Itaú Colombia Institutional Presentation 2Q18

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1 Itaú Colombia Institutional Presentation 2Q18 June 2018

2 Itaú Colombia Who we are? We maintain the group s structure with Itaú CorpBanca in Chile as our parent company and Itaú in Brazil as controlling shareholder. Itaú Unibanco 36.06% 1 Saieh Family % Itaú CorpBanca CorpGroup Helm Minority IFC 3.32% 80.0% 66.28% 12.36% 20.82% 0.54% Others 29.97% Itaú CorpBanca Colombia Itaú Corredor de Seguros 94.0% 94.5% 95.0% 100% Itaú Fiduciaria Itaú Securities Services Itaú Comisionista de Bolsa Itaú (Panamá) 3 100% Itaú Casa de Valores (Panamá) 2 Source: Itaú CorpBanca Colombia 1. Since April 2016 Itaú Unibanco increased it s participation by 2.48%, percentage sold by the Saieh Family according to what was established in the Shareholder s Agreement. 2. Includes 182,125,023 shares owned by Cia. Inmobiliaria and Inversiones Saga S.A that are under custody. 3. Itaú (Panama) has international license.

3 Itaú Unibanco Retail Footprint in Latin America Jun-18 Mexico CIB Employees: 8 Colombia¹ Panama Employees: 3,536 Branches + CSB: 163 ATMs: 174 Peru Representative Office Brazil Employees: 86,144 Branches + CSBs: 4,388 ATMs: 46,463 CIB Minorista Chile Employees: 5,988 Branches + CSBs: 199 ATMs: 466 Argentina Employees: 1,720 Branches + CSBs: 87 ATMs: 178 Uruguay Paraguay Employees: 1,112 Branches +CSBs: 27 Points of Service OCA: 35 ATMs: 62 Employees: 837 Branches + CSBs: 40 ATMs: 307 Non-bank Correspondents: 57 3 (1) Considers employees and branches from Panama

4 Itaú Unibanco At a glance Leading position in Brazil US$67.6 billion market cap 1 99,914 employees in Brazil and abroad 4,904 branches and CSBs in Brazil and abroad 47,650 ATMs in Brazil and abroad Brazilian multinational bank Major provider of finance for the expansion of Brazilian companies In 2017 Itaú Unibanco was elected the The Best Company in People Management (by Valor Carreira magazine) and also recognized as a pro-ethics company (Pró-Ética), an initiative between the Office of the Comptroller General 2 with the private sector, which encourages the voluntary adoption of integrity measures and corruption prevention in the business sector, being the only financial institution among the companies approved. Financial Highlights and Ratios As of and for the quarter ended June 2018 Highlights Total Assets (*) Total Loans (1) Stockholders Equity Recurring Net Income 2017 (2) (*) Recurring Net Income 2Q18 (3) (*) Long Term Foreign Currency (Itaú Unibanco Holding) Financ ial Ratios USD Bn USD Bn USD 31.4 Bn USD 6.4 Bn USD 1.7 Bn Moody s: Ba3 Fitch BB S&P BB- Global Footprint of Brazil s Top Private Sector Bank Jun. 30, 2018 Recurring ROE 2017 (4) (*) Recurring ROE 2Q18 (5) (*) Efficiency Ratio 2017 (6) Efficiency Ratio 2Q18 (6) Liquidity Coverage Ratio Common Equity Tier I 21.8% 21.6% 46.4% 47.1% 169% 15.1% (*) Includes the consolidation of Citibank in the 4Q17. (1) Includes financial guarantees provided. (2) Represents Net Income adjusted for certain non recurring events described in the 1Q18 MD&A Executive Summary. (3) Represents Net Income adjusted for certain non recurring events described in the 1Q18 MD&A Executive Summary. (4) Calculated using Recurring Net Income / Average Equity. For annualized calculation method, please refer to Historical Series Spreadsheet. (5) Calculated using Recurring Net Income / Average Equity. For annualized calculation method, please refer to the 1Q18 MD&A Executive Summary. (6) See Efficiency Ratio slides in this presentation for criteria. 4 Exchange rate of BRL 3,8758 / USD as of June 30, As of June 30, Source: Economatica. 2. Controladoria-Geral da União (CGU)

