0% 553 576 531 Pharmaceutical and cosmetics 8.2 8.0 3.5% Electronic and IT 7.3 6.7 9.0% 34.8% 34.3% 38.8% Capital Assets 6.9 6.7 4.1% Oil and gas 6.8 6.8 -0.7% 5.1% 4.5% 4.5% 6.4% 6.4% Construction Material 6.5 6.0 8.6% 6.4% 7.1% 8.0% 7.6% Entertainment and tourism 5.8 5.5 4.2% 12.2% 10.0% 11.1% Sugar and Alcohol 5.1 5.6 -9.5% Services - Other 44.3 43.0 3.1% 35.7% 35.5% 31.5% Commerce - Other 23.1 20.5 12.6% Industry - Other 10.3 9.6 7.6% 3Q18 2Q19 3Q19 Other 43.8 41.0 6.7% Actual Quarter (q) q-1 q-2 q-3 q-4 q=<-5 Total 348.5 334.1 4.3% Itaú Unibanco Holding S.A. 23 Management Discussion & Analysis Balance Sheet Credit Portfolio Highlights · The loan portfolio of individuals grew 3.4% in the quarter, boosted by credit card, personal and vehicle loans. · The companies portfolio in Brazil grew 6.3% in the quarter, due to a greater demand from credit from very small, small and middle-market clients. Credit Portfolio by Product In R$ billions, end of period 3Q19 2Q19 D 3Q18 D (1) Individuals - Brazil 229.0 221.5 3.4% 199.1 15.0% Credit Card Loans 83.3 79.3 5.1% 68.7 21.4% Personal Loans 33.4 31.9 4.7% 27.9 19.8% (2) Payroll Loans 49.3 49.1 0.5% 46.0 7.4% Vehicle Loans 18.0 17.2 4.5% 15.2 18.0% Mortgage Loans 44.8 44.0 2.0% 41.2 8.7% Rural Loans 0.1 0.1 -1.1% 0.1 -18.4% (1) Companies - Brazil 188.1 177.0 6.3% 171.2 9.9% (3) Working Capital 103.7 96.3 7.7% 87.6 18.4% BNDES/Onlending 12.2 13.6 -10.1% 18.0 -32.0% Export / Import Financing 49.7 44.9 10.5% 46.1 7.8% Vehicle Loans 7.3 6.0 20.9% 3.6 104.4% Mortgage Loans 4.9 5.3 -6.5% 6.7 -26.6% Rural Loans 10.3 10.9 -5.6% 9.3 10.9% (4) Latin America 158.9 154.3 3.0% 160.2 -0.8% Total without Financial Guarantees Provided 576.0 552.9 4.2% 530.5 8.6% Financial Guarantees Provided 65.7 64.7 1.6% 69.6 -5.6% Total with Financial Guarantees Provided 641.7 617.6 3.9% 600.1 6.9% (5) Corporate Securities 47.3 42.2 12.1% 36.3 30.1% Total Risk 689.0 659.7 4.4% 636.4 8.3% (1) Includes units abroad ex-Latin America. (2) Includes operations originated by the institution and acquired operations. (3) Also includes Overdraft, Receivables, Hot Money, Leasing, and other. (4) Includes Argentina, Chile, Colombia, Panama, Paraguay and Uruguay. (5) Includes Debentures, Certificates of Real Estate Receivables (CRI) and Commercial Paper. Credit Concentration Companies Credit Portfolio by Business Sector With Financial Guarantees Provided As of September 30, 2019 3Q19 2Q19 In R$ billions, end of period D Only 15.4% of the credit risk is concentrated on the 100 largest debtors. Public Sector 2.2 2.3 -5.2% Private Sector 346 .3 331.8 4.4% % of total % of total * Risk Real Estate 22.8 22.1 3.4% In R$ billions credits Assets Food and beverage 20.3 20.6 -1.6% Largest Debtor 5.7 0.9 0.3 10 Largest Debtors 29.1 4.5 1.7 Transportation 19.3 17.7 9.2% 20 Largest Debtors 44.3 6.9 2 .5 Agribusiness and fertilizers 18.8 18.6 1.2% 50 Largest Debtors 72.2 11.2 4.2 Energy and water treatment 15.8 15.8 -0.3% 100 Largest Debtors 99.1 15.4 5 .7 Vehicles and auto parts 15.1 14.8 1.7% (*) Including financial guarantees provided Banks and other financial institutions 14.2 12.3 15.4% Infrastructure work 12.3 11.8 4.4% Credit Portfolio without Financial Petrochemical and chemical 12.1 11.1 9.1% Guarantees Provided by Vintage Steel and metallurgy 9.6 9.6 -0.2% In R$ billions Telecommunications 9.1 9.1 -0.2% Mining 8.8 8.9 -1.0% 553 576 531 Pharmaceutical and cosmetics 8.2 8.0 3.5% Electronic and IT 7.3 6.7 9.0% 34.8% 34.3% 38.8% Capital Assets 6.9 6.7 4.1% Oil and gas 6.8 6.8 -0.7% 5.1% 4.5% 4.5% 6.4% 6.4% Construction Material 6.5 6.0 8.6% 6.4% 7.1% 8.0% 7.6% Entertainment and tourism 5.8 5.5 4.2% 12.2% 10.0% 11.1% Sugar and Alcohol 5.1 5.6 -9.5% Services - Other 44.3 43.0 3.1% 35.7% 35.5% 31.5% Commerce - Other 23.1 20.5 12.6% Industry - Other 10.3 9.6 7.6% 3Q18 2Q19 3Q19 Other 43.8 41.0 6.7% Actual Quarter (q) q-1 q-2 q-3 q-4 q=<-5 Total 348.5 334.1 4.3% Itaú Unibanco Holding S.A. 23

Management Discussion & Analysis Balance Sheet 1 Credit Portfolio (Individuals and Companies) - Brazil Loan Portfolio Mix - Individuals Loan Portfolio Mix - Companies Sep-19 7.9% 36.4% 14.6% 19.6% 21.6% Sep-19 42.7% 57.3% Sep-14 17.6% 30.5% 15.8% 15.5% 20.5% Sep-14 33.6% 66.4% Very Small, Small and Middle Market Loans Corporate Loans Vehicles Credit Card Personal Loans Mortgage Loans Payroll Loans 2 Payroll Loans Mortgage loans Corporate R$49.3 billion as of September 30, 2019 R$49.8 billion as of September 30, 2019 R$107.8 billion as of September 30, 2019 + 0.5% (vs. Jun-19) + 7.4% (vs. Sep-18) + 1.1% (vs. Jun-19) + 3.8% (vs. Sep-18) + 5.6% (vs. Jun-19) + 1.3% (vs. Sep-18) The payroll loans portfolio for INSS 90% of the mortgage portfolio is Individuals pensioners grew 9.8% compared to the In the third quarter the large companies same period of the previous year. 99.9% guaranteed by fiduciary alienation portfolio decreased 5.6%. 3 The origination of credit grew 25% when compared to the same period of the Portfolio 3Q19 Originations in 3Q19 previous year, in operations with short 78.1% of total credit mortgage is done maturities. By Sector By origination by borrowers (%) (R$ billions) R$4.2 billion + 21.5% (vs. 3Q18) 6.2 4.2 43% 57% Loan-to-Value 39.0 Ratio of the amount of the financing to the value of the real estate property Branches INSS Itaú Consignado S.A. Public Sector Vintage (quarterly average) Portfolio Private Sector 60.6% 38.8% Credit Cards Vehicle Financing Very Small, Small and Middle Market R$80.4 billion as of September 30, 2019 R$83.3 billion as of September 30, 2019 R$18.0 billion as of September 30, 2019 + 5.1% (vs. Jun-19) + 21.4% (vs. Sep-18) + 4.5% (vs. Jun-19) + 18.0% (vs. Sep-18) + 7.1% (vs. Jun-19) + 23. 9% (vs. Sep-18) In the third quarter of 2019, the 8.7% 9.4% 9.9% 3 origination of credits for very small, small 8.5% 9.7% 9.6% Originations in 3Q19 and middle-market companies increased R$3.2 billion + 15.9% (vs. 3Q18) 34% from the previous year. 82.8% 80.9% 80.5% Average Term % Average Average Ticket Down Payment 43 months R$35.8 thousand 38% Sep-18 Jun-19 Sep-19 Revolving Credit + Overdue Loans¹ Loan-to-Value Installment with Interest Transactor² Vintage (quarterly average) Portfolio 58.1% 59.4% (1) Includes nonperforming loans more than 1 day overdue; (2) includes installment without interest. (1) (2) (3) Without financial guarantees provided. Includes Individuals and Companies. Average origination per working day in the quarter. Note: For further information on products, please see to our Institutional Presentation, available on our Investor Relations website. Itaú Unibanco Holding S.A. 24 Management Discussion & Analysis Balance Sheet 1 Credit Portfolio (Individuals and Companies) - Brazil Loan Portfolio Mix - Individuals Loan Portfolio Mix - Companies Sep-19 7.9% 36.4% 14.6% 19.6% 21.6% Sep-19 42.7% 57.3% Sep-14 17.6% 30.5% 15.8% 15.5% 20.5% Sep-14 33.6% 66.4% Very Small, Small and Middle Market Loans Corporate Loans Vehicles Credit Card Personal Loans Mortgage Loans Payroll Loans 2 Payroll Loans Mortgage loans Corporate R$49.3 billion as of September 30, 2019 R$49.8 billion as of September 30, 2019 R$107.8 billion as of September 30, 2019 + 0.5% (vs. Jun-19) + 7.4% (vs. Sep-18) + 1.1% (vs. Jun-19) + 3.8% (vs. Sep-18) + 5.6% (vs. Jun-19) + 1.3% (vs. Sep-18) The payroll loans portfolio for INSS 90% of the mortgage portfolio is Individuals pensioners grew 9.8% compared to the In the third quarter the large companies same period of the previous year. 99.9% guaranteed by fiduciary alienation portfolio decreased 5.6%. 3 The origination of credit grew 25% when compared to the same period of the Portfolio 3Q19 Originations in 3Q19 previous year, in operations with short 78.1% of total credit mortgage is done maturities. By Sector By origination by borrowers (%) (R$ billions) R$4.2 billion + 21.5% (vs. 3Q18) 6.2 4.2 43% 57% Loan-to-Value 39.0 Ratio of the amount of the financing to the value of the real estate property Branches INSS Itaú Consignado S.A. Public Sector Vintage (quarterly average) Portfolio Private Sector 60.6% 38.8% Credit Cards Vehicle Financing Very Small, Small and Middle Market R$80.4 billion as of September 30, 2019 R$83.3 billion as of September 30, 2019 R$18.0 billion as of September 30, 2019 + 5.1% (vs. Jun-19) + 21.4% (vs. Sep-18) + 4.5% (vs. Jun-19) + 18.0% (vs. Sep-18) + 7.1% (vs. Jun-19) + 23. 9% (vs. Sep-18) In the third quarter of 2019, the 8.7% 9.4% 9.9% 3 origination of credits for very small, small 8.5% 9.7% 9.6% Originations in 3Q19 and middle-market companies increased R$3.2 billion + 15.9% (vs. 3Q18) 34% from the previous year. 82.8% 80.9% 80.5% Average Term % Average Average Ticket Down Payment 43 months R$35.8 thousand 38% Sep-18 Jun-19 Sep-19 Revolving Credit + Overdue Loans¹ Loan-to-Value Installment with Interest Transactor² Vintage (quarterly average) Portfolio 58.1% 59.4% (1) Includes nonperforming loans more than 1 day overdue; (2) includes installment without interest. (1) (2) (3) Without financial guarantees provided. Includes Individuals and Companies. Average origination per working day in the quarter. Note: For further information on products, please see to our Institutional Presentation, available on our Investor Relations website. Itaú Unibanco Holding S.A. 24

Management Discussion & Analysis Balance Sheet Funding Highlights · Compared to the second quarter of 2019, the 6.6% growth in time deposits is partially related to the migration of funds from debentures linked to repurchase agreements. · Savings deposits increased 12.1% in the quarter and 9.9% when compared to the same period of the previous year. In R$ millions, end of period 3Q19 2Q19D 3Q18D Demand Deposits 82,245 73,352 12.1% 74,817 9.9% Savings Deposits 140,122 137,568 1.9% 132,374 5.9% Time Deposits 267,029 250,521 6.6% 244,247 9.3% Debentures (Linked to Repurchase Agreements and Third Parties’ Operations) 6,492 1 0,426 -37.7% 29,472 -78.0% (1) Funds from Bills and Structured Operations Certificates 85,440 7 8,824 8.4% 74,358 14.9% 581,328 550,691 5.6% 555,267 4.7% Funding from Clients (A) Onlending 13,246 1 4,615 -9.4% 19,017 -30.3% Borrowings 64,524 58,174 10.9% 48,240 33.8% Funds from Acceptance and Issuance of Securities 45,443 4 6,513 -2.3% 44,327 2.5% (2) Other 32,209 29,463 9.3% 30,087 7.1% 736,750 699,455 5.3% 696,938 5.7% Gross Funds raised Portfolio Managed and Investment Fund (B) 1,144,597 1,045,172 9.5% 979,333 16.9% Open Platform (C) 187,134 169,536 10.4% 125,397 49.2% Investment Fund 172,037 155,111 10.9% 114,153 50.7% (3) Other 15,097 14,425 4.7% 11,243 34.3% 2,068,481 1,914,163 8.1% 1,801,668 14.8% Total Funds and Assets Under Administration Funds from Clients (A) + (B) + (C) 1,913,058 1,765,399 8.4% 1,659,997 15.2% (1) Includes funds from Real Estate, Mortgage, Financial, Credit and Similar Notes. (2) Includes installments of subordinated debt that are not included in the Tier II Referential Equity. (3) Includes Certificates of Banks Deposits (CDB), Certificates of Agribusiness Receivables (CRA), Certificates of Real Estate Receivables (CRI), Debentures, Agricultural Credit Bonds (LCA) and Real Estate Credit Bonds (LCI). Loans and Funding The ratio between the loan portfolio and the funds raised net from reserve required by Brazilian Central Bank and cash reached 93.3% in the third quarter of 2019. 96.4% 96.0% 96.9% 94.6% 91.7% 91.8% 93.3% 79.0% 77.8% 77.5% 78.6% 78.2% 74.5% 76.1% In R$ Billions 737 697 699 691 687 667 665 618 578 576 571 566 553 553 548 540 544 532 531 519 495 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Gross Funds raised Funds raised Net from Reserve Required by Brazilian Central Bank and Cash Loan portfolio Loan Portfolio / Gross Funds raised Loan Portfolio / Funds raised Net from Reserve Required by Brazilian Central Bank and Cash 25 Itaú Itaú U Un nib iban anc co o H Ho old lding ing S. S.A. A. Management Discussion & Analysis Balance Sheet Funding Highlights · Compared to the second quarter of 2019, the 6.6% growth in time deposits is partially related to the migration of funds from debentures linked to repurchase agreements. · Savings deposits increased 12.1% in the quarter and 9.9% when compared to the same period of the previous year. In R$ millions, end of period 3Q19 2Q19D 3Q18D Demand Deposits 82,245 73,352 12.1% 74,817 9.9% Savings Deposits 140,122 137,568 1.9% 132,374 5.9% Time Deposits 267,029 250,521 6.6% 244,247 9.3% Debentures (Linked to Repurchase Agreements and Third Parties’ Operations) 6,492 1 0,426 -37.7% 29,472 -78.0% (1) Funds from Bills and Structured Operations Certificates 85,440 7 8,824 8.4% 74,358 14.9% 581,328 550,691 5.6% 555,267 4.7% Funding from Clients (A) Onlending 13,246 1 4,615 -9.4% 19,017 -30.3% Borrowings 64,524 58,174 10.9% 48,240 33.8% Funds from Acceptance and Issuance of Securities 45,443 4 6,513 -2.3% 44,327 2.5% (2) Other 32,209 29,463 9.3% 30,087 7.1% 736,750 699,455 5.3% 696,938 5.7% Gross Funds raised Portfolio Managed and Investment Fund (B) 1,144,597 1,045,172 9.5% 979,333 16.9% Open Platform (C) 187,134 169,536 10.4% 125,397 49.2% Investment Fund 172,037 155,111 10.9% 114,153 50.7% (3) Other 15,097 14,425 4.7% 11,243 34.3% 2,068,481 1,914,163 8.1% 1,801,668 14.8% Total Funds and Assets Under Administration Funds from Clients (A) + (B) + (C) 1,913,058 1,765,399 8.4% 1,659,997 15.2% (1) Includes funds from Real Estate, Mortgage, Financial, Credit and Similar Notes. (2) Includes installments of subordinated debt that are not included in the Tier II Referential Equity. (3) Includes Certificates of Banks Deposits (CDB), Certificates of Agribusiness Receivables (CRA), Certificates of Real Estate Receivables (CRI), Debentures, Agricultural Credit Bonds (LCA) and Real Estate Credit Bonds (LCI). Loans and Funding The ratio between the loan portfolio and the funds raised net from reserve required by Brazilian Central Bank and cash reached 93.3% in the third quarter of 2019. 96.4% 96.0% 96.9% 94.6% 91.7% 91.8% 93.3% 79.0% 77.8% 77.5% 78.6% 78.2% 74.5% 76.1% In R$ Billions 737 697 699 691 687 667 665 618 578 576 571 566 553 553 548 540 544 532 531 519 495 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Gross Funds raised Funds raised Net from Reserve Required by Brazilian Central Bank and Cash Loan portfolio Loan Portfolio / Gross Funds raised Loan Portfolio / Funds raised Net from Reserve Required by Brazilian Central Bank and Cash 25 Itaú Itaú U Un nib iban anc co o H Ho old lding ing S. S.A. A.

Management Discussion & Analysis             Capital and Risk      Capital, Liquidity and Market ratios Itaú Unibanco assesses its capital adequacy to face the incurred risks, represented by the regulatory capital for credit, market and operational risks and by the capital necessary to cover other risks, in accordance with the set of rules disclosed by the Central Bank of Brazil, which implements the Basel III capital requirements in Brazil. The Board of Directors established that the minimum level for the Company’s Tier I capital must be 13.5% in order to maintain proper capital levels in normal situations and to absorb shocks in stress scenarios. Tier I Capital Ratio On September 30, 2019, our Tier I Capital reached 14.1%, consisting of 12.8% Common Equity Tier I and 1.3% Additional Tier I.   14.9% 14.1% 0.7% -0.7% -0.2% -0.6% 1.3% 1.3% 13.6% 12.8% Tier I 3Q19 net income and Additional dividends and Prudential Adjustments RWA Tier I Jun-19 other equity changes IOC Sep-19 Additional Tier I (AT1) Common Equity Tier I (CET I) Capital Ratios 3Q19 2Q19 In R$ millions, end of period Main changes in the quarter: Core Capital 113,235 115,498 Tier I (Core Capital + Additional Capital) 124,856 126,373 Referential Equity: Decrease of 1.1% mainly driven by additional dividends Referential Equity (Tier I and Tier II) 136,755 138,267 and interest on capital. Total Risk-weighted Exposure (RWA) 887,513 847,001 RWA: Increase of R$40,511 million mainly due to the increase in the credit Credit Risk-weighted Assets (RWACPAD) 759,358 724,300 portfolio and the impact of foreign exchange variation on assets. Operational Risk-weighted Assets (RWAOPAD) 81,568 81,341 Market Risk-weighted Assets (RWAMINT) 46,587 41,360 BIS ratio: Decrease of 90 basis points driven by the additional dividends Core Capital Ratio 12.8% 13.6% and interest on capital, and by the increase in credit risk-weighted assets Tier I Ratio 14.1% 14.9% (RWA ). CPAD BIS (Referential Equity / Total Risk-weighted Exposure) 15.4%16.3% Note: Includes financial institutions, consortium managers, payment institutions, companies that acquire operations or directly or indirectly assume credit risk and investment funds in which the conglomerate substantially retains risks and benefits. 1,2 Value at Risk - VaR Liquidity Ratios   These ratios are calculated based on the methodology defined by the This is one of the main market risk indicators and a statistical Brazilian Central Bank, which is in line with Basel III international guidelines. metric that quantifies the maximum potential economic loss expected in normal market conditions. Liquidity Coverage Ratio (LCR) (2) (2) In R$ millions, end of period 3Q19 2Q19 In R$ millions 3Q19 2Q19 VaR by Risk Factor 152,914 HQLA 157,474 Brazilian Interest Rates 682.0 813.7 Potential Cash Outflows 100,642 94,194 Currency 29.3 12.3 LCR (%) 151.9% 167.2% Shares of Stock Exchange 13.5 26.4 Net Stable Funding Ratio (NSFR) Commodities 1.5 1.7 Diversification Effect (505.9) (524.2) In R$ millions 3Q19 2Q19 Total VaR 220.4 329.9 699,997 Available Stable Funding 684,689 Maximum VaR in the quarter 398.3 413.9 Required Stable Funding 595,943 565,158 Average VaR in the quarter 305.6 350.2 NSFR (%) 117.5% 121.1% Minimum VaR in the quarter 208.7 297.8 (1) Values represented above consider a 1-day time horizon and a 99% confidence level. For 2019, the minimum liquidity ratio indicators required by the Brazilian Central Bank is 100%. (2) The VaR by risk factors includes foreign companies. Note: For further information on risk and capital management, please access the Investor Relations website at www.itau.com.br/investor- relations, section Reports - Pillar 3 and Global Systemically Important Banks. 26 Itaú Unibanco Holding S.A. Management Discussion & Analysis Capital and Risk Capital, Liquidity and Market ratios Itaú Unibanco assesses its capital adequacy to face the incurred risks, represented by the regulatory capital for credit, market and operational risks and by the capital necessary to cover other risks, in accordance with the set of rules disclosed by the Central Bank of Brazil, which implements the Basel III capital requirements in Brazil. The Board of Directors established that the minimum level for the Company’s Tier I capital must be 13.5% in order to maintain proper capital levels in normal situations and to absorb shocks in stress scenarios. Tier I Capital Ratio On September 30, 2019, our Tier I Capital reached 14.1%, consisting of 12.8% Common Equity Tier I and 1.3% Additional Tier I. 14.9% 14.1% 0.7% -0.7% -0.2% -0.6% 1.3% 1.3% 13.6% 12.8% Tier I 3Q19 net income and Additional dividends and Prudential Adjustments RWA Tier I Jun-19 other equity changes IOC Sep-19 Additional Tier I (AT1) Common Equity Tier I (CET I) Capital Ratios 3Q19 2Q19 In R$ millions, end of period Main changes in the quarter: Core Capital 113,235 115,498 Tier I (Core Capital + Additional Capital) 124,856 126,373 Referential Equity: Decrease of 1.1% mainly driven by additional dividends Referential Equity (Tier I and Tier II) 136,755 138,267 and interest on capital. Total Risk-weighted Exposure (RWA) 887,513 847,001 RWA: Increase of R$40,511 million mainly due to the increase in the credit Credit Risk-weighted Assets (RWACPAD) 759,358 724,300 portfolio and the impact of foreign exchange variation on assets. Operational Risk-weighted Assets (RWAOPAD) 81,568 81,341 Market Risk-weighted Assets (RWAMINT) 46,587 41,360 BIS ratio: Decrease of 90 basis points driven by the additional dividends Core Capital Ratio 12.8% 13.6% and interest on capital, and by the increase in credit risk-weighted assets Tier I Ratio 14.1% 14.9% (RWA ). CPAD BIS (Referential Equity / Total Risk-weighted Exposure) 15.4%16.3% Note: Includes financial institutions, consortium managers, payment institutions, companies that acquire operations or directly or indirectly assume credit risk and investment funds in which the conglomerate substantially retains risks and benefits. 1,2 Value at Risk - VaR Liquidity Ratios These ratios are calculated based on the methodology defined by the This is one of the main market risk indicators and a statistical Brazilian Central Bank, which is in line with Basel III international guidelines. metric that quantifies the maximum potential economic loss expected in normal market conditions. Liquidity Coverage Ratio (LCR) (2) (2) In R$ millions, end of period 3Q19 2Q19 In R$ millions 3Q19 2Q19 VaR by Risk Factor 152,914 HQLA 157,474 Brazilian Interest Rates 682.0 813.7 Potential Cash Outflows 100,642 94,194 Currency 29.3 12.3 LCR (%) 151.9% 167.2% Shares of Stock Exchange 13.5 26.4 Net Stable Funding Ratio (NSFR) Commodities 1.5 1.7 Diversification Effect (505.9) (524.2) In R$ millions 3Q19 2Q19 Total VaR 220.4 329.9 699,997 Available Stable Funding 684,689 Maximum VaR in the quarter 398.3 413.9 Required Stable Funding 595,943 565,158 Average VaR in the quarter 305.6 350.2 NSFR (%) 117.5% 121.1% Minimum VaR in the quarter 208.7 297.8 (1) Values represented above consider a 1-day time horizon and a 99% confidence level. For 2019, the minimum liquidity ratio indicators required by the Brazilian Central Bank is 100%. (2) The VaR by risk factors includes foreign companies. Note: For further information on risk and capital management, please access the Investor Relations website at www.itau.com.br/investor- relations, section Reports - Pillar 3 and Global Systemically Important Banks. 26 Itaú Unibanco Holding S.A.

Segment Analysis Management Discussion and Analysis Results by Business Segment The Pro Forma financial statements of Retail Banking, Wholesale Banking and Activities with the Market + Corporation presented below are based on managerial information derived from internal models to more accurately reflect the activities of the business units. Retail Banking Retail banking products and services offered to both current account and non-current account holders include: personal loans, mortgage loans, payroll loans, credit cards, acquiring services, vehicle financing, insurance, pension plan and premium bond products, among others. Current account holders are segmented into: (i) Retail, (ii) Uniclass, (iii) Personnalité and (iv) Very small and small companies. Highlights · The 5.2% increase in the financial margin with clients in the quarter was partially offset by the increase in the provision for loan losses and higher non-interest expenses. · Compared to the third quarter of 2018, the increase in financial margin with clients in the quarter more than offset the increase in provision for loan losses and higher non-interest expenses. 3Q19 2Q19 Δ 3Q18 Δ In R$ millions Operating Revenues 20,215 19,477 3.8% 18,042 12.0% Managerial Financial Margin 12,131 11,529 5.2% 10,207 18.8% Commissions and Fees 6,308 6,224 1.3% 6,243 1.0% Revenues from Insurance, Pension Plans and Premium Bonds Operations before 1,777 1,724 3.1% 1,592 11.6% Retained Claims and Selling Expenses Cost of Credit (4,238) (3,940) 7.6% (3,297) 28.6% Retained Claims (321) (282) 13.9% (301) 6.5% Other Operating Expenses (10,541) (10,289) 2.4% (10,175) 3.6% Income before Tax and Minority Interests 5,116 4,966 3.0% 4,269 19.8% Income Tax and Social Contribution (1,768) (1,708) 3.5% (1,632) 8.3% Minority Interests in Subsidiaries (37) (60) -39.2% (39) -7.2% Recurring Net Income 3,198 3.5% 2,598 27.5% 3,311 Recurring Return on Average Allocated Capital 33.2% 33.0% 20 bps 29.0% 420 bps Efficiency Ratio (ER) 49.7% 50.4% -70 bps 54.4% -470 bps Risk-Adjusted Efficiency Ratio (RAER) 72.5% 72.4% 10 bps 74.2% -170 bps Loan Portfolio (R$ billion) Segment highlights     Itaú Paypal | Partnership Expansion +3.9% +16.8% · In Itaú Apps, our clients can create a PayPal account and link their credit cards to their 269.2 259.0 PayPal digital wallet. They can also make purchases using the PayPal “One Touch” 251.0 243.6 function without entering login and password. 230.5 iti is released for all Android and iOS users · iti, Itaú Unibanco’s digital payments platform, enables users to realize instant payments, 24 hours a day, seven days a week, for any person or business at zero cost, in over 4 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 thousand cities in Brazil. Digital Transformation in the Retail Banking 1 Use of Digital Channels Share of Retail Operating Revenues Share of Transactions number of current account holders through digital channels*  (in millions) 9M17 9M19  Efficiency Ratio 12.2 29% 32% 10.7 of branches in the 9M19  Credit 17%  20%  9.4 27% Digital Investments 37%  47%  71% 68% 67% Brick-and 1.2 1.0 1.1 Payments 67%  80%  - Mortar Sep-17 Sep-18 Sep-19 9M17 9M19 * Note: Share of digital channels in the total volume (R$) Individuals Companies Digital Branches  Brick‐and‐Mortar Bran‐ of transactions in the Retail Bank segment. ¹ Internet, mobile and SMS on Retail Bank. Itaú Unibanco Holding S.A. 27 Segment Analysis Management Discussion and Analysis Results by Business Segment The Pro Forma financial statements of Retail Banking, Wholesale Banking and Activities with the Market + Corporation presented below are based on managerial information derived from internal models to more accurately reflect the activities of the business units. Retail Banking Retail banking products and services offered to both current account and non-current account holders include: personal loans, mortgage loans, payroll loans, credit cards, acquiring services, vehicle financing, insurance, pension plan and premium bond products, among others. Current account holders are segmented into: (i) Retail, (ii) Uniclass, (iii) Personnalité and (iv) Very small and small companies. Highlights · The 5.2% increase in the financial margin with clients in the quarter was partially offset by the increase in the provision for loan losses and higher non-interest expenses. · Compared to the third quarter of 2018, the increase in financial margin with clients in the quarter more than offset the increase in provision for loan losses and higher non-interest expenses. 3Q19 2Q19 Δ 3Q18 Δ In R$ millions Operating Revenues 20,215 19,477 3.8% 18,042 12.0% Managerial Financial Margin 12,131 11,529 5.2% 10,207 18.8% Commissions and Fees 6,308 6,224 1.3% 6,243 1.0% Revenues from Insurance, Pension Plans and Premium Bonds Operations before 1,777 1,724 3.1% 1,592 11.6% Retained Claims and Selling Expenses Cost of Credit (4,238) (3,940) 7.6% (3,297) 28.6% Retained Claims (321) (282) 13.9% (301) 6.5% Other Operating Expenses (10,541) (10,289) 2.4% (10,175) 3.6% Income before Tax and Minority Interests 5,116 4,966 3.0% 4,269 19.8% Income Tax and Social Contribution (1,768) (1,708) 3.5% (1,632) 8.3% Minority Interests in Subsidiaries (37) (60) -39.2% (39) -7.2% Recurring Net Income 3,198 3.5% 2,598 27.5% 3,311 Recurring Return on Average Allocated Capital 33.2% 33.0% 20 bps 29.0% 420 bps Efficiency Ratio (ER) 49.7% 50.4% -70 bps 54.4% -470 bps Risk-Adjusted Efficiency Ratio (RAER) 72.5% 72.4% 10 bps 74.2% -170 bps Loan Portfolio (R$ billion) Segment highlights Itaú Paypal | Partnership Expansion +3.9% +16.8% · In Itaú Apps, our clients can create a PayPal account and link their credit cards to their 269.2 259.0 PayPal digital wallet. They can also make purchases using the PayPal “One Touch” 251.0 243.6 function without entering login and password. 230.5 iti is released for all Android and iOS users · iti, Itaú Unibanco’s digital payments platform, enables users to realize instant payments, 24 hours a day, seven days a week, for any person or business at zero cost, in over 4 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 thousand cities in Brazil. Digital Transformation in the Retail Banking 1 Use of Digital Channels Share of Retail Operating Revenues Share of Transactions number of current account holders through digital channels* (in millions) 9M17 9M19 Efficiency Ratio 12.2 29% 32% 10.7 of branches in the 9M19 Credit 17% 20% 9.4 27% Digital Investments 37% 47% 71% 68% 67% Brick-and 1.2 1.0 1.1 Payments 67% 80% - Mortar Sep-17 Sep-18 Sep-19 9M17 9M19 * Note: Share of digital channels in the total volume (R$) Individuals Companies Digital Branches Brick‐and‐Mortar Bran‐ of transactions in the Retail Bank segment. ¹ Internet, mobile and SMS on Retail Bank. Itaú Unibanco Holding S.A. 27

Segment Analysis Management Discussion and Analysis Results by Business Segment Wholesale Banking Wholesale Banking comprises: i) the activities of Itaú BBA, the unit responsible for commercial operations with large companies and for investment banking services, ii) the activities of our units abroad, iii) the Itaú Asset Management, specialized asset manager, and iv) the products and services offered to high-net worth clients (Private Banking), middle market companies and institutional clients. Highlights · Net income in the Wholesale Banking segment decreased by 2.1% from the last quarter due to lower reversal of provision for loan losses in Brazil, as fewer segment clients had credit risk rating upgrades in the quarter. This negative effect was partially offset by higher revenues from fund management, advisory and brokerage services. · Compared to the third quarter of 2018, the higher revenues from fund management fees and advisory services were offset by the higher cost of credit and lower financial margin with clients. 3Q19 2Q19 Δ 3Q18 Δ In R$ millions Operating Revenues 7,580 7,506 1.0% 7,386 2.6% Managerial Financial Margin 4,661 4,728 -1.4% 4,817 -3.2% Commissions and Fees 2,804 2,666 5.2% 2,342 19.7% Revenues from Insurance, Pension Plans and Premium Bonds Operations before 115 113 1.9% 227 -49.5% Retained Claims and Selling Expenses Cost of Credit (257) (105) 145.1% 34 - Retained Claims (18) (15) 14.5% (18) -4.3% Other Operating Expenses (3,858) (3,799) 1.6% (3,867) -0.2% Income before Tax and Minority Interests 3,447 3,587 -3.9% 3,535 -2.5% Income Tax and Social Contribution (1,055) (1,076) -2.0% (1,017) 3.7% Minority Interests in Subsidiaries (130) (202) -35.4% (108) 20.8% Recurring Net Income 2,309 -2.1% 2,410 -6.2% 2,262 Recurring Return on Average Allocated Capital 20.0% 20.8% -80 bps 19.0% 100 bps Efficiency Ratio (ER) 48.5% 48.3% 20 bps 50.2% -170 bps Risk-Adjusted Efficiency Ratio (RAER) 52.1% 49.7% 240 bps 49.7% 240 bps Loan Portfolio (R$ billions) Assets under management -ANBIMA ranking (R$ billions) +4.4% 14.6% 14.7% 14.4% 14.0% 14.2% +2.3% 745.6 707.6 680.6 686.5 300.0 306.8 292.7 293.9 652.5 288.9 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Assets under management (Itaú Unibanco e Intrag) Market share Activities with the Market + Corporation Includes: (i) result from capital surplus, excess subordinated debt and the net balance of tax assets and liabilities; (ii) financial margin with the market; (iii) costs of Treasury operations and (iv) the equity pickup from companies not linked to each segment. 3Q19 2Q19 Δ 3Q18 Δ In R$ millions Operating Revenues 2,462 2,509 -1.9% 2,470 -0.3% Managerial Financial Margin 2,279 2,194 3.9% 2,384 -4.4% Commissions and Fees 155 174 -10.5% 47 229.1% Revenues from Insurance, Pension Plans and Premium Bonds Operations before 28 141 -80.5% 39 -29.4% Retained Claims and Selling Expenses Other Operating Expenses (174) (344) -49.4% (244) -28.6% Income before Tax and Minority Interests 2,288 2,165 5.7% 2,226 2.8% Income Tax and Social Contribution (692) (623) 11.1% (773) -10.4% Minority Interests in Subsidiaries (12) (15) -19.8% (8) 53.3% Recurring Net Income 1,527 3.7% 1,446 9.5% 1,584 Recurring Return on Average Allocated Capital 17.2% 16.8% 40 bps 16.8% 40 bps Efficiency Ratio (ER) 2.3% 7.1% -480 bps 4.7% -240 bps Risk-Adjusted Efficiency Ratio (RAER) 2.3% 7.1% -480 bps 4.7% -240 bps Itaú Unibanco Holding S.A. 28 Segment Analysis Management Discussion and Analysis Results by Business Segment Wholesale Banking Wholesale Banking comprises: i) the activities of Itaú BBA, the unit responsible for commercial operations with large companies and for investment banking services, ii) the activities of our units abroad, iii) the Itaú Asset Management, specialized asset manager, and iv) the products and services offered to high-net worth clients (Private Banking), middle market companies and institutional clients. Highlights · Net income in the Wholesale Banking segment decreased by 2.1% from the last quarter due to lower reversal of provision for loan losses in Brazil, as fewer segment clients had credit risk rating upgrades in the quarter. This negative effect was partially offset by higher revenues from fund management, advisory and brokerage services. · Compared to the third quarter of 2018, the higher revenues from fund management fees and advisory services were offset by the higher cost of credit and lower financial margin with clients. 3Q19 2Q19 Δ 3Q18 Δ In R$ millions Operating Revenues 7,580 7,506 1.0% 7,386 2.6% Managerial Financial Margin 4,661 4,728 -1.4% 4,817 -3.2% Commissions and Fees 2,804 2,666 5.2% 2,342 19.7% Revenues from Insurance, Pension Plans and Premium Bonds Operations before 115 113 1.9% 227 -49.5% Retained Claims and Selling Expenses Cost of Credit (257) (105) 145.1% 34 - Retained Claims (18) (15) 14.5% (18) -4.3% Other Operating Expenses (3,858) (3,799) 1.6% (3,867) -0.2% Income before Tax and Minority Interests 3,447 3,587 -3.9% 3,535 -2.5% Income Tax and Social Contribution (1,055) (1,076) -2.0% (1,017) 3.7% Minority Interests in Subsidiaries (130) (202) -35.4% (108) 20.8% Recurring Net Income 2,309 -2.1% 2,410 -6.2% 2,262 Recurring Return on Average Allocated Capital 20.0% 20.8% -80 bps 19.0% 100 bps Efficiency Ratio (ER) 48.5% 48.3% 20 bps 50.2% -170 bps Risk-Adjusted Efficiency Ratio (RAER) 52.1% 49.7% 240 bps 49.7% 240 bps Loan Portfolio (R$ billions) Assets under management -ANBIMA ranking (R$ billions) +4.4% 14.6% 14.7% 14.4% 14.0% 14.2% +2.3% 745.6 707.6 680.6 686.5 300.0 306.8 292.7 293.9 652.5 288.9 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Assets under management (Itaú Unibanco e Intrag) Market share Activities with the Market + Corporation Includes: (i) result from capital surplus, excess subordinated debt and the net balance of tax assets and liabilities; (ii) financial margin with the market; (iii) costs of Treasury operations and (iv) the equity pickup from companies not linked to each segment. 3Q19 2Q19 Δ 3Q18 Δ In R$ millions Operating Revenues 2,462 2,509 -1.9% 2,470 -0.3% Managerial Financial Margin 2,279 2,194 3.9% 2,384 -4.4% Commissions and Fees 155 174 -10.5% 47 229.1% Revenues from Insurance, Pension Plans and Premium Bonds Operations before 28 141 -80.5% 39 -29.4% Retained Claims and Selling Expenses Other Operating Expenses (174) (344) -49.4% (244) -28.6% Income before Tax and Minority Interests 2,288 2,165 5.7% 2,226 2.8% Income Tax and Social Contribution (692) (623) 11.1% (773) -10.4% Minority Interests in Subsidiaries (12) (15) -19.8% (8) 53.3% Recurring Net Income 1,527 3.7% 1,446 9.5% 1,584 Recurring Return on Average Allocated Capital 17.2% 16.8% 40 bps 16.8% 40 bps Efficiency Ratio (ER) 2.3% 7.1% -480 bps 4.7% -240 bps Risk-Adjusted Efficiency Ratio (RAER) 2.3% 7.1% -480 bps 4.7% -240 bps Itaú Unibanco Holding S.A. 28

Management Discussion & Analysis Activities Abroad Results by Region (Brazil and Latin America) We present below the income statement segregated between our operations in Brazil, which include units abroad excluding Latin America, and our operations in Latin America excluding Brazil. Our operations in Brazil¹ represent 95% of Recurring net income in the quarter and 94.8% in the last nine months. Quarterly Income Statement Nine-Month Income Statement Brazil 1 (In R$ millions, end of period) 3Q19 2Q19D 9M19 9M18D Operating Revenues 27,309 26,486 3.1% 79,143 75,070 5.4% Managerial Financial Margin 16,871 16,209 4.1% 48,654 45,680 6.5% Financial Margin with Clients 15,841 15,128 4.7% 45,625 42,372 7.7% Financial Margin with the Market 1,030 1,081 -4.8% 3,029 3,308 -8.4% Commissions and Fees 8,551 8,328 2.7% 24,769 23,747 4.3% Revenues from Insurance ² 1,887 1,949 -3.2% 5,720 5,643 1.4% Cost of Credit (3,945) (3,571) 10.5% (10,868) (9,237) 17.7% Provision for Loan Losses (4,284) (3,839) 11.6% (11,840) (10,598) 11.7% Impairment (70) (43) 63.1% (142) (277) -48.7% Discounts Granted (295) (382) -22.8% (957) (837) 14.3% Recovery of Loans Written Off as Losses 704 693 1.6% 2,071 2,475 -16.3% Retained Claims (326) (286) 14.2% (901) (883) 2.0% Other Operating Expenses (12,871) (12,657) 1.7% (37,656) (36,407) 3.4% Non-interest Expenses (11,095) (10,930) 1.5% (32,508) (31,462) 3.3% Tax Expenses and Other ³ (1,776) (1,727) 2.8% (5,148) (4,944) 4.1% Income before Tax and Minority Interests 10,168 9,973 2.0% 29,718 28,544 4.1% Income Tax and Social Contribution (3,322) (3,236) 2.7% (9,565) (10,024) -4.6% Minority Interests in Subsidiaries (48) (75) -35.5% (186) (151) 23.2% Recurring Net Income 6,798 6,662 2.0% ## 19,967 18,369 8.7% Share 95.0% 94.7% 30 bps 94.8% 95.4% - 60 bps Recurring Return on Average Allocated Capital 24.6% 24.6% - 24.7% 22.9% 190 bps Quarterly Income Statement Nine-Month Income Statement Latin America (ex-Brazil) (In R$ millions, end of period) 3Q19 2Q19D 9M19 9M18D Operating Revenues 2,948 3,006 -1.9% 8,815 8,275 6.5% Managerial Financial Margin 2,200 2,242 -1.8% 6,537 6,023 8.5% Financial Margin with Clients 1,780 1,751 1.7% 5,299 4,994 6.1% Financial Margin with the Market 420 491 -14.4% 1,238 1,028 20.4% Commissions and Fees 715 736 -2.8% 2,183 2,140 2.0% Revenues from Insurance ² 32 29 12.2% 95 113 -15.6% Cost of Credit (550) (473) 16.2% (1,475) (1,414) 4.4% Provision for Loan Losses (638) (568) 12.3% (1,695) (1,689) 0.4% Discounts Granted (5) (8) -40.2% (41) (6) 641.9% Recovery of Loans Written Off as Losses 92 102 -9.8% 261 281 -7.1% Retained Claims (12) (12) 7.9% (34) (51) -32.9% Other Operating Expenses (1,702) (1,775) -4.1% (5,191) (5,196) -0.1% Non-interest Expenses (1,701) (1,739) -2.2% (5,107) (5,121) -0.3% Tax Expenses and Other ³ (1) (36) -97.7% (84) (74) 12.6% Income before Tax and Minority Interests 683 746 -8.4% 2,114 1,614 30.9% Income Tax and Social Contribution (194) (172) 12.4% (547) (355) 54.0% Minority Interests in Subsidiaries (130) (202) -35.4% (467) (373) 25.3% Recurring Net Income 359 372 -3.5% ## 1,100 886 24.1% Share 5.0% 5.3% - 30 bps 5.2% 4.6% 60 bps Recurring Return on Average Allocated Capital 12.5% 13.1% - 60 bps 12.6% 10.4% 230 bps (1) Includes units abroad ex-Latin America. (2) Result from Insurance includes the Revenues from Insurance, Pension Plan and Premium Bonds Operations before Retained Claims and Selling Expenses. (3) Include Tax Expenses (ISS, PIS, COFINS and other) and Insurance Selling Expenses. Note: Latin America information is presented in nominal currency. Itaú Unibanco Holding S.A. 29 Management Discussion & Analysis Activities Abroad Results by Region (Brazil and Latin America) We present below the income statement segregated between our operations in Brazil, which include units abroad excluding Latin America, and our operations in Latin America excluding Brazil. Our operations in Brazil¹ represent 95% of Recurring net income in the quarter and 94.8% in the last nine months. Quarterly Income Statement Nine-Month Income Statement Brazil 1 (In R$ millions, end of period) 3Q19 2Q19D 9M19 9M18D Operating Revenues 27,309 26,486 3.1% 79,143 75,070 5.4% Managerial Financial Margin 16,871 16,209 4.1% 48,654 45,680 6.5% Financial Margin with Clients 15,841 15,128 4.7% 45,625 42,372 7.7% Financial Margin with the Market 1,030 1,081 -4.8% 3,029 3,308 -8.4% Commissions and Fees 8,551 8,328 2.7% 24,769 23,747 4.3% Revenues from Insurance ² 1,887 1,949 -3.2% 5,720 5,643 1.4% Cost of Credit (3,945) (3,571) 10.5% (10,868) (9,237) 17.7% Provision for Loan Losses (4,284) (3,839) 11.6% (11,840) (10,598) 11.7% Impairment (70) (43) 63.1% (142) (277) -48.7% Discounts Granted (295) (382) -22.8% (957) (837) 14.3% Recovery of Loans Written Off as Losses 704 693 1.6% 2,071 2,475 -16.3% Retained Claims (326) (286) 14.2% (901) (883) 2.0% Other Operating Expenses (12,871) (12,657) 1.7% (37,656) (36,407) 3.4% Non-interest Expenses (11,095) (10,930) 1.5% (32,508) (31,462) 3.3% Tax Expenses and Other ³ (1,776) (1,727) 2.8% (5,148) (4,944) 4.1% Income before Tax and Minority Interests 10,168 9,973 2.0% 29,718 28,544 4.1% Income Tax and Social Contribution (3,322) (3,236) 2.7% (9,565) (10,024) -4.6% Minority Interests in Subsidiaries (48) (75) -35.5% (186) (151) 23.2% Recurring Net Income 6,798 6,662 2.0% ## 19,967 18,369 8.7% Share 95.0% 94.7% 30 bps 94.8% 95.4% - 60 bps Recurring Return on Average Allocated Capital 24.6% 24.6% - 24.7% 22.9% 190 bps Quarterly Income Statement Nine-Month Income Statement Latin America (ex-Brazil) (In R$ millions, end of period) 3Q19 2Q19D 9M19 9M18D Operating Revenues 2,948 3,006 -1.9% 8,815 8,275 6.5% Managerial Financial Margin 2,200 2,242 -1.8% 6,537 6,023 8.5% Financial Margin with Clients 1,780 1,751 1.7% 5,299 4,994 6.1% Financial Margin with the Market 420 491 -14.4% 1,238 1,028 20.4% Commissions and Fees 715 736 -2.8% 2,183 2,140 2.0% Revenues from Insurance ² 32 29 12.2% 95 113 -15.6% Cost of Credit (550) (473) 16.2% (1,475) (1,414) 4.4% Provision for Loan Losses (638) (568) 12.3% (1,695) (1,689) 0.4% Discounts Granted (5) (8) -40.2% (41) (6) 641.9% Recovery of Loans Written Off as Losses 92 102 -9.8% 261 281 -7.1% Retained Claims (12) (12) 7.9% (34) (51) -32.9% Other Operating Expenses (1,702) (1,775) -4.1% (5,191) (5,196) -0.1% Non-interest Expenses (1,701) (1,739) -2.2% (5,107) (5,121) -0.3% Tax Expenses and Other ³ (1) (36) -97.7% (84) (74) 12.6% Income before Tax and Minority Interests 683 746 -8.4% 2,114 1,614 30.9% Income Tax and Social Contribution (194) (172) 12.4% (547) (355) 54.0% Minority Interests in Subsidiaries (130) (202) -35.4% (467) (373) 25.3% Recurring Net Income 359 372 -3.5% ## 1,100 886 24.1% Share 5.0% 5.3% - 30 bps 5.2% 4.6% 60 bps Recurring Return on Average Allocated Capital 12.5% 13.1% - 60 bps 12.6% 10.4% 230 bps (1) Includes units abroad ex-Latin America. (2) Result from Insurance includes the Revenues from Insurance, Pension Plan and Premium Bonds Operations before Retained Claims and Selling Expenses. (3) Include Tax Expenses (ISS, PIS, COFINS and other) and Insurance Selling Expenses. Note: Latin America information is presented in nominal currency. Itaú Unibanco Holding S.A. 29

Management Discussion & Analysis Activities Abroad Global Footprint We want to achieve, in the countries where we operate, the same management quality and level of results we have in Brazil. Through our internationalization strategy, we seek to understand different markets, business, products and services, identifying opportunities to integrate our units and to expand our operations to new countries. 1 Corporate & Investment Banking 2 Asset Management 3 Private Banking 4 Retail Our business abroad focuses on activities: 1 France 1 Germany 1,2 England 1 Spain 3 1 Switzerland Japan 1 Portugal 1,2,3 USA 1 1,2,3 1,2 Mexico Dubai Cayman 1,3 1,4 Bahamas Panama 1,4 Colombia 1,2,3,4 Brazil 1 Peru 1,3,4 Paraguay 1,4 1,2,3,4 Uruguay Chile 1,2,4 Argentina 1 2 3 Paraguay Colombia Other Countries Total Countries Uruguay Chile Argentina Latin America 867 Employees 1,111 5,645 1,655 3,416 12,694 534 96,764 44 Branches & CSBs 27 194 85 153 503 - 4,704 298 ATMs 60 458 176 170 1,162 47,518 (1) Does not include the 35 OCA’s Points of Service; (2) Includes employees in Panamá; (3) Latin America ex-Brazil (Argentina, Chile, Colombia, Paraguay and Uruguay). Focus on Latin America We want to be recognized as the Bank Key strategic drivers for 2019 of Latin America. Over the past years, Growth Efficiency we have consolidated our presence in · Expand our presence and customer base. · Continuously increase the efficiency of our Argentina, Chile, Paraguay and Uruguay, operations. · Focus on retail banking operations. and intensified our internationalization · Detail the cost allocation model for the process in Latin America. Customer centricity product level. · Continuous focus and discipline in identi- · Segmentation model with well-defined The recent merger between Banco Itaú fying cost reduction opportunities across value proposition identity. Chile and CorpBanca ensured a greater the institution. · Product development and service culture presence in countries such as Colombia focused on customer satisfaction and Generation of capital long-term relationships. and Panama and further expanded our · Efficient management of capital allocation operations in the region. Digital transformation through the appropriate cost of capital. · Metrics and value creation tools as the · Culture of innovation and transformation. Not only to gain access to new markets and driver throughout the organization. · Efficiency and better user experience. scale up our business, but also to think of our customers, to be closer to them and to provide better experiences. Itaú CorpBanca Itaú CorpBanca is a universal bank with headquarters in Chile and operations in Colombia and Panama. Access Itaú Corpbanca’s Investor Relations website . Itaú Unibanco Holding S.A. 30 Management Discussion & Analysis Activities Abroad Global Footprint We want to achieve, in the countries where we operate, the same management quality and level of results we have in Brazil. Through our internationalization strategy, we seek to understand different markets, business, products and services, identifying opportunities to integrate our units and to expand our operations to new countries. 1 Corporate & Investment Banking 2 Asset Management 3 Private Banking 4 Retail Our business abroad focuses on activities: 1 France 1 Germany 1,2 England 1 Spain 3 1 Switzerland Japan 1 Portugal 1,2,3 USA 1 1,2,3 1,2 Mexico Dubai Cayman 1,3 1,4 Bahamas Panama 1,4 Colombia 1,2,3,4 Brazil 1 Peru 1,3,4 Paraguay 1,4 1,2,3,4 Uruguay Chile 1,2,4 Argentina 1 2 3 Paraguay Colombia Other Countries Total Countries Uruguay Chile Argentina Latin America 867 Employees 1,111 5,645 1,655 3,416 12,694 534 96,764 44 Branches & CSBs 27 194 85 153 503 - 4,704 298 ATMs 60 458 176 170 1,162 47,518 (1) Does not include the 35 OCA’s Points of Service; (2) Includes employees in Panamá; (3) Latin America ex-Brazil (Argentina, Chile, Colombia, Paraguay and Uruguay). Focus on Latin America We want to be recognized as the Bank Key strategic drivers for 2019 of Latin America. Over the past years, Growth Efficiency we have consolidated our presence in · Expand our presence and customer base. · Continuously increase the efficiency of our Argentina, Chile, Paraguay and Uruguay, operations. · Focus on retail banking operations. and intensified our internationalization · Detail the cost allocation model for the process in Latin America. Customer centricity product level. · Continuous focus and discipline in identi- · Segmentation model with well-defined The recent merger between Banco Itaú fying cost reduction opportunities across value proposition identity. Chile and CorpBanca ensured a greater the institution. · Product development and service culture presence in countries such as Colombia focused on customer satisfaction and Generation of capital long-term relationships. and Panama and further expanded our · Efficient management of capital allocation operations in the region. Digital transformation through the appropriate cost of capital. · Metrics and value creation tools as the · Culture of innovation and transformation. Not only to gain access to new markets and driver throughout the organization. · Efficiency and better user experience. scale up our business, but also to think of our customers, to be closer to them and to provide better experiences. Itaú CorpBanca Itaú CorpBanca is a universal bank with headquarters in Chile and operations in Colombia and Panama. Access Itaú Corpbanca’s Investor Relations website . Itaú Unibanco Holding S.A. 30

Management Discussion & Analysis Activities Abroad Latin America Latin America is our priority in international expansion due to the geographical and cultural proximity of its countries with Brazil. In the third quarter of 2019, Latam's consolidated recurring net income reached R$359 million, a decrease of 3.5% in relation to the previous quarter. We present the results of the Latin American countries in constant currency, thus eliminating the effect of exchange rate variation and hedge adjustments, and in the managerial concept, which considers Brazilian accounting criteria, in addition to the allocation of Brazil’s cost structure, the impact of Brazilian income tax and social contribution and the allocation of the tax benefit of interest on own capital. Banco Banco Banco Banco Itaú Corpbanca Itaú Argentina Itaú Paraguay Itaú Uruguay In R$ millions (in constant currency) 3Q19 2Q19D 3Q19 2Q19D 3Q19 2Q19D 3Q19 2Q19D Operating Revenues 1,809 1,730 5% 283 344 -18% 271 255 6% 459 435 6% Managerial Financial Margin 1 ,452 1,361 7% 218 272 -20% 189 173 9% 248 236 5% Financial Margin with Clients 1 ,163 1,105 5% 242 242 0% 152 153 -1% 220 207 6% Financial Margin with the Market 289 255 13% (24) 30 -181% 37 20 87% 28 29 -3% Commissions and Fees 356 369 -3% 66 72 -9% 82 83 0% 211 198 6% Cost of Credit (511) (293) 74% (8) (36) -78% (31) (20) 54% ( 9) (33) -73% Provision for Loan Losses (599) (379) 58% (9) (36) -76% (33) (27) 23% (7) (35) -79% Discounts Granted -80% - - (1) (7) - - - - - - - Recovery of Loans Written Off as Losses -3% 27% -68% -35% 90 93 1 0 2 7 2 3 Other Operating Expenses (1,066) (1,101) -3% (215) (196) 9% ( 131) (126) 5% (292) (270) 8% -3% 7% 5% 8% Non-Interest Expenses (1,063) (1,098) (190) (177) (131) (125) (291) (270) -9% 30% - Tax Expenses for ISS, PIS, Cofins and Other Taxes (3) (3) (24) (19) (1) (1) (1) (1) - Income before Tax and Minority Interests 232 335 -31% 61 112 -46% 108 109 -1% 158 131 21% Income Tax and Social Contribution (50) (47) 5% (15) (36) -58% (38) (38) 0% (56) (45) 24% Minority Interests in Subsidiaries ¹ (133) (202) -34% - - - - - - - - - Recurring Net Income 50 86 -42% 46 76 -40% 70 71 -1% 102 86 19% Return on Average Equity - Annualized 3.1% 5.4% -230 bps 12.6% 21.9% -940 bps 26.0% 26.6% -60 bps 27.7% 24.3% 350 bps Efficiency Ratio 58.9% 63.6% -470 bps 73.5% 54.6% 1890 bps 48.4% 49.1% -70 bps 63.5% 62.1% 140 bps (1) Minority interests are calculated based on the accounting result of the transaction in BRGAAP. Banco Itaú Corpbanca Banco Itaú Argentina · Higher margin with the market from greater gains in marking · Lower margin with the market due to lower gains in to market in the quarter. securities resulting from macroeconomic scenario. · Higher cost of credit mainly due to the increase in the · Higher non-interest expenses due to the increase in provision resulting from regulatory impact in Chile. This personnel expenses, mainly due to inflation in the quarter. increase was partially offset by better credit quality in the Corporate Segment. Banco Itaú Paraguay Banco Itaú Uruguay · Higher cost of credit due to customer downgrade in · Higher margin with clients due to higher spreads and volume Corporate segment in the quarter. of assets in the Corporate segment and to higher demand deposits and credit card revenues in the Retail segment. · Lower cost of credit due to sale of assets in the Corporate segment and lower downgrades compared to the previous quarter. Main foreign exchange variations of the Brazilian real U.S dollar Uruguayan peso Argentinian peso Chilean peso Paraguayan Guarani Colombian peso + 4.0%  ‐ 26.6%  ‐ 6.8%  ‐ 11.5%  ‐ 6.3%  ‐ 3.8%  + 8.7%  + 4.0%  ‐ 19.9%  + 5.5%  + 0.2%  + 1.2%    4.1644    0.1130      0.000653    0.005714  0.001197  0.07234  3.8322  0.1212  4.0039  0.001353  0.001195  0.1087  0.09859  0.09036  0.006096  0.005648  0.000619  0.000679  3Q18  2Q19  3Q19  3Q18  2Q19  3Q19  3Q18  2Q19  3Q19  3Q18  2Q19  3Q19  3Q18  2Q19  3Q19  3Q18  2Q19  3Q19  Itaú Unibanco Holding S.A. 31 Management Discussion & Analysis Activities Abroad Latin America Latin America is our priority in international expansion due to the geographical and cultural proximity of its countries with Brazil. In the third quarter of 2019, Latam's consolidated recurring net income reached R$359 million, a decrease of 3.5% in relation to the previous quarter. We present the results of the Latin American countries in constant currency, thus eliminating the effect of exchange rate variation and hedge adjustments, and in the managerial concept, which considers Brazilian accounting criteria, in addition to the allocation of Brazil’s cost structure, the impact of Brazilian income tax and social contribution and the allocation of the tax benefit of interest on own capital. Banco Banco Banco Banco Itaú Corpbanca Itaú Argentina Itaú Paraguay Itaú Uruguay In R$ millions (in constant currency) 3Q19 2Q19D 3Q19 2Q19D 3Q19 2Q19D 3Q19 2Q19D Operating Revenues 1,809 1,730 5% 283 344 -18% 271 255 6% 459 435 6% Managerial Financial Margin 1 ,452 1,361 7% 218 272 -20% 189 173 9% 248 236 5% Financial Margin with Clients 1 ,163 1,105 5% 242 242 0% 152 153 -1% 220 207 6% Financial Margin with the Market 289 255 13% (24) 30 -181% 37 20 87% 28 29 -3% Commissions and Fees 356 369 -3% 66 72 -9% 82 83 0% 211 198 6% Cost of Credit (511) (293) 74% (8) (36) -78% (31) (20) 54% ( 9) (33) -73% Provision for Loan Losses (599) (379) 58% (9) (36) -76% (33) (27) 23% (7) (35) -79% Discounts Granted -80% - - (1) (7) - - - - - - - Recovery of Loans Written Off as Losses -3% 27% -68% -35% 90 93 1 0 2 7 2 3 Other Operating Expenses (1,066) (1,101) -3% (215) (196) 9% ( 131) (126) 5% (292) (270) 8% -3% 7% 5% 8% Non-Interest Expenses (1,063) (1,098) (190) (177) (131) (125) (291) (270) -9% 30% - Tax Expenses for ISS, PIS, Cofins and Other Taxes (3) (3) (24) (19) (1) (1) (1) (1) - Income before Tax and Minority Interests 232 335 -31% 61 112 -46% 108 109 -1% 158 131 21% Income Tax and Social Contribution (50) (47) 5% (15) (36) -58% (38) (38) 0% (56) (45) 24% Minority Interests in Subsidiaries ¹ (133) (202) -34% - - - - - - - - - Recurring Net Income 50 86 -42% 46 76 -40% 70 71 -1% 102 86 19% Return on Average Equity - Annualized 3.1% 5.4% -230 bps 12.6% 21.9% -940 bps 26.0% 26.6% -60 bps 27.7% 24.3% 350 bps Efficiency Ratio 58.9% 63.6% -470 bps 73.5% 54.6% 1890 bps 48.4% 49.1% -70 bps 63.5% 62.1% 140 bps (1) Minority interests are calculated based on the accounting result of the transaction in BRGAAP. Banco Itaú Corpbanca Banco Itaú Argentina · Higher margin with the market from greater gains in marking · Lower margin with the market due to lower gains in to market in the quarter. securities resulting from macroeconomic scenario. · Higher cost of credit mainly due to the increase in the · Higher non-interest expenses due to the increase in provision resulting from regulatory impact in Chile. This personnel expenses, mainly due to inflation in the quarter. increase was partially offset by better credit quality in the Corporate Segment. Banco Itaú Paraguay Banco Itaú Uruguay · Higher cost of credit due to customer downgrade in · Higher margin with clients due to higher spreads and volume Corporate segment in the quarter. of assets in the Corporate segment and to higher demand deposits and credit card revenues in the Retail segment. · Lower cost of credit due to sale of assets in the Corporate segment and lower downgrades compared to the previous quarter. Main foreign exchange variations of the Brazilian real U.S dollar Uruguayan peso Argentinian peso Chilean peso Paraguayan Guarani Colombian peso + 4.0% ‐ 26.6% ‐ 6.8% ‐ 11.5% ‐ 6.3% ‐ 3.8% + 8.7% + 4.0% ‐ 19.9% + 5.5% + 0.2% + 1.2% 4.1644 0.1130 0.000653 0.005714 0.001197 0.07234 3.8322 0.1212 4.0039 0.001353 0.001195 0.1087 0.09859 0.09036 0.006096 0.005648 0.000619 0.000679 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 3Q18 2Q19 3Q19 Itaú Unibanco Holding S.A. 31

Additional Information Management Discussion & Analysis and Complete Financial Statements Additional Information Management Discussion & Analysis and Complete Financial Statements

Management Discussion & Analysis Itaú Unibanco Shares Itaú Unibanco Shares Our capital stock is comprised of common Market Capitalization Market Consensus (ITUB4) shares (ITUB3) and non-voting shares R$343 billion US$82 billion Sell Buy (ITUB4), both traded on B3 (São Paulo Stock Exchange). Non-voting shares are also Market capitalization is the total number of outstanding shares (common and non-voting shares) multiplied by the average price traded as depositary receipts - ADRs - on Buy 11 Hold 05 Sell 01 of the non-voting share on the last trading day in the period. the NYSE (New York Stock Exchange). Source: Thomson Reuters Corporate Structure Chart and Free Float Participation Non Voting Shares Egydio de Souza Moreira Salles Family Strengths of our structure Free Float* Free Float Aranha Family 100.00% Total Foreigners Brazilian Investors in B3 in NYSE · Family controlling ownership ensuring a 36.73% ON 63.27% ON 33% 28% 81.43% PN 18.57% PN Cia. E. Johnston de long-term view 66.07% Total 33.93% Total 4.8 bn Participações (number of shares) 39%· Professional management team 50.00% ON Foreigners 33.47% Total in B3 · Broad shareholder base 50.00% ON (52.89% of our shares in free float) Itaúsa 100.00% PN IUPAR Free Float* 66.53% Total 7.82% ON 39.21% ON 51.71% ON · Strong corporate governance 99.59% PN 0.004% PN 26.31% Total 52.89% Total 19.95% Total Itaú Unibanco Holding S.A. Note: ON = Common Share; PN = Non-voting Share; (*) Excluding shares held by majority owners and treasury shares. Performance in the Capital Market (R$) (R$) (US$) ITUB4 ITUB3 ITUB Price and Volume (PN Shares) (ON Shares) (ADR) Closing Price at 09/30/2019 35.03 30.12 8.41 Maximum price in the quarter 37.75 32.24 10.01 Average price in the quarter 35.43 30.47 8.92 Minimum price in the quarter 32.69 28.45 7.85 Closing Price at 06/28/2019 36.26 31.13 9.42 Closing price at 09/28/2018 29.42 25.13 7.32 Change in the 3Q19 -3.4% -3.2% -10.7% Change in the last 12 months 19.1% 19.8% 14.9% Average Daily Trading Volume in 3Q19 - million 715.0 18.4 152.5 Average daily trading financial volume in 12 months - million 730.5 14.6 174.0 Shareholder Base and Indicators 09/30/19 06/30/19 09/30/18 Number of Shares - million 9,804 9,804 9,804 Common Shares (ON) - million 4,958 4,958 4,958 Non-Voting Shares (PN) - million 4,846 4,846 4,846 Treasury Shares - million 60.0 6 0.9 90.2 Number of Outstanding Shares - million 9,744 9,743 9,714 Recurring Net Income per Share in the Quarter (R$) 0.73 0 .72 0.66 Net Income per Share in the Quarter (R$) 0.57 0 .70 0.64 Book Value per Share (R$) 12.90 12.91 12.87 (1) 13.47 13.57 11.64 Price/Earnings (P/E) (2) 2.72 2 .81 2.29 Price/Book Value (P/B) (1) (2) Closing price of non-voting shares at end of the period/earnings per share. For calculation purposes, the retained earnings of the last 12 months were included; Closing price of non-voting shares at end of the period/Book value per share at end of the period. Itaú Unibanco Holding S.A. 33 Management Discussion & Analysis Itaú Unibanco Shares Itaú Unibanco Shares Our capital stock is comprised of common Market Capitalization Market Consensus (ITUB4) shares (ITUB3) and non-voting shares R$343 billion US$82 billion Sell Buy (ITUB4), both traded on B3 (São Paulo Stock Exchange). Non-voting shares are also Market capitalization is the total number of outstanding shares (common and non-voting shares) multiplied by the average price traded as depositary receipts - ADRs - on Buy 11 Hold 05 Sell 01 of the non-voting share on the last trading day in the period. the NYSE (New York Stock Exchange). Source: Thomson Reuters Corporate Structure Chart and Free Float Participation Non Voting Shares Egydio de Souza Moreira Salles Family Strengths of our structure Free Float* Free Float Aranha Family 100.00% Total Foreigners Brazilian Investors in B3 in NYSE · Family controlling ownership ensuring a 36.73% ON 63.27% ON 33% 28% 81.43% PN 18.57% PN Cia. E. Johnston de long-term view 66.07% Total 33.93% Total 4.8 bn Participações (number of shares) 39%· Professional management team 50.00% ON Foreigners 33.47% Total in B3 · Broad shareholder base 50.00% ON (52.89% of our shares in free float) Itaúsa 100.00% PN IUPAR Free Float* 66.53% Total 7.82% ON 39.21% ON 51.71% ON · Strong corporate governance 99.59% PN 0.004% PN 26.31% Total 52.89% Total 19.95% Total Itaú Unibanco Holding S.A. Note: ON = Common Share; PN = Non-voting Share; (*) Excluding shares held by majority owners and treasury shares. Performance in the Capital Market (R$) (R$) (US$) ITUB4 ITUB3 ITUB Price and Volume (PN Shares) (ON Shares) (ADR) Closing Price at 09/30/2019 35.03 30.12 8.41 Maximum price in the quarter 37.75 32.24 10.01 Average price in the quarter 35.43 30.47 8.92 Minimum price in the quarter 32.69 28.45 7.85 Closing Price at 06/28/2019 36.26 31.13 9.42 Closing price at 09/28/2018 29.42 25.13 7.32 Change in the 3Q19 -3.4% -3.2% -10.7% Change in the last 12 months 19.1% 19.8% 14.9% Average Daily Trading Volume in 3Q19 - million 715.0 18.4 152.5 Average daily trading financial volume in 12 months - million 730.5 14.6 174.0 Shareholder Base and Indicators 09/30/19 06/30/19 09/30/18 Number of Shares - million 9,804 9,804 9,804 Common Shares (ON) - million 4,958 4,958 4,958 Non-Voting Shares (PN) - million 4,846 4,846 4,846 Treasury Shares - million 60.0 6 0.9 90.2 Number of Outstanding Shares - million 9,744 9,743 9,714 Recurring Net Income per Share in the Quarter (R$) 0.73 0 .72 0.66 Net Income per Share in the Quarter (R$) 0.57 0 .70 0.64 Book Value per Share (R$) 12.90 12.91 12.87 (1) 13.47 13.57 11.64 Price/Earnings (P/E) (2) 2.72 2 .81 2.29 Price/Book Value (P/B) (1) (2) Closing price of non-voting shares at end of the period/earnings per share. For calculation purposes, the retained earnings of the last 12 months were included; Closing price of non-voting shares at end of the period/Book value per share at end of the period. Itaú Unibanco Holding S.A. 33

Management Discussion & Analysis Glossary Glossary Executive Summary Operating Revenues Dividends and Interest on Own Mix of Products The sum of Managerial Financial Margin, Capital net of Taxes Change in the composition of credit risk Commissions and Fees and Result from Corresponds to the distribution of part of assets between periods. Insurance, Pension Plan and Premium the profits to stockholders, paid or Bonds Operations before Retained Claims provisioned, declared and posted in Average asset portfolio and Selling Expenses. Stockholders' Equity. Includes credit and private securities portfolio net of loans more than 60 days Managerial Financial Margin Market Capitalization overdue, while the balances do not include The sum of the Financial Margin with Obtained by multiplying the total number the effect of the average exchange rate Clients and the Financial Margin with of outstanding shares (common and non- variation in the periods. the Market. voting shares) by the average price of the non-voting share on the last trading day in Asset spreads Recurring Return on Average the period. Spreads variation on credit risk assets Equity – Annualized between periods. Obtained by dividing Recurring Net Income Tier I Capital Ratio by Average Stockholders’ Equity. The The sum of the Common Equity Tier I and Annualized average rate of financial resulting quotient is multiplied by the the Additional Tier I Capital, divided by the margin with clients number of periods in the year to derive the Total Risk Weighted Assets. Obtained by dividing the Financial Margin annualized rate. The calculation bases of with Clients by the average daily balances of returns were adjusted by the amount of Cost of Credit spread-sensitive operations, working capital dividends proposed after the balance sheet Composed of Result from Loan Losses, and others. The quotient of this division is closing dates, which have not yet been Impairment and Discounts Granted. divided by the number of calendar days in approved in annual stockholders' or Board the quarter and meetings. annualized (rising to 360) to obtain the annual rate. Managerial Financial Margin Recurring Return on Average Assets – Annualized Obtained by dividing Recurring Net Income Financial margin with clients Credit Quality by Average Assets. Consists of spread-sensitive operations, working capital and others. Spread-sensitive NPL Ratio (over 90 days) Coverage Ratio operations are: (i) the assets margin, which is Calculated by dividing the balance of non- Obtained by dividing the total allowance the difference between the amount performing loans over 90 days by total loan balance by the balance of operations more received in loan operations and corporate portfolio. Loans more than 90 days overdue than 90 days overdue. securities and the cost of money charged by include the total balance of transactions treasury banking and (ii) the liabilities with at least one installment more than 90 Efficiency Ratio margin, which is the difference between the days overdue. Obtained by dividing Non-Interest Expenses cost of funding and the amount received by the sum of Managerial Financial Margin, from treasury banking. Working capital NPL Creation Commissions and Fees, Result of Insurance, margin is the interest on working capital at The balance of loans that became overdue Pension Plan and Premium Bonds the Selic interest rate. for more than 90 days in the quarter. Operations and Tax Expenses (ISS, PIS, Cofins and Other Taxes). Financial margin with the market NPL Creation Coverage Includes treasury banking, which manages Obtained by dividing the provision for loans Risk-Adjusted Eciency ffi Ratio: mismatches of assets and liabilities (ALM - losses by NPL Creation in the quarter. Includes the Cost of Credit in Non-Interest Asset and Liability Management), terms, and Expenses. interest, foreign exchange and other rates, Cost of Credit over Total Risk and treasury trading, which manages Calculated by dividing the Cost of Credit by Recurring Net Income per Share proprietary portfolios and may assume the average Loan Portfolio of the last two Calculated based on the weighted average guiding positions, in compliance with the quarters. number of outstanding shares for the limits established by our risk appetite. period and includes stock splits when they take place. Itaú Unibanco Holding S.A. 34 Management Discussion & Analysis Glossary Glossary Executive Summary Operating Revenues Dividends and Interest on Own Mix of Products The sum of Managerial Financial Margin, Capital net of Taxes Change in the composition of credit risk Commissions and Fees and Result from Corresponds to the distribution of part of assets between periods. Insurance, Pension Plan and Premium the profits to stockholders, paid or Bonds Operations before Retained Claims provisioned, declared and posted in Average asset portfolio and Selling Expenses. Stockholders' Equity. Includes credit and private securities portfolio net of loans more than 60 days Managerial Financial Margin Market Capitalization overdue, while the balances do not include The sum of the Financial Margin with Obtained by multiplying the total number the effect of the average exchange rate Clients and the Financial Margin with of outstanding shares (common and non- variation in the periods. the Market. voting shares) by the average price of the non-voting share on the last trading day in Asset spreads Recurring Return on Average the period. Spreads variation on credit risk assets Equity – Annualized between periods. Obtained by dividing Recurring Net Income Tier I Capital Ratio by Average Stockholders’ Equity. The The sum of the Common Equity Tier I and Annualized average rate of financial resulting quotient is multiplied by the the Additional Tier I Capital, divided by the margin with clients number of periods in the year to derive the Total Risk Weighted Assets. Obtained by dividing the Financial Margin annualized rate. The calculation bases of with Clients by the average daily balances of returns were adjusted by the amount of Cost of Credit spread-sensitive operations, working capital dividends proposed after the balance sheet Composed of Result from Loan Losses, and others. The quotient of this division is closing dates, which have not yet been Impairment and Discounts Granted. divided by the number of calendar days in approved in annual stockholders' or Board the quarter and meetings. annualized (rising to 360) to obtain the annual rate. Managerial Financial Margin Recurring Return on Average Assets – Annualized Obtained by dividing Recurring Net Income Financial margin with clients Credit Quality by Average Assets. Consists of spread-sensitive operations, working capital and others. Spread-sensitive NPL Ratio (over 90 days) Coverage Ratio operations are: (i) the assets margin, which is Calculated by dividing the balance of non- Obtained by dividing the total allowance the difference between the amount performing loans over 90 days by total loan balance by the balance of operations more received in loan operations and corporate portfolio. Loans more than 90 days overdue than 90 days overdue. securities and the cost of money charged by include the total balance of transactions treasury banking and (ii) the liabilities with at least one installment more than 90 Efficiency Ratio margin, which is the difference between the days overdue. Obtained by dividing Non-Interest Expenses cost of funding and the amount received by the sum of Managerial Financial Margin, from treasury banking. Working capital NPL Creation Commissions and Fees, Result of Insurance, margin is the interest on working capital at The balance of loans that became overdue Pension Plan and Premium Bonds the Selic interest rate. for more than 90 days in the quarter. Operations and Tax Expenses (ISS, PIS, Cofins and Other Taxes). Financial margin with the market NPL Creation Coverage Includes treasury banking, which manages Obtained by dividing the provision for loans Risk-Adjusted Eciency ffi Ratio: mismatches of assets and liabilities (ALM - losses by NPL Creation in the quarter. Includes the Cost of Credit in Non-Interest Asset and Liability Management), terms, and Expenses. interest, foreign exchange and other rates, Cost of Credit over Total Risk and treasury trading, which manages Calculated by dividing the Cost of Credit by Recurring Net Income per Share proprietary portfolios and may assume the average Loan Portfolio of the last two Calculated based on the weighted average guiding positions, in compliance with the quarters. number of outstanding shares for the limits established by our risk appetite. period and includes stock splits when they take place. Itaú Unibanco Holding S.A. 34

Management Discussion & Analysis Glossary Results from Insurance, Pension Additional Tier I Capital Activities with the Market + Corporation Plan and Premium Bonds Consists of instruments of perpetual nature, The Activities with the Market + Corporation Underwriting Margin which meet eligibility requirements column presents the result from the capital The sum of earned premiums, retained surplus, excess subordinated debt and the claims and selling expenses. Tier I Capital net balance of tax assets and liabilities. It The sum of the Common Equity Tier I and also shows financial margin with the market, Combined Ratio the Additional Tier I Capital. costs of Treasury operations, the equity The sum of retained claims, selling pickup from companies not linked to each expenses, administrative expenses, other Tier II Capital segment and our interest in Porto Seguro. operating income and expenses, tax Consists of subordinated debt instruments expenses for ISS, PIS and Cofins and other with defined maturity dates that meet taxes divided by earned premiums. eligibility requirements. Our Shares Total Capital The sum of the Tier I and Tier II Capital. Book Value per Share Credit Portfolio Calculated by dividing the Stockholders' Loan-to-Value Total Risk Weighted Assets Equity at the last date of the period by the Ratio of the amount of the financing to the Consists of the sum of the portion related number of outstanding shares. value of the real estate property. to credit risk exposures (RWA ), to the CPAD market risk capital requirement (RWA ) MINT and to the operational risk capital requirement (RWA ). OPAD Funding Loan Portfolio over Gross Funding Obtained by dividing Loans by Gross Funding (Funding from Clients, Funds from Results by Business Acceptance and Issuance of Securities Segment Abroad, Borrowings and Others) at the end of the period. Retail Banking Consists of banking products and services to Currency both current account and non-current Includes cash, bank deposits of institutions account holders. Products and services without reserve requirements, foreign offered include: personal loans, credit cards, currency deposits in Brazil, foreign currency payroll loans, vehicle financing, mortgage deposits abroad, and cash and cash loans, insurance, pension plan and premium equivalents in foreign currency. bonds products, and acquiring services, among others. Wholesale Banking Consists of the activities of Itaú BBA, the unit Capital, Liquidity and responsible for commercial operations with Market Indicators large companies and for investment banking services, the activities of our units Value at Risk (VaR) abroad, and the products and services A statistical metric that quantifies the offered to high-net worth clients (Private maximum potential economic loss Banking) and to middle market companies expected in normal market conditions. and institutional clients. Common Equity Tier I The sum of social capital, reserves and retained earnings, less deductions and prudential adjustments. Itaú Unibanco Holding S.A. 35 Management Discussion & Analysis Glossary Results from Insurance, Pension Additional Tier I Capital Activities with the Market + Corporation Plan and Premium Bonds Consists of instruments of perpetual nature, The Activities with the Market + Corporation Underwriting Margin which meet eligibility requirements column presents the result from the capital The sum of earned premiums, retained surplus, excess subordinated debt and the claims and selling expenses. Tier I Capital net balance of tax assets and liabilities. It The sum of the Common Equity Tier I and also shows financial margin with the market, Combined Ratio the Additional Tier I Capital. costs of Treasury operations, the equity The sum of retained claims, selling pickup from companies not linked to each expenses, administrative expenses, other Tier II Capital segment and our interest in Porto Seguro. operating income and expenses, tax Consists of subordinated debt instruments expenses for ISS, PIS and Cofins and other with defined maturity dates that meet taxes divided by earned premiums. eligibility requirements. Our Shares Total Capital The sum of the Tier I and Tier II Capital. Book Value per Share Credit Portfolio Calculated by dividing the Stockholders' Loan-to-Value Total Risk Weighted Assets Equity at the last date of the period by the Ratio of the amount of the financing to the Consists of the sum of the portion related number of outstanding shares. value of the real estate property. to credit risk exposures (RWA ), to the CPAD market risk capital requirement (RWA ) MINT and to the operational risk capital requirement (RWA ). OPAD Funding Loan Portfolio over Gross Funding Obtained by dividing Loans by Gross Funding (Funding from Clients, Funds from Results by Business Acceptance and Issuance of Securities Segment Abroad, Borrowings and Others) at the end of the period. Retail Banking Consists of banking products and services to Currency both current account and non-current Includes cash, bank deposits of institutions account holders. Products and services without reserve requirements, foreign offered include: personal loans, credit cards, currency deposits in Brazil, foreign currency payroll loans, vehicle financing, mortgage deposits abroad, and cash and cash loans, insurance, pension plan and premium equivalents in foreign currency. bonds products, and acquiring services, among others. Wholesale Banking Consists of the activities of Itaú BBA, the unit Capital, Liquidity and responsible for commercial operations with Market Indicators large companies and for investment banking services, the activities of our units Value at Risk (VaR) abroad, and the products and services A statistical metric that quantifies the offered to high-net worth clients (Private maximum potential economic loss Banking) and to middle market companies expected in normal market conditions. and institutional clients. Common Equity Tier I The sum of social capital, reserves and retained earnings, less deductions and prudential adjustments. Itaú Unibanco Holding S.A. 35

Itaú Unibanco Holding S.A. 36 Itaú Unibanco Holding S.A. 36

Complete Financial Statements March 31, 2018 Itaú Unibanco Holding S.A. www.itau.com.br/investor-relations @Itaú @Itaú /Itaú /bancoitau facebook.com/Itaú Complete Financial Statements March 31, 2018 Itaú Unibanco Holding S.A. www.itau.com.br/investor-relations @Itaú @Itaú /Itaú /bancoitau facebook.com/Itaú

Vehicles Net Income Management Report in billions of Reais 9M19 Capital Surplus Trading % 2 % 4 21.1 Recurring 19.3 Services & 18.6 % 52 Insurance % 42 23.5% 1 21.7% 21.7% ROE (Global) Credit 9M17 9M18 9M19 Total Efficiency Assets Ratio % We ended September 2019 with R$1.7 trillion, and at the end of September 2018, we had R$1.6 45.5% 47.3% 46.0% 1,466 1,613 1,738 trillion in total assets. 9M17 9M189M19 Sept/30/17 Sept/30/18 Sept/30/19 +8.3% Credit Originations +10.6% 689.0 Credit (9M19 x 9M18) 2 636.4 Portfolio 83.3 575.2 68.7 Individuals 34.2 Credit 28.9 +22% 57.2 Cards 49.3 46.0 Personal Loans 26.0 18.0 15.2 Payroll Loans 44.8 44.6 41.2 13.9 Mortgage 38.3 Large 204.2 Companies 196.3 +24% Large 3 200.7 Companies Very Small, Small 84.0 67.5 and Middle Market Companies Very Small, Small 59.1 and Middle Market +34% Companies 171.0 172.7 Latin America 135.5 Sept/30/17 Sept/30/18 Sept/30/19 (1) Recurring return on average equity – Annualized. (2) Includes financial guarantees provided and securities. (3) Includes corporate securities.Vehicles Net Income Management Report in billions of Reais 9M19 Capital Surplus Trading % 2 % 4 21.1 Recurring 19.3 Services & 18.6 % 52 Insurance % 42 23.5% 1 21.7% 21.7% ROE (Global) Credit 9M17 9M18 9M19 Total Efficiency Assets Ratio % We ended September 2019 with R$1.7 trillion, and at the end of September 2018, we had R$1.6 45.5% 47.3% 46.0% 1,466 1,613 1,738 trillion in total assets. 9M17 9M189M19 Sept/30/17 Sept/30/18 Sept/30/19 +8.3% Credit Originations +10.6% 689.0 Credit (9M19 x 9M18) 2 636.4 Portfolio 83.3 575.2 68.7 Individuals 34.2 Credit 28.9 +22% 57.2 Cards 49.3 46.0 Personal Loans 26.0 18.0 15.2 Payroll Loans 44.8 44.6 41.2 13.9 Mortgage 38.3 Large 204.2 Companies 196.3 +24% Large 3 200.7 Companies Very Small, Small 84.0 67.5 and Middle Market Companies Very Small, Small 59.1 and Middle Market +34% Companies 171.0 172.7 Latin America 135.5 Sept/30/17 Sept/30/18 Sept/30/19 (1) Recurring return on average equity – Annualized. (2) Includes financial guarantees provided and securities. (3) Includes corporate securities.

