RECURRING
NET INCOME
+17% vs. 1Q25
ITAÚSA’S MARKET VALUE
+53% vs. Mar/25 vs. +44% IBOV
DISCOUNT (MAR/26)
-6.7 p.p. vs. Dec/25
DIVIDEND YIELD
(LTM 03.31.2026)
RECURRING ROE
+2.7 p.p. vs. 1Q25
PORTFOLIO MARKET VALUE (NAV)
+44% vs. Mar/25
vs. +44% IBOV
RETURN TO
SHAREHOLDERS
+39% vs. 1Q25
TOTAL SHAREHOLDER
RETURN (TSR ITSA4)
vs. +44% IBOV
We closed 1Q26 with recurring net income of R$4.5 billion and recurring ROE of 20.1%, as a result of the investee’s improved performance and the capital allocation discipline, even amid a more uncertain global scenario. We continue to consistently create value, and the highlights are Itaú Unibanco and the evolution of non-financial companies.
In the quarter, we increased our equity interest in Aegea to 13.27%, through capitalization in the amount of R$418.1 million. We had a sound financial structure, with high liquidity levels and improved debt profile, as a result of financial management initiatives implemented in recent years.
Return to shareholders remained consistent: we distributed R$1.3 billion in earnings in the period, up 39% on a year-on-year basis.
In the last 12 months, dividend yield reached 8.8%, among the highest on the B3 stock exchange, and total return to shareholders (TSR) reached 68%, outperforming main market indices.
We remained focused on financial discipline, strong governance, and close monitoring of investees, with a focus on the creation of sustainable value in the long term.
Alfredo Setubal – Itaúsa’s CEO and Investor Relations Officer
In the latest edition of Itaúsa Cast, Itaúsa’s CEO and Investor Relations Officer Alfredo Setubal and Head of Corporate Communications Viviane Perinotto discuss our earnings for the 1st quarter of 2026, as well as portfolio highlights, return to shareholders, and the long-term value creation strategy. This episode also addresses how Itaúsa puts its Values into Action to turn earnings into a positive impact for Brazil.
Itaú Unibanco
Financial sector
R$ 11.9 BILLION
RECURRING NET INCOME¹
+13% vs. 1Q25
22.9%
RECURRING ROE
+2.4 p.p. vs. 1Q25
Dexco
Civil construction and finishing materials industry
R$ 559 MILLION
ADJUSTED AND RECURRING EBITDA²
+19% vs. 1Q25
R$ 53 MILLION
RECURRING NET INCOME¹ ²
-25% vs. 1Q25
Alpargatas
Consumer goods industry
R$ 300 MILHÕES
RECURRING EBITDA
+45% vs. 1Q25
R$ 173 MILLION
RECURRING NET INCOME¹
+44% vs. 1Q25
Motiva
Infrastructure and mobility industry
R$ 2.3 BILLION
ADJUSTED AND RECURRING EBITDA
+9% vs. 1Q25
R$ 627 MILLION
RECURRING NET INCOME
+16% vs. 1Q25
Aegea³
Basic sanitation industry
R$ 2.3 BILLION
RECURRING EBITDA (CONSOLIDATED)
+51% vs. 1Q25
R$ 89 MILLION
RECURRING NET INCOME (CONSOLIDATED)
-20% vs. 1Q25
R$ -52 MILLION
NET LOSS (CONTROLLING SHAREHOLDER):
vs. NET INCOME OF
R$586 MILLION IN 1Q25
Copa Energia
LPG distribution industry
R$ 194 MILLION
RECURRING EBITDA
+11% vs. 1Q25
R$ 150 MILLION
RECURRING NET INCOME
+27% vs. 1Q25
NTS
Natural gas transportation industry
R$ 1.5 BILLION
EBITDA
-14% vs. 1Q25
R$ 796 MILLION
NET INCOME
-10% vs. 1Q25
1. Attributable to controlling shareholders.
2. It includes 49% of LD Celulose’s Net Income.
3. Aegea’s results for 2025 were restated.
| ITAÚSA | 2026-04-30 | 2026-03-31 | CHANGE |
|---|---|---|---|
| CAPITAL MARKETS¹ | 11.212 | 11.211 | 0,0% |
| Common share closing price (ITSA3) - R$² | 13,83 | 13,87 | -0,3% |
| Preferred share closing price (ITSA4) – R$² | 13,92 | 13,98 | -0,4% |
| Market value (R$ million)³ | 156.071 | 156.735 | -0,4% |
| Holding discount⁴ | 19,3% | 19,4% | -0,1 p.p. |
| Ibovespa Index closing (points) | 187.318 | 187.462 | -0,1% |
1. It includes the sum of preferred and common shares, but excludes treasury shares.
2. It includes the share price adjusted for dividends distributed.
3. It includes the price of the highest liquid share (ITSA4) not adjusted for dividends.
4. Holding discount is the result of the difference between Itaúsa's market value and the total value of its assets (NAV).