5 Organizational Structure Strong and integrated Corporate Governance Board Chile Itaú CorpBanca CEO Milton Maluhy Audit Comitee CAE Emerson Bastián CFO CRO Treasury Marketing & Products Colombia Wholesale Retail Human Resources Legal & Compliance IT Operations Gabriel Moura Mauricio Baeza Pedro Silva Rogério Braga Álvaro Pimentel Christian Tauber Julián Acuña Marcela Jiménez Cristián Toro Luis Rodrigues 3 Jorge Novis Board Colombia Chairman Milton Maluhy Itaú CorpBanca Colombia CEO Álvaro Pimentel CFO CRO Treasury Franchise, Products & Digital Communic. & Institut. Relat. Wholesale Retail Human Resources Legal & General Secretary IT Operations María C. Vandame Juan Ignacio Castro Derek Sassoon Luciana Hildebrandi Carolina Velasco Jorge Villa Hernando Osorio María Lucía Ospina Dolly Murcia Lilian Barrios Liliana Suárez Ricardo Villela Marino Board Chile 1 2 Chairman Jorge Andrés Saieh Guzmán Eduardo Mazzilli de Vassimon Boris Buvinic Guerovich Andrés Bucher Cepeda Pedro Samhan Escandar Fernando Concha Ureta Jorge Selume Zaror Fernando Aguad Dagach Gustavo Arriagada Morales Bernard Pasquier Roberto Brigard Holguín Luis Fernando Martínez Lema Carmiña Ferro Iriarte Rafael Pardo Soto Board Colombia Chairman Milton Maluhy Juan Echeverría González Gabriel Moura Rogério Braga Mónica Aparicio Smith Matrix reporting to CEO Colombia and functional reporting to ITCB Functional reporting to CEO Colombia and matrix reporting to ITCB for coordination of specific themes 5 1- Itaú Unibanco and CorpGroup appoint the majority of the members of the board of directors; 2- Pursuant to the Shareholders Agreement, the Directors appointed by Itaú Unibanco and CorpGroup shall vote together as a single block according to Itaú Unibanco s recommendation. 3- Responsible for the technological integration process in Colombia

6 Itaú CorpBanca Colombia Highlights Bank #6 in Colombia, with presence in 30 locations in Colombia 2 and one in Panama Itaú Colombia s Footprint as of June 30, 2018 MS: 4,9% #Player: 6 by assets TIER I: 9,2% Total Capital Ratio: 13,7% NPLs 30-days: 4,0% 3 Net Inc. FY17: USD -41,4 MM Net Inc. 2Q18: USD -6,1 MM USD$ 10BN Assets USD$ 7BN Gross Loans 443 M Clients# Employees # 174 ATMs # 163 Branches # 6 Source: Superintendencia Financiera & Itaú CorpBanca Colombia, Exchange rate of COP 2930,80 per 1 USD as of June 30, Depuration in the number of accounts due to the technologic migration process. 2. Includes cities and major municipalities 3. NPLs 30-days.

7 Itaú CorpBanca Colombia Accomplishments The Bank continues with its plan of implementation of Itaú s model in Colombia. Successfully completes the milestones set for Change of strategy for the IT integration Liquidity and Market risks alignment Gradual reduction in the market-risk limits Implementation of operational-risk standards Beginning of Wholesale Loan Portfolio revision Incorporation of Corporación Financiera Itaú BBA (people and assets) Introduction of the Itaú Brand Beginning of technological migration Wholesale-Credit project Restructuring of the Retail-Credit area Beginning of Retail Loan Portfolio revision Creation of Franchise, Products & Digital Evaluation of products and businesses Creation of the Commission of Capital Culture phase I Completion of IT migration Digital strategy Reorientation of Retail Banking Customer Service Quality Culture phase II Reorientation of financial results Sustainable performance in the long term 7 Source: Itaú CorpBanca Colombia

IT integration Migration stages Since January 22,100% of the branches are branded Itaú, getting ahead of the set schedule 01 Individuals 100% of clients migrated Service and software stable at