Dear reader, This year we reinforce our aim of becoming an increasingly customer-centric company. For us, this is a commitment to 55 million customers in Brazil and overseas, in both the retail and wholesale areas, including individuals from a most diverse range of income profiles and age groups, from very small companies to ultra corporations. To serve them, we have a complete portfolio of products and services to address any financial needs and through 1 2 any service channel, whether physical or digital, of Itaú Unibanco, partnerships or open platforms . Itaú Itaú Large Ultra Ultra Securities Corretora Large Services Vehicles Retail Uniclass Investment Corporate Banking Corporate Insurance Uniclass Wealth Parcerias¹ Middle Management and Services Middle Products and Customer Private Plataformas pension segments services abertas Partnerships (Investimentos Pequenas Credit and e seguros) Empresas debit cards Very Small and Small Mortgages Companies Personnalité Open Private Bank platforms (investments Acquiring Private Bank and insurance) Payroll loans Personnalité Among others 55 million customers Since the beginning of the year, we have embarked on several initiatives that help us to improve user experience of our products and services, such as Itaú Escuta (Retail) and Callback (Wholesale) to closely listen to our customers and their needs. Retail (Itaú Escuta): 435 thousand Wholesale (Callback): over 3,500 3 telephone calls involving 7,800 telephone calls by 500 employees 3 employees (1) Examples of partnerships: Magazine Luiza, Walmart, Fiat, Latam, Ipiranga and Vivo. (2) Open insurance platform: growth of our insurance portfolio through supplementary products provided by other companies in the sector (Amil, Prudential, Chubb, Metlife, Icatu, Tempo Assist, Porto Seguro and Assurant). Open investments platform: customized selection of investment products of Itaú and other companies. (3) Between February and September 2019. 3 9Dear reader, This year we reinforce our aim of becoming an increasingly customer-centric company. For us, this is a commitment to 55 million customers in Brazil and overseas, in both the retail and wholesale areas, including individuals from a most diverse range of income profiles and age groups, from very small companies to ultra corporations. To serve them, we have a complete portfolio of products and services to address any financial needs and through 1 2 any service channel, whether physical or digital, of Itaú Unibanco, partnerships or open platforms . Itaú Itaú Large Ultra Ultra Securities Corretora Large Services Vehicles Retail Uniclass Investment Corporate Banking Corporate Insurance Uniclass Wealth Parcerias¹ Middle Management and Services Middle Products and Customer Private Plataformas pension segments services abertas Partnerships (Investimentos Pequenas Credit and e seguros) Empresas debit cards Very Small and Small Mortgages Companies Personnalité Open Private Bank platforms (investments Acquiring Private Bank and insurance) Payroll loans Personnalité Among others 55 million customers Since the beginning of the year, we have embarked on several initiatives that help us to improve user experience of our products and services, such as Itaú Escuta (Retail) and Callback (Wholesale) to closely listen to our customers and their needs. Retail (Itaú Escuta): 435 thousand Wholesale (Callback): over 3,500 3 telephone calls involving 7,800 telephone calls by 500 employees 3 employees (1) Examples of partnerships: Magazine Luiza, Walmart, Fiat, Latam, Ipiranga and Vivo. (2) Open insurance platform: growth of our insurance portfolio through supplementary products provided by other companies in the sector (Amil, Prudential, Chubb, Metlife, Icatu, Tempo Assist, Porto Seguro and Assurant). Open investments platform: customized selection of investment products of Itaú and other companies. (3) Between February and September 2019. 3 9

Additionally, we have the world’s largest voice transcription operation that enables us to listen to and analyze 100% of the calls received at our customer service hubs. With approximately 130 million calls a year, or 360 thousand calls a day, we have developed a voice transcription system that measures our customers’ level of satisfaction, maps opportunities and identifies each customer’s objective, anticipating solutions for each demand. And to improve our customers’ physical experience we have digitalized some of our branches. Apart from providing a complete self-service, we have made available new customer service stations where, for example, it is possible to hold a video conference. Joaquim Floriano Branch in São Paulo We are increasingly digital and, therefore, security is essential! We seek to ensure the application of the principles and guidelines on protecting intellectual property and our information, as well as that of our customers and the general public, by adhering to the applicable regulations and market practices. To that end, we are 100% aligned with the requisites of the regulatory bodies and we have increased the number of processes and controls by 70% in the last two years. Every six months we test 100% of our key security controls, and over 80% of our team is certified to the most important Information Security standards. Technology investment prepare us for the future of financial Investment in technology 17% accumulated (Basis 100: 2016) market. inflation (Broad Consumer Price Index) in the period Technology has also become an important pillar for ensuring that Itaú 160 Unibanco is up to date and ready to respond to the challenges from the 130 122 market and our customers. 100 100 101 106 111 Between January 2016 and December 2018, we estimate an increase of 2016 2017 2018 2019(E) 1 60% in our investments in technology, which shows our commitment to Non-interest Expenses (NIE) Investment in technology the advance of digital solutions and better experiences. NPS - Net Promoter Score We are aware that the future of our business depends on our customers’ satisfaction. With this in mind, in 2018, we challenged ourselves to improve the bank’s satisfaction indicators, setting a growth target of 10 points in the Global NPS by 2020. The implementation of a customer-centric culture has produced good results. In less than one year we have already seen an increase of 8 points. This positive development has set us thinking about even more ambitious targets for the future. Besides the Global NPS results, we have also noticed improvements in the Retail Bank for Individuals and Companies, with growth of 4 and 13 points, respectively. The Cards segment rose by 4 points, Private Bank by 12 points, while the greatest growth was in Acquiring, with 26 points. This progress is the outcome of a change in internal attitude and in how we develop procedures that enable us to listen to, understand and respond to a single question: What are our customers looking for? (1) For comparative purposes, we estimated growth of 11% in the bank’s costs, against accumulated inflation of 17% in the same period. 40Additionally, we have the world’s largest voice transcription operation that enables us to listen to and analyze 100% of the calls received at our customer service hubs. With approximately 130 million calls a year, or 360 thousand calls a day, we have developed a voice transcription system that measures our customers’ level of satisfaction, maps opportunities and identifies each customer’s objective, anticipating solutions for each demand. And to improve our customers’ physical experience we have digitalized some of our branches. Apart from providing a complete self-service, we have made available new customer service stations where, for example, it is possible to hold a video conference. Joaquim Floriano Branch in São Paulo We are increasingly digital and, therefore, security is essential! We seek to ensure the application of the principles and guidelines on protecting intellectual property and our information, as well as that of our customers and the general public, by adhering to the applicable regulations and market practices. To that end, we are 100% aligned with the requisites of the regulatory bodies and we have increased the number of processes and controls by 70% in the last two years. Every six months we test 100% of our key security controls, and over 80% of our team is certified to the most important Information Security standards. Technology investment prepare us for the future of financial Investment in technology 17% accumulated (Basis 100: 2016) market. inflation (Broad Consumer Price Index) in the period Technology has also become an important pillar for ensuring that Itaú 160 Unibanco is up to date and ready to respond to the challenges from the 130 122 market and our customers. 100 100 101 106 111 Between January 2016 and December 2018, we estimate an increase of 2016 2017 2018 2019(E) 1 60% in our investments in technology, which shows our commitment to Non-interest Expenses (NIE) Investment in technology the advance of digital solutions and better experiences. NPS - Net Promoter Score We are aware that the future of our business depends on our customers’ satisfaction. With this in mind, in 2018, we challenged ourselves to improve the bank’s satisfaction indicators, setting a growth target of 10 points in the Global NPS by 2020. The implementation of a customer-centric culture has produced good results. In less than one year we have already seen an increase of 8 points. This positive development has set us thinking about even more ambitious targets for the future. Besides the Global NPS results, we have also noticed improvements in the Retail Bank for Individuals and Companies, with growth of 4 and 13 points, respectively. The Cards segment rose by 4 points, Private Bank by 12 points, while the greatest growth was in Acquiring, with 26 points. This progress is the outcome of a change in internal attitude and in how we develop procedures that enable us to listen to, understand and respond to a single question: What are our customers looking for? (1) For comparative purposes, we estimated growth of 11% in the bank’s costs, against accumulated inflation of 17% in the same period. 40

Below we give the key indicators comprising this result: In R$ billions 9M19 9M18 Variation Result information 1 Banking Product 88.0 83.3 5.5% Managerial Financial Margin 55.2 51.7 6.7% Financial Margin with Customers 50.9 47.4 7.5% Financial margin with the Market 4.3 4.3 -1.6% Revenues from Services Provided 27.0 25.9 4.1% Revenues from Insurance, Pension Plans, and Savings Bonds transactions before 5.8 5.8 1.0% Expenses with Claims and Selling Expenses Cost of Credit (12.3) (10.7) 15.9% Non-Interest Expenses (37.6) (36.6) 2.8% Recurring Net Income 21.1 19.3 9.4% Net Book Income 19.1 18.8 1.8% Recurring Return on 23.5% 21.7% 190 bps 2 Annualized Average Equity 30/Sept/19 30/Sept/18 Variation Total Assets Total Assets 1,738 1,613 7.8% 3 Credit Portfolio 689.0 636.4 8.3% NPL Ratio (90 days) 2.9% 2.9% 0 bps 4 Tier 1 Capital Ratio 14.1% 14.8% 30/Sept/19 30/Sept/18 Variation 5 Shares Weighted Average Number of Outstanding Shares 9,738,576,007 9,718,025,960 0.2% Net Income per Share – R$ 1.96 1.93 1.6% Book Value per Share (Outstanding on 09/30) 12.90 12.87 0.2% 6 Net Dividends and Interest Own Capital Net of Taxes 11.0 7.6 45.9% 30/Sept/19 30/Sept/18 Variation Other information Branches and CBSs - Client Service Branches 4,704 4,917 -4.3% Physical 4,508 4,744 -5.0% Digital 196 173 13.3% -4.0% Employees 96,764 100,756 Brazil 83,536 87,070 -4.1% Overseas 13,228 13,686 -3.3% We wish to advise that 3.5 thousand employees signed up for the Voluntary Redundancy Program (PDV) announced in July, creating a non-recurring expense of R$2.4 billion. The objectives of the PDV are: (i) to offer a secure, voluntary career transition opportunity to those interested in leaving the bank, benefiting employees who meet certain pre-defined requisites; and (ii) to adapt our structures to market reality. (1) Banking Product is the sum on the Managerial Financial Margin, Revenues from Services and Revenues from Insurance, Pension Plans and Savings Bonds, before Claims and Sales Expenses. (2) The return is calculated by dividing the Recurring Net Income by the Average Stockholders’ Equity. The quotient of this division was multiplied by the number of periods in the year to arrive at the annual ratio. (3) Portfolio of Loans, Financial Guarantees Provided and Private Securities. (4) For the period of Sept/18 , considers the immediate and full application of the Basel III rules. (5) The figures for the 9M18 were adjusted by the 50% stock split. (6) JCP – Interest on Own Capital. Amounts paid/provisioned, declared and highlighted in the shareholders’ equity. 41 -70 bpsBelow we give the key indicators comprising this result: In R$ billions 9M19 9M18 Variation Result information 1 Banking Product 88.0 83.3 5.5% Managerial Financial Margin 55.2 51.7 6.7% Financial Margin with Customers 50.9 47.4 7.5% Financial margin with the Market 4.3 4.3 -1.6% Revenues from Services Provided 27.0 25.9 4.1% Revenues from Insurance, Pension Plans, and Savings Bonds transactions before 5.8 5.8 1.0% Expenses with Claims and Selling Expenses Cost of Credit (12.3) (10.7) 15.9% Non-Interest Expenses (37.6) (36.6) 2.8% Recurring Net Income 21.1 19.3 9.4% Net Book Income 19.1 18.8 1.8% Recurring Return on 23.5% 21.7% 190 bps 2 Annualized Average Equity 30/Sept/19 30/Sept/18 Variation Total Assets Total Assets 1,738 1,613 7.8% 3 Credit Portfolio 689.0 636.4 8.3% NPL Ratio (90 days) 2.9% 2.9% 0 bps 4 Tier 1 Capital Ratio 14.1% 14.8% 30/Sept/19 30/Sept/18 Variation 5 Shares Weighted Average Number of Outstanding Shares 9,738,576,007 9,718,025,960 0.2% Net Income per Share – R$ 1.96 1.93 1.6% Book Value per Share (Outstanding on 09/30) 12.90 12.87 0.2% 6 Net Dividends and Interest Own Capital Net of Taxes 11.0 7.6 45.9% 30/Sept/19 30/Sept/18 Variation Other information Branches and CBSs - Client Service Branches 4,704 4,917 -4.3% Physical 4,508 4,744 -5.0% Digital 196 173 13.3% -4.0% Employees 96,764 100,756 Brazil 83,536 87,070 -4.1% Overseas 13,228 13,686 -3.3% We wish to advise that 3.5 thousand employees signed up for the Voluntary Redundancy Program (PDV) announced in July, creating a non-recurring expense of R$2.4 billion. The objectives of the PDV are: (i) to offer a secure, voluntary career transition opportunity to those interested in leaving the bank, benefiting employees who meet certain pre-defined requisites; and (ii) to adapt our structures to market reality. (1) Banking Product is the sum on the Managerial Financial Margin, Revenues from Services and Revenues from Insurance, Pension Plans and Savings Bonds, before Claims and Sales Expenses. (2) The return is calculated by dividing the Recurring Net Income by the Average Stockholders’ Equity. The quotient of this division was multiplied by the number of periods in the year to arrive at the annual ratio. (3) Portfolio of Loans, Financial Guarantees Provided and Private Securities. (4) For the period of Sept/18 , considers the immediate and full application of the Basel III rules. (5) The figures for the 9M18 were adjusted by the 50% stock split. (6) JCP – Interest on Own Capital. Amounts paid/provisioned, declared and highlighted in the shareholders’ equity. 41 -70 bps

Comments about the Results - 9M19 x 9M18 In the first nine months of 2019, our Recurring Net Income rose by 9.4% over the same period of the previous year. This result was influenced by: 1 • Growth of 8.3% in the Credit Portfolio , where the projected interval for the year is 8% to 11%. The main drivers of this increase were: > Growth of 14.9% in our individual customer portfolio, driven by credit cards, personal loans and vehicle financing. > An increase of 24.5% in the very small, small and middle market companies’ segment. > Growth in credit origination for individual customers, large companies and very small, small and middle market companies was 22%, 24% and 34%, respectively. • Because of the growth of the portfolio, the Cost of Credit rose by 15.9% to R$12.3 billion, while the projected interval for the year is R$14.5 to R$17.5 billion. • Revenue from Services Provided and the Results from Insurance rose by 3.8%, with a projected interval for the year of 2% to 5%. The highlight of this growth are the revenues from issuing credit cards, fund administration, investment banking revenue and brokerage. • The Financial Margin with Customers rose by 7.5% due to the increase in the credit portfolios and the product mix. The projected interval for the year is 9% to 12%. • The Financial Margin with the Market declined by 1.6% to R$4.3 billion, with a projected interval for the year of R$4.6 to R $5.6 billion. This result is due to the impact of declining interest rates on the overhedge strategy for our overseas investments, partially offset by higher earnings from proprietary positions. • Non-Interest expenses grew by 2.8%, below the inflation rate for the period (IPCA of 2.9%), while the projected interval for the years is 3% to 6%. This increase was caused by higher personnel expenses referring to the collective bargaining agreement and the higher number of dismissals, primarily involving outsourced and data processing services. We were recognized as the institution with the best financial results between 2015 and 2018 at the “Empresas Mais” Awards, organized jointly by the O Estado de São Paulo newspaper and Broadcast in October. Without sacrificing the offer of quality, we are making efforts to offer more accessible solutions and services. In July and September, we transferred to our customers the full benefits of the reduction in the benchmark interest rate (Selic). The result of this was a reduction in the following lines of credit: personal loans, working capital and mortgages. Capital Management and Liquidity Capital management is an essential component of our management model, because through it we strive to optimize how we invest our shareholders’ funds and ensure the solidness of the bank. These objectives are reflected in our capital ratio and dividend distribution policies that stipulate a minimum Tier 1 capital ratio of 13.5%. Thus, distributions of earnings are conditional on this limit, the outlook for business growth, profitability for the year, mergers and acquisitions, and changes in the market, as well as fiscal and regulatory changes that could affect capital requirements. At the end of September 2019, our Tier 1 capital ratio was 14.1%. Regarding our liquidity, worthy of note are our short and long-term ratios, which exceed the minimum required by the Central Bank (100%). On September 30, 2019, the short-term ratio (LCR) stood at 151.9%, while the long-term ratio (NSFR) was 117.5%. On September 30, 2019, 75% of our funding was derived from retail deposits, which enjoy a diversified base, with an average term of 3 years, while 25% was provided by wholesale sources with an average period of 1.8 years. Funding from these sources has risen by 6% in the last 12 months. (1) Includes financial guarantees provided and private securities. 42Comments about the Results - 9M19 x 9M18 In the first nine months of 2019, our Recurring Net Income rose by 9.4% over the same period of the previous year. This result was influenced by: 1 • Growth of 8.3% in the Credit Portfolio , where the projected interval for the year is 8% to 11%. The main drivers of this increase were: > Growth of 14.9% in our individual customer portfolio, driven by credit cards, personal loans and vehicle financing. > An increase of 24.5% in the very small, small and middle market companies’ segment. > Growth in credit origination for individual customers, large companies and very small, small and middle market companies was 22%, 24% and 34%, respectively. • Because of the growth of the portfolio, the Cost of Credit rose by 15.9% to R$12.3 billion, while the projected interval for the year is R$14.5 to R$17.5 billion. • Revenue from Services Provided and the Results from Insurance rose by 3.8%, with a projected interval for the year of 2% to 5%. The highlight of this growth are the revenues from issuing credit cards, fund administration, investment banking revenue and brokerage. • The Financial Margin with Customers rose by 7.5% due to the increase in the credit portfolios and the product mix. The projected interval for the year is 9% to 12%. • The Financial Margin with the Market declined by 1.6% to R$4.3 billion, with a projected interval for the year of R$4.6 to R $5.6 billion. This result is due to the impact of declining interest rates on the overhedge strategy for our overseas investments, partially offset by higher earnings from proprietary positions. • Non-Interest expenses grew by 2.8%, below the inflation rate for the period (IPCA of 2.9%), while the projected interval for the years is 3% to 6%. This increase was caused by higher personnel expenses referring to the collective bargaining agreement and the higher number of dismissals, primarily involving outsourced and data processing services. We were recognized as the institution with the best financial results between 2015 and 2018 at the “Empresas Mais” Awards, organized jointly by the O Estado de São Paulo newspaper and Broadcast in October. Without sacrificing the offer of quality, we are making efforts to offer more accessible solutions and services. In July and September, we transferred to our customers the full benefits of the reduction in the benchmark interest rate (Selic). The result of this was a reduction in the following lines of credit: personal loans, working capital and mortgages. Capital Management and Liquidity Capital management is an essential component of our management model, because through it we strive to optimize how we invest our shareholders’ funds and ensure the solidness of the bank. These objectives are reflected in our capital ratio and dividend distribution policies that stipulate a minimum Tier 1 capital ratio of 13.5%. Thus, distributions of earnings are conditional on this limit, the outlook for business growth, profitability for the year, mergers and acquisitions, and changes in the market, as well as fiscal and regulatory changes that could affect capital requirements. At the end of September 2019, our Tier 1 capital ratio was 14.1%. Regarding our liquidity, worthy of note are our short and long-term ratios, which exceed the minimum required by the Central Bank (100%). On September 30, 2019, the short-term ratio (LCR) stood at 151.9%, while the long-term ratio (NSFR) was 117.5%. On September 30, 2019, 75% of our funding was derived from retail deposits, which enjoy a diversified base, with an average term of 3 years, while 25% was provided by wholesale sources with an average period of 1.8 years. Funding from these sources has risen by 6% in the last 12 months. (1) Includes financial guarantees provided and private securities. 42

We are committed to disclose useful, simple and objective information to investors, customers, capital market analysts and shareholders. Thus, we held 16 public meetings in 2019, with the participation of 3,000 people, up by 23.4% over 2018. 1 th In September, we held our 24 Apimec São Paulo 2019 meeting, with a record attendance of 791 guests, 2019 as well as 284 online participants. During the meeting, the co-chairmen of our Board of Directors were apimec interviewed and commented on the ten years of the merger between Itaú and Unibanco and the bank’s CYCLE prospects for the future. Members of our Executive Committee discussed the results, customer satisfaction, investment in technology and digital strategy. In September 2019, we strengthened our sustainability stance at the United Nations General Assembly (UN) in New York where we signed The UN Principles for Responsible Banking. In order to ensure that these principles are met, we launched the 8 commitments of positive impact at our Apimec São Paulo meeting. These are: 1. Financing in Positive Impact Sectors; 5. Transparecy in Communication; 2. Responsible Investment; 6. Ethics in Relationships and Business; 3. Inclusion and Entrepreneurship; 7. Inclusive Management; and 4. Financial Citizenship; 8. Responsible Management. th For the 20 consecutive year, we were chosen to comprise the portfolio of the 2019/2020 Dow Jones Sustainability World Index (DJSI World). In this edition, we received the best evaluation in the banking sector in the issues: Environmental Reporting, Contributor to Public Policies, Financial Stability and Systemic Risk, Anti-Crime Policies and Measures and Financial Inclusion. We were also selected to comprise the portfolio of the Dow Jones Sustainability Emerging Markets Index. On 09/30, we had 239.3 thousand shareholders, an increase of 97.5% over December 2017. Average Daily Trading Volume of Itaú Unibanco Shares (R$ millions) Our shares continue to trade with a high liquidity rate, with an increase of 59% in the average daily volume traded on the exchanges since 2017. In the same period, worthy of note is the growth of 68% in the B3 share, reaching R$743 million. Currently 53% of the average daily volume traded involves B3, and 47% on the NYSE. +59% 1,390 1,253 874 743 53% 653 442 647 47% 600 432 2017 2018 9M19 B3 (ON+PN) NYSE (ADR) (1) The event was broadcast live in Portuguese and English, and the video is available on our Investor Relations website www.itau.com.br/investor-relations. 43We are committed to disclose useful, simple and objective information to investors, customers, capital market analysts and shareholders. Thus, we held 16 public meetings in 2019, with the participation of 3,000 people, up by 23.4% over 2018. 1 th In September, we held our 24 Apimec São Paulo 2019 meeting, with a record attendance of 791 guests, 2019 as well as 284 online participants. During the meeting, the co-chairmen of our Board of Directors were apimec interviewed and commented on the ten years of the merger between Itaú and Unibanco and the bank’s CYCLE prospects for the future. Members of our Executive Committee discussed the results, customer satisfaction, investment in technology and digital strategy. In September 2019, we strengthened our sustainability stance at the United Nations General Assembly (UN) in New York where we signed The UN Principles for Responsible Banking. In order to ensure that these principles are met, we launched the 8 commitments of positive impact at our Apimec São Paulo meeting. These are: 1. Financing in Positive Impact Sectors; 5. Transparecy in Communication; 2. Responsible Investment; 6. Ethics in Relationships and Business; 3. Inclusion and Entrepreneurship; 7. Inclusive Management; and 4. Financial Citizenship; 8. Responsible Management. th For the 20 consecutive year, we were chosen to comprise the portfolio of the 2019/2020 Dow Jones Sustainability World Index (DJSI World). In this edition, we received the best evaluation in the banking sector in the issues: Environmental Reporting, Contributor to Public Policies, Financial Stability and Systemic Risk, Anti-Crime Policies and Measures and Financial Inclusion. We were also selected to comprise the portfolio of the Dow Jones Sustainability Emerging Markets Index. On 09/30, we had 239.3 thousand shareholders, an increase of 97.5% over December 2017. Average Daily Trading Volume of Itaú Unibanco Shares (R$ millions) Our shares continue to trade with a high liquidity rate, with an increase of 59% in the average daily volume traded on the exchanges since 2017. In the same period, worthy of note is the growth of 68% in the B3 share, reaching R$743 million. Currently 53% of the average daily volume traded involves B3, and 47% on the NYSE. +59% 1,390 1,253 874 743 53% 653 442 647 47% 600 432 2017 2018 9M19 B3 (ON+PN) NYSE (ADR) (1) The event was broadcast live in Portuguese and English, and the video is available on our Investor Relations website www.itau.com.br/investor-relations. 43

Evolution of R$100 invested in our preferred shares (ITUB4) on the date prior to the announcement of the merger (10/31/2008), until 09/30/2019 The graph below shows the evolution of investments from the day preceding the announcement of the merger (October 31, 2008), until September 30, 2019, comparing the price of our preferred share (ITUB4), with and without reinvestment of dividends, with the performance of the São Paulo Stock Exchange Index (Ibovespa) and the Interbank Certificate of Deposit (CDI) rate. 594 363 282 281 197 100 Oct-08 Sept-09 Sept-10 Sept-11 Sept-12 Sept-13 Sept-14 Sept-15 Sept-16 Sept-17 Sept-18 Sept-19 ITUB4 - Without dividend reinvestiment ITUB4 - With dividend reinvestiment CDI Ibovespa Dollar As an example, a shareholder who purchased R$100 in shares at the end of October 2008 and reinvested the dividends from those shares would, at the end of September 2019, have an amount of R$594, meaning double the return on the CDI rate in the same period (R$282). On the other hand, had the shareholder hot reinvested the dividends, the return would have reached R$363. Acknowledgements We wish to thank our employees for their commitment and dedication that has enabled us to leverage sound results in the market, and to our customers and shareholders for the interest and trust they have placed in us and which motivate us to always do our best. (Approved at the Meeting of the board of Directors on November 4, 2019). 44Evolution of R$100 invested in our preferred shares (ITUB4) on the date prior to the announcement of the merger (10/31/2008), until 09/30/2019 The graph below shows the evolution of investments from the day preceding the announcement of the merger (October 31, 2008), until September 30, 2019, comparing the price of our preferred share (ITUB4), with and without reinvestment of dividends, with the performance of the São Paulo Stock Exchange Index (Ibovespa) and the Interbank Certificate of Deposit (CDI) rate. 594 363 282 281 197 100 Oct-08 Sept-09 Sept-10 Sept-11 Sept-12 Sept-13 Sept-14 Sept-15 Sept-16 Sept-17 Sept-18 Sept-19 ITUB4 - Without dividend reinvestiment ITUB4 - With dividend reinvestiment CDI Ibovespa Dollar As an example, a shareholder who purchased R$100 in shares at the end of October 2008 and reinvested the dividends from those shares would, at the end of September 2019, have an amount of R$594, meaning double the return on the CDI rate in the same period (R$282). On the other hand, had the shareholder hot reinvested the dividends, the return would have reached R$363. Acknowledgements We wish to thank our employees for their commitment and dedication that has enabled us to leverage sound results in the market, and to our customers and shareholders for the interest and trust they have placed in us and which motivate us to always do our best. (Approved at the Meeting of the board of Directors on November 4, 2019). 44

Independent Auditor – CVM Instruction No. 381 Procedures Adopted by the Company Our operating policy, including subsidiaries, when contracting non-external audit-related services from our independent auditors, is based on applicable regulations and internationally accepted principles that protect the independence of the auditors. These principles state that: (a) the auditors must not audit their own work, (b) the auditors must not hold managerial positions at their clients, and (c) the auditors must not promote their clients’ interests. In the period from January to September 2019, we did not contract from the independent auditors and their related parties, services unrelated to the external audit in an amount exceeding 5% of the total fees for external audit services. As per CVM Instruction No. 381, we list below the other services provided and the dates on which they were contracted: • January 3, 18 and 31, April 11 and 26 – review of the calculations and settlement of taxes and compliance with tax regulations; • March 8 and April 23 – acquisition of technical materials and training; • April 26 – review, required by the regulators, of the study into the impact of new accounting regulations; • September 23 – review of the consultation to the taxation authorities about tax aspects. Justification of the Independent Auditors – PricewaterhouseCoopers The provision of non-external audit-related services described above does not affect either the independence or the objectivity in conducting external audit examinations at Itaú Unibanco and its subsidiaries. The policy for providing Itaú Unibanco with non-external audit-related services is based on principles that protect the independent auditor’s independence, all of which were observed in providing said services, including their approval by the Audit Committee. Central Bank – Circular No. 3,068/01 We warrant having the financial capacity and the intention to hold until maturity securities classified in the category “Held until maturity”, amounting to R$39.5 billion, representing 7.7% of the total securities and derivative financial instruments in September 2019. International Financial Reporting Standards (IFRS) We are disclosing the full accounting statements in accordance with the international financial accounting standards (IFRS) on the same date as this publication, as per Official Circular CVM/SEP/01/13. The full accounting statements are available on the Investor Relations website (www.itau.com.br/investor-relations > Results Center). The Management’s Report and the Full Accounting Statements of Itaú Holding S.A. and of its subsidiaries for the period January to September 2019 abide by the rules established by Brazilian Company Law, the National Monetary Council (CMN), the Central Bank of Brazil (BACEN), the Brazilian Securities Exchange Commission (CVM), the National Council for Private Insurance (CNSP), the Superintendence for Private Insurance (SUSEP), the National Superintendence for Supplementary Pension Plans (PREVIC) and the recommendations of the International Accounting Standards Board (IASB). The information shown in this material is available on the Investor Relations (IR) website of Itaú Unibanco. Go to: www.itau.com.br/investor-relations > Results Center. 45Independent Auditor – CVM Instruction No. 381 Procedures Adopted by the Company Our operating policy, including subsidiaries, when contracting non-external audit-related services from our independent auditors, is based on applicable regulations and internationally accepted principles that protect the independence of the auditors. These principles state that: (a) the auditors must not audit their own work, (b) the auditors must not hold managerial positions at their clients, and (c) the auditors must not promote their clients’ interests. In the period from January to September 2019, we did not contract from the independent auditors and their related parties, services unrelated to the external audit in an amount exceeding 5% of the total fees for external audit services. As per CVM Instruction No. 381, we list below the other services provided and the dates on which they were contracted: • January 3, 18 and 31, April 11 and 26 – review of the calculations and settlement of taxes and compliance with tax regulations; • March 8 and April 23 – acquisition of technical materials and training; • April 26 – review, required by the regulators, of the study into the impact of new accounting regulations; • September 23 – review of the consultation to the taxation authorities about tax aspects. Justification of the Independent Auditors – PricewaterhouseCoopers The provision of non-external audit-related services described above does not affect either the independence or the objectivity in conducting external audit examinations at Itaú Unibanco and its subsidiaries. The policy for providing Itaú Unibanco with non-external audit-related services is based on principles that protect the independent auditor’s independence, all of which were observed in providing said services, including their approval by the Audit Committee. Central Bank – Circular No. 3,068/01 We warrant having the financial capacity and the intention to hold until maturity securities classified in the category “Held until maturity”, amounting to R$39.5 billion, representing 7.7% of the total securities and derivative financial instruments in September 2019. International Financial Reporting Standards (IFRS) We are disclosing the full accounting statements in accordance with the international financial accounting standards (IFRS) on the same date as this publication, as per Official Circular CVM/SEP/01/13. The full accounting statements are available on the Investor Relations website (www.itau.com.br/investor-relations > Results Center). The Management’s Report and the Full Accounting Statements of Itaú Holding S.A. and of its subsidiaries for the period January to September 2019 abide by the rules established by Brazilian Company Law, the National Monetary Council (CMN), the Central Bank of Brazil (BACEN), the Brazilian Securities Exchange Commission (CVM), the National Council for Private Insurance (CNSP), the Superintendence for Private Insurance (SUSEP), the National Superintendence for Supplementary Pension Plans (PREVIC) and the recommendations of the International Accounting Standards Board (IASB). The information shown in this material is available on the Investor Relations (IR) website of Itaú Unibanco. Go to: www.itau.com.br/investor-relations > Results Center. 45

ITAÚ UNIBANCO HOLDING S.A. BOARD OF DIRECTORS BOARD OF EXECUTIVE OFFICERS Co-Chairmen Chief Executive Officer Pedro Moreira Salles Candido Botelho Bracher Roberto Egydio Setubal General Directors Members Caio Ibrahim David Alfredo Egydio Setubal Márcio de Andrade Schettini Ana Lúcia de Mattos Barretto Villela Fábio Colletti Barbosa Executive Vice-Presidents Gustavo Jorge Laboissière Loyola André Sapoznik João Moreira Salles Claudia Politanski José Galló Milton Maluhy Filho Marco Ambrogio Crespi Bonomi Pedro Luiz Bodin de Moraes Ricardo Villela Marino Executive Officers (*) Alexsandro Broedel Lopes Fernando Barçante Tostes Malta Leila Cristiane Barboza Braga de Melo Paulo Sergio Miron AUDIT COMMITTEE Chairman Officers Gustavo Jorge Laboissière Loyola Adriano Cabral Volpini Álvaro Felipe Rizzi Rodrigues Andre Balestrin Cestare Members Emerson Macedo Bortoloto Antonio Carlos Barbosa de Oliveira Gilberto Frussa Antonio Francisco de Lima Neto José Virgilio Vita Neto Diego Fresco Gutierrez Renato Barbosa do Nascimento Maria Helena dos Santos Fernandes de Santana Rodrigo Luís Rosa Couto Rogério Paulo Calderón Peres Sergio Mychkis Goldstein Tatiana Grecco Tom Gouvêa Gerth FISCAL COUNCIL Chairman José Caruso Cruz Henriques Members Alkimar Ribeiro Moura Eduardo Azevedo do Valle (*) Group Executive Finance Director and Head of Investor Relations. Accountant Arnaldo Alves dos Santos CRC - 1SP - 210.058/O-3 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 46 ITAÚ UNIBANCO HOLDING S.A. BOARD OF DIRECTORS BOARD OF EXECUTIVE OFFICERS Co-Chairmen Chief Executive Officer Pedro Moreira Salles Candido Botelho Bracher Roberto Egydio Setubal General Directors Members Caio Ibrahim David Alfredo Egydio Setubal Márcio de Andrade Schettini Ana Lúcia de Mattos Barretto Villela Fábio Colletti Barbosa Executive Vice-Presidents Gustavo Jorge Laboissière Loyola André Sapoznik João Moreira Salles Claudia Politanski José Galló Milton Maluhy Filho Marco Ambrogio Crespi Bonomi Pedro Luiz Bodin de Moraes Ricardo Villela Marino Executive Officers (*) Alexsandro Broedel Lopes Fernando Barçante Tostes Malta Leila Cristiane Barboza Braga de Melo Paulo Sergio Miron AUDIT COMMITTEE Chairman Officers Gustavo Jorge Laboissière Loyola Adriano Cabral Volpini Álvaro Felipe Rizzi Rodrigues Andre Balestrin Cestare Members Emerson Macedo Bortoloto Antonio Carlos Barbosa de Oliveira Gilberto Frussa Antonio Francisco de Lima Neto José Virgilio Vita Neto Diego Fresco Gutierrez Renato Barbosa do Nascimento Maria Helena dos Santos Fernandes de Santana Rodrigo Luís Rosa Couto Rogério Paulo Calderón Peres Sergio Mychkis Goldstein Tatiana Grecco Tom Gouvêa Gerth FISCAL COUNCIL Chairman José Caruso Cruz Henriques Members Alkimar Ribeiro Moura Eduardo Azevedo do Valle (*) Group Executive Finance Director and Head of Investor Relations. Accountant Arnaldo Alves dos Santos CRC - 1SP - 210.058/O-3 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 46

ITAÚ UNIBANCO S.A. General Directors Officers (continued) Caio Ibrahim David Eduardo Cardoso Armonia Márcio de Andrade Schettini Eduardo Corsetti Eduardo Esteban Mato Amorin Eduardo Estefan Ventura Eduardo Hiroyuki Miyaki Executive Vice-Presidents Eduardo Queiroz Tracanella André Sapoznik Emerson Savi Junqueira Claudia Politanski Emilio Pedro Borsari Filho Milton Maluhy Filho Eric André Altafim Estevão Carcioffi Lazanha Fabiana Pascon Bastos Fábio Napoli Felipe de Souza Wey Executive Officers Felipe Weil Wilberg Alexsandro Broedel Lopes Fernando Della Torre Chagas André Luís Teixeira Rodrigues Fernando Julião de Souza Amaral Carlos Eduardo Monico Fernando Kontopp de Oliveira Carlos Fernando Rossi Constantini Flávio Delfino Júnior Carlos Orestes Vanzo Flavio Ribeiro Iglesias Christian George Egan Francisco Vieira Cordeiro Neto Fernando Barçante Tostes Malta Gabriel Guedes Pinto Teixeira Flávio Augusto Aguiar de Souza Gabriela Rodrigues Ferreira João Marcos Pequeno de Biase Gilberto Frussa Leila Cristiane Barboza Braga de Melo Guilhermo Luiz Bressane Gomes Luís Eduardo Gross Siqueira Cunha Gustavo Trovisco Lopes Marcelo Kopel José de Castro Araújo Rudge Filho Marcos Antônio Vaz de Magalhães José Virgilio Vita Neto Ricardo Ribeiro Mandacaru Guerra Laila Regina de Oliveira Pena de Antonio Sergio Guillinet Fajerman Leandro Roberto Dominiquini Leon Gottlieb Lineu Carlos Ferraz de Andrade Livia Martines Chanes Luís Fernando Staub Luiz Felipe Monteiro Arcuri Trevisan Officers Luiz Fernando Butori Reis Santos Adriana Maria dos Santos Luiz Severiano Ribeiro Adriano Cabral Volpini Manoela Varanda Adriano Maciel Pedroti Marcio Luis Domingues da Silva Alessandro Anastasi Marco Antonio Sudano Álvaro Felipe Rizzi Rodrigues Mário Lúcio Gurgel Pires Ana Lúcia Gomes de Sá Drumond Pardo Mario Magalhães Carvalho Mesquita Andre Balestrin Cestare Matias Granata André Henrique Caldeira Daré Milena de Castilho Lefon Martins Andrea Carpes Blanco Moisés João do Nascimento Andréa Matteucci Pinotti Pedro Barros Barreto Fernandes Atilio Luiz Magila Albiero Junior Renato Cesar Mansur Badi Maani Shaikhzadeh Ricardo Nuno Delgado Gonçalves Bruno Bianchi Ricardo Urquijo Lazcano Bruno Machado Ferreira Rodnei Bernardino de Souza Carlos Augusto Salamonde Rodrigo Jorge Dantas de Oliveira Carlos Eduardo Mori Peyser Rodrigo Luís Rosa Couto Carlos Henrique Donegá Aidar Rodrigo Rodrigues Baia Carlos Rodrigo Formigari Rogerio Vasconcelos Costa Cesar Ming Pereira da Silva Rubens Luiz dos Santos Henriques Cesar Padovan Sergio Mychkis Goldstein Cintia Carbonieri Fleury de Camargo Tatiana Grecco Claudio César Sanches Thales Ferreira Silva Cláudio José Coutinho Arromatte Thiago Luiz Charnet Ellero Cristiane Magalhães Teixeira Portella Valéria Aparecida Marretto Cristiano Guimarães Duarte Vanessa Lopes Reisner Wagner Bettini Sanches Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 47 ITAÚ UNIBANCO S.A. General Directors Officers (continued) Caio Ibrahim David Eduardo Cardoso Armonia Márcio de Andrade Schettini Eduardo Corsetti Eduardo Esteban Mato Amorin Eduardo Estefan Ventura Eduardo Hiroyuki Miyaki Executive Vice-Presidents Eduardo Queiroz Tracanella André Sapoznik Emerson Savi Junqueira Claudia Politanski Emilio Pedro Borsari Filho Milton Maluhy Filho Eric André Altafim Estevão Carcioffi Lazanha Fabiana Pascon Bastos Fábio Napoli Felipe de Souza Wey Executive Officers Felipe Weil Wilberg Alexsandro Broedel Lopes Fernando Della Torre Chagas André Luís Teixeira Rodrigues Fernando Julião de Souza Amaral Carlos Eduardo Monico Fernando Kontopp de Oliveira Carlos Fernando Rossi Constantini Flávio Delfino Júnior Carlos Orestes Vanzo Flavio Ribeiro Iglesias Christian George Egan Francisco Vieira Cordeiro Neto Fernando Barçante Tostes Malta Gabriel Guedes Pinto Teixeira Flávio Augusto Aguiar de Souza Gabriela Rodrigues Ferreira João Marcos Pequeno de Biase Gilberto Frussa Leila Cristiane Barboza Braga de Melo Guilhermo Luiz Bressane Gomes Luís Eduardo Gross Siqueira Cunha Gustavo Trovisco Lopes Marcelo Kopel José de Castro Araújo Rudge Filho Marcos Antônio Vaz de Magalhães José Virgilio Vita Neto Ricardo Ribeiro Mandacaru Guerra Laila Regina de Oliveira Pena de Antonio Sergio Guillinet Fajerman Leandro Roberto Dominiquini Leon Gottlieb Lineu Carlos Ferraz de Andrade Livia Martines Chanes Luís Fernando Staub Luiz Felipe Monteiro Arcuri Trevisan Officers Luiz Fernando Butori Reis Santos Adriana Maria dos Santos Luiz Severiano Ribeiro Adriano Cabral Volpini Manoela Varanda Adriano Maciel Pedroti Marcio Luis Domingues da Silva Alessandro Anastasi Marco Antonio Sudano Álvaro Felipe Rizzi Rodrigues Mário Lúcio Gurgel Pires Ana Lúcia Gomes de Sá Drumond Pardo Mario Magalhães Carvalho Mesquita Andre Balestrin Cestare Matias Granata André Henrique Caldeira Daré Milena de Castilho Lefon Martins Andrea Carpes Blanco Moisés João do Nascimento Andréa Matteucci Pinotti Pedro Barros Barreto Fernandes Atilio Luiz Magila Albiero Junior Renato Cesar Mansur Badi Maani Shaikhzadeh Ricardo Nuno Delgado Gonçalves Bruno Bianchi Ricardo Urquijo Lazcano Bruno Machado Ferreira Rodnei Bernardino de Souza Carlos Augusto Salamonde Rodrigo Jorge Dantas de Oliveira Carlos Eduardo Mori Peyser Rodrigo Luís Rosa Couto Carlos Henrique Donegá Aidar Rodrigo Rodrigues Baia Carlos Rodrigo Formigari Rogerio Vasconcelos Costa Cesar Ming Pereira da Silva Rubens Luiz dos Santos Henriques Cesar Padovan Sergio Mychkis Goldstein Cintia Carbonieri Fleury de Camargo Tatiana Grecco Claudio César Sanches Thales Ferreira Silva Cláudio José Coutinho Arromatte Thiago Luiz Charnet Ellero Cristiane Magalhães Teixeira Portella Valéria Aparecida Marretto Cristiano Guimarães Duarte Vanessa Lopes Reisner Wagner Bettini Sanches Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 47

ITAÚ UNIBANCO HOLDING S.A. Consolidated Balance Sheet (Note 2a) (In thousands of Reais) Assets Note 09/30/2019 09/30/2018 Current assets 1,249,449,679 1,150,049,449 Cash 0 27,720,565 29,467,216 Short-term Interbank investments 3b and 4 2 72,741,482 3 20,005,736 Money market 0 2 40,398,644 289,178,229 Money market – Assets Guaranteeing Technical Provisions 8b 2,016,474 2,940,980 Interbank deposits 0 30,326,364 27,886,527 Securities and derivative financial instruments 3c, 3d and 5 353,958,062 299,388,794 Own portfolio 0 9 1,953,986 82,010,731 Subject to repurchase commitments 0 2 8,603,580 6,349,261 Pledged in guarantee 0 7,121,131 3,274,657 Securities under resale agreements with free movement 0 3 ,031,489 2,123,590 Deposited with the Central Bank of Brazil 0 3,743,073 2,927,414 Derivative financial instruments 0 1 4,631,610 16,933,637 Assets guaranteeing technical provisions 8b 204,873,193 185,769,504 Interbank accounts 0 130,730,454 1 25,700,556 Pending settlement 0 43,189,873 39,343,721 Central Bank of Brazil deposits 0 87,133,414 85,956,574 National Housing System (SFH) 0 3,597 7,269 Correspondents 0 39,204 34,057 Interbank onlending 0 364,366 358,935 Interbranch accounts 0 2 98,919 245,925 Loan, lease and other credit operations 6 309,134,926 2 59,492,594 Operations with credit granting characteristics 3e 327,386,786 275,668,959 (Provision for Loan Losses) 3f (18,251,860) ( 16,176,365) Other receivables 10a 152,647,877 1 13,565,546 Other assets 3g 2,217,394 2,183,082 Assets held for sale 0 1,241,973 1,454,415 (Valuation allowance) 0 ( 644,221) (666,519) Unearned reinsurance premiums 7 ,807 10,247 Prepaid expenses 3g and 10c 1,611,835 1,384,939 Long term receivables 0 4 54,475,799 4 28,077,957 Short-term Interbank investments 3b and 4 1,397,777 959,469 Money market 0 13,281 202,087 Interbank deposits 0 1,384,496 757,382 Securities and derivative financial instruments 3c, 3d and 5 1 56,698,393 1 28,871,110 Own portfolio 0 80,159,902 50,540,606 Subject to repurchase commitments 0 2 4,750,511 18,973,955 Pledged in guarantee 0 1,239,895 5,168,150 Securities under resale agreements with free movement 0 1 2,920,534 33,254,978 Deposited with the Central Bank of Brazil 623,797 567,104 Derivative financial instruments 0 2 6,242,389 11,707,932 Assets guaranteeing technical provisions 8b 10,761,365 8,658,385 Interbank accounts 0 22,176 40,687 Pending settlement 10,894 36,456 National Housing System (SFH) 1 1,282 4,231 Loan, lease and other credit operations 6 233,417,494 236,800,002 Operations with credit granting characteristics 3e 248,632,804 2 54,850,950 (Provision for Loan Losses) 3f (15,215,310) ( 18,050,948) Other receivables 10a 61,836,572 60,931,599 Other assets - Prepaid Expenses 3g and 10c 1,103,387 475,090 Permanent assets 0 34,413,752 35,034,249 Investments 3h 13,439,533 12,652,755 Investments in associates and joint ventures 0 13,163,710 12,332,627 Other investments 0 4 84,496 528,945 (Allowance for losses) 0 ( 208,673) (208,817) Real estate in use 3i and 12b l 6,386,713 6,300,547 Fixe assets for use 0 4,253,198 4,299,563 Other fixed assets 0 14,298,488 13,908,257 (Accumulated depreciation) 0 ( 12,164,973) (11,907,273) Goodwill and Intangible assets 3j, 3k and 12b ll 1 4,587,506 16,080,947 Goodwill 0 1 ,104,263 1,283,447 Intangible assets 0 25,342,885 24,194,301 (Accumulated amortization) 0 ( 11,859,642) ( 9,396,801) Total assets 1 ,738,339,230 1,613,161,655 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 48 ITAÚ UNIBANCO HOLDING S.A. Consolidated Balance Sheet (Note 2a) (In thousands of Reais) Assets Note 09/30/2019 09/30/2018 Current assets 1,249,449,679 1,150,049,449 Cash 0 27,720,565 29,467,216 Short-term Interbank investments 3b and 4 2 72,741,482 3 20,005,736 Money market 0 2 40,398,644 289,178,229 Money market – Assets Guaranteeing Technical Provisions 8b 2,016,474 2,940,980 Interbank deposits 0 30,326,364 27,886,527 Securities and derivative financial instruments 3c, 3d and 5 353,958,062 299,388,794 Own portfolio 0 9 1,953,986 82,010,731 Subject to repurchase commitments 0 2 8,603,580 6,349,261 Pledged in guarantee 0 7,121,131 3,274,657 Securities under resale agreements with free movement 0 3 ,031,489 2,123,590 Deposited with the Central Bank of Brazil 0 3,743,073 2,927,414 Derivative financial instruments 0 1 4,631,610 16,933,637 Assets guaranteeing technical provisions 8b 204,873,193 185,769,504 Interbank accounts 0 130,730,454 1 25,700,556 Pending settlement 0 43,189,873 39,343,721 Central Bank of Brazil deposits 0 87,133,414 85,956,574 National Housing System (SFH) 0 3,597 7,269 Correspondents 0 39,204 34,057 Interbank onlending 0 364,366 358,935 Interbranch accounts 0 2 98,919 245,925 Loan, lease and other credit operations 6 309,134,926 2 59,492,594 Operations with credit granting characteristics 3e 327,386,786 275,668,959 (Provision for Loan Losses) 3f (18,251,860) ( 16,176,365) Other receivables 10a 152,647,877 1 13,565,546 Other assets 3g 2,217,394 2,183,082 Assets held for sale 0 1,241,973 1,454,415 (Valuation allowance) 0 ( 644,221) (666,519) Unearned reinsurance premiums 7 ,807 10,247 Prepaid expenses 3g and 10c 1,611,835 1,384,939 Long term receivables 0 4 54,475,799 4 28,077,957 Short-term Interbank investments 3b and 4 1,397,777 959,469 Money market 0 13,281 202,087 Interbank deposits 0 1,384,496 757,382 Securities and derivative financial instruments 3c, 3d and 5 1 56,698,393 1 28,871,110 Own portfolio 0 80,159,902 50,540,606 Subject to repurchase commitments 0 2 4,750,511 18,973,955 Pledged in guarantee 0 1,239,895 5,168,150 Securities under resale agreements with free movement 0 1 2,920,534 33,254,978 Deposited with the Central Bank of Brazil 623,797 567,104 Derivative financial instruments 0 2 6,242,389 11,707,932 Assets guaranteeing technical provisions 8b 10,761,365 8,658,385 Interbank accounts 0 22,176 40,687 Pending settlement 10,894 36,456 National Housing System (SFH) 1 1,282 4,231 Loan, lease and other credit operations 6 233,417,494 236,800,002 Operations with credit granting characteristics 3e 248,632,804 2 54,850,950 (Provision for Loan Losses) 3f (15,215,310) ( 18,050,948) Other receivables 10a 61,836,572 60,931,599 Other assets - Prepaid Expenses 3g and 10c 1,103,387 475,090 Permanent assets 0 34,413,752 35,034,249 Investments 3h 13,439,533 12,652,755 Investments in associates and joint ventures 0 13,163,710 12,332,627 Other investments 0 4 84,496 528,945 (Allowance for losses) 0 ( 208,673) (208,817) Real estate in use 3i and 12b l 6,386,713 6,300,547 Fixe assets for use 0 4,253,198 4,299,563 Other fixed assets 0 14,298,488 13,908,257 (Accumulated depreciation) 0 ( 12,164,973) (11,907,273) Goodwill and Intangible assets 3j, 3k and 12b ll 1 4,587,506 16,080,947 Goodwill 0 1 ,104,263 1,283,447 Intangible assets 0 25,342,885 24,194,301 (Accumulated amortization) 0 ( 11,859,642) ( 9,396,801) Total assets 1 ,738,339,230 1,613,161,655 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 48

ITAÚ UNIBANCO HOLDING S.A. Consolidated Balance Sheet (Note 2a) (In thousands of Reais) Liabilities Note 09/30/2019 09/30/2018 Current liabilities 969,280,092 8 63,270,527 Deposits 3b and 7b 334,111,525 3 01,132,861 Demand deposits - 82,244,851 7 4,816,713 Savings deposits - 1 40,122,240 132,373,654 Interbank deposits - 1,274,640 3,034,060 Time deposits - 1 10,464,486 90,905,746 Other deposits - 5 ,308 2 ,688 Deposits received under securities repurchase agreements 3b and 7c 245,455,016 252,640,301 Own portfolio - 5 6,597,872 4 6,118,273 Third-party portfolio - 1 81,098,933 1 89,685,299 Free portfolio - 7 ,758,211 1 6,836,729 Funds from acceptances and issuance of securities 3b and 7d 50,830,386 3 9,951,699 Real estate, mortgage, credit and similar notes - 4 2,398,433 3 1,134,623 Foreign loans through securities - 7,645,986 6 ,847,008 Funding from structured operations certificates 7 85,967 1,970,068 Interbank accounts - 5 2,778,510 43,345,384 Pending settlement - 49,146,323 4 1,274,192 Correspondents - 3 ,632,187 2 ,071,192 Interbranch accounts - 7,538,567 5 ,783,226 Third-party funds in transit - 7 ,511,198 5,770,292 Internal transfer of funds - 27,369 12,934 Borrowing and onlending 3b and 7e 6 7,468,222 4 6,360,218 Borrowing - 59,168,045 38,535,265 Onlending - 8,300,177 7,824,953 Derivative financial instruments 3d and 5f 16,836,394 17,926,079 Technical provision for insurance, pension plan and capitalization 3m and 8a 4,253,477 7 ,212,694 Other liabilities - 1 90,007,995 148,918,065 Subordinated debt 7f 4,322,120 3 ,284,900 Sundry 10d 185,685,875 1 45,633,165 Long term liabilities - 6 27,896,090 6 08,592,289 Deposits 3b and 7b 1 56,726,486 153,418,710 Interbank deposits - 162,160 77,397 Time deposits - 156,564,326 1 53,341,313 Deposits received under securities repurchase agreements 3b and 7c 5 1,047,827 61,934,973 Own portfolio - 3,510,570 7 ,576,452 Free portfolio - 4 7,537,257 5 4,358,521 Funds from acceptances and issuance of securities 3b and 7d 80,053,043 7 8,732,677 Real estate, mortgage, credit and similar notes - 4 1,565,030 40,122,055 Foreign loans through securities - 3 7,797,347 37,479,783 Funding from structured operations certificates 6 90,666 1 ,130,839 Borrowing and onlending 3b and 7e 10,301,556 20,897,488 Borrowing - 5 ,355,696 9,704,961 Onlending - 4,945,860 11,192,527 Derivative financial instruments 3d and 5f 3 0,604,193 1 3,901,091 Technical provision for insurance, pension plan and capitalization 3m and 8a 211,806,742 1 89,535,201 Other liabilities - 8 7,356,243 90,172,149 Subordinated debt 7f 39,623,615 4 2,450,500 Debt instruments eligible as capital 7f 11,513,064 7,985,434 Sundry 10d 3 6,219,564 3 9,736,215 Deferred income 3q 2,632,244 2,602,643 Capital - 97,148,000 9 7,148,000 Capital reserves - 1,847,973 1,732,340 Revenue reserves - 3 0,060,922 31,741,787 Equity valuation adjustment 3c, 3d and 13e (2,030,745) (3,623,962) (Treasury shares) - ( 1,306,923) ( 1,962,762) Total stockholders' equity of controlling shareholders 13 1 25,719,227 1 25,035,403 Non-controlling interests 13f 12,811,577 13,660,793 Total stockholders' equity 1 38,530,804 138,696,196 Total liabilities and stockholders' equity 1,738,339,230 1 ,613,161,655 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 49 ITAÚ UNIBANCO HOLDING S.A. Consolidated Balance Sheet (Note 2a) (In thousands of Reais) Liabilities Note 09/30/2019 09/30/2018 Current liabilities 969,280,092 8 63,270,527 Deposits 3b and 7b 334,111,525 3 01,132,861 Demand deposits - 82,244,851 7 4,816,713 Savings deposits - 1 40,122,240 132,373,654 Interbank deposits - 1,274,640 3,034,060 Time deposits - 1 10,464,486 90,905,746 Other deposits - 5 ,308 2 ,688 Deposits received under securities repurchase agreements 3b and 7c 245,455,016 252,640,301 Own portfolio - 5 6,597,872 4 6,118,273 Third-party portfolio - 1 81,098,933 1 89,685,299 Free portfolio - 7 ,758,211 1 6,836,729 Funds from acceptances and issuance of securities 3b and 7d 50,830,386 3 9,951,699 Real estate, mortgage, credit and similar notes - 4 2,398,433 3 1,134,623 Foreign loans through securities - 7,645,986 6 ,847,008 Funding from structured operations certificates 7 85,967 1,970,068 Interbank accounts - 5 2,778,510 43,345,384 Pending settlement - 49,146,323 4 1,274,192 Correspondents - 3 ,632,187 2 ,071,192 Interbranch accounts - 7,538,567 5 ,783,226 Third-party funds in transit - 7 ,511,198 5,770,292 Internal transfer of funds - 27,369 12,934 Borrowing and onlending 3b and 7e 6 7,468,222 4 6,360,218 Borrowing - 59,168,045 38,535,265 Onlending - 8,300,177 7,824,953 Derivative financial instruments 3d and 5f 16,836,394 17,926,079 Technical provision for insurance, pension plan and capitalization 3m and 8a 4,253,477 7 ,212,694 Other liabilities - 1 90,007,995 148,918,065 Subordinated debt 7f 4,322,120 3 ,284,900 Sundry 10d 185,685,875 1 45,633,165 Long term liabilities - 6 27,896,090 6 08,592,289 Deposits 3b and 7b 1 56,726,486 153,418,710 Interbank deposits - 162,160 77,397 Time deposits - 156,564,326 1 53,341,313 Deposits received under securities repurchase agreements 3b and 7c 5 1,047,827 61,934,973 Own portfolio - 3,510,570 7 ,576,452 Free portfolio - 4 7,537,257 5 4,358,521 Funds from acceptances and issuance of securities 3b and 7d 80,053,043 7 8,732,677 Real estate, mortgage, credit and similar notes - 4 1,565,030 40,122,055 Foreign loans through securities - 3 7,797,347 37,479,783 Funding from structured operations certificates 6 90,666 1 ,130,839 Borrowing and onlending 3b and 7e 10,301,556 20,897,488 Borrowing - 5 ,355,696 9,704,961 Onlending - 4,945,860 11,192,527 Derivative financial instruments 3d and 5f 3 0,604,193 1 3,901,091 Technical provision for insurance, pension plan and capitalization 3m and 8a 211,806,742 1 89,535,201 Other liabilities - 8 7,356,243 90,172,149 Subordinated debt 7f 39,623,615 4 2,450,500 Debt instruments eligible as capital 7f 11,513,064 7,985,434 Sundry 10d 3 6,219,564 3 9,736,215 Deferred income 3q 2,632,244 2,602,643 Capital - 97,148,000 9 7,148,000 Capital reserves - 1,847,973 1,732,340 Revenue reserves - 3 0,060,922 31,741,787 Equity valuation adjustment 3c, 3d and 13e (2,030,745) (3,623,962) (Treasury shares) - ( 1,306,923) ( 1,962,762) Total stockholders' equity of controlling shareholders 13 1 25,719,227 1 25,035,403 Non-controlling interests 13f 12,811,577 13,660,793 Total stockholders' equity 1 38,530,804 138,696,196 Total liabilities and stockholders' equity 1,738,339,230 1 ,613,161,655 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 49

ITAÚ UNIBANCO HOLDING S.A. Consolidated Statement of Income (Note 2a) (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Income related to financial operations 116,202,775 106,837,515 Loan, lease and other credit operations - 6 1,646,783 5 7,096,302 Securities and derivative financial instruments - 34,828,164 3 6,021,640 Financial income related to insurance, pension plan and capitalization operations 8c 13,399,354 7,499,333 Foreign exchange operations - 2 ,672,280 2 ,483,903 Compulsory deposits - 3,656,194 3 ,736,337 Expenses related to financial operations - (66,571,351) (64,883,700) Money market - (4 3,415,311) (49,019,654) Financial expenses on technical provisions for insurance, pension plan and capitalization 8c (1 2,933,282) (7,102,978) Borrowing and onlending 7e (10,222,758) (8,761,068) Income related to financial operations before loan and losses - 49,631,424 41,953,815 Result of provision for loan losses 6 (10,808,870) (8,126,393) Expenses for provision for loan losses - (13,950,493) (11,249,910) Income related to recovery of credits written off as loss - 3,141,623 3,123,517 Gross income related to financial operations - 38,822,554 33,827,422 Other operating revenues (expenses) - (13,345,344) (12,458,015) Banking service fees 10e 19,606,923 19,019,437 Income related to bank charges 10f 9 ,830,137 9 ,340,692 Result from insurance, pension plan and capitalization operations 8c 2,645,519 2,705,639 Personnel expenses 10g (20,582,679) (1 7,552,244) Other administrative expenses 10h (14,786,162) (1 4,583,676) Tax expenses 3p and 11a II (5,340,677) (4 ,639,179) Equity in earnings of affiliates, joint ventures and other investments 9 40,965 4 63,458 Other operating revenues 1,091,485 9 12,862 Other operating expenses 10i (6 ,750,855) (8 ,125,004) Operating income - 25,477,210 21,369,407 Non-operating income 6 2,569 7,480 Income before taxes on income and profit sharing - 25,539,779 21,376,887 Income tax and social contribution 3p and 11a I (5,844,436) (2,241,207) Due on operations for the period - (8,619,920) (6,415,233) Related to temporary differences - 2 ,775,484 4,174,026 Profit sharing – Management Members - Statutory 14b (265,761) (180,749) Non-controlling interests 13f (328,613) (1 83,364) Net income 19,100,969 18,771,567 Weighted average of the number of outstanding shares 13a 9,738,576,007 9,718,025,960 Net income per share – R$ 1.96 1.93 Book value per share - R$ (outstanding at 09/30) 1 2.90 1 2.87 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 50 ITAÚ UNIBANCO HOLDING S.A. Consolidated Statement of Income (Note 2a) (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Income related to financial operations 116,202,775 106,837,515 Loan, lease and other credit operations - 6 1,646,783 5 7,096,302 Securities and derivative financial instruments - 34,828,164 3 6,021,640 Financial income related to insurance, pension plan and capitalization operations 8c 13,399,354 7,499,333 Foreign exchange operations - 2 ,672,280 2 ,483,903 Compulsory deposits - 3,656,194 3 ,736,337 Expenses related to financial operations - (66,571,351) (64,883,700) Money market - (4 3,415,311) (49,019,654) Financial expenses on technical provisions for insurance, pension plan and capitalization 8c (1 2,933,282) (7,102,978) Borrowing and onlending 7e (10,222,758) (8,761,068) Income related to financial operations before loan and losses - 49,631,424 41,953,815 Result of provision for loan losses 6 (10,808,870) (8,126,393) Expenses for provision for loan losses - (13,950,493) (11,249,910) Income related to recovery of credits written off as loss - 3,141,623 3,123,517 Gross income related to financial operations - 38,822,554 33,827,422 Other operating revenues (expenses) - (13,345,344) (12,458,015) Banking service fees 10e 19,606,923 19,019,437 Income related to bank charges 10f 9 ,830,137 9 ,340,692 Result from insurance, pension plan and capitalization operations 8c 2,645,519 2,705,639 Personnel expenses 10g (20,582,679) (1 7,552,244) Other administrative expenses 10h (14,786,162) (1 4,583,676) Tax expenses 3p and 11a II (5,340,677) (4 ,639,179) Equity in earnings of affiliates, joint ventures and other investments 9 40,965 4 63,458 Other operating revenues 1,091,485 9 12,862 Other operating expenses 10i (6 ,750,855) (8 ,125,004) Operating income - 25,477,210 21,369,407 Non-operating income 6 2,569 7,480 Income before taxes on income and profit sharing - 25,539,779 21,376,887 Income tax and social contribution 3p and 11a I (5,844,436) (2,241,207) Due on operations for the period - (8,619,920) (6,415,233) Related to temporary differences - 2 ,775,484 4,174,026 Profit sharing – Management Members - Statutory 14b (265,761) (180,749) Non-controlling interests 13f (328,613) (1 83,364) Net income 19,100,969 18,771,567 Weighted average of the number of outstanding shares 13a 9,738,576,007 9,718,025,960 Net income per share – R$ 1.96 1.93 Book value per share - R$ (outstanding at 09/30) 1 2.90 1 2.87 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 50

