Alfredo Setubal, Itaúsa’s CEO and IRO
RECURRING NET
INCOME 2025¹
+11%
DIVIDENDS 2025
+24%
DIVIDEND YIELD³
(LTM 12.31.2024))
ITAÚSA MARKET VALUE⁵
+68% vs. 54% IBOV
RECURRING ROE 2025²
+1,0 P.P.
PAYOUT
+8 P.P.
TOTAL SHAREHOLDER RETURN
(TSR ITSA4)⁴
+59% vs. 34% IBOV
PORTFOLIO MARKET
VALUE (NAV)⁶
+66% vs. 54% IBOV
(1) A ributable to controlling shareholders.
(2) ROE (Return on Equity) including annualized Net Income.
(3) According to market convention, Dividend Yield refers to the last 12 months and is calculated on gross adjusted dividends to share subscription and bonus.
(4) Calculated based on the closing price of Itaúsa’s preferred shares (ITSA4) on 12.31.2025 and 12.31.2024 (adjusted for dividends), and does not consider treasury shares.
(5) Calculated based on the closing price of Itaúsa's preferred shares (ITSA4) on 02.27.2026 and 02.28.2025 (without adjustment for dividends), and does not consider treasury shares.
(6) It considers the closing prices on 02.27.2026 and 02.28.2025 of the most liquid shares of Itaú Unibanco (ITUB4), Dexco (DXCO3), Alpargatas (ALPA4) and Motiva (MOTV3) (without adjustment for dividends), and does not consider treasury shares, the investment value of Copa Energia, the fair value of NTS, in addition to the other assets and liabilities recorded in Itaúsa's individual balance sheet, referring to 12.31.2025 and 12.31.2024. Regarding Aegea Saneamento, for 02.27.2026, the estimated market value based on the capital increase transaction carried out in February 2026 was considered, and for 02.28.2025, the investment value on 12.31.2024 was considered.
In the latest edition of Itaúsa Cast, Itaúsa’s CEO and Investor Relations O cer Alfredo Setubal and Head of Corporate Communications Viviane Perino o discuss our record earnings for 2025, as well as por olio highlights, return to shareholders, and the long-term value creation strategy. This episode also addresses how Itaúsa puts its values into action to turn earnings into a positive impact for Brazil.
Itaú Unibanco
Setor Financeiro
R$ 45,4 BILHÕES
LUCRO LÍQUIDO RECORRENTE
+10%
21,8%
ROE RECORRENTE
+0,7 P.P.
Dexco
Setor de Construção Civil e Materiais de Acabamento
R$ 1,9 BILHÕES
EBITDA AJUSTADO E RECORRENTE²
+19%
R$ 46 MILHÕES
LUCRO LÍQUIDO RECORRENTE²
-77%
Alpargatas
Setor de Bens de Consumo
R$ 866 MILHÕES
EBITDA RECORRENTE
+146%
R$ 611 MILHÕES
LUCRO LÍQUIDO RECORRENTE
+285%
Motiva
Setor de Infraestrutura e Mobilidade
R$ 10,2 BILHÕES
EBITDA AJUSTADO E RECORRENTE
+15%
R$ 2,2 BILHÕES
LUCRO LÍQUIDO RECORRENTE
+25%
Aegea
Setor de Saneamento Básico
9M25 vs. 9M24³
R$ 6,4 BILHÕES
EBITDA CONSOLIDADO⁴
+39%
R$ 1,7 BILHÃO
LUCRO LÍQUIDO CONSOLIDADO⁴
+18%
R$ 1,2 BILHÃO
LUCRO LÍQUIDO CONTROLADOR⁴
+163%
Copa Energia
Setor de Distribuição de GLP
R$ 1,3 BILHÃO
EBITDA E RECORRENTE
+16%
R$ 705 MILHÕES
LUCRO LÍQUIDO RECORRENTE
+18%
NTS
Setor de Transporte de Gás Natural
R$ 7,2 BILHÕES
EBITDA
+10%
R$ 3,6 BILHÕES
LUCRO LÍQUIDO
+8%
Our Board of Directors approved the payment of interest on capital in the gross amount of R$1.3 billion (R$0.116 per share), corresponding to a net amount of R$1.1 billion (R$0.0957 per share), already considering the 17.5% income tax withheld at source.
SHAREHOLDING POSITION:
MARCH 19, 2026
TO BE PAID:
BY AUGUST 31, 2026
Want to learn more about our compensation policy, payment schedule, and track record of dividends?
The "Earnings in Focus" live streaming event was another opportunity to dialogue with the market, when we unveiled Itaúsa's and the por olio companies' 2025 earnings and shared our long-term vision and the pillars guiding our decision-making. We also addressed our liability management strategy, aimed at reducing debt, extending maturities and lowering the cost of debt, while preserving proper liquidity levels.
Our CFO Priscila Grecco was a guest at CNN Money and unveiled our holding company’s record earnings for 2025. In the interview, she commented on our por olio companies’ performance and underpinned the strength of the financial sector and the strategic evolution of our non-financial companies.
2025 was a year of consolidation and implementation for Instituto Itaúsa. Outstanding figures showcased more than R$52 million invested, 44 partners and 55 projects supported, not even mentioning the strategic advancements in the Productivity & Sustainability agenda. This is how we keep on contributing to make the Brazilian economy more productive, resilient and ready for the future.
| ITAÚSA | 2026-02-27 | 2026-01-30 | CHANGE |
|---|---|---|---|
| Number of shares (in millions)¹ | 11.211 | 11.211 | 0,0% |
| Common share closing price (ITSA3) - R$² | 14,30 | 13,77 | 3,8% |
| Preferred share closing price (ITSA4) - R$² | 14,25 | 13,64 | 4,5% |
| Market value (in R$ million)³ | 159.986 | 153.147 | 4,5% |
| Holding discount⁴ | 23,8% | 25,1% | -1,3 p.p. |
| Ibovespa Index closing (points) | 188.787 | 181.364 | 4,1% |
1. It includes the sum of preferred and common shares, but excludes treasury shares.
2. It considers the share price adjusted for dividends distributed.
3. It considers the price of the highest liquid share (ITSA4) not adjusted for dividends.
4. Holding discount is the result of the di erence between Itaúsa's market value and the total value of its assets (NAV).