8 IT integration Migration stages Since January 22,100% of the branches are branded Itaú, getting ahead of the set schedule 01 Individuals 100% of clients migrated Service and software stable at branches Contact Center s key indicators with positive balance Total of clients migrated 02 Companies 100% of clients migrated Software and customer service stable Confirming successfully implemented Total of clients migrated 8 Source: Itaú CorpBanca Colombia,

9 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Macroeconomic outlook Key indicators Itaú Colombia continues to move forward successfully in it s integration process despite a low-growth scenario for the country and a downgrade of the sovereign rating by S&P Central Bank Rate (%) Inflation (y/y) (%) 9,0 4,50 4,50 4,75 5,75 6,50 7,50 7,75 7,50 7,00 5,75 5,25 4,75 4,50 4,25 7,3 Target 2% - 4% 5,8 4,7 4,0 4,0 4,1 3,1 3,2 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 GDP Growth (%) 1 Nominal growth of the Banking System s Loans (%) Financial Total Gross Due 52,5 50,0 45,5 6,1 5,5 5,4 37,3 5,0 5,2 5,4 4,8 4,7 31,7 4,3 4,3 3,8 3,2 3,4 22,9 23,5 18,2 11,5 3,0 3,3 3,4 2,6 2,5 2,5 1,7 2,0 2,2 1,8 1,2 1,3 1,2 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 9 Source: Macroeconomic Studies Itaú CorpBanca Colombia & Superintendencia Financiera 1: 12-month growth

10 Net Interest Margin Positive evolution The Bank s NIM maintains it s recovery trend NIM (%) 1 5, Average NIM 4, Average NIM 4, Average NIM 5, Average NIM 7,50 7,75 7,75 7,75 7,75 7,50 7,50 7,25 7,00 7,00 6,25 6,25 5,50 5,50 5,25 5,02 4,95 5,03 4,70 4,96 5,02 5,20 5,70 5,27 4,07 4,20 4,09 4,16 4,41 4,72 4,40 4,51 4,57 4,81 4,78 5,00 4,75 4,75 4,43 4,50 4,50 4,50 4,01 4,25 4,25 4,25 3,39 3,40 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 NIM CenBank Rate Loans and Deposits Implicit Rates (%) 13% 12% 11% 10% 9% 8% 7% 6% 5% 4% 3% Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 10,6 6,2 5,7 4,3 3,4 Loans Bonds TDs CenBank Savings 10 Source: Superintendencia Financiera & Itaú CorpBanca Colombia 1 NIM Loans Interest Deposits Interest expenses / Gross Loans. Includes the cost of bonds, rediscounted loans and foreign currency loans. Annualized monthly NIM

11 Funding evolution Focus on structure The Bank maintains it s structural funding and increases the average duration of the TDs Funding Mix (%) Bonds TDs Savings Checking Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 TDs by duration (%, USD Bn) Itaú Jun-17 Itaú Jun-18 System Jun-18 11% 13% 16% Less than 6 months 17% 53% $3.7 49% $3.4 20% 49% $ % From 6 months and less than 12 months 19% 18% 16% From 12 months and less than 18 months 18 months or more 11 Source: Superintendencia Financiera & Itaú CorpBanca Colombia. Exchange rate of COP 2930,80 per 1 USD as of June 30, 2018

12 2/6/17 9/6/17 16/6/17 23/6/17 30/6/17 7/7/17 14/7/17 21/7/17 28/7/17 4/8/17 11/8/17 18/8/17 25/8/17 1/9/17 8/9/17 15/9/17 22/9/17 29/9/17 6/10/17 13/10/17 20/10/17 27/10/17 3/11/17 10/11/17 17/11/17 24/11/17 1/12/17 8/12/17 15/12/17 22/12/17 29/12/17 5/1/18 12/1/18 19/1/18 26/1/18 2/2/18 9/2/18 16/2/18 23/2/18 2/3/18 9/3/18 16/3/18 23/3/18 30/3/18 6/4/18 13/4/18 20/4/18 27/4/18 4/5/18 11/5/18 18/5/18 25/5/18 1/6/18 8/6/18 15/6/18 22/6/18 29/6/18 Liquidity Management under Basel III standards Continues with a strong liquidity management maintaining an LCR (Liquid Coverage Ratio) above 100% Liquid Coverage Ratio - IRL 30 days (%) 500% 450% 400% 350% 307% 300% 250% 200% Ratio between Loan Portfolio and Funding 1 (%, USD Bn) 90,5% 95,4% 93,9% 96,3% 95,2% 97,7% 100,3% 101,4% 102,2% Net Loans Deposits 7,1 7,8 7,1 7,4 6,9 7,4 7,0 7,2 7,0 7,4 6,9 7,0 6,7 6,7 6,6 6,5 6,7 6,5 Ratio Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun Source: Itaú CorpBanca Colombia. Exchange rate of COP 2930,80 per 1 USD as of June 30, : Funding: Savings and Checking accounts, Term Deposit and Bonds