ITAÚ UNIBANCO HOLDING S.A. Consolidated Statement of Cash Flows (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Adjusted net income 41,690,849 42,776,211 Net income 19,100,969 18,771,567 Adjustments to net income: 22,589,880 24,004,644 Share-based payment (270,261) (378,881) Adjustment to market value of securities and derivative financial instruments (assets / liabilities) 636,779 (8,558) Effects of changes in exchange rates on cash and cash equivalents (1,214,541) (2,417,923) Provision for loan losses 6c 13,950,493 11,249,910 Interest and foreign exchange income related to operations with subordinated debt 5,304,792 9,766,103 Change in technical provisions for pension plan and capitalization 8c 10,711,331 14,390,097 Depreciation and amortization 3,361,437 3,221,274 Expense from update / charges on the provision for civil, labor, tax and legal obligations 9b 783,173 737,590 Provision for civil, labor, tax claims and legal liabilities 9b 2,582,667 1,768,498 Interest income related to escrow deposits 9b (394,174) (138,273) Deferred taxes (excluding hedge tax effects) 359,611 4,715,831 Equity in earnings of affiliates, joint ventures and other investments (940,965) (463,458) Income from foreign exchange income related to available-for-sale securities (8,344,484) (13,456,140) Income from foreign exchange income related to held-to-maturity securities (3,332,017) (4,411,241) Income from sale of available-for-sale financial assets (792,491) (109,709) Income from sale of investments, assets held for sale and fixed assets 23,292 115,469 (Gain) loss in non-controlling interests 13f 328,613 183,364 Other (163,375) (759,309) Change in assets and liabilities (45,106,785) 3,304,749 (Increase) decrease in assets (62,199,280) (41,193,250) Short-term Interbank investments 1,553,898 (27,935,456) Securities and derivative financial instruments (assets / liabilities) (7,270,982) 20,196,726 Compulsory deposits with the Central Bank of Brazil 7,014,828 12,880,367 Interbank and interbranch accounts (assets / liabilities) 8,163,896 3,927,300 Loan, lease and other credit operations (57,394,214) (49,646,941) Other receivables and other assets (14,266,706) (615,246) (Decrease) increase in liabilities 17,092,495 44,497,999 Deposits 27,413,634 51,613,664 Deposits received under securities repurchase agreements (46,733,619) (9,334,732) Funds for issuance of securities 19,317,507 11,103,352 Borrowing and onlending 9,822,586 3,816,666 Technical provision for insurance, pension plan and capitalization 1,829,685 (1,438,840) Other liabilities 9,955,931 (7,999,033) Deferred income 7,258 169,173 Payment of income tax and social contribution (4,520,487) (3,432,251) Net cash provided by / (used in) operating activities ( 3,415,936) 46,080,960 Dividends / Interest on capital received from associates and joint ventures 488,029 395,254 Funds received from sale of available-for-sale securities 12,171,316 15,381,350 Funds received from redemption of held-to-maturity securities 4,706,789 14,300,731 (Purchase) / Disposal of Assets held for sale 379,127 66,070 Disposal of investments 93,966 93,497 Sale of fixed assets 121,586 116,431 Termination of intangible asset agreements 55,222 1,734 (Purchase) of available-for-sale securities (27,370,529) (8,409,289) (Purchase) of held-to-maturity securities (153,138) (2,463,399) (Purchase) of investments (42,183) (7,095,295) (Purchase) of fixed assets 12b I (1,157,415) (935,215) (Purchase) of intangible assets 12b II (1,771,453) (1,001,719) Net cash provided by / (used in) investing activities (12,478,683) 10,450,150 Subordintated debt obligations raisings 3,050,000 3,002,925 Subordintated debt obligations redemptions (2,208,717) (11,744,069) Change in non-controlling interests 342,087 1,559,422 (Gain) loss from delivery of treasury shares 707,945 1,133,502 Purchase of treasury shares 13a - (510,308) Dividends and interest on capital paid to non-controlling interests (226,185) (95,727) Dividends and interest on capital paid (25,476,564) (19,801,309) Net cash provided by / (used in) financing activities (23,811,434) (26,455,564) Net increase / (decrease) in cash and cash equivalents (39,706,053) 30,075,546 Cash and cash equivalents at the beginning of the period 100,901,960 71,235,353 Effects of changes in exchange rates on cash and cash equivalents 1,214,541 2,417,923 Cash and cash equivalents at the end of the period 3a 62,410,448 103,728,822 Cash 27,720,565 29,467,216 Interbank deposits 8,137,495 20,905,509 Securities purchased under agreements to resell - Collateral held 26,552,388 53,356,097 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 51 ITAÚ UNIBANCO HOLDING S.A. Consolidated Statement of Cash Flows (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Adjusted net income 41,690,849 42,776,211 Net income 19,100,969 18,771,567 Adjustments to net income: 22,589,880 24,004,644 Share-based payment (270,261) (378,881) Adjustment to market value of securities and derivative financial instruments (assets / liabilities) 636,779 (8,558) Effects of changes in exchange rates on cash and cash equivalents (1,214,541) (2,417,923) Provision for loan losses 6c 13,950,493 11,249,910 Interest and foreign exchange income related to operations with subordinated debt 5,304,792 9,766,103 Change in technical provisions for pension plan and capitalization 8c 10,711,331 14,390,097 Depreciation and amortization 3,361,437 3,221,274 Expense from update / charges on the provision for civil, labor, tax and legal obligations 9b 783,173 737,590 Provision for civil, labor, tax claims and legal liabilities 9b 2,582,667 1,768,498 Interest income related to escrow deposits 9b (394,174) (138,273) Deferred taxes (excluding hedge tax effects) 359,611 4,715,831 Equity in earnings of affiliates, joint ventures and other investments (940,965) (463,458) Income from foreign exchange income related to available-for-sale securities (8,344,484) (13,456,140) Income from foreign exchange income related to held-to-maturity securities (3,332,017) (4,411,241) Income from sale of available-for-sale financial assets (792,491) (109,709) Income from sale of investments, assets held for sale and fixed assets 23,292 115,469 (Gain) loss in non-controlling interests 13f 328,613 183,364 Other (163,375) (759,309) Change in assets and liabilities (45,106,785) 3,304,749 (Increase) decrease in assets (62,199,280) (41,193,250) Short-term Interbank investments 1,553,898 (27,935,456) Securities and derivative financial instruments (assets / liabilities) (7,270,982) 20,196,726 Compulsory deposits with the Central Bank of Brazil 7,014,828 12,880,367 Interbank and interbranch accounts (assets / liabilities) 8,163,896 3,927,300 Loan, lease and other credit operations (57,394,214) (49,646,941) Other receivables and other assets (14,266,706) (615,246) (Decrease) increase in liabilities 17,092,495 44,497,999 Deposits 27,413,634 51,613,664 Deposits received under securities repurchase agreements (46,733,619) (9,334,732) Funds for issuance of securities 19,317,507 11,103,352 Borrowing and onlending 9,822,586 3,816,666 Technical provision for insurance, pension plan and capitalization 1,829,685 (1,438,840) Other liabilities 9,955,931 (7,999,033) Deferred income 7,258 169,173 Payment of income tax and social contribution (4,520,487) (3,432,251) Net cash provided by / (used in) operating activities ( 3,415,936) 46,080,960 Dividends / Interest on capital received from associates and joint ventures 488,029 395,254 Funds received from sale of available-for-sale securities 12,171,316 15,381,350 Funds received from redemption of held-to-maturity securities 4,706,789 14,300,731 (Purchase) / Disposal of Assets held for sale 379,127 66,070 Disposal of investments 93,966 93,497 Sale of fixed assets 121,586 116,431 Termination of intangible asset agreements 55,222 1,734 (Purchase) of available-for-sale securities (27,370,529) (8,409,289) (Purchase) of held-to-maturity securities (153,138) (2,463,399) (Purchase) of investments (42,183) (7,095,295) (Purchase) of fixed assets 12b I (1,157,415) (935,215) (Purchase) of intangible assets 12b II (1,771,453) (1,001,719) Net cash provided by / (used in) investing activities (12,478,683) 10,450,150 Subordintated debt obligations raisings 3,050,000 3,002,925 Subordintated debt obligations redemptions (2,208,717) (11,744,069) Change in non-controlling interests 342,087 1,559,422 (Gain) loss from delivery of treasury shares 707,945 1,133,502 Purchase of treasury shares 13a - (510,308) Dividends and interest on capital paid to non-controlling interests (226,185) (95,727) Dividends and interest on capital paid (25,476,564) (19,801,309) Net cash provided by / (used in) financing activities (23,811,434) (26,455,564) Net increase / (decrease) in cash and cash equivalents (39,706,053) 30,075,546 Cash and cash equivalents at the beginning of the period 100,901,960 71,235,353 Effects of changes in exchange rates on cash and cash equivalents 1,214,541 2,417,923 Cash and cash equivalents at the end of the period 3a 62,410,448 103,728,822 Cash 27,720,565 29,467,216 Interbank deposits 8,137,495 20,905,509 Securities purchased under agreements to resell - Collateral held 26,552,388 53,356,097 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 51

ITAÚ UNIBANCO HOLDING S.A. Consolidated Statement of Added Value (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Income 138,630,538 1 30,697,232 Financial operations 116,202,775 1 06,837,515 Banking services 10e and f 2 9,437,060 2 8,360,129 Result from insurance, pension plan and capitalization operations 2,645,519 2 ,705,639 Result from loan losses 6 (1 0,808,870) (8,126,393) Other 1 ,154,054 9 20,342 Expenses (7 3,322,206) (7 3,008,704) Financial operations (6 6,571,351) (6 4,883,700) Other (6 ,750,855) (8 ,125,004) Inputs purchased from third parties (11,613,151) (1 1,402,376) Materials, energy and others 10h (247,663) (238,898) Third-party services 10h (3 ,405,369) (3 ,234,198) Other (7,960,119) (7 ,929,280) Data processing and telecommunications 10h (3,219,849) (3 ,123,265) Advertising, promotions and publication 10h (921,092) (1 ,052,637) Installations (1,375,448) (1 ,249,731) Transportation 10h (2 69,895) (2 56,211) Security 10h (5 63,662) (565,304) Travel expenses 10h (176,687) (1 64,627) Other (1 ,433,486) (1 ,517,505) Gross added value 5 3,695,181 4 6,286,152 Depreciation and amortization 10h (2,103,386) (1,991,485) Net added value produced by the company 51,591,795 4 4,294,667 Added value received through transfer - Results of equity method 9 40,965 463,458 Total added value to be distributed 52,532,760 44,758,125 Distribution of added value 52,532,760 44,758,125 Personnel 18,982,639 36.1% 1 5,811,689 35.3% Compensation 14,448,054 27.5% 1 2,153,284 27.2% Benefits 3 ,529,055 6.7% 2 ,974,170 6.6% FGTS – government severance pay fund 1 ,005,530 1.9% 6 84,235 1.5% Taxes, fees and contributions 1 3,050,914 24.8% 8,801,690 19.7% Federal 1 1,909,086 22.7% 7 ,742,167 17.3% State 26 0.0% 21 0.0% Municipal 1,141,802 2.2% 1,059,502 2.4% Return on third parties’ capital - Rent 1,069,625 2.0% 1 ,189,815 2.7% Return on capital 1 9,429,582 37.0% 18,954,931 42.3% Dividends and interest on capital 1 1,047,516 21.0% 7 ,709,082 17.2% Retained earnings / (loss) attributable to controlling shareholders 8,053,453 15.3% 1 1,062,485 24.7% Retained earnings / (loss) attributable to non-controlling shareholders 3 28,613 0.6% 183,364 0.4% The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 52 ITAÚ UNIBANCO HOLDING S.A. Consolidated Statement of Added Value (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Income 138,630,538 1 30,697,232 Financial operations 116,202,775 1 06,837,515 Banking services 10e and f 2 9,437,060 2 8,360,129 Result from insurance, pension plan and capitalization operations 2,645,519 2 ,705,639 Result from loan losses 6 (1 0,808,870) (8,126,393) Other 1 ,154,054 9 20,342 Expenses (7 3,322,206) (7 3,008,704) Financial operations (6 6,571,351) (6 4,883,700) Other (6 ,750,855) (8 ,125,004) Inputs purchased from third parties (11,613,151) (1 1,402,376) Materials, energy and others 10h (247,663) (238,898) Third-party services 10h (3 ,405,369) (3 ,234,198) Other (7,960,119) (7 ,929,280) Data processing and telecommunications 10h (3,219,849) (3 ,123,265) Advertising, promotions and publication 10h (921,092) (1 ,052,637) Installations (1,375,448) (1 ,249,731) Transportation 10h (2 69,895) (2 56,211) Security 10h (5 63,662) (565,304) Travel expenses 10h (176,687) (1 64,627) Other (1 ,433,486) (1 ,517,505) Gross added value 5 3,695,181 4 6,286,152 Depreciation and amortization 10h (2,103,386) (1,991,485) Net added value produced by the company 51,591,795 4 4,294,667 Added value received through transfer - Results of equity method 9 40,965 463,458 Total added value to be distributed 52,532,760 44,758,125 Distribution of added value 52,532,760 44,758,125 Personnel 18,982,639 36.1% 1 5,811,689 35.3% Compensation 14,448,054 27.5% 1 2,153,284 27.2% Benefits 3 ,529,055 6.7% 2 ,974,170 6.6% FGTS – government severance pay fund 1 ,005,530 1.9% 6 84,235 1.5% Taxes, fees and contributions 1 3,050,914 24.8% 8,801,690 19.7% Federal 1 1,909,086 22.7% 7 ,742,167 17.3% State 26 0.0% 21 0.0% Municipal 1,141,802 2.2% 1,059,502 2.4% Return on third parties’ capital - Rent 1,069,625 2.0% 1 ,189,815 2.7% Return on capital 1 9,429,582 37.0% 18,954,931 42.3% Dividends and interest on capital 1 1,047,516 21.0% 7 ,709,082 17.2% Retained earnings / (loss) attributable to controlling shareholders 8,053,453 15.3% 1 1,062,485 24.7% Retained earnings / (loss) attributable to non-controlling shareholders 3 28,613 0.6% 183,364 0.4% The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 52

ITAÚ UNIBANCO HOLDING S.A. Balance Sheet (In thousands of Reais) Assets Note 09/30/2019 09/30/2018 Current assets 21,212,354 12,278,881 Cash - 51,645 665,008 Short-term Interbank investments 3b and 4 9,837,680 50,574 Money market - 4,130,514 50,574 Interbank deposits - 5,707,166 - Securities and derivative financial instruments 3c,3d and 5 8,536,775 9,923,907 Own portfolio - 8,536,775 9,923,907 Other receivables - 2,781,304 1,634,249 Income receivable 412,820 29,950 Deferred tax assets 11b I 1,256,295 687,934 Deposits in guarantee for contingent, provisions and legal obrigations 149 93 Sundry 1,112,040 916,272 Other assets – Prepaid expenses 3g 4,950 5,143 Long term receivables - 40,511,414 75,085,726 Short-term Interbank investments – Interbank deposits 3b and 4 37,006,425 68,681,567 Securities and derivative financial instruments - Derivative financial instruments 3c, 3d and 5 35,265 2,767,075 Other receivables 3,469,724 3,637,084 Deferred tax assets 11b I 504,507 1,670,929 Deposits in guarantee for contingent, provisions and legal obrigations 61,943 17,418 Sundry 2,903,274 1,948,737 Permanent assets - 110,132,518 109,000,722 Investments - Investments in subsidiaries 3h and 12a 110,132,324 109,000,473 Real estate in use 3i 194 249 Total assets 171,856,286 196,365,329 Liabilities Current liabilities 5,487,904 22,869,908 Deposits 3b and 7b 27,104 20,179,972 Demand deposits 27,104 14,056,529 Interbank deposits - 6,123,443 Funds from acceptances and issuance of securities 3b and 7d - 108,490 Derivative financial instruments 3d and 5f - 1,582,350 Other liabilities - 5,460,800 999,096 Social and statutory 482,756 333,125 Tax and social security obligations 3n, 3p and 11c 673,929 659,167 Subordinated debt 7f 4,281,011 - Sundry 23,104 6,804 Long term liabilities 40,599,787 47,961,870 Deposits - Interbank deposits 3b and 7b - 7,859,450 Derivative financial instruments 3d and 5f - 927 Other liabilities 40,599,787 40,101,493 Tax and social security obligations 3n, 3p and 11c 141,630 172,336 Subordinated debt 7f 28,741,182 31,734,479 Provisions civil and labor 203,911 200,105 Debt instruments eligible as capital 7f 11,513,064 7,985,434 Sundry - 9,139 Stockholders' equity 13 125,768,595 125,533,551 Capital - 97,148,000 97,148,000 Capital reserves 1,847,973 1,732,340 Revenue reserves - 27,389,022 29,160,487 Equity valuation adjustment 3c and 3d 690,523 ( 544,514) (Treasury shares) - ( 1,306,923) ( 1,962,762) Total liabilities - 171,856,286 196,365,329 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 53 ITAÚ UNIBANCO HOLDING S.A. Balance Sheet (In thousands of Reais) Assets Note 09/30/2019 09/30/2018 Current assets 21,212,354 12,278,881 Cash - 51,645 665,008 Short-term Interbank investments 3b and 4 9,837,680 50,574 Money market - 4,130,514 50,574 Interbank deposits - 5,707,166 - Securities and derivative financial instruments 3c,3d and 5 8,536,775 9,923,907 Own portfolio - 8,536,775 9,923,907 Other receivables - 2,781,304 1,634,249 Income receivable 412,820 29,950 Deferred tax assets 11b I 1,256,295 687,934 Deposits in guarantee for contingent, provisions and legal obrigations 149 93 Sundry 1,112,040 916,272 Other assets – Prepaid expenses 3g 4,950 5,143 Long term receivables - 40,511,414 75,085,726 Short-term Interbank investments – Interbank deposits 3b and 4 37,006,425 68,681,567 Securities and derivative financial instruments - Derivative financial instruments 3c, 3d and 5 35,265 2,767,075 Other receivables 3,469,724 3,637,084 Deferred tax assets 11b I 504,507 1,670,929 Deposits in guarantee for contingent, provisions and legal obrigations 61,943 17,418 Sundry 2,903,274 1,948,737 Permanent assets - 110,132,518 109,000,722 Investments - Investments in subsidiaries 3h and 12a 110,132,324 109,000,473 Real estate in use 3i 194 249 Total assets 171,856,286 196,365,329 Liabilities Current liabilities 5,487,904 22,869,908 Deposits 3b and 7b 27,104 20,179,972 Demand deposits 27,104 14,056,529 Interbank deposits - 6,123,443 Funds from acceptances and issuance of securities 3b and 7d - 108,490 Derivative financial instruments 3d and 5f - 1,582,350 Other liabilities - 5,460,800 999,096 Social and statutory 482,756 333,125 Tax and social security obligations 3n, 3p and 11c 673,929 659,167 Subordinated debt 7f 4,281,011 - Sundry 23,104 6,804 Long term liabilities 40,599,787 47,961,870 Deposits - Interbank deposits 3b and 7b - 7,859,450 Derivative financial instruments 3d and 5f - 927 Other liabilities 40,599,787 40,101,493 Tax and social security obligations 3n, 3p and 11c 141,630 172,336 Subordinated debt 7f 28,741,182 31,734,479 Provisions civil and labor 203,911 200,105 Debt instruments eligible as capital 7f 11,513,064 7,985,434 Sundry - 9,139 Stockholders' equity 13 125,768,595 125,533,551 Capital - 97,148,000 97,148,000 Capital reserves 1,847,973 1,732,340 Revenue reserves - 27,389,022 29,160,487 Equity valuation adjustment 3c and 3d 690,523 ( 544,514) (Treasury shares) - ( 1,306,923) ( 1,962,762) Total liabilities - 171,856,286 196,365,329 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 53

ITAÚ UNIBANCO HOLDING S.A. Statement of Income (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Income related to financial operations 3 ,280,755 8,299,177 Securities and derivative financial instruments 0 3,280,755 8,299,177 Expenses related to financial operations 0 (1,668,265) (6 ,870,082) Money market (1 ,668,265) (6 ,870,082) Gross income related to financial operations 1 ,612,490 1 ,429,095 Other operating revenues (expenses) 0 16,167,715 1 2,141,618 Personnel expenses 0 (99,261) (102,526) Other administrative expenses 0 (1 09,677) (1 03,728) Tax expenses 11a II (2 78,928) (232,401) Equity in earnings of subsidiaries 12a 16,676,690 1 2,615,402 Other operating revenues (expenses) 0 (21,109) (35,129) Operating income 0 17,780,205 13,570,713 Non-operating income 0 - 1 8,851 Income before taxes on income and profit sharing 0 17,780,205 1 3,589,564 Income tax and social contribution 3p 691,258 1 ,699,840 Due on operations for the period (385,108) (3 17,409) Related to temporary differences 1 ,076,366 2 ,017,249 Profit sharing – Management Members - Statutory (2 0,484) (5,113) Net income 1 8,450,979 15,284,291 Weighted average of the number of outstanding shares 13a 9,738,576,007 9,718,025,960 Net income per share – R$ 1.89 1 .57 Book value per share - R$ (outstanding at 09/30) 12.91 12.92 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 54 ITAÚ UNIBANCO HOLDING S.A. Statement of Income (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Income related to financial operations 3 ,280,755 8,299,177 Securities and derivative financial instruments 0 3,280,755 8,299,177 Expenses related to financial operations 0 (1,668,265) (6 ,870,082) Money market (1 ,668,265) (6 ,870,082) Gross income related to financial operations 1 ,612,490 1 ,429,095 Other operating revenues (expenses) 0 16,167,715 1 2,141,618 Personnel expenses 0 (99,261) (102,526) Other administrative expenses 0 (1 09,677) (1 03,728) Tax expenses 11a II (2 78,928) (232,401) Equity in earnings of subsidiaries 12a 16,676,690 1 2,615,402 Other operating revenues (expenses) 0 (21,109) (35,129) Operating income 0 17,780,205 13,570,713 Non-operating income 0 - 1 8,851 Income before taxes on income and profit sharing 0 17,780,205 1 3,589,564 Income tax and social contribution 3p 691,258 1 ,699,840 Due on operations for the period (385,108) (3 17,409) Related to temporary differences 1 ,076,366 2 ,017,249 Profit sharing – Management Members - Statutory (2 0,484) (5,113) Net income 1 8,450,979 15,284,291 Weighted average of the number of outstanding shares 13a 9,738,576,007 9,718,025,960 Net income per share – R$ 1.89 1 .57 Book value per share - R$ (outstanding at 09/30) 12.91 12.92 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 54

ITAÚ UNIBANCO HOLDING S.A. Statement of Changes in Stockholders’ Equity (Note 13) (In thousands of Reais) Capital Equity valuation Retained (Treasury Capital Revenue reserves Total reserves adjustment earnings shares) Balance at 01/01/2018 97,148,000 1,733,611 3 3,806,424 ( 1,437,328) - ( 2,742,767) 128,507,940 Purchase of treasury shares - - - - - (510,308) ( 510,308) Cancellation of shares – Meeting of the Board of Directors at February 22, 2018 - - (534,421) - - 5 34,421 - Result of delivery of treasure shares - 3 77,610 - - - 7 55,892 1,133,502 Recognition of stock-based payment plans - ( 378,881) - - - - (378,881) Payment of interest on capital on 03/07/2018 – declared after 12/31/2017 - R$ 2.1126 per share - - (13,672,862) - - - ( 13,672,862) Unclaimed dividends - - - - 3 ,296 - 3 ,296 Equity valuation adjustment: Change in adjustment to market value - - - ( 997,771) - - (997,771) Remeasurements in liabilities of post-employment benefits - - - 5 ,495 - - 5,495 Foreign exchange variation on investments abroad/ Hedge of net investment in foreign operations - - - 1 ,885,090 - - 1,885,090 Net income - - - - 1 5,284,291 - 1 5,284,291 Appropriations: Legal reserve - - 764,215 - ( 764,215) - - Statutory reserves - - 6 ,814,290 - (6,814,290) - - Dividends and interest on capital - - 1,982,841 - (7,709,082) - (5,726,241) Balance at 09/30/2018 97,148,000 1,732,340 29,160,487 (544,514) - (1,962,762) 1 25,533,551 Changes in the period - ( 1,271) (4,645,937) 892,814 - 780,005 (2,974,389) Balance at 01/01/2019 9 7,148,000 1 ,923,056 3 5,379,671 (767,956) - ( 1,819,690) 1 31,863,081 Result of delivery of treasure shares - 3 49,761 - - - 512,767 862,528 Recognition of stock-based payment plans - (424,844) - - - - (424,844) Payment of interest on capital on 03/07/2019 – declared after 12/31/2018 - R$ 1.8001 per share - - ( 17,500,313) - - - (17,500,313) Unclaimed dividends and Interest on capital - - - - 40,578 - 40,578 Equity valuation adjustment: Change in adjustment to market value - - - 1 ,286,710 - - 1 ,286,710 Remeasurements in liabilities of post-employment benefits - - - ( 64,100) - - ( 64,100) Foreign exchange variation on investments abroad / Hedge of net investment in foreign operations - - - 235,869 - - 235,869 Net income - - - - 18,450,979 - 18,450,979 Appropriations: Legal reserve - - 9 22,549 - (922,549) - - Statutory reserves - - 6 ,521,492 - ( 6,521,492) - - Dividends - - 2 ,065,623 - (11,047,516) - (8,981,893) Balance at 09/30/2019 97,148,000 1,847,973 27,389,022 6 90,523 - (1,306,923) 125,768,595 Changes in the period - (75,083) ( 7,990,649) 1,458,479 - 5 12,767 (6,094,486) The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 55 ITAÚ UNIBANCO HOLDING S.A. Statement of Changes in Stockholders’ Equity (Note 13) (In thousands of Reais) Capital Equity valuation Retained (Treasury Capital Revenue reserves Total reserves adjustment earnings shares) Balance at 01/01/2018 97,148,000 1,733,611 3 3,806,424 ( 1,437,328) - ( 2,742,767) 128,507,940 Purchase of treasury shares - - - - - (510,308) ( 510,308) Cancellation of shares – Meeting of the Board of Directors at February 22, 2018 - - (534,421) - - 5 34,421 - Result of delivery of treasure shares - 3 77,610 - - - 7 55,892 1,133,502 Recognition of stock-based payment plans - ( 378,881) - - - - (378,881) Payment of interest on capital on 03/07/2018 – declared after 12/31/2017 - R$ 2.1126 per share - - (13,672,862) - - - ( 13,672,862) Unclaimed dividends - - - - 3 ,296 - 3 ,296 Equity valuation adjustment: Change in adjustment to market value - - - ( 997,771) - - (997,771) Remeasurements in liabilities of post-employment benefits - - - 5 ,495 - - 5,495 Foreign exchange variation on investments abroad/ Hedge of net investment in foreign operations - - - 1 ,885,090 - - 1,885,090 Net income - - - - 1 5,284,291 - 1 5,284,291 Appropriations: Legal reserve - - 764,215 - ( 764,215) - - Statutory reserves - - 6 ,814,290 - (6,814,290) - - Dividends and interest on capital - - 1,982,841 - (7,709,082) - (5,726,241) Balance at 09/30/2018 97,148,000 1,732,340 29,160,487 (544,514) - (1,962,762) 1 25,533,551 Changes in the period - ( 1,271) (4,645,937) 892,814 - 780,005 (2,974,389) Balance at 01/01/2019 9 7,148,000 1 ,923,056 3 5,379,671 (767,956) - ( 1,819,690) 1 31,863,081 Result of delivery of treasure shares - 3 49,761 - - - 512,767 862,528 Recognition of stock-based payment plans - (424,844) - - - - (424,844) Payment of interest on capital on 03/07/2019 – declared after 12/31/2018 - R$ 1.8001 per share - - ( 17,500,313) - - - (17,500,313) Unclaimed dividends and Interest on capital - - - - 40,578 - 40,578 Equity valuation adjustment: Change in adjustment to market value - - - 1 ,286,710 - - 1 ,286,710 Remeasurements in liabilities of post-employment benefits - - - ( 64,100) - - ( 64,100) Foreign exchange variation on investments abroad / Hedge of net investment in foreign operations - - - 235,869 - - 235,869 Net income - - - - 18,450,979 - 18,450,979 Appropriations: Legal reserve - - 9 22,549 - (922,549) - - Statutory reserves - - 6 ,521,492 - ( 6,521,492) - - Dividends - - 2 ,065,623 - (11,047,516) - (8,981,893) Balance at 09/30/2019 97,148,000 1,847,973 27,389,022 6 90,523 - (1,306,923) 125,768,595 Changes in the period - (75,083) ( 7,990,649) 1,458,479 - 5 12,767 (6,094,486) The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 55

ITAÚ UNIBANCO HOLDING S.A. Statement of Cash Flows (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Adjusted net income 1,859,088 7,300,918 Net income 18,450,979 15,284,291 Adjustments to net income: (16,591,891) (7,983,373) Share-based payment (270,261) (244,291) Interest and foreign exchange expense related to operations with subordinated debt 4,702,113 6,821,011 Deferred taxes (1,076,366) (2,017,249) Equity in earnings of subsidiaries 12a (16,676,690) (12,615,402) Amortization of goodwill 33,868 38,620 Effects of changes in exchange rates on cash and cash equivalents (3,304,598) 33,911 Other 43 27 Change in assets and liabilities (805,902) 24,084,134 (Increase) / decrease in short-term Interbank investments 22,268,958 13,884,699 (Increase) / decrease in securities and derivative financial instruments 4,157,085 4,979,323 (Increase) / decrease in other receivables and other assets 46,742 160,312 Increase / (decrease) in deposits (26,970,075) 5,120,577 Increase / (decrease) in funds for issuance of securities (6,617) (3,392,899) Increase / (decrease) in other liabilities (288,993) 3,350,808 Payment of income tax and social contribution (13,002) (18,686) Net cash provided by / (used in) operating activities 1,053,186 31,385,052 Dividends and interest on capital received 19,524,329 3,625,894 (Purchase) / disposal sale of investments - (14,499,995) (Purchase) sale of fixed assets - (229) Net cash provided by / (used in) investing activities 19,524,329 (10,874,330) Subordintated debt obligations raisings 3,050,000 - Subordintated debt obligations redemptions (1,628,114) (1,191,590) (Gain) loss from delivery of treasury shares 707,945 998,912 Purchase of treasury shares - (510,308) Dividends and interest on capital paid (25,476,564) (19,801,309) Net cash provided by / (used in) financing activities (23,346,733) (20,504,295) Net increase / (decrease) in cash and cash equivalents (2,769,218) 6,427 Cash and cash equivalents at the beginning of the period 3,646,779 743,066 Effects of changes in exchange rates on cash and cash equivalents 3,304,598 (33,911) Cash and cash equivalents at the end of the period 3a 4,182,159 715,582 Cash 51,645 665,008 Securities purchased under agreements to resell - Collateral held 4,130,514 50,574 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 56 ITAÚ UNIBANCO HOLDING S.A. Statement of Cash Flows (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Adjusted net income 1,859,088 7,300,918 Net income 18,450,979 15,284,291 Adjustments to net income: (16,591,891) (7,983,373) Share-based payment (270,261) (244,291) Interest and foreign exchange expense related to operations with subordinated debt 4,702,113 6,821,011 Deferred taxes (1,076,366) (2,017,249) Equity in earnings of subsidiaries 12a (16,676,690) (12,615,402) Amortization of goodwill 33,868 38,620 Effects of changes in exchange rates on cash and cash equivalents (3,304,598) 33,911 Other 43 27 Change in assets and liabilities (805,902) 24,084,134 (Increase) / decrease in short-term Interbank investments 22,268,958 13,884,699 (Increase) / decrease in securities and derivative financial instruments 4,157,085 4,979,323 (Increase) / decrease in other receivables and other assets 46,742 160,312 Increase / (decrease) in deposits (26,970,075) 5,120,577 Increase / (decrease) in funds for issuance of securities (6,617) (3,392,899) Increase / (decrease) in other liabilities (288,993) 3,350,808 Payment of income tax and social contribution (13,002) (18,686) Net cash provided by / (used in) operating activities 1,053,186 31,385,052 Dividends and interest on capital received 19,524,329 3,625,894 (Purchase) / disposal sale of investments - (14,499,995) (Purchase) sale of fixed assets - (229) Net cash provided by / (used in) investing activities 19,524,329 (10,874,330) Subordintated debt obligations raisings 3,050,000 - Subordintated debt obligations redemptions (1,628,114) (1,191,590) (Gain) loss from delivery of treasury shares 707,945 998,912 Purchase of treasury shares - (510,308) Dividends and interest on capital paid (25,476,564) (19,801,309) Net cash provided by / (used in) financing activities (23,346,733) (20,504,295) Net increase / (decrease) in cash and cash equivalents (2,769,218) 6,427 Cash and cash equivalents at the beginning of the period 3,646,779 743,066 Effects of changes in exchange rates on cash and cash equivalents 3,304,598 (33,911) Cash and cash equivalents at the end of the period 3a 4,182,159 715,582 Cash 51,645 665,008 Securities purchased under agreements to resell - Collateral held 4,130,514 50,574 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 56

ITAÚ UNIBANCO HOLDING S.A. Statement of Added Value (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Income 4,215,791 10,362,024 Financial operations 3,280,755 8,299,177 Other 935,036 2,062,847 Expenses (1,682,484) (6,914,122) Financial operations ( 1,668,265) (6,870,082) Other ( 14,219) (44,040) Inputs purchased from third parties ( 108,830) ( 103,156) Third-party services ( 31,360) ( 20,828) Advertising, promotions and publication (43,437) (34,794) Expenses for financial system services ( 20,082) (26,710) Other ( 13,951) (20,824) Gross added value 2,424,477 3,344,746 Deprecitation and amortization (33,912) (38,647) Net added value produced by the company 2,390,565 3,306,099 Added value received through transfer - Results of equity method 12a 16,676,690 12,615,402 Total added value to be distributed 19,067,255 15,921,501 Distribution of added value 19,067,255 15,921,501 Personnel 92,780 73,829 Compensation 89,542 70,122 Benefits 2,431 2,452 FGTS – government severance pay fund 807 1,255 Taxes, fees and contributions 522,649 562,809 Federal 522,649 562,268 Municipal - 541 Return on third parties’ capital - Rent 847 572 Return on capital 18,450,979 15,284,291 Dividends and interest on capital 11,047,516 7,709,082 Retained earnings for the period 7,403,463 7,575,209 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 57 ITAÚ UNIBANCO HOLDING S.A. Statement of Added Value (In thousands of Reais) 01/01 to 01/01 to Note 09/30/2019 09/30/2018 Income 4,215,791 10,362,024 Financial operations 3,280,755 8,299,177 Other 935,036 2,062,847 Expenses (1,682,484) (6,914,122) Financial operations ( 1,668,265) (6,870,082) Other ( 14,219) (44,040) Inputs purchased from third parties ( 108,830) ( 103,156) Third-party services ( 31,360) ( 20,828) Advertising, promotions and publication (43,437) (34,794) Expenses for financial system services ( 20,082) (26,710) Other ( 13,951) (20,824) Gross added value 2,424,477 3,344,746 Deprecitation and amortization (33,912) (38,647) Net added value produced by the company 2,390,565 3,306,099 Added value received through transfer - Results of equity method 12a 16,676,690 12,615,402 Total added value to be distributed 19,067,255 15,921,501 Distribution of added value 19,067,255 15,921,501 Personnel 92,780 73,829 Compensation 89,542 70,122 Benefits 2,431 2,452 FGTS – government severance pay fund 807 1,255 Taxes, fees and contributions 522,649 562,809 Federal 522,649 562,268 Municipal - 541 Return on third parties’ capital - Rent 847 572 Return on capital 18,450,979 15,284,291 Dividends and interest on capital 11,047,516 7,709,082 Retained earnings for the period 7,403,463 7,575,209 The accompanying notes are an integral part of these financial statements Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 57

ITAÚ UNIBANCO HOLDING S.A. Notes to the Financial Statements Period from 01/01 to 09/30 of 2019 and 2018 (In thousands of Reais) Note 1 - Operations 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 has a presence in 20 countries and territories and offers a wide variety of financial products and services to personal and corporate customers in Brazil and abroad, not necessarily related to Brazil, through its branches, subsidiaries and international affiliates. It offers a full range of banking services, through its different portfolios: commercial banking; investment banking; real estate lending; loans, financing and investment; leasing and foreign exchange business; mortgage loans; loans, financing and investment; lease and foreign exchange transactions. ITAÚ UNIBANCO HOLDING is a financial holding company controlled by Itaú Unibanco Participações S.A. (“IUPAR”), a holding company which owns 51.71% of the 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’s common shares directly. These individual and consolidated financial statements were approved by the Board of Directors on November 04, 2019. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 58 ITAÚ UNIBANCO HOLDING S.A. Notes to the Financial Statements Period from 01/01 to 09/30 of 2019 and 2018 (In thousands of Reais) Note 1 - Operations 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 has a presence in 20 countries and territories and offers a wide variety of financial products and services to personal and corporate customers in Brazil and abroad, not necessarily related to Brazil, through its branches, subsidiaries and international affiliates. It offers a full range of banking services, through its different portfolios: commercial banking; investment banking; real estate lending; loans, financing and investment; leasing and foreign exchange business; mortgage loans; loans, financing and investment; lease and foreign exchange transactions. ITAÚ UNIBANCO HOLDING is a financial holding company controlled by Itaú Unibanco Participações S.A. (“IUPAR”), a holding company which owns 51.71% of the 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’s common shares directly. These individual and consolidated financial statements were approved by the Board of Directors on November 04, 2019. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 58

Note 2 – Presentation of the Consolidated Financial Statements a) Presentation The financial statements of ITAÚ UNIBANCO HOLDING and its subsidiaries (ITAÚ UNIBANCO HOLDING CONSOLIDATED) have been prepared in accordance with the Brazilian Corporate Law, as amended by Laws 11,638, of December 28, 2007, and 11,941, of May 27, 2009, and with instructions issued by the National Monetary Council (CMN), the Central Bank of Brazil (BACEN), the Brazilian Securities Commission (CVM), the National Council of Private Insurance (CNSP), the Superintendence of Private Insurance (SUSEP) and the National Superintendence of Supplementary Pensions (PREVIC), which include the use of accounting estimates for setting up provisions and valuing financial assets. The information contained in the financial statements and accompanying notes is consistent with the management accounts. As required by the sole paragraph of article 7 of BACEN Circular 3,068, of November 8, 2001, securities classified as held for trading (Note 3c) are shown in the Consolidated Balance Sheet under Current Assets, regardless of their maturity dates. Leases are shown at present value in the Consolidated Balance Sheet. The related income and expenses, representing the financial results of these operations, are grouped together under Loan, Lease and Other Credit Operations in the Statement of Income. Advances on exchange contracts have been reclassified from Other Liabilities – Foreign Exchange Portfolio to Loan Operations. Foreign exchange income consists of exchange rate differences on balance sheet accounts denominated in foreign currencies. b) Consolidation The consolidated financial statements of ITAÚ UNIBANCO HOLDING relate to transactions carried out by its branches and subsidiaries in Brazil and abroad, and the operations of the companies, Special Purpose Entities and investment funds which it controls. Intercompany asset and liability account balances, income accounts and transaction values have been eliminated. Controlled entities are all those in which ITAÚ UNIBANCO HOLDING’s involvement exposes it or entitles it to variable returns which it has the power to influence. The existence of control is assessed continuously. Controlled entities are consolidated from the date control is established to the date on which it ceases to exist. The consolidated financial statements are prepared using consistent accounting policies. In ITAÚ UNIBANCO HOLDING, goodwill recorded in subsidiaries is amortized on the basis of anticipated future profitability and appraisal reports, or upon realization of the investment, according to the rules and guidance of CMN and BACEN. The difference in Net Income and Shareholders’ Equity between ITAÚ UNIBANCO HOLDING and ITAÚ UNIBANCO HOLDING CONSOLIDATED (Note 13d) results substantially from the adoption of different criteria for the amortization of goodwill originating from acquisitions of investments, for recognizing transactions with minority shareholders where there is no change in control (Note 3I) and for recognizing exchange differences on foreign investments and hedging these investments, which are denominated in currencies other than the functional currency of the parent company, net of the corresponding tax effects. The effects of foreign exchange differences on foreign investments are classified under the heading Income on Securities and Derivatives Financial Instruments in the Statement of Income for subsidiaries with the same functional currency as the parent company, and in Equity Valuation Adjustment for subsidiaries with a different functional currency. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 59 Note 2 – Presentation of the Consolidated Financial Statements a) Presentation The financial statements of ITAÚ UNIBANCO HOLDING and its subsidiaries (ITAÚ UNIBANCO HOLDING CONSOLIDATED) have been prepared in accordance with the Brazilian Corporate Law, as amended by Laws 11,638, of December 28, 2007, and 11,941, of May 27, 2009, and with instructions issued by the National Monetary Council (CMN), the Central Bank of Brazil (BACEN), the Brazilian Securities Commission (CVM), the National Council of Private Insurance (CNSP), the Superintendence of Private Insurance (SUSEP) and the National Superintendence of Supplementary Pensions (PREVIC), which include the use of accounting estimates for setting up provisions and valuing financial assets. The information contained in the financial statements and accompanying notes is consistent with the management accounts. As required by the sole paragraph of article 7 of BACEN Circular 3,068, of November 8, 2001, securities classified as held for trading (Note 3c) are shown in the Consolidated Balance Sheet under Current Assets, regardless of their maturity dates. Leases are shown at present value in the Consolidated Balance Sheet. The related income and expenses, representing the financial results of these operations, are grouped together under Loan, Lease and Other Credit Operations in the Statement of Income. Advances on exchange contracts have been reclassified from Other Liabilities – Foreign Exchange Portfolio to Loan Operations. Foreign exchange income consists of exchange rate differences on balance sheet accounts denominated in foreign currencies. b) Consolidation The consolidated financial statements of ITAÚ UNIBANCO HOLDING relate to transactions carried out by its branches and subsidiaries in Brazil and abroad, and the operations of the companies, Special Purpose Entities and investment funds which it controls. Intercompany asset and liability account balances, income accounts and transaction values have been eliminated. Controlled entities are all those in which ITAÚ UNIBANCO HOLDING’s involvement exposes it or entitles it to variable returns which it has the power to influence. The existence of control is assessed continuously. Controlled entities are consolidated from the date control is established to the date on which it ceases to exist. The consolidated financial statements are prepared using consistent accounting policies. In ITAÚ UNIBANCO HOLDING, goodwill recorded in subsidiaries is amortized on the basis of anticipated future profitability and appraisal reports, or upon realization of the investment, according to the rules and guidance of CMN and BACEN. The difference in Net Income and Shareholders’ Equity between ITAÚ UNIBANCO HOLDING and ITAÚ UNIBANCO HOLDING CONSOLIDATED (Note 13d) results substantially from the adoption of different criteria for the amortization of goodwill originating from acquisitions of investments, for recognizing transactions with minority shareholders where there is no change in control (Note 3I) and for recognizing exchange differences on foreign investments and hedging these investments, which are denominated in currencies other than the functional currency of the parent company, net of the corresponding tax effects. The effects of foreign exchange differences on foreign investments are classified under the heading Income on Securities and Derivatives Financial Instruments in the Statement of Income for subsidiaries with the same functional currency as the parent company, and in Equity Valuation Adjustment for subsidiaries with a different functional currency. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 59

The consolidated financial statements cover ITAÚ UNIBANCO HOLDING and its direct and indirect subsidiaries. We list below the main companies which together represent over 95% of total consolidated assets: Interest in total Interest in voting Country of (1) capital at Functional currency Activity capital at Incorporation 09/30/2019 09/30/2018 09/30/2019 09/30/2018 In Brazil Banco Itaú BBA S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaú Consignado S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaucard S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itauleasing S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Cia. Itaú de Capitalização Real Brazil Capitalization 100.00% 100.00% 100.00% 100.00% Dibens Leasing S.A. - Arrendamento Mercantil Real Brazil Leasing 100.00% 100.00% 100.00% 100.00% Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento Real Brazil Consumer Finance Credit 50.00% 50.00% 50.00% 50.00% Hipercard Banco Múltiplo S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Itauseg Seguradora S.A. Real Brazil Insurance 100.00% 99.99% 100.00% 99.99% Itaú Corretora de Valores S.A. Real Brazil Securities Broker 100.00% 100.00% 100.00% 100.00% Itaú Seguros S.A. Real Brazil Insurance 100.00% 100.00% 100.00% 100.00% Itaú Unibanco S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Itaú Vida e Previdência S.A. Real Brazil Pension Plan 100.00% 100.00% 100.00% 100.00% Luizacred S.A. Sociedade de Crédito, Financiamento e Investimento Real Brazil Consumer Finance Credit 50.00% 50.00% 50.00% 50.00% Redecard S.A. Real Brazil Acquier 100.00% 100.00% 100.00% 100.00% Foreign Itaú CorpBanca Colombia S.A. (Note 2c) Colombian Peso Colombia Financial institution 25.28% 23.90% 25.28% 23.90% Banco Itaú (Suisse) S.A. Swiss Franc Switzerland Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaú Argentina S.A. Argentine Peso Argentina Financial institution 100.00% 100.00% 100.00% 100.00% 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% Itau BBA International plc US Dollar United Kingdom Financial institution 100.00% 100.00% 100.00% 100.00% Itau BBA USA Securities Inc. Real United States Securities Broker 100.00% 100.00% 100.00% 100.00% (2) Chile Financial institution (Note 2c) Chilean Peso 38.14% 36.06% 38.14% 36.06% Itaú CorpBanca (1) All overseas offices of ITAÚ UNIBANCO HOLDING CONSOLIDATED have the same functional currency as the parent company, except for CorpBanca New York Branch, which uses the US Dollar (2) ITAÚ UNIBANCO HOLDING controls ITAÚ CORPBANCA due to the shareholders’ agreement. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 60 The consolidated financial statements cover ITAÚ UNIBANCO HOLDING and its direct and indirect subsidiaries. We list below the main companies which together represent over 95% of total consolidated assets: Interest in total Interest in voting Country of (1) capital at Functional currency Activity capital at Incorporation 09/30/2019 09/30/2018 09/30/2019 09/30/2018 In Brazil Banco Itaú BBA S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaú Consignado S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaucard S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itauleasing S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Cia. Itaú de Capitalização Real Brazil Capitalization 100.00% 100.00% 100.00% 100.00% Dibens Leasing S.A. - Arrendamento Mercantil Real Brazil Leasing 100.00% 100.00% 100.00% 100.00% Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento Real Brazil Consumer Finance Credit 50.00% 50.00% 50.00% 50.00% Hipercard Banco Múltiplo S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Itauseg Seguradora S.A. Real Brazil Insurance 100.00% 99.99% 100.00% 99.99% Itaú Corretora de Valores S.A. Real Brazil Securities Broker 100.00% 100.00% 100.00% 100.00% Itaú Seguros S.A. Real Brazil Insurance 100.00% 100.00% 100.00% 100.00% Itaú Unibanco S.A. Real Brazil Financial institution 100.00% 100.00% 100.00% 100.00% Itaú Vida e Previdência S.A. Real Brazil Pension Plan 100.00% 100.00% 100.00% 100.00% Luizacred S.A. Sociedade de Crédito, Financiamento e Investimento Real Brazil Consumer Finance Credit 50.00% 50.00% 50.00% 50.00% Redecard S.A. Real Brazil Acquier 100.00% 100.00% 100.00% 100.00% Foreign Itaú CorpBanca Colombia S.A. (Note 2c) Colombian Peso Colombia Financial institution 25.28% 23.90% 25.28% 23.90% Banco Itaú (Suisse) S.A. Swiss Franc Switzerland Financial institution 100.00% 100.00% 100.00% 100.00% Banco Itaú Argentina S.A. Argentine Peso Argentina Financial institution 100.00% 100.00% 100.00% 100.00% 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% Itau BBA International plc US Dollar United Kingdom Financial institution 100.00% 100.00% 100.00% 100.00% Itau BBA USA Securities Inc. Real United States Securities Broker 100.00% 100.00% 100.00% 100.00% (2) Chile Financial institution (Note 2c) Chilean Peso 38.14% 36.06% 38.14% 36.06% Itaú CorpBanca (1) All overseas offices of ITAÚ UNIBANCO HOLDING CONSOLIDATED have the same functional currency as the parent company, except for CorpBanca New York Branch, which uses the US Dollar (2) ITAÚ UNIBANCO HOLDING controls ITAÚ CORPBANCA due to the shareholders’ agreement. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 60

c) Business development Acquisition of minority interest in Ticket Serviços S.A. On September 4, 2018, ITAÚ UNIBANCO HOLDING, through its subsidiary Itaú Unibanco S.A. (ITAÚ UNIBANCO), entered into a strategic partnership with Edenred Participações S.A. (EDENRED) in the benefits market for workers covered mainly by PAT, the Workers’ Meals Program. EDENRED is the parent company of Ticket Serviços S.A. (TICKET) in Brazil. The strategic partnership enables ITAÚ UNIBANCO to add the benefits issued by TICKET to its current range of products and services for customers in the wholesale, medium, micro and small company segments. In addition, ITAÚ UNIBANCO made 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 ITAÚ UNIBANCO 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. Effective acquisitions and financial settlements occurred on August 30, 2019. After the obtainment of regulatory and government authorizations required. Itaú CorpBanca st The Itaú Corpbanca (ITAÚ CORPBANCA) is controlled as of April 1 , 2016 by ITAÚ UNIBANCO HOLDING CONSOLIDATED. 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 CONSOLIDATED, 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 million 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 milions and acquisition of shares issued by XP HOLDING held by the SELLERS in the amount of R$ 5,700 milions, and such amounts were restated pursuant to contractual provision, totaling R$ 6,650 milions (FIRST ACQUISITION). A portion of this amount was 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 income (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. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 61 c) Business development Acquisition of minority interest in Ticket Serviços S.A. On September 4, 2018, ITAÚ UNIBANCO HOLDING, through its subsidiary Itaú Unibanco S.A. (ITAÚ UNIBANCO), entered into a strategic partnership with Edenred Participações S.A. (EDENRED) in the benefits market for workers covered mainly by PAT, the Workers’ Meals Program. EDENRED is the parent company of Ticket Serviços S.A. (TICKET) in Brazil. The strategic partnership enables ITAÚ UNIBANCO to add the benefits issued by TICKET to its current range of products and services for customers in the wholesale, medium, micro and small company segments. In addition, ITAÚ UNIBANCO made 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 ITAÚ UNIBANCO 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. Effective acquisitions and financial settlements occurred on August 30, 2019. After the obtainment of regulatory and government authorizations required. Itaú CorpBanca st The Itaú Corpbanca (ITAÚ CORPBANCA) is controlled as of April 1 , 2016 by ITAÚ UNIBANCO HOLDING CONSOLIDATED. 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 CONSOLIDATED, 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 million 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 milions and acquisition of shares issued by XP HOLDING held by the SELLERS in the amount of R$ 5,700 milions, and such amounts were restated pursuant to contractual provision, totaling R$ 6,650 milions (FIRST ACQUISITION). A portion of this amount was 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 income (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. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 61

Note 3 – Summary of significant accounting practices a) Cash and cash equivalents - Defined as cash and current accounts in banks, shown in the Consolidated Balance Sheet under the heading Cash, Interbank Deposits and Money market with original maturities not exceeding 90 days. b) Short-term Interbank investments, Remunerated restricted Credits held at the Brazilian Central Bank (BACEN), Remunerated deposits, deposits received under securities repurchase agreements, funds from acceptance and issuance of securities, borrowing and onlending, subordinated debt and other receivables and payables – Operations with fixed interest and charges are booked at present value. Operations with floating interest and charges are booked at the adjusted principal amount. Operations subject to foreign exchange variation are booked at the corresponding amount in local currency. Liabilities are presented net of the transaction costs incurred, if significant, calculated pro rata on a daily basis. c) Securities - Recorded at the cost of acquisition restated by the index and/or effective interest rate and presented in the Balance Sheet as required by BACEN Circular nº. 3,068, of November 8, 2001. Securities are classified into the following categories: · Trading securities – Securities acquired to be actively and frequently traded, They are marked to market, with a counter-entry to the results for the period; · Available-for-sale securities – Securities that can be negotiated but are not acquired for the purposes of active and frequent trading. They are marked to market, with a counter-entry to a specific account in stockholders’ equity; · Held-to-maturity securities – Securities, other than non-redeemable shares, which the bank has the financial capacity and intends, or is required, to hold in the portfolio to maturity. They are recorded at the cost of acquisition, or market value, whenever these are transferred from another category. The securities are adjusted up to maturity date, but are not marked to market. Gains and losses on available-for-sale securities, when realized, are recognized on the trade date in the statement of income, with a counter-entry to a specific account in stockholders’ equity account. Decreases in the market value of available-for-sale and held-to-maturity securities below to cost, resulting from causes not considered to be temporary, are recorded in the results as realized losses. d) Derivative financial instruments - These are classified on the date of their acquisition, according to whether or not management intends to use them for hedging, according to BACEN Circular 3,082, of January 30, 2002. Transactions involving financial instruments, carried out at a customer’s request, for the bank’s own account, or which do not comply with the hedging criteria (mainly derivatives used to manage overall risk exposure), are stated at market value, including realized and unrealized gains and losses, which are recorded directly in the statement of income. Derivatives that are used for protection against risk exposure or to modify the characteristics of financial assets and liabilities, where changes in market value are closely related to those of the items being protected at the beginning and throughout the duration of the contract, and which are considered to be effective in reducing the risk exposure in question, are classified as hedges of the following types: · Market Risk Hedge – Financial assets and liabilities, as well as their related financial instruments, are booked at market value, plus realized and unrealized gains and losses, which are recorded directly in the statement of income; · Cash Flow Hedge - The effective portion of a hedge of financial assets and liabilities, and the related financial instruments, are booked at market value plus realized and unrealized gains and losses, net of tax effects, when applicable, and recorded in a specific account in stockholders’ equity. The ineffective portion is recorded directly in the statement of income; Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 62 Note 3 – Summary of significant accounting practices a) Cash and cash equivalents - Defined as cash and current accounts in banks, shown in the Consolidated Balance Sheet under the heading Cash, Interbank Deposits and Money market with original maturities not exceeding 90 days. b) Short-term Interbank investments, Remunerated restricted Credits held at the Brazilian Central Bank (BACEN), Remunerated deposits, deposits received under securities repurchase agreements, funds from acceptance and issuance of securities, borrowing and onlending, subordinated debt and other receivables and payables – Operations with fixed interest and charges are booked at present value. Operations with floating interest and charges are booked at the adjusted principal amount. Operations subject to foreign exchange variation are booked at the corresponding amount in local currency. Liabilities are presented net of the transaction costs incurred, if significant, calculated pro rata on a daily basis. c) Securities - Recorded at the cost of acquisition restated by the index and/or effective interest rate and presented in the Balance Sheet as required by BACEN Circular nº. 3,068, of November 8, 2001. Securities are classified into the following categories: · Trading securities – Securities acquired to be actively and frequently traded, They are marked to market, with a counter-entry to the results for the period; · Available-for-sale securities – Securities that can be negotiated but are not acquired for the purposes of active and frequent trading. They are marked to market, with a counter-entry to a specific account in stockholders’ equity; · Held-to-maturity securities – Securities, other than non-redeemable shares, which the bank has the financial capacity and intends, or is required, to hold in the portfolio to maturity. They are recorded at the cost of acquisition, or market value, whenever these are transferred from another category. The securities are adjusted up to maturity date, but are not marked to market. Gains and losses on available-for-sale securities, when realized, are recognized on the trade date in the statement of income, with a counter-entry to a specific account in stockholders’ equity account. Decreases in the market value of available-for-sale and held-to-maturity securities below to cost, resulting from causes not considered to be temporary, are recorded in the results as realized losses. d) Derivative financial instruments - These are classified on the date of their acquisition, according to whether or not management intends to use them for hedging, according to BACEN Circular 3,082, of January 30, 2002. Transactions involving financial instruments, carried out at a customer’s request, for the bank’s own account, or which do not comply with the hedging criteria (mainly derivatives used to manage overall risk exposure), are stated at market value, including realized and unrealized gains and losses, which are recorded directly in the statement of income. Derivatives that are used for protection against risk exposure or to modify the characteristics of financial assets and liabilities, where changes in market value are closely related to those of the items being protected at the beginning and throughout the duration of the contract, and which are considered to be effective in reducing the risk exposure in question, are classified as hedges of the following types: · Market Risk Hedge – Financial assets and liabilities, as well as their related financial instruments, are booked at market value, plus realized and unrealized gains and losses, which are recorded directly in the statement of income; · Cash Flow Hedge - The effective portion of a hedge of financial assets and liabilities, and the related financial instruments, are booked at market value plus realized and unrealized gains and losses, net of tax effects, when applicable, and recorded in a specific account in stockholders’ equity. The ineffective portion is recorded directly in the statement of income; Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 62

· Hedge of Net Investments in Foreign Operations - Accounted for similarly to a cash flow hedge, i.e. the portion of gains or losses on a hedging instrument that is determined to be an effective hedge is recognized in stockholders’ equity, and reclassified to income for the period in the event of the disposal of the foreign operation. The ineffective portion is recognized in income for the period. e) Loans, leases and other credit operations (operations with lending characteristics) – These transactions are recorded at present value and calculated pro rata on a daily basis in line with variations in a defined indexer and interest rate, and are adjusted up to the 60th day of arrears in the financial companies, according to the expectation of payment. After the 60th day, income is recognized only on actual receipt of payments. Credit card operations include receivables arising from purchases made by cardholders. Funds corresponding to these amounts to be paid to the credit card companies are shown as liabilities, under the heading Interbank Accounts – Receipts and Payments Pending Settlement. f) Provision for loan losses - The balance of the provision for loan losses is recorded based on a credit risk analysis, at an amount considered sufficient to cover loan losses in accordance with the rules determined by CMN Resolution nº. 2,682 of December 21, 1999, which include the following: · Provisions are recorded from the date on which loans are granted, based on the customer’s risk rating and on a periodic quality assessment of customers and business sectors, and not only in the event of default; · Exclusively in the case of default, losses are written off 360 days after the credits have matured, or after 540 days for operations with maturities longer than 36 months. The criteria for setting up a provision for Financial Guarantees issued are based on the Expected Loss model. g) Other assets –They are comprised of Assets Held for Sale, relating to real estate vehicles and other assets available for sale (owned but deactivated, received as payment in kind or resulting from execution of guarantees). These assets are adjusted to market value by setting up a provision in accordance with current regulations. This heading also covers unearned reinsurance premiums (Note 3m) and prepaid expenses, corresponding to disbursements which will produce benefits in future years. h) Investments – Include goodwill identified in the acquisition of associates and joint ventures, net of any accumulated impairment loss. They are initially recognized at acquisition cost and are subsequently accounted for under the equity method. · Associates: are companies over which ITAÚ UNIBANCO HOLDING CONSOLIDATED has significant influence, but which it does not control. · Joint Ventures: ITAÚ UNIBANCO HOLDING CONSOLIDATED defines an investment as a joint venture when it has rights over its assets and obligations for related liabilities. i) Fixed assets - Are booked at their acquisition cost less accumulated depreciation and adjusted for impairment, if applicable. Depreciation is calculated on the straight-line method using rates based on the estimated useful lives of these assets. Such rates and other details are presented in Note 12b I. Residual values and useful lives of assets are reviewed and adjusted, if necessary, at the end of each year. ITAÚ UNIBANCO HOLDING CONSOLIDATED values its assets in order to identify indications of impairment in their recoverable amounts. The recoverable amount of an asset is defined as the higher of its fair value less selling costs and its value in use. For valuation purposes, assets are grouped at the lowest level for which independent cash flows can be identified (cash-generating units). Valuation may be made at individual asset level when the fair value less selling costs can be reliably determined. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 63 · Hedge of Net Investments in Foreign Operations - Accounted for similarly to a cash flow hedge, i.e. the portion of gains or losses on a hedging instrument that is determined to be an effective hedge is recognized in stockholders’ equity, and reclassified to income for the period in the event of the disposal of the foreign operation. The ineffective portion is recognized in income for the period. e) Loans, leases and other credit operations (operations with lending characteristics) – These transactions are recorded at present value and calculated pro rata on a daily basis in line with variations in a defined indexer and interest rate, and are adjusted up to the 60th day of arrears in the financial companies, according to the expectation of payment. After the 60th day, income is recognized only on actual receipt of payments. Credit card operations include receivables arising from purchases made by cardholders. Funds corresponding to these amounts to be paid to the credit card companies are shown as liabilities, under the heading Interbank Accounts – Receipts and Payments Pending Settlement. f) Provision for loan losses - The balance of the provision for loan losses is recorded based on a credit risk analysis, at an amount considered sufficient to cover loan losses in accordance with the rules determined by CMN Resolution nº. 2,682 of December 21, 1999, which include the following: · Provisions are recorded from the date on which loans are granted, based on the customer’s risk rating and on a periodic quality assessment of customers and business sectors, and not only in the event of default; · Exclusively in the case of default, losses are written off 360 days after the credits have matured, or after 540 days for operations with maturities longer than 36 months. The criteria for setting up a provision for Financial Guarantees issued are based on the Expected Loss model. g) Other assets –They are comprised of Assets Held for Sale, relating to real estate vehicles and other assets available for sale (owned but deactivated, received as payment in kind or resulting from execution of guarantees). These assets are adjusted to market value by setting up a provision in accordance with current regulations. This heading also covers unearned reinsurance premiums (Note 3m) and prepaid expenses, corresponding to disbursements which will produce benefits in future years. h) Investments – Include goodwill identified in the acquisition of associates and joint ventures, net of any accumulated impairment loss. They are initially recognized at acquisition cost and are subsequently accounted for under the equity method. · Associates: are companies over which ITAÚ UNIBANCO HOLDING CONSOLIDATED has significant influence, but which it does not control. · Joint Ventures: ITAÚ UNIBANCO HOLDING CONSOLIDATED defines an investment as a joint venture when it has rights over its assets and obligations for related liabilities. i) Fixed assets - Are booked at their acquisition cost less accumulated depreciation and adjusted for impairment, if applicable. Depreciation is calculated on the straight-line method using rates based on the estimated useful lives of these assets. Such rates and other details are presented in Note 12b I. Residual values and useful lives of assets are reviewed and adjusted, if necessary, at the end of each year. ITAÚ UNIBANCO HOLDING CONSOLIDATED values its assets in order to identify indications of impairment in their recoverable amounts. The recoverable amount of an asset is defined as the higher of its fair value less selling costs and its value in use. For valuation purposes, assets are grouped at the lowest level for which independent cash flows can be identified (cash-generating units). Valuation may be made at individual asset level when the fair value less selling costs can be reliably determined. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 63

j) Goodwill – Corresponds to the surplus amount paid for the purchase of investments and is amortized based on expected future profitability or as realized. It is tested semiannually for impairment. k) Intangible assets – Composed of: (i) Goodwill paid upon acquisition of a company, transferred to intangible assets due to merger of the acquired company’s equity into the acquirer company; (ii) Right-of-use, as well as rights on the acquisition of payrolls and association agreements, amortized according to agreement terms or as economic benefits flow to the company; and (iii) Software amortized over five years and customer portfolios amortized within ten years. . Intangible assets with definite useful lives are amortized under the straight-line method over their estimated useful lives and those with indefinite useful lives are tested on a half-yearly basis to identify possible impairment losses. l) Capital Transactions with Non-Controlling Stockholders - Changes in an interest in a subsidiary not giving rise to loss of control are accounted for as capital transactions, and any difference between the amount paid and the amount corresponding to the non-controlling stockholders is directly recognized in Consolidated Stockholders’ Equity. m) Insurance, pension plan and capitalization operations – Technical provisions are liabilities arising from obligations of ITAÚ UNIBANCO HOLDING CONSOLIDATED 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 actuarial liability is subject to various 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 past experience of ITAÚ UNIBANCO HOLDING CONSOLIDATED, benchmarks and the experience of the actuary, in order to comply with best market practices and constantly review the actuarial liability. The resulting adjustments, when necessary, are recognized in the statement of income for the corresponding period. Insurance contracts establish, for one of the parties, upon payment (premium) by the other party, the obligation to pay the latter a certain amount in the event of a claim. Insurance risk is defined as a future and uncertain event, of a sudden and unforeseeable nature, independent of the insured’s will, which may cause economic loss when it occurs. Once a 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 the period, unless all rights and obligations are extinguished or expire. Insurance premiums, coinsurance accepted and selling expenses are accounted for upon issue of the insurance policy or in accordance with term of the insurance, through the establishment and reversal of a provision for unearned premiums and deferred selling expenses. Interest arising from fractioning of insurance premiums is accounted for as incurred. Revenues from pension contributions, gross revenue from social security contributions, gross revenue from capitalization certificates and the respective technical provisions are recognized upon receipt. A detailed description of all products classified as insurance contracts can be found in Note 8. Private pension plans Contracts that provide for retirement benefits after an accumulation period (known as PGBL, VGBL or FGB) provide a guarantee, at the commencement date of the contract, of the basis for calculating the retirement benefit (mortality table and minimum interest rates). The contracts specify the annuity rates and, therefore, the insurance risk is transferred to the issuer from the start. These contracts are classified as insurance contracts. Insurance premiums Insurance premiums are recognized upon issue of an insurance policy or over the period of the contract in proportion to the amount of the insurance coverage. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 64 j) Goodwill – Corresponds to the surplus amount paid for the purchase of investments and is amortized based on expected future profitability or as realized. It is tested semiannually for impairment. k) Intangible assets – Composed of: (i) Goodwill paid upon acquisition of a company, transferred to intangible assets due to merger of the acquired company’s equity into the acquirer company; (ii) Right-of-use, as well as rights on the acquisition of payrolls and association agreements, amortized according to agreement terms or as economic benefits flow to the company; and (iii) Software amortized over five years and customer portfolios amortized within ten years. . Intangible assets with definite useful lives are amortized under the straight-line method over their estimated useful lives and those with indefinite useful lives are tested on a half-yearly basis to identify possible impairment losses. l) Capital Transactions with Non-Controlling Stockholders - Changes in an interest in a subsidiary not giving rise to loss of control are accounted for as capital transactions, and any difference between the amount paid and the amount corresponding to the non-controlling stockholders is directly recognized in Consolidated Stockholders’ Equity. m) Insurance, pension plan and capitalization operations – Technical provisions are liabilities arising from obligations of ITAÚ UNIBANCO HOLDING CONSOLIDATED 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 actuarial liability is subject to various 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 past experience of ITAÚ UNIBANCO HOLDING CONSOLIDATED, benchmarks and the experience of the actuary, in order to comply with best market practices and constantly review the actuarial liability. The resulting adjustments, when necessary, are recognized in the statement of income for the corresponding period. Insurance contracts establish, for one of the parties, upon payment (premium) by the other party, the obligation to pay the latter a certain amount in the event of a claim. Insurance risk is defined as a future and uncertain event, of a sudden and unforeseeable nature, independent of the insured’s will, which may cause economic loss when it occurs. Once a 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 the period, unless all rights and obligations are extinguished or expire. Insurance premiums, coinsurance accepted and selling expenses are accounted for upon issue of the insurance policy or in accordance with term of the insurance, through the establishment and reversal of a provision for unearned premiums and deferred selling expenses. Interest arising from fractioning of insurance premiums is accounted for as incurred. Revenues from pension contributions, gross revenue from social security contributions, gross revenue from capitalization certificates and the respective technical provisions are recognized upon receipt. A detailed description of all products classified as insurance contracts can be found in Note 8. Private pension plans Contracts that provide for retirement benefits after an accumulation period (known as PGBL, VGBL or FGB) provide a guarantee, at the commencement date of the contract, of the basis for calculating the retirement benefit (mortality table and minimum interest rates). The contracts specify the annuity rates and, therefore, the insurance risk is transferred to the issuer from the start. These contracts are classified as insurance contracts. Insurance premiums Insurance premiums are recognized upon issue of an insurance policy or over the period of the contract in proportion to the amount of the insurance coverage. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 64

If there is evidence of impairment losses with respect to receivables for insurance premiums, ITAÚ UNIBANCO HOLDING CONSOLIDATED recognizes a provision, sufficient to cover this loss, based on a 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 CONSOLIDATED 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, special features, and the capital necessary to support these limits). These reinsurance agreements allow the recovery of a portion of losses from the reinsurer, although they do not release the insurer from the main obligation as direct insurer of the risks covered by the reinsurance. Acquisition Costs Acquisition costs include direct and indirect costs related to the origination of insurance. These costs are 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. over the term corresponding to the insurance contract. Insurance Contract Liabilities Reserves for claims are established based on past experience, claims in process of payment, estimated amounts of claims incurred but not yet reported, and other factors relevant to the required reserve levels. A provision for premium shortfalls is recognized if the estimated amount of shortfalls exceeds deferred acquisition costs. Liability Adequacy Test ITAÚ UNIBANCO HOLDING CONSOLIDATED tests liability adequacy 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 shortfall identified will be immediately be accounted for in income for the period. The assumptions used to conduct the liability adequacy test are detailed in Note 8. n) Contingent Assets and Liabilities and Legal Liabilities, Tax and Social Security Proceedings – these are potential rights and obligations arising from past events for which realization depends on uncertain future events. They are measured using best estimates through the use of models and criteria which allow for adequate measurement even if there is uncertainty as to the ultimate timing and amount, and the criteria are detailed in Note 9. 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 Other Liabilities; · Possible: which are disclosed in the Consolidated Financial Statements, but no provision is recorded; · Remote: which require neither a provision nor disclosure. Contingent assets are not recognized in the Consolidated Balance Sheet, except when Management of ITAÚ UNIBANCO HOLDING CONSOLIDATED considers that realization is practically certain. In general they correspond to lawsuits with favorable sentences in final and unappealable judgments and to the withdrawal of lawsuits as a result of a settlement payment received or an agreement for set-off against an existing liability. The amount of escrow deposits is adjusted in compliance with current legislation. Contingencies guaranteed by indemnity clauses in privatization processes, and which are liquid, are only recognized upon judicial notification. Since receivables are recognized simultaneously, there is no effect on results. Legal Liabilities, Tax and Social Security Proceedings Represented by amounts payable for tax liabilities, the legality or constitutionality of which are subject to judicial challenge, recognized for the full amount under discussion. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 65 If there is evidence of impairment losses with respect to receivables for insurance premiums, ITAÚ UNIBANCO HOLDING CONSOLIDATED recognizes a provision, sufficient to cover this loss, based on a 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 CONSOLIDATED 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, special features, and the capital necessary to support these limits). These reinsurance agreements allow the recovery of a portion of losses from the reinsurer, although they do not release the insurer from the main obligation as direct insurer of the risks covered by the reinsurance. Acquisition Costs Acquisition costs include direct and indirect costs related to the origination of insurance. These costs are 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. over the term corresponding to the insurance contract. Insurance Contract Liabilities Reserves for claims are established based on past experience, claims in process of payment, estimated amounts of claims incurred but not yet reported, and other factors relevant to the required reserve levels. A provision for premium shortfalls is recognized if the estimated amount of shortfalls exceeds deferred acquisition costs. Liability Adequacy Test ITAÚ UNIBANCO HOLDING CONSOLIDATED tests liability adequacy 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 shortfall identified will be immediately be accounted for in income for the period. The assumptions used to conduct the liability adequacy test are detailed in Note 8. n) Contingent Assets and Liabilities and Legal Liabilities, Tax and Social Security Proceedings – these are potential rights and obligations arising from past events for which realization depends on uncertain future events. They are measured using best estimates through the use of models and criteria which allow for adequate measurement even if there is uncertainty as to the ultimate timing and amount, and the criteria are detailed in Note 9. 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 Other Liabilities; · Possible: which are disclosed in the Consolidated Financial Statements, but no provision is recorded; · Remote: which require neither a provision nor disclosure. Contingent assets are not recognized in the Consolidated Balance Sheet, except when Management of ITAÚ UNIBANCO HOLDING CONSOLIDATED considers that realization is practically certain. In general they correspond to lawsuits with favorable sentences in final and unappealable judgments and to the withdrawal of lawsuits as a result of a settlement payment received or an agreement for set-off against an existing liability. The amount of escrow deposits is adjusted in compliance with current legislation. Contingencies guaranteed by indemnity clauses in privatization processes, and which are liquid, are only recognized upon judicial notification. Since receivables are recognized simultaneously, there is no effect on results. Legal Liabilities, Tax and Social Security Proceedings Represented by amounts payable for tax liabilities, the legality or constitutionality of which are subject to judicial challenge, recognized for the full amount under discussion. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 65

o) Provision for Financial Guarantees Issued – Recognized based on the expected loss model, in an amount sufficient to cover any probable losses over the whole guarantee period. p) Income tax and social contribution – There are two components of the provision for income tax and social contribution: current and deferred. The current component is approximately the total of taxes to be paid or recovered during the period in question. 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. Deferred tax assets are only recognized when it is probable that future taxable income will be available for offsetting. The 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 Stockholders’ Equity, such as tax on marking available-for-sale financial assets to market, post-employment benefits and tax on cash flow hedges and hedge of net investment in foreign operations. Subsequently, these items are recognized in income together with the recognition of the gain/loss originally deferred. Changes in tax legislation and rates are recognized in the Consolidated statement of income under Income tax and social contribution in the period in which they are enacted. Interest and fines are recognized in the consolidated statement of income under Other administrative expenses. Tax rates, as well as their calculation bases, are detailed in Note 11. q) Deferred income – this refers to: (i) interest received in advance on which there is no prospect of demand for payment and which depends only on the passage of time to be appropriated to effective income, and (ii) the negative goodwill on acquisition of investments, which has not been absorbed in the consolidation process. r) Post-employments benefits Pension plans - defined benefit plans The liability (or asset, as the case may be) recognized in the consolidated balance sheet with respect to a defined benefit plan corresponds to the present value of the defined benefit obligations on the balance sheet date less the fair value of the plan assets. The defined benefit obligation is calculated annually by an independent actuarial consulting company using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated amount of future cash flows of benefit payments at the rate for Brazilian treasury long term securities denominated in Reais and with maturity periods similar to the term of the pension plan liabilities. Pension plans - defined contribution For defined contribution plans, contributions to plans made by ITAÚ UNIBANCO HOLDING CONSOLIDATED, through pension plan funds, are recognized as expenses when due. Other post-employment benefit obligations These obligations are assessed annually by independent, qualified actuaries, and the costs expected from these benefits are accrued over the period of employment. Gains and losses arising from changes in practices and variations in actuarial assumptions are recognized in stockholders’ equity in Equity valuation adjustment in the period in which they occur. s) Foreign currency translation I - Functional and presentation currency The Financial Statements of ITAÚ UNIBANCO HOLDING CONSOLIDATED are presented in Brazilian Reais, its functional and presentation currency. For each subsidiary, joint venture or investment in an associates, ITAÚ UNIBANCO HOLDING CONSOLIDATED defines the functional currency as the currency of the primary economic environment in which the entity operates. II - Foreign Currency Transactions Foreign currency transactions are translated using the exchange rates prevailing on 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 hedges, which are recognized in Stockholders' Equity. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 66 o) Provision for Financial Guarantees Issued – Recognized based on the expected loss model, in an amount sufficient to cover any probable losses over the whole guarantee period. p) Income tax and social contribution – There are two components of the provision for income tax and social contribution: current and deferred. The current component is approximately the total of taxes to be paid or recovered during the period in question. 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. Deferred tax assets are only recognized when it is probable that future taxable income will be available for offsetting. The 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 Stockholders’ Equity, such as tax on marking available-for-sale financial assets to market, post-employment benefits and tax on cash flow hedges and hedge of net investment in foreign operations. Subsequently, these items are recognized in income together with the recognition of the gain/loss originally deferred. Changes in tax legislation and rates are recognized in the Consolidated statement of income under Income tax and social contribution in the period in which they are enacted. Interest and fines are recognized in the consolidated statement of income under Other administrative expenses. Tax rates, as well as their calculation bases, are detailed in Note 11. q) Deferred income – this refers to: (i) interest received in advance on which there is no prospect of demand for payment and which depends only on the passage of time to be appropriated to effective income, and (ii) the negative goodwill on acquisition of investments, which has not been absorbed in the consolidation process. r) Post-employments benefits Pension plans - defined benefit plans The liability (or asset, as the case may be) recognized in the consolidated balance sheet with respect to a defined benefit plan corresponds to the present value of the defined benefit obligations on the balance sheet date less the fair value of the plan assets. The defined benefit obligation is calculated annually by an independent actuarial consulting company using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated amount of future cash flows of benefit payments at the rate for Brazilian treasury long term securities denominated in Reais and with maturity periods similar to the term of the pension plan liabilities. Pension plans - defined contribution For defined contribution plans, contributions to plans made by ITAÚ UNIBANCO HOLDING CONSOLIDATED, through pension plan funds, are recognized as expenses when due. Other post-employment benefit obligations These obligations are assessed annually by independent, qualified actuaries, and the costs expected from these benefits are accrued over the period of employment. Gains and losses arising from changes in practices and variations in actuarial assumptions are recognized in stockholders’ equity in Equity valuation adjustment in the period in which they occur. s) Foreign currency translation I - Functional and presentation currency The Financial Statements of ITAÚ UNIBANCO HOLDING CONSOLIDATED are presented in Brazilian Reais, its functional and presentation currency. For each subsidiary, joint venture or investment in an associates, ITAÚ UNIBANCO HOLDING CONSOLIDATED defines the functional currency as the currency of the primary economic environment in which the entity operates. II - Foreign Currency Transactions Foreign currency transactions are translated using the exchange rates prevailing on 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 hedges, which are recognized in Stockholders' Equity. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 66