Loan Portfolio Evolution and mix The focus will be increasing the size of the Retail Banking business, reaching a proportion similar to that of the average of Banks in the medium term.

13 Loan Portfolio Evolution and mix The focus will be increasing the size of the Retail Banking business, reaching a proportion similar to that of the average of Banks in the medium term. Loans by Type 1 (USD Bn, %) Loans by Segment 1 $ 7,4 $ 7,4 $ 7,1 $ 143,2 3% 10% 11% 13% 13% 7% 4% 3% 23% 23% 21% 7% 35% 28% 10% 67% 66% 67% 56% 34% Jun-16 Jun-17 Jun-18 System Commercial Consumer Mortgage Microloans 35% Corporate 7% Construction 34% Individuals 4% Institutional 10% Medium Enterprises 3% Private 7% Small Enterprises 14 Source: Itaú CorpBanca Colombia. Exchange rate of COP 2930,80 per 1 USD as of June 30, Gross Loans

14 Credit-Risk Ratios Evolution Itaú Colombia maintains a conservative position as to Credit-Risk evaluation and provisions policies, anticipating cases of credit deterioration NPLs 30 days (%) B, C, D, E Loans / Gross Loans (%) Itaú Total Banks 3,0 2,5 3,3 3,2 3,1 3,9 2,9 3,0 4,2 4,4 4,3 3,5 3,7 3,8 4,8 4,9 4,8 4,0 7,1 7,1 9,0 7,2 9,8 9,9 9,9 10,0 7,8 8,9 9,4 9,6 11,5 9,9 11,2 11,8 10,2 10,4 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Coverage 1 (%) B, C, D, E Loans Coverage (%) 179,6 171,5 164,5 166,0 150,5 152,6 145,1 146,8 155,5 137,1 150,7 142,8 125,2 134,0 128,2 124,9 123,9 125,0 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 64,0 64,9 61,6 58,5 55,7 55,3 56,9 57,7 59,0 60,8 58,1 52,8 53,3 54,1 55,0 55,0 50,3 51,7 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun Source: Superintendencia Financiera & Itaú CorpBanca Colombia, 1: Loan Loss Provisions / Past Due loans above 30 days

15 Loan Provisions On the second half of 2016 the Bank evaluated it s Wholesale Loan Portfolio, and on second half of 2017 the Retail Loan Portfolio LLP expense / Gross Loans 1 (%) Itaú Total Banks 1,8 1,6 0,6 1,0 0,6 0,6 0,8 0,7 0,6 0,8 0,8 0,8 0,7 1,0 0,8 0,8 0,7 1,3 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Risk indicator = Allowance for Loan Losses / Gross Loans (%) 6,3 6,5 6,1 4,6 4,7 4,3 4,7 5,2 4,8 5,0 5,0 5,3 5,5 5,2 5,5 5,7 6,0 6,1 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun Source: Superintendencia Financiera & Itaú CorpBanca Colombia, 1. Quarterly Expense.

16 Other P&L concepts Commissions and Investments The Bank is redirecting it s income generation towards recurring sources and more profitable businesses, aligned with it s strategy of sustainable profitability in the long term. Net Income Jun-18 (USD millions) 367,2 162,5 25,8 16,2 94,5 76,7 62,3 19,3 0-6,1 Interest income from loans and leases Interest expense Derivatives and portfolio income Net comissions and fees Net LLPs Administrative expense Personnel expenses Other expense Taxes Net Income 12-month variation -11% -26% -20% -30% -15% -2% 0% +15% +73% 17 Source: Superintendencia & Itaú CorpBanca Colombia. Exchange rate of COP 2930,80 per 1 USD as of June 30, 2018 Grouping according to the Indicadores Gerenciales Criteria published by Superintendencia Financiera.

17 Profit Trend of recovery In 2017 (a year of lower profitability for the Financial System) Itaú showed a trend of recovery ending with a ROE of -3,4%. The trend continues for 2Q18. Quarterly Income (USD millions) Loss 2016: - $51 +20% Loss 2017: - $41 20,2 10,4 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 1Q16 2Q16-10,9-11,4-10,0-9,2-5,8-0,3-31,2-50,9 ROE & ROA 1 (%) ROE ROA 10,76 5,94 2,73 0,7 0,32 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 1,39 Jun-16 Sep-16-0,47-0,77-0,99-0,79-0,40-0,35-0,24-4,03-3,45-3,05-2,13-6,55-6,84-8,43 Banks Jun Source: Superintendencia & Itaú CorpBanca Colombia. Exchange rate of COP 2930,80 per 1 USD as of June 30, : 12 months net Income over 12 months average of equity and assets

18 Capital Ratios Stable Regulatory Capital Ratio The Regulatory Capital Ratio remains stable after the results from the years 2016 and 2017 Non-consolidated regulatory capital ratio Jun-18 (USD MM, %) 9,2% 13,7% Consolidated regulatory capital ratio Jun-18 1 (%) Non- Consolidated 16,0% 20,9% 13,4% 15,8% 13,7% Tier 1 w/o deductions Good will Tier 1 Subordinated Debt Other Regulatory Capital Tier1+Tier2 Consolidated 13,5% 13,3% 13,0% 12,7% 13,0% Non-Consolidated Regulatory Capital Evolution Jun-18 (%) 12,8% 12,8% 13,1% 12,8% 12,7% 12,7% 12,7% 13,8% 13,7% Tier 1 Consolidated 10,0% 9,1% 10,5% 8,5% 8,8% 9,3% 9,7% 9,7% 9,5% 9,3% 9,4% 9,3% 9,4% 9,2% Bancolombia Bogotá Occidente Davivienda Itaú Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun Source: Superintendencia & Itaú CorpBanca Colombia. Exchange rate of COP 2930,80 per 1 USD as of June 30, : Source: Annual reports of each bank.

19 Itaú Colombia Risk Ratings Itaú CorpBanca Colombia has an Investment Grade rating of BBB-, and two local ratings in Colombia: one AAA and one AA+ FITCH S&P Moody s Colombia Sovereign BBB / Stable Oct./2017 BBB- / Stable Jan./2018 Baa2 / Negative Feb./2018 Itaú CorpBanca Colombia IDR (Issuer Default Rating) BBB- / Negative Apr./2018 Itaú CorpBanca Colombia National, Long-Term AA+ / Stable Apr./2018 AAA / Stable Feb./2018 Itaú CorpBanca Colombia National, Short-Term F1+ Apr./2018 BRC 1+ Feb./ Source: Itaú CorpBanca Colombia, Rating Agencies

20 Itaú Colombia Key takeaways The implementation of the Itaú model continues as planned. The brand change and technological migration processes were completed successfully and in advance. The Bank has a better Balance-Risk position compared to prior years and a stronger Liquidity-Risk position than the average for the Colombian Banks. Diversification, reduction in concentration, and increase in the duration of the Bank s funding. Strength in Credit-Risk evaluation Results show a trend of recovery, building sustainable profitability in the long term. Levels of Capital remain stable in spite of the losses reported. 21 Source: Itaú CorpBanca Colombia

21 Itaú Colombia Institutional Presentation 2Q18

Itaú CorpBanca Colombia Institutional Presentation

Itaú CorpBanca Colombia Institutional Presentation June 2017 Agenda 1. Itaú Unibanco 2. Itaú CorpBanca 3. Itaú CorpBanca Colombia Itaú Unibanco At a Glance Leading position in Brazil through key competitive