Note 4 - Interbank investments 09/30/2019 09/30/2018 0 - 30 31 - 180 181 - 365 Over 365 days Total % Total % Securities purchased under agreements to resell 34,539,201 205,859,443 - 13,281 240,411,925 87.7 289,380,316 90.2 (1) Collateral held 5,547,898 28,411,105 - 13,281 33,972,284 12.4 57,411,021 17.9 Collateral repledge 24,990,706 153,887,359 - - 178,878,065 65.3 190,071,349 59.2 Assets received as collateral with right to sell or repledge 9,918,676 5,409,245 - - 15,327,921 5.6 27,976,536 8.7 Assets received as collateral without right to sell or repledge 15,072,030 148,478,114 - - 163,550,144 59.7 162,094,813 50.5 Short position 27,561,576 10.0 41,897,946 13.1 4,000,597 23,560,979 - - Money market – Assets Guaranteeing Technical Provisions - SUSEP 1,856,844 159,630 - - 2,016,474 0.7 2,940,980 0.9 (Note 8b) 22,658,385 4,119,406 3,548,573 1,384,496 Short-term Interbank deposits 31,710,860 11.6 28,643,909 8.9 (2) Total 59,054,430 210,138,479 3,548,573 1,397,777 274,139,259 100.0 320,965,205 100.0 % per maturity date 21.5 76.7 1.3 0.5 100.0 Total – 09/30/2018 203,649,142 105,404,033 10,952,561 959,469 320,965,205 % per maturity date 63.5 32.8 3.4 0.3 100.0 (1) Includes R$ 7,497,950 (R$ 2,509,631 at 09/30/2018) related to Securities purchased under agreements to resell with free movement, in which securities are restricted to guarantee transactions at the B3 S.A. - Brasil, Bolsa, Balcão (B3) and Central Bank; (2) Includes a securities valuation allowance in the amount of R$ (5,935) (R$ (9,436) at 09/30/2018). In ITAÚ UNIBANCO HOLDING the portfolio is composed of Securities purchased under agreements to resell – Funded position falling due in up to 30 days amounting to R$ 4,130,514 (R$ 50,574 at 09/30/2018), Short-term Interbank deposits with maturity from 181 to 365 days R$ 5,707,166 and over 365 days amounting to R$ 37,006,425 (R$ 68,681,567 at 09/30/2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 67 Note 4 - Interbank investments 09/30/2019 09/30/2018 0 - 30 31 - 180 181 - 365 Over 365 days Total % Total % Securities purchased under agreements to resell 34,539,201 205,859,443 - 13,281 240,411,925 87.7 289,380,316 90.2 (1) Collateral held 5,547,898 28,411,105 - 13,281 33,972,284 12.4 57,411,021 17.9 Collateral repledge 24,990,706 153,887,359 - - 178,878,065 65.3 190,071,349 59.2 Assets received as collateral with right to sell or repledge 9,918,676 5,409,245 - - 15,327,921 5.6 27,976,536 8.7 Assets received as collateral without right to sell or repledge 15,072,030 148,478,114 - - 163,550,144 59.7 162,094,813 50.5 Short position 27,561,576 10.0 41,897,946 13.1 4,000,597 23,560,979 - - Money market – Assets Guaranteeing Technical Provisions - SUSEP 1,856,844 159,630 - - 2,016,474 0.7 2,940,980 0.9 (Note 8b) 22,658,385 4,119,406 3,548,573 1,384,496 Short-term Interbank deposits 31,710,860 11.6 28,643,909 8.9 (2) Total 59,054,430 210,138,479 3,548,573 1,397,777 274,139,259 100.0 320,965,205 100.0 % per maturity date 21.5 76.7 1.3 0.5 100.0 Total – 09/30/2018 203,649,142 105,404,033 10,952,561 959,469 320,965,205 % per maturity date 63.5 32.8 3.4 0.3 100.0 (1) Includes R$ 7,497,950 (R$ 2,509,631 at 09/30/2018) related to Securities purchased under agreements to resell with free movement, in which securities are restricted to guarantee transactions at the B3 S.A. - Brasil, Bolsa, Balcão (B3) and Central Bank; (2) Includes a securities valuation allowance in the amount of R$ (5,935) (R$ (9,436) at 09/30/2018). In ITAÚ UNIBANCO HOLDING the portfolio is composed of Securities purchased under agreements to resell – Funded position falling due in up to 30 days amounting to R$ 4,130,514 (R$ 50,574 at 09/30/2018), Short-term Interbank deposits with maturity from 181 to 365 days R$ 5,707,166 and over 365 days amounting to R$ 37,006,425 (R$ 68,681,567 at 09/30/2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 67

Note 5 – Securities and derivative financial instruments (assets and liabilities) See below the composition by Securities and Derivatives type, maturity and portfolio already adjusted to their respective market values. a) Summary per maturity 09/30/2019 09/30/2018 Adjustment to market value Over 720 Cost Market value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Market value Stockholders’ days Results equity Government securities - Brazil 152,888,927 1,419,008 3,830,167 158,138,102 30.9 3,998,423 39,142 3,751,444 9,329,323 20,528,162 120,491,608 130,464,712 Financial treasury bills 29,010,439 583 2 29,011,024 5.7 - - 985,974 698,992 7,693,957 19,632,101 26,481,430 National treasury bills 17,156,255 70,696 75,106 17,302,057 3.4 1,925,068 - 1,634,499 6,191,404 1,445,527 6,105,559 21,013,883 National treasury notes 69,508,397 1,217,799 3,062,838 73,789,034 14.4 10,906 39,122 159,022 1,776,559 4,751,452 67,051,973 46,844,172 National treasury / securitization 159,070 ( 227) 38,143 196,986 0.0 - 20 15 52 63 196,836 197,898 Brazilian external debt bonds 37,054,766 130,157 654,078 37,839,001 7.4 2,062,449 - 971,934 662,316 6,637,163 27,505,139 35,927,329 37,656,252 ( 45,795) (180,267) 37,430,190 7.3 1,763,593 3,341,330 4,846,903 8,425,999 11,395,788 7,656,577 28,272,796 Government securities - abroad Germany 22,877 - 40 22,917 0.0 - - - - 22,917 - - Argentina 1,037,077 (53,824) - 983,253 0.2 862,454 3,810 29,994 38,851 46,267 1,877 713,682 Chile 12,014,298 1,858 162,646 12,178,802 2.4 23,296 5,046 796,991 1,955,661 3,896,549 5,501,259 7,818,835 Colombia 3,456,048 6,010 24,211 3,486,269 0.7 59,391 125,320 355,250 832,227 695,393 1,418,688 7,000,305 Korea 3,430,290 - - 3,430,290 0.7 - - - 1,832,440 1,597,850 - 1,944,229 Denmark - - - - 0.0 - - - - - - 492,518 Spain 4,973,635 - (1) 4,973,634 1.0 - 340,798 212,280 863,737 3,556,819 - 3,079,731 United States 3,386,621 (5) (4,489) 3,382,127 0.7 216,776 624,385 798,225 680,844 750,364 311,533 2,363,229 Italy 145,536 - 1,522 147,058 0.0 - - - - 147,058 - - Mexico 6,491,625 ( 66) ( 176,573) 6,314,986 1.2 189,166 2,164,108 2,312,379 1,599,965 - 49,368 2,326,543 Panama 21,143 - 94 21,237 0.0 - - 21,237 - - - - Paraguay 1,932,336 84 (184,853) 1,747,567 0.3 404,092 65,139 92,841 546,002 421,976 217,517 1,640,137 Uruguay 735,929 ( 349) ( 2,853) 732,727 0.1 8,418 12,724 227,706 76,235 260,595 147,049 890,811 Other 8,837 497 ( 11) 9,323 0.0 - - - 37 - 9,286 2,776 Corporate securities 73,776,798 (352,340) 866,125 74,290,583 14.6 10,379,449 1,659,143 1,538,354 9,821,795 5,492,267 45,399,575 59,253,227 Shares 5,401,487 ( 409,157) 113,444 5,105,774 1.0 5,105,774 - - - - - 3,492,940 Rural product note 4,655,051 - 54,861 4,709,912 1.0 63,368 222,677 339,163 785,110 479,026 2,820,568 4,100,342 Bank deposit certificates 672,971 ( 40) ( 1) 672,930 0.1 246,166 97,310 57,772 271,507 175 - 680,071 Real estate receivables certificates 9,084,267 10,950 55,587 9,150,804 1.8 - - - 47,944 226,781 8,876,079 11,967,235 Fund quotas 4,320,900 8,998 - 4,329,898 0.9 4,329,898 - - - - - 2,693,625 Credit rights 2,978,337 - - 2,978,337 0.6 2,978,337 - - - - - 256,668 Fixed income 954,079 331 - 954,410 0.2 954,410 - - - - - 1,158,694 Variable income 388,484 8,667 - 397,151 0.1 397,151 - - - - - 1,278,263 Debentures 38,126,181 37,770 578,853 38,742,804 7.6 18,514 179,234 37,591 6,923,554 2,502,404 29,081,507 24,537,733 Eurobonds and others 5,434,793 (4,631) 48,099 5,478,261 1.1 306,201 128,592 821,166 769,792 784,738 2,667,772 6,146,805 Financial bills 2,213,440 ( 858) - 2,212,582 0.4 31,765 172,423 167,036 397,212 1,014,427 429,719 2,333,504 Promissory notes 2,635,609 - 11,588 2,647,197 0.5 21,640 761,316 73,949 620,485 475,447 694,360 1,566,168 Other 1,232,099 4,628 3,694 1,240,421 0.2 256,123 97,591 41,677 6,191 9,269 829,570 1,734,804 (1) 199,923,581 - - 199,923,581 39.2 199,923,581 - - - - - 181,627,600 PGBL / VGBL fund quotas Subtotal - securities 464,245,558 1,020,873 4,516,025 469,782,456 92.0 216,065,046 5,039,615 10,136,701 27,577,117 37,416,217 173,547,760 399,618,335 Trading securities 299,867,012 1,020,873 - 300,887,885 59.0 211,058,825 351,302 3,577,625 5,392,160 13,520,202 66,987,771 258,771,877 Available-for-sale securities 124,872,996 - 4,516,025 129,389,021 25.3 3,561,077 4,572,222 6,481,159 17,758,129 17,456,233 79,560,201 98,575,791 (2) 39,505,550 - - 39,505,550 7.7 1,445,144 116,091 77,917 4,426,828 6,439,782 26,999,788 42,270,667 Held-to-maturity securities Derivative financial instruments 40,873,999 19,977,952 20,896,047 - 8.0 3,754,804 2,743,013 4,898,312 3,235,481 5,377,591 20,864,798 28,641,569 Total securities and derivative financial instruments (assets) 484,223,510 21,916,920 4,516,025 510,656,455 100.0 219,819,850 7,782,628 15,035,013 30,812,598 42,793,808 194,412,558 428,259,904 Derivative financial instruments (liabilities) (25,418,901) (22,021,686) - ( 47,440,587) ( 3,208,492) (3,988,638) (5,663,595) ( 3,975,669) ( 9,333,591) ( 21,270,602) (31,827,170) (1) The PGBL and VGBL plans securities portfolios, the ownership and embedded risks of which are the customer’s responsibility, are recorded as securities – trading securities, with a counter-entry to liabilities in Pension Plan Technical Provisions account (Note 8a); (2) Unrecorded adjustment to market value in the amount of R$ 3,305,302 (R$ 123,094 at 09/30/2018), according to Note 5e. During the period ended September 30, 2019, ITAÚ UNIBANCO HOLDING CONSOLIDATED recognized R$ (359,501) of impairment losses of Available-for-Sales Financial Assets (R$ (952,265) and R$ (119,553) of Held-to-Maturity Financial Assets until maturity on September 30, 2018). Transactions with Securities and Derivative Financial Instruments totaled R$ 633,352 (R$ 566,749 at September 30, 2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 68 Note 5 – Securities and derivative financial instruments (assets and liabilities) See below the composition by Securities and Derivatives type, maturity and portfolio already adjusted to their respective market values. a) Summary per maturity 09/30/2019 09/30/2018 Adjustment to market value Over 720 Cost Market value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Market value Stockholders’ days Results equity Government securities - Brazil 152,888,927 1,419,008 3,830,167 158,138,102 30.9 3,998,423 39,142 3,751,444 9,329,323 20,528,162 120,491,608 130,464,712 Financial treasury bills 29,010,439 583 2 29,011,024 5.7 - - 985,974 698,992 7,693,957 19,632,101 26,481,430 National treasury bills 17,156,255 70,696 75,106 17,302,057 3.4 1,925,068 - 1,634,499 6,191,404 1,445,527 6,105,559 21,013,883 National treasury notes 69,508,397 1,217,799 3,062,838 73,789,034 14.4 10,906 39,122 159,022 1,776,559 4,751,452 67,051,973 46,844,172 National treasury / securitization 159,070 ( 227) 38,143 196,986 0.0 - 20 15 52 63 196,836 197,898 Brazilian external debt bonds 37,054,766 130,157 654,078 37,839,001 7.4 2,062,449 - 971,934 662,316 6,637,163 27,505,139 35,927,329 37,656,252 ( 45,795) (180,267) 37,430,190 7.3 1,763,593 3,341,330 4,846,903 8,425,999 11,395,788 7,656,577 28,272,796 Government securities - abroad Germany 22,877 - 40 22,917 0.0 - - - - 22,917 - - Argentina 1,037,077 (53,824) - 983,253 0.2 862,454 3,810 29,994 38,851 46,267 1,877 713,682 Chile 12,014,298 1,858 162,646 12,178,802 2.4 23,296 5,046 796,991 1,955,661 3,896,549 5,501,259 7,818,835 Colombia 3,456,048 6,010 24,211 3,486,269 0.7 59,391 125,320 355,250 832,227 695,393 1,418,688 7,000,305 Korea 3,430,290 - - 3,430,290 0.7 - - - 1,832,440 1,597,850 - 1,944,229 Denmark - - - - 0.0 - - - - - - 492,518 Spain 4,973,635 - (1) 4,973,634 1.0 - 340,798 212,280 863,737 3,556,819 - 3,079,731 United States 3,386,621 (5) (4,489) 3,382,127 0.7 216,776 624,385 798,225 680,844 750,364 311,533 2,363,229 Italy 145,536 - 1,522 147,058 0.0 - - - - 147,058 - - Mexico 6,491,625 ( 66) ( 176,573) 6,314,986 1.2 189,166 2,164,108 2,312,379 1,599,965 - 49,368 2,326,543 Panama 21,143 - 94 21,237 0.0 - - 21,237 - - - - Paraguay 1,932,336 84 (184,853) 1,747,567 0.3 404,092 65,139 92,841 546,002 421,976 217,517 1,640,137 Uruguay 735,929 ( 349) ( 2,853) 732,727 0.1 8,418 12,724 227,706 76,235 260,595 147,049 890,811 Other 8,837 497 ( 11) 9,323 0.0 - - - 37 - 9,286 2,776 Corporate securities 73,776,798 (352,340) 866,125 74,290,583 14.6 10,379,449 1,659,143 1,538,354 9,821,795 5,492,267 45,399,575 59,253,227 Shares 5,401,487 ( 409,157) 113,444 5,105,774 1.0 5,105,774 - - - - - 3,492,940 Rural product note 4,655,051 - 54,861 4,709,912 1.0 63,368 222,677 339,163 785,110 479,026 2,820,568 4,100,342 Bank deposit certificates 672,971 ( 40) ( 1) 672,930 0.1 246,166 97,310 57,772 271,507 175 - 680,071 Real estate receivables certificates 9,084,267 10,950 55,587 9,150,804 1.8 - - - 47,944 226,781 8,876,079 11,967,235 Fund quotas 4,320,900 8,998 - 4,329,898 0.9 4,329,898 - - - - - 2,693,625 Credit rights 2,978,337 - - 2,978,337 0.6 2,978,337 - - - - - 256,668 Fixed income 954,079 331 - 954,410 0.2 954,410 - - - - - 1,158,694 Variable income 388,484 8,667 - 397,151 0.1 397,151 - - - - - 1,278,263 Debentures 38,126,181 37,770 578,853 38,742,804 7.6 18,514 179,234 37,591 6,923,554 2,502,404 29,081,507 24,537,733 Eurobonds and others 5,434,793 (4,631) 48,099 5,478,261 1.1 306,201 128,592 821,166 769,792 784,738 2,667,772 6,146,805 Financial bills 2,213,440 ( 858) - 2,212,582 0.4 31,765 172,423 167,036 397,212 1,014,427 429,719 2,333,504 Promissory notes 2,635,609 - 11,588 2,647,197 0.5 21,640 761,316 73,949 620,485 475,447 694,360 1,566,168 Other 1,232,099 4,628 3,694 1,240,421 0.2 256,123 97,591 41,677 6,191 9,269 829,570 1,734,804 (1) 199,923,581 - - 199,923,581 39.2 199,923,581 - - - - - 181,627,600 PGBL / VGBL fund quotas Subtotal - securities 464,245,558 1,020,873 4,516,025 469,782,456 92.0 216,065,046 5,039,615 10,136,701 27,577,117 37,416,217 173,547,760 399,618,335 Trading securities 299,867,012 1,020,873 - 300,887,885 59.0 211,058,825 351,302 3,577,625 5,392,160 13,520,202 66,987,771 258,771,877 Available-for-sale securities 124,872,996 - 4,516,025 129,389,021 25.3 3,561,077 4,572,222 6,481,159 17,758,129 17,456,233 79,560,201 98,575,791 (2) 39,505,550 - - 39,505,550 7.7 1,445,144 116,091 77,917 4,426,828 6,439,782 26,999,788 42,270,667 Held-to-maturity securities Derivative financial instruments 40,873,999 19,977,952 20,896,047 - 8.0 3,754,804 2,743,013 4,898,312 3,235,481 5,377,591 20,864,798 28,641,569 Total securities and derivative financial instruments (assets) 484,223,510 21,916,920 4,516,025 510,656,455 100.0 219,819,850 7,782,628 15,035,013 30,812,598 42,793,808 194,412,558 428,259,904 Derivative financial instruments (liabilities) (25,418,901) (22,021,686) - ( 47,440,587) ( 3,208,492) (3,988,638) (5,663,595) ( 3,975,669) ( 9,333,591) ( 21,270,602) (31,827,170) (1) The PGBL and VGBL plans securities portfolios, the ownership and embedded risks of which are the customer’s responsibility, are recorded as securities – trading securities, with a counter-entry to liabilities in Pension Plan Technical Provisions account (Note 8a); (2) Unrecorded adjustment to market value in the amount of R$ 3,305,302 (R$ 123,094 at 09/30/2018), according to Note 5e. During the period ended September 30, 2019, ITAÚ UNIBANCO HOLDING CONSOLIDATED recognized R$ (359,501) of impairment losses of Available-for-Sales Financial Assets (R$ (952,265) and R$ (119,553) of Held-to-Maturity Financial Assets until maturity on September 30, 2018). Transactions with Securities and Derivative Financial Instruments totaled R$ 633,352 (R$ 566,749 at September 30, 2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 68

b) Summary by portfolio 09/30/2019 Restricted to Derivative Assets guaranteeing Own portfolio Repurchase Pledged financial technical provisions Total Free portfolio Central Bank instruments (Note 8b) agreements guarantees (*) 81,488,912 42,761,600 15,726,401 1,374,275 4,366,870 - 12,420,044 158,138,102 Government securities - Brazil Financial treasury bills 22,675,954 3,545,645 413,926 533,342 523,009 - 1,319,148 29,011,024 National treasury bills 8,644,385 8,164,135 204,278 18,342 - - 270,917 17,302,057 National treasury notes 27,601,357 31,051,820 45,851 416,166 3,843,861 - 10,829,979 73,789,034 National treasury / Securitization 196,986 - - - - - - 196,986 Brazilian external debt bonds 22,370,230 - 15,062,346 406,425 - - - 37,839,001 33,464,314 553,214 225,622 3,027,218 - - 159,822 37,430,190 Government securities - abroad Germany 22,917 - - - - - - 22,917 Argentina 959,360 6,518 - 17,375 - - - 983,253 Chile 11,770,093 210,738 - 38,149 - - 159,822 12,178,802 Colombia 3,171,964 - 147,957 166,348 - - - 3,486,269 Korea 2,236,221 - - 1,194,069 - - - 3,430,290 Spain 3,770,413 - - 1,203,221 - - - 4,973,634 United States 2,997,624 - - 384,503 - - - 3,382,127 Italy 147,058 - - - - - - 147,058 Mexico 6,314,986 - - - - - - 6,314,986 Panama 21,237 - - - - - - 21,237 Paraguay 1,403,809 335,958 - 7,800 - - - 1,747,567 Uruguay 639,309 - 77,665 15,753 - - - 732,727 Other 9,323 - - - - - - 9,323 Corporate securities 57,160,662 10,039,277 - 3,959,533 - - 3,131,111 74,290,583 Shares 5,102,852 - - 2,922 - - - 5,105,774 Rural product note 4,709,912 - - - - - - 4,709,912 Bank deposit certificates 268,915 - - 567 - - 403,448 672,930 Real estate receivables certificates 9,150,804 - - - - - - 9,150,804 Fund quotas 4,053,973 - - 125,700 - - 150,225 4,329,898 Credit rights 2,978,337 - - - - - - 2,978,337 Fixed income 680,206 - - 123,979 - - 150,225 954,410 Variable income 395,430 - - 1,721 - - - 397,151 Debentures 24,199,972 10,039,277 - 3,805,784 - - 697,771 38,742,804 Eurobonds and other 5,448,622 - - 22,012 - - 7,627 5,478,261 Financial bills 337,994 - - 2,548 - - 1,872,040 2,212,582 Promissory notes 2,647,197 - - - - - - 2,647,197 Other 1,240,421 - - - - - - 1,240,421 PGBL / VGBL fund quotas - - - - - - 199,923,581 199,923,581 Subtotal - securities 172,113,888 53,354,091 15,952,023 8,361,026 4,366,870 - 215,634,558 469,782,456 Trading securities 62,446,761 25,543,258 2,686,808 1,704,648 3,743,073 - 204,763,337 300,887,885 Available-for-sale securities 80,748,787 27,810,833 6,925,352 6,656,378 623,797 - 6,623,874 129,389,021 Held-to-maturity securities 28,918,340 - 6,339,863 - - - 4,247,347 39,505,550 Derivative financial instruments - - - - - 40,873,999 - 40,873,999 Total securities and derivative financial instruments (assets) 172,113,888 53,354,091 15,952,023 8,361,026 4,366,870 40,873,999 215,634,558 510,656,455 Total securities and derivative financial instruments (assets) – 09/30/2018 132,551,337 25,323,216 35,378,568 8,442,807 3,494,518 28,641,569 194,427,889 428,259,904 (*) Represent securities deposited with Contingent Liabilities (Note 9e), Stock Exchanges and the Clearing Houses. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 69 b) Summary by portfolio 09/30/2019 Restricted to Derivative Assets guaranteeing Own portfolio Repurchase Pledged financial technical provisions Total Free portfolio Central Bank instruments (Note 8b) agreements guarantees (*) 81,488,912 42,761,600 15,726,401 1,374,275 4,366,870 - 12,420,044 158,138,102 Government securities - Brazil Financial treasury bills 22,675,954 3,545,645 413,926 533,342 523,009 - 1,319,148 29,011,024 National treasury bills 8,644,385 8,164,135 204,278 18,342 - - 270,917 17,302,057 National treasury notes 27,601,357 31,051,820 45,851 416,166 3,843,861 - 10,829,979 73,789,034 National treasury / Securitization 196,986 - - - - - - 196,986 Brazilian external debt bonds 22,370,230 - 15,062,346 406,425 - - - 37,839,001 33,464,314 553,214 225,622 3,027,218 - - 159,822 37,430,190 Government securities - abroad Germany 22,917 - - - - - - 22,917 Argentina 959,360 6,518 - 17,375 - - - 983,253 Chile 11,770,093 210,738 - 38,149 - - 159,822 12,178,802 Colombia 3,171,964 - 147,957 166,348 - - - 3,486,269 Korea 2,236,221 - - 1,194,069 - - - 3,430,290 Spain 3,770,413 - - 1,203,221 - - - 4,973,634 United States 2,997,624 - - 384,503 - - - 3,382,127 Italy 147,058 - - - - - - 147,058 Mexico 6,314,986 - - - - - - 6,314,986 Panama 21,237 - - - - - - 21,237 Paraguay 1,403,809 335,958 - 7,800 - - - 1,747,567 Uruguay 639,309 - 77,665 15,753 - - - 732,727 Other 9,323 - - - - - - 9,323 Corporate securities 57,160,662 10,039,277 - 3,959,533 - - 3,131,111 74,290,583 Shares 5,102,852 - - 2,922 - - - 5,105,774 Rural product note 4,709,912 - - - - - - 4,709,912 Bank deposit certificates 268,915 - - 567 - - 403,448 672,930 Real estate receivables certificates 9,150,804 - - - - - - 9,150,804 Fund quotas 4,053,973 - - 125,700 - - 150,225 4,329,898 Credit rights 2,978,337 - - - - - - 2,978,337 Fixed income 680,206 - - 123,979 - - 150,225 954,410 Variable income 395,430 - - 1,721 - - - 397,151 Debentures 24,199,972 10,039,277 - 3,805,784 - - 697,771 38,742,804 Eurobonds and other 5,448,622 - - 22,012 - - 7,627 5,478,261 Financial bills 337,994 - - 2,548 - - 1,872,040 2,212,582 Promissory notes 2,647,197 - - - - - - 2,647,197 Other 1,240,421 - - - - - - 1,240,421 PGBL / VGBL fund quotas - - - - - - 199,923,581 199,923,581 Subtotal - securities 172,113,888 53,354,091 15,952,023 8,361,026 4,366,870 - 215,634,558 469,782,456 Trading securities 62,446,761 25,543,258 2,686,808 1,704,648 3,743,073 - 204,763,337 300,887,885 Available-for-sale securities 80,748,787 27,810,833 6,925,352 6,656,378 623,797 - 6,623,874 129,389,021 Held-to-maturity securities 28,918,340 - 6,339,863 - - - 4,247,347 39,505,550 Derivative financial instruments - - - - - 40,873,999 - 40,873,999 Total securities and derivative financial instruments (assets) 172,113,888 53,354,091 15,952,023 8,361,026 4,366,870 40,873,999 215,634,558 510,656,455 Total securities and derivative financial instruments (assets) – 09/30/2018 132,551,337 25,323,216 35,378,568 8,442,807 3,494,518 28,641,569 194,427,889 428,259,904 (*) Represent securities deposited with Contingent Liabilities (Note 9e), Stock Exchanges and the Clearing Houses. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 69

c) Trading securities See below the composition of the portfolio of trading securities by type, stated at cost and market value and by maturity term. 09/30/2019 09/30/2018 Adjustment to Cost market value Market value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Over 720 days Market value (in results) Government securities - Brazil 81,708,495 1,419,008 83,127,503 27.6 1,932,406 39,142 2,692,426 3,936,712 11,642,425 62,884,392 65,406,830 Financial treasury bills 28,763,693 583 28,764,276 9.6 - - 756,663 698,992 7,693,089 19,615,532 26,249,267 National treasury bills 8,748,124 70,696 8,818,820 2.9 1,918,402 - 849,518 966,128 1,143,722 3,941,050 11,726,934 National treasury notes 38,615,183 1,217,799 39,832,982 13.2 10,906 39,122 159,022 1,709,977 1,669,328 36,244,627 24,154,279 National treasury / Securitization 438 ( 227) 211 0.0 - 20 15 52 63 61 417 Brazilian external debt bonds 5,581,057 130,157 5,711,214 1.9 3,098 - 927,208 561,563 1,136,223 3,083,122 3,275,933 Government securities - abroad 2,562,571 ( 45,795) 2,516,776 0.9 887,148 26,088 332,648 350,260 202,922 717,710 1,595,255 Argentina 1,037,077 (53,824) 983,253 0.4 862,454 3,810 29,994 38,851 46,267 1,877 538,482 Chile 386,385 1,858 388,243 0.1 16,821 3,620 8,379 84,639 41,689 233,095 369,791 Colombia 769,736 6,010 775,746 0.3 - 5,935 275,355 44,497 37,113 412,846 359,273 United States 146,129 ( 5) 146,124 0.0 - - - 146,124 - - 120,642 Mexico 50,371 (66) 50,305 0.0 - - 937 - - 49,368 10,444 Paraguay 2,242 84 2,326 0.0 - - - - - 2,326 1,252 Uruguay 162,080 ( 349) 161,731 0.1 7,873 12,723 17,983 36,149 77,853 9,150 192,859 Other 8,551 497 9,048 0.0 - - - - - 9,048 2,512 Corporate securities 15,672,365 ( 352,340) 15,320,025 5.1 8,315,690 286,072 552,551 1,105,188 1,674,855 3,385,669 10,142,192 Shares 4,452,918 (409,157) 4,043,761 1.3 4,043,761 - - - - - 3,017,923 Bank deposit certificates 458,178 ( 40) 458,138 0.2 117,084 68,808 568 271,503 175 - 177,144 Real estate receivables certificates 521,912 10,950 532,862 0.2 - - - - - 532,862 64,641 Fund quotas 4,107,391 8,998 4,116,389 1.3 4,116,389 - - - - - 2,380,396 Credit rights 2,978,337 - 2,978,337 1.0 2,978,337 - - - - - 256,668 Fixed income 740,570 331 740,901 0.2 740,901 - - - - - 845,465 Variable income 388,484 8,667 397,151 0.1 397,151 - - - - - 1,278,263 Debentures 1,627,920 37,770 1,665,690 0.6 6,691 21,555 9,832 66,942 462,080 1,098,590 1,598,137 Eurobonds and other 2,142,910 (4,631) 2,138,279 0.7 - 11,421 375,115 363,340 188,904 1,199,499 717,477 Financial bills 2,213,440 (858) 2,212,582 0.7 31,765 172,423 167,036 397,212 1,014,427 429,719 2,094,860 Other 147,696 4,628 152,324 0.1 - 11,865 - 6,191 9,269 124,999 91,614 PGBL / VGBL fund quotas 199,923,581 - 199,923,581 66.4 199,923,581 - - - - - 181,627,600 Total 299,867,012 1,020,873 300,887,885 100.0 211,058,825 351,302 3,577,625 5,392,160 13,520,202 66,987,771 258,771,877 % per maturity date 70.1 0.1 1.2 1.8 4.5 22.3 Total – 09/30/2018 259,730,754 (958,877) 258,771,877 100.0 189,071,705 676,786 1,492,307 6,114,086 6,352,613 55,064,380 % per maturity date 73.0 0.3 0.6 2.4 2.5 21.2 As of September 30, 2019, ITAÚ UNIBANCO HOLDING’s portfolio comprises National Treasury Notes in the amount of R$ 8,536,775 with maturity above 365 days (R$ 6,229,430 in National Treasury Notes and R$ 3,691,697 in National Treasury Bills as of September 30, 2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 70 c) Trading securities See below the composition of the portfolio of trading securities by type, stated at cost and market value and by maturity term. 09/30/2019 09/30/2018 Adjustment to Cost market value Market value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Over 720 days Market value (in results) Government securities - Brazil 81,708,495 1,419,008 83,127,503 27.6 1,932,406 39,142 2,692,426 3,936,712 11,642,425 62,884,392 65,406,830 Financial treasury bills 28,763,693 583 28,764,276 9.6 - - 756,663 698,992 7,693,089 19,615,532 26,249,267 National treasury bills 8,748,124 70,696 8,818,820 2.9 1,918,402 - 849,518 966,128 1,143,722 3,941,050 11,726,934 National treasury notes 38,615,183 1,217,799 39,832,982 13.2 10,906 39,122 159,022 1,709,977 1,669,328 36,244,627 24,154,279 National treasury / Securitization 438 ( 227) 211 0.0 - 20 15 52 63 61 417 Brazilian external debt bonds 5,581,057 130,157 5,711,214 1.9 3,098 - 927,208 561,563 1,136,223 3,083,122 3,275,933 Government securities - abroad 2,562,571 ( 45,795) 2,516,776 0.9 887,148 26,088 332,648 350,260 202,922 717,710 1,595,255 Argentina 1,037,077 (53,824) 983,253 0.4 862,454 3,810 29,994 38,851 46,267 1,877 538,482 Chile 386,385 1,858 388,243 0.1 16,821 3,620 8,379 84,639 41,689 233,095 369,791 Colombia 769,736 6,010 775,746 0.3 - 5,935 275,355 44,497 37,113 412,846 359,273 United States 146,129 ( 5) 146,124 0.0 - - - 146,124 - - 120,642 Mexico 50,371 (66) 50,305 0.0 - - 937 - - 49,368 10,444 Paraguay 2,242 84 2,326 0.0 - - - - - 2,326 1,252 Uruguay 162,080 ( 349) 161,731 0.1 7,873 12,723 17,983 36,149 77,853 9,150 192,859 Other 8,551 497 9,048 0.0 - - - - - 9,048 2,512 Corporate securities 15,672,365 ( 352,340) 15,320,025 5.1 8,315,690 286,072 552,551 1,105,188 1,674,855 3,385,669 10,142,192 Shares 4,452,918 (409,157) 4,043,761 1.3 4,043,761 - - - - - 3,017,923 Bank deposit certificates 458,178 ( 40) 458,138 0.2 117,084 68,808 568 271,503 175 - 177,144 Real estate receivables certificates 521,912 10,950 532,862 0.2 - - - - - 532,862 64,641 Fund quotas 4,107,391 8,998 4,116,389 1.3 4,116,389 - - - - - 2,380,396 Credit rights 2,978,337 - 2,978,337 1.0 2,978,337 - - - - - 256,668 Fixed income 740,570 331 740,901 0.2 740,901 - - - - - 845,465 Variable income 388,484 8,667 397,151 0.1 397,151 - - - - - 1,278,263 Debentures 1,627,920 37,770 1,665,690 0.6 6,691 21,555 9,832 66,942 462,080 1,098,590 1,598,137 Eurobonds and other 2,142,910 (4,631) 2,138,279 0.7 - 11,421 375,115 363,340 188,904 1,199,499 717,477 Financial bills 2,213,440 (858) 2,212,582 0.7 31,765 172,423 167,036 397,212 1,014,427 429,719 2,094,860 Other 147,696 4,628 152,324 0.1 - 11,865 - 6,191 9,269 124,999 91,614 PGBL / VGBL fund quotas 199,923,581 - 199,923,581 66.4 199,923,581 - - - - - 181,627,600 Total 299,867,012 1,020,873 300,887,885 100.0 211,058,825 351,302 3,577,625 5,392,160 13,520,202 66,987,771 258,771,877 % per maturity date 70.1 0.1 1.2 1.8 4.5 22.3 Total – 09/30/2018 259,730,754 (958,877) 258,771,877 100.0 189,071,705 676,786 1,492,307 6,114,086 6,352,613 55,064,380 % per maturity date 73.0 0.3 0.6 2.4 2.5 21.2 As of September 30, 2019, ITAÚ UNIBANCO HOLDING’s portfolio comprises National Treasury Notes in the amount of R$ 8,536,775 with maturity above 365 days (R$ 6,229,430 in National Treasury Notes and R$ 3,691,697 in National Treasury Bills as of September 30, 2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 70

d) Available-for-sale securities See below the composition of the portfolio of available-for-sale securities by type, stated at cost and market value and by maturity term. 09/30/2019 09/30/2018 Adjustments to market value Cost (in Market value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Over 720 days Market value stockholders' equity) Government securities - Brazil 39,837,856 3,830,167 43,668,023 33.9 936,387 - 1,059,018 1,242,203 2,672,736 37,757,679 34,741,889 Financial treasury bills 246,746 2 246,748 0.2 - - 229,311 - 868 16,569 232,163 National treasury bills 4,290,261 75,106 4,365,367 3.4 6,666 - 784,981 1,107,406 301,805 2,164,509 5,500,119 National treasury notes 23,947,038 3,062,838 27,009,876 20.9 - - - 34,044 1,222,971 25,752,861 15,919,174 National treasury / Securitization 158,632 38,143 196,775 0.2 - - - - - 196,775 197,481 Brazilian external debt bonds 11,195,179 654,078 11,849,257 9.2 929,721 - 44,726 100,753 1,147,092 9,626,965 12,892,952 Government securities - abroad 34,723,323 (180,267) 34,543,056 26.5 817,054 3,284,877 4,478,015 7,847,263 11,192,866 6,922,981 26,241,227 Germany 22,877 40 22,917 0.0 - - - - 22,917 - - Argentina - - - 0.0 - - - - - - 175,200 Chile 11,627,913 162,646 11,790,559 9.1 6,475 1,426 788,612 1,871,022 3,854,860 5,268,164 7,449,044 Colombia 2,331,877 24,211 2,356,088 1.8 - 89,020 43,655 559,291 658,280 1,005,842 6,219,943 Korea 3,430,290 - 3,430,290 2.7 - - - 1,832,440 1,597,850 - 1,944,229 Denmark - - - 0.0 - - - - - - 492,518 Spain 4,973,635 (1) 4,973,634 3.8 - 340,798 212,280 863,737 3,556,819 - 3,079,731 United States 3,240,492 (4,489) 3,236,003 2.5 216,776 624,385 798,225 534,720 750,364 311,533 2,242,587 Italy 145,536 1,522 147,058 0.1 - - - - 147,058 - - Mexico 6,441,254 ( 176,573) 6,264,681 4.8 189,166 2,164,108 2,311,442 1,599,965 - - 2,316,099 Panama 21,143 94 21,237 0.0 - - 21,237 - - - - Paraguay 1,930,094 ( 184,853) 1,745,241 1.3 404,092 65,139 92,841 546,002 421,976 215,191 1,638,885 Uruguay 557,963 ( 2,853) 555,110 0.4 545 1 209,723 40,086 182,742 122,013 682,760 Other 249 ( 11) 238 0.0 - - - - - 238 231 Corporate securities 50,311,817 866,125 51,177,942 39.6 1,807,636 1,287,345 944,126 8,668,663 3,590,631 34,879,541 37,592,675 Shares 948,569 113,444 1,062,013 0.8 1,062,013 - - - - - 475,017 Rural product note 4,655,051 54,861 4,709,912 3.6 63,368 222,677 339,163 785,110 479,026 2,820,568 4,100,342 Bank deposit certificate 214,793 ( 1) 214,792 0.2 129,082 28,502 57,204 4 - - 502,927 Real estate receivables certificates 1,159,560 55,587 1,215,147 0.9 - - - - - 1,215,147 1,437,069 Fund quotas 213,509 - 213,509 0.2 213,509 - - - - - 313,229 Debentures 36,491,967 578,853 37,070,820 28.8 11,823 157,679 27,759 6,856,612 2,040,324 27,976,623 22,933,368 Eurobonds and other 3,291,883 48,099 3,339,982 2.6 306,201 117,171 446,051 406,452 595,834 1,468,273 5,424,896 Financial bills - - - 0.0 - - - - - - 238,644 Promissory notes 2,635,609 11,588 2,647,197 2.0 21,640 761,316 73,949 620,485 475,447 694,360 1,566,168 Other 700,876 3,694 704,570 0.5 - - - - - 704,570 601,015 Total 124,872,996 4,516,025 129,389,021 100.0 3,561,077 4,572,222 6,481,159 17,758,129 17,456,233 79,560,201 98,575,791 % per maturity date 2.8 3.5 5.0 13.7 13.5 61.5 Total – 09/30/2018 99,966,679 ( 1,390,888) 98,575,791 100.0 3,627,361 4,456,632 3,598,717 10,060,137 21,352,550 55,480,394 % per maturity date 3.7 4.5 3.7 10.2 21.7 56.2 At September 30, 2019, at ITAÚ UNIBANCO HOLDING the portfolio is composed of Eurobonds with maturity from over 365 days, with no amount as of that date (R$ 2,780 at September 30,2018) Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 71 d) Available-for-sale securities See below the composition of the portfolio of available-for-sale securities by type, stated at cost and market value and by maturity term. 09/30/2019 09/30/2018 Adjustments to market value Cost (in Market value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Over 720 days Market value stockholders' equity) Government securities - Brazil 39,837,856 3,830,167 43,668,023 33.9 936,387 - 1,059,018 1,242,203 2,672,736 37,757,679 34,741,889 Financial treasury bills 246,746 2 246,748 0.2 - - 229,311 - 868 16,569 232,163 National treasury bills 4,290,261 75,106 4,365,367 3.4 6,666 - 784,981 1,107,406 301,805 2,164,509 5,500,119 National treasury notes 23,947,038 3,062,838 27,009,876 20.9 - - - 34,044 1,222,971 25,752,861 15,919,174 National treasury / Securitization 158,632 38,143 196,775 0.2 - - - - - 196,775 197,481 Brazilian external debt bonds 11,195,179 654,078 11,849,257 9.2 929,721 - 44,726 100,753 1,147,092 9,626,965 12,892,952 Government securities - abroad 34,723,323 (180,267) 34,543,056 26.5 817,054 3,284,877 4,478,015 7,847,263 11,192,866 6,922,981 26,241,227 Germany 22,877 40 22,917 0.0 - - - - 22,917 - - Argentina - - - 0.0 - - - - - - 175,200 Chile 11,627,913 162,646 11,790,559 9.1 6,475 1,426 788,612 1,871,022 3,854,860 5,268,164 7,449,044 Colombia 2,331,877 24,211 2,356,088 1.8 - 89,020 43,655 559,291 658,280 1,005,842 6,219,943 Korea 3,430,290 - 3,430,290 2.7 - - - 1,832,440 1,597,850 - 1,944,229 Denmark - - - 0.0 - - - - - - 492,518 Spain 4,973,635 (1) 4,973,634 3.8 - 340,798 212,280 863,737 3,556,819 - 3,079,731 United States 3,240,492 (4,489) 3,236,003 2.5 216,776 624,385 798,225 534,720 750,364 311,533 2,242,587 Italy 145,536 1,522 147,058 0.1 - - - - 147,058 - - Mexico 6,441,254 ( 176,573) 6,264,681 4.8 189,166 2,164,108 2,311,442 1,599,965 - - 2,316,099 Panama 21,143 94 21,237 0.0 - - 21,237 - - - - Paraguay 1,930,094 ( 184,853) 1,745,241 1.3 404,092 65,139 92,841 546,002 421,976 215,191 1,638,885 Uruguay 557,963 ( 2,853) 555,110 0.4 545 1 209,723 40,086 182,742 122,013 682,760 Other 249 ( 11) 238 0.0 - - - - - 238 231 Corporate securities 50,311,817 866,125 51,177,942 39.6 1,807,636 1,287,345 944,126 8,668,663 3,590,631 34,879,541 37,592,675 Shares 948,569 113,444 1,062,013 0.8 1,062,013 - - - - - 475,017 Rural product note 4,655,051 54,861 4,709,912 3.6 63,368 222,677 339,163 785,110 479,026 2,820,568 4,100,342 Bank deposit certificate 214,793 ( 1) 214,792 0.2 129,082 28,502 57,204 4 - - 502,927 Real estate receivables certificates 1,159,560 55,587 1,215,147 0.9 - - - - - 1,215,147 1,437,069 Fund quotas 213,509 - 213,509 0.2 213,509 - - - - - 313,229 Debentures 36,491,967 578,853 37,070,820 28.8 11,823 157,679 27,759 6,856,612 2,040,324 27,976,623 22,933,368 Eurobonds and other 3,291,883 48,099 3,339,982 2.6 306,201 117,171 446,051 406,452 595,834 1,468,273 5,424,896 Financial bills - - - 0.0 - - - - - - 238,644 Promissory notes 2,635,609 11,588 2,647,197 2.0 21,640 761,316 73,949 620,485 475,447 694,360 1,566,168 Other 700,876 3,694 704,570 0.5 - - - - - 704,570 601,015 Total 124,872,996 4,516,025 129,389,021 100.0 3,561,077 4,572,222 6,481,159 17,758,129 17,456,233 79,560,201 98,575,791 % per maturity date 2.8 3.5 5.0 13.7 13.5 61.5 Total – 09/30/2018 99,966,679 ( 1,390,888) 98,575,791 100.0 3,627,361 4,456,632 3,598,717 10,060,137 21,352,550 55,480,394 % per maturity date 3.7 4.5 3.7 10.2 21.7 56.2 At September 30, 2019, at ITAÚ UNIBANCO HOLDING the portfolio is composed of Eurobonds with maturity from over 365 days, with no amount as of that date (R$ 2,780 at September 30,2018) Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 71

e) Held-to-maturity securities See below the composition of the portfolio of held-to-maturity securities by type, stated at cost and by maturity term. Included in the carrying value at 09/30/2019, not considered in results, is an impairment loss of R$ 288,647 (R$ 382,798 at 09/30/2018). 09/30/2019 09/30/2018 Market Carrying Carrying value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Over 720 days Market value value value 31,342,576 79.3 1,129,630 - - 4,150,408 6,213,001 19,849,537 34,406,258 30,315,993 30,278,006 Government securities - Brazil National treasury bills 4,117,870 10.4 - - - 4,117,870 - - 4,225,995 3,786,830 3,762,208 National treasury notes 6,946,176 17.6 - - - 32,538 1,859,153 5,054,485 8,719,158 6,770,719 7,349,757 Brazilian external debt bonds 20,278,530 51.3 1,129,630 - - - 4,353,848 14,795,052 21,461,105 19,758,444 19,166,041 Government securities - abroad 370,358 0.9 59,391 30,365 36,240 228,476 - 15,886 372,009 436,314 436,474 Colombia 354,435 0.9 59,391 30,365 36,240 228,439 - - 346,787 421,089 414,293 Uruguay 15,886 - - - - - - 15,886 25,221 15,192 22,180 Other 37 - - - - 37 - - 1 33 1 Corporate securities 7,792,616 19.8 256,123 85,726 41,677 47,944 226,781 7,134,365 8,032,585 11,518,360 11,679,281 Real estate receivables certificates 7,402,795 18.8 - - - 47,944 226,781 7,128,070 7,642,764 10,465,525 10,626,446 Debentures 6,294 - - - - - - 6,294 6,294 6,228 6,228 Eurobonds and other - - - - - - - - - 4,432 4,432 Other 383,527 1.0 256,123 85,726 41,677 - - 1 383,527 1,042,175 1,042,175 Total 39,505,550 100.0 1,445,144 116,091 77,917 4,426,828 6,439,782 26,999,788 42,810,852 42,270,667 42,393,761 % per maturity date 3.7 0.3 0.2 11.3 16.3 68.2 Total – 09/30/2018 42,270,667 100.0 525,172 259,682 206,667 948,912 5,238,730 35,091,504 % per maturity date 1.2 0.6 0.5 2.2 12.4 83.1 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 72 e) Held-to-maturity securities See below the composition of the portfolio of held-to-maturity securities by type, stated at cost and by maturity term. Included in the carrying value at 09/30/2019, not considered in results, is an impairment loss of R$ 288,647 (R$ 382,798 at 09/30/2018). 09/30/2019 09/30/2018 Market Carrying Carrying value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Over 720 days Market value value value 31,342,576 79.3 1,129,630 - - 4,150,408 6,213,001 19,849,537 34,406,258 30,315,993 30,278,006 Government securities - Brazil National treasury bills 4,117,870 10.4 - - - 4,117,870 - - 4,225,995 3,786,830 3,762,208 National treasury notes 6,946,176 17.6 - - - 32,538 1,859,153 5,054,485 8,719,158 6,770,719 7,349,757 Brazilian external debt bonds 20,278,530 51.3 1,129,630 - - - 4,353,848 14,795,052 21,461,105 19,758,444 19,166,041 Government securities - abroad 370,358 0.9 59,391 30,365 36,240 228,476 - 15,886 372,009 436,314 436,474 Colombia 354,435 0.9 59,391 30,365 36,240 228,439 - - 346,787 421,089 414,293 Uruguay 15,886 - - - - - - 15,886 25,221 15,192 22,180 Other 37 - - - - 37 - - 1 33 1 Corporate securities 7,792,616 19.8 256,123 85,726 41,677 47,944 226,781 7,134,365 8,032,585 11,518,360 11,679,281 Real estate receivables certificates 7,402,795 18.8 - - - 47,944 226,781 7,128,070 7,642,764 10,465,525 10,626,446 Debentures 6,294 - - - - - - 6,294 6,294 6,228 6,228 Eurobonds and other - - - - - - - - - 4,432 4,432 Other 383,527 1.0 256,123 85,726 41,677 - - 1 383,527 1,042,175 1,042,175 Total 39,505,550 100.0 1,445,144 116,091 77,917 4,426,828 6,439,782 26,999,788 42,810,852 42,270,667 42,393,761 % per maturity date 3.7 0.3 0.2 11.3 16.3 68.2 Total – 09/30/2018 42,270,667 100.0 525,172 259,682 206,667 948,912 5,238,730 35,091,504 % per maturity date 1.2 0.6 0.5 2.2 12.4 83.1 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 72

f) Derivative financial instruments ITAÚ UNIBANCO HOLDING CONSOLIDATED trades in derivative financial instruments with various counterparties to manage its overall exposure and to assist its customers in managing their own exposure. Futures – Interest rate and foreign currency futures contracts are commitments to buy or sell a financial instrument at a future date, at an agreed 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 an agreed price, which are settled in cash. The notional amount represents the quantity of such commodities multiplied by the future price on the contract date. Daily cash settlements of price movements are made for all instruments. Forwards – Interest rate forward contracts are agreements to exchange payments on a specified future date, based on the variation in market 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 at an agreed price, on an agreed settlement date. Financial instrument forward contracts are commitments to buy or sell a financial instrument on a future date at an agreed price and are settled in cash. Swaps – Interest rate and foreign exchange swap contracts are commitments to settle in cash on a future date or dates the differentials between specific 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 shown under 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 a financial instrument within a limited time, including a flow of interest, foreign currencies, commodities, or financial instruments at an agreed price that may also be settled in cash, based on the differential between specific indices. Credit Derivatives – Credit derivatives are financial instruments with value deriving from the credit risk on debt issued by a third party (the reference entity), which permits one party (the buyer of the hedge) to transfer the risk to the counterparty (the seller of the hedge). The seller of the hedge must pay out as provided for in the contract if 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 instrument referenced in the contract undergoes a credit event, and the seller may have to make payment to the purchaser of the hedge for up to the notional amount of the credit derivative. ITAÚ UNIBANCO HOLDING CONSOLIDATED 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 a 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. The total value of margins pledged in guarantee by ITAÚ UNIBANCO HOLDING CONSOLIDATED was R$ 12,061,955 (R$ 7,846,393 at 09/30/2018) and was basically comprised of government securities. Further information on internal controls and parameters used to manage risks may be found in Note 18 - Risk, Capital Management and Fixed Asset Limits. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 73 f) Derivative financial instruments ITAÚ UNIBANCO HOLDING CONSOLIDATED trades in derivative financial instruments with various counterparties to manage its overall exposure and to assist its customers in managing their own exposure. Futures – Interest rate and foreign currency futures contracts are commitments to buy or sell a financial instrument at a future date, at an agreed 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 an agreed price, which are settled in cash. The notional amount represents the quantity of such commodities multiplied by the future price on the contract date. Daily cash settlements of price movements are made for all instruments. Forwards – Interest rate forward contracts are agreements to exchange payments on a specified future date, based on the variation in market 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 at an agreed price, on an agreed settlement date. Financial instrument forward contracts are commitments to buy or sell a financial instrument on a future date at an agreed price and are settled in cash. Swaps – Interest rate and foreign exchange swap contracts are commitments to settle in cash on a future date or dates the differentials between specific 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 shown under 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 a financial instrument within a limited time, including a flow of interest, foreign currencies, commodities, or financial instruments at an agreed price that may also be settled in cash, based on the differential between specific indices. Credit Derivatives – Credit derivatives are financial instruments with value deriving from the credit risk on debt issued by a third party (the reference entity), which permits one party (the buyer of the hedge) to transfer the risk to the counterparty (the seller of the hedge). The seller of the hedge must pay out as provided for in the contract if 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 instrument referenced in the contract undergoes a credit event, and the seller may have to make payment to the purchaser of the hedge for up to the notional amount of the credit derivative. ITAÚ UNIBANCO HOLDING CONSOLIDATED 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 a 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. The total value of margins pledged in guarantee by ITAÚ UNIBANCO HOLDING CONSOLIDATED was R$ 12,061,955 (R$ 7,846,393 at 09/30/2018) and was basically comprised of government securities. Further information on internal controls and parameters used to manage risks may be found in Note 18 - Risk, Capital Management and Fixed Asset Limits. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 73

I - Derivatives Summary See below the composition of the Derivative Financial Instruments portfolio (assets and liabilities) by type of instrument, stated at cost, market value, and maturity date. 09/30/2019 09/30/2018 Adjustments to market value (in Cost Market value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Over 720 days Market value results / stockholders' equity) Asset Swaps – adjustment receivable 8,431,577 19,987,995 28,419,572 69.5 96,227 320,656 1,761,069 1,697,481 4,618,789 19,925,350 11,276,141 Option agreements 4,886,296 478,206 5,364,502 13.2 789,986 1,083,316 2,041,076 567,950 456,293 425,881 5,523,945 Forwards (onshore) 2,181,005 (5,468) 2,175,537 5.3 1,361,872 484,696 121,279 202,829 4,861 - 6,073,179 Credit derivatives - financial Institutions 44,047 131,932 175,979 0.4 - 2,176 2,678 5,756 7,725 157,644 189,717 NDF - Non Deliverable Forward 4,178,367 233,881 4,412,248 10.8 1,429,140 850,241 968,636 751,312 268,218 144,701 4,492,446 Verification of swap - Companies 1,789 12,975 14,764 0.0 685 113 1,228 - 12,738 - 161,158 Other Derivative Financial Instruments 254,871 56,526 311,397 0.8 76,894 1,815 2,346 10,153 8,967 211,222 924,983 Total 19,977,952 20,896,047 40,873,999 100.0 3,754,804 2,743,013 4,898,312 3,235,481 5,377,591 20,864,798 28,641,569 % per maturity date 9.2 6.7 12.0 7.9 13.2 51.0 Total - 09/30/2018 17,999,214 10,642,355 28,641,569 100.0 7,416,859 2,798,185 3,558,953 3,159,640 3,026,577 8,681,355 % per maturity date 25.9 9.8 12.4 11.0 10.6 30.3 09/30/2019 09/30/2018 Adjustments to market value (in Cost Market value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Over 720 days Market value results / stockholders' equity) Liabilities Swaps – adjustment payable (13,886,246) ( 21,466,041) ( 35,352,287) 74.5 ( 449,898) (649,121) ( 2,764,691) ( 2,680,654) (8,377,614) (20,430,309) (16,651,985) Option agreements (6,185,937) ( 284,593) ( 6,470,530) 13.6 (666,286) (2,508,150) (1,936,299) ( 663,992) ( 430,014) (265,789) ( 4,926,607) Forwards (onshore) ( 850,054) ( 238) (850,292) 1.8 (846,952) - - (3,340) - - (4,556,195) Credit derivatives - financial Institutions (79,815) 24,061 ( 55,754) 0.1 - ( 383) ( 59) (1,572) ( 188) ( 53,552) ( 149,716) NDF - Non Deliverable Forward ( 4,235,031) ( 62,174) (4,297,205) 9.1 (1,244,140) ( 826,001) ( 958,046) ( 615,530) (506,712) ( 146,776) ( 5,267,011) Verification of swap - Companies (159,102) (172,620) ( 331,722) 0.7 (865) ( 215) ( 1,740) - (9,601) ( 319,301) (178,074) Other Derivative Financial Instruments ( 22,716) (60,081) (82,797) 0.2 ( 351) ( 4,768) (2,760) ( 10,581) ( 9,462) (54,875) (97,582) Total (25,418,901) (22,021,686) (47,440,587) 100.0 (3,208,492) (3,988,638) (5,663,595) (3,975,669) (9,333,591) ( 21,270,602) (31,827,170) % per maturity date 6.8 8.4 11.9 8.4 19.7 44.8 Total - 09/30/2018 (23,309,186) (8,517,984) (31,827,170) 100.0 (7,017,117) (2,669,432) (4,815,667) (3,423,863) (5,686,177) ( 8,214,914) % per maturity date 22.0 8.4 15.1 10.8 17.9 25.8 The result of derivative financial instruments in the period totals R$ (992,806) (R$ (785,164) at 09/30/2018). In ITAÚ UNIBANCO HOLDING, market values related to Swaps contract positions in asset and liability, with no amount as of that date (R$ 2,691,687 in asset position distributed with maturity over 365 days, R$ 2,019,801 Foreign Currency and R$ 671,886 Interest and R$ (1,583,277) in liability position distributed, R$ (927) Foreign Currency and R$ (1,582,350) Interest, with maturity over 365 days and from 31 to 90 days, respectively, at 09/30/2018). Option agreements involved Securities in asset position totaled R$ 35,265 (R$ 75,388 at 09/30/2018), with maturity over 365 days. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 74 I - Derivatives Summary See below the composition of the Derivative Financial Instruments portfolio (assets and liabilities) by type of instrument, stated at cost, market value, and maturity date. 09/30/2019 09/30/2018 Adjustments to market value (in Cost Market value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Over 720 days Market value results / stockholders' equity) Asset Swaps – adjustment receivable 8,431,577 19,987,995 28,419,572 69.5 96,227 320,656 1,761,069 1,697,481 4,618,789 19,925,350 11,276,141 Option agreements 4,886,296 478,206 5,364,502 13.2 789,986 1,083,316 2,041,076 567,950 456,293 425,881 5,523,945 Forwards (onshore) 2,181,005 (5,468) 2,175,537 5.3 1,361,872 484,696 121,279 202,829 4,861 - 6,073,179 Credit derivatives - financial Institutions 44,047 131,932 175,979 0.4 - 2,176 2,678 5,756 7,725 157,644 189,717 NDF - Non Deliverable Forward 4,178,367 233,881 4,412,248 10.8 1,429,140 850,241 968,636 751,312 268,218 144,701 4,492,446 Verification of swap - Companies 1,789 12,975 14,764 0.0 685 113 1,228 - 12,738 - 161,158 Other Derivative Financial Instruments 254,871 56,526 311,397 0.8 76,894 1,815 2,346 10,153 8,967 211,222 924,983 Total 19,977,952 20,896,047 40,873,999 100.0 3,754,804 2,743,013 4,898,312 3,235,481 5,377,591 20,864,798 28,641,569 % per maturity date 9.2 6.7 12.0 7.9 13.2 51.0 Total - 09/30/2018 17,999,214 10,642,355 28,641,569 100.0 7,416,859 2,798,185 3,558,953 3,159,640 3,026,577 8,681,355 % per maturity date 25.9 9.8 12.4 11.0 10.6 30.3 09/30/2019 09/30/2018 Adjustments to market value (in Cost Market value % 0 - 30 31 - 90 91 - 180 181 - 365 366 - 720 Over 720 days Market value results / stockholders' equity) Liabilities Swaps – adjustment payable (13,886,246) ( 21,466,041) ( 35,352,287) 74.5 ( 449,898) (649,121) ( 2,764,691) ( 2,680,654) (8,377,614) (20,430,309) (16,651,985) Option agreements (6,185,937) ( 284,593) ( 6,470,530) 13.6 (666,286) (2,508,150) (1,936,299) ( 663,992) ( 430,014) (265,789) ( 4,926,607) Forwards (onshore) ( 850,054) ( 238) (850,292) 1.8 (846,952) - - (3,340) - - (4,556,195) Credit derivatives - financial Institutions (79,815) 24,061 ( 55,754) 0.1 - ( 383) ( 59) (1,572) ( 188) ( 53,552) ( 149,716) NDF - Non Deliverable Forward ( 4,235,031) ( 62,174) (4,297,205) 9.1 (1,244,140) ( 826,001) ( 958,046) ( 615,530) (506,712) ( 146,776) ( 5,267,011) Verification of swap - Companies (159,102) (172,620) ( 331,722) 0.7 (865) ( 215) ( 1,740) - (9,601) ( 319,301) (178,074) Other Derivative Financial Instruments ( 22,716) (60,081) (82,797) 0.2 ( 351) ( 4,768) (2,760) ( 10,581) ( 9,462) (54,875) (97,582) Total (25,418,901) (22,021,686) (47,440,587) 100.0 (3,208,492) (3,988,638) (5,663,595) (3,975,669) (9,333,591) ( 21,270,602) (31,827,170) % per maturity date 6.8 8.4 11.9 8.4 19.7 44.8 Total - 09/30/2018 (23,309,186) (8,517,984) (31,827,170) 100.0 (7,017,117) (2,669,432) (4,815,667) (3,423,863) (5,686,177) ( 8,214,914) % per maturity date 22.0 8.4 15.1 10.8 17.9 25.8 The result of derivative financial instruments in the period totals R$ (992,806) (R$ (785,164) at 09/30/2018). In ITAÚ UNIBANCO HOLDING, market values related to Swaps contract positions in asset and liability, with no amount as of that date (R$ 2,691,687 in asset position distributed with maturity over 365 days, R$ 2,019,801 Foreign Currency and R$ 671,886 Interest and R$ (1,583,277) in liability position distributed, R$ (927) Foreign Currency and R$ (1,582,350) Interest, with maturity over 365 days and from 31 to 90 days, respectively, at 09/30/2018). Option agreements involved Securities in asset position totaled R$ 35,265 (R$ 75,388 at 09/30/2018), with maturity over 365 days. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 74

II - Derivatives by index and Risk Fator Balance sheet Adjustment to market Memorandum account / account receivable / value (in results / Market value Notional amount (received) (payable) stockholders' equity) / paid 09/30/2019 09/30/2018 09/30/2019 09/30/2019 09/30/2019 09/30/2018 Futures contracts 584,810,524 640,439,448 - - - - Purchase commitments 232,891,622 390,347,087 - - - - Shares 919,236 13,613,970 - - - - Commodities 415,808 301,900 - - - - Interest 197,145,841 344,879,454 - - - - Foreign currency 34,410,737 31,551,763 - - - - Commitments to sell 351,918,902 250,092,361 - - - - Shares 196,073 17,088,210 - - - - Commodities 590,728 214,550 - - - - Interest 320,852,885 201,025,966 - - - - Foreign currency 30,279,216 31,763,635 - - - - Swap contracts ( 5,454,669) (1,478,046) (6,932,715) ( 5,375,844) Asset position 1,046,539,147 994,782,356 8,431,577 19,987,995 28,419,572 11,276,141 Shares - 174,327 - - - - Commodities 58,693 12,410 1,042 1,006 2,048 57 Interest 1,028,113,202 982,256,483 7,152,248 18,759,261 25,911,509 9,817,417 Foreign currency 18,367,252 12,339,136 1,278,287 1,227,728 2,506,015 1,458,667 Liability position 1,046,539,147 994,782,356 ( 13,886,246) ( 21,466,041) (35,352,287) (16,651,985) Shares 69,011 915,782 - ( 7,221) (7,221) ( 10,117) Commodities - - (8) 8 - - Interest 1,020,315,562 967,564,085 (13,750,555) ( 19,255,928) (33,006,483) ( 13,557,123) Foreign currency 26,154,574 26,302,489 ( 135,683) (2,202,900) ( 2,338,583) (3,084,745) Option contracts 1,453,288,410 1,999,794,762 ( 1,299,641) 193,613 ( 1,106,028) 597,338 Purchase commitments - long position 144,214,703 341,982,821 3,109,582 295,058 3,404,640 4,007,040 Shares 13,565,818 9,899,852 288,119 288,285 576,404 903,967 Commodities 357,277 436,379 8,888 ( 334) 8,554 14,795 Interest 87,544,094 279,214,706 348,198 (232,258) 115,940 240,585 Foreign currency 42,747,514 52,431,884 2,464,377 239,365 2,703,742 2,847,693 Commitments to sell - long position 564,073,314 684,129,242 1,776,714 183,148 1,959,862 1,516,905 Shares 15,122,994 11,823,765 388,684 134,136 522,820 521,691 Commodities 224,595 552,229 8,009 (3,394) 4,615 8,964 Interest 486,817,785 633,443,809 474,770 827,285 1,302,055 561,774 Foreign currency 61,907,940 38,309,439 905,251 ( 774,879) 130,372 424,476 Purchase commitments - short position 133,810,032 220,877,148 (4,385,233) 119,237 ( 4,265,996) ( 3,216,147) Shares 13,664,078 11,135,259 (235,742) (267,469) ( 503,211) (619,167) Commodities 484,938 601,962 (12,272) 4,671 ( 7,601) (25,933) Interest 81,537,759 154,470,813 (328,596) 315,406 ( 13,190) ( 101,321) Foreign currency 38,123,257 54,669,114 (3,808,623) 66,629 (3,741,994) ( 2,469,726) Commitments to sell - short position 611,190,361 752,805,551 ( 1,800,704) ( 403,830) (2,204,534) (1,710,460) Shares 11,493,386 9,643,643 ( 247,748) ( 158,382) ( 406,130) (377,229) Commodities 337,763 395,094 (11,705) 1,605 ( 10,100) (6,461) Interest 533,932,869 701,867,012 (391,384) (850,139) (1,241,523) (762,440) Foreign currency 65,426,343 40,899,802 (1,149,867) 603,086 (546,781) ( 564,330) Forward operations (onshore) 2,193,994 14,717,389 1,330,951 ( 5,706) 1,325,245 1,516,984 Purchases receivable 811,377 2,078,763 811,377 ( 8,576) 802,801 2,075,612 Shares 313,109 11,537 313,109 ( 8,687) 304,422 11,239 Interest 498,268 2,067,226 498,268 111 498,379 2,064,373 Purchases payable obligations - - (498,268) 1 (498,267) (2,035,393) Shares - - - - - ( 766) Interest - - (498,268) 1 ( 498,267) ( 2,034,627) Sales receivable obligations 1,030,831 7,141,859 1,369,628 3,108 1,372,736 3,997,567 Shares 1,030,831 1,522,833 1,019,229 3,108 1,022,337 1,504,921 Interest - - 350,399 - 350,399 2,492,582 Foreign currency - 5,619,026 - - - 64 Sales deliverable 351,786 5,496,767 ( 351,786) (239) ( 352,025) (2,520,802) Shares 1,387 777 (1,387) ( 110) ( 1,497) (776) Interest 350,399 2,493,803 ( 350,399) ( 129) (350,528) (2,520,025) Foreign currency - 3,002,187 - - - (1) Credit derivatives 13,532,287 8,922,028 ( 35,768) 155,993 120,225 40,001 Asset position 10,425,936 4,614,043 44,047 131,932 175,979 189,717 Shares 2,205,893 1,824,726 50,255 79,063 129,318 112,106 Commodities 28,068 - 502 1,074 1,576 - Interest 8,191,975 2,649,180 (6,710) 51,795 45,085 71,753 Foreign currency - 140,137 - - - 5,858 Liability position 3,106,351 4,307,985 ( 79,815) 24,061 ( 55,754) (149,716) Shares 1,179,358 1,286,041 ( 49,514) 14,828 ( 34,686) ( 71,757) Commodities 2,082 - ( 143) 22 (121) - Interest 1,924,911 3,021,944 ( 30,158) 9,211 (20,947) ( 77,959) NDF - Non Deliverable Forward 291,848,925 249,004,897 ( 56,664) 171,707 115,043 (774,565) Asset position 149,355,503 121,341,367 4,178,367 233,881 4,412,248 4,492,446 Commodities 152,620 148,028 12,238 481 12,719 16,542 Foreign currency 149,202,883 121,193,339 4,166,129 233,400 4,399,529 4,475,904 Liability position 142,493,422 127,663,530 ( 4,235,031) (62,174) ( 4,297,205) (5,267,011) Commodities 421,222 118,108 (33,777) 1,126 ( 32,651) (14,611) Foreign currency 142,072,200 127,545,422 (4,201,254) ( 63,300) (4,264,554) ( 5,252,400) Verification of swap - Companies 1,268,140 2,768,509 ( 157,313) (159,645) ( 316,958) (16,916) Asset position 110,000 254,057 1,789 12,975 14,764 161,158 Interest - 10,000 - - - 127,741 Foreign currency 110,000 244,057 1,789 12,975 14,764 33,417 Liability position 1,158,140 2,514,452 ( 159,102) (172,620) ( 331,722) (178,074) Interest - 1,313,282 - - - ( 34,727) Foreign currency 1,158,140 1,201,170 (159,102) (172,620) ( 331,722) (143,347) Other derivative financial instruments 7,159,793 5,511,241 232,155 (3,555) 228,600 827,401 Asset position 5,820,823 4,120,092 254,871 56,526 311,397 924,983 Shares 186,816 371,155 1,121 3,507 4,628 31,041 Interest 5,631,009 3,717,506 254,153 ( 25,123) 229,030 284,782 Foreign currency 2,998 31,431 (403) 78,142 77,739 609,160 Liability position 1,338,970 1,391,149 ( 22,716) (60,081) ( 82,797) (97,582) Shares 929,731 1,200,372 ( 12,242) ( 45,686) ( 57,928) (63,814) Interest 409,239 91,663 ( 10,474) (7,651) (18,125) ( 7,315) Foreign currency - 99,114 - (6,744) ( 6,744) ( 26,453) Asset 19,977,952 20,896,047 40,873,999 28,641,569 Liability (25,418,901) (22,021,686) (47,440,587) (31,827,170) Total (5,440,949) (1,125,639) (6,566,588) ( 3,185,601) Derivatives contracts mature as follows (in days) Memorandum account / notional amount 0 - 30 31 - 180 181 - 365 Over 365 days 09/30/2019 09/30/2018 Futures contracts 130,571,419 298,465,801 56,865,382 98,907,922 584,810,524 640,439,448 Swaps contracts 25,595,627 175,884,945 105,994,414 739,064,161 1,046,539,147 994,782,356 Option contracts 307,117,451 991,493,501 49,087,240 105,590,218 1,453,288,410 1,999,794,762 Forwards (onshore) 1,363,863 613,678 211,191 5,262 2,193,994 14,717,389 Credit derivatives - 4,334,659 1,101,817 8,095,811 13,532,287 8,922,028 NDF - Non Deliverable Forward 117,780,686 110,845,459 40,700,107 22,522,673 291,848,925 249,004,897 Verification of swap - Companies 14,682 42,459 - 1,210,999 1,268,140 2,768,509 Other derivative financial instruments 3,809 926,357 409,084 5,820,543 7,159,793 5,511,241 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 75 II - Derivatives by index and Risk Fator Balance sheet Adjustment to market Memorandum account / account receivable / value (in results / Market value Notional amount (received) (payable) stockholders' equity) / paid 09/30/2019 09/30/2018 09/30/2019 09/30/2019 09/30/2019 09/30/2018 Futures contracts 584,810,524 640,439,448 - - - - Purchase commitments 232,891,622 390,347,087 - - - - Shares 919,236 13,613,970 - - - - Commodities 415,808 301,900 - - - - Interest 197,145,841 344,879,454 - - - - Foreign currency 34,410,737 31,551,763 - - - - Commitments to sell 351,918,902 250,092,361 - - - - Shares 196,073 17,088,210 - - - - Commodities 590,728 214,550 - - - - Interest 320,852,885 201,025,966 - - - - Foreign currency 30,279,216 31,763,635 - - - - Swap contracts ( 5,454,669) (1,478,046) (6,932,715) ( 5,375,844) Asset position 1,046,539,147 994,782,356 8,431,577 19,987,995 28,419,572 11,276,141 Shares - 174,327 - - - - Commodities 58,693 12,410 1,042 1,006 2,048 57 Interest 1,028,113,202 982,256,483 7,152,248 18,759,261 25,911,509 9,817,417 Foreign currency 18,367,252 12,339,136 1,278,287 1,227,728 2,506,015 1,458,667 Liability position 1,046,539,147 994,782,356 ( 13,886,246) ( 21,466,041) (35,352,287) (16,651,985) Shares 69,011 915,782 - ( 7,221) (7,221) ( 10,117) Commodities - - (8) 8 - - Interest 1,020,315,562 967,564,085 (13,750,555) ( 19,255,928) (33,006,483) ( 13,557,123) Foreign currency 26,154,574 26,302,489 ( 135,683) (2,202,900) ( 2,338,583) (3,084,745) Option contracts 1,453,288,410 1,999,794,762 ( 1,299,641) 193,613 ( 1,106,028) 597,338 Purchase commitments - long position 144,214,703 341,982,821 3,109,582 295,058 3,404,640 4,007,040 Shares 13,565,818 9,899,852 288,119 288,285 576,404 903,967 Commodities 357,277 436,379 8,888 ( 334) 8,554 14,795 Interest 87,544,094 279,214,706 348,198 (232,258) 115,940 240,585 Foreign currency 42,747,514 52,431,884 2,464,377 239,365 2,703,742 2,847,693 Commitments to sell - long position 564,073,314 684,129,242 1,776,714 183,148 1,959,862 1,516,905 Shares 15,122,994 11,823,765 388,684 134,136 522,820 521,691 Commodities 224,595 552,229 8,009 (3,394) 4,615 8,964 Interest 486,817,785 633,443,809 474,770 827,285 1,302,055 561,774 Foreign currency 61,907,940 38,309,439 905,251 ( 774,879) 130,372 424,476 Purchase commitments - short position 133,810,032 220,877,148 (4,385,233) 119,237 ( 4,265,996) ( 3,216,147) Shares 13,664,078 11,135,259 (235,742) (267,469) ( 503,211) (619,167) Commodities 484,938 601,962 (12,272) 4,671 ( 7,601) (25,933) Interest 81,537,759 154,470,813 (328,596) 315,406 ( 13,190) ( 101,321) Foreign currency 38,123,257 54,669,114 (3,808,623) 66,629 (3,741,994) ( 2,469,726) Commitments to sell - short position 611,190,361 752,805,551 ( 1,800,704) ( 403,830) (2,204,534) (1,710,460) Shares 11,493,386 9,643,643 ( 247,748) ( 158,382) ( 406,130) (377,229) Commodities 337,763 395,094 (11,705) 1,605 ( 10,100) (6,461) Interest 533,932,869 701,867,012 (391,384) (850,139) (1,241,523) (762,440) Foreign currency 65,426,343 40,899,802 (1,149,867) 603,086 (546,781) ( 564,330) Forward operations (onshore) 2,193,994 14,717,389 1,330,951 ( 5,706) 1,325,245 1,516,984 Purchases receivable 811,377 2,078,763 811,377 ( 8,576) 802,801 2,075,612 Shares 313,109 11,537 313,109 ( 8,687) 304,422 11,239 Interest 498,268 2,067,226 498,268 111 498,379 2,064,373 Purchases payable obligations - - (498,268) 1 (498,267) (2,035,393) Shares - - - - - ( 766) Interest - - (498,268) 1 ( 498,267) ( 2,034,627) Sales receivable obligations 1,030,831 7,141,859 1,369,628 3,108 1,372,736 3,997,567 Shares 1,030,831 1,522,833 1,019,229 3,108 1,022,337 1,504,921 Interest - - 350,399 - 350,399 2,492,582 Foreign currency - 5,619,026 - - - 64 Sales deliverable 351,786 5,496,767 ( 351,786) (239) ( 352,025) (2,520,802) Shares 1,387 777 (1,387) ( 110) ( 1,497) (776) Interest 350,399 2,493,803 ( 350,399) ( 129) (350,528) (2,520,025) Foreign currency - 3,002,187 - - - (1) Credit derivatives 13,532,287 8,922,028 ( 35,768) 155,993 120,225 40,001 Asset position 10,425,936 4,614,043 44,047 131,932 175,979 189,717 Shares 2,205,893 1,824,726 50,255 79,063 129,318 112,106 Commodities 28,068 - 502 1,074 1,576 - Interest 8,191,975 2,649,180 (6,710) 51,795 45,085 71,753 Foreign currency - 140,137 - - - 5,858 Liability position 3,106,351 4,307,985 ( 79,815) 24,061 ( 55,754) (149,716) Shares 1,179,358 1,286,041 ( 49,514) 14,828 ( 34,686) ( 71,757) Commodities 2,082 - ( 143) 22 (121) - Interest 1,924,911 3,021,944 ( 30,158) 9,211 (20,947) ( 77,959) NDF - Non Deliverable Forward 291,848,925 249,004,897 ( 56,664) 171,707 115,043 (774,565) Asset position 149,355,503 121,341,367 4,178,367 233,881 4,412,248 4,492,446 Commodities 152,620 148,028 12,238 481 12,719 16,542 Foreign currency 149,202,883 121,193,339 4,166,129 233,400 4,399,529 4,475,904 Liability position 142,493,422 127,663,530 ( 4,235,031) (62,174) ( 4,297,205) (5,267,011) Commodities 421,222 118,108 (33,777) 1,126 ( 32,651) (14,611) Foreign currency 142,072,200 127,545,422 (4,201,254) ( 63,300) (4,264,554) ( 5,252,400) Verification of swap - Companies 1,268,140 2,768,509 ( 157,313) (159,645) ( 316,958) (16,916) Asset position 110,000 254,057 1,789 12,975 14,764 161,158 Interest - 10,000 - - - 127,741 Foreign currency 110,000 244,057 1,789 12,975 14,764 33,417 Liability position 1,158,140 2,514,452 ( 159,102) (172,620) ( 331,722) (178,074) Interest - 1,313,282 - - - ( 34,727) Foreign currency 1,158,140 1,201,170 (159,102) (172,620) ( 331,722) (143,347) Other derivative financial instruments 7,159,793 5,511,241 232,155 (3,555) 228,600 827,401 Asset position 5,820,823 4,120,092 254,871 56,526 311,397 924,983 Shares 186,816 371,155 1,121 3,507 4,628 31,041 Interest 5,631,009 3,717,506 254,153 ( 25,123) 229,030 284,782 Foreign currency 2,998 31,431 (403) 78,142 77,739 609,160 Liability position 1,338,970 1,391,149 ( 22,716) (60,081) ( 82,797) (97,582) Shares 929,731 1,200,372 ( 12,242) ( 45,686) ( 57,928) (63,814) Interest 409,239 91,663 ( 10,474) (7,651) (18,125) ( 7,315) Foreign currency - 99,114 - (6,744) ( 6,744) ( 26,453) Asset 19,977,952 20,896,047 40,873,999 28,641,569 Liability (25,418,901) (22,021,686) (47,440,587) (31,827,170) Total (5,440,949) (1,125,639) (6,566,588) ( 3,185,601) Derivatives contracts mature as follows (in days) Memorandum account / notional amount 0 - 30 31 - 180 181 - 365 Over 365 days 09/30/2019 09/30/2018 Futures contracts 130,571,419 298,465,801 56,865,382 98,907,922 584,810,524 640,439,448 Swaps contracts 25,595,627 175,884,945 105,994,414 739,064,161 1,046,539,147 994,782,356 Option contracts 307,117,451 991,493,501 49,087,240 105,590,218 1,453,288,410 1,999,794,762 Forwards (onshore) 1,363,863 613,678 211,191 5,262 2,193,994 14,717,389 Credit derivatives - 4,334,659 1,101,817 8,095,811 13,532,287 8,922,028 NDF - Non Deliverable Forward 117,780,686 110,845,459 40,700,107 22,522,673 291,848,925 249,004,897 Verification of swap - Companies 14,682 42,459 - 1,210,999 1,268,140 2,768,509 Other derivative financial instruments 3,809 926,357 409,084 5,820,543 7,159,793 5,511,241 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 75

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. 09/30/2019 Other NDF - Non Verification of Futures Swaps Forwards Credit derivative Option contracts Deliverable swap - contracts contracts (onshore) derivatives financial Forward Companies instruments B3 360,670,295 17,958,794 1,234,626,006 1,343,941 - 55,183,427 - - Over-the-counter market 224,140,229 1,028,580,353 218,662,404 850,053 13,532,287 236,665,498 1,268,140 7,159,793 Financial institutions 223,103,880 809,599,987 184,011,985 129,049 13,531,454 122,108,923 - 5,436,799 Companies 1,036,349 174,972,891 34,190,883 721,004 833 113,132,938 1,268,140 1,722,994 Individuals - 44,007,475 459,536 - - 1,423,637 - - Total 584,810,524 1,046,539,147 1,453,288,410 2,193,994 13,532,287 291,848,925 1,268,140 7,159,793 Total – 09/30/2018 640,439,448 994,782,356 1,999,794,762 14,717,389 8,922,028 249,004,897 2,768,509 5,511,241 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 76 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. 09/30/2019 Other NDF - Non Verification of Futures Swaps Forwards Credit derivative Option contracts Deliverable swap - contracts contracts (onshore) derivatives financial Forward Companies instruments B3 360,670,295 17,958,794 1,234,626,006 1,343,941 - 55,183,427 - - Over-the-counter market 224,140,229 1,028,580,353 218,662,404 850,053 13,532,287 236,665,498 1,268,140 7,159,793 Financial institutions 223,103,880 809,599,987 184,011,985 129,049 13,531,454 122,108,923 - 5,436,799 Companies 1,036,349 174,972,891 34,190,883 721,004 833 113,132,938 1,268,140 1,722,994 Individuals - 44,007,475 459,536 - - 1,423,637 - - Total 584,810,524 1,046,539,147 1,453,288,410 2,193,994 13,532,287 291,848,925 1,268,140 7,159,793 Total – 09/30/2018 640,439,448 994,782,356 1,999,794,762 14,717,389 8,922,028 249,004,897 2,768,509 5,511,241 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 76

IV - Credit derivatives See below the composition of the Credit Derivatives (assets and liabilities) portfolio stated at their notional amounts, and their effect on the calculation of Required Reference Equity. 09/30/2019 09/30/2018 Notional amount Notional amount of credit Notional amount of Notional amount of credit of credit protection purchased with Net position credit protection protection purchased with Net position protection sold identical underlying amount sold identical underlying amount CDS (7,399,670) 2,847,617 (4,552,053) (7,092,846) 1,829,182 (5,263,664) TRS (3,285,000) - (3,285,000) - - - Total (10,684,670) 2,847,617 (7,837,053) (7,092,846) 1,829,182 (5,263,664) The effect of the risk received on the reference equity (Note 18c) was R$ 59,370 (R$ 46,092 at 09/30/2018). During the period, there were no credit events relating to the taxable events provided for in the agreements. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 77 IV - Credit derivatives See below the composition of the Credit Derivatives (assets and liabilities) portfolio stated at their notional amounts, and their effect on the calculation of Required Reference Equity. 09/30/2019 09/30/2018 Notional amount Notional amount of credit Notional amount of Notional amount of credit of credit protection purchased with Net position credit protection protection purchased with Net position protection sold identical underlying amount sold identical underlying amount CDS (7,399,670) 2,847,617 (4,552,053) (7,092,846) 1,829,182 (5,263,664) TRS (3,285,000) - (3,285,000) - - - Total (10,684,670) 2,847,617 (7,837,053) (7,092,846) 1,829,182 (5,263,664) The effect of the risk received on the reference equity (Note 18c) was R$ 59,370 (R$ 46,092 at 09/30/2018). During the period, there were no credit events relating to the taxable events provided for in the agreements. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 77

V - Hedge accounting I) Cash flow - the purpose of this hedge of ITAÚ UNIBANCO HOLDING CONSOLIDATED is to hedge cash flows of interest receipt and payment (CDB / Syndicated Loans / Assets Transactions / Funding and agreements to resell) and exposures to future exchange rate (anticipated transactions and unrecognized firm commitments) related to its variable interest rate risk (CDI / LIBOR/UF*/TPM*/Selic), and foreign exchange rate risk, making the cash flow constant (fixed rate) and regardless of the variations of DI CETIP Over, LIBOR/ UF*/ TPM* / Selic and foreign exchange rate. *UF (Chilean Unit of Account) / TPM (Monetary Policy Rate). 09/30/2019 Hedge Item Hedge Instruments Variation in the Book value Strategies Variation in the amounts Cash flow hedge amounts used to recognized in Notional amount reserve calculate hedge Stockholders’ Equity (*) Assets Liabilities ineffectiveness Interest rate risk Hedge of deposits and securities purchased under agreements to resell - 24,784,984 (2,923,299) (3,706,146) 25,746,394 (2,924,771) Hedge of assets transactions 1,643,670 - 133,889 133,889 1,778,219 134,096 Hedge of asset-backed securities under repurchase agreements 13,722,538 - 568,486 568,486 14,883,748 568,486 Hedge of UF - denominated assets 9,271,197 - (17,733) (17,733) 9,288,930 (18,258) Hedge of funding - 4,336,555 (42,547) (37,362) 4,294,008 (42,547) Hedge of loan operations 288,622 - 14,350 14,350 274,272 16,325 Variable costs risks Hedge of highly probable forecast transactions 20,734,869 - (64,795) (64,795) 20,735,478 (64,795) Foreign exchange risk Hedge of highly probable forecast transactions 5,881,704 - 72,676 104,193 5,881,704 72,676 Total 51,542,600 29,121,539 (2,258,973) (3,005,118) 82,882,753 (2,258,788) 09/30/2018 Hedge Item Hedge Instruments Variation in the Book value Strategies Variation in the amounts Cash flow hedge amounts used to recognized in Notional amount reserve calculate hedge Stockholders’ Equity (*) Assets Liabilities ineffectiveness Interest rate risk Hedge of deposits and securities purchased under agreements to resell - 29,350,964 (821,007) (2,444,997) 30,230,484 (821,336) Hedge of assets transactions 7,629,121 - 160,387 160,387 7,789,604 160,388 Hedge of asset-backed securities under repurchase agreements 36,209,216 - (5,243) (5,243) 36,960,604 (5,242) Hedge of UF - denominated assets 13,299,320 - (65,937) (65,937) 13,131,350 (71,734) Hedge of funding - 3,317,291 (2,726) (2,726) 3,326,655 (2,494) Hedge of loan operations 297,784 - 3,929 3,929 292,608 5,421 Foreign exchange risk Hedge of highly probable forecast transactions 13,165,090 - (25,504) (25,504) 13,193,297 (25,504) Total 70,600,531 32,668,255 (756,101) (2,380,091) 104,924,602 (760,501) (*) Recorded under heading Equit Valuation Adjustments. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 78 V - Hedge accounting I) Cash flow - the purpose of this hedge of ITAÚ UNIBANCO HOLDING CONSOLIDATED is to hedge cash flows of interest receipt and payment (CDB / Syndicated Loans / Assets Transactions / Funding and agreements to resell) and exposures to future exchange rate (anticipated transactions and unrecognized firm commitments) related to its variable interest rate risk (CDI / LIBOR/UF*/TPM*/Selic), and foreign exchange rate risk, making the cash flow constant (fixed rate) and regardless of the variations of DI CETIP Over, LIBOR/ UF*/ TPM* / Selic and foreign exchange rate. *UF (Chilean Unit of Account) / TPM (Monetary Policy Rate). 09/30/2019 Hedge Item Hedge Instruments Variation in the Book value Strategies Variation in the amounts Cash flow hedge amounts used to recognized in Notional amount reserve calculate hedge Stockholders’ Equity (*) Assets Liabilities ineffectiveness Interest rate risk Hedge of deposits and securities purchased under agreements to resell - 24,784,984 (2,923,299) (3,706,146) 25,746,394 (2,924,771) Hedge of assets transactions 1,643,670 - 133,889 133,889 1,778,219 134,096 Hedge of asset-backed securities under repurchase agreements 13,722,538 - 568,486 568,486 14,883,748 568,486 Hedge of UF - denominated assets 9,271,197 - (17,733) (17,733) 9,288,930 (18,258) Hedge of funding - 4,336,555 (42,547) (37,362) 4,294,008 (42,547) Hedge of loan operations 288,622 - 14,350 14,350 274,272 16,325 Variable costs risks Hedge of highly probable forecast transactions 20,734,869 - (64,795) (64,795) 20,735,478 (64,795) Foreign exchange risk Hedge of highly probable forecast transactions 5,881,704 - 72,676 104,193 5,881,704 72,676 Total 51,542,600 29,121,539 (2,258,973) (3,005,118) 82,882,753 (2,258,788) 09/30/2018 Hedge Item Hedge Instruments Variation in the Book value Strategies Variation in the amounts Cash flow hedge amounts used to recognized in Notional amount reserve calculate hedge Stockholders’ Equity (*) Assets Liabilities ineffectiveness Interest rate risk Hedge of deposits and securities purchased under agreements to resell - 29,350,964 (821,007) (2,444,997) 30,230,484 (821,336) Hedge of assets transactions 7,629,121 - 160,387 160,387 7,789,604 160,388 Hedge of asset-backed securities under repurchase agreements 36,209,216 - (5,243) (5,243) 36,960,604 (5,242) Hedge of UF - denominated assets 13,299,320 - (65,937) (65,937) 13,131,350 (71,734) Hedge of funding - 3,317,291 (2,726) (2,726) 3,326,655 (2,494) Hedge of loan operations 297,784 - 3,929 3,929 292,608 5,421 Foreign exchange risk Hedge of highly probable forecast transactions 13,165,090 - (25,504) (25,504) 13,193,297 (25,504) Total 70,600,531 32,668,255 (756,101) (2,380,091) 104,924,602 (760,501) (*) Recorded under heading Equit Valuation Adjustments. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 78

09/30/2019 Hedge (1) Variation in the Variation in value Amount reclassified Book value ineffectiveness Hedge Instruments recognized in Notional amounts used to from Cash flow recognized in Stockholders’ amount calculate hedge hedge reserve into income (2) ineffectiveness income Assets Liabilities Equity (3) Interest rate risk Futures 42,408,361 - 1,507 (2,222,189) (2,220,924) (1,265) - Swap 13,857,210 4,336,555 9,561,269 (44,480) (45,930) 1,450 - (4) Foreign exchange risk DDI Future 26,617,182 - 5,864,203 7,881 7,881 - - Total 82,882,753 4,336,555 15,426,979 (2,258,788) (2,258,973) 185 - 09/30/2018 Hedge (1) Variation in value Variation in the Amount reclassified Book value ineffectiveness Hedge Instruments recognized in Notional amounts used to from Cash flow recognized in Stockholders’ amount calculate hedge hedge reserve into income (2) Assets Liabilities ineffectiveness Equity income (3) Interest rate risk Futures 74,980,692 56,966 31,708 (666,190) (665,862) (328) - Swap 16,750,613 3,320,286 13,575,735 (68,807) (64,734) (4,073) - (4) Foreign exchange risk DDI Future 13,193,297 25,504 - (25,504) (25,504) - - Total 104,924,602 3,402,756 13,607,443 (760,501) (756,100) (4,401) - (1) Recorded under heading Derivative financial instruments. (2) Recorded under heading Equity Valuation Adjustments. (3) DDI Future negotiated on B3 and interest rate swap negotiated on Chicago Mercantile Exchange. (4) DDI Futures contracts and Dollar Purchase Options negotiated on B3. The gains or losses related to the accounting hedge of cash flows that ITAÚ UNIBANCO HOLDING CONSOLIDATED expect to recognize in results in the following 12 months, totaling R$ (1,546,493) (R$ (1,697,969) at 09/30/2018). In the period ended 09/30/2019 was recognized amount of R$ (652,386) in result. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 79 09/30/2019 Hedge (1) Variation in the Variation in value Amount reclassified Book value ineffectiveness Hedge Instruments recognized in Notional amounts used to from Cash flow recognized in Stockholders’ amount calculate hedge hedge reserve into income (2) ineffectiveness income Assets Liabilities Equity (3) Interest rate risk Futures 42,408,361 - 1,507 (2,222,189) (2,220,924) (1,265) - Swap 13,857,210 4,336,555 9,561,269 (44,480) (45,930) 1,450 - (4) Foreign exchange risk DDI Future 26,617,182 - 5,864,203 7,881 7,881 - - Total 82,882,753 4,336,555 15,426,979 (2,258,788) (2,258,973) 185 - 09/30/2018 Hedge (1) Variation in value Variation in the Amount reclassified Book value ineffectiveness Hedge Instruments recognized in Notional amounts used to from Cash flow recognized in Stockholders’ amount calculate hedge hedge reserve into income (2) Assets Liabilities ineffectiveness Equity income (3) Interest rate risk Futures 74,980,692 56,966 31,708 (666,190) (665,862) (328) - Swap 16,750,613 3,320,286 13,575,735 (68,807) (64,734) (4,073) - (4) Foreign exchange risk DDI Future 13,193,297 25,504 - (25,504) (25,504) - - Total 104,924,602 3,402,756 13,607,443 (760,501) (756,100) (4,401) - (1) Recorded under heading Derivative financial instruments. (2) Recorded under heading Equity Valuation Adjustments. (3) DDI Future negotiated on B3 and interest rate swap negotiated on Chicago Mercantile Exchange. (4) DDI Futures contracts and Dollar Purchase Options negotiated on B3. The gains or losses related to the accounting hedge of cash flows that ITAÚ UNIBANCO HOLDING CONSOLIDATED expect to recognize in results in the following 12 months, totaling R$ (1,546,493) (R$ (1,697,969) at 09/30/2018). In the period ended 09/30/2019 was recognized amount of R$ (652,386) in result. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 79

II) Market risk – The hedging strategies against market risk of ITAÚ UNIBANCO HOLDING CONSOLIDATED consist of hedge of exposure to variation in market risk, in interest receipts, which are attributable to changes in interest rates relating to recognized assets and liabilities. 09/30/2019 Hedge Item Hedge Instruments Variation in the Book value Fair value adjustments Strategies Variation in value amounts recognized in Notional amount used to calculate income (*) hedge Assets Liabilities Assets Liabilities ineffectiveness Interest rate risk Hedge of loan operations 6,871,984 - 7,206,891 - 334,907 6,871,984 (340,532) Hedge of funding - 8,083,002 - 9,164,215 (1,081,213) 8,083,002 1,079,428 Hedge of available-for-sale securities 11,049,809 - 11,726,557 - 676,748 11,761,852 (673,181) Total 17,921,793 8,083,002 18,933,448 9,164,215 (69,558) 26,716,838 65,715 09/30/2018 Hedge Item Hedge Instruments Variation in the Book value Fair value adjustments Strategies Variation in value amounts recognized in Notional amount used to calculate income (*) hedge Assets Liabilities Assets Liabilities ineffectiveness Interest rate risk Hedge of loan operations 7,384,776 - 7,421,531 - 36,755 7,384,776 (37,640) Hedge of funding - 11,016,179 - 10,981,247 34,932 11,016,179 (37,935) Hedge of available-for-sale securities 4,746,609 - 4,690,093 - (56,516) 4,748,579 59,745 Total 12,131,385 11,016,179 12,111,624 10,981,247 15,171 23,149,534 (15,830) (*) Recorded under heading Results from Securities and Derivative Financial Instruments. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 80 II) Market risk – The hedging strategies against market risk of ITAÚ UNIBANCO HOLDING CONSOLIDATED consist of hedge of exposure to variation in market risk, in interest receipts, which are attributable to changes in interest rates relating to recognized assets and liabilities. 09/30/2019 Hedge Item Hedge Instruments Variation in the Book value Fair value adjustments Strategies Variation in value amounts recognized in Notional amount used to calculate income (*) hedge Assets Liabilities Assets Liabilities ineffectiveness Interest rate risk Hedge of loan operations 6,871,984 - 7,206,891 - 334,907 6,871,984 (340,532) Hedge of funding - 8,083,002 - 9,164,215 (1,081,213) 8,083,002 1,079,428 Hedge of available-for-sale securities 11,049,809 - 11,726,557 - 676,748 11,761,852 (673,181) Total 17,921,793 8,083,002 18,933,448 9,164,215 (69,558) 26,716,838 65,715 09/30/2018 Hedge Item Hedge Instruments Variation in the Book value Fair value adjustments Strategies Variation in value amounts recognized in Notional amount used to calculate income (*) hedge Assets Liabilities Assets Liabilities ineffectiveness Interest rate risk Hedge of loan operations 7,384,776 - 7,421,531 - 36,755 7,384,776 (37,640) Hedge of funding - 11,016,179 - 10,981,247 34,932 11,016,179 (37,935) Hedge of available-for-sale securities 4,746,609 - 4,690,093 - (56,516) 4,748,579 59,745 Total 12,131,385 11,016,179 12,111,624 10,981,247 15,171 23,149,534 (15,830) (*) Recorded under heading Results from Securities and Derivative Financial Instruments. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 80

09/30/2019 (1) Variation in the Hedge Book value Hedge Instruments amounts used to ineffectiveness Notional amount calculate hedge recognized in Assets Liabilities ineffectiveness income Interest rate risk Swap 15,301,448 1,049,640 494,153 621,419 (7,772) Other Derivatives 11,415,390 - 10,759,545 (555,704) 3,929 (2) 26,716,838 1,049,640 11,253,698 65,715 (3,843) Total 09/30/2018 (1) Variation in the Hedge Book value Hedge Instruments amounts used to ineffectiveness Notional amount calculate hedge recognized in Assets Liabilities ineffectiveness income Interest rate risk Swap 23,149,534 27,297 43,106 (15,830) (659) Total 23,149,534 27,297 43,106 (15,830) (659) (1) Recorded under heading Derivative financial instruments. (2) In the period, the amount of R$ 738,443 is no longer qualified as hedge, with effect on result of R$ (20,140). To protect against market risk variation upon receipt and payment of interest, ITAÚ UNIBANCO HOLDING CONSOLIDATED uses interest rate swap contracts. Hedge items refer to prefixed assets and liabilities denominated in Chilean Unit of Account – CLF, fixed rate and denominated in Euros and US dollars, issued by subsidiaries in Chile, London and Colombia, respectively. Receipts (payments) of interest flows are expected to occur and will affect the statement of income in monthly periods. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 81 09/30/2019 (1) Variation in the Hedge Book value Hedge Instruments amounts used to ineffectiveness Notional amount calculate hedge recognized in Assets Liabilities ineffectiveness income Interest rate risk Swap 15,301,448 1,049,640 494,153 621,419 (7,772) Other Derivatives 11,415,390 - 10,759,545 (555,704) 3,929 (2) 26,716,838 1,049,640 11,253,698 65,715 (3,843) Total 09/30/2018 (1) Variation in the Hedge Book value Hedge Instruments amounts used to ineffectiveness Notional amount calculate hedge recognized in Assets Liabilities ineffectiveness income Interest rate risk Swap 23,149,534 27,297 43,106 (15,830) (659) Total 23,149,534 27,297 43,106 (15,830) (659) (1) Recorded under heading Derivative financial instruments. (2) In the period, the amount of R$ 738,443 is no longer qualified as hedge, with effect on result of R$ (20,140). To protect against market risk variation upon receipt and payment of interest, ITAÚ UNIBANCO HOLDING CONSOLIDATED uses interest rate swap contracts. Hedge items refer to prefixed assets and liabilities denominated in Chilean Unit of Account – CLF, fixed rate and denominated in Euros and US dollars, issued by subsidiaries in Chile, London and Colombia, respectively. Receipts (payments) of interest flows are expected to occur and will affect the statement of income in monthly periods. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 81

III) Hedge of net investment in foreign operations – ITAÚ UNIBANCO HOLDING CONSOLIDATED's strategy of net investments in foreign operations consist of a hedge of the exposure in foreign currency arising from the functional currency of foreign operations, compared to the functional currency of the head office. 09/30/2019 Hedge item Hedge Instruments Variation in the Book value Variation in value Strategies amounts recognized in Foreign currency Notional amount used to calculate Stockholders’ convertion reserve hedge Equity (*) Assets Liabilities ineffectiveness Foreign exchange risk Hedge of net investment in foreign operations - 15,666,198 (6,330,454) (6,330,454) 13,392,702 (6,380,185) Total - 15,666,198 (6,330,454) (6,330,454) 13,392,702 (6,380,185) 09/30/2018 Hedge item Hedge Instruments Variation in the Book value Variation in value Strategies amounts recognized in Foreign currency Notional amount used to calculate Stockholders’ convertion reserve hedge Assets Liabilities Equity (*) ineffectiveness Foreign exchange risk Hedge of net investment in foreign operations - 15,576,952 (6,905,088) (6,905,088) 13,053,714 (6,939,462) Total - 15,576,952 (6,905,088) (6,905,088) 13,053,714 (6,939,462) (*) Recorded under heading Equity Valuation Adjustments. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 82 III) Hedge of net investment in foreign operations – ITAÚ UNIBANCO HOLDING CONSOLIDATED's strategy of net investments in foreign operations consist of a hedge of the exposure in foreign currency arising from the functional currency of foreign operations, compared to the functional currency of the head office. 09/30/2019 Hedge item Hedge Instruments Variation in the Book value Variation in value Strategies amounts recognized in Foreign currency Notional amount used to calculate Stockholders’ convertion reserve hedge Equity (*) Assets Liabilities ineffectiveness Foreign exchange risk Hedge of net investment in foreign operations - 15,666,198 (6,330,454) (6,330,454) 13,392,702 (6,380,185) Total - 15,666,198 (6,330,454) (6,330,454) 13,392,702 (6,380,185) 09/30/2018 Hedge item Hedge Instruments Variation in the Book value Variation in value Strategies amounts recognized in Foreign currency Notional amount used to calculate Stockholders’ convertion reserve hedge Assets Liabilities Equity (*) ineffectiveness Foreign exchange risk Hedge of net investment in foreign operations - 15,576,952 (6,905,088) (6,905,088) 13,053,714 (6,939,462) Total - 15,576,952 (6,905,088) (6,905,088) 13,053,714 (6,939,462) (*) Recorded under heading Equity Valuation Adjustments. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 82

09/30/2019 Variation in the Variation in the (1) Hedge Amount reclassified Book value amount amounts Hedge Instruments ineffectiveness from foreign recognized in Notional amount used to calculate recognized in currency Stockholders’ hedge income convertion reserve Assets Liabilities (2) ineffectiveness Equity (3) Interest rate risk DDI Future 30,081,960 54,557 - (10,207,958) (10,149,789) (58,169) - Forward (1,580,280) 599,878 - 367,397 361,461 5,936 - (14,150,350) 236,157 - 3,237,765 3,233,514 4,251 - NDF - Non Deliverable Forward (958,628) 958,628 - 222,611 224,360 (1,749) - Financial Assets 13,392,702 1,849,220 - (6,380,185) (6,330,454) (49,731) - Total 09/30/2018 Variation in the Variation in the (1) Hedge Amount reclassified Book value amount amounts Hedge Instruments ineffectiveness from foreign recognized in Notional amount used to calculate recognized in currency Stockholders’ hedge income convertion reserve Assets Liabilities (2) ineffectiveness Equity (3) Interest rate risk 28,922,572 - 336,079 (9,568,735) (9,508,813) (59,922) - DDI Future Forward (1,519,375) 1,311,400 - 790,979 767,933 23,046 - NDF - Non Deliverable Forward (13,604,982) 302,042 - 1,777,278 1,773,027 4,251 - (744,501) 744,501 - 61,016 62,765 (1,749) - Financial Assets 13,053,714 2,357,943 336,079 (6,939,462) (6,905,088) (34,374) - Total (1) Recorded under heading Derivative financial instruments. (2) Recorded under heading Equity Valuation Adjustments. (3) DDI Future negotiated on B3 and Financial Assets and Forward contracts or NDF contracts entered into by our subsidiaries abroad. Receipts (payments) of interest flows are expected to occur and will affect the statement of income upon the total or partial disposal of investments. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 83 09/30/2019 Variation in the Variation in the (1) Hedge Amount reclassified Book value amount amounts Hedge Instruments ineffectiveness from foreign recognized in Notional amount used to calculate recognized in currency Stockholders’ hedge income convertion reserve Assets Liabilities (2) ineffectiveness Equity (3) Interest rate risk DDI Future 30,081,960 54,557 - (10,207,958) (10,149,789) (58,169) - Forward (1,580,280) 599,878 - 367,397 361,461 5,936 - (14,150,350) 236,157 - 3,237,765 3,233,514 4,251 - NDF - Non Deliverable Forward (958,628) 958,628 - 222,611 224,360 (1,749) - Financial Assets 13,392,702 1,849,220 - (6,380,185) (6,330,454) (49,731) - Total 09/30/2018 Variation in the Variation in the (1) Hedge Amount reclassified Book value amount amounts Hedge Instruments ineffectiveness from foreign recognized in Notional amount used to calculate recognized in currency Stockholders’ hedge income convertion reserve Assets Liabilities (2) ineffectiveness Equity (3) Interest rate risk 28,922,572 - 336,079 (9,568,735) (9,508,813) (59,922) - DDI Future Forward (1,519,375) 1,311,400 - 790,979 767,933 23,046 - NDF - Non Deliverable Forward (13,604,982) 302,042 - 1,777,278 1,773,027 4,251 - (744,501) 744,501 - 61,016 62,765 (1,749) - Financial Assets 13,053,714 2,357,943 336,079 (6,939,462) (6,905,088) (34,374) - Total (1) Recorded under heading Derivative financial instruments. (2) Recorded under heading Equity Valuation Adjustments. (3) DDI Future negotiated on B3 and Financial Assets and Forward contracts or NDF contracts entered into by our subsidiaries abroad. Receipts (payments) of interest flows are expected to occur and will affect the statement of income upon the total or partial disposal of investments. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 83

IV) We present below the maturity terms of cash flow hedge, market risk hedge strategies and Hedge of net investiment in foreign operations: 09/30/2019 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 securities purchased under agreements to resell 6,779,717 4,562,508 1,745,864 8,251,021 - 4,407,284 - 25,746,394 Hedge of highly probable forecast transactions 26,617,182 - - - - - - 26,617,182 Hedge of assets transactions - 1,778,219 - - - - - 1,778,219 Hedge of assets denominated in UF 6,763,364 2,468,148 57,418 - - - - 9,288,930 Hedge of funding (Cash flow) 2,132,973 - - 1,753,627 171,420 235,988 - 4,294,008 Hedge of loan operations (Cash flow) 28,570 57,140 159,992 28,570 - - - 274,272 Hedge of loan operations (Market risk) 292,353 1,502,627 982,456 1,531,672 821,504 881,870 859,502 6,871,984 Hedge of funding (Market risk) 287,400 320,539 399,980 437,063 137,135 4,401,357 2,099,528 8,083,002 Hedge of available-for-sale securities 4,630,133 840,567 488,587 414,523 2,213,411 2,499,696 674,935 11,761,852 Hedge of asset-backed securities under repurchase agreements 6,227,881 1,647,126 797,006 5,498,881 - 712,854 - 14,883,748 (*) Hedge of net investment in foreign operations 13,392,702 - - - - - - 13,392,702 Total 67,152,275 13,176,874 4,631,303 17,915,357 3,343,470 13,139,049 3,633,965 122,992,293 09/30/2018 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 securities purchased under agreements to resell 12,713,844 7,408,470 4,027,623 128,693 4,504,187 1,447,667 - 30,230,484 Hedge of highly probable forecast transactions 127,600 13,065,697 - - - - - 13,193,297 Hedge of assets transactions 6,466,914 - 1,322,690 - - - - 7,789,604 Hedge of assets denominated in UF 13,070,851 - - 60,499 - - - 13,131,350 Hedge of funding (Cash flow) 2,070,270 974,141 30,480 - - 251,764 - 3,326,655 Hedge of loan operations (Cash flow) - 30,480 60,960 170,688 30,480 - - 292,608 Hedge of loan operations (Market risk) 151,112 1,396,633 1,714,065 1,714,484 414,148 788,453 1,205,881 7,384,776 Hedge of funding (Market risk) 2,219,834 779,413 333,542 426,720 422,243 4,299,508 2,534,919 11,016,179 Hedge of available-for-sale securities 4,431,977 - - - - 316,602 - 4,748,579 Hedge of asset-backed securities under repurchase agreements 26,537,400 5,703,500 1,424,435 - 3,295,269 - - 36,960,604 (*) Hedge of net investment in foreign operations 13,053,714 - - - - - - 13,053,714 Total 80,843,516 29,358,334 8,913,795 2,501,084 8,666,327 7,103,994 3,740,800 141,127,850 (*) Classified as current, since instruments are frequently renewed. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 84 IV) We present below the maturity terms of cash flow hedge, market risk hedge strategies and Hedge of net investiment in foreign operations: 09/30/2019 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 securities purchased under agreements to resell 6,779,717 4,562,508 1,745,864 8,251,021 - 4,407,284 - 25,746,394 Hedge of highly probable forecast transactions 26,617,182 - - - - - - 26,617,182 Hedge of assets transactions - 1,778,219 - - - - - 1,778,219 Hedge of assets denominated in UF 6,763,364 2,468,148 57,418 - - - - 9,288,930 Hedge of funding (Cash flow) 2,132,973 - - 1,753,627 171,420 235,988 - 4,294,008 Hedge of loan operations (Cash flow) 28,570 57,140 159,992 28,570 - - - 274,272 Hedge of loan operations (Market risk) 292,353 1,502,627 982,456 1,531,672 821,504 881,870 859,502 6,871,984 Hedge of funding (Market risk) 287,400 320,539 399,980 437,063 137,135 4,401,357 2,099,528 8,083,002 Hedge of available-for-sale securities 4,630,133 840,567 488,587 414,523 2,213,411 2,499,696 674,935 11,761,852 Hedge of asset-backed securities under repurchase agreements 6,227,881 1,647,126 797,006 5,498,881 - 712,854 - 14,883,748 (*) Hedge of net investment in foreign operations 13,392,702 - - - - - - 13,392,702 Total 67,152,275 13,176,874 4,631,303 17,915,357 3,343,470 13,139,049 3,633,965 122,992,293 09/30/2018 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 securities purchased under agreements to resell 12,713,844 7,408,470 4,027,623 128,693 4,504,187 1,447,667 - 30,230,484 Hedge of highly probable forecast transactions 127,600 13,065,697 - - - - - 13,193,297 Hedge of assets transactions 6,466,914 - 1,322,690 - - - - 7,789,604 Hedge of assets denominated in UF 13,070,851 - - 60,499 - - - 13,131,350 Hedge of funding (Cash flow) 2,070,270 974,141 30,480 - - 251,764 - 3,326,655 Hedge of loan operations (Cash flow) - 30,480 60,960 170,688 30,480 - - 292,608 Hedge of loan operations (Market risk) 151,112 1,396,633 1,714,065 1,714,484 414,148 788,453 1,205,881 7,384,776 Hedge of funding (Market risk) 2,219,834 779,413 333,542 426,720 422,243 4,299,508 2,534,919 11,016,179 Hedge of available-for-sale securities 4,431,977 - - - - 316,602 - 4,748,579 Hedge of asset-backed securities under repurchase agreements 26,537,400 5,703,500 1,424,435 - 3,295,269 - - 36,960,604 (*) Hedge of net investment in foreign operations 13,053,714 - - - - - - 13,053,714 Total 80,843,516 29,358,334 8,913,795 2,501,084 8,666,327 7,103,994 3,740,800 141,127,850 (*) Classified as current, since instruments are frequently renewed. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 84

g) Sensitivity analysis (trading and banking portfolios) In compliance with CVM Instruction 475, ITAÚ UNIBANCO HOLDING CONSOLIDATED carried out a sensitivity analysis for each market risk factor considered significant. The biggest losses arising, by risk factor, in each scenario, were stated together with their impact on the results, net of tax effects, providing an overview of ITAÚ UNIBANCO HOLDING CONSOLIDATED’s exposure under exceptional scenarios. The sensitivity analyses of the banking and the trading portfolio shown in this report are a static evaluation of the portfolio exposure and, therefore, do not take into account management’s quick response capacity (treasury and control areas), which triggers risk mitigating measures whenever a situation of loss or high risk is identified, thus minimizing the possibility of significant losses. In addition, the study's sole purpose is to show the exposure to risk and the respective protective actions, taking into account the fair value of financial instruments, irrespective of the accounting practices adopted by ITAÚ UNIBANCO HOLDING CONSOLIDATED. Trading portfolio Exposures 09/30/2019 (*) Scenarios Risk factors Risk of variations in: I II III 327 (87,547) (168,787) Fixed Interest Rate Fixed Interest Rates in Reais (1,112) (52,748) (105,094) Currency Coupon Foreign Exchange Coupon Rates (2,002) (115,522) (79,581) Foreign Currency Foreign Exchange Rates (80) (3,243) (5,325) Price Indices Inflation Coupon Rates - - - TR TR Coupon Rates 463 22,822 56,563 Equities Prices of Equities 75 (2,761) (5,746) Other Exposures that do not fall under the definitions above Total (2,329) (238,999) (307,970) (*) Amounts net of tax effects. Trading and Banking portfolios Exposures 09/30/2019 (*) Scenarios Risk factors Risk of variations in: I II III Fixed Interest Rate Fixed Interest Rates in Reais (7,491) (1,090,305) (2,146,710) (5,147) (295,537) (573,620) Currency Coupon Foreign Exchange Coupon Rates (1,381) (138,181) (132,633) Foreign Currency Foreign Exchange Rates (2,613) (290,038) (533,959) Price Indices Inflation Coupon Rates TR TR Coupon Rates 478 (66,772) (160,877) 3,462 (51,209) (92,725) Equities Prices of Equities 63 (8,564) (22,141) Other Exposures that do not fall under the definitions above Total (12,629) (1,940,606) (3,662,665) (*) Amounts net of tax effects. The following scenarios are used to measure these sensitivities: · Scenario I: Addition of 1 base point in fixed interest rates, currency coupon, inflation and interest rate index, and 1 percentage point in currency and share prices; · Scenario II: Shocks of 25 percent in fixed interest rates, currency coupon, inflation, interest rate indexes and currency and share prices, both up and down, taking the highest resulting losses per risk factor; · Scenario III: Shocks of 50 percent in fixed interest rates, currency coupon, inflation, interest rate indexes and currency and share prices, both up and down, taking the highest resulting losses per risk factor. Derivative financial instruments contracted by ITAÚ UNIBANCO HOLDING CONSOLIDATED are shown in the item Derivative financial instruments in this note. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 85 g) Sensitivity analysis (trading and banking portfolios) In compliance with CVM Instruction 475, ITAÚ UNIBANCO HOLDING CONSOLIDATED carried out a sensitivity analysis for each market risk factor considered significant. The biggest losses arising, by risk factor, in each scenario, were stated together with their impact on the results, net of tax effects, providing an overview of ITAÚ UNIBANCO HOLDING CONSOLIDATED’s exposure under exceptional scenarios. The sensitivity analyses of the banking and the trading portfolio shown in this report are a static evaluation of the portfolio exposure and, therefore, do not take into account management’s quick response capacity (treasury and control areas), which triggers risk mitigating measures whenever a situation of loss or high risk is identified, thus minimizing the possibility of significant losses. In addition, the study's sole purpose is to show the exposure to risk and the respective protective actions, taking into account the fair value of financial instruments, irrespective of the accounting practices adopted by ITAÚ UNIBANCO HOLDING CONSOLIDATED. Trading portfolio Exposures 09/30/2019 (*) Scenarios Risk factors Risk of variations in: I II III 327 (87,547) (168,787) Fixed Interest Rate Fixed Interest Rates in Reais (1,112) (52,748) (105,094) Currency Coupon Foreign Exchange Coupon Rates (2,002) (115,522) (79,581) Foreign Currency Foreign Exchange Rates (80) (3,243) (5,325) Price Indices Inflation Coupon Rates - - - TR TR Coupon Rates 463 22,822 56,563 Equities Prices of Equities 75 (2,761) (5,746) Other Exposures that do not fall under the definitions above Total (2,329) (238,999) (307,970) (*) Amounts net of tax effects. Trading and Banking portfolios Exposures 09/30/2019 (*) Scenarios Risk factors Risk of variations in: I II III Fixed Interest Rate Fixed Interest Rates in Reais (7,491) (1,090,305) (2,146,710) (5,147) (295,537) (573,620) Currency Coupon Foreign Exchange Coupon Rates (1,381) (138,181) (132,633) Foreign Currency Foreign Exchange Rates (2,613) (290,038) (533,959) Price Indices Inflation Coupon Rates TR TR Coupon Rates 478 (66,772) (160,877) 3,462 (51,209) (92,725) Equities Prices of Equities 63 (8,564) (22,141) Other Exposures that do not fall under the definitions above Total (12,629) (1,940,606) (3,662,665) (*) Amounts net of tax effects. The following scenarios are used to measure these sensitivities: · Scenario I: Addition of 1 base point in fixed interest rates, currency coupon, inflation and interest rate index, and 1 percentage point in currency and share prices; · Scenario II: Shocks of 25 percent in fixed interest rates, currency coupon, inflation, interest rate indexes and currency and share prices, both up and down, taking the highest resulting losses per risk factor; · Scenario III: Shocks of 50 percent in fixed interest rates, currency coupon, inflation, interest rate indexes and currency and share prices, both up and down, taking the highest resulting losses per risk factor. Derivative financial instruments contracted by ITAÚ UNIBANCO HOLDING CONSOLIDATED are shown in the item Derivative financial instruments in this note. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 85

Note 6 - Loan, lease and other credit operations a) Composition of the portfolio with credit granting characteristics I – By type of operations and risk level 09/30/2019 09/30/2018 Risk levels AA A B C D E F G H Total Total Loan operations 251,958,582 106,106,300 50,533,210 27,650,603 9,169,819 5,967,851 3,964,541 5,972,246 10,033,566 471,356,718 442,391,691 Loans and discounted trade receivables 106,876,652 87,124,373 36,654,123 22,476,779 7,922,688 3,931,724 3,063,995 3,836,050 9,096,621 280,983,005 266,076,546 Financing 65,765,895 12,189,545 11,174,077 4,107,093 739,553 1,525,115 454,368 1,533,183 602,247 98,091,076 86,719,240 Farming and agribusiness financing 8,610,303 844,191 768,909 57,166 17,074 23,227 20,107 896 22,643 10,364,516 9,371,753 Real estate financing 70,705,732 5,948,191 1,936,101 1,009,565 490,504 487,785 426,071 602,117 312,055 81,918,121 80,224,152 Lease operations 1,615,320 3,294,241 1,602,086 592,816 110,467 53,676 83,222 49,171 107,792 7,508,791 8,291,560 Credit card operations 411,687 75,713,194 3,889,731 3,209,343 1,406,042 843,027 809,378 765,571 3,649,313 90,697,286 75,110,396 (1) Advance on exchange contracts 2,638,999 1,003,849 658,652 138,854 63,723 24,389 22,144 920 11,528 4,563,058 3,851,116 (2) Other sundry receivables 44,226 268,861 5,688 46,717 55,715 7,168 83,294 1,105,554 276,514 1,893,737 875,146 Total operations with credit granting characteristics 256,668,814 186,386,445 56,689,367 31,638,333 10,805,766 6,896,111 4,962,579 7,893,462 14,078,713 576,019,590 530,519,909 (3) Financial guarantees provided 65,715,781 69,585,299 Total with Financial guarantees provided 256,668,814 186,386,445 56,689,367 31,638,333 10,805,766 6,896,111 4,962,579 7,893,462 14,078,713 641,735,371 600,105,208 Total – 09/30/2018 233,656,052 178,281,565 48,429,197 25,566,131 11,405,263 5,416,482 6,922,124 6,832,270 14,010,825 530,519,909 (1) Includes advances on exchange contracts and Income receivable from advances granted, reclassified from Liabilities – Foreign exchange portfolio / Other receivables (Note 2a); (2) Includes securities and credits receivable, debtors for purchase of assets and financial guarantees provided paid; (3) Recorded in Offsetting accounts. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 86 Note 6 - Loan, lease and other credit operations a) Composition of the portfolio with credit granting characteristics I – By type of operations and risk level 09/30/2019 09/30/2018 Risk levels AA A B C D E F G H Total Total Loan operations 251,958,582 106,106,300 50,533,210 27,650,603 9,169,819 5,967,851 3,964,541 5,972,246 10,033,566 471,356,718 442,391,691 Loans and discounted trade receivables 106,876,652 87,124,373 36,654,123 22,476,779 7,922,688 3,931,724 3,063,995 3,836,050 9,096,621 280,983,005 266,076,546 Financing 65,765,895 12,189,545 11,174,077 4,107,093 739,553 1,525,115 454,368 1,533,183 602,247 98,091,076 86,719,240 Farming and agribusiness financing 8,610,303 844,191 768,909 57,166 17,074 23,227 20,107 896 22,643 10,364,516 9,371,753 Real estate financing 70,705,732 5,948,191 1,936,101 1,009,565 490,504 487,785 426,071 602,117 312,055 81,918,121 80,224,152 Lease operations 1,615,320 3,294,241 1,602,086 592,816 110,467 53,676 83,222 49,171 107,792 7,508,791 8,291,560 Credit card operations 411,687 75,713,194 3,889,731 3,209,343 1,406,042 843,027 809,378 765,571 3,649,313 90,697,286 75,110,396 (1) Advance on exchange contracts 2,638,999 1,003,849 658,652 138,854 63,723 24,389 22,144 920 11,528 4,563,058 3,851,116 (2) Other sundry receivables 44,226 268,861 5,688 46,717 55,715 7,168 83,294 1,105,554 276,514 1,893,737 875,146 Total operations with credit granting characteristics 256,668,814 186,386,445 56,689,367 31,638,333 10,805,766 6,896,111 4,962,579 7,893,462 14,078,713 576,019,590 530,519,909 (3) Financial guarantees provided 65,715,781 69,585,299 Total with Financial guarantees provided 256,668,814 186,386,445 56,689,367 31,638,333 10,805,766 6,896,111 4,962,579 7,893,462 14,078,713 641,735,371 600,105,208 Total – 09/30/2018 233,656,052 178,281,565 48,429,197 25,566,131 11,405,263 5,416,482 6,922,124 6,832,270 14,010,825 530,519,909 (1) Includes advances on exchange contracts and Income receivable from advances granted, reclassified from Liabilities – Foreign exchange portfolio / Other receivables (Note 2a); (2) Includes securities and credits receivable, debtors for purchase of assets and financial guarantees provided paid; (3) Recorded in Offsetting accounts. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 86

II – By maturity and risk level 09/30/2019 09/30/2018 AA A B C D E F G H Total Total (1) (2) Overdue Operations Falling due installments - - 1,999,130 1,851,514 1,410,790 1,210,465 1,178,270 1,063,933 3,717,550 12,431,652 13,043,266 01 to 30 - - 79,599 94,158 75,408 174,240 59,889 70,022 222,878 776,194 495,199 31 to 60 - - 89,625 86,487 65,747 52,282 50,988 57,367 188,420 590,916 388,395 61 to 90 - - 67,497 77,106 62,279 46,129 48,320 57,910 180,577 539,818 390,318 91 to 180 - - 227,036 208,140 171,128 148,329 134,289 156,471 448,848 1,494,241 1,176,890 181 to 365 - - 298,819 339,104 266,019 198,882 216,988 222,373 705,203 2,247,388 1,883,392 Over 365 - - 1,236,554 1,046,519 770,209 590,603 667,796 499,790 1,971,624 6,783,095 8,709,072 Overdue installments - - 1,046,549 1,199,670 1,227,404 1,244,250 1,434,270 1,758,889 7,069,690 14,980,722 13,119,594 01 to 14 - - 9,347 34,354 29,152 34,325 23,841 33,739 78,931 243,689 194,352 15 to 30 - - 835,125 153,497 130,110 93,840 56,632 99,599 144,737 1,513,540 1,587,580 31 to 60 - - 202,077 844,804 232,470 157,499 147,699 120,135 324,748 2,029,432 1,776,016 61 to 90 - - - 138,485 773,621 144,669 158,877 264,075 296,156 1,775,883 1,644,232 91 to 180 - - - 28,530 62,051 755,774 961,925 1,185,416 1,376,889 4,370,585 3,428,650 181 to 365 - - - - - 58,143 85,296 55,925 4,616,367 4,815,731 4,255,828 Over 365 - - - - - - - - 231,862 231,862 232,936 Subtotal (a) - - 3,045,679 3,051,184 2,638,194 2,454,715 2,612,540 2,822,822 10,787,240 27,412,374 26,162,860 Subtotal - 09/30/2018 - - 3,272,867 2,967,798 2,324,382 2,129,267 2,553,699 3,226,909 9,687,938 26,162,860 Non-overdue operations Falling due installments 255,925,895 184,286,040 53,253,491 28,299,163 8,003,953 4,310,948 2,268,849 5,023,789 3,233,367 544,605,495 500,938,778 01 to 30 20,941,569 43,296,561 9,372,973 4,657,608 1,490,985 447,540 288,856 368,825 447,110 81,312,027 68,029,938 31 to 60 20,925,855 18,621,210 4,227,543 1,844,599 511,003 212,978 103,985 53,706 294,349 46,795,228 40,522,320 61 to 90 13,256,557 12,859,738 3,509,579 1,332,143 375,716 281,414 71,605 328,983 224,797 32,240,532 29,442,324 91 to 180 25,880,526 26,233,383 7,900,773 2,859,363 1,113,203 352,059 210,962 382,336 340,465 65,273,070 53,572,497 181 to 365 37,222,337 25,288,981 8,006,014 3,594,155 1,213,616 652,241 281,353 320,685 555,547 77,134,929 63,229,821 Over 365 137,699,051 57,986,167 20,236,609 14,011,295 3,299,430 2,364,716 1,312,088 3,569,254 1,371,099 241,849,709 246,141,878 Overdue up to 14 days 742,919 2,100,405 390,197 287,986 163,619 130,448 81,190 46,851 58,106 4,001,721 3,418,271 Subtotal (b) 256,668,814 186,386,445 53,643,688 28,587,149 8,167,572 4,441,396 2,350,039 5,070,640 3,291,473 548,607,216 504,357,049 Subtotal - 09/30/2018 233,656,052 178,281,565 45,156,330 22,598,333 9,080,881 3,287,215 4,368,425 3,605,361 4,322,887 504,357,049 256,668,814 186,386,445 56,689,367 31,638,333 10,805,766 6,896,111 4,962,579 7,893,462 14,078,713 576,019,590 530,519,909 Total Portfolio (a + b) Existing allowance - ( 931,932) (566,894) ( 949,150) ( 1,080,577) (3,005,149) (4,962,083) (7,892,672) (14,078,713) (34,477,248) (35,496,307) Minimum - ( 931,932) ( 566,894) (949,150) (1,080,577) ( 2,068,833) (2,481,290) ( 5,525,423) ( 14,078,713) ( 27,682,812) ( 27,162,631) (3) - - - - - - - - - (1,010,078) (1,268,994) Financial Guarantees Provided (4) Additional - - - - - ( 936,316) ( 2,480,793) (2,367,249) - (5,784,358) (7,064,682) 233,656,052 178,281,565 48,429,197 25,566,131 11,405,263 5,416,482 6,922,124 6,832,270 14,010,825 530,519,909 Total Portfolio at 09/30/2018 Existing allowance at 09/30/2018 - ( 891,408) (484,292) ( 766,984) ( 1,140,526) ( 3,180,259) ( 6,921,432) (6,831,587) ( 14,010,825) ( 35,496,307) Minimum - ( 891,408) ( 484,292) (766,984) (1,140,526) ( 1,624,945) (3,461,062) (4,782,589) (14,010,825) (27,162,631) (3) - - - - - - - - - ( 1,268,994) Financial Guarantees Provided (4) Additional - - - - - (1,555,314) ( 3,460,370) (2,048,998) - ( 7,064,682) (1) Operations with overdue installments for more than 14 days or under control of administrators or in companies in the process of declaring bankruptcy; (2) The balance of non-accrual operations amounts to R$ 19,763,456 (R$ 18,778,534 at 09/30/2018); (3) Provision for financial guarantees provided, recorded in Other liabilities - Sundry, in the Consolidated Balance Sheet; (4) Related to expected and potential loss. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 87 II – By maturity and risk level 09/30/2019 09/30/2018 AA A B C D E F G H Total Total (1) (2) Overdue Operations Falling due installments - - 1,999,130 1,851,514 1,410,790 1,210,465 1,178,270 1,063,933 3,717,550 12,431,652 13,043,266 01 to 30 - - 79,599 94,158 75,408 174,240 59,889 70,022 222,878 776,194 495,199 31 to 60 - - 89,625 86,487 65,747 52,282 50,988 57,367 188,420 590,916 388,395 61 to 90 - - 67,497 77,106 62,279 46,129 48,320 57,910 180,577 539,818 390,318 91 to 180 - - 227,036 208,140 171,128 148,329 134,289 156,471 448,848 1,494,241 1,176,890 181 to 365 - - 298,819 339,104 266,019 198,882 216,988 222,373 705,203 2,247,388 1,883,392 Over 365 - - 1,236,554 1,046,519 770,209 590,603 667,796 499,790 1,971,624 6,783,095 8,709,072 Overdue installments - - 1,046,549 1,199,670 1,227,404 1,244,250 1,434,270 1,758,889 7,069,690 14,980,722 13,119,594 01 to 14 - - 9,347 34,354 29,152 34,325 23,841 33,739 78,931 243,689 194,352 15 to 30 - - 835,125 153,497 130,110 93,840 56,632 99,599 144,737 1,513,540 1,587,580 31 to 60 - - 202,077 844,804 232,470 157,499 147,699 120,135 324,748 2,029,432 1,776,016 61 to 90 - - - 138,485 773,621 144,669 158,877 264,075 296,156 1,775,883 1,644,232 91 to 180 - - - 28,530 62,051 755,774 961,925 1,185,416 1,376,889 4,370,585 3,428,650 181 to 365 - - - - - 58,143 85,296 55,925 4,616,367 4,815,731 4,255,828 Over 365 - - - - - - - - 231,862 231,862 232,936 Subtotal (a) - - 3,045,679 3,051,184 2,638,194 2,454,715 2,612,540 2,822,822 10,787,240 27,412,374 26,162,860 Subtotal - 09/30/2018 - - 3,272,867 2,967,798 2,324,382 2,129,267 2,553,699 3,226,909 9,687,938 26,162,860 Non-overdue operations Falling due installments 255,925,895 184,286,040 53,253,491 28,299,163 8,003,953 4,310,948 2,268,849 5,023,789 3,233,367 544,605,495 500,938,778 01 to 30 20,941,569 43,296,561 9,372,973 4,657,608 1,490,985 447,540 288,856 368,825 447,110 81,312,027 68,029,938 31 to 60 20,925,855 18,621,210 4,227,543 1,844,599 511,003 212,978 103,985 53,706 294,349 46,795,228 40,522,320 61 to 90 13,256,557 12,859,738 3,509,579 1,332,143 375,716 281,414 71,605 328,983 224,797 32,240,532 29,442,324 91 to 180 25,880,526 26,233,383 7,900,773 2,859,363 1,113,203 352,059 210,962 382,336 340,465 65,273,070 53,572,497 181 to 365 37,222,337 25,288,981 8,006,014 3,594,155 1,213,616 652,241 281,353 320,685 555,547 77,134,929 63,229,821 Over 365 137,699,051 57,986,167 20,236,609 14,011,295 3,299,430 2,364,716 1,312,088 3,569,254 1,371,099 241,849,709 246,141,878 Overdue up to 14 days 742,919 2,100,405 390,197 287,986 163,619 130,448 81,190 46,851 58,106 4,001,721 3,418,271 Subtotal (b) 256,668,814 186,386,445 53,643,688 28,587,149 8,167,572 4,441,396 2,350,039 5,070,640 3,291,473 548,607,216 504,357,049 Subtotal - 09/30/2018 233,656,052 178,281,565 45,156,330 22,598,333 9,080,881 3,287,215 4,368,425 3,605,361 4,322,887 504,357,049 256,668,814 186,386,445 56,689,367 31,638,333 10,805,766 6,896,111 4,962,579 7,893,462 14,078,713 576,019,590 530,519,909 Total Portfolio (a + b) Existing allowance - ( 931,932) (566,894) ( 949,150) ( 1,080,577) (3,005,149) (4,962,083) (7,892,672) (14,078,713) (34,477,248) (35,496,307) Minimum - ( 931,932) ( 566,894) (949,150) (1,080,577) ( 2,068,833) (2,481,290) ( 5,525,423) ( 14,078,713) ( 27,682,812) ( 27,162,631) (3) - - - - - - - - - (1,010,078) (1,268,994) Financial Guarantees Provided (4) Additional - - - - - ( 936,316) ( 2,480,793) (2,367,249) - (5,784,358) (7,064,682) 233,656,052 178,281,565 48,429,197 25,566,131 11,405,263 5,416,482 6,922,124 6,832,270 14,010,825 530,519,909 Total Portfolio at 09/30/2018 Existing allowance at 09/30/2018 - ( 891,408) (484,292) ( 766,984) ( 1,140,526) ( 3,180,259) ( 6,921,432) (6,831,587) ( 14,010,825) ( 35,496,307) Minimum - ( 891,408) ( 484,292) (766,984) (1,140,526) ( 1,624,945) (3,461,062) (4,782,589) (14,010,825) (27,162,631) (3) - - - - - - - - - ( 1,268,994) Financial Guarantees Provided (4) Additional - - - - - (1,555,314) ( 3,460,370) (2,048,998) - ( 7,064,682) (1) Operations with overdue installments for more than 14 days or under control of administrators or in companies in the process of declaring bankruptcy; (2) The balance of non-accrual operations amounts to R$ 19,763,456 (R$ 18,778,534 at 09/30/2018); (3) Provision for financial guarantees provided, recorded in Other liabilities - Sundry, in the Consolidated Balance Sheet; (4) Related to expected and potential loss. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 87

III – By business sector 09/30/2019 % 09/30/2018 % 514,480 0.1% 1,527,128 0.3% Public Sector Energy - 0.0% 13,615 0.0% Petrochemical and chemical 213,490 0.0% 1,139,445 0.2% Sundry 300,990 0.1% 374,068 0.1% 575,505,110 99.9% 528,992,781 99.7% Private sector Companies 283,087,910 49.1% 266,360,629 50.2% Sugar and alcohol 4,768,425 0.8% 6,220,038 1.2% Agribusiness and fertilizers 18,148,774 3.2% 16,680,924 3.1% Food and beverage 16,448,366 2.8% 13,888,904 2.6% 10,473,523 1.8% 8,191,626 1.5% Banks and other financial institutions Capital assets 5,171,970 0.9% 4,503,437 0.8% Pulp and paper 1,430,212 0.2% 2,022,566 0.4% Publishing and printing 1,166,788 0.2% 1,014,591 0.2% Electronic and IT 5,190,840 0.9% 4,123,484 0.8% Packaging 2,300,221 0.4% 2,263,891 0.4% Energy and sewage 8,683,760 1.5% 9,857,128 1.9% Education 2,001,584 0.3% 2,118,747 0.4% Pharmaceuticals and cosmetics 6,017,411 1.0% 5,147,755 1.0% Real estate agents 21,074,707 3.7% 19,034,050 3.6% Entertainment and tourism 5,163,462 0.9% 4,812,827 0.9% 3,188,271 0.6% 2,905,112 0.5% Wood and furniture Construction materials 5,043,986 0.9% 4,573,798 0.9% 8,393,054 1.5% 7,669,857 1.4% Steel and metallurgy Media 611,817 0.1% 650,662 0.1% Mining 4,786,745 0.8% 6,379,818 1.2% Infrastructure work 9,505,566 1.7% 9,379,378 1.8% (*) Oil and gas 5,867,211 1.0% 6,335,727 1.2% Petrochemical and chemical 9,857,981 1.7% 8,478,495 1.6% Health care 3,106,421 0.5% 2,496,187 0.5% Insurance, reinsurance and pension plans 22,548 0.0% 27,134 0.0% Telecommucations 2,631,048 0.5% 1,972,039 0.4% Third sector 1,789,655 0.3% 1,985,588 0.4% Tradings 1,915,262 0.3% 1,976,040 0.4% Transportation 18,167,801 3.1% 15,235,592 2.9% Domestic appliances 2,109,821 0.4% 1,818,590 0.3% 12,155,554 2.1% 10,490,057 2.0% Vehicles and autoparts Clothing and shoes 4,374,168 0.8% 4,693,795 0.9% Commerce - sundry 20,368,130 3.5% 17,405,895 3.3% Industry - sundry 10,083,440 1.8% 9,338,341 1.8% Sundry services 40,212,865 7.0% 39,403,076 7.4% Sundry 10,856,523 1.9% 13,265,480 2.4% 292,417,200 50.8% 262,632,152 49.5% Individuals Credit cards 89,000,946 15.5% 74,066,172 14.0% Mortgage loans 73,394,358 12.7% 69,882,406 13.2% Consumer loans / checking account 111,635,110 19.4% 102,762,186 19.3% Vehicles 18,386,786 3.2% 15,921,388 3.0% 576,019,590 100.0% 530,519,909 100.0% Grand total (*) Comprises trade of fuel. IV - Financial guarantees provided by type 09/30/2019 09/30/2018 Type of guarantees Portfolio Provision Portfolio Provision Endorsements or sureties pledged in legal and administrative tax proceedings 30,207,678 (302,552) 34,125,281 (462,125) Sundry bank guarantees 23,053,227 (590,675) 22,955,316 (656,869) Other financial guarantees provided 6,904,097 (51,457) 7,363,471 (90,721) Tied to the distribution of marketable securities by Public Offering 975,000 (130) 218,500 (267) Restricted to bids, auctions, service provision or execution of works 3,040,827 (26,192) 4,153,920 (51,566) Restricted to international trade of goods 984,064 (35,798) 585,660 (6,017) Restricted to supply of goods 550,888 (3,274) 183,151 (1,429) Total 65,715,781 (1,010,078) 69,585,299 (1,268,994) Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 88 III – By business sector 09/30/2019 % 09/30/2018 % 514,480 0.1% 1,527,128 0.3% Public Sector Energy - 0.0% 13,615 0.0% Petrochemical and chemical 213,490 0.0% 1,139,445 0.2% Sundry 300,990 0.1% 374,068 0.1% 575,505,110 99.9% 528,992,781 99.7% Private sector Companies 283,087,910 49.1% 266,360,629 50.2% Sugar and alcohol 4,768,425 0.8% 6,220,038 1.2% Agribusiness and fertilizers 18,148,774 3.2% 16,680,924 3.1% Food and beverage 16,448,366 2.8% 13,888,904 2.6% 10,473,523 1.8% 8,191,626 1.5% Banks and other financial institutions Capital assets 5,171,970 0.9% 4,503,437 0.8% Pulp and paper 1,430,212 0.2% 2,022,566 0.4% Publishing and printing 1,166,788 0.2% 1,014,591 0.2% Electronic and IT 5,190,840 0.9% 4,123,484 0.8% Packaging 2,300,221 0.4% 2,263,891 0.4% Energy and sewage 8,683,760 1.5% 9,857,128 1.9% Education 2,001,584 0.3% 2,118,747 0.4% Pharmaceuticals and cosmetics 6,017,411 1.0% 5,147,755 1.0% Real estate agents 21,074,707 3.7% 19,034,050 3.6% Entertainment and tourism 5,163,462 0.9% 4,812,827 0.9% 3,188,271 0.6% 2,905,112 0.5% Wood and furniture Construction materials 5,043,986 0.9% 4,573,798 0.9% 8,393,054 1.5% 7,669,857 1.4% Steel and metallurgy Media 611,817 0.1% 650,662 0.1% Mining 4,786,745 0.8% 6,379,818 1.2% Infrastructure work 9,505,566 1.7% 9,379,378 1.8% (*) Oil and gas 5,867,211 1.0% 6,335,727 1.2% Petrochemical and chemical 9,857,981 1.7% 8,478,495 1.6% Health care 3,106,421 0.5% 2,496,187 0.5% Insurance, reinsurance and pension plans 22,548 0.0% 27,134 0.0% Telecommucations 2,631,048 0.5% 1,972,039 0.4% Third sector 1,789,655 0.3% 1,985,588 0.4% Tradings 1,915,262 0.3% 1,976,040 0.4% Transportation 18,167,801 3.1% 15,235,592 2.9% Domestic appliances 2,109,821 0.4% 1,818,590 0.3% 12,155,554 2.1% 10,490,057 2.0% Vehicles and autoparts Clothing and shoes 4,374,168 0.8% 4,693,795 0.9% Commerce - sundry 20,368,130 3.5% 17,405,895 3.3% Industry - sundry 10,083,440 1.8% 9,338,341 1.8% Sundry services 40,212,865 7.0% 39,403,076 7.4% Sundry 10,856,523 1.9% 13,265,480 2.4% 292,417,200 50.8% 262,632,152 49.5% Individuals Credit cards 89,000,946 15.5% 74,066,172 14.0% Mortgage loans 73,394,358 12.7% 69,882,406 13.2% Consumer loans / checking account 111,635,110 19.4% 102,762,186 19.3% Vehicles 18,386,786 3.2% 15,921,388 3.0% 576,019,590 100.0% 530,519,909 100.0% Grand total (*) Comprises trade of fuel. IV - Financial guarantees provided by type 09/30/2019 09/30/2018 Type of guarantees Portfolio Provision Portfolio Provision Endorsements or sureties pledged in legal and administrative tax proceedings 30,207,678 (302,552) 34,125,281 (462,125) Sundry bank guarantees 23,053,227 (590,675) 22,955,316 (656,869) Other financial guarantees provided 6,904,097 (51,457) 7,363,471 (90,721) Tied to the distribution of marketable securities by Public Offering 975,000 (130) 218,500 (267) Restricted to bids, auctions, service provision or execution of works 3,040,827 (26,192) 4,153,920 (51,566) Restricted to international trade of goods 984,064 (35,798) 585,660 (6,017) Restricted to supply of goods 550,888 (3,274) 183,151 (1,429) Total 65,715,781 (1,010,078) 69,585,299 (1,268,994) Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 88

b) Credit concentration 09/30/2019 09/30/2018 (*) Loan, lease and other credit operations % of % of Risk Risk total total Largest debtor 5,698,734 0.9 5,266,471 0.9 10 largest debtors 29,090,020 4.5 30,405,616 5.1 20 largest debtors 44,256,356 6.9 46,822,142 7.8 50 largest debtors 72,184,783 11.2 73,867,234 12.3 100 largest debtors 99,091,452 15.4 100,330,428 16.7 (*) Amounts include financial guarantees provided. 09/30/2019 09/30/2018 Loan, lease and other credit operations and securities of (*) companies and financial institutions % of % of Risk Risk total total Largest debtor 6,265,332 0.8 7,981,113 1.2 10 largest debtors 47,125,140 6.3 44,159,947 6.4 20 largest debtors 74,283,541 9.9 68,833,876 10.0 50 largest debtors 125,336,992 16.7 108,456,583 15.8 100 largest debtors 166,304,263 22.1 144,145,543 21.0 (*) Amounts include financial guarantees provided. c) Changes in the provision for loan losses and Provision for Financial Guarantees Provided 01/01 to 01/01 to 09/30/2019 09/30/2018 Opening balance (34,260,632) (37,309,465) Net increase for the period (13,950,493) (11,249,910) (14,666,886) (13,026,390) Minimum Financial Guarantees Provided 125,616 680,650 Additional 590,777 1,095,830 Write-Off 14,023,567 13,916,357 Others, mainly foreign exchange (289,690) (853,289) (1) Closing balance (34,477,248) (35,496,307) Minimum (27,682,812) (27,162,631) (2) Financial Guarantees Provided (1,010,078) (1,268,994) Additional (5,784,358) (7,064,682) (34,477,248) (35,496,307) Existing provision (11,212,903) (10,159,579) Provision delay Provision aggravated (10,122,930) (10,417,914) Provision potential (13,141,415) (14,918,814) (1) The provision for loan losses regarding the lease portfolio amounts to: R$ (261.295) (R$ (306.300) at 09/30/2018); (2) Provision for financial guarantees provided, recorded in Other liabilities - Sundry, in the Consolidated Balance Sheet. At 09/30/2019, the balance of the provision regarding the loan portfolio is equivalent to 6.0% (6.7% at 09/30/2018). d) Renegotiation of credits 09/30/2019 09/30/2018 Provision for Provision for (1) (1) % % Portfolio Portfolio Loan Losses Loan Losses Total renegotiated loans 28,449,744 ( 11,249,051) 39.5% 27,852,229 (11,372,328) 40.8% (2) (11,542,880) 3,071,376 26.6% ( 9,928,507) 2,392,773 24.1% (-) Renegotiated loans overdue up to 30 days (2) 16,906,864 (8,177,675) 48.4% 17,923,722 ( 8,979,555) 50.1% Renegotiated loans overdue over 30 days (1) The amounts related to renegotiated loans up to 30 days of the Lease Portfolio are: R$ 97,774 (R$ 113,902 at 09/30/2018); (2) Delays determined upon renegotiation. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 89 b) Credit concentration 09/30/2019 09/30/2018 (*) Loan, lease and other credit operations % of % of Risk Risk total total Largest debtor 5,698,734 0.9 5,266,471 0.9 10 largest debtors 29,090,020 4.5 30,405,616 5.1 20 largest debtors 44,256,356 6.9 46,822,142 7.8 50 largest debtors 72,184,783 11.2 73,867,234 12.3 100 largest debtors 99,091,452 15.4 100,330,428 16.7 (*) Amounts include financial guarantees provided. 09/30/2019 09/30/2018 Loan, lease and other credit operations and securities of (*) companies and financial institutions % of % of Risk Risk total total Largest debtor 6,265,332 0.8 7,981,113 1.2 10 largest debtors 47,125,140 6.3 44,159,947 6.4 20 largest debtors 74,283,541 9.9 68,833,876 10.0 50 largest debtors 125,336,992 16.7 108,456,583 15.8 100 largest debtors 166,304,263 22.1 144,145,543 21.0 (*) Amounts include financial guarantees provided. c) Changes in the provision for loan losses and Provision for Financial Guarantees Provided 01/01 to 01/01 to 09/30/2019 09/30/2018 Opening balance (34,260,632) (37,309,465) Net increase for the period (13,950,493) (11,249,910) (14,666,886) (13,026,390) Minimum Financial Guarantees Provided 125,616 680,650 Additional 590,777 1,095,830 Write-Off 14,023,567 13,916,357 Others, mainly foreign exchange (289,690) (853,289) (1) Closing balance (34,477,248) (35,496,307) Minimum (27,682,812) (27,162,631) (2) Financial Guarantees Provided (1,010,078) (1,268,994) Additional (5,784,358) (7,064,682) (34,477,248) (35,496,307) Existing provision (11,212,903) (10,159,579) Provision delay Provision aggravated (10,122,930) (10,417,914) Provision potential (13,141,415) (14,918,814) (1) The provision for loan losses regarding the lease portfolio amounts to: R$ (261.295) (R$ (306.300) at 09/30/2018); (2) Provision for financial guarantees provided, recorded in Other liabilities - Sundry, in the Consolidated Balance Sheet. At 09/30/2019, the balance of the provision regarding the loan portfolio is equivalent to 6.0% (6.7% at 09/30/2018). d) Renegotiation of credits 09/30/2019 09/30/2018 Provision for Provision for (1) (1) % % Portfolio Portfolio Loan Losses Loan Losses Total renegotiated loans 28,449,744 ( 11,249,051) 39.5% 27,852,229 (11,372,328) 40.8% (2) (11,542,880) 3,071,376 26.6% ( 9,928,507) 2,392,773 24.1% (-) Renegotiated loans overdue up to 30 days (2) 16,906,864 (8,177,675) 48.4% 17,923,722 ( 8,979,555) 50.1% Renegotiated loans overdue over 30 days (1) The amounts related to renegotiated loans up to 30 days of the Lease Portfolio are: R$ 97,774 (R$ 113,902 at 09/30/2018); (2) Delays determined upon renegotiation. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 89

e) Restricted operations on assets See below the information related to the restricted operations involving assets, in accordance with CMN Resolution nº. 2,921, of January 17, 2002. 01/01 to 01/01 to 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Over 365 Income Income 31 - 180 181 - 365 Total Total days (expenses) (expenses) Restricted operations on assets Loan operations 60,076 - 8,831,151 8,891,227 9,863,754 704,223 1,204,654 Liabilities - restricted operations on assets Foreign borrowing through securities 60,076 - 8,827,386 8,887,462 9,935,429 (703,062) (1,205,598) 1,161 (944) Net revenue from restricted operations At 09/30/2019 and 09/30/2018 there were no balances in default. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 90 e) Restricted operations on assets See below the information related to the restricted operations involving assets, in accordance with CMN Resolution nº. 2,921, of January 17, 2002. 01/01 to 01/01 to 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Over 365 Income Income 31 - 180 181 - 365 Total Total days (expenses) (expenses) Restricted operations on assets Loan operations 60,076 - 8,831,151 8,891,227 9,863,754 704,223 1,204,654 Liabilities - restricted operations on assets Foreign borrowing through securities 60,076 - 8,827,386 8,887,462 9,935,429 (703,062) (1,205,598) 1,161 (944) Net revenue from restricted operations At 09/30/2019 and 09/30/2018 there were no balances in default. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 90

f) Operations of sale or transfers and acquisition of financial assets ITAÚ UNIBANCO HOLDING CONSOLIDATED carried out operations of sale or transfer of financial assets in which there was retention of credit risks of financial assets transferred under co-obligation covenants. Thus these credits are still recorded in the Consolidated Balance Sheet and are represented as follows: 09/30/2019 09/30/2018 (1) (1) Assets Assets Liabilities Liabilities Nature of operation Book value Fair value Book value Fair value Book value Fair value Book value Fair value Mortgage Loan 1,507,881 1,547,990 1,506,492 1,546,601 1,981,231 1,896,969 1,973,047 1,888,785 Working capital 1,664,033 1,664,951 1,660,950 1,661,868 2,193,455 2,193,455 2,159,656 2,159,656 (2) Other - - 1,846 1,846 - - 3,718 3,718 Total 3,171,914 3,212,941 3,169,288 3,210,315 4,174,686 4,090,424 4,136,421 4,052,160 (1) Under Other liabilities Sundry; (2) Assignment of operations that had already been written down to losses. Transfers of financial assets with no retention of risks and benefits generated impact on the result of R$ 161,735 in the period from January 1 to September 30, 2019 (R$ 71,934 from January 1 to September 30, 2018), net of the Provision for Loan Losses. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 91 f) Operations of sale or transfers and acquisition of financial assets ITAÚ UNIBANCO HOLDING CONSOLIDATED carried out operations of sale or transfer of financial assets in which there was retention of credit risks of financial assets transferred under co-obligation covenants. Thus these credits are still recorded in the Consolidated Balance Sheet and are represented as follows: 09/30/2019 09/30/2018 (1) (1) Assets Assets Liabilities Liabilities Nature of operation Book value Fair value Book value Fair value Book value Fair value Book value Fair value Mortgage Loan 1,507,881 1,547,990 1,506,492 1,546,601 1,981,231 1,896,969 1,973,047 1,888,785 Working capital 1,664,033 1,664,951 1,660,950 1,661,868 2,193,455 2,193,455 2,159,656 2,159,656 (2) Other - - 1,846 1,846 - - 3,718 3,718 Total 3,171,914 3,212,941 3,169,288 3,210,315 4,174,686 4,090,424 4,136,421 4,052,160 (1) Under Other liabilities Sundry; (2) Assignment of operations that had already been written down to losses. Transfers of financial assets with no retention of risks and benefits generated impact on the result of R$ 161,735 in the period from January 1 to September 30, 2019 (R$ 71,934 from January 1 to September 30, 2018), net of the Provision for Loan Losses. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 91

Note 7 – Funding, borrowing and onlending a) Summary 09/30/2019 09/30/2018 0-30 31-180 181-365 Over 365 days Total Total Deposits 270,173,479 40,385,355 23,552,691 156,726,486 490,838,011 454,551,571 Deposits received under securities repurchase agreements 240,890,776 2,245,643 2,318,597 51,047,827 296,502,843 314,575,274 Funds from acceptance and issuance of securities 3,586,112 20,803,790 26,440,484 80,053,043 130,883,429 118,684,376 Borrowing and onlending 17,741,970 24,815,861 24,910,391 10,301,556 77,769,778 67,257,706 Subordinated debt - 52,113 4,270,007 51,136,679 55,458,799 53,720,834 Total 532,392,337 88,302,762 81,492,170 349,265,591 1,051,452,860 1,008,789,761 % per maturity date 50.6 8.4 7.8 33.2 100.0 Total – 09/30/2018 492,947,308 78,408,506 72,014,165 365,419,782 1,008,789,761 % per maturity date 48.9 7.8 7.1 36.2 100.0 b) Deposits 09/30/2019 09/30/2018 0-30 31-180 181-365 Over 365 days Total Total Remunerated deposits 187,923,320 40,385,355 23,552,691 156,726,486 408,587,852 379,732,170 Time deposits 47,519,653 39,589,297 23,355,536 156,564,326 267,028,812 244,247,059 Savings accounts 140,122,240 - - - 140,122,240 132,373,654 Interbank 281,427 796,058 197,155 162,160 1,436,800 3,111,457 Non-remunerated deposits 82,250,159 - - - 82,250,159 74,819,401 Demand deposits 82,244,851 - - - 82,244,851 74,816,713 Other deposits 5,308 - - - 5,308 2,688 Total 270,173,479 40,385,355 23,552,691 156,726,486 490,838,011 454,551,571 % per maturity data 55.1 8.2 4.8 31.9 100.0 Total – 09/30/2018 247,087,920 32,010,264 22,034,677 153,418,710 454,551,571 % per maturity date 54.4 7.0 4.8 33.8 100.0 In ITAÚ UNIBANCO HOLDING, the portfolio is composed of Interbank Deposits with maturity within 31 to 180 days (R$ 6,123,443 at 09/30/2018) and over 365 days (R$ 7,859,450 at 09/30/2018), totaling (R$ 13,982,893 at 09/30/2018) and Demand deposits with maturity within 0 to 30 days amouting to R$ 27,104 (R$ 14,056,529 at 09/30/2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 92 Note 7 – Funding, borrowing and onlending a) Summary 09/30/2019 09/30/2018 0-30 31-180 181-365 Over 365 days Total Total Deposits 270,173,479 40,385,355 23,552,691 156,726,486 490,838,011 454,551,571 Deposits received under securities repurchase agreements 240,890,776 2,245,643 2,318,597 51,047,827 296,502,843 314,575,274 Funds from acceptance and issuance of securities 3,586,112 20,803,790 26,440,484 80,053,043 130,883,429 118,684,376 Borrowing and onlending 17,741,970 24,815,861 24,910,391 10,301,556 77,769,778 67,257,706 Subordinated debt - 52,113 4,270,007 51,136,679 55,458,799 53,720,834 Total 532,392,337 88,302,762 81,492,170 349,265,591 1,051,452,860 1,008,789,761 % per maturity date 50.6 8.4 7.8 33.2 100.0 Total – 09/30/2018 492,947,308 78,408,506 72,014,165 365,419,782 1,008,789,761 % per maturity date 48.9 7.8 7.1 36.2 100.0 b) Deposits 09/30/2019 09/30/2018 0-30 31-180 181-365 Over 365 days Total Total Remunerated deposits 187,923,320 40,385,355 23,552,691 156,726,486 408,587,852 379,732,170 Time deposits 47,519,653 39,589,297 23,355,536 156,564,326 267,028,812 244,247,059 Savings accounts 140,122,240 - - - 140,122,240 132,373,654 Interbank 281,427 796,058 197,155 162,160 1,436,800 3,111,457 Non-remunerated deposits 82,250,159 - - - 82,250,159 74,819,401 Demand deposits 82,244,851 - - - 82,244,851 74,816,713 Other deposits 5,308 - - - 5,308 2,688 Total 270,173,479 40,385,355 23,552,691 156,726,486 490,838,011 454,551,571 % per maturity data 55.1 8.2 4.8 31.9 100.0 Total – 09/30/2018 247,087,920 32,010,264 22,034,677 153,418,710 454,551,571 % per maturity date 54.4 7.0 4.8 33.8 100.0 In ITAÚ UNIBANCO HOLDING, the portfolio is composed of Interbank Deposits with maturity within 31 to 180 days (R$ 6,123,443 at 09/30/2018) and over 365 days (R$ 7,859,450 at 09/30/2018), totaling (R$ 13,982,893 at 09/30/2018) and Demand deposits with maturity within 0 to 30 days amouting to R$ 27,104 (R$ 14,056,529 at 09/30/2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 92

c) Deposits received under securities repurchase agreements 09/30/2019 09/30/2018 Over 365 0 - 30 31 - 180 181 - 365 Total Total days 53,164,945 1,520,036 1,912,891 3,510,570 60,108,442 53,694,725 Own portfolio 42,206,172 4,635 - - 42,210,807 17,742,691 Government securities Corporate Securities 10,126,630 - - - 10,126,630 5,849,316 Own issue 396,145 1,409,355 1,331,895 3,354,154 6,491,549 29,471,640 435,998 106,046 580,996 156,416 1,279,456 631,078 Foreign Third-party portfolio 181,098,933 - - - 181,098,933 189,685,299 6,626,898 725,607 405,706 47,537,257 55,295,468 71,195,250 Free portfolio 240,890,776 2,245,643 2,318,597 51,047,827 296,502,843 314,575,274 Total % per maturity date 81.2 0.8 0.8 17.2 100.0 229,868,409 10,935,865 11,836,027 61,934,973 314,575,274 Total – 09/30/2018 73.0 3.5 3.8 19.7 100.0 % per maturity date Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 93 c) Deposits received under securities repurchase agreements 09/30/2019 09/30/2018 Over 365 0 - 30 31 - 180 181 - 365 Total Total days 53,164,945 1,520,036 1,912,891 3,510,570 60,108,442 53,694,725 Own portfolio 42,206,172 4,635 - - 42,210,807 17,742,691 Government securities Corporate Securities 10,126,630 - - - 10,126,630 5,849,316 Own issue 396,145 1,409,355 1,331,895 3,354,154 6,491,549 29,471,640 435,998 106,046 580,996 156,416 1,279,456 631,078 Foreign Third-party portfolio 181,098,933 - - - 181,098,933 189,685,299 6,626,898 725,607 405,706 47,537,257 55,295,468 71,195,250 Free portfolio 240,890,776 2,245,643 2,318,597 51,047,827 296,502,843 314,575,274 Total % per maturity date 81.2 0.8 0.8 17.2 100.0 229,868,409 10,935,865 11,836,027 61,934,973 314,575,274 Total – 09/30/2018 73.0 3.5 3.8 19.7 100.0 % per maturity date Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 93

d) Funds from acceptance and issuance of securities 09/30/2019 09/30/2018 0-30 31-180 181-365 Over 365 days Total Total Real estate, mortgage, credit and similar notes 1,365,037 18,241,999 22,791,397 41,565,030 83,963,463 71,256,678 47,056 6,080,893 12,982,376 31,259,781 50,370,106 42,245,239 Financial bills Real estate credit bills 427,642 7,344,362 788,527 777,043 9,337,574 10,873,309 890,339 4,816,744 9,020,494 6,566,806 21,294,383 18,138,130 Rural credit bills Guaranteed real estate bills - - - 2,961,400 2,961,400 - 2,210,380 2,158,491 3,277,115 37,797,347 45,443,333 44,326,791 Securities obligations abroad - 712,572 243,338 4,478,295 5,434,205 3,337,301 Brazil risk note programme Structure note issued 98,122 963,118 734,756 3,891,106 5,687,102 5,682,217 161,360 20,308 2,296,891 23,627,949 26,106,508 27,250,616 Bonds Fixed rate notes 20,126 425,938 - 4,825,734 5,271,798 5,064,645 50,038 24,388 - 12,933 87,359 12,381 Eurobonds Mortgage notes 301 12,167 2,130 224,975 239,573 330,087 1,880,433 - - 736,355 2,616,788 2,649,544 Other (*) 10,695 403,300 371,972 690,666 1,476,633 3,100,907 Funding from Structured Operations Certificates 3,586,112 20,803,790 26,440,484 80,053,043 130,883,429 118,684,376 Total % per maturity date 2.7 15.9 20.2 61.2 100.0 Total – 09/30/2018 5,086,633 15,639,171 19,225,895 78,732,677 118,684,376 4.3 13.2 16.2 66.3 100.0 % per maturity date (*) As of 09/30/2019, the market value of the funding from Structured Operations Certificates issued is R$ 1,609,373 (R$ 3,203,492 at 09/30/2018). ITAÚ UNIBANCO HOLDING’s portfolio is composed of Brazil Risk Note Programme with maturities of 31 days to 180 days, with no amount as of that date (R$ 108,490 at 09/30/2018). Guaranteed Real Estate Notes Guaranteed Real Estate Bills (LIGs) are registered, transferrable and free trade credit securities, that are guaranteed by asset portfolio of the issuer itself, submitted to the fiduciary system. The “Instrument of LIG Issue”, which details the conditions of LIG transactions, is available on the website www.itau.com.br/relacoes-com-investidores , section Menu / Relatórios / Letra Imobiliária Garantida (LIG). I – Breakdown of Asset Portfolio The asset portfolio linked to LIGs corresponds to 0.19% of ITAÚ UNIBANCO HOLDING CONSOLIDATED’s total assets. Its composition is presented in the table below. Further details are available in the Statement of Asset Portfolio – SAP, in section Menu / Relatórios / Letra Imobiliária Garantida (LIG). 09/30/2019 Real state loans 2,963,693 Government securities - Brazil 342,636 Total asset portfolio 3,306,329 Total adjusted asset portfolio 3,306,329 Liabilities for issue of LIGs 2,961,400 Remuneration of the Fiduciary Agent 284 II - Requirements of asset portfolio 09/30/2019 Breakdown 89.6% Sufficiency Notional amount 111.6% Present value under stress 116.1% Weighted average term Of the asset portfolio 91.5 monthly Of outstandings LIGs 31.3 monthly Liquidity Net assets 342,636 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 94 d) Funds from acceptance and issuance of securities 09/30/2019 09/30/2018 0-30 31-180 181-365 Over 365 days Total Total Real estate, mortgage, credit and similar notes 1,365,037 18,241,999 22,791,397 41,565,030 83,963,463 71,256,678 47,056 6,080,893 12,982,376 31,259,781 50,370,106 42,245,239 Financial bills Real estate credit bills 427,642 7,344,362 788,527 777,043 9,337,574 10,873,309 890,339 4,816,744 9,020,494 6,566,806 21,294,383 18,138,130 Rural credit bills Guaranteed real estate bills - - - 2,961,400 2,961,400 - 2,210,380 2,158,491 3,277,115 37,797,347 45,443,333 44,326,791 Securities obligations abroad - 712,572 243,338 4,478,295 5,434,205 3,337,301 Brazil risk note programme Structure note issued 98,122 963,118 734,756 3,891,106 5,687,102 5,682,217 161,360 20,308 2,296,891 23,627,949 26,106,508 27,250,616 Bonds Fixed rate notes 20,126 425,938 - 4,825,734 5,271,798 5,064,645 50,038 24,388 - 12,933 87,359 12,381 Eurobonds Mortgage notes 301 12,167 2,130 224,975 239,573 330,087 1,880,433 - - 736,355 2,616,788 2,649,544 Other (*) 10,695 403,300 371,972 690,666 1,476,633 3,100,907 Funding from Structured Operations Certificates 3,586,112 20,803,790 26,440,484 80,053,043 130,883,429 118,684,376 Total % per maturity date 2.7 15.9 20.2 61.2 100.0 Total – 09/30/2018 5,086,633 15,639,171 19,225,895 78,732,677 118,684,376 4.3 13.2 16.2 66.3 100.0 % per maturity date (*) As of 09/30/2019, the market value of the funding from Structured Operations Certificates issued is R$ 1,609,373 (R$ 3,203,492 at 09/30/2018). ITAÚ UNIBANCO HOLDING’s portfolio is composed of Brazil Risk Note Programme with maturities of 31 days to 180 days, with no amount as of that date (R$ 108,490 at 09/30/2018). Guaranteed Real Estate Notes Guaranteed Real Estate Bills (LIGs) are registered, transferrable and free trade credit securities, that are guaranteed by asset portfolio of the issuer itself, submitted to the fiduciary system. The “Instrument of LIG Issue”, which details the conditions of LIG transactions, is available on the website www.itau.com.br/relacoes-com-investidores , section Menu / Relatórios / Letra Imobiliária Garantida (LIG). I – Breakdown of Asset Portfolio The asset portfolio linked to LIGs corresponds to 0.19% of ITAÚ UNIBANCO HOLDING CONSOLIDATED’s total assets. Its composition is presented in the table below. Further details are available in the Statement of Asset Portfolio – SAP, in section Menu / Relatórios / Letra Imobiliária Garantida (LIG). 09/30/2019 Real state loans 2,963,693 Government securities - Brazil 342,636 Total asset portfolio 3,306,329 Total adjusted asset portfolio 3,306,329 Liabilities for issue of LIGs 2,961,400 Remuneration of the Fiduciary Agent 284 II - Requirements of asset portfolio 09/30/2019 Breakdown 89.6% Sufficiency Notional amount 111.6% Present value under stress 116.1% Weighted average term Of the asset portfolio 91.5 monthly Of outstandings LIGs 31.3 monthly Liquidity Net assets 342,636 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 94

e) Borrowing and onlending 09/30/2019 09/30/2018 0-30 31-180 181-365 Over 365 days Total Total Borrowing 11,076,518 24,091,234 24,000,293 5,355,696 64,523,741 48,240,226 In Brazil 2,376,207 - - 1,664 2,377,871 1,960,005 (*) Foreign 8,700,311 24,091,234 24,000,293 5,354,032 62,145,870 46,280,221 Onlending - In Brazil – official institutions 6,665,452 724,627 910,098 4,945,860 13,246,037 19,017,480 BNDES 4,007,794 101,975 149,500 1,779,539 6,038,808 8,739,949 FINAME 2,633,866 551,588 604,685 2,682,499 6,472,638 9,580,355 Other 23,792 71,064 155,913 483,822 734,591 697,176 Total 17,741,970 24,815,861 24,910,391 10,301,556 77,769,778 67,257,706 % per maturity date 22.8 31.9 32.0 13.3 100.0 Total – 09/30/2018 8,694,344 19,068,938 18,596,936 20,897,488 67,257,706 % per maturity date 12.9 28.4 27.7 31.0 100.0 (*) Foreign borrowing are basically represented by foreign exchange trade transactions relating to export pre-financing and import financing. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 95 e) Borrowing and onlending 09/30/2019 09/30/2018 0-30 31-180 181-365 Over 365 days Total Total Borrowing 11,076,518 24,091,234 24,000,293 5,355,696 64,523,741 48,240,226 In Brazil 2,376,207 - - 1,664 2,377,871 1,960,005 (*) Foreign 8,700,311 24,091,234 24,000,293 5,354,032 62,145,870 46,280,221 Onlending - In Brazil – official institutions 6,665,452 724,627 910,098 4,945,860 13,246,037 19,017,480 BNDES 4,007,794 101,975 149,500 1,779,539 6,038,808 8,739,949 FINAME 2,633,866 551,588 604,685 2,682,499 6,472,638 9,580,355 Other 23,792 71,064 155,913 483,822 734,591 697,176 Total 17,741,970 24,815,861 24,910,391 10,301,556 77,769,778 67,257,706 % per maturity date 22.8 31.9 32.0 13.3 100.0 Total – 09/30/2018 8,694,344 19,068,938 18,596,936 20,897,488 67,257,706 % per maturity date 12.9 28.4 27.7 31.0 100.0 (*) Foreign borrowing are basically represented by foreign exchange trade transactions relating to export pre-financing and import financing. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 95

f) Subordinated debt, including perpetual debts 09/30/2019 09/30/2018 0-30 31-180 181-365 Over 365 Total Total Financial treasury bills - 52,113 - 4,939,671 days 4,991,784 7,556,263 Euronotes - - 4,271,441 28,668,087 32,939,528 31,761,697 (-) Transaction costs incurred (Note 3b) - - (1,434) ( 28,362) ( 29,796) ( 41,586) Bonds - - - 6,044,219 6,044,219 6,459,026 Debt instruments eligible as capital - - - 11,513,064 11,513,064 7,985,434 Grand total - 52,113 4,270,007 51,136,679 55,458,799 53,720,834 % per maturity date 0.0 0.1 7.7 92.2 100.0 Total – 09/30/2018 2,210,002 754,268 320,630 50,435,934 53,720,834 % per maturity date 4.1 1.4 0.6 93.9 100.0 ITAÚ UNIBANCO HOLDING’s portfolio is composed of Subordinated Euronotes with maturity within 181 to 365 days amounting to R$ 4,281,011 and over 365 days amounting to R$ 28,741,182 (R$ 31,734,479 at 09/30/2018), totaling R$ 33,022,193 (R$ 31,734,479 at 09/30/2018) and Debt Instruments Eligible as Capital with maturities over 365 days amounting to R$ 11,513,064 (R$ 7,985,434 at 09/30/2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 96 f) Subordinated debt, including perpetual debts 09/30/2019 09/30/2018 0-30 31-180 181-365 Over 365 Total Total Financial treasury bills - 52,113 - 4,939,671 days 4,991,784 7,556,263 Euronotes - - 4,271,441 28,668,087 32,939,528 31,761,697 (-) Transaction costs incurred (Note 3b) - - (1,434) ( 28,362) ( 29,796) ( 41,586) Bonds - - - 6,044,219 6,044,219 6,459,026 Debt instruments eligible as capital - - - 11,513,064 11,513,064 7,985,434 Grand total - 52,113 4,270,007 51,136,679 55,458,799 53,720,834 % per maturity date 0.0 0.1 7.7 92.2 100.0 Total – 09/30/2018 2,210,002 754,268 320,630 50,435,934 53,720,834 % per maturity date 4.1 1.4 0.6 93.9 100.0 ITAÚ UNIBANCO HOLDING’s portfolio is composed of Subordinated Euronotes with maturity within 181 to 365 days amounting to R$ 4,281,011 and over 365 days amounting to R$ 28,741,182 (R$ 31,734,479 at 09/30/2018), totaling R$ 33,022,193 (R$ 31,734,479 at 09/30/2018) and Debt Instruments Eligible as Capital with maturities over 365 days amounting to R$ 11,513,064 (R$ 7,985,434 at 09/30/2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 96

Description Principal amount Name of security / currency Issue Maturity Return p.a. Account balance (original currency) Subordinated financial bills - BRL (*) 1,000 2011 2019 109% of CDI 2,197 1,000 2012 2020 111% of CDI 2,219 20,000 IPCA + 6% to 6.17% 47,697 6,000 2011 2021 109.25% to 110.5% of CDI 13,833 2,306,500 2012 2022 IPCA + 5.15% to 5.83% 4,896,472 20,000 IGPM + 4.63% 29,366 Total 4,991,784 (*) Subordinated euronotes - USD 1,000,000 2010 2020 6.2% 4,270,007 1,000,000 2021 5.75% 4,214,882 750,000 2011 2021 5.75% to 6.2% 3,201,736 550,000 2012 2021 6.2% 2,290,420 2,625,000 2022 5.5% to 5.65% 10,978,932 1,870,000 2023 5.13% 7,928,645 20,000 2017 6.12% 16,830 10,000 2018 6.5% 8,280 Total 32,909,732 Subordinated bonds - CLP 27,775,680 1997 2022 95,945 7.45% to 8.30% 177,559,956 2008 2033 3.50% to 4.92% 1,161,269 97,962,123 2009 2035 4.75% 851,304 1,060,249,500 2010 2032 4.35% 82,799 1,060,249,500 2035 3.90% to 3.96% 190,549 1,060,249,500 2036 4.48% 906,779 1,060,249,500 2038 3.9% 660,512 1,060,249,500 2040 4.15% to 4.29% 508,594 1,060,249,500 2042 4.45% 248,008 46,625,140 2014 2034 3.8% 323,388 Total 5,029,147 104,000 2013 2023 IPC + 2% 129,236 Subordinated bonds - COP 146,000 2028 IPC + 2% 176,880 510,107 2014 2024 LIB 708,956 Total 1,015,072 Debt instruments eligible as capital - USD 1,230,000 2017 Perpetual 6.12% 5,217,204 740,000 2018 Perpetual 6.5% 3,088,333 Total 8,305,537 2,125,100 2019 Perpetual 2,233,234 Debt instruments eligible as capital - BRL 114% of SELIC 924,900 SELIC + 1.17% to 1.19% 974,293 Total 3,207,527 Total 55,458,799 (*) Reference Equity on September 30, 2019 includes subordinated debts approved by BACEN prior to Resolution 4,192, of March 1, 2013, in the amount of R$ 37,576,306. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 97 Description Principal amount Name of security / currency Issue Maturity Return p.a. Account balance (original currency) Subordinated financial bills - BRL (*) 1,000 2011 2019 109% of CDI 2,197 1,000 2012 2020 111% of CDI 2,219 20,000 IPCA + 6% to 6.17% 47,697 6,000 2011 2021 109.25% to 110.5% of CDI 13,833 2,306,500 2012 2022 IPCA + 5.15% to 5.83% 4,896,472 20,000 IGPM + 4.63% 29,366 Total 4,991,784 (*) Subordinated euronotes - USD 1,000,000 2010 2020 6.2% 4,270,007 1,000,000 2021 5.75% 4,214,882 750,000 2011 2021 5.75% to 6.2% 3,201,736 550,000 2012 2021 6.2% 2,290,420 2,625,000 2022 5.5% to 5.65% 10,978,932 1,870,000 2023 5.13% 7,928,645 20,000 2017 6.12% 16,830 10,000 2018 6.5% 8,280 Total 32,909,732 Subordinated bonds - CLP 27,775,680 1997 2022 95,945 7.45% to 8.30% 177,559,956 2008 2033 3.50% to 4.92% 1,161,269 97,962,123 2009 2035 4.75% 851,304 1,060,249,500 2010 2032 4.35% 82,799 1,060,249,500 2035 3.90% to 3.96% 190,549 1,060,249,500 2036 4.48% 906,779 1,060,249,500 2038 3.9% 660,512 1,060,249,500 2040 4.15% to 4.29% 508,594 1,060,249,500 2042 4.45% 248,008 46,625,140 2014 2034 3.8% 323,388 Total 5,029,147 104,000 2013 2023 IPC + 2% 129,236 Subordinated bonds - COP 146,000 2028 IPC + 2% 176,880 510,107 2014 2024 LIB 708,956 Total 1,015,072 Debt instruments eligible as capital - USD 1,230,000 2017 Perpetual 6.12% 5,217,204 740,000 2018 Perpetual 6.5% 3,088,333 Total 8,305,537 2,125,100 2019 Perpetual 2,233,234 Debt instruments eligible as capital - BRL 114% of SELIC 924,900 SELIC + 1.17% to 1.19% 974,293 Total 3,207,527 Total 55,458,799 (*) Reference Equity on September 30, 2019 includes subordinated debts approved by BACEN prior to Resolution 4,192, of March 1, 2013, in the amount of R$ 37,576,306. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 97

Note 8 - Insurance, private pension plan and capitalization operations In ITAÚ UNIBANCO HOLDING CONSOLIDATED, insurance premiums, coinsurance accepted and selling expenses are accounted for on the issue of the insurance policy or over the life of the insurance cover, through the recognition or reversal of provision for unearned premiums and deferred selling expenses. Interest arising from insurance premiums paid in installments is accounted for as incurred. Revenues from pension contributions, gross revenue from premium bonds and the respective technical provisions are recognized upon receipt. Technical provisions are aimed at reducing the risks involved in insurance contracts, private pension plans and capitalization, and are recognized according to the technical notes approved by SUSEP. I - Insurance and private pension plan: · Provision for unearned premiums (PPNG) – this provision is set up on insurance premiums, to cover amounts payable for future claims and expenses. In the calculation, the 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 is taken pro rata on a daily basis; · Provision for unsettled claims (PSL) - this provision is to cover expected amounts for reported and unpaid claims, including administrative and judicial claims. It includes amounts related to indemnities, reserve funds and past-due income, all gross of reinsurance operations and net of coinsurance operations. When necessary, it must cover adjustments for IBNER (claims incurred but not sufficiently reported) for the total of claims reported but not yet paid, a total which may change during the process up to final settlement; · Provision for claims incurred and not reported (IBNR) - this provision is recognized for the coverage of expected amounts for settlement of 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 provisions of the contract, while the event that gives rise to the benefit and/or indemnity has not occurred; · Mathematical provisions for granted benefits (PMBC) - recognized for the coverage of commitments to pay indemnities and/or benefits to participants or insured parties, based on the provisions of the contract, after the event has occurred; · Provision for financial surplus (PEF) - it is recognized to guarantee amounts intended for the distribution of financial surplus, if provided for in the contract. 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, as provided for in the regulations; · Provision for redemptions and other amounts to be regularized (PVR) - this provision is recognized for the coverage of amounts related to redemptions to be regularized, returned premiums or funds, transfers requested but, for any reason, not yet transferred to the recipient insurance company or open private pension entity, 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 or will occur. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 98 Note 8 - Insurance, private pension plan and capitalization operations In ITAÚ UNIBANCO HOLDING CONSOLIDATED, insurance premiums, coinsurance accepted and selling expenses are accounted for on the issue of the insurance policy or over the life of the insurance cover, through the recognition or reversal of provision for unearned premiums and deferred selling expenses. Interest arising from insurance premiums paid in installments is accounted for as incurred. Revenues from pension contributions, gross revenue from premium bonds and the respective technical provisions are recognized upon receipt. Technical provisions are aimed at reducing the risks involved in insurance contracts, private pension plans and capitalization, and are recognized according to the technical notes approved by SUSEP. I - Insurance and private pension plan: · Provision for unearned premiums (PPNG) – this provision is set up on insurance premiums, to cover amounts payable for future claims and expenses. In the calculation, the 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 is taken pro rata on a daily basis; · Provision for unsettled claims (PSL) - this provision is to cover expected amounts for reported and unpaid claims, including administrative and judicial claims. It includes amounts related to indemnities, reserve funds and past-due income, all gross of reinsurance operations and net of coinsurance operations. When necessary, it must cover adjustments for IBNER (claims incurred but not sufficiently reported) for the total of claims reported but not yet paid, a total which may change during the process up to final settlement; · Provision for claims incurred and not reported (IBNR) - this provision is recognized for the coverage of expected amounts for settlement of 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 provisions of the contract, while the event that gives rise to the benefit and/or indemnity has not occurred; · Mathematical provisions for granted benefits (PMBC) - recognized for the coverage of commitments to pay indemnities and/or benefits to participants or insured parties, based on the provisions of the contract, after the event has occurred; · Provision for financial surplus (PEF) - it is recognized to guarantee amounts intended for the distribution of financial surplus, if provided for in the contract. 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, as provided for in the regulations; · Provision for redemptions and other amounts to be regularized (PVR) - this provision is recognized for the coverage of amounts related to redemptions to be regularized, returned premiums or funds, transfers requested but, for any reason, not yet transferred to the recipient insurance company or open private pension entity, 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 or will occur. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 98

II - Capitalization: · Mathematical provision for capitalization (PMC) - recognized until the event triggering the benefit occurs, and covers of the portion of the amounts collected for capitalization; · Provision for redemption (PR) - recognized from the date of the event triggering the redemption of the certificate and/or the event triggering the distribution of the bonus until the date of financial settlement, or the date on which the evidence of payment of the obligation is received; · Provision for prize draws to be held (PSR) - recognized for each bond for which prize draws have been funded, but which, on the recognition date, had not yet been held; · Provision for prize draws payable (PSP) - recognized from the date when a prize draw is held until the date of financial settlement, or the date when the evidence of payment of the obligation is received; · Supplementary provision for prize draws (PCS) - recognized to supplement the provision for prize draws to be held. Used for coverage of possible shortfall on the expected amount of prize draws to be held; · Provision for administrative expenses (PDA) - recognized for the coverage of the expected amounts of administrative expenses for the capitalization plans. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 99 II - Capitalization: · Mathematical provision for capitalization (PMC) - recognized until the event triggering the benefit occurs, and covers of the portion of the amounts collected for capitalization; · Provision for redemption (PR) - recognized from the date of the event triggering the redemption of the certificate and/or the event triggering the distribution of the bonus until the date of financial settlement, or the date on which the evidence of payment of the obligation is received; · Provision for prize draws to be held (PSR) - recognized for each bond for which prize draws have been funded, but which, on the recognition date, had not yet been held; · Provision for prize draws payable (PSP) - recognized from the date when a prize draw is held until the date of financial settlement, or the date when the evidence of payment of the obligation is received; · Supplementary provision for prize draws (PCS) - recognized to supplement the provision for prize draws to be held. Used for coverage of possible shortfall on the expected amount of prize draws to be held; · Provision for administrative expenses (PDA) - recognized for the coverage of the expected amounts of administrative expenses for the capitalization plans. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 99

a) Composition of the technical provisions Insurance Pension plan Capitalization Total 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Unearned premiums (PPNG) 2,380,637 2,085,315 12,662 13,539 - - 2,393,299 2,098,854 Mathematical provision of benefits to be granted (PMBAC) and benefits granted (PMBC) 210,884 204,584 207,509,679 188,881,264 - - 207,720,563 189,085,848 Redemptions and other unsettled amounts (PVR) 13,138 12,035 336,495 280,498 - - 349,633 292,533 Financial surplus (PEF) 1,940 1,909 612,663 589,697 - - 614,603 591,606 Unsettled claims (PSL) 594,596 547,721 50,159 45,905 - - 644,755 593,626 Claims / events incurred but not reported (IBNR) 277,288 349,025 24,241 25,759 - - 301,529 374,784 Administrative (PDA) and related expenses (PDR) 30,065 27,676 106,461 102,473 4,117 8,375 140,643 138,524 Mathematical provision for capitalization (PMC) and redemption (PR) - - - - 3,504,021 3,358,877 3,504,021 3,358,877 Prize draws payable (PSP) and to be held (PSR) - - - - 13,128 14,552 13,128 14,552 Other provisions 135,789 134,216 242,080 64,284 176 191 378,045 198,691 Total technical provisions (a) 3,644,337 3,362,481 208,894,440 190,003,419 3,521,442 3,381,995 216,060,219 196,747,895 b) Assets guaranteeing technical provisions Insurance Pension plan Capitalization Total 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Short-term Interbank investments – money market 428,743 714,331 639,906 814,589 947,825 1,412,060 2,016,474 2,940,980 2,340,966 2,029,787 210,521,990 190,237,048 2,771,602 2,161,054 215,634,558 194,427,889 Securities and derivative financial instruments (1) PGBL / VGBL fund quotas - - 199,923,581 181,627,600 - - 199,923,581 181,627,600 Government securities - Brazil - - 168,865,595 154,811,690 - - 168,865,595 154,811,690 National treasury bills, Financial treasury bills and National treasury notes - - 152,548,257 141,345,181 - - 152,548,257 141,345,181 Repurchase agreements - - 16,317,338 13,466,509 - - 16,317,338 13,466,509 - - 28,924,868 25,688,020 - - 28,924,868 25,688,020 Corporate securities Shares, Repurchase Agreements, Debentures, Bank Deposit Certificates and - - 11,415,798 6,764,788 - - 11,415,798 6,764,788 Promissory Notes Financial treasury bills - - 17,497,518 18,923,232 - - 17,497,518 18,923,232 Other - - 11,552 - - - 11,552 - PGBL / VGBL fund quotas - - 2,352,224 863,977 - - 2,352,224 863,977 (2) Other Bonds - - (219,106) 263,913 - - (219,106) 263,913 2,340,966 2,029,787 10,598,409 8,609,448 2,771,602 2,161,054 15,710,977 12,800,289 Other government securities and private securities (3) 1,055,098 1,148,481 - - - - 1,055,098 1,148,481 Receivables from insurance and reinsurance operations Credit rights 850,203 1,008,773 - - - - 850,203 1,008,773 Other credit 204,895 139,708 - - - - 204,895 139,708 Total Guarantee Assets (b) 3,824,807 3,892,599 211,161,896 191,051,637 3,719,427 3,573,114 218,706,130 198,517,350 Total Excess Coverage (b-a) 180,470 530,118 2,267,456 1,048,218 197,985 191,119 2,645,911 1,769,455 (1) The PGBL and VGBL plans securities portfolios, the ownership and embedded risks of which are the customer’s responsibility, are recorded as securities – trading securities, with a counter-entry to lliabilitie in Pension plan technical provision accounts (Note 8a); (2) Includes Derivative financial instruments, Share Loans and Accounts Receivable/Payable; (3) Recorded under Other receivables and Other assets. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 100 a) Composition of the technical provisions Insurance Pension plan Capitalization Total 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Unearned premiums (PPNG) 2,380,637 2,085,315 12,662 13,539 - - 2,393,299 2,098,854 Mathematical provision of benefits to be granted (PMBAC) and benefits granted (PMBC) 210,884 204,584 207,509,679 188,881,264 - - 207,720,563 189,085,848 Redemptions and other unsettled amounts (PVR) 13,138 12,035 336,495 280,498 - - 349,633 292,533 Financial surplus (PEF) 1,940 1,909 612,663 589,697 - - 614,603 591,606 Unsettled claims (PSL) 594,596 547,721 50,159 45,905 - - 644,755 593,626 Claims / events incurred but not reported (IBNR) 277,288 349,025 24,241 25,759 - - 301,529 374,784 Administrative (PDA) and related expenses (PDR) 30,065 27,676 106,461 102,473 4,117 8,375 140,643 138,524 Mathematical provision for capitalization (PMC) and redemption (PR) - - - - 3,504,021 3,358,877 3,504,021 3,358,877 Prize draws payable (PSP) and to be held (PSR) - - - - 13,128 14,552 13,128 14,552 Other provisions 135,789 134,216 242,080 64,284 176 191 378,045 198,691 Total technical provisions (a) 3,644,337 3,362,481 208,894,440 190,003,419 3,521,442 3,381,995 216,060,219 196,747,895 b) Assets guaranteeing technical provisions Insurance Pension plan Capitalization Total 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Short-term Interbank investments – money market 428,743 714,331 639,906 814,589 947,825 1,412,060 2,016,474 2,940,980 2,340,966 2,029,787 210,521,990 190,237,048 2,771,602 2,161,054 215,634,558 194,427,889 Securities and derivative financial instruments (1) PGBL / VGBL fund quotas - - 199,923,581 181,627,600 - - 199,923,581 181,627,600 Government securities - Brazil - - 168,865,595 154,811,690 - - 168,865,595 154,811,690 National treasury bills, Financial treasury bills and National treasury notes - - 152,548,257 141,345,181 - - 152,548,257 141,345,181 Repurchase agreements - - 16,317,338 13,466,509 - - 16,317,338 13,466,509 - - 28,924,868 25,688,020 - - 28,924,868 25,688,020 Corporate securities Shares, Repurchase Agreements, Debentures, Bank Deposit Certificates and - - 11,415,798 6,764,788 - - 11,415,798 6,764,788 Promissory Notes Financial treasury bills - - 17,497,518 18,923,232 - - 17,497,518 18,923,232 Other - - 11,552 - - - 11,552 - PGBL / VGBL fund quotas - - 2,352,224 863,977 - - 2,352,224 863,977 (2) Other Bonds - - (219,106) 263,913 - - (219,106) 263,913 2,340,966 2,029,787 10,598,409 8,609,448 2,771,602 2,161,054 15,710,977 12,800,289 Other government securities and private securities (3) 1,055,098 1,148,481 - - - - 1,055,098 1,148,481 Receivables from insurance and reinsurance operations Credit rights 850,203 1,008,773 - - - - 850,203 1,008,773 Other credit 204,895 139,708 - - - - 204,895 139,708 Total Guarantee Assets (b) 3,824,807 3,892,599 211,161,896 191,051,637 3,719,427 3,573,114 218,706,130 198,517,350 Total Excess Coverage (b-a) 180,470 530,118 2,267,456 1,048,218 197,985 191,119 2,645,911 1,769,455 (1) The PGBL and VGBL plans securities portfolios, the ownership and embedded risks of which are the customer’s responsibility, are recorded as securities – trading securities, with a counter-entry to lliabilitie in Pension plan technical provision accounts (Note 8a); (2) Includes Derivative financial instruments, Share Loans and Accounts Receivable/Payable; (3) Recorded under Other receivables and Other assets. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 100

c) Financial and operating income Insurance Pension plan Capitalization Total 01/01 to 09/30/2019 01/01 to 09/30/2018 01/01 to 09/30/2019 01/01 to 09/30/2018 01/01 to 01/01 to 01/01 to 01/01 to Direct Reinsurance Withheld Direct Reinsurance Withheld 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Direct Reinsurance Withheld Direct Reinsurance Withheld Financial income 121,568 - 121,568 74,927 - 74,927 296,290 - 296,290 303,132 - 303,132 48,214 18,296 466,072 396,355 Financial revenues 134,629 - 134,629 89,269 - 89,269 13,073,120 - 13,073,120 7,261,341 - 7,261,341 191,605 148,723 13,399,354 7,499,333 Financial expenses (1 3,061) - (13,061) (14,342) - (1 4,342) (1 2,776,830) - (12,776,830) (6,958,209) - (6,958,209) (1 43,391) (130,427) (12,933,282) (7,102,978) Operating income 2,237,537 6,772 2,244,309 1,984,280 9,251 1,993,531 59,566 777 60,343 356,111 (2,950) 353,161 340,867 358,947 2,645,519 2,705,639 Revenues from premiums and contributions 3,543,981 (19,591) 3,524,390 3,260,913 (9,458) 3,251,455 10,577,471 (1,929) 10,575,542 14,586,191 (2,950) 14,583,241 1,936,683 1,979,831 16,036,615 19,814,527 Changes in technical provisions (2 78,740) 3,007 (275,733) (224,519) 1,170 (2 23,349) (1 0,438,301) - (10,438,301) (14,169,741) - (14,169,741) 2,703 2,993 (10,711,331) (14,390,097) Expenses with claims, benefits, redemptions and prize draws (9 88,612) 23,117 (965,495) (951,481) 17,442 (934,039) (7 5,659) 2,706 (72,953) (55,486) - (55,486) (1 ,605,416) (1,624,991) (2,643,864) (2,614,516) Selling expenses (1 6,635) 239 (16,396) (48,287) 97 (48,190) (2 ,978) - (2,978) (2,767) - (2,767) (3,751) (3,551) (23,125) (54,508) Other operating revenues and expenses (2 2,457) - (22,457) (52,346) - (5 2,346) (9 67) - (967) (2,086) - (2,086) 10,648 4,665 (12,776) (49,767) Total income 2,359,105 6,772 2,365,877 2,059,207 9,251 2,068,458 355,856 777 356,633 659,243 (2,950) 656,293 389,081 377,243 3,111,591 3,101,994 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 101 c) Financial and operating income Insurance Pension plan Capitalization Total 01/01 to 09/30/2019 01/01 to 09/30/2018 01/01 to 09/30/2019 01/01 to 09/30/2018 01/01 to 01/01 to 01/01 to 01/01 to Direct Reinsurance Withheld Direct Reinsurance Withheld 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Direct Reinsurance Withheld Direct Reinsurance Withheld Financial income 121,568 - 121,568 74,927 - 74,927 296,290 - 296,290 303,132 - 303,132 48,214 18,296 466,072 396,355 Financial revenues 134,629 - 134,629 89,269 - 89,269 13,073,120 - 13,073,120 7,261,341 - 7,261,341 191,605 148,723 13,399,354 7,499,333 Financial expenses (1 3,061) - (13,061) (14,342) - (1 4,342) (1 2,776,830) - (12,776,830) (6,958,209) - (6,958,209) (1 43,391) (130,427) (12,933,282) (7,102,978) Operating income 2,237,537 6,772 2,244,309 1,984,280 9,251 1,993,531 59,566 777 60,343 356,111 (2,950) 353,161 340,867 358,947 2,645,519 2,705,639 Revenues from premiums and contributions 3,543,981 (19,591) 3,524,390 3,260,913 (9,458) 3,251,455 10,577,471 (1,929) 10,575,542 14,586,191 (2,950) 14,583,241 1,936,683 1,979,831 16,036,615 19,814,527 Changes in technical provisions (2 78,740) 3,007 (275,733) (224,519) 1,170 (2 23,349) (1 0,438,301) - (10,438,301) (14,169,741) - (14,169,741) 2,703 2,993 (10,711,331) (14,390,097) Expenses with claims, benefits, redemptions and prize draws (9 88,612) 23,117 (965,495) (951,481) 17,442 (934,039) (7 5,659) 2,706 (72,953) (55,486) - (55,486) (1 ,605,416) (1,624,991) (2,643,864) (2,614,516) Selling expenses (1 6,635) 239 (16,396) (48,287) 97 (48,190) (2 ,978) - (2,978) (2,767) - (2,767) (3,751) (3,551) (23,125) (54,508) Other operating revenues and expenses (2 2,457) - (22,457) (52,346) - (5 2,346) (9 67) - (967) (2,086) - (2,086) 10,648 4,665 (12,776) (49,767) Total income 2,359,105 6,772 2,365,877 2,059,207 9,251 2,068,458 355,856 777 356,633 659,243 (2,950) 656,293 389,081 377,243 3,111,591 3,101,994 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 101

Note 9 - Contingent Assets and Liabilities, Provisions and Legal Obligations In the ordinary course of its business, ITAÚ UNIBANCO HOLDING CONSOLIDATED may be a party to legal proceedings to 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. 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 material and moral damages. 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 calculated 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 into court as guarantee for their execution when realized. Individual lawsuits: Related to claims with unusual characteristics or involving significant amounts. The probability of loss is ascertained periodically, based on the amount claimed and the special nature of each case. The amounts considered as probable losses are recorded as provisions. ITAÚ UNIBANCO HOLDING CONSOLIDATED, despite having complied with the rules in force at the time, is a defendant in lawsuits filed by individuals referring to payment of inflation adjustments to savings accounts resulting from economic plants implemented in the 1980s and the 1990s, 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 CONSOLIDATED recognizes provisions upon receipt of summons, and when individuals demand the enforcement of a ruling handed down by the courts, using the same criteria as for 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, by order of the STF, until it pronounces its 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 the economic plans, and ITAÚ UNIBANCO HOLDING CONSOLIDATED has already accepted its terms. The agreement was approved on March 1, 2018, at a Plenary Session on the Federal Supreme Court (STF), with the legal actions accordingly being cancelled. Savers have 24 months from May 22, 2018 to accept the settlement. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 102 Note 9 - Contingent Assets and Liabilities, Provisions and Legal Obligations In the ordinary course of its business, ITAÚ UNIBANCO HOLDING CONSOLIDATED may be a party to legal proceedings to 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. 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 material and moral damages. 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 calculated 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 into court as guarantee for their execution when realized. Individual lawsuits: Related to claims with unusual characteristics or involving significant amounts. The probability of loss is ascertained periodically, based on the amount claimed and the special nature of each case. The amounts considered as probable losses are recorded as provisions. ITAÚ UNIBANCO HOLDING CONSOLIDATED, despite having complied with the rules in force at the time, is a defendant in lawsuits filed by individuals referring to payment of inflation adjustments to savings accounts resulting from economic plants implemented in the 1980s and the 1990s, 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 CONSOLIDATED recognizes provisions upon receipt of summons, and when individuals demand the enforcement of a ruling handed down by the courts, using the same criteria as for 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, by order of the STF, until it pronounces its 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 the economic plans, and ITAÚ UNIBANCO HOLDING CONSOLIDATED has already accepted its terms. The agreement was approved on March 1, 2018, at a Plenary Session on the Federal Supreme Court (STF), with the legal actions accordingly being cancelled. Savers have 24 months from May 22, 2018 to accept the settlement. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 102

II- Labor claims Provisions for 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 and, pension plan supplement. These lawsuits are classified as follows: Collective lawsuits: related to claims considered similar and with individual amounts that are not considered significant. The expected amount of loss is determined and accrued on a monthly basis in accordance with a statistical model which calculates the amount of the claims, and is reassessed taking into account court rulings. Provisions for contingencies are adjusted to reflect the amounts deposited into court as security for execution. Individual lawsuits: related to claims with unusual characteristics or involving significant amounts. These are periodically calculated based on the amounts claimed. The probability of loss is estimated in accordance with the actual and legal characteristics of each lawsuit. III- Other Risks These are quantified and accrued on the basis of the value of rural credit transactions with joint liability and FCVS (salary variations compensation fund) credits assigned to Banco Nacional. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 103 II- Labor claims Provisions for 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 and, pension plan supplement. These lawsuits are classified as follows: Collective lawsuits: related to claims considered similar and with individual amounts that are not considered significant. The expected amount of loss is determined and accrued on a monthly basis in accordance with a statistical model which calculates the amount of the claims, and is reassessed taking into account court rulings. Provisions for contingencies are adjusted to reflect the amounts deposited into court as security for execution. Individual lawsuits: related to claims with unusual characteristics or involving significant amounts. These are periodically calculated based on the amounts claimed. The probability of loss is estimated in accordance with the actual and legal characteristics of each lawsuit. III- Other Risks These are quantified and accrued on the basis of the value of rural credit transactions with joint liability and FCVS (salary variations compensation fund) credits assigned to Banco Nacional. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 103

Below are the changes in civil, labor and other Risks provisions: 01/01 to 01/01 to 09/30/2019 09/30/2018 Civil Labor Other Total Total Opening balance 4,426,020 6,820,919 573,198 11,820,137 12,732,945 (-) Provisions guaranteed by indemnity clauses (Note 3n) ( 226,179) ( 956,819) - (1,182,998) ( 1,240,767) Subtotal 4,199,841 5,864,100 573,198 10,637,139 11,492,178 Monetary restatement/charges 95,324 380,860 - 476,184 461,612 341,114 2,355,450 ( 73,932) 2,622,632 1,819,303 Changes in the period reflected in results (Note 10g and 10i) (*) 683,284 2,460,408 73,959 3,217,651 2,307,588 Increase Reversal (342,170) (104,958) (147,891) (595,019) (488,285) Payment (1,193,457) (1,628,636) - ( 2,822,093) (2,929,145) Subtotal 3,442,822 6,971,774 499,266 10,913,862 10,843,948 (+) Provisions guaranteed by indemnity clauses (Note 3n) 226,409 985,467 - 1,211,876 1,191,754 3,669,231 7,957,241 499,266 12,125,738 12,035,702 Closing balance (Note 10d) 4,702,139 6,936,338 397,225 12,035,702 Closing balance at 09/30/2018 (*) Includes the effects of the Voluntary Severance Program. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 104 Below are the changes in civil, labor and other Risks provisions: 01/01 to 01/01 to 09/30/2019 09/30/2018 Civil Labor Other Total Total Opening balance 4,426,020 6,820,919 573,198 11,820,137 12,732,945 (-) Provisions guaranteed by indemnity clauses (Note 3n) ( 226,179) ( 956,819) - (1,182,998) ( 1,240,767) Subtotal 4,199,841 5,864,100 573,198 10,637,139 11,492,178 Monetary restatement/charges 95,324 380,860 - 476,184 461,612 341,114 2,355,450 ( 73,932) 2,622,632 1,819,303 Changes in the period reflected in results (Note 10g and 10i) (*) 683,284 2,460,408 73,959 3,217,651 2,307,588 Increase Reversal (342,170) (104,958) (147,891) (595,019) (488,285) Payment (1,193,457) (1,628,636) - ( 2,822,093) (2,929,145) Subtotal 3,442,822 6,971,774 499,266 10,913,862 10,843,948 (+) Provisions guaranteed by indemnity clauses (Note 3n) 226,409 985,467 - 1,211,876 1,191,754 3,669,231 7,957,241 499,266 12,125,738 12,035,702 Closing balance (Note 10d) 4,702,139 6,936,338 397,225 12,035,702 Closing balance at 09/30/2018 (*) Includes the effects of the Voluntary Severance Program. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 104

IV- Tax and social security lawsuits Tax provisions correspond to the principal amount of taxes involved in administrative or judicial tax arguments, subject to tax assessment notices, plus interest and, when applicable, fines and charges. The table below shows the changes in the provisions: 01/01 to 01/01 to 09/30/2019 09/30/2018 Legal Tax Lawsuits obligation Total Total (Note 10d) (Note 11c) Opening balance 4,691,011 2,101,611 6,792,622 7,003,159 (-) Provisions guaranteed by indemnity clauses (Note 3n) - (68,178) (68,178) (66,190) Subtotal 4,691,011 2,033,433 6,724,444 6,936,969 Monetary restatement / charges 108,866 198,123 306,989 275,978 Changes in the period reflected in results (60,641) 20,676 (39,965) (50,805) Increase 124,805 107,191 231,996 308,056 Reversal (185,446) (86,515) (271,961) (358,861) Payment (5,913) (112,984) (118,897) (294,787) Subtotal 4,733,323 2,139,248 6,872,571 6,867,355 (+) Provisions guaranteed by indemnity clauses (Note 3n) - 69,630 69,630 67,704 Closing balance 4,733,323 2,208,878 6,942,201 6,935,059 Closing balance at 09/30/2018 4,588,179 2,346,880 6,935,059 The main discussions related to Tax and Tax Lawsuits and Legal Obligations are described below: · CSLL – Isonomy – R$ 1,378,192: discussing the lack of constitutional support for the increase, established by Law 11,727/08, in the CSLL rate for financial and insurance companies from 9% to 15%. The balance of the court deposit is R$ 1,368,048; · INSS – Non-compensatory amounts – R$ 675,434: the non-levy of social security contribution on amounts paid as profit sharing is defended; · PIS and COFINS – Calculation basis – R$ 641,997: defending the levy of PIS and COFINS on revenue, a tax on revenue from the sales of assets and services. The balance of the court deposit is R$ 607,158. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 105 IV- Tax and social security lawsuits Tax provisions correspond to the principal amount of taxes involved in administrative or judicial tax arguments, subject to tax assessment notices, plus interest and, when applicable, fines and charges. The table below shows the changes in the provisions: 01/01 to 01/01 to 09/30/2019 09/30/2018 Legal Tax Lawsuits obligation Total Total (Note 10d) (Note 11c) Opening balance 4,691,011 2,101,611 6,792,622 7,003,159 (-) Provisions guaranteed by indemnity clauses (Note 3n) - (68,178) (68,178) (66,190) Subtotal 4,691,011 2,033,433 6,724,444 6,936,969 Monetary restatement / charges 108,866 198,123 306,989 275,978 Changes in the period reflected in results (60,641) 20,676 (39,965) (50,805) Increase 124,805 107,191 231,996 308,056 Reversal (185,446) (86,515) (271,961) (358,861) Payment (5,913) (112,984) (118,897) (294,787) Subtotal 4,733,323 2,139,248 6,872,571 6,867,355 (+) Provisions guaranteed by indemnity clauses (Note 3n) - 69,630 69,630 67,704 Closing balance 4,733,323 2,208,878 6,942,201 6,935,059 Closing balance at 09/30/2018 4,588,179 2,346,880 6,935,059 The main discussions related to Tax and Tax Lawsuits and Legal Obligations are described below: · CSLL – Isonomy – R$ 1,378,192: discussing the lack of constitutional support for the increase, established by Law 11,727/08, in the CSLL rate for financial and insurance companies from 9% to 15%. The balance of the court deposit is R$ 1,368,048; · INSS – Non-compensatory amounts – R$ 675,434: the non-levy of social security contribution on amounts paid as profit sharing is defended; · PIS and COFINS – Calculation basis – R$ 641,997: defending the levy of PIS and COFINS on revenue, a tax on revenue from the sales of assets and services. The balance of the court deposit is R$ 607,158. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 105

c) Contingencies not provided for in the Balance Sheet Amounts involved in administrative and judicial arguments with the risk of loss estimated as possible are not provided for and they are basically composed of: I- Civil and Labor Claims In Civil Lawsuits with possible loss, total estimated risk is R$ 4,241,447 (R$ 3,818,028 at September 30, 2018), and in this total there are no amounts arising from interests in Joint Ventures. For Labor Claims with possible loss, estimated risk is R$ 213,292 (R$ 155,934 at September 30, 2018). II - Tax proceedings: The tax proceedings of possible loss totaled R$ 26,731,856, and the main cases are described below: · INSS – Non-compensatory amounts – R$ 5,839,838: 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$ 4,073,550: the deductibility of raising costs (Interbank deposits rates) for funds that were capitalized between Group companies; · IRPJ and CSLL – Goodwill – Deduction – R$ 3,253,287: the deductibility of goodwill for future expected profitability on the acquisition of investments; · PIS and COFINS - Reversal of Revenues from Depreciation in Excess – R$ 1,991,170: discussing the accounting and tax treatment of PIS and COFINS upon settlement of leasing operations; · IRPJ, CSLL, PIS and COFINS – Requests for offsetting dismissed - R$ 1,807,486: cases in which the liquidity and the certainty of credits offset are discussed; · IRPJ and CSLL – Disallowance of Losses – R$ R$ 1.158.511: 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; · ISS – Banking Institutions – R$ 1,027,869: 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 – Deductibility of Losses in Credit Operations – R$ 677,271: Assessments to require the payment of IRPJ and CSLL due to the alleged non-observance of the legal criteria for the deduction of losses on receipt of credits. d) Accounts receivables – Reimbursement of provisions The receivables balance arising from reimbursements of contingencies totals R$ 1,004,246 (R$ 1,006,167 at 09/30/2018) (Note 10a) , 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 CONSOLIDATED and basically consist of: Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 106 c) Contingencies not provided for in the Balance Sheet Amounts involved in administrative and judicial arguments with the risk of loss estimated as possible are not provided for and they are basically composed of: I- Civil and Labor Claims In Civil Lawsuits with possible loss, total estimated risk is R$ 4,241,447 (R$ 3,818,028 at September 30, 2018), and in this total there are no amounts arising from interests in Joint Ventures. For Labor Claims with possible loss, estimated risk is R$ 213,292 (R$ 155,934 at September 30, 2018). II - Tax proceedings: The tax proceedings of possible loss totaled R$ 26,731,856, and the main cases are described below: · INSS – Non-compensatory amounts – R$ 5,839,838: 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$ 4,073,550: the deductibility of raising costs (Interbank deposits rates) for funds that were capitalized between Group companies; · IRPJ and CSLL – Goodwill – Deduction – R$ 3,253,287: the deductibility of goodwill for future expected profitability on the acquisition of investments; · PIS and COFINS - Reversal of Revenues from Depreciation in Excess – R$ 1,991,170: discussing the accounting and tax treatment of PIS and COFINS upon settlement of leasing operations; · IRPJ, CSLL, PIS and COFINS – Requests for offsetting dismissed - R$ 1,807,486: cases in which the liquidity and the certainty of credits offset are discussed; · IRPJ and CSLL – Disallowance of Losses – R$ R$ 1.158.511: 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; · ISS – Banking Institutions – R$ 1,027,869: 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 – Deductibility of Losses in Credit Operations – R$ 677,271: Assessments to require the payment of IRPJ and CSLL due to the alleged non-observance of the legal criteria for the deduction of losses on receipt of credits. d) Accounts receivables – Reimbursement of provisions The receivables balance arising from reimbursements of contingencies totals R$ 1,004,246 (R$ 1,006,167 at 09/30/2018) (Note 10a) , 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 CONSOLIDATED and basically consist of: Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 106

09/30/2019 09/30/2018 Civil Labor Tax Total Total Deposits in guarantee (Note 10a) 1,509,405 2,510,801 10,553,257 14,573,463 13,615,017 Quotas 639,305 464,677 256,424 1,360,406 2,211,219 Surety 59,544 62,159 2,751,996 2,873,699 1,311,939 Insurance bond 1,662,520 800,302 11,675,901 14,138,723 11,450,768 Guarantee by government securities 40,398 - 334,380 374,778 534,384 Total 3,911,172 3,837,939 25,571,958 33,321,069 29,123,327 ITAÚ UNIBANCO HOLDING CONSOLIDATED’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 CONSOLIDATED is not a party to this or any other administrative proceedings or lawsuits that could significantly affect the results of its operations. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 107 09/30/2019 09/30/2018 Civil Labor Tax Total Total Deposits in guarantee (Note 10a) 1,509,405 2,510,801 10,553,257 14,573,463 13,615,017 Quotas 639,305 464,677 256,424 1,360,406 2,211,219 Surety 59,544 62,159 2,751,996 2,873,699 1,311,939 Insurance bond 1,662,520 800,302 11,675,901 14,138,723 11,450,768 Guarantee by government securities 40,398 - 334,380 374,778 534,384 Total 3,911,172 3,837,939 25,571,958 33,321,069 29,123,327 ITAÚ UNIBANCO HOLDING CONSOLIDATED’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 CONSOLIDATED is not a party to this or any other administrative proceedings or lawsuits that could significantly affect the results of its operations. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 107

Note 10 - Breakdown of accounts a) Other receivables 09/30/2019 09/30/2018 Foreign exchange portfolio (Note 10b) 109,436,448 77,631,607 Deferred tax assets (Note 11b I) 41,189,316 44,982,660 Negotiation and intermediation of securities 22,374,951 11,917,155 Escrow - contingencies, provisions and legal obligations (Note 9b) 14,573,463 13,615,017 Taxes and contributions for offsetting 9,862,826 8,408,390 Operations without credit granting characteristics, net of provisions 3,859,597 2,886,173 Income receivable 3,083,246 2,922,637 Sundry - in Brazil 2,120,040 2,059,055 Receivables from insurance and reinsurance operations 1,356,310 1,282,825 Sundry - foreign 1,300,259 3,748,354 Net amount receivables from reimbursement of provisions (Note 9d) 1,004,246 1,006,167 Post-employment benefits plan assets (Note 16e) 704,551 1,084,891 Other 3,619,196 2,952,214 Total 214,484,449 174,497,145 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 108 Note 10 - Breakdown of accounts a) Other receivables 09/30/2019 09/30/2018 Foreign exchange portfolio (Note 10b) 109,436,448 77,631,607 Deferred tax assets (Note 11b I) 41,189,316 44,982,660 Negotiation and intermediation of securities 22,374,951 11,917,155 Escrow - contingencies, provisions and legal obligations (Note 9b) 14,573,463 13,615,017 Taxes and contributions for offsetting 9,862,826 8,408,390 Operations without credit granting characteristics, net of provisions 3,859,597 2,886,173 Income receivable 3,083,246 2,922,637 Sundry - in Brazil 2,120,040 2,059,055 Receivables from insurance and reinsurance operations 1,356,310 1,282,825 Sundry - foreign 1,300,259 3,748,354 Net amount receivables from reimbursement of provisions (Note 9d) 1,004,246 1,006,167 Post-employment benefits plan assets (Note 16e) 704,551 1,084,891 Other 3,619,196 2,952,214 Total 214,484,449 174,497,145 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 108

b) Foreign exchange portfolio 09/30/2019 09/30/2018 Assets - other receivables 109,436,448 77,631,607 49,686,149 39,712,152 Exchange purchase pending settlement – foreign currency 12,202 12,998 Bills of exchange and term documents – foreign currency 60,215,899 38,574,015 Exchange sale rights – local currency (Advances received) – local currency (477,802) ( 667,558) 110,028,234 77,620,730 Liabilities – other liabilities (Note 2a) Exchange sales pending settlement – foreign currency 59,461,698 38,126,603 Liabilities from purchase of foreign currency – local currency 50,365,032 39,290,028 Other 201,504 204,099 Offsetting accounts 2,339,289 1,913,580 829,996 712,256 Outstanding import credits – foreign currency 1,509,293 1,201,324 Confirmed export credits – foreign currency Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 109 b) Foreign exchange portfolio 09/30/2019 09/30/2018 Assets - other receivables 109,436,448 77,631,607 49,686,149 39,712,152 Exchange purchase pending settlement – foreign currency 12,202 12,998 Bills of exchange and term documents – foreign currency 60,215,899 38,574,015 Exchange sale rights – local currency (Advances received) – local currency (477,802) ( 667,558) 110,028,234 77,620,730 Liabilities – other liabilities (Note 2a) Exchange sales pending settlement – foreign currency 59,461,698 38,126,603 Liabilities from purchase of foreign currency – local currency 50,365,032 39,290,028 Other 201,504 204,099 Offsetting accounts 2,339,289 1,913,580 829,996 712,256 Outstanding import credits – foreign currency 1,509,293 1,201,324 Confirmed export credits – foreign currency Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 109

c) Prepaid expenses 09/30/2019 09/30/2018 Publicity and advertising 327,859 421,641 Commissions related to software maintenance 554,306 371,273 257,787 293,570 Commissions Related to payroll loans 56,194 97,447 Related to insurance and pension plan 14,049 23,039 Related to vehicle financing 13,158 17,320 Restricted to commissions / partnership agreements 235 1,647 Other 174,151 154,118 Credit Card Operating Expenses 780,887 43,244 Legal Protection Insurance 127,398 136,839 Municipal Tax 45,846 35,035 Other 621,139 558,427 2,715,222 1,860,029 Total Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 110 c) Prepaid expenses 09/30/2019 09/30/2018 Publicity and advertising 327,859 421,641 Commissions related to software maintenance 554,306 371,273 257,787 293,570 Commissions Related to payroll loans 56,194 97,447 Related to insurance and pension plan 14,049 23,039 Related to vehicle financing 13,158 17,320 Restricted to commissions / partnership agreements 235 1,647 Other 174,151 154,118 Credit Card Operating Expenses 780,887 43,244 Legal Protection Insurance 127,398 136,839 Municipal Tax 45,846 35,035 Other 621,139 558,427 2,715,222 1,860,029 Total Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 110

d) Other liabilities - Sundry 09/30/2019 09/30/2018 110,028,234 77,620,730 Foreign exchange portfolio (Note 10b) Payment Transactions 33,130,832 35,231,817 Tax and social security obligations (Note 11c) 17,621,416 15,263,353 14,334,616 14,382,582 Provisions for civil, labor, other risks and tax lawsuits (Note 9b) Negotiation and intermediation of securities 13,254,470 9,188,723 Collection and payment of taxes and contributions 6,197,254 5,786,200 Social and statutory 3,428,567 2,816,256 Transactions related to credit assignments (Note 6f) 3,169,288 4,136,421 Provisions for sundry payments 3,750,771 3,441,230 Sundry creditors - foreign 5,002,819 5,810,631 Sundry creditors - in Brazil 3,483,715 2,384,333 Personnel provision 2,354,506 2,218,040 Funds to be released 1,233,502 1,240,771 Liabilities for official agreements and rendering of payment services 999,313 904,582 Provision financial guarantees provided (Note 6c) 1,010,078 1,268,994 Post-employment benefits plan liabilities (Note 16e) 1,252,562 779,454 Other 1,653,496 2,895,263 Total 221,905,439 185,369,380 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 111 d) Other liabilities - Sundry 09/30/2019 09/30/2018 110,028,234 77,620,730 Foreign exchange portfolio (Note 10b) Payment Transactions 33,130,832 35,231,817 Tax and social security obligations (Note 11c) 17,621,416 15,263,353 14,334,616 14,382,582 Provisions for civil, labor, other risks and tax lawsuits (Note 9b) Negotiation and intermediation of securities 13,254,470 9,188,723 Collection and payment of taxes and contributions 6,197,254 5,786,200 Social and statutory 3,428,567 2,816,256 Transactions related to credit assignments (Note 6f) 3,169,288 4,136,421 Provisions for sundry payments 3,750,771 3,441,230 Sundry creditors - foreign 5,002,819 5,810,631 Sundry creditors - in Brazil 3,483,715 2,384,333 Personnel provision 2,354,506 2,218,040 Funds to be released 1,233,502 1,240,771 Liabilities for official agreements and rendering of payment services 999,313 904,582 Provision financial guarantees provided (Note 6c) 1,010,078 1,268,994 Post-employment benefits plan liabilities (Note 16e) 1,252,562 779,454 Other 1,653,496 2,895,263 Total 221,905,439 185,369,380 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 111

e) Banking service fees 01/01 to 01/01 to 09/30/2019 09/30/2018 Credit and debit cards 8,592,281 8,695,056 Asset management 5,322,471 4,714,186 Funds 4,797,504 4,215,750 Cons Consorti ora tia management fee 524,967 498,436 Loan operations and financial guarantees provided 1,319,677 1,387,906 Loan operations 295,542 263,975 Financial guarantees provided 1,024,135 1,123,931 Receipt services 1,368,566 1,328,198 Charge services 1,148,746 1,126,449 Collection services 219,820 201,749 Current account 546,918 524,202 Other 2,457,010 2,369,889 Custody and management of portfolio 365,402 322,480 Economic and financial advisory 717,571 503,402 Other services 1,374,037 1,544,007 Total 19,606,923 19,019,437 f) Income related to bank charges 01/01 to 01/01 to 09/30/2019 09/30/2018 Service packages 4,858,748 4,859,922 Credit cards – annual fees and other services 2,998,451 2,846,847 Earnings from securities brokerage 765,565 560,346 Loan operations / registration 723,869 623,250 Transfer of funds 310,335 291,886 Deposit account 173,169 158,441 Total 9,830,137 9,340,692 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 112 e) Banking service fees 01/01 to 01/01 to 09/30/2019 09/30/2018 Credit and debit cards 8,592,281 8,695,056 Asset management 5,322,471 4,714,186 Funds 4,797,504 4,215,750 Cons Consorti ora tia management fee 524,967 498,436 Loan operations and financial guarantees provided 1,319,677 1,387,906 Loan operations 295,542 263,975 Financial guarantees provided 1,024,135 1,123,931 Receipt services 1,368,566 1,328,198 Charge services 1,148,746 1,126,449 Collection services 219,820 201,749 Current account 546,918 524,202 Other 2,457,010 2,369,889 Custody and management of portfolio 365,402 322,480 Economic and financial advisory 717,571 503,402 Other services 1,374,037 1,544,007 Total 19,606,923 19,019,437 f) Income related to bank charges 01/01 to 01/01 to 09/30/2019 09/30/2018 Service packages 4,858,748 4,859,922 Credit cards – annual fees and other services 2,998,451 2,846,847 Earnings from securities brokerage 765,565 560,346 Loan operations / registration 723,869 623,250 Transfer of funds 310,335 291,886 Deposit account 173,169 158,441 Total 9,830,137 9,340,692 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 112

g) Personnel expenses 01/01 to 01/01 to 09/30/2019 09/30/2018 Compensation (7,212,610) (7,515,540) Employees’ profit sharing (3,452,071) (3,006,366) (3,405,261) (2,807,122) Social benefits Charges (2,478,408) (2,237,324) (3,709,907) (1,651,116) Labor claims and termination of employees Training (123,794) (167,048) (200,628) (167,728) Share-based payment (Note 13g) (*) ( 20,582,679) (17,552,244) Total (*) Includes the effects of the Voluntary Severance Program, totaling R$ 2,385,039. h) Other administrative expenses 01/01 to 01/01 to 09/30/2019 09/30/2018 Third-party services (3,405,369) (3,234,198) (3,219,849) (3,123,265) Data processing and telecommunications Installations (2,445,073) (2,439,546) Depreciation and amortization (2,103,386) (1,991,485) Advertising, promotions and publicity (921,092) (1,052,637) Financial system services (544,454) (552,978) (563,662) (565,304) Security Transportation (269,895) (256,211) (247,663) (238,898) Materials Travel expenses (176,687) (164,627) Other (889,032) (964,527) Total (14,786,162) ( 14,583,676) Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 113 g) Personnel expenses 01/01 to 01/01 to 09/30/2019 09/30/2018 Compensation (7,212,610) (7,515,540) Employees’ profit sharing (3,452,071) (3,006,366) (3,405,261) (2,807,122) Social benefits Charges (2,478,408) (2,237,324) (3,709,907) (1,651,116) Labor claims and termination of employees Training (123,794) (167,048) (200,628) (167,728) Share-based payment (Note 13g) (*) ( 20,582,679) (17,552,244) Total (*) Includes the effects of the Voluntary Severance Program, totaling R$ 2,385,039. h) Other administrative expenses 01/01 to 01/01 to 09/30/2019 09/30/2018 Third-party services (3,405,369) (3,234,198) (3,219,849) (3,123,265) Data processing and telecommunications Installations (2,445,073) (2,439,546) Depreciation and amortization (2,103,386) (1,991,485) Advertising, promotions and publicity (921,092) (1,052,637) Financial system services (544,454) (552,978) (563,662) (565,304) Security Transportation (269,895) (256,211) (247,663) (238,898) Materials Travel expenses (176,687) (164,627) Other (889,032) (964,527) Total (14,786,162) ( 14,583,676) Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 113

i) Other operating expenses 01/01 to 01/01 to 09/30/2019 09/30/2018 Selling - credit cards (3,274,199) (2,833,733) Operations without no credit granting characteristics, net of provision (387,094) (1,633,355) Amortization of goodwill (952,770) (941,807) Provision for lawsuits (Note 9b) (311,593) (487,988) Civil (341,114) (228,024) Tax and social security obligations (44,411) (13,424) Other 73,932 (246,540) Claims (346,934) (275,260) Refund of interbank costs (247,283) (217,174) Impairment – Intangible assets - (167,363) Other (1,230,982) (1,568,324) Total (6,750,855) (8,125,004) Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 114 i) Other operating expenses 01/01 to 01/01 to 09/30/2019 09/30/2018 Selling - credit cards (3,274,199) (2,833,733) Operations without no credit granting characteristics, net of provision (387,094) (1,633,355) Amortization of goodwill (952,770) (941,807) Provision for lawsuits (Note 9b) (311,593) (487,988) Civil (341,114) (228,024) Tax and social security obligations (44,411) (13,424) Other 73,932 (246,540) Claims (346,934) (275,260) Refund of interbank costs (247,283) (217,174) Impairment – Intangible assets - (167,363) Other (1,230,982) (1,568,324) Total (6,750,855) (8,125,004) Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 114

Note 11 - 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% (1) 15.00% Social contribution on net income (2) 0.65% PIS (2) 4.00% COFINS ISS up to 5.00% (1) In October 2019, the Brazilian Congress approved the Constitutional Amendment Bill (PEC) 06, which increased the tax rate of Social Contribution on Net Income for banks from 15.00% to 20.00%. For other financial subsidiaries and equivalent companies, the tax rate continues being 15.00%, and for the others, it is 9.00%. (2) For non-financial subsidiaries that fall into the non-cumulative calculation system, the PIS rate is 1.65% and COFINS rate is 7.60%. a) Expenses for taxes and contributions I - Breakdown of Income tax and social contribution calculation: 01/01 to 01/01 to Due on operations for the period 09/30/2019 09/30/2018 Income before income tax and social contribution 25,539,779 21,376,887 (9,619,599) Charges (income tax and social contribution) at the rates in effect (10,215,912) Increase / decrease in income tax and social contribution charges arising from: Equity income in affiliates and joint ventures 284,176 82,766 Foreign exchange variations on investments abroad 1,180,004 4,912,886 Interest on capital 2,334,543 2,737,069 Corporate reorganizations (Note 3l) - 470,804 Dividends and interest on external debt securities 366,018 376,136 Other nondeductible expenses net of non taxable income (*) (2,568,749) ( 5,375,295) Income tax and social contribution expenses ( 8,619,920) (6,415,233) Related to temporary differences Increase / (reversal) for the period 2,770,608 4,172,366 Increase / (reversal) of prior periods 4,876 1,660 (Expenses) / Income from deferred taxes 2,775,484 4,174,026 Total income tax and social contribution expenses (5,844,436) ( 2,241,207) (*) Includes temporary (additions) and exclusions. II - Tax expenses: 01/01 to 01/01 to 09/30/2019 09/30/2018 PIS and COFINS ( 3,883,080) (3,106,614) ISS ( 1,035,165) (971,200) Other (422,432) ( 561,365) Total (5,340,677) (4,639,179) The tax expenses of ITAÚ UNIBANCO HOLDING amount to R$ (278,928) (R$ (232,401) from 01/01 to 09/30/2018) and are mainly composed of PIS and COFINS. III - Tax effects of foreign exchange management of investments abroad In order to minimize the effects on income of foreign exchange variations on investments abroad, net of the respective tax effects, ITAÚ UNIBANCO HOLDING CONSOLIDATED carries out derivative transactions in foreign currency (hedging), as mentioned in Note 19b. The results of these transactions are included in the calculation base of income tax and social contribution, in accordance with their nature, but the foreign exchange variations on investments abroad are not included, pursuant to the tax legislation. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 115 Note 11 - 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% (1) 15.00% Social contribution on net income (2) 0.65% PIS (2) 4.00% COFINS ISS up to 5.00% (1) In October 2019, the Brazilian Congress approved the Constitutional Amendment Bill (PEC) 06, which increased the tax rate of Social Contribution on Net Income for banks from 15.00% to 20.00%. For other financial subsidiaries and equivalent companies, the tax rate continues being 15.00%, and for the others, it is 9.00%. (2) For non-financial subsidiaries that fall into the non-cumulative calculation system, the PIS rate is 1.65% and COFINS rate is 7.60%. a) Expenses for taxes and contributions I - Breakdown of Income tax and social contribution calculation: 01/01 to 01/01 to Due on operations for the period 09/30/2019 09/30/2018 Income before income tax and social contribution 25,539,779 21,376,887 (9,619,599) Charges (income tax and social contribution) at the rates in effect (10,215,912) Increase / decrease in income tax and social contribution charges arising from: Equity income in affiliates and joint ventures 284,176 82,766 Foreign exchange variations on investments abroad 1,180,004 4,912,886 Interest on capital 2,334,543 2,737,069 Corporate reorganizations (Note 3l) - 470,804 Dividends and interest on external debt securities 366,018 376,136 Other nondeductible expenses net of non taxable income (*) (2,568,749) ( 5,375,295) Income tax and social contribution expenses ( 8,619,920) (6,415,233) Related to temporary differences Increase / (reversal) for the period 2,770,608 4,172,366 Increase / (reversal) of prior periods 4,876 1,660 (Expenses) / Income from deferred taxes 2,775,484 4,174,026 Total income tax and social contribution expenses (5,844,436) ( 2,241,207) (*) Includes temporary (additions) and exclusions. II - Tax expenses: 01/01 to 01/01 to 09/30/2019 09/30/2018 PIS and COFINS ( 3,883,080) (3,106,614) ISS ( 1,035,165) (971,200) Other (422,432) ( 561,365) Total (5,340,677) (4,639,179) The tax expenses of ITAÚ UNIBANCO HOLDING amount to R$ (278,928) (R$ (232,401) from 01/01 to 09/30/2018) and are mainly composed of PIS and COFINS. III - Tax effects of foreign exchange management of investments abroad In order to minimize the effects on income of foreign exchange variations on investments abroad, net of the respective tax effects, ITAÚ UNIBANCO HOLDING CONSOLIDATED carries out derivative transactions in foreign currency (hedging), as mentioned in Note 19b. The results of these transactions are included in the calculation base of income tax and social contribution, in accordance with their nature, but the foreign exchange variations on investments abroad are not included, pursuant to the tax legislation. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 115

b) Deferred taxes I - The Deferred Tax Asset balance and its changes, segregated based on its origin and disbursements incurred, are represented as follows: Deferred Tax Assets Origin Realization / 09/30/2019 09/30/2018 12/31/2018 Increase 09/30/2019 09/30/2018 Reversal Reflected in income 38,296,689 (10,644,016) 12,020,723 39,673,396 43,096,272 Provision for loan losses 53,100,569 59,359,946 20,813,583 (4,674,298) 4,415,749 20,555,034 23,559,494 Related to tax losses and social contribution loss carryforwards 4,302,570 (1,011,416) 1,500,779 4,791,933 5,956,156 Provision for profit sharing 4,068,642 3,401,821 1,843,824 (1,843,824) 1,519,897 1,519,897 1,423,364 Provision for devaluation of securities with permanent impairment 2,932,859 3,604,439 1,385,944 (614,549) 400,079 1,171,474 1,421,239 Adjustment to Market Value of Trading Securities and Derivative Financial Instruments 1,233,207 874,971 115,771 (115,771) 545,393 545,393 347,745 Adjustments of operations carried out on the futures settlement market 238,939 320,073 105,210 (105,210) 102,170 102,170 153,424 Goodwill on purchase of investments 2,352,443 1,374,261 641,392 (90,706) 141,911 692,597 405,918 Provision 12,312,965 11,940,932 4,464,058 (1,190,884) 1,466,431 4,739,605 4,853,593 Civil lawsuits 3,442,822 4,206,606 1,585,884 (473,652) 156,575 1,268,807 1,708,898 Labor claims 6,661,265 5,387,446 2,037,530 (637,432) 1,187,149 2,587,247 2,088,599 Tax and social security obligations 2,208,878 2,346,880 840,644 (79,800) 122,707 883,551 1,056,096 Legal liabilities 1,924,561 1,220,030 675,822 (10,806) 73,741 738,757 544,776 Provision related to health insurance operations 873,155 855,904 342,636 - 6,626 349,262 345,443 Other non-deductible provisions 11,280,942 9,649,643 3,605,879 (986,552) 1,847,947 4,467,274 4,085,120 Reflected in stockholders’ equity 1,574,360 (178,515) 120,075 1,515,920 1,886,388 Corporate reorganizations (Note 3l) - 461,574 - - - - 156,935 Adjustment to market value of available-for-sale securities 9,654 1,750,342 182,211 (178,515) 337 4,033 718,654 Cash flow hedge 3,054,040 2,213,585 1,288,953 - 81,577 1,370,530 1,008,754 Post-employment benefits 353,391 4,760 103,196 - 38,161 141,357 2,045 (*) 93,735,367 97,032,281 39,871,049 (10,822,531) 12,140,798 41,189,316 44,982,660 Total Social contribution for offsetting arising from Option established in article 8º of 603,475 (4,079) - 599,396 603,475 Provisional Measure nº. 2,158-35 of August 24, 2001 (*) 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. For ITAÚ UNIBANCO HOLDING, Deferred tax assets totaled R$ 1,760,802 (R$ 2,358,863 at 09/30/2018) and are mainly represented by Tax losses and social contribution loss carryforwards of R$ 1,279,730 (R$ 1,751,485 at 09/30/2018), Provisions for Escrow Accounts of R$ 112,688 (R$ 112,766 at 09/30/2018), Administrative Provisions of R$ 40,215 (R$ 49,988 at 09/30/2018), Provisions for Legal, Tax and Social Security Risks of R$ 87,972 (R$ 81,506 at 09/30/2018), the realization of which is contingent upon the outcome of the respective lawsuits and Adjustment to Market Value of Trading Securities and Derivative Financial Instruments of R$ 405 (R$ 237,680 at 09/30/2018), and Goodwill on purchase of investments of R$ 207,828. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 116 b) Deferred taxes I - The Deferred Tax Asset balance and its changes, segregated based on its origin and disbursements incurred, are represented as follows: Deferred Tax Assets Origin Realization / 09/30/2019 09/30/2018 12/31/2018 Increase 09/30/2019 09/30/2018 Reversal Reflected in income 38,296,689 (10,644,016) 12,020,723 39,673,396 43,096,272 Provision for loan losses 53,100,569 59,359,946 20,813,583 (4,674,298) 4,415,749 20,555,034 23,559,494 Related to tax losses and social contribution loss carryforwards 4,302,570 (1,011,416) 1,500,779 4,791,933 5,956,156 Provision for profit sharing 4,068,642 3,401,821 1,843,824 (1,843,824) 1,519,897 1,519,897 1,423,364 Provision for devaluation of securities with permanent impairment 2,932,859 3,604,439 1,385,944 (614,549) 400,079 1,171,474 1,421,239 Adjustment to Market Value of Trading Securities and Derivative Financial Instruments 1,233,207 874,971 115,771 (115,771) 545,393 545,393 347,745 Adjustments of operations carried out on the futures settlement market 238,939 320,073 105,210 (105,210) 102,170 102,170 153,424 Goodwill on purchase of investments 2,352,443 1,374,261 641,392 (90,706) 141,911 692,597 405,918 Provision 12,312,965 11,940,932 4,464,058 (1,190,884) 1,466,431 4,739,605 4,853,593 Civil lawsuits 3,442,822 4,206,606 1,585,884 (473,652) 156,575 1,268,807 1,708,898 Labor claims 6,661,265 5,387,446 2,037,530 (637,432) 1,187,149 2,587,247 2,088,599 Tax and social security obligations 2,208,878 2,346,880 840,644 (79,800) 122,707 883,551 1,056,096 Legal liabilities 1,924,561 1,220,030 675,822 (10,806) 73,741 738,757 544,776 Provision related to health insurance operations 873,155 855,904 342,636 - 6,626 349,262 345,443 Other non-deductible provisions 11,280,942 9,649,643 3,605,879 (986,552) 1,847,947 4,467,274 4,085,120 Reflected in stockholders’ equity 1,574,360 (178,515) 120,075 1,515,920 1,886,388 Corporate reorganizations (Note 3l) - 461,574 - - - - 156,935 Adjustment to market value of available-for-sale securities 9,654 1,750,342 182,211 (178,515) 337 4,033 718,654 Cash flow hedge 3,054,040 2,213,585 1,288,953 - 81,577 1,370,530 1,008,754 Post-employment benefits 353,391 4,760 103,196 - 38,161 141,357 2,045 (*) 93,735,367 97,032,281 39,871,049 (10,822,531) 12,140,798 41,189,316 44,982,660 Total Social contribution for offsetting arising from Option established in article 8º of 603,475 (4,079) - 599,396 603,475 Provisional Measure nº. 2,158-35 of August 24, 2001 (*) 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. For ITAÚ UNIBANCO HOLDING, Deferred tax assets totaled R$ 1,760,802 (R$ 2,358,863 at 09/30/2018) and are mainly represented by Tax losses and social contribution loss carryforwards of R$ 1,279,730 (R$ 1,751,485 at 09/30/2018), Provisions for Escrow Accounts of R$ 112,688 (R$ 112,766 at 09/30/2018), Administrative Provisions of R$ 40,215 (R$ 49,988 at 09/30/2018), Provisions for Legal, Tax and Social Security Risks of R$ 87,972 (R$ 81,506 at 09/30/2018), the realization of which is contingent upon the outcome of the respective lawsuits and Adjustment to Market Value of Trading Securities and Derivative Financial Instruments of R$ 405 (R$ 237,680 at 09/30/2018), and Goodwill on purchase of investments of R$ 207,828. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 116

II - Provision for Deferred Income Tax and Social Contribution balance and the changes therein changes are shown as follows: Realization / 12/31/2018 Increase 09/30/2019 09/30/2018 Reversal Reflected in income 5,532,962 (3,172,165) 1,543,220 3,904,017 4,558,659 Depreciation in excess – leasing 345,754 (73,694) - 272,060 333,259 Restatement of escrow deposits for legal obligations and provision 1,348,337 (17,641) 38,146 1,368,842 1,342,604 Post-employment benefits 287,361 (36,045) 6,857 258,173 298,506 Adjustments to market value of trading securities and derivative financial 2,007,291 ( 2,007,291) 214,318 214,318 591,820 instruments Adjustments of operations carried out on the future settlement market 1,020,024 ( 1,020,024) 1,204,599 1,204,599 1,456,365 Taxation of results abroad – capital gains 1,330 ( 223) - 1,107 1,634 Other 522,865 (17,247) 79,300 584,918 534,471 Reflected in stockholders’ equity 336,833 (1,853) 991,711 1,326,691 33,599 Adjustments to market value of available-for-sale securities 330,028 (1,853) 990,914 1,319,089 7,879 Post-employment benefits 6,805 - 797 7,602 25,720 Total 5,869,795 ( 3,174,018) 2,534,931 5,230,708 4,592,258 At ITAÚ UNIBANCO HOLDING, the Provisions for Deferred Taxes and Contributions total R$ 125,961 (R$ 16,024 at 09/30/2018) and are basically comprised of Restatement of escrow deposits for legal obligations and contingent liabilities of R$ 4,553 (R$ 3,995 at 09/30/2018) and Adjustments to market value of trading securities and derivative financial instruments of R$ 59,142. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 117 II - Provision for Deferred Income Tax and Social Contribution balance and the changes therein changes are shown as follows: Realization / 12/31/2018 Increase 09/30/2019 09/30/2018 Reversal Reflected in income 5,532,962 (3,172,165) 1,543,220 3,904,017 4,558,659 Depreciation in excess – leasing 345,754 (73,694) - 272,060 333,259 Restatement of escrow deposits for legal obligations and provision 1,348,337 (17,641) 38,146 1,368,842 1,342,604 Post-employment benefits 287,361 (36,045) 6,857 258,173 298,506 Adjustments to market value of trading securities and derivative financial 2,007,291 ( 2,007,291) 214,318 214,318 591,820 instruments Adjustments of operations carried out on the future settlement market 1,020,024 ( 1,020,024) 1,204,599 1,204,599 1,456,365 Taxation of results abroad – capital gains 1,330 ( 223) - 1,107 1,634 Other 522,865 (17,247) 79,300 584,918 534,471 Reflected in stockholders’ equity 336,833 (1,853) 991,711 1,326,691 33,599 Adjustments to market value of available-for-sale securities 330,028 (1,853) 990,914 1,319,089 7,879 Post-employment benefits 6,805 - 797 7,602 25,720 Total 5,869,795 ( 3,174,018) 2,534,931 5,230,708 4,592,258 At ITAÚ UNIBANCO HOLDING, the Provisions for Deferred Taxes and Contributions total R$ 125,961 (R$ 16,024 at 09/30/2018) and are basically comprised of Restatement of escrow deposits for legal obligations and contingent liabilities of R$ 4,553 (R$ 3,995 at 09/30/2018) and Adjustments to market value of trading securities and derivative financial instruments of R$ 59,142. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 117

III - The estimate of realization and present value of tax credits and social contribution to offset, arising from Provisional Measure 2,158-35 of 08/24/2001 and from the Provision for Deferred Income Tax and Social Contribution existing are: Deferred tax assets Provision for Social deferred Net deferred Tax loss/social Year of realization contribution for % income tax % % Temporary taxes % contribution loss % Total % offsetting and social differences carryforwards contribution 2019 2,139,900 6% 2 ,695,852 56% 4 ,835,752 12% 3 63,181 61% ( 65,865) 1% 5,133,068 14% 2020 1 3,718,853 38% 517,954 11% 14,236,807 35% 191,293 32% (182,987) 3% 1 4,245,113 39% 2021 7 ,609,479 21% 2 39,138 5% 7 ,848,617 19% 544 0% ( 148,658) 3% 7 ,700,503 21% 2022 4,413,272 12% 2 88,841 6% 4 ,702,113 11% 4 3,824 7% (1,354,865) 26% 3,391,072 9% 2023 2 ,322,963 6% 189,352 4% 2,512,315 6% - 0% (256,551) 5% 2 ,255,764 6% after 2023 6,192,916 17% 860,796 18% 7,053,712 17% 554 0% ( 3,221,782) 62% 3,832,484 11% Total 3 6,397,383 100% 4,791,933 100% 41,189,316 100% 599,396 100% (5,230,708) 100% 3 6,558,004 100% (*) Present value 3 4,055,289 4,575,200 38,630,489 587,955 (4,553,168) 3 4,665,276 (*) The average funding rate, net of tax effects, was used to determine the present value. Projections of future taxable income include estimates of macroeconomic variables, exchange rates, interest rates, volumes of financial operations and service fees and other factors, which can vary in relation to actual data and amounts. Net income in the financial statements is not directly related to the taxable income for income tax and social contribution, due to differences between accounting criteria and the tax legislation, in addition to corporate aspects. Accordingly, it is recommended that changes in realization of deferred tax assets presented below are not considered as an indication of future net income. IV- At September 30, 2018, the temporary effects under 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 09/30/2019 and 09/30/2018, there are no unrecognized tax credits. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 118 III - The estimate of realization and present value of tax credits and social contribution to offset, arising from Provisional Measure 2,158-35 of 08/24/2001 and from the Provision for Deferred Income Tax and Social Contribution existing are: Deferred tax assets Provision for Social deferred Net deferred Tax loss/social Year of realization contribution for % income tax % % Temporary taxes % contribution loss % Total % offsetting and social differences carryforwards contribution 2019 2,139,900 6% 2 ,695,852 56% 4 ,835,752 12% 3 63,181 61% ( 65,865) 1% 5,133,068 14% 2020 1 3,718,853 38% 517,954 11% 14,236,807 35% 191,293 32% (182,987) 3% 1 4,245,113 39% 2021 7 ,609,479 21% 2 39,138 5% 7 ,848,617 19% 544 0% ( 148,658) 3% 7 ,700,503 21% 2022 4,413,272 12% 2 88,841 6% 4 ,702,113 11% 4 3,824 7% (1,354,865) 26% 3,391,072 9% 2023 2 ,322,963 6% 189,352 4% 2,512,315 6% - 0% (256,551) 5% 2 ,255,764 6% after 2023 6,192,916 17% 860,796 18% 7,053,712 17% 554 0% ( 3,221,782) 62% 3,832,484 11% Total 3 6,397,383 100% 4,791,933 100% 41,189,316 100% 599,396 100% (5,230,708) 100% 3 6,558,004 100% (*) Present value 3 4,055,289 4,575,200 38,630,489 587,955 (4,553,168) 3 4,665,276 (*) The average funding rate, net of tax effects, was used to determine the present value. Projections of future taxable income include estimates of macroeconomic variables, exchange rates, interest rates, volumes of financial operations and service fees and other factors, which can vary in relation to actual data and amounts. Net income in the financial statements is not directly related to the taxable income for income tax and social contribution, due to differences between accounting criteria and the tax legislation, in addition to corporate aspects. Accordingly, it is recommended that changes in realization of deferred tax assets presented below are not considered as an indication of future net income. IV- At September 30, 2018, the temporary effects under 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 09/30/2019 and 09/30/2018, there are no unrecognized tax credits. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 118

c) Tax and social security obligations 09/30/2019 09/30/2018 Taxes and contributions on income payable 5,503,174 3,990,349 Other Taxes and Contributions payable 2,154,211 2,092,567 Provision for deferred income tax and social contribution (Note 11b II) 5,230,708 4,592,258 Legal liabilities (Note 9b IV) 4,733,323 4,588,179 Total (Note 10d) 17,621,416 15,263,353 At ITAÚ UNIBANCO HOLDING, the balance of tax and social security obligations totals R$ 815,559 (R$ 831,503 at 09/30/2018) and is mainly comprised of Taxes and contributions on income payable and Other Taxes and Contributions payable of R$ 673,930 (R$ 800,402 at 09/30/2018) and Provision for deferred income tax and social contribution R$ 125,961 (R$ 16,024 at 09/30/2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 119 c) Tax and social security obligations 09/30/2019 09/30/2018 Taxes and contributions on income payable 5,503,174 3,990,349 Other Taxes and Contributions payable 2,154,211 2,092,567 Provision for deferred income tax and social contribution (Note 11b II) 5,230,708 4,592,258 Legal liabilities (Note 9b IV) 4,733,323 4,588,179 Total (Note 10d) 17,621,416 15,263,353 At ITAÚ UNIBANCO HOLDING, the balance of tax and social security obligations totals R$ 815,559 (R$ 831,503 at 09/30/2018) and is mainly comprised of Taxes and contributions on income payable and Other Taxes and Contributions payable of R$ 673,930 (R$ 800,402 at 09/30/2018) and Provision for deferred income tax and social contribution R$ 125,961 (R$ 16,024 at 09/30/2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 119

Note 12 – Permanent Assets (1) a) Investment - Change of investments - ITAÚ UNIBANCO HOLDING Balance at 12/31/2018 Changes 09/30/2019 Book value Equity in earnings of subisidiaries Changes in Changes in exchange Equity in exchange rates and Adjustments earnings of rates and Dividends Functional Amortizati Investiment in marketable Balance at Balance at subsidiaries Companies Adjustments Unrealized Adjustments Unrealized Investiment paid/accrued currency Stockholders' Goodwill Total on of Hedge - securities of 09/30/2019 09/30/2018 from 01/01 (4) to investor results Net Income to investor results Hedge - (3) Total equity goodwill Functional subsidiaries to (2) (2) and other Functional criteria criteria currency and other 09/30/2018 currency other than the other than the Real Real In Brazil 100,750,003 810,186 762,240 (84,365) - 102,238,064 - ( 17,974,182) 15,850,031 90,109 (14,407) 15,925,733 218,995 1,101,737 101,510,347 100,421,424 11,948,567 Itaú Unibanco S.A. 85,697,840 814,997 687,089 ( 40,613) - 87,159,313 - (17,514,174) 13,034,546 85,100 (7,778) 13,111,868 225,151 807,969 83,790,127 85,492,306 10,185,914 Banco Itaucard S.A. 9,326,105 80 6,303 (38,325) - 9,294,163 - ( 440,000) 1,824,085 1,030 ( 7,441) 1,817,674 ( 2,633) 205,423 10,874,627 9,433,669 989,447 Banco Itaú BBA S.A. 2,155,294 ( 4,349) 58,209 ( 5,427) - 2,203,727 - - 494,460 3,898 812 499,170 ( 3,136) 89,064 2,788,825 2,067,654 403,574 Itaú Consult. de Valores Mobiliários e Part. S.A. 2,319,729 ( 542) - - - 2,319,187 - ( 7) 250,625 (1) - 250,624 (387) ( 500) 2,568,917 2,266,515 195,263 Itaú Corretora de Valores S.A. 1,251,029 - 10,639 - - 1,261,668 - (20,000) 246,313 82 246,395 - (219) 1,487,844 1,161,269 174,367 Itaú Seguros S.A. 6 - - - - 6 - (1) 2 - - 2 - - 7 11 2 Foreign 6,892,999 837,501 - (10,571) 327,393 8,047,322 (33,868) ( 196,531) 750,718 - 239 750,957 16,082 38,015 8,621,977 8,579,049 666,835 Itaú Corpbanca 3,231,204 488,128 - - 327,393 4,046,725 ( 33,868) (66,410) 33,356 - ( 609) 32,747 84,611 33,213 4,097,018 4,347,600 5,988 Chilean peso BICSA Holdings, LTD. Chilean peso 1,775,118 246,661 - (10,571) - 2,011,208 - - 100,262 - 848 101,110 49,489 3 2,161,810 2,098,318 92,378 Banco Itaú Uruguay S.A. Uruguayan peso 1,586,997 84,876 - - - 1,671,873 - - 483,602 - - 483,602 (99,074) 4,785 2,061,186 1,823,290 439,300 OCA S.A. 299,680 17,836 - - - 317,516 - ( 130,121) 133,498 - - 133,498 (18,944) 14 301,963 309,841 129,169 Uruguayan peso Grand total 107,643,002 1,647,687 762,240 (94,936) 327,393 110,285,386 ( 33,868) ( 18,170,713) 16,600,749 90,109 (14,168) 16,676,690 235,077 1,139,752 110,132,324 109,000,473 12,615,402 (1) Itaú Unibanco Holding S.A. - Cayman Branch, consolidated in these financial statements, has its functional currency equal to that of the controlling company. The exchange variation of this investment is R$ 98,909 thousand (R$ 156,524 thousand from January 1 to September 30, 2018) and is allocated in the heading Securities and Derivative Financial Instruments in the Statement of Income; (2) Adjustment arising from the standardization of the investee’s financial statements according to the investor’s accounting policies; (3) Dividends approved and not paid are recorded as Dividends receivable; (4) The exchange variation of indirect investments in functional currency equal to the controlling company corresponds to R$ 3,249,727 (R$ 10,905,941 from January 1 to setember 30, 2018). Number of shares/quotas owned by Equity share in capital Stockholders’ Companies Capital Net Income ITAÚ UNIBANCO HOLDING 09/30/2019 (%) equity Common Preferred Quotas Voting Share In Brazil Itaú Unibanco S.A. 61,925,426 83,838,517 13,034,546 2,932,936,995 2,840,549,071 - 100.00 100.00 Banco Itaucard S.A. 4,608,000 10,920,392 1,824,085 237,962,639,781 1,277,933,118 - 99.99 99.99 Banco Itaú BBA S.A. 1,490,000 2,793,441 494,460 4,474,435 4,474,436 - 99.99 99.99 Itaú Consult. de Valores Mobiliários e Part. S.A. 1,328,562 2,568,917 250,625 548,954 1,097,907 - 100.00 100.00 Itaú Corretora de Valores S.A. 802,482 1,487,844 246,313 27,482,523 811,503 - 99.99 99.99 Itaú Seguros S.A. 1,438,000 2,456,757 646,529 297 1 - 0.01 0.01 Foreign Itaú CorpBanca 10,644,189 16,944,654 148,573 115,039,610,411 - - 22.45 22.45 BICSA Holdings, LTD. 1,377,836 2,171,534 100,262 - - 330,860,745 99.99 99.99 Banco Itaú Uruguay S.A. 504,560 2,061,185 483,602 4,465,133,954 - - 100.00 100.00 OCA S.A. 16,990 301,963 133,498 1,503,496,740 - - 100.00 100.00 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 120 Note 12 – Permanent Assets (1) a) Investment - Change of investments - ITAÚ UNIBANCO HOLDING Balance at 12/31/2018 Changes 09/30/2019 Book value Equity in earnings of subisidiaries Changes in Changes in exchange Equity in exchange rates and Adjustments earnings of rates and Dividends Functional Amortizati Investiment in marketable Balance at Balance at subsidiaries Companies Adjustments Unrealized Adjustments Unrealized Investiment paid/accrued currency Stockholders' Goodwill Total on of Hedge - securities of 09/30/2019 09/30/2018 from 01/01 (4) to investor results Net Income to investor results Hedge - (3) Total equity goodwill Functional subsidiaries to (2) (2) and other Functional criteria criteria currency and other 09/30/2018 currency other than the other than the Real Real In Brazil 100,750,003 810,186 762,240 (84,365) - 102,238,064 - ( 17,974,182) 15,850,031 90,109 (14,407) 15,925,733 218,995 1,101,737 101,510,347 100,421,424 11,948,567 Itaú Unibanco S.A. 85,697,840 814,997 687,089 ( 40,613) - 87,159,313 - (17,514,174) 13,034,546 85,100 (7,778) 13,111,868 225,151 807,969 83,790,127 85,492,306 10,185,914 Banco Itaucard S.A. 9,326,105 80 6,303 (38,325) - 9,294,163 - ( 440,000) 1,824,085 1,030 ( 7,441) 1,817,674 ( 2,633) 205,423 10,874,627 9,433,669 989,447 Banco Itaú BBA S.A. 2,155,294 ( 4,349) 58,209 ( 5,427) - 2,203,727 - - 494,460 3,898 812 499,170 ( 3,136) 89,064 2,788,825 2,067,654 403,574 Itaú Consult. de Valores Mobiliários e Part. S.A. 2,319,729 ( 542) - - - 2,319,187 - ( 7) 250,625 (1) - 250,624 (387) ( 500) 2,568,917 2,266,515 195,263 Itaú Corretora de Valores S.A. 1,251,029 - 10,639 - - 1,261,668 - (20,000) 246,313 82 246,395 - (219) 1,487,844 1,161,269 174,367 Itaú Seguros S.A. 6 - - - - 6 - (1) 2 - - 2 - - 7 11 2 Foreign 6,892,999 837,501 - (10,571) 327,393 8,047,322 (33,868) ( 196,531) 750,718 - 239 750,957 16,082 38,015 8,621,977 8,579,049 666,835 Itaú Corpbanca 3,231,204 488,128 - - 327,393 4,046,725 ( 33,868) (66,410) 33,356 - ( 609) 32,747 84,611 33,213 4,097,018 4,347,600 5,988 Chilean peso BICSA Holdings, LTD. Chilean peso 1,775,118 246,661 - (10,571) - 2,011,208 - - 100,262 - 848 101,110 49,489 3 2,161,810 2,098,318 92,378 Banco Itaú Uruguay S.A. Uruguayan peso 1,586,997 84,876 - - - 1,671,873 - - 483,602 - - 483,602 (99,074) 4,785 2,061,186 1,823,290 439,300 OCA S.A. 299,680 17,836 - - - 317,516 - ( 130,121) 133,498 - - 133,498 (18,944) 14 301,963 309,841 129,169 Uruguayan peso Grand total 107,643,002 1,647,687 762,240 (94,936) 327,393 110,285,386 ( 33,868) ( 18,170,713) 16,600,749 90,109 (14,168) 16,676,690 235,077 1,139,752 110,132,324 109,000,473 12,615,402 (1) Itaú Unibanco Holding S.A. - Cayman Branch, consolidated in these financial statements, has its functional currency equal to that of the controlling company. The exchange variation of this investment is R$ 98,909 thousand (R$ 156,524 thousand from January 1 to September 30, 2018) and is allocated in the heading Securities and Derivative Financial Instruments in the Statement of Income; (2) Adjustment arising from the standardization of the investee’s financial statements according to the investor’s accounting policies; (3) Dividends approved and not paid are recorded as Dividends receivable; (4) The exchange variation of indirect investments in functional currency equal to the controlling company corresponds to R$ 3,249,727 (R$ 10,905,941 from January 1 to setember 30, 2018). Number of shares/quotas owned by Equity share in capital Stockholders’ Companies Capital Net Income ITAÚ UNIBANCO HOLDING 09/30/2019 (%) equity Common Preferred Quotas Voting Share In Brazil Itaú Unibanco S.A. 61,925,426 83,838,517 13,034,546 2,932,936,995 2,840,549,071 - 100.00 100.00 Banco Itaucard S.A. 4,608,000 10,920,392 1,824,085 237,962,639,781 1,277,933,118 - 99.99 99.99 Banco Itaú BBA S.A. 1,490,000 2,793,441 494,460 4,474,435 4,474,436 - 99.99 99.99 Itaú Consult. de Valores Mobiliários e Part. S.A. 1,328,562 2,568,917 250,625 548,954 1,097,907 - 100.00 100.00 Itaú Corretora de Valores S.A. 802,482 1,487,844 246,313 27,482,523 811,503 - 99.99 99.99 Itaú Seguros S.A. 1,438,000 2,456,757 646,529 297 1 - 0.01 0.01 Foreign Itaú CorpBanca 10,644,189 16,944,654 148,573 115,039,610,411 - - 22.45 22.45 BICSA Holdings, LTD. 1,377,836 2,171,534 100,262 - - 330,860,745 99.99 99.99 Banco Itaú Uruguay S.A. 504,560 2,061,185 483,602 4,465,133,954 - - 100.00 100.00 OCA S.A. 16,990 301,963 133,498 1,503,496,740 - - 100.00 100.00 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 120

b) Fixed assets for use, goodwill and intangible assets I) Fixed assets for use (2) (3) Other fixed assets for use Real estate for use Fixed assets Other Furniture and (1) under Installations for Total Fixed assets for use Data processing (communication, (3) Land Buildings equipment for Improvements (3) construction systems security and use use transportation) Annual depreciation rates 4% 10% 10 to 20% 10 to 20% 20 to 50% 10 to 20% Cost Balance at 12/31/2018 553,851 905,877 3,041,086 2,444,358 1,989,243 1,145,207 7,035,746 1,252,778 18,368,146 Acquisitions 308,462 9,913 36,936 36,033 5,723 49,883 643,425 67,040 1,157,415 Disposals - (6,592) (11,334) (4,606) (2,252) (1,832) (230,043) (4,151) (260,810) Exchange variation (1,164) (52) (1,543) 12,594 (738) (1,704) (12,025) 557 (4,075) Transfers (120,709) - 9,262 79,011 18,341 357 13,738 - - Other (14,792) (14,475) (185,509) (20,296) (279,448) (12,435) (180,524) (1,511) (708,990) Balance at 09/30/2019 725,648 894,671 2,888,898 2,547,094 1,730,869 1,179,476 7,270,317 1,314,713 18,551,686 Depreciation Balance at 12/31/2018 - - (1,928,265) (1,629,792) (1,290,935) (778,916) (5,473,194) (862,403) (11,963,505) Depreciation expenses - - (56,396) (131,829) (102,163) (66,088) (550,112) (93,165) (999,753) Disposals - - 7,547 3,945 933 1,457 194,113 2,969 210,964 Exchange variation - - 1,545 (7,815) 937 317 6,185 (647) 522 Other - - 160,164 20,436 267,242 13,259 125,426 272 586,799 Balance at 09/30/2019 - - (1,815,405) (1,745,055) (1,123,986) (829,971) (5,697,582) (952,974) (12,164,973) Book value (4) Balance at 09/30/2019 725,648 894,671 1,073,493 802,039 606,883 349,505 1,572,735 361,739 6,386,713 (4) Balance at 09/30/2018 480,563 920,248 1,161,206 815,417 725,373 395,153 1,401,687 400,900 6,300,547 (1) The contractual commitments for the purchase of the fixed assets totaled R$ 660, achievable by 2019; (2) Includes amounts pledged in guarantee of voluntary deposits; (3) Includes the amount of R$ 2,915 at 09/30/2018 related to real estate property pledged. (4) During the period, there was no impairment of assets recorded in Fixed assets. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 121 b) Fixed assets for use, goodwill and intangible assets I) Fixed assets for use (2) (3) Other fixed assets for use Real estate for use Fixed assets Other Furniture and (1) under Installations for Total Fixed assets for use Data processing (communication, (3) Land Buildings equipment for Improvements (3) construction systems security and use use transportation) Annual depreciation rates 4% 10% 10 to 20% 10 to 20% 20 to 50% 10 to 20% Cost Balance at 12/31/2018 553,851 905,877 3,041,086 2,444,358 1,989,243 1,145,207 7,035,746 1,252,778 18,368,146 Acquisitions 308,462 9,913 36,936 36,033 5,723 49,883 643,425 67,040 1,157,415 Disposals - (6,592) (11,334) (4,606) (2,252) (1,832) (230,043) (4,151) (260,810) Exchange variation (1,164) (52) (1,543) 12,594 (738) (1,704) (12,025) 557 (4,075) Transfers (120,709) - 9,262 79,011 18,341 357 13,738 - - Other (14,792) (14,475) (185,509) (20,296) (279,448) (12,435) (180,524) (1,511) (708,990) Balance at 09/30/2019 725,648 894,671 2,888,898 2,547,094 1,730,869 1,179,476 7,270,317 1,314,713 18,551,686 Depreciation Balance at 12/31/2018 - - (1,928,265) (1,629,792) (1,290,935) (778,916) (5,473,194) (862,403) (11,963,505) Depreciation expenses - - (56,396) (131,829) (102,163) (66,088) (550,112) (93,165) (999,753) Disposals - - 7,547 3,945 933 1,457 194,113 2,969 210,964 Exchange variation - - 1,545 (7,815) 937 317 6,185 (647) 522 Other - - 160,164 20,436 267,242 13,259 125,426 272 586,799 Balance at 09/30/2019 - - (1,815,405) (1,745,055) (1,123,986) (829,971) (5,697,582) (952,974) (12,164,973) Book value (4) Balance at 09/30/2019 725,648 894,671 1,073,493 802,039 606,883 349,505 1,572,735 361,739 6,386,713 (4) Balance at 09/30/2018 480,563 920,248 1,161,206 815,417 725,373 395,153 1,401,687 400,900 6,300,547 (1) The contractual commitments for the purchase of the fixed assets totaled R$ 660, achievable by 2019; (2) Includes amounts pledged in guarantee of voluntary deposits; (3) Includes the amount of R$ 2,915 at 09/30/2018 related to real estate property pledged. (4) During the period, there was no impairment of assets recorded in Fixed assets. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 121

II) Goodwill and Intangible assets (1) Intangible assets Goodwill and Association for the intagible from Other intangible Total 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 11,207,941 2,498,530 5,051,918 4,528,509 2,306,861 25,593,759 Acquisitions - 200 624,512 800,353 346,388 1,771,453 Disposals - - (82,710) - ( 97,854) (180,564) Exchange variation 168,261 4,323 28,816 - 38,973 240,373 Other (44,395) ( 4,535) 91,475 - 19,804 62,349 Balance at 09/30/2019 11,331,807 2,498,518 5,714,011 5,328,862 2,614,172 27,487,370 Amortization Balance at 12/31/2018 (3,904,790) ( 842,708) (2,426,963) (1,822,651) (1,004,531) (10,001,643) (3) Amortization expenses (961,971) ( 160,458) (498,225) (504,678) (236,352) (2,361,684) Disposals - - 27,279 - 97,854 125,133 Exchange variation (57,719) ( 305) (14,318) - (34,589) (106,931) Other 34,064 7,127 (74,037) - (12,055) (44,901) Balance at 09/30/2019 (4,890,416) ( 996,344) (2,986,264) (2,327,329) (1,189,673) (12,390,026) Impairment (Note 10i) Balance at 12/31/2018 - - (225,751) (342,835) - (568,586) Additions / assumptions - - - - - - Disposals - - 58,748 - - 58,748 Exchange variation - - - - - - Balance at 09/30/2019 - - (167,003) (342,835) - (509,838) Book value Balance at 09/30/2019 6,441,391 1,502,174 2,560,744 2,658,698 1,424,499 14,587,506 Balance at 09/30/2018 8,033,840 1,826,672 2,501,149 2,470,555 1,248,731 16,080,947 (1) The contractual commitments for the purchase of the new intangible assets totaled R$ 363,806 achievable by 2020; (2) Includes 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$ (375,098) (R$ (334,725) from 01/01 to 09/30/2018) are disclosed in the expenses on financial operation. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 122 II) Goodwill and Intangible assets (1) Intangible assets Goodwill and Association for the intagible from Other intangible Total 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 11,207,941 2,498,530 5,051,918 4,528,509 2,306,861 25,593,759 Acquisitions - 200 624,512 800,353 346,388 1,771,453 Disposals - - (82,710) - ( 97,854) (180,564) Exchange variation 168,261 4,323 28,816 - 38,973 240,373 Other (44,395) ( 4,535) 91,475 - 19,804 62,349 Balance at 09/30/2019 11,331,807 2,498,518 5,714,011 5,328,862 2,614,172 27,487,370 Amortization Balance at 12/31/2018 (3,904,790) ( 842,708) (2,426,963) (1,822,651) (1,004,531) (10,001,643) (3) Amortization expenses (961,971) ( 160,458) (498,225) (504,678) (236,352) (2,361,684) Disposals - - 27,279 - 97,854 125,133 Exchange variation (57,719) ( 305) (14,318) - (34,589) (106,931) Other 34,064 7,127 (74,037) - (12,055) (44,901) Balance at 09/30/2019 (4,890,416) ( 996,344) (2,986,264) (2,327,329) (1,189,673) (12,390,026) Impairment (Note 10i) Balance at 12/31/2018 - - (225,751) (342,835) - (568,586) Additions / assumptions - - - - - - Disposals - - 58,748 - - 58,748 Exchange variation - - - - - - Balance at 09/30/2019 - - (167,003) (342,835) - (509,838) Book value Balance at 09/30/2019 6,441,391 1,502,174 2,560,744 2,658,698 1,424,499 14,587,506 Balance at 09/30/2018 8,033,840 1,826,672 2,501,149 2,470,555 1,248,731 16,080,947 (1) The contractual commitments for the purchase of the new intangible assets totaled R$ 363,806 achievable by 2020; (2) Includes 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$ (375,098) (R$ (334,725) from 01/01 to 09/30/2018) are disclosed in the expenses on financial operation. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 122

Note 13 – 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, 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 ITAÚ UNIBANCO HOLDING'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: 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 4,775,651 Residents abroad at 12/31/2018 30,214,039 3 ,236,789,823 3,267,003,862 3 2,372,349 Shares of capital stock at 12/31/2018 4,958,290,359 4 ,845,844,989 9,804,135,348 9 7,148,000 Shares of capital stock at 09/30/2019 4,958,290,359 4 ,845,844,989 9 ,804,135,348 9 7,148,000 Residents in Brazil at 09/30/2019 4 ,927,162,769 1,646,221,565 6 ,573,384,334 6 5,134,876 Residents abroad at 09/30/2019 31,127,590 3 ,199,623,424 3 ,230,751,014 3 2,013,124 (1) Treasury shares at 12/31/2018 - 8 3,614,426 8 3,614,426 ( 1,819,690) Result of delivery of treasure shares - ( 23,572,720) ( 23,572,720) 5 12,767 (1) Treasury shares at 09/30/2019 - 60,041,706 60,041,706 (1,306,923) Outstanding shares at 09/30/2019 4 ,958,290,359 4,785,803,283 9 ,744,093,642 (2) 4 ,958,290,359 4 ,755,656,409 9,713,946,768 Outstanding shares at 09/30/2018 (1) Own shares, purchased based on authorization of the Board of Directors, to be held in Treasury for subsequent cancellation or replacement in the market. (2) For better comparability, outstanding shares in the period of 09/30/2018 were adjusted by the split approved on October 31, 2018. In 2019 there was no purchase of treasury shares in the period. See below average cost of shares in treasury and their market price in reais: 01/01 to 09/30/2019 Cost / Market value Common Preferred Average cost - 21.76 Market value at 09/30/2019 30.12 35.03 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 123 Note 13 – 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, 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 ITAÚ UNIBANCO HOLDING'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: 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 4,775,651 Residents abroad at 12/31/2018 30,214,039 3 ,236,789,823 3,267,003,862 3 2,372,349 Shares of capital stock at 12/31/2018 4,958,290,359 4 ,845,844,989 9,804,135,348 9 7,148,000 Shares of capital stock at 09/30/2019 4,958,290,359 4 ,845,844,989 9 ,804,135,348 9 7,148,000 Residents in Brazil at 09/30/2019 4 ,927,162,769 1,646,221,565 6 ,573,384,334 6 5,134,876 Residents abroad at 09/30/2019 31,127,590 3 ,199,623,424 3 ,230,751,014 3 2,013,124 (1) Treasury shares at 12/31/2018 - 8 3,614,426 8 3,614,426 ( 1,819,690) Result of delivery of treasure shares - ( 23,572,720) ( 23,572,720) 5 12,767 (1) Treasury shares at 09/30/2019 - 60,041,706 60,041,706 (1,306,923) Outstanding shares at 09/30/2019 4 ,958,290,359 4,785,803,283 9 ,744,093,642 (2) 4 ,958,290,359 4 ,755,656,409 9,713,946,768 Outstanding shares at 09/30/2018 (1) Own shares, purchased based on authorization of the Board of Directors, to be held in Treasury for subsequent cancellation or replacement in the market. (2) For better comparability, outstanding shares in the period of 09/30/2018 were adjusted by the split approved on October 31, 2018. In 2019 there was no purchase of treasury shares in the period. See below average cost of shares in treasury and their market price in reais: 01/01 to 09/30/2019 Cost / Market value Common Preferred Average cost - 21.76 Market value at 09/30/2019 30.12 35.03 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 123

b) Dividends Shareholders are entitled to a minimum mandatory dividend in each fiscal year, corresponding to 25% of adjusted net income, as set forth in the Bylaws. Common and preferred shares participate equally in income distributed, after common shares have received dividends equal to the minimum annual priority dividend payable to preferred shares (R$ 0.022 non-cumulative per share). The calculation of the monthly advance of minimum mandatory dividend is based on the share position on the last day of the preceding month, and payment is made on the first business day of the subsequent month, amounting to R$ 0.015 per share. I - Breakdown of dividends and interest on capital 09/30/2019 Statutory individual net income 18,450,979 Adjustments: (-) Legal reserve - 5% (922,549) Dividend calculation basis 17,528,430 Minimun mandatory dividend - 25% 4,382,108 Dividends and Interest on Capital Paid / Accrued / Identified 11,047,516 II – Stockholders' yields Gross value per WHT (With Gross Net share (R$) holding tax) Paid / Prepaid 8 ,835,733 - 8 ,835,733 0.0150 1 ,168,190 - 1,168,190 Dividends - 8 monthly installments paid in February to Setember 2019 Dividends - paid on 08/23/2019 0.7869 7 ,667,543 - 7 ,667,543 Accrued (Recorded in Other Liabilities – Social and statutory) 1 46,160 - 146,160 Dividends - 1 monthly installment paid on 10/01/2019 0.0150 146,160 - 146,160 Identified in Profit Reserve In Stockholders’ Equity] 0.2120 2 ,065,623 - 2,065,623 Total from 01/01 to 09/30/2019 1 1,047,516 - 11,047,516 Total from 01/01 to 09/30/2018 7 ,709,082 ( 136,974) 7 ,572,108 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 124 b) Dividends Shareholders are entitled to a minimum mandatory dividend in each fiscal year, corresponding to 25% of adjusted net income, as set forth in the Bylaws. Common and preferred shares participate equally in income distributed, after common shares have received dividends equal to the minimum annual priority dividend payable to preferred shares (R$ 0.022 non-cumulative per share). The calculation of the monthly advance of minimum mandatory dividend is based on the share position on the last day of the preceding month, and payment is made on the first business day of the subsequent month, amounting to R$ 0.015 per share. I - Breakdown of dividends and interest on capital 09/30/2019 Statutory individual net income 18,450,979 Adjustments: (-) Legal reserve - 5% (922,549) Dividend calculation basis 17,528,430 Minimun mandatory dividend - 25% 4,382,108 Dividends and Interest on Capital Paid / Accrued / Identified 11,047,516 II – Stockholders' yields Gross value per WHT (With Gross Net share (R$) holding tax) Paid / Prepaid 8 ,835,733 - 8 ,835,733 0.0150 1 ,168,190 - 1,168,190 Dividends - 8 monthly installments paid in February to Setember 2019 Dividends - paid on 08/23/2019 0.7869 7 ,667,543 - 7 ,667,543 Accrued (Recorded in Other Liabilities – Social and statutory) 1 46,160 - 146,160 Dividends - 1 monthly installment paid on 10/01/2019 0.0150 146,160 - 146,160 Identified in Profit Reserve In Stockholders’ Equity] 0.2120 2 ,065,623 - 2,065,623 Total from 01/01 to 09/30/2019 1 1,047,516 - 11,047,516 Total from 01/01 to 09/30/2018 7 ,709,082 ( 136,974) 7 ,572,108 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 124

c) Capital reserves and profit reserves - ITAÚ UNIBANCO HOLDING 09/30/2019 09/30/2018 Capital reserves 1,847,973 1,732,340 Premium on subscription of shares 283,512 283,512 Share-based payment plan 1,563,356 1,447,723 Reserves from tax incentives and restatement of equity securities and other 1,105 1,105 Profit reserves 27,389,022 29,160,487 (1) Legal 10,912,741 9,657,138 (2) Statutory 16,476,281 19,503,349 (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. d) Reconciliation of net income and stockholders’ equity (Note 2b) Net income Stockholders’ equity 01/01 to 01/01 to 09/30/2019 09/30/2018 09/30/2019 09/30/2018 ITAÚ UNIBANCO HOLDING 18,450,979 1 5,284,291 1 25,768,595 1 25,533,551 Amortization of goodwill 92,740 171,095 (49,368) (1 93,510) Corporate reorganizations (Note 3l) - 1 ,384,719 - (3 04,638) Conversion adjustments of foreign investments (Note 3s) 5 57,250 1,931,462 - - Foreign exchange variations of investments (439) (238) - - Hedge of net investments in foreign operations 9 74,930 3,376,042 - - Tax effects – hedge of net investments in foreign operations (4 17,241) (1,444,342) - - ITAÚ UNIBANCO HOLDING CONSOLIDATED 1 9,100,969 1 8,771,567 1 25,719,227 125,035,403 e) Equity valuation adjustments - ITAÚ UNIBANCO HOLDING CONSOLIDATED 09/30/2019 09/30/2018 Available-for-sale securities 1 ,551,041 (1 ,120,482) Hedge cash flow (1,681,539) (1,323,757) Remeasurement of post-employment benefits obligations (1 ,065,252) (829,869) Foreign exchange variation on investments abroad / Hedge of net investment in foreign operations (8 34,995) (3 49,854) (*) Equity valuation adjustments (2,030,745) (3,623,962) (*) Net of tax effects. f) Non-controlling interests Stockholders’ equity Results 01/01 to 01/01 to 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Itaú CorpBanca (Note 2c) 10,482,752 11,418,006 (91,914) (17,068) Itaú CorpBanca Colombia S.A. (Note 2c) 1,283,113 1,380,598 (49,909) (15,112) Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento 490,950 399,802 (107,108) (66,474) Luizacred S.A. Soc. de Crédito, Financiamento e Investimento 420,467 359,905 (31,953) (57,825) Other 134,295 102,482 (47,729) (26,885) Total 12,811,577 13,660,793 (328,613) (183,364) Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 125 c) Capital reserves and profit reserves - ITAÚ UNIBANCO HOLDING 09/30/2019 09/30/2018 Capital reserves 1,847,973 1,732,340 Premium on subscription of shares 283,512 283,512 Share-based payment plan 1,563,356 1,447,723 Reserves from tax incentives and restatement of equity securities and other 1,105 1,105 Profit reserves 27,389,022 29,160,487 (1) Legal 10,912,741 9,657,138 (2) Statutory 16,476,281 19,503,349 (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. d) Reconciliation of net income and stockholders’ equity (Note 2b) Net income Stockholders’ equity 01/01 to 01/01 to 09/30/2019 09/30/2018 09/30/2019 09/30/2018 ITAÚ UNIBANCO HOLDING 18,450,979 1 5,284,291 1 25,768,595 1 25,533,551 Amortization of goodwill 92,740 171,095 (49,368) (1 93,510) Corporate reorganizations (Note 3l) - 1 ,384,719 - (3 04,638) Conversion adjustments of foreign investments (Note 3s) 5 57,250 1,931,462 - - Foreign exchange variations of investments (439) (238) - - Hedge of net investments in foreign operations 9 74,930 3,376,042 - - Tax effects – hedge of net investments in foreign operations (4 17,241) (1,444,342) - - ITAÚ UNIBANCO HOLDING CONSOLIDATED 1 9,100,969 1 8,771,567 1 25,719,227 125,035,403 e) Equity valuation adjustments - ITAÚ UNIBANCO HOLDING CONSOLIDATED 09/30/2019 09/30/2018 Available-for-sale securities 1 ,551,041 (1 ,120,482) Hedge cash flow (1,681,539) (1,323,757) Remeasurement of post-employment benefits obligations (1 ,065,252) (829,869) Foreign exchange variation on investments abroad / Hedge of net investment in foreign operations (8 34,995) (3 49,854) (*) Equity valuation adjustments (2,030,745) (3,623,962) (*) Net of tax effects. f) Non-controlling interests Stockholders’ equity Results 01/01 to 01/01 to 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Itaú CorpBanca (Note 2c) 10,482,752 11,418,006 (91,914) (17,068) Itaú CorpBanca Colombia S.A. (Note 2c) 1,283,113 1,380,598 (49,909) (15,112) Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento 490,950 399,802 (107,108) (66,474) Luizacred S.A. Soc. de Crédito, Financiamento e Investimento 420,467 359,905 (31,953) (57,825) Other 134,295 102,482 (47,729) (26,885) Total 12,811,577 13,660,793 (328,613) (183,364) Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 125

g) 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 is only made in years in which there are sufficient profits to permit the distribution of mandatory dividends, limiting dilution 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 09/30/2019 09/30/2018 Partner Plan (Note 10g) (200,628) (167,728) Share-based plan (308,575) (292,638) Total (509,203) (460,366) l – Partner Plan The program enables employees and managers of ITAÚ UNIBANCO HOLDING to invest a percentage of their bonus to acquire shares and share-based instruments. There is a lockup period of from three to five years, counted from the initial investment date, and the shares are thus subject to market price variations. After complying with the preconditions outlined in the program, beneficiaries are entitled to receive shares as consideration, in accordance with the number of shares indicated in the regulations. The acquisition price of shares and share-based Instruments is established every six months as the average of the share price over the last 30 days. The calculation takes place on the seventh business day prior to the grant date. The fair value of the consideration in shares is the market price at the grant date, less expected dividends. Changes in the Partner Program 01/01 to 01/01 to 09/30/2019 09/30/2018 Quantity Quantity Opening balance 48,871,182 51,074,441 New granted 8,096,700 9,912,356 Delivered (15,627,167) (11,597,420) Cancelled (1,271,138) (518,153) Closing balance 40,069,577 48,871,224 Weighted average of remaining contractual life (years) 1.85 2.61 Market value weighted average (R$) 25.49 26.22 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 126 g) 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 is only made in years in which there are sufficient profits to permit the distribution of mandatory dividends, limiting dilution 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 09/30/2019 09/30/2018 Partner Plan (Note 10g) (200,628) (167,728) Share-based plan (308,575) (292,638) Total (509,203) (460,366) l – Partner Plan The program enables employees and managers of ITAÚ UNIBANCO HOLDING to invest a percentage of their bonus to acquire shares and share-based instruments. There is a lockup period of from three to five years, counted from the initial investment date, and the shares are thus subject to market price variations. After complying with the preconditions outlined in the program, beneficiaries are entitled to receive shares as consideration, in accordance with the number of shares indicated in the regulations. The acquisition price of shares and share-based Instruments is established every six months as the average of the share price over the last 30 days. The calculation takes place on the seventh business day prior to the grant date. The fair value of the consideration in shares is the market price at the grant date, less expected dividends. Changes in the Partner Program 01/01 to 01/01 to 09/30/2019 09/30/2018 Quantity Quantity Opening balance 48,871,182 51,074,441 New granted 8,096,700 9,912,356 Delivered (15,627,167) (11,597,420) Cancelled (1,271,138) (518,153) Closing balance 40,069,577 48,871,224 Weighted average of remaining contractual life (years) 1.85 2.61 Market value weighted average (R$) 25.49 26.22 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 126

II- Variable Compensation In this plan, fifty percent (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 share-based variable compensation 01/01 to 01/01 to 09/30/2019 09/30/2018 Quantity Quantity Opening balance 25,016,145 31,229,973 New granted 9,794,250 10,547,190 Delivered (14,237,280) (16,611,520) Cancelled (81,226) (134,925) Closing balance 20,491,889 25,030,718 Market value weighted average (R$) 37.55 34.05 Ill – Stock Option Plan (Simple Options) ITAÚ UNIBANCO HOLDING has a Stock Option Plan (“Simple Options”), which has been discontinued, and only vested options remain. Simple options have the following characteristics: a) Exercise price: calculated as the average price of shares in the last three months of the year prior to the grant date. The prices determined are inflation-adjusted to the last business day of the month prior to the option exercise date in line with the IGP-M inflation index or, in its absence, an index to be determined internally, and must be paid according to the regulations for the settlement of trading on B3. b) Vesting period: determined upon issue, from one to seven years, counted from the grant date. The vesting period is normally five years. Change in the Simple options plan 01/01 to 09/30/2019 01/01 to 09/30/2018 Weighted Weighted Quantity average Quantity average exercise price exercise price Opening balance 3,089,599 22.11 24,514,359 25.21 Options vested at the end of the period 3,089,599 22.11 24,514,359 25.21 Options: (*) Canceled / Forfeited (15,590) 29.51 (1 0,530) 21.99 Exercised (1 ,456,493) 22.45 (14,498,569) 25.96 Closing balance 1,617,516 22.73 10,005,260 26.43 Options vested at the end of the period 1 ,617,516 22.73 1 0,005,260 26.43 Range of exercise prices Granting 2010-2011 - 14.47 - 29.40 Granting 2012 22.73 21.99 Weighted average of the remaining contractual life (in years) 0.25 0 .65 Market value weighted average (R$) 36.49 33.31 (*) Refers to non-vesting based on the beneficiary’s decision. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 127 II- Variable Compensation In this plan, fifty percent (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 share-based variable compensation 01/01 to 01/01 to 09/30/2019 09/30/2018 Quantity Quantity Opening balance 25,016,145 31,229,973 New granted 9,794,250 10,547,190 Delivered (14,237,280) (16,611,520) Cancelled (81,226) (134,925) Closing balance 20,491,889 25,030,718 Market value weighted average (R$) 37.55 34.05 Ill – Stock Option Plan (Simple Options) ITAÚ UNIBANCO HOLDING has a Stock Option Plan (“Simple Options”), which has been discontinued, and only vested options remain. Simple options have the following characteristics: a) Exercise price: calculated as the average price of shares in the last three months of the year prior to the grant date. The prices determined are inflation-adjusted to the last business day of the month prior to the option exercise date in line with the IGP-M inflation index or, in its absence, an index to be determined internally, and must be paid according to the regulations for the settlement of trading on B3. b) Vesting period: determined upon issue, from one to seven years, counted from the grant date. The vesting period is normally five years. Change in the Simple options plan 01/01 to 09/30/2019 01/01 to 09/30/2018 Weighted Weighted Quantity average Quantity average exercise price exercise price Opening balance 3,089,599 22.11 24,514,359 25.21 Options vested at the end of the period 3,089,599 22.11 24,514,359 25.21 Options: (*) Canceled / Forfeited (15,590) 29.51 (1 0,530) 21.99 Exercised (1 ,456,493) 22.45 (14,498,569) 25.96 Closing balance 1,617,516 22.73 10,005,260 26.43 Options vested at the end of the period 1 ,617,516 22.73 1 0,005,260 26.43 Range of exercise prices Granting 2010-2011 - 14.47 - 29.40 Granting 2012 22.73 21.99 Weighted average of the remaining contractual life (in years) 0.25 0 .65 Market value weighted average (R$) 36.49 33.31 (*) Refers to non-vesting based on the beneficiary’s decision. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 127

Note 14 – Related parties Transactions between related parties are carried out for amounts, terms and average rates in accordance with normal market practices during the period, and under reciprocal conditions. Transactions between companies and investment funds, included in consolidation (note 2.b), have been eliminated and do not affect the consolidated statements. The principal 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, in particular Duratex S.A., Itaúsa (1) Empreendimentos S.A. and Alpargatas S.A.; · Investments in associates and joint ventures, the main ones being Porto Seguro Itaú Unibanco Participações S.A., BSF Holding S.A., IRB-Brasil Resseguros S.A. and XP Investimentos S.A.; · Itaú Unibanco Foundation – Supplementary Pensions and FUNBEP – Multisponsored Pension Fund, closed-end supplementary pension entities, that administer retirement plans sponsored by ITAÚ UNIBANCO HOLDING CONSOLIDATED, created exclusively for employees; · Foundations and Institutes maintained by donations from ITAÚ UNIBANCO HOLDING and by the proceeds generated by their assets, so that they can accomplish their objectives and to maintain their operational and administrative structure: (2) Itaú para Educação e Cultura Foundation – promotes education, culture, social assistance, defense and guarantee of rights, and strengthening of civil society. (3) Itaú Cultural Institute – promotes and disseminates Brazilian culture in the country and abroad. Unibanco Institute – supports projects focused on social assistance, particularly education, culture, promotion of integration into the labor market, and environmental protection, directly or as a supplement to civil institutions. Unibanco de Cinema Institute – promotes culture in general and provides access of low-income families to screenings of films, videos, video-laser discs etc, in theaters and movie clubs which it owns or manages including showings of popular movies, in particular Brazilian productions. Itaú Viver Mais Association – provides social services for the welfare of beneficiaries, on the terms defined in its Internal Regulations, and according to the funds available. These services may include the promotion of cultural, educational, sports, entertainment and healthcare activities. · Itaú Cubo Coworking Association – a partner entity of ITAÚ UNIBANCO HOLDING CONSOLIDATED its purpose is to encourage and promote the discussion and development of alternative and innovative technologies, business models and solutions; the produce and disseminate the resulting technical and scientific knowledge; the attract and bring in new information technology talents that may be characterized as startups; and to research, develop and establish ecosystems for entrepreneur and startups. (1) Entity merged into Itaúsa Investimentos Itaú S.A.. (2) New legal name of Itaú Social Foundation after merger of Itaú Cultural Institute. (3) Entity merged into Itaú para Educação e Cultura Foundation. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 128 Note 14 – Related parties Transactions between related parties are carried out for amounts, terms and average rates in accordance with normal market practices during the period, and under reciprocal conditions. Transactions between companies and investment funds, included in consolidation (note 2.b), have been eliminated and do not affect the consolidated statements. The principal 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, in particular Duratex S.A., Itaúsa (1) Empreendimentos S.A. and Alpargatas S.A.; · Investments in associates and joint ventures, the main ones being Porto Seguro Itaú Unibanco Participações S.A., BSF Holding S.A., IRB-Brasil Resseguros S.A. and XP Investimentos S.A.; · Itaú Unibanco Foundation – Supplementary Pensions and FUNBEP – Multisponsored Pension Fund, closed-end supplementary pension entities, that administer retirement plans sponsored by ITAÚ UNIBANCO HOLDING CONSOLIDATED, created exclusively for employees; · Foundations and Institutes maintained by donations from ITAÚ UNIBANCO HOLDING and by the proceeds generated by their assets, so that they can accomplish their objectives and to maintain their operational and administrative structure: (2) Itaú para Educação e Cultura Foundation – promotes education, culture, social assistance, defense and guarantee of rights, and strengthening of civil society. (3) Itaú Cultural Institute – promotes and disseminates Brazilian culture in the country and abroad. Unibanco Institute – supports projects focused on social assistance, particularly education, culture, promotion of integration into the labor market, and environmental protection, directly or as a supplement to civil institutions. Unibanco de Cinema Institute – promotes culture in general and provides access of low-income families to screenings of films, videos, video-laser discs etc, in theaters and movie clubs which it owns or manages including showings of popular movies, in particular Brazilian productions. Itaú Viver Mais Association – provides social services for the welfare of beneficiaries, on the terms defined in its Internal Regulations, and according to the funds available. These services may include the promotion of cultural, educational, sports, entertainment and healthcare activities. · Itaú Cubo Coworking Association – a partner entity of ITAÚ UNIBANCO HOLDING CONSOLIDATED its purpose is to encourage and promote the discussion and development of alternative and innovative technologies, business models and solutions; the produce and disseminate the resulting technical and scientific knowledge; the attract and bring in new information technology talents that may be characterized as startups; and to research, develop and establish ecosystems for entrepreneur and startups. (1) Entity merged into Itaúsa Investimentos Itaú S.A.. (2) New legal name of Itaú Social Foundation after merger of Itaú Cultural Institute. (3) Entity merged into Itaú para Educação e Cultura Foundation. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 128

a) Transactions with related parties: ITAÚ UNIBANCO HOLDING ITAÚ UNIBANCO HOLDING CONSOLIDATED Assets / (Liabilities) Revenue / (Expense) Assets / (Liabilities) Revenue / (Expense) Annual rate Annual rate 01/01 to 01/01 to 01/01 to 01/01 to 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Short-term Interbank investments 46,839,460 68,727,676 2 ,507,826 3,542,957 8 05,166 - 1 8,313 - 5.4% Itaú Unibanco S.A. 4,130,514 29,073,245 844,050 1 ,997,899 - - - - Itaú Unibanco S.A. Grand Cayman Branch 5.83% to 6.36% 1 1,558,365 1 1,111,380 488,483 4 52,659 - - - - Itaú Unibanco S.A. Nassau Branch 2.66% to 6.5% 3 1,150,581 2 8,543,051 1,175,293 1,092,399 - - - - 5.4% Other - - - - 8 05,166 - 1 8,313 - Loans - - - - 9 5,952 156,644 4,788 7,883 Alpargatas S.A. - - - - 2.35% to 6% / 2% CDI 32,702 51,206 917 2,152 Other - - - - 113% CDI 6 3,250 105,438 3,871 5 ,731 Derivative financial instruments - assets and liabilities - 1 ,109,337 (5 71,580) 4 ,121,313 - - - - Investment funds - 1,109,337 (571,580) 4,121,313 - - - - Deposits - (13,981,733) (1 60,468) (339,658) - - (8 80) (6 86) Itaú Unibanco S.A. Nassau Branch - (1 3,981,733) (1 60,468) (3 39,658) - - - Olímpia Promoção e Serviços S.A. - - - - - - (8 80) (6 86) Deposits received under securities repurchase agreements - - - (2 ,105) (3 73,684) (2 00,010) (1 0,301) (1 ,578) 76% to 97.5% CDI Duratex S.A. - - - - (21,294) (19,064) (1 ,620) (912) Other - - - (2,105) 75% to 96% CDI / 5.2% to 5.4% (3 52,390) (180,946) (8,681) (6 66) Amounts receivable from (payable to) related companies / Banking service fees and other administrative (expenses) (113,134) (15,186) 4,036 (9,438) (1 31,114) (1 27,022) (3,822) 36,514 Banco Itaú BBA S.A. - - (2,168) - - - - - ConectCar Soluções de Mobilidade Eletrônica S.A. - - - - (3 2,634) (2 4,803) 3,746 2,545 Itaú Unibanco Foundation - Supplementary Pensions - - - - (102,030) (109,693) 3 1,790 37,450 Itaú Corretora de Valores S.A. (657) (3 81) (5,443) (3,795) - - - - Itaú Unibanco S.A. Nassau Branch (1 12,461) (1 4,368) 1 1,647 2,619 - - - - Itaúsa Investimentos Itaú S.A. - - - - 832 280 (28,984) 4 ,691 Olímpia Promoção e Serviços S.A. - - - - (1,191) (1 ,874) (19,749) (17,780) Other (16) (437) - (8 ,262) 3,909 9 ,068 9 ,375 9,608 Rent revenues (expenses) - - (3 14) (183) (8) - (3 1,566) (34,360) Itaú Unibanco Foundation - Supplementary Pensions - - - - - - (25,081) (27,103) Itaú Rent Administração e Participações Ltda. - - (49) (67) - - - - Itaú Seguros S.A. - - (2 65) (116) - - - - Other - - - - (8 ) - (6,485) (7,257) Donation expenses - - - - - - (3 5,146) (9 3,000) Itaú para Educação e Cultura Foundation - - - - - - (35,146) (93,000) Sponsorship expenses - - - - (7 ,230) - (690) (3 1,970) Itaú Cubo Coworking Association - - - - (7,000) - - (31,050) Itaú Viver Mais Association - - - - (2 30) - (690) (9 20) In addition to the aforementioned operations, ITAÚ UNIBANCO HOLDING and non-consolidated related parties, as an integral part of the Agreement for apportionment of common costs of Itaú Unibanco, recorded in Other Administrative Expenses in the amount of R$ (5,943) (R$ (6,892) from 01/01 to 09/30/2018) in view of the use of the common structure. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 129 a) Transactions with related parties: ITAÚ UNIBANCO HOLDING ITAÚ UNIBANCO HOLDING CONSOLIDATED Assets / (Liabilities) Revenue / (Expense) Assets / (Liabilities) Revenue / (Expense) Annual rate Annual rate 01/01 to 01/01 to 01/01 to 01/01 to 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 09/30/2019 09/30/2018 Short-term Interbank investments 46,839,460 68,727,676 2 ,507,826 3,542,957 8 05,166 - 1 8,313 - 5.4% Itaú Unibanco S.A. 4,130,514 29,073,245 844,050 1 ,997,899 - - - - Itaú Unibanco S.A. Grand Cayman Branch 5.83% to 6.36% 1 1,558,365 1 1,111,380 488,483 4 52,659 - - - - Itaú Unibanco S.A. Nassau Branch 2.66% to 6.5% 3 1,150,581 2 8,543,051 1,175,293 1,092,399 - - - - 5.4% Other - - - - 8 05,166 - 1 8,313 - Loans - - - - 9 5,952 156,644 4,788 7,883 Alpargatas S.A. - - - - 2.35% to 6% / 2% CDI 32,702 51,206 917 2,152 Other - - - - 113% CDI 6 3,250 105,438 3,871 5 ,731 Derivative financial instruments - assets and liabilities - 1 ,109,337 (5 71,580) 4 ,121,313 - - - - Investment funds - 1,109,337 (571,580) 4,121,313 - - - - Deposits - (13,981,733) (1 60,468) (339,658) - - (8 80) (6 86) Itaú Unibanco S.A. Nassau Branch - (1 3,981,733) (1 60,468) (3 39,658) - - - Olímpia Promoção e Serviços S.A. - - - - - - (8 80) (6 86) Deposits received under securities repurchase agreements - - - (2 ,105) (3 73,684) (2 00,010) (1 0,301) (1 ,578) 76% to 97.5% CDI Duratex S.A. - - - - (21,294) (19,064) (1 ,620) (912) Other - - - (2,105) 75% to 96% CDI / 5.2% to 5.4% (3 52,390) (180,946) (8,681) (6 66) Amounts receivable from (payable to) related companies / Banking service fees and other administrative (expenses) (113,134) (15,186) 4,036 (9,438) (1 31,114) (1 27,022) (3,822) 36,514 Banco Itaú BBA S.A. - - (2,168) - - - - - ConectCar Soluções de Mobilidade Eletrônica S.A. - - - - (3 2,634) (2 4,803) 3,746 2,545 Itaú Unibanco Foundation - Supplementary Pensions - - - - (102,030) (109,693) 3 1,790 37,450 Itaú Corretora de Valores S.A. (657) (3 81) (5,443) (3,795) - - - - Itaú Unibanco S.A. Nassau Branch (1 12,461) (1 4,368) 1 1,647 2,619 - - - - Itaúsa Investimentos Itaú S.A. - - - - 832 280 (28,984) 4 ,691 Olímpia Promoção e Serviços S.A. - - - - (1,191) (1 ,874) (19,749) (17,780) Other (16) (437) - (8 ,262) 3,909 9 ,068 9 ,375 9,608 Rent revenues (expenses) - - (3 14) (183) (8) - (3 1,566) (34,360) Itaú Unibanco Foundation - Supplementary Pensions - - - - - - (25,081) (27,103) Itaú Rent Administração e Participações Ltda. - - (49) (67) - - - - Itaú Seguros S.A. - - (2 65) (116) - - - - Other - - - - (8 ) - (6,485) (7,257) Donation expenses - - - - - - (3 5,146) (9 3,000) Itaú para Educação e Cultura Foundation - - - - - - (35,146) (93,000) Sponsorship expenses - - - - (7 ,230) - (690) (3 1,970) Itaú Cubo Coworking Association - - - - (7,000) - - (31,050) Itaú Viver Mais Association - - - - (2 30) - (690) (9 20) In addition to the aforementioned operations, ITAÚ UNIBANCO HOLDING and non-consolidated related parties, as an integral part of the Agreement for apportionment of common costs of Itaú Unibanco, recorded in Other Administrative Expenses in the amount of R$ (5,943) (R$ (6,892) from 01/01 to 09/30/2018) in view of the use of the common structure. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 129

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 CONSOLIDATED in the period correspond to: 01/01 to 01/01 to 09/30/2019 09/30/2018 Fees (394,519) (368,797) Profit sharing (265,761) (180,749) Post-employment benefits (5,084) (6,862) Share-based payment plan (185,495) (157,981) (714,389) Total (850,859) Total amounts related to stock-based payment plan, personnel expenses and post-employment benefits are detailed in Notes 13g, 10g and 16, respectively. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 130 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 CONSOLIDATED in the period correspond to: 01/01 to 01/01 to 09/30/2019 09/30/2018 Fees (394,519) (368,797) Profit sharing (265,761) (180,749) Post-employment benefits (5,084) (6,862) Share-based payment plan (185,495) (157,981) (714,389) Total (850,859) Total amounts related to stock-based payment plan, personnel expenses and post-employment benefits are detailed in Notes 13g, 10g and 16, respectively. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 130

Note 15 - Market value In cases where market prices are not available, market value 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 market 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 market value for financial instruments: 09/30/2019 09/30/2018 Estimated Market Estimated Market Book Value Book Value Value Value 274,139,259 274,202,680 320,965,205 320,977,876 Short-term Interbank investments (a)(b) Securities (c) Adjustment of available-for-sale securities 129,389,021 129,389,021 98,575,791 98,575,791 Adjustment of held-to-maturity securities 39,505,550 42,810,852 42,270,667 42,393,761 Derivative financial instruments - Assets (c) 40,873,999 40,873,999 28,641,569 28,641,569 Loan, lease and other credit operations (d) 541,542,342 551,182,720 495,023,602 500,325,943 Deposits (b) 490,838,011 490,909,896 454,551,571 454,567,722 Deposits received under securities repurchase agreements (a) 296,502,843 296,502,843 314,575,274 314,575,274 Funds from acceptance and issuance of securities (b) 130,883,429 131,016,169 118,684,376 118,787,653 Borrowings and onlendings (b) 77,769,778 77,896,530 67,257,706 67,339,927 47,440,587 47,440,587 31,827,170 31,827,170 Derivative financial instruments - Liabilities (c) 55,458,799 57,371,953 53,720,834 53,668,557 Subordinated debt (b) The methods and assumptions adopted to estimate the market value are defined below: a) Securities purchased under agreements to resell, which compose the balance of Interbank Investments, and Securities under repurchase agreements - The carrying amounts for these instruments approximate their market values. b) Interbank deposits, which compose the balance of Interbank Investments, Deposits, Funds from Acceptance and Issuance of Securities, Borrowings and Onlending and Subordinate Debt – 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 market 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 pricing techniques to establish their market value. In the absence of the prices quoted by the Brazilian Financial and Capital Markets Association (ANBIMA), the market values of government securities are determined based on the interest rates provided by brokers. The market values of corporate debt securities are calculated by discounting estimated cash flows at market interest rates. The market values of shares are computed based on their prices quoted in the market. The market values of derivative financial instruments were determined as follows: · Swaps: Their 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 market 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 using 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 market value of the underlying asset. Current market prices of options are used to compute the implicit volatilities. · Credit Risk: 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 and other credits – Market value is estimated based on groups of loans with similar financial and risk characteristics, using valuation models. The market value of fixed-rate loans was determined by discounting estimated cash flows, applying current interest rates close of similar loans. For the majority of loans at floating rate, the carrying amount was considered close to their market value. The market value of loan and lease operations not overdue was calculated by discounting the expected payments of principal and interest through maturity. The market 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 information specific of the debtor. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 131 Note 15 - Market value In cases where market prices are not available, market value 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 market 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 market value for financial instruments: 09/30/2019 09/30/2018 Estimated Market Estimated Market Book Value Book Value Value Value 274,139,259 274,202,680 320,965,205 320,977,876 Short-term Interbank investments (a)(b) Securities (c) Adjustment of available-for-sale securities 129,389,021 129,389,021 98,575,791 98,575,791 Adjustment of held-to-maturity securities 39,505,550 42,810,852 42,270,667 42,393,761 Derivative financial instruments - Assets (c) 40,873,999 40,873,999 28,641,569 28,641,569 Loan, lease and other credit operations (d) 541,542,342 551,182,720 495,023,602 500,325,943 Deposits (b) 490,838,011 490,909,896 454,551,571 454,567,722 Deposits received under securities repurchase agreements (a) 296,502,843 296,502,843 314,575,274 314,575,274 Funds from acceptance and issuance of securities (b) 130,883,429 131,016,169 118,684,376 118,787,653 Borrowings and onlendings (b) 77,769,778 77,896,530 67,257,706 67,339,927 47,440,587 47,440,587 31,827,170 31,827,170 Derivative financial instruments - Liabilities (c) 55,458,799 57,371,953 53,720,834 53,668,557 Subordinated debt (b) The methods and assumptions adopted to estimate the market value are defined below: a) Securities purchased under agreements to resell, which compose the balance of Interbank Investments, and Securities under repurchase agreements - The carrying amounts for these instruments approximate their market values. b) Interbank deposits, which compose the balance of Interbank Investments, Deposits, Funds from Acceptance and Issuance of Securities, Borrowings and Onlending and Subordinate Debt – 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 market 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 pricing techniques to establish their market value. In the absence of the prices quoted by the Brazilian Financial and Capital Markets Association (ANBIMA), the market values of government securities are determined based on the interest rates provided by brokers. The market values of corporate debt securities are calculated by discounting estimated cash flows at market interest rates. The market values of shares are computed based on their prices quoted in the market. The market values of derivative financial instruments were determined as follows: · Swaps: Their 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 market 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 using 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 market value of the underlying asset. Current market prices of options are used to compute the implicit volatilities. · Credit Risk: 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 and other credits – Market value is estimated based on groups of loans with similar financial and risk characteristics, using valuation models. The market value of fixed-rate loans was determined by discounting estimated cash flows, applying current interest rates close of similar loans. For the majority of loans at floating rate, the carrying amount was considered close to their market value. The market value of loan and lease operations not overdue was calculated by discounting the expected payments of principal and interest through maturity. The market 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 information specific of the debtor. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 131

Note 16 – Post-employment benefits ITAÚ UNIBANCO HOLDING CONSOLIDATED, 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 002 benefit plan Prebeg benefit plan UBB PREV defined benefit plan Defined Benefit Benefit Plan II Itaulam basic plan Itaú Unibanco Foundation – Itaú Defined Benefit Plan Suplementary Pension - FIU REDECARD Retirement Plan ITAUCARD Retirement Defined Benefit Plan Itaubanco Defined Contribution Plan Itaubank Retirement Plan Defined Contribution REDECARD Pension Plan Unibanco Pension Plan – Intelligent Future Itaulam Supplementary Plan Itaú Defined Contribution Plan Variable Contribution REDECARD Retirement Plan ITAUCARD Supplementary Retirement Plan Funbep I Benefit Plan Defined Benefit FUNBEP Multisponsored Pension Fund Funbep II Benefit Plan Variable Contribution Defined Contribution plans include pension funds consisting of the portions of sponsor’s contributions not included in a participant’s account balance due to loss of eligibility for the benefit, and of monies arising from the migration of retirement plans in defined benefit modality. These funds are used for future contributions to individual participants’ accounts, according to the respective benefit plan regulations. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 132 Note 16 – Post-employment benefits ITAÚ UNIBANCO HOLDING CONSOLIDATED, 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 002 benefit plan Prebeg benefit plan UBB PREV defined benefit plan Defined Benefit Benefit Plan II Itaulam basic plan Itaú Unibanco Foundation – Itaú Defined Benefit Plan Suplementary Pension - FIU REDECARD Retirement Plan ITAUCARD Retirement Defined Benefit Plan Itaubanco Defined Contribution Plan Itaubank Retirement Plan Defined Contribution REDECARD Pension Plan Unibanco Pension Plan – Intelligent Future Itaulam Supplementary Plan Itaú Defined Contribution Plan Variable Contribution REDECARD Retirement Plan ITAUCARD Supplementary Retirement Plan Funbep I Benefit Plan Defined Benefit FUNBEP Multisponsored Pension Fund Funbep II Benefit Plan Variable Contribution Defined Contribution plans include pension funds consisting of the portions of sponsor’s contributions not included in a participant’s account balance due to loss of eligibility for the benefit, and of monies arising from the migration of retirement plans in defined benefit modality. These funds are used for future contributions to individual participants’ accounts, according to the respective benefit plan regulations. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 132

a) Main Actuarial Assumptions Actuarial assumptions of demographic and financial nature should reflect the best estimates about the variables that determine the post-employment benefit obligations. The main demographic assumptions comprise: mortality table and turnover of active participants, while the main financial assumptions include: discount rate, future salary increases, growth of plan benefits and inflation. 09/30/2019 09/30/2018 (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 relating 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. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 133 a) Main Actuarial Assumptions Actuarial assumptions of demographic and financial nature should reflect the best estimates about the variables that determine the post-employment benefit obligations. The main demographic assumptions comprise: mortality table and turnover of active participants, while the main financial assumptions include: discount rate, future salary increases, growth of plan benefits and inflation. 09/30/2019 09/30/2018 (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 relating 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. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 133

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 09/30/2019 09/30/2018 09/30/2019 09/30/2018 90.68% 96.01% Fixed income securities 17,622,255 17,382,507 89.14% 94.51% Quoted in an active market 17,323,857 17,110,783 Non quoted in an active market 298,398 271,724 1.54% 1.50% Variable income securities 1,119,055 17,281 5.76% 0.10% Quoted in an active market 1,111,317 10,720 5.72% 0.06% Non quoted in an active market 7,738 6,561 0.04% 0.04% 0.40% 0.24% Structured investments 78,485 43,300 Quoted in an active market 64 625 0.00% 0.00% 0.40% 0.24% Non quoted in an active market 78,421 42,675 Real estate 534,781 578,716 2.75% 3.20% Loans to participants 79,984 82,321 0.41% 0.45% Total 19,434,560 18,104,125 100.00% 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$ 10,689 (R$ 10,702 at 09/30/2018), and real estate rented to Group companies, with a fair value of R$ 445,521 (R$ 497,472 at 09/30/2018). d) Other post-employment benefits ITAÚ UNIBANCO HOLDING CONSOLIDATED nd 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 court 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 applicants. 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 CONSOLIDATED 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. e) Net amount recognized in the balance sheet 09/30/2019 Other post- BD and CV CD Plans Total employment Plans benefits 1 - Net assets of the plans 19,434,560 1,641,526 - 21,076,086 2 - Actuarial liabilities (15,765,304) - (816,231) (16,581,535) (*) 3 - Asset restriction (4,039,508) (1,003,054) - (5,042,562) (370,252) 638,472 (816,231) (548,011) 4 - Net amount recognized in the balance sheet (1+2+3) Amount recognized in Assets (Note 10a) 66,079 638,472 - 704,551 Amount recognized in Liabilities (Note 10d) (436,331) - (816,231) (1,252,562) 09/30/2018 Other post- BD and CV CD Plans Total employment Plans benefits 1 - Net assets of the plans 18,104,125 1,682,108 - 19,786,233 2 - Actuarial liabilities (14,813,331) - (261,302) (15,074,633) (*) 3 - Asset restriction (3,440,390) (965,773) - (4,406,163) 4 - Net amount recognized in the balance sheet (1+2+3) (149,596) 716,335 (261,302) 305,437 Amount recognized in Assets (Note 10a) 368,556 716,335 - 1,084,891 (518,152) - (261,302) (779,454) Amount recognized in Liabilities (Note 10d) (*) Corresponds to the excess of the present value of the available economic benefit, in conformity with Bacen Resolution nº 4,424/15. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 134 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 09/30/2019 09/30/2018 09/30/2019 09/30/2018 90.68% 96.01% Fixed income securities 17,622,255 17,382,507 89.14% 94.51% Quoted in an active market 17,323,857 17,110,783 Non quoted in an active market 298,398 271,724 1.54% 1.50% Variable income securities 1,119,055 17,281 5.76% 0.10% Quoted in an active market 1,111,317 10,720 5.72% 0.06% Non quoted in an active market 7,738 6,561 0.04% 0.04% 0.40% 0.24% Structured investments 78,485 43,300 Quoted in an active market 64 625 0.00% 0.00% 0.40% 0.24% Non quoted in an active market 78,421 42,675 Real estate 534,781 578,716 2.75% 3.20% Loans to participants 79,984 82,321 0.41% 0.45% Total 19,434,560 18,104,125 100.00% 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$ 10,689 (R$ 10,702 at 09/30/2018), and real estate rented to Group companies, with a fair value of R$ 445,521 (R$ 497,472 at 09/30/2018). d) Other post-employment benefits ITAÚ UNIBANCO HOLDING CONSOLIDATED nd 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 court 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 applicants. 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 CONSOLIDATED 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. e) Net amount recognized in the balance sheet 09/30/2019 Other post- BD and CV CD Plans Total employment Plans benefits 1 - Net assets of the plans 19,434,560 1,641,526 - 21,076,086 2 - Actuarial liabilities (15,765,304) - (816,231) (16,581,535) (*) 3 - Asset restriction (4,039,508) (1,003,054) - (5,042,562) (370,252) 638,472 (816,231) (548,011) 4 - Net amount recognized in the balance sheet (1+2+3) Amount recognized in Assets (Note 10a) 66,079 638,472 - 704,551 Amount recognized in Liabilities (Note 10d) (436,331) - (816,231) (1,252,562) 09/30/2018 Other post- BD and CV CD Plans Total employment Plans benefits 1 - Net assets of the plans 18,104,125 1,682,108 - 19,786,233 2 - Actuarial liabilities (14,813,331) - (261,302) (15,074,633) (*) 3 - Asset restriction (3,440,390) (965,773) - (4,406,163) 4 - Net amount recognized in the balance sheet (1+2+3) (149,596) 716,335 (261,302) 305,437 Amount recognized in Assets (Note 10a) 368,556 716,335 - 1,084,891 (518,152) - (261,302) (779,454) Amount recognized in Liabilities (Note 10d) (*) Corresponds to the excess of the present value of the available economic benefit, in conformity with Bacen Resolution nº 4,424/15. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 134

f) Change in the net amount recognized in the balance sheet: 09/30/2019 Ohter post- BD and CV plans CD plans employment Total benefit Recognized Pension plan Recognized Recognized Net assets Actuarial liabilities Asset ceiling Asset ceiling Liabilities amount fund amount amount Amounts at the beginning of the period 18,808,301 (15,492,982) (3,664,329) (349,010) 1,603,560 (938,290) 665,270 (281,933) 34,327 Amounts recognized in income (1+2+3) 1,327,027 (1,139,443) (266,574) (78,990) 113,594 (68,401) 45,193 (441,829) (475,626) - (56,263) - (56,263) - - - - (56,263) 1 - Cost of current service 2 - Cost of past service - - - - - - - (418,679) (418,679) (1) 1,327,027 (1,083,180) (266,574) (22,727) 113,594 (68,401) 45,193 (23,150) (684) 3 - Net interest Amounts recognized in stockholders´ equity (4+5+6) 116,190 (8,331) (108,605) (746) 2,473 3,637 6,110 (109,476) (104,112) 4 - Effects on asset ceiling - 8,984 8,984 - 3,637 3,637 - 12,621 (2) (3) 5 - Remeasurements 117,589 (11,386) (117,589) (11,386) 2,473 - 2,473 (109,476) (118,389) (1,399) 3,055 1,656 6 - Exchange variation - - - - - 1,656 (816,958) 875,452 - 58,494 (78,101) - (78,101) 17,007 (2,600) Other (7+8+9+10) 7 - Receipt by allocation of funds - - - - - - - - - 8 - Benefits paid (875,452) 875,452 - - - - - 17,007 17,007 9 - Contributions and investments from sponsor 51,677 - - 51,677 (78,101) - (78,101) - (26,424) 10 - Contributions from parcipants 6,817 - - 6,817 - - - - 6,817 Amounts at end of the period 19,434,560 (15,765,304) (4,039,508) (370,252) 1,641,526 (1,003,054) 638,472 (816,231) (548,011) 09/30/2018 Ohter post- BD and CV plans CD plans employment Total benefit Recognized Pension plan Recognized Recognized Net assets Actuarial liabilities Asset ceiling Asset ceiling Liabilities amount fund amount amount Amounts at the beginning of the period 17,588,377 (14,490,542) (3,217,361) (119,526) 1,633,690 (911,929) 721,761 (256,723) 345,512 Amounts recognized in income (1+2+3) 1,275,037 (1,092,128) (240,841) (57,932) 117,911 (67,268) 50,643 (18,655) (25,944) 1 - Cost of current service - (52,023) - (52,023) - - - - (52,023) 2 - Cost of past service - - - - - - - - - (1) 1,275,037 (1,040,105) (240,841) (5,909) 117,911 (67,268) 50,643 (18,655) 26,079 3 - Net interest Amounts recognized in stockholders´ equity (4+5+6) 5,852 (54,613) 17,812 (30,949) (10,476) 13,424 2,948 - (28,001) 4 - Effects on asset ceiling - - 17,812 17,812 - 13,424 13,424 - 31,236 (2) (3) - (44,472) - (44,472) (10,476) - (10,476) - (54,948) 5 - Remeasurements 6 - Exchange variation 5,852 (10,141) - (4,289) - - - - (4,289) Other (7+8+9+10) (765,141) 823,952 - 58,811 (59,017) - (59,017) 14,076 13,870 7 - Receipt by allocation of funds - - - - - - - - - (823,952) 823,952 8 - Benefits paid - - - - - 14,076 14,076 50,980 - - 50,980 (59,017) - (59,017) - (8,037) 9 - Contributions and investments from sponsor 10 - Contributions from parcipants 7,831 - - 7,831 - - - - 7,831 Amounts at end of the period 18,104,125 (14,813,331) (3,440,390) (149,596) 1,682,108 (965,773) 716,335 (261,302) 305,437 (1) Corresponds to the amount calculated at 01/01/2019 based on the initial 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.(On 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$ 1,444,616 (R$ 1,275,037 at 09/30/2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 135 f) Change in the net amount recognized in the balance sheet: 09/30/2019 Ohter post- BD and CV plans CD plans employment Total benefit Recognized Pension plan Recognized Recognized Net assets Actuarial liabilities Asset ceiling Asset ceiling Liabilities amount fund amount amount Amounts at the beginning of the period 18,808,301 (15,492,982) (3,664,329) (349,010) 1,603,560 (938,290) 665,270 (281,933) 34,327 Amounts recognized in income (1+2+3) 1,327,027 (1,139,443) (266,574) (78,990) 113,594 (68,401) 45,193 (441,829) (475,626) - (56,263) - (56,263) - - - - (56,263) 1 - Cost of current service 2 - Cost of past service - - - - - - - (418,679) (418,679) (1) 1,327,027 (1,083,180) (266,574) (22,727) 113,594 (68,401) 45,193 (23,150) (684) 3 - Net interest Amounts recognized in stockholders´ equity (4+5+6) 116,190 (8,331) (108,605) (746) 2,473 3,637 6,110 (109,476) (104,112) 4 - Effects on asset ceiling - 8,984 8,984 - 3,637 3,637 - 12,621 (2) (3) 5 - Remeasurements 117,589 (11,386) (117,589) (11,386) 2,473 - 2,473 (109,476) (118,389) (1,399) 3,055 1,656 6 - Exchange variation - - - - - 1,656 (816,958) 875,452 - 58,494 (78,101) - (78,101) 17,007 (2,600) Other (7+8+9+10) 7 - Receipt by allocation of funds - - - - - - - - - 8 - Benefits paid (875,452) 875,452 - - - - - 17,007 17,007 9 - Contributions and investments from sponsor 51,677 - - 51,677 (78,101) - (78,101) - (26,424) 10 - Contributions from parcipants 6,817 - - 6,817 - - - - 6,817 Amounts at end of the period 19,434,560 (15,765,304) (4,039,508) (370,252) 1,641,526 (1,003,054) 638,472 (816,231) (548,011) 09/30/2018 Ohter post- BD and CV plans CD plans employment Total benefit Recognized Pension plan Recognized Recognized Net assets Actuarial liabilities Asset ceiling Asset ceiling Liabilities amount fund amount amount Amounts at the beginning of the period 17,588,377 (14,490,542) (3,217,361) (119,526) 1,633,690 (911,929) 721,761 (256,723) 345,512 Amounts recognized in income (1+2+3) 1,275,037 (1,092,128) (240,841) (57,932) 117,911 (67,268) 50,643 (18,655) (25,944) 1 - Cost of current service - (52,023) - (52,023) - - - - (52,023) 2 - Cost of past service - - - - - - - - - (1) 1,275,037 (1,040,105) (240,841) (5,909) 117,911 (67,268) 50,643 (18,655) 26,079 3 - Net interest Amounts recognized in stockholders´ equity (4+5+6) 5,852 (54,613) 17,812 (30,949) (10,476) 13,424 2,948 - (28,001) 4 - Effects on asset ceiling - - 17,812 17,812 - 13,424 13,424 - 31,236 (2) (3) - (44,472) - (44,472) (10,476) - (10,476) - (54,948) 5 - Remeasurements 6 - Exchange variation 5,852 (10,141) - (4,289) - - - - (4,289) Other (7+8+9+10) (765,141) 823,952 - 58,811 (59,017) - (59,017) 14,076 13,870 7 - Receipt by allocation of funds - - - - - - - - - (823,952) 823,952 8 - Benefits paid - - - - - 14,076 14,076 50,980 - - 50,980 (59,017) - (59,017) - (8,037) 9 - Contributions and investments from sponsor 10 - Contributions from parcipants 7,831 - - 7,831 - - - - 7,831 Amounts at end of the period 18,104,125 (14,813,331) (3,440,390) (149,596) 1,682,108 (965,773) 716,335 (261,302) 305,437 (1) Corresponds to the amount calculated at 01/01/2019 based on the initial 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.(On 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$ 1,444,616 (R$ 1,275,037 at 09/30/2018). Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 135

g) Defined benefit contribution Estimated Contributions made contribution 01/01 to 01/01 to 2019 09/30/2019 09/30/2018 Pension plan - FIU 47,279 45,551 42,819 Pension plan - FUNBEP 10,115 6,126 8,161 57,394 51,677 50,980 Total h) Maturity profile of defined benefit liabilities (*) Duration 2019 2020 2021 2022 2023 2024 to 2028 Pension plan - FIU 10.88 799,004 823,503 858,735 893,598 929,239 5,184,106 Pension plan - FUNBEP 10.09 370,160 387,370 404,340 419,677 434,644 2,361,645 Other post-employment benefits 12.02 16,981 18,073 19,223 20,388 21,569 127,453 Total 1,186,145 1,228,946 1,282,298 1,333,663 1,385,452 7,673,204 (*) 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 retirement plans Other post-employment benefits Stockholders´ Stockholders´ Present value Present value Main assumptions Income Income (*) (*) of liability of liability equity equity Interest rate Increase by 0.5% (717,588) - 76,368 (15,202) - (15,202) Decrease by 0.5% 782,123 - (249,711) 16,720 - 16,720 Mortality rate Increase by 5% (159,871) - 45,128 (6,309) - (6,309) Decrease by 5% 167,150 - (47,704) 6,752 - 6,752 Medical inflation Increase by 1% - - - 32,653 - 32,653 Decrease by 1% - - - (27,667) - (27,667) (*) Net of effects of asset ceiling. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 136 g) Defined benefit contribution Estimated Contributions made contribution 01/01 to 01/01 to 2019 09/30/2019 09/30/2018 Pension plan - FIU 47,279 45,551 42,819 Pension plan - FUNBEP 10,115 6,126 8,161 57,394 51,677 50,980 Total h) Maturity profile of defined benefit liabilities (*) Duration 2019 2020 2021 2022 2023 2024 to 2028 Pension plan - FIU 10.88 799,004 823,503 858,735 893,598 929,239 5,184,106 Pension plan - FUNBEP 10.09 370,160 387,370 404,340 419,677 434,644 2,361,645 Other post-employment benefits 12.02 16,981 18,073 19,223 20,388 21,569 127,453 Total 1,186,145 1,228,946 1,282,298 1,333,663 1,385,452 7,673,204 (*) 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 retirement plans Other post-employment benefits Stockholders´ Stockholders´ Present value Present value Main assumptions Income Income (*) (*) of liability of liability equity equity Interest rate Increase by 0.5% (717,588) - 76,368 (15,202) - (15,202) Decrease by 0.5% 782,123 - (249,711) 16,720 - 16,720 Mortality rate Increase by 5% (159,871) - 45,128 (6,309) - (6,309) Decrease by 5% 167,150 - (47,704) 6,752 - 6,752 Medical inflation Increase by 1% - - - 32,653 - 32,653 Decrease by 1% - - - (27,667) - (27,667) (*) Net of effects of asset ceiling. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 136

Note 17 – Information on foreign subsidiaries ITAÚ UNIBANCO HOLDING CONSOLIDATED has subsidiaries abroad, subdivided into: • Foreign branches: Itaú Unibanco S.A. – Grand Cayman Branch, New York Branch, Tokyo Branch, Itaú Unibanco Holding S.A. Grand Cayman Branch and Itaú CorpBanca New York Branch; • Latin America consolidated: basically compose of subsidiaries Banco Itaú Argentina S.A., Banco Itaú Uruguay S.A., Banco Itaú Paraguay S.A., Itaú CorpBanca and Itaú CorpBanca Colômbia S.A.; • Other foreign companies: basically compose of subsidiaries Itaú Bank Ltd., ITB Holding Ltd. and Itau BBA International plc. Further information on results of foreign units are available in the Management’s Discussion and Analysis Report. Net income 01/01 to 01/01 to 09/30/2019 09/30/2018 Foreign branches 1,754,263 1,262,507 Latin America consolidated 1,426,903 1,146,883 Other foreign companies 658,568 486,386 3,757,399 2,879,177 Foreign consolidated Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 137 Note 17 – Information on foreign subsidiaries ITAÚ UNIBANCO HOLDING CONSOLIDATED has subsidiaries abroad, subdivided into: • Foreign branches: Itaú Unibanco S.A. – Grand Cayman Branch, New York Branch, Tokyo Branch, Itaú Unibanco Holding S.A. Grand Cayman Branch and Itaú CorpBanca New York Branch; • Latin America consolidated: basically compose of subsidiaries Banco Itaú Argentina S.A., Banco Itaú Uruguay S.A., Banco Itaú Paraguay S.A., Itaú CorpBanca and Itaú CorpBanca Colômbia S.A.; • Other foreign companies: basically compose of subsidiaries Itaú Bank Ltd., ITB Holding Ltd. and Itau BBA International plc. Further information on results of foreign units are available in the Management’s Discussion and Analysis Report. Net income 01/01 to 01/01 to 09/30/2019 09/30/2018 Foreign branches 1,754,263 1,262,507 Latin America consolidated 1,426,903 1,146,883 Other foreign companies 658,568 486,386 3,757,399 2,879,177 Foreign consolidated Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 137

Note 18 – Risk, Capital Management and Fixed Assets Limits a) Corporate Governance ITAÚ UNIBANCO HOLDING CONSOLIDATED 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 Executive which, through collegiate bodies, define the global objectives expressed as targets and limits for the business units that manage risk. Control and capital management units, in turn, support ITAÚ UNIBANCO HOLDING CONSOLIDATED’s 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 managing capital and risk. At the executive level, collegiate bodies, presided over by the Chief Executive Officer (CEO) of ITAÚ UNIBANCO HOLDING CONSOLIDATED, are responsible for capital and risk management, and their decisions are monitored by the CGRC. Additionally, ITAÚ UNIBANCO HOLDING CONSOLIDATED has collegiate bodies with capital and risk management responsibilities delegated to them, chaired by the Executive Vice-President of the Risk and Finance Department (ARF). To support this structure, ARF has departments to ensure, on an independent and centralized basis, that the institution’s risks and capital are managed in compliance with defined policies and procedures. b) Risk Management Risk Appetite The risk appetite of ITAÚ UNIBANCO HOLDING CONSOLIDATED 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 insist on with strict ethical standards and regulatory compliance, seeking high and increasing returns, with low volatility, through lasting relationships with our customers, accurate risk pricing, widespread funding and proper use of capital.” Based on this statement, five dimensions have been defined (Capitalization, Liquidity, Composition of Earnings, Operating Risk and Reputation). Each dimension consists of a set of metrics associated with the main risks involved, combining supplementary measurement methods, to give a comprehensive vision of our exposure. The Board of Directors is responsible for approving guidelines and limits for risk appetite, with the support of CGRC and the CRO (Chief Risk Officer). The limits for risk appetite are monitored regularly and reported to risk committees and to the Board of Directors, which will oversee the preventive measures to be taken to ensure that exposure is aligned with the strategies of ITAÚ UNIBANCO HOLDING CONSOLIDATED. Foremost among BACEN’s requirements for proper risk and capital management are the Risk Appetite Statement (RAS) and the implementation of a continuous, integrated risk management structure, the stress test program, the establishment of a Risk Committee, and the nomination at BACEN of a Chief Risk Officer (CRO), with roles and responsibilities assigned, and requirements for independence. Risk appetite, risk management and guidelines for employees of ITAÚ UNIBANCO HOLDING CONSOLIDATED for routine decision-making purposes are based on: · Sustainability and customer satisfaction: ITAÚ UNIBANCO HOLDING CONSOLIDATED’s vision is to be the leading bank in sustainable performance and customer satisfaction and, accordingly, we are committed to creating shared value for staff, customers, stockholders and society, ensuring the continuity of the business. ITAÚ UNIBANCO HOLDING CONSOLIDATED is committed to doing business that is good both for the customer and the institution itself; Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 138 Note 18 – Risk, Capital Management and Fixed Assets Limits a) Corporate Governance ITAÚ UNIBANCO HOLDING CONSOLIDATED 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 Executive which, through collegiate bodies, define the global objectives expressed as targets and limits for the business units that manage risk. Control and capital management units, in turn, support ITAÚ UNIBANCO HOLDING CONSOLIDATED’s 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 managing capital and risk. At the executive level, collegiate bodies, presided over by the Chief Executive Officer (CEO) of ITAÚ UNIBANCO HOLDING CONSOLIDATED, are responsible for capital and risk management, and their decisions are monitored by the CGRC. Additionally, ITAÚ UNIBANCO HOLDING CONSOLIDATED has collegiate bodies with capital and risk management responsibilities delegated to them, chaired by the Executive Vice-President of the Risk and Finance Department (ARF). To support this structure, ARF has departments to ensure, on an independent and centralized basis, that the institution’s risks and capital are managed in compliance with defined policies and procedures. b) Risk Management Risk Appetite The risk appetite of ITAÚ UNIBANCO HOLDING CONSOLIDATED 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 insist on with strict ethical standards and regulatory compliance, seeking high and increasing returns, with low volatility, through lasting relationships with our customers, accurate risk pricing, widespread funding and proper use of capital.” Based on this statement, five dimensions have been defined (Capitalization, Liquidity, Composition of Earnings, Operating Risk and Reputation). Each dimension consists of a set of metrics associated with the main risks involved, combining supplementary measurement methods, to give a comprehensive vision of our exposure. The Board of Directors is responsible for approving guidelines and limits for risk appetite, with the support of CGRC and the CRO (Chief Risk Officer). The limits for risk appetite are monitored regularly and reported to risk committees and to the Board of Directors, which will oversee the preventive measures to be taken to ensure that exposure is aligned with the strategies of ITAÚ UNIBANCO HOLDING CONSOLIDATED. Foremost among BACEN’s requirements for proper risk and capital management are the Risk Appetite Statement (RAS) and the implementation of a continuous, integrated risk management structure, the stress test program, the establishment of a Risk Committee, and the nomination at BACEN of a Chief Risk Officer (CRO), with roles and responsibilities assigned, and requirements for independence. Risk appetite, risk management and guidelines for employees of ITAÚ UNIBANCO HOLDING CONSOLIDATED for routine decision-making purposes are based on: · Sustainability and customer satisfaction: ITAÚ UNIBANCO HOLDING CONSOLIDATED’s vision is to be the leading bank in sustainable performance and customer satisfaction and, accordingly, we are committed to creating shared value for staff, customers, stockholders and society, ensuring the continuity of the business. ITAÚ UNIBANCO HOLDING CONSOLIDATED is committed to doing business that is good both for the customer and the institution itself; Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 138

· Risk Culture: ITAÚ UNIBANCO HOLDING CONSOLIDATED’s risk culture goes beyond policies, procedures or processes, reinforcing the individual and collective responsibility of all employees so that they will do the right thing at the right time and in the proper manner, respecting the ethical way of doing business; · Risk pricing: ITAÚ UNIBANCO HOLDING CONSOLIDATED’s acts and assumes risks in business which it knows and understands, avoiding those with which it is unfamiliar or that do not offer a competitive edge, and carefully assessing the risk-return ratio; · Diversification: ITAÚ UNIBANCO HOLDING CONSOLIDATED has little appetite for volatility in earnings, and it therefore operates with a diverse base of customers, products and business, seeking to diversify risks and giving priority to lower risk business; · Operational excellence: It is the wish of ITAÚ UNIBANCO HOLDING CONSOLIDATED to be an agile bank, with a robust and stable infrastructure enabling us to offer top quality services; · Ethics and respect for regulation: for ITAÚ UNIBANCO HOLDING CONSOLIDATED, ethics is non- negotiable, and it therefore promotes an institutional environment of integrity, encouraging staff to cultivate ethics in relationships and business and to respect the rules, thus caring for the institution’s reputation. ITAÚ UNIBANCO HOLDING CONSOLIDATED has various ways of disseminating 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 for managing risk. These principles serve as a basis for ITAÚ UNIBANCO HOLDING CONSOLIDATED’s guidelines, helping employees to conscientiously understand, identify, measure, manage and mitigate risks. I – Credit risk The possibility of losses arising from failure by a borrower, issuer or counterparty to meet their financial obligations, the impairment of a loan due to downgrading of the risk rating of the borrower, the issuer or the counterparty, a decrease in earnings or remuneration, advantages conceded on renegotiation or the costs of recovery. There is a credit risk control and management structure, centralized and independent from the business units, that provides for operating limits and risk mitigation mechanisms, and also establishes 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 CONSOLIDATED is based on internal criteria such as: classification of customers, portfolio performance and changes, default levels, rate of return and economic capital allocated, and external factors such as interest rates, market default indicators, inflation, changes in consumption, and so on. In compliance with CMN Resolution 4,557, of February 23, 2017, the document “Public Access Report – Credit Risk”, which includes the guidelines established by our credit risk control policy, can be viewed at www.itau.com.br/investor-relations, under Corporate Governance, Rules and Policies. II - Market risk The possibility of incurring financial losses from changes in the market value of positions held by a financial institution, including the risks of transactions subject to fluctuations in currency rates, interest rates, share prices, price indexes and commodity prices. ITAÚ UNIBANCO HOLDING CONSOLIDATED’s market risk management strategy is aimed at balancing corporate business goals, taking into account, among other things, political, economic and market conditions, the portfolio profile and the ability to operate in specific markets. 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 alerts, (iii) application, analysis and testing of stress scenarios, (iv) risk reporting to those responsible within the business areas, in compliance with the governance of ITAÚ UNIBANCO HOLDING CONSOLIDATED, (v) monitoring of actions required to adjust positions and risk levels to make them realistic, and (vi) providing support for the safe launch of new financial products. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 139 · Risk Culture: ITAÚ UNIBANCO HOLDING CONSOLIDATED’s risk culture goes beyond policies, procedures or processes, reinforcing the individual and collective responsibility of all employees so that they will do the right thing at the right time and in the proper manner, respecting the ethical way of doing business; · Risk pricing: ITAÚ UNIBANCO HOLDING CONSOLIDATED’s acts and assumes risks in business which it knows and understands, avoiding those with which it is unfamiliar or that do not offer a competitive edge, and carefully assessing the risk-return ratio; · Diversification: ITAÚ UNIBANCO HOLDING CONSOLIDATED has little appetite for volatility in earnings, and it therefore operates with a diverse base of customers, products and business, seeking to diversify risks and giving priority to lower risk business; · Operational excellence: It is the wish of ITAÚ UNIBANCO HOLDING CONSOLIDATED to be an agile bank, with a robust and stable infrastructure enabling us to offer top quality services; · Ethics and respect for regulation: for ITAÚ UNIBANCO HOLDING CONSOLIDATED, ethics is non- negotiable, and it therefore promotes an institutional environment of integrity, encouraging staff to cultivate ethics in relationships and business and to respect the rules, thus caring for the institution’s reputation. ITAÚ UNIBANCO HOLDING CONSOLIDATED has various ways of disseminating 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 for managing risk. These principles serve as a basis for ITAÚ UNIBANCO HOLDING CONSOLIDATED’s guidelines, helping employees to conscientiously understand, identify, measure, manage and mitigate risks. I – Credit risk The possibility of losses arising from failure by a borrower, issuer or counterparty to meet their financial obligations, the impairment of a loan due to downgrading of the risk rating of the borrower, the issuer or the counterparty, a decrease in earnings or remuneration, advantages conceded on renegotiation or the costs of recovery. There is a credit risk control and management structure, centralized and independent from the business units, that provides for operating limits and risk mitigation mechanisms, and also establishes 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 CONSOLIDATED is based on internal criteria such as: classification of customers, portfolio performance and changes, default levels, rate of return and economic capital allocated, and external factors such as interest rates, market default indicators, inflation, changes in consumption, and so on. In compliance with CMN Resolution 4,557, of February 23, 2017, the document “Public Access Report – Credit Risk”, which includes the guidelines established by our credit risk control policy, can be viewed at www.itau.com.br/investor-relations, under Corporate Governance, Rules and Policies. II - Market risk The possibility of incurring financial losses from changes in the market value of positions held by a financial institution, including the risks of transactions subject to fluctuations in currency rates, interest rates, share prices, price indexes and commodity prices. ITAÚ UNIBANCO HOLDING CONSOLIDATED’s market risk management strategy is aimed at balancing corporate business goals, taking into account, among other things, political, economic and market conditions, the portfolio profile and the ability to operate in specific markets. 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 alerts, (iii) application, analysis and testing of stress scenarios, (iv) risk reporting to those responsible within the business areas, in compliance with the governance of ITAÚ UNIBANCO HOLDING CONSOLIDATED, (v) monitoring of actions required to adjust positions and risk levels to make them realistic, and (vi) providing support for the safe launch of new financial products. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 139

The National Monetary Council (CMN) has regulations governing the segregation of exposure to market risk into risk factors, such as: interest rate, exchange rate, equities and commodities. Brazilian inflation indexes are treated as a group of risk indicators and limits are managed in the same way as for the other indicators. The structure of limits and alerts obeys the Board of Directors’ guidelines, and it is reviewed and approved on an annual basis. This structure has specific limits aimed at improving the process of monitoring and understanding risk, and at avoiding concentration. These limits are quantified by assessing the forecast balance sheet results, the size of stockholders’ equity, market liquidity, complexity and volatility, and the institution’s appetite for risk. In order to operate within the defined limits, ITAÚ UNIBANCO HOLDING CONSOLIDATED hedges transactions with customers and proprietary positions, including its foreign investments. Derivatives are commonly used for these hedging activities, which can be either accounting or economic hedges, both governed by the institutional polices of ITAÚ UNIBANCO HOLDING CONSOLIDATED Note 5 – Securities and derivative financial instruments (assets and liabilities). 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 4,557, of February 23, 2017, and BACEN Circular 3,354, of June 27, 2007. The trading portfolio consists of all transactions involving financial instruments and commodities, including derivatives, which are held for trading. The banking portfolio is basically characterized by transactions for the banking business, and transactions related to the management of the balance sheet of the institution, where there is no intention of sale and time horizons are medium and long term. Market risk management is based on the following metrics:: · Value at risk (VaR): a statistical measure that estimates the expected maximum potential economic loss under normal market conditions, considering a certain time horizon and confidence level; · 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 used to revise positions, should losses accumulated in a fixed period reach a certain level; · Concentration: cumulative exposure of a certain financial instrument or risk factor, calculated at market value (MtM – Marked to Market); and · Stressed VaR: statistical metric derived from the VaR calculation, with the purpose is of simulating higher risk in the trading portfolio, taking returns that can be seen in past scenarios of extreme volatility. Management of interest rate risk in the Banking Book (IRRBB) is based on the following metrics: · ΔEVE (Delta Economic Value of Equity): difference between the present value of the sum of repricing flows of instruments subject to IRRBB in a base scenario and the present value of the sum of repricing flows of these instruments in a scenario of interest rate shock; · ΔNII (Delta Net Interest Income): 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, sensitivity and loss control measures are also analyzed. They include: · 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 Sundry 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 CONSOLIDATED uses proprietary systems to measure the consolidated market risk. The processing of these systems occurs in a high-availability access-controlled environment, which has data storage and recovery processes and an infrastructure that ensures business continuity in contingency (disaster recovery) situations. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 140 The National Monetary Council (CMN) has regulations governing the segregation of exposure to market risk into risk factors, such as: interest rate, exchange rate, equities and commodities. Brazilian inflation indexes are treated as a group of risk indicators and limits are managed in the same way as for the other indicators. The structure of limits and alerts obeys the Board of Directors’ guidelines, and it is reviewed and approved on an annual basis. This structure has specific limits aimed at improving the process of monitoring and understanding risk, and at avoiding concentration. These limits are quantified by assessing the forecast balance sheet results, the size of stockholders’ equity, market liquidity, complexity and volatility, and the institution’s appetite for risk. In order to operate within the defined limits, ITAÚ UNIBANCO HOLDING CONSOLIDATED hedges transactions with customers and proprietary positions, including its foreign investments. Derivatives are commonly used for these hedging activities, which can be either accounting or economic hedges, both governed by the institutional polices of ITAÚ UNIBANCO HOLDING CONSOLIDATED Note 5 – Securities and derivative financial instruments (assets and liabilities). 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 4,557, of February 23, 2017, and BACEN Circular 3,354, of June 27, 2007. The trading portfolio consists of all transactions involving financial instruments and commodities, including derivatives, which are held for trading. The banking portfolio is basically characterized by transactions for the banking business, and transactions related to the management of the balance sheet of the institution, where there is no intention of sale and time horizons are medium and long term. Market risk management is based on the following metrics:: · Value at risk (VaR): a statistical measure that estimates the expected maximum potential economic loss under normal market conditions, considering a certain time horizon and confidence level; · 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 used to revise positions, should losses accumulated in a fixed period reach a certain level; · Concentration: cumulative exposure of a certain financial instrument or risk factor, calculated at market value (MtM – Marked to Market); and · Stressed VaR: statistical metric derived from the VaR calculation, with the purpose is of simulating higher risk in the trading portfolio, taking returns that can be seen in past scenarios of extreme volatility. Management of interest rate risk in the Banking Book (IRRBB) is based on the following metrics: · ΔEVE (Delta Economic Value of Equity): difference between the present value of the sum of repricing flows of instruments subject to IRRBB in a base scenario and the present value of the sum of repricing flows of these instruments in a scenario of interest rate shock; · ΔNII (Delta Net Interest Income): 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, sensitivity and loss control measures are also analyzed. They include: · 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 Sundry 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 CONSOLIDATED uses proprietary systems to measure the consolidated market risk. The processing of these systems occurs in a high-availability access-controlled environment, which has data storage and recovery processes and an infrastructure that ensures business continuity in contingency (disaster recovery) situations. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 140

As of September 30, 2019, ITAÚ UNIBANCO HOLDING CONSOLIDATED showed Total VaR of R$ 220.4 million, a reduction in relation to the same period of the previous year (R$ 294.7 million at September 30, 2018), due to lower volatility in interest rates. The document “Public Access Report – Market Risk“, which includes which includes our internal policy guidelines for market risk control, is not an integral part of the financial statements, but can be viewed at www.itau.com.br/investor-relations, in the section Itaú Unibanco, Corporate Governance, Rules and Policies. III – Liquidity risk The possibility that the institution may be unable to efficiently meet its expected and unexpected obligations, both current and future, including those arising from guarantees issued, without affecting its daily operations and without incurring significant losses. Liquidity risk is controlled by an area independent from the business area and responsible for establishing the reserve composition, estimating the cash flow and exposure to liquidity risk in different time horizons, and for monitoring the minimum limits to absorb losses in stress scenarios for each country where ITAÚ UNIBANCO HOLDING CONSOLIDATED operates. All activities are subject to verification by independent validation, internal control and audit areas. The document Public Access Report - Liquidity Risk, which includes our internal policy guidelines for liquidity risk control, is not an integral part of the financial statements, but can be viewed on the website www.itau.com.br/investor-relations, in the section Itaú Unibanco, Corporate Governance, Rules and Policies. IV – Operating risk The possibility of losses from failures, defects or shortcomings in internal processes, people or systems, or from external events impacting the realization of strategic, tactical or operational objectives. It includes the legal risk of inadequacies or defects in agreements signed by the institution, as well as sanctions for failing to comply with legal provisions and compensation to third parties for losses arising from the institution’s activities. The managers of executive areas use corporate methods developed and supplied by the internal controls, compliance and operating risk area. As part of governance of the risk management process, consolidated reports on risk monitoring, controls, action plans and operating losses are periodically presented to the business areas’ executives. In line with the principles of CMN Resolution 4,557, of February, 23 2017, the document entitled “Public Access Report – Integrated Management of Operating Risk/ Internal Controls/ Compliance”, a summarized version of the institutional operating risk management policy, 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 S.A. – Complete Financial Statements – September 30, 2019 141 As of September 30, 2019, ITAÚ UNIBANCO HOLDING CONSOLIDATED showed Total VaR of R$ 220.4 million, a reduction in relation to the same period of the previous year (R$ 294.7 million at September 30, 2018), due to lower volatility in interest rates. The document “Public Access Report – Market Risk“, which includes which includes our internal policy guidelines for market risk control, is not an integral part of the financial statements, but can be viewed at www.itau.com.br/investor-relations, in the section Itaú Unibanco, Corporate Governance, Rules and Policies. III – Liquidity risk The possibility that the institution may be unable to efficiently meet its expected and unexpected obligations, both current and future, including those arising from guarantees issued, without affecting its daily operations and without incurring significant losses. Liquidity risk is controlled by an area independent from the business area and responsible for establishing the reserve composition, estimating the cash flow and exposure to liquidity risk in different time horizons, and for monitoring the minimum limits to absorb losses in stress scenarios for each country where ITAÚ UNIBANCO HOLDING CONSOLIDATED operates. All activities are subject to verification by independent validation, internal control and audit areas. The document Public Access Report - Liquidity Risk, which includes our internal policy guidelines for liquidity risk control, is not an integral part of the financial statements, but can be viewed on the website www.itau.com.br/investor-relations, in the section Itaú Unibanco, Corporate Governance, Rules and Policies. IV – Operating risk The possibility of losses from failures, defects or shortcomings in internal processes, people or systems, or from external events impacting the realization of strategic, tactical or operational objectives. It includes the legal risk of inadequacies or defects in agreements signed by the institution, as well as sanctions for failing to comply with legal provisions and compensation to third parties for losses arising from the institution’s activities. The managers of executive areas use corporate methods developed and supplied by the internal controls, compliance and operating risk area. As part of governance of the risk management process, consolidated reports on risk monitoring, controls, action plans and operating losses are periodically presented to the business areas’ executives. In line with the principles of CMN Resolution 4,557, of February, 23 2017, the document entitled “Public Access Report – Integrated Management of Operating Risk/ Internal Controls/ Compliance”, a summarized version of the institutional operating risk management policy, 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 S.A. – Complete Financial Statements – September 30, 2019 141

V - Insurance, private pension and capitalization risks The main risks related to Insurance, Private Pension and Capitalization portfolios are described below and defined in their respective chapters. · Underwriting risk: possibility of losses arising from insurance, pension plan and capitalization operations contrary to the institution’s expectations of ITAÚ UNIBANCO HOLDING CONSOLIDATED, directly or indirectly associated with technical and actuarial bases adopted to calculate premiums, contributions and provisions; · Credit risk; · Market risk; · Liquidity risk; · Operating risk. These risks are managed independently, according to their special characteristics. VI - Environmental and social risk Potential losses resulting from environmental and social damages caused by the bank’s activities. Environmental and social risk management is conducted by the first line of defense in its daily activities, with technical assessment of legal and risk areas, which have a dedicated technical team for this purpose. Business units also have governance for approval of new products, which includes an assessment of social and environmental risk, to ensure that all new products approved by the institution comply with this requirement. Governance also includes the Environmental and Social Risk Committee, whose main duty is to give guidance on the institution’s position on exposure to social and environmental risk. Mitigation of environmental and social risk involves mapping processes, risks and controls, monitoring new regulations on the subject, and recording any occurrences in internal databases. In addition, risks identified, prioritized and actions taken complement the management of this risk in ITAÚ UNIBANCO HOLDING CONSOLIDATED. Further details on environmental and social risk, which is not an integral part of the financial statements, can be viewed at www.itau.com.br/investor-relations, under Reports / Pillar 3 and Index of Systemic and Global Importance / Risk and Capital Management – Pillar 3. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 142 V - Insurance, private pension and capitalization risks The main risks related to Insurance, Private Pension and Capitalization portfolios are described below and defined in their respective chapters. · Underwriting risk: possibility of losses arising from insurance, pension plan and capitalization operations contrary to the institution’s expectations of ITAÚ UNIBANCO HOLDING CONSOLIDATED, directly or indirectly associated with technical and actuarial bases adopted to calculate premiums, contributions and provisions; · Credit risk; · Market risk; · Liquidity risk; · Operating risk. These risks are managed independently, according to their special characteristics. VI - Environmental and social risk Potential losses resulting from environmental and social damages caused by the bank’s activities. Environmental and social risk management is conducted by the first line of defense in its daily activities, with technical assessment of legal and risk areas, which have a dedicated technical team for this purpose. Business units also have governance for approval of new products, which includes an assessment of social and environmental risk, to ensure that all new products approved by the institution comply with this requirement. Governance also includes the Environmental and Social Risk Committee, whose main duty is to give guidance on the institution’s position on exposure to social and environmental risk. Mitigation of environmental and social risk involves mapping processes, risks and controls, monitoring new regulations on the subject, and recording any occurrences in internal databases. In addition, risks identified, prioritized and actions taken complement the management of this risk in ITAÚ UNIBANCO HOLDING CONSOLIDATED. Further details on environmental and social risk, which is not an integral part of the financial statements, can be viewed at www.itau.com.br/investor-relations, under Reports / Pillar 3 and Index of Systemic and Global Importance / Risk and Capital Management – Pillar 3. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 142

c) Capital management governance ITAÚ UNIBANCO HOLDING CONSOLIDATED is subject to the requirements of BACEN, which determines minimum capital requirements, procedures to obtain information to assess the global systemic importance of banks, fixed asset limits, loan limits and accounting practices, and requires banks to conform to the regulations based on the Basel Accord for capital adequacy. Additionally, CNSP and SUSEP issue regulations on capital requirements that affect our insurance operations and private pension and savings bonds 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 operatingl 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 Capital: 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 Reference Equity 09/30/2019 09/30/2018 Stockholders’ equity attributable to controlling interests 125,719,227 125,035,403 Non-controlling interests 12,712,316 13,579,545 Change in interest in subsidiaries in a capital transaction 49,587 467,313 Consolidated stockholders’ equity (BACEN) 138,481,130 139,082,261 Common Equity Tier I prudential adjustments (25,245,845) (25,769,542) Common Equity Tier I 113,235,285 113,312,719 Instruments Eligible to comprise Additional Tier I 11,513,064 7,985,434 Additional Tier I Prudential Adjustments 108,032 87,519 Additional Tier I Capital 11,621,096 8,072,953 Tier I (Common Equity Tier I + Additional Tier I Capital) 124,856,381 121,385,672 Instruments Eligible to comprise Tier II 11,833,538 15,778,051 Tier II Prudential Adjustments 64,636 88,166 Tier II 11,898,174 15,866,217 Referential Equity (Tier I + Tier II) 136,754,555 137,251,889 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 143 c) Capital management governance ITAÚ UNIBANCO HOLDING CONSOLIDATED is subject to the requirements of BACEN, which determines minimum capital requirements, procedures to obtain information to assess the global systemic importance of banks, fixed asset limits, loan limits and accounting practices, and requires banks to conform to the regulations based on the Basel Accord for capital adequacy. Additionally, CNSP and SUSEP issue regulations on capital requirements that affect our insurance operations and private pension and savings bonds 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 operatingl 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 Capital: 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 Reference Equity 09/30/2019 09/30/2018 Stockholders’ equity attributable to controlling interests 125,719,227 125,035,403 Non-controlling interests 12,712,316 13,579,545 Change in interest in subsidiaries in a capital transaction 49,587 467,313 Consolidated stockholders’ equity (BACEN) 138,481,130 139,082,261 Common Equity Tier I prudential adjustments (25,245,845) (25,769,542) Common Equity Tier I 113,235,285 113,312,719 Instruments Eligible to comprise Additional Tier I 11,513,064 7,985,434 Additional Tier I Prudential Adjustments 108,032 87,519 Additional Tier I Capital 11,621,096 8,072,953 Tier I (Common Equity Tier I + Additional Tier I Capital) 124,856,381 121,385,672 Instruments Eligible to comprise Tier II 11,833,538 15,778,051 Tier II Prudential Adjustments 64,636 88,166 Tier II 11,898,174 15,866,217 Referential Equity (Tier I + Tier II) 136,754,555 137,251,889 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 143

II - Capital requirements in place and in progress The minimum capital requirements are expressed as ratios obtained from the ratio between available capital and 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) Countercyclical 0% 0% (3) Systemic 0.5% 1.0% Common Equity Tier I + ACP 6.875% 8.0% Total capital + ACP 11.0% 11.5% Prudential adjustment deductions 100% 100% (1) Petition valid after of January 1st, 2019. (2) ACP is triggered during the credit cycle expansion phase. Furthermore, in the event of increase in ACPCountercyclical, the new Countercyclical percentage will be effective only twelve months after it is announced. (3) Calculation of ACP associates the systemic importance, represented by the institution’s total exposure, to Gross Domestic Product (GDP). Systemic III - Risk-Weighted Assets (RWA) For calculating minimum capital requirements, RWA must be obtained by taking the sum of the following risk exposures: RWA = RWA + RWA + RWA CPAD MINT OPAD 09/30/2019 09/30/2018 (1) 759,357,599 713,435,245 Credit risk (RWA ) CPAD (2) Market risk (RWA ) 46,586,648 26,356,482 MINT (3) 81,567,796 72,833,292 Operational risk (RWAP ) OPAD Total risk-weighted assets 887,512,043 812,625,019 (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 nº 3,646 and nº 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: Credit risk 09/30/2019 09/30/2018 Marketable securities 50,729,712 39,377,637 Loan operations – Retail 134,244,512 119,876,138 Loan operations – Non-retail 277,256,011 258,853,254 Joint Liabilities - Retail 133,998 160,842 Joint Liabilities - Non-Retail 44,131,111 46,026,737 Loan commitments – Retail 37,657,747 33,875,114 Loan commitments – Non-retail 11,434,729 10,543,623 Derivatives – Future potential gain 4,782,453 4,739,198 Inermediation 2,040,370 3,291,700 Other exposures 196,946,956 196,691,002 Total 759,357,599 713,435,245 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 144 II - Capital requirements in place and in progress The minimum capital requirements are expressed as ratios obtained from the ratio between available capital and 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) Countercyclical 0% 0% (3) Systemic 0.5% 1.0% Common Equity Tier I + ACP 6.875% 8.0% Total capital + ACP 11.0% 11.5% Prudential adjustment deductions 100% 100% (1) Petition valid after of January 1st, 2019. (2) ACP is triggered during the credit cycle expansion phase. Furthermore, in the event of increase in ACPCountercyclical, the new Countercyclical percentage will be effective only twelve months after it is announced. (3) Calculation of ACP associates the systemic importance, represented by the institution’s total exposure, to Gross Domestic Product (GDP). Systemic III - Risk-Weighted Assets (RWA) For calculating minimum capital requirements, RWA must be obtained by taking the sum of the following risk exposures: RWA = RWA + RWA + RWA CPAD MINT OPAD 09/30/2019 09/30/2018 (1) 759,357,599 713,435,245 Credit risk (RWA ) CPAD (2) Market risk (RWA ) 46,586,648 26,356,482 MINT (3) 81,567,796 72,833,292 Operational risk (RWAP ) OPAD Total risk-weighted assets 887,512,043 812,625,019 (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 nº 3,646 and nº 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: Credit risk 09/30/2019 09/30/2018 Marketable securities 50,729,712 39,377,637 Loan operations – Retail 134,244,512 119,876,138 Loan operations – Non-retail 277,256,011 258,853,254 Joint Liabilities - Retail 133,998 160,842 Joint Liabilities - Non-Retail 44,131,111 46,026,737 Loan commitments – Retail 37,657,747 33,875,114 Loan commitments – Non-retail 11,434,729 10,543,623 Derivatives – Future potential gain 4,782,453 4,739,198 Inermediation 2,040,370 3,291,700 Other exposures 196,946,956 196,691,002 Total 759,357,599 713,435,245 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 144

Market Risk (1) (1) 09/30/2019 09/30/2018 Market Risk Weighted Assets - Standard Aproach (RWAM ) 58,233,310 32,945,602 PAD Operations subject to interest rate variation 55,467,663 28,859,918 Fixed rate denominated in reais 3,199,913 3,518,737 Foreign exchange coupons 43,696,700 19,130,007 Price index coupon 8,571,050 6,211,172 Interest rate coupon - 2 Operations subject to commodity price variation 858,475 643,156 Operations subject to stock price variation 751,288 417,897 Operations subject to risk exposures in gold, foreign currency and foreign exchange variation 1,155,884 3,024,631 (*) Minimum Market Risk Weighted Assets - Standard Aproach (RWAM ) (a) 46,586,648 26,356,482 PAD Market Risk Weighted Assets calculated based on internal methodology (b) 44,836,513 23,377,894 Reduction of Market Risk Weighted Assets due to Internal Models Aproach ( 11,646,662) ( 6,589,120) Market Risk Weighted Assets (RWA ) - maximum of (a) and (b) 46,586,648 26,356,482 MINT (*) Calculated based on internal models, with maximum saving possibility of 20% of the standard model. Operational Risk 09/30/2019 09/30/2018 Operational Risk-Weighted Assets (RWA ) 81,567,796 72,833,292 OPAD Retail 14,004,921 12,822,246 Commercial 27,536,488 26,214,251 Corporate finance 2,745,850 2,697,347 Negotiation and sales 15,430,020 11,736,501 Payments and settlement 8,801,856 8,281,707 Financial agent services 4,641,477 4,342,495 Asset management 8,100,501 6,714,978 Retail brokerage 306,683 23,767 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 145 Market Risk (1) (1) 09/30/2019 09/30/2018 Market Risk Weighted Assets - Standard Aproach (RWAM ) 58,233,310 32,945,602 PAD Operations subject to interest rate variation 55,467,663 28,859,918 Fixed rate denominated in reais 3,199,913 3,518,737 Foreign exchange coupons 43,696,700 19,130,007 Price index coupon 8,571,050 6,211,172 Interest rate coupon - 2 Operations subject to commodity price variation 858,475 643,156 Operations subject to stock price variation 751,288 417,897 Operations subject to risk exposures in gold, foreign currency and foreign exchange variation 1,155,884 3,024,631 (*) Minimum Market Risk Weighted Assets - Standard Aproach (RWAM ) (a) 46,586,648 26,356,482 PAD Market Risk Weighted Assets calculated based on internal methodology (b) 44,836,513 23,377,894 Reduction of Market Risk Weighted Assets due to Internal Models Aproach ( 11,646,662) ( 6,589,120) Market Risk Weighted Assets (RWA ) - maximum of (a) and (b) 46,586,648 26,356,482 MINT (*) Calculated based on internal models, with maximum saving possibility of 20% of the standard model. Operational Risk 09/30/2019 09/30/2018 Operational Risk-Weighted Assets (RWA ) 81,567,796 72,833,292 OPAD Retail 14,004,921 12,822,246 Commercial 27,536,488 26,214,251 Corporate finance 2,745,850 2,697,347 Negotiation and sales 15,430,020 11,736,501 Payments and settlement 8,801,856 8,281,707 Financial agent services 4,641,477 4,342,495 Asset management 8,100,501 6,714,978 Retail brokerage 306,683 23,767 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 145

IV – Capital adequacy The Board of Directors is the body responsible for approving the institutional capital management policy and guidelines for the capitalization level of ITAÚ UNIBANCO HOLDING CONSOLIDATED. The Board is also responsible for the full approval of the ICAAP (Internal Capital Adequacy Assessment Process) report, the purpose of which is to assess the capital adequacy of ITAÚ UNIBANCO HOLDING CONSOLIDATED. The result of the last ICAAP – which was dated December 2018 – indicated that ITAÚ UNIBANCO HOLDING CONSOLIDATED has, in addition to capital to cover all material risks, a significant capital surplus, thus assuring the solidity of the institution’s equity position. In order to ensure that ITAÚ UNIBANCO HOLDING CONSOLIDATED is sound and has the capital needed to support business growth, the institution maintains PR levels above the minimum level required to face risks, as demonstrated by the Common Equity, Tier I Capital and Basel ratios. The Basel Ratio reached 15.4% as at September 30, 2019, 1.5 p.p. lower than at September 30, 2018, mainly due to the payment of additional dividends on 2018 earnings. Additionally, ITAÚ UNIBANCO HOLDING CONSOLIDATED has a surplus over the required minimum Referential Equity of R$ 65,753,592, well above the ACP of R$ 31,062,921, and generously covered by available capital. 09/30/2019 09/30/2018 Amount Ratio Amount Ratio Required Current Required Current Required Current Required Current Common Equity Tier I 39,938,042 113,235,285 4.5% 12.8% 36,568,126 113,312,719 4.5% 13.9% Additional Tier I Capital - 11,621,096 - - - 8,072,953 - - Tier I (Common Equity Tier I + Additional Tier I Capital) 53,250,723 124,856,381 6.0% 14.1% 48,757,501 121,385,672 6.0% 14.9% Tier II - 11,898,174 - - - 15,866,217 - - Referential Equity (Tier I + Tier II) 71,000,963 136,754,555 8.0% 15.4% 70,088,908 137,251,889 8.625% 16.9% Amount Required for Additional Capital Buffers (ACP) 31,062,921 3.5% 19,299,844 2.375% The fixed assets ratio shows the commitment percentage of adjusted Referential Equity with adjusted permanent assets. ITAÚ UNIBANCO HOLDING CONSOLIDATED falls within the maximum limit of 50% of adjusted RE, established by BACEN. At 09/30/2019 , fixed assets ratio reached 27.7%, showing a surplus of R$ 30,437,401. Further details on Risk and Capital Management of ITAÚ UNIBANCO HOLDING CONSOLIDATED 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. V - Recovery Plan In response to the latest international crises, the Central Bank published Resolution No. 4,502, which requires the development of a Recovery Plan by financial institutions within Segment 1, with total exposure to GDP of more than 10%. This plan aims to reestablish adequate levels of capital and liquidity above regulatory operating limits in the face of severe systemic or idiosyncratic stress shocks. In this way, each institution could preserve its financial viability while also minimizing the impact on the National Financial System. More details on the Recovery Plan can be viewed at www.itau.com.br/investor-relations , section “Reports / Pillar 3 and Global Systemically Important Banks / Risk and Capital Management – Pillar 3”. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 146 IV – Capital adequacy The Board of Directors is the body responsible for approving the institutional capital management policy and guidelines for the capitalization level of ITAÚ UNIBANCO HOLDING CONSOLIDATED. The Board is also responsible for the full approval of the ICAAP (Internal Capital Adequacy Assessment Process) report, the purpose of which is to assess the capital adequacy of ITAÚ UNIBANCO HOLDING CONSOLIDATED. The result of the last ICAAP – which was dated December 2018 – indicated that ITAÚ UNIBANCO HOLDING CONSOLIDATED has, in addition to capital to cover all material risks, a significant capital surplus, thus assuring the solidity of the institution’s equity position. In order to ensure that ITAÚ UNIBANCO HOLDING CONSOLIDATED is sound and has the capital needed to support business growth, the institution maintains PR levels above the minimum level required to face risks, as demonstrated by the Common Equity, Tier I Capital and Basel ratios. The Basel Ratio reached 15.4% as at September 30, 2019, 1.5 p.p. lower than at September 30, 2018, mainly due to the payment of additional dividends on 2018 earnings. Additionally, ITAÚ UNIBANCO HOLDING CONSOLIDATED has a surplus over the required minimum Referential Equity of R$ 65,753,592, well above the ACP of R$ 31,062,921, and generously covered by available capital. 09/30/2019 09/30/2018 Amount Ratio Amount Ratio Required Current Required Current Required Current Required Current Common Equity Tier I 39,938,042 113,235,285 4.5% 12.8% 36,568,126 113,312,719 4.5% 13.9% Additional Tier I Capital - 11,621,096 - - - 8,072,953 - - Tier I (Common Equity Tier I + Additional Tier I Capital) 53,250,723 124,856,381 6.0% 14.1% 48,757,501 121,385,672 6.0% 14.9% Tier II - 11,898,174 - - - 15,866,217 - - Referential Equity (Tier I + Tier II) 71,000,963 136,754,555 8.0% 15.4% 70,088,908 137,251,889 8.625% 16.9% Amount Required for Additional Capital Buffers (ACP) 31,062,921 3.5% 19,299,844 2.375% The fixed assets ratio shows the commitment percentage of adjusted Referential Equity with adjusted permanent assets. ITAÚ UNIBANCO HOLDING CONSOLIDATED falls within the maximum limit of 50% of adjusted RE, established by BACEN. At 09/30/2019 , fixed assets ratio reached 27.7%, showing a surplus of R$ 30,437,401. Further details on Risk and Capital Management of ITAÚ UNIBANCO HOLDING CONSOLIDATED 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. V - Recovery Plan In response to the latest international crises, the Central Bank published Resolution No. 4,502, which requires the development of a Recovery Plan by financial institutions within Segment 1, with total exposure to GDP of more than 10%. This plan aims to reestablish adequate levels of capital and liquidity above regulatory operating limits in the face of severe systemic or idiosyncratic stress shocks. In this way, each institution could preserve its financial viability while also minimizing the impact on the National Financial System. More details on the Recovery Plan can be viewed at www.itau.com.br/investor-relations , section “Reports / Pillar 3 and Global Systemically Important Banks / Risk and Capital Management – Pillar 3”. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 146

Note 19 – Supplementary information a) Insurance policy - ITAÚ UNIBANCO HOLDING CONSOLIDATED, despite the reduced risk exposure due to the low physical concentration of its assets, has a policy of insuring valuables and assets at amounts considered sufficient to cover possible losses. b) Foreign currency – The balances in Reais linked to the foreign currencies were as follows: 09/30/2019 09/30/2018 Permanent foreign investments 79,911,154 60,963,937 Net balance of other assets and liabilities indexed to foreign currency, (134,588,997) (108,665,121) including derivatives Net foreign exchange position (54,677,843) (47,701,184) The net foreign exchange position, considering the tax effects on the net balance of other assets and liabilities indexed to foreign currencies, reflects the low exposure to exchange variations. c) Agreements for offsetting and settlement of liabilities within the scope of the National Financial System Offset agreements are in force in relation to derivative contracts, as well as agreements for the offsetting and settlement of receivables and payables pursuant to CMN Resolution 3,263, of February 24, 2005, the purpose of which is to enable the offsetting of credits and debits with the same counterparty, and where the maturity dates of receivables and payables can be brought forward to the date of an event of default by one of the parties or in the event of bankruptcy of the debtor. d) PEC 06/2019 Approved by the National Congress in November 2019, it provides for the Social Security and other matters, also addressing the increase of the tax rate of Social Contribution on Net income for banks, set forth in item I, paragraph 1 of Supplementary Law No. 105, of January 10, 2001, which will be 20% as from its effective date. Said PEC 06/2019 has not had significant accounting effects on the consolidated financial statements of ITAÚ UNIBANCO HOLDING in the period. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 147 Note 19 – Supplementary information a) Insurance policy - ITAÚ UNIBANCO HOLDING CONSOLIDATED, despite the reduced risk exposure due to the low physical concentration of its assets, has a policy of insuring valuables and assets at amounts considered sufficient to cover possible losses. b) Foreign currency – The balances in Reais linked to the foreign currencies were as follows: 09/30/2019 09/30/2018 Permanent foreign investments 79,911,154 60,963,937 Net balance of other assets and liabilities indexed to foreign currency, (134,588,997) (108,665,121) including derivatives Net foreign exchange position (54,677,843) (47,701,184) The net foreign exchange position, considering the tax effects on the net balance of other assets and liabilities indexed to foreign currencies, reflects the low exposure to exchange variations. c) Agreements for offsetting and settlement of liabilities within the scope of the National Financial System Offset agreements are in force in relation to derivative contracts, as well as agreements for the offsetting and settlement of receivables and payables pursuant to CMN Resolution 3,263, of February 24, 2005, the purpose of which is to enable the offsetting of credits and debits with the same counterparty, and where the maturity dates of receivables and payables can be brought forward to the date of an event of default by one of the parties or in the event of bankruptcy of the debtor. d) PEC 06/2019 Approved by the National Congress in November 2019, it provides for the Social Security and other matters, also addressing the increase of the tax rate of Social Contribution on Net income for banks, set forth in item I, paragraph 1 of Supplementary Law No. 105, of January 10, 2001, which will be 20% as from its effective date. Said PEC 06/2019 has not had significant accounting effects on the consolidated financial statements of ITAÚ UNIBANCO HOLDING in the period. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 147

Report on review of parent company and consolidated financial statements To the Board of Directors and Stockholders Itaú Unibanco Holding S.A. Introduction We have reviewed the accompanying balance sheet of Itaú Unibanco Holding S.A. ( Bank ) as at September 30, 2019 and the related statements of income, changes in stockholders´ equity and cash flows for the nine- month period then ended, as well as the accompanying consolidated balance sheet of Itaú Unibanco Holding S.A. and its subsidiaries ( Consolidated ) as at September 30, 2019 and the related consolidated statements of income and cash flows for the nine-month period then ended, and a summary of significant accounting policies and other explanatory notes. Management is responsible for the preparation and fair presentation of these parent company and consolidated financial statements in accordance with accounting practices adopted in Brazil, applicable to institutions authorized to operate by the Brazilian Central Bank. Our responsibility is to express a conclusion on these 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 financial 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 Based on our review, nothing has come to our attention that causes us to believe that the accompanying financial statements referred to above do not present fairly, in all material respects, the financial position of Itaú Unibanco Holding S.A. and of Itaú Unibanco Holding S.A. and its subsidiaries as at September 30, 2019, and the parent company financial performance and its cash flows for the nine-month period then ended, as well as the consolidated financial performance and the consolidated cash flows for the nine-month period then ended, in accordance with accounting practices adopted in Brazil, applicable to institutions authorized to operate by the Brazilian Central Bank. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 148 Report on review of parent company and consolidated financial statements To the Board of Directors and Stockholders Itaú Unibanco Holding S.A. Introduction We have reviewed the accompanying balance sheet of Itaú Unibanco Holding S.A. ( Bank ) as at September 30, 2019 and the related statements of income, changes in stockholders´ equity and cash flows for the nine- month period then ended, as well as the accompanying consolidated balance sheet of Itaú Unibanco Holding S.A. and its subsidiaries ( Consolidated ) as at September 30, 2019 and the related consolidated statements of income and cash flows for the nine-month period then ended, and a summary of significant accounting policies and other explanatory notes. Management is responsible for the preparation and fair presentation of these parent company and consolidated financial statements in accordance with accounting practices adopted in Brazil, applicable to institutions authorized to operate by the Brazilian Central Bank. Our responsibility is to express a conclusion on these 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 financial 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 Based on our review, nothing has come to our attention that causes us to believe that the accompanying financial statements referred to above do not present fairly, in all material respects, the financial position of Itaú Unibanco Holding S.A. and of Itaú Unibanco Holding S.A. and its subsidiaries as at September 30, 2019, and the parent company financial performance and its cash flows for the nine-month period then ended, as well as the consolidated financial performance and the consolidated cash flows for the nine-month period then ended, in accordance with accounting practices adopted in Brazil, applicable to institutions authorized to operate by the Brazilian Central Bank. Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 148

Other matters Statements of added value The financial statements referred to above include the parent company and consolidated statements of added value for the nine-month period ended September 30, 2019. These statements are the responsibility of the Bank's management and are presented as supplementary information for purposes of the Brazilian Central Bank. These statements have been subjected to review procedures performed together with the review of the financial statements for the purpose of concluding whether they are reconciled with the financial statements and accounting records, as applicable, and if their form and content are in accordance with the criteria defined in the accounting standard CPC 09 - Statement of Value Added . Based on our review, nothing has come to our attention that causes us to believe that these statements of added value have not been properly prepared, in all material respects, in accordance with the criteria established in this accounting standard, and that they are consistent with the parent company and consolidated financial statements taken as a whole. São Paulo, November 4, 2019 PricewaterhouseCoopers Auditores Independentes CRC 2SP000160/O-5 Emerson Laerte da Silva Contador CRC 1SP171089/O-3 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 149 Other matters Statements of added value The financial statements referred to above include the parent company and consolidated statements of added value for the nine-month period ended September 30, 2019. These statements are the responsibility of the Bank's management and are presented as supplementary information for purposes of the Brazilian Central Bank. These statements have been subjected to review procedures performed together with the review of the financial statements for the purpose of concluding whether they are reconciled with the financial statements and accounting records, as applicable, and if their form and content are in accordance with the criteria defined in the accounting standard CPC 09 - Statement of Value Added . Based on our review, nothing has come to our attention that causes us to believe that these statements of added value have not been properly prepared, in all material respects, in accordance with the criteria established in this accounting standard, and that they are consistent with the parent company and consolidated financial statements taken as a whole. São Paulo, November 4, 2019 PricewaterhouseCoopers Auditores Independentes CRC 2SP000160/O-5 Emerson Laerte da Silva Contador CRC 1SP171089/O-3 Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 149

ITAÚ UNIBANCO HOLDING S.A. CNPJ. 60.872.504/0001-23 Listed Company NIRE. 35300010230 OPINION OF THE FISCAL COUNCIL The effective members of the Fiscal Council of ITAÚ UNIBANCO HOLDING S.A., after having examined the financial statements for the period from January to September 2019 and verified the accuracy of all items examined, and in view of the unqualified opinion of PricewaterhouseCoopers Auditores Independentes, understand that these documents adequately reflect the company’s capital structure, financial position and the activities conducted during the period, and they have the conditions to be submitted to the appreciation and approval of the Stockholders. São Paulo (SP), September 4, 2019. JOSÉ CARUSO CRUZ HENRIQUES President ALKIMAR RIBEIRO MOURA EDUARDO AZEVEDO DO VALLE Member Member Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 150 ITAÚ UNIBANCO HOLDING S.A. CNPJ. 60.872.504/0001-23 Listed Company NIRE. 35300010230 OPINION OF THE FISCAL COUNCIL The effective members of the Fiscal Council of ITAÚ UNIBANCO HOLDING S.A., after having examined the financial statements for the period from January to September 2019 and verified the accuracy of all items examined, and in view of the unqualified opinion of PricewaterhouseCoopers Auditores Independentes, understand that these documents adequately reflect the company’s capital structure, financial position and the activities conducted during the period, and they have the conditions to be submitted to the appreciation and approval of the Stockholders. São Paulo (SP), September 4, 2019. JOSÉ CARUSO CRUZ HENRIQUES President ALKIMAR RIBEIRO MOURA EDUARDO AZEVEDO DO VALLE Member Member Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 150

ITAÚ UNIBANCO HOLDING S.A. CNPJ 60.872.504/0001-23 A Publicly Listed Company NIRE 35300010230 DECLARATION The Officers responsible for the preparation of the financial statements, in compliance with the provisions in Article 29, paragraph 1, item II, and Article 25, paragraph 1, items V and VI, of Instruction No. 480/2009 of the Brazilian Securities and Exchange Commission (CVM), declare that they: a) read, discussed e agree with the opinions expressed in the independent auditor’s report on the Company’s financial statements for the period from January to September 2019; b) read, discussed and agree with the Company’s financial statements for the period from January to September 2019 and with the Management Discussion and Analysis (MD&A) Report. São Paulo (SP), September 4, 2019. MILTON MALUHY FILHO ALEXSANDRO BROEDEL LOPES Vice President Executive Director Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 151 ITAÚ UNIBANCO HOLDING S.A. CNPJ 60.872.504/0001-23 A Publicly Listed Company NIRE 35300010230 DECLARATION The Officers responsible for the preparation of the financial statements, in compliance with the provisions in Article 29, paragraph 1, item II, and Article 25, paragraph 1, items V and VI, of Instruction No. 480/2009 of the Brazilian Securities and Exchange Commission (CVM), declare that they: a) read, discussed e agree with the opinions expressed in the independent auditor’s report on the Company’s financial statements for the period from January to September 2019; b) read, discussed and agree with the Company’s financial statements for the period from January to September 2019 and with the Management Discussion and Analysis (MD&A) Report. São Paulo (SP), September 4, 2019. MILTON MALUHY FILHO ALEXSANDRO BROEDEL LOPES Vice President Executive Director Itaú Unibanco Holding S.A. – Complete Financial Statements – September 30, 2019 151