Intercorp Financial Services : Investor Presentation - IFS, June 2024

Management Presentation

June 2024

Safe Harbor for Forward-Looking Statements

This corporate presentation contains "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1955. Other than statements of historical or current facts, all statements included in this presentation regarding IFS' business, financial condition, results of operations and certain of IFS' plans, objectives, targets, assumptions, projections, expectations or beliefs and statements regarding other future events or prospects are forward-looking statements. These statements include, without limitation, those concerning: (i) IFS' strategy and IFS' ability to achieve it; (ii) expectations regarding sales, profitability and growth, expected or assumed future results of operations, dividends, capital expenditures and investment plans; (iii) adequacy of capital; and (iv) financing plans, objectives or goals and anticipated trends. In addition, this presentation includes forward-looking statements relating to IFS' potential exposure to various types of market risks, such as macroeconomic risk, political and geopolitical risks, foreign exchange rate risk, interest rate risks and other risks related to IFS' financial performance. The words "aim," "may," "will," "expect," "is expected to," "anticipate," "believe," "future," "continue," "help," "estimate," "plan," "potential," "target," "project," "achieve," "schedule," "intend," "should," "would," "seeks," "estimates," "shall," or the negative or other variations thereof, as well as other similar expressions regarding matters that are not historical facts, are or may indicate forward- looking statements.

IFS has based these forward-looking statements on its management's current views with respect to future events and financial performance. These views reflect the best judgment of IFS' management but involve a number of risks and uncertainties which could cause actual results to differ materially from those expected in IFS' forward-looking statements and from past results, performance or achievements. Although we believe that the estimates reflected in the forward-looking statements are reasonable, such estimates may prove to be incorrect. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things:

1. IFS' holding company structure; (b) economic, business and political developments in Peru and globally; (c) changes in Peruvian, Panamanian and Bahamian and other foreign laws and regulations, including the adoption of new capital requirements for banks or insurance companies and heightened regulatory and governmental oversight; (d) increased competition in the Peruvian financial services and insurance markets; (e) increased inflation; (f) exchange rate instability and government measures to control foreign exchange rates; (g) developments affecting the purchasing power of middle income consumers or consumer spending generally; (h) increases in interest rates; (i) downturns in the capital markets and changes in capital markets in general that affect policies or attitudes towards lending to Peru or Peruvian companies or securities issued by Peruvian companies; (j) IFS' ability to keep up with technological changes, including, without limitation, artificial intelligence; (k) the inability to obtain the capital we need for further expansion of IFS' businesses; (l) the inability to attract and retain key personnel; (m) changes in tax laws; (n) severe weather, natural disasters and adverse climate changes; (o) pandemic, epidemics or other diseases and health emergencies; (p) geopolitical conflicts; (q) changes in regional or global markets; (p) dependence on sovereign debt in IFS' investment portfolios; (r) credit and other risks of lending, such as increases in defaults of borrowers; (s) increased costs of funding or IFS' inability to obtain additional debt or equity financing on attractive terms or at all; (t) a deterioration in the quality of IFS' assets; (u) allowances for impairment losses may be inadequate; (v) changes to accounting standards; (w) changes in actuarial assumptions upon which IFS' annuity business is based; (x) failure to adequately price insurance premiums; (y) decreases in the spread between investment yields and implied interest rates in annuities; (z) dependence on information technology systems and cybersecurity risks; (aa) ability to appropriately address social, environmental and sustainability concerns that may arise, including from business activities; and (bb) other risks and uncertainties.

Additionally, new risks and uncertainties can emerge from time to time, and it is not possible for IFS to predict all future risks and uncertainties, nor can IFS assess their potential impact. Accordingly, you should not place undue reliance on forward-looking statements as a prediction of actual results.

All forward-looking statements included in this corporate presentation are based on information available to IFS on the date of this corporate presentation. IFS undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law. All other written and oral forward-looking statements attributable to IFS or persons acting on IFS' behalf are expressly qualified in their entirety by the cautionary statements contained throughout this corporate presentation.

1

Interbank in numbers (3M24)

5.1%	22%	10%	15%
Net interest	MS consumer	MS commercial	MS retail
income	loans	loans	deposits
40%	5.0 77%
	C/I Retail customers	Digital
	ratio	(mn)	customers

As of March 31, 2024

2

Interbank

at a glance

Leading bank in Peru with consistent financial performance

Financial highlights
As of March 31, 2024	S/ mn | US$ mn
Assets (1)	70,689 | 19,013
Gross loans(1)	46,108 | 12,401
Deposits (1)	48,132 | 12,946
ROE	6.6%
Efficiency ratio	40.4%
PDL ratio	3.5%
TCR ratio	15.1%
CET 1 ratio	11.3%

	Source: Superintendencia de Banca, Seguros y AFP (SBS) and Interbank as of March 31, 2024
4	1)	Figure converted to US dollars using an end of period exchange rate (Sol / US dollar) of 3.718
2)	Ranking among four largest Peruvian banks
	3)	Payroll deductible loans to public sector employees

Leading position in the Peruvian banking system(2)

#3	#2	#1
15.1%	21.9%	21.8%
Market share in	Market share in	Market share in
retail deposits	consumer loans	payroll loans(3)

	151
61	Fin. stores	77%
1,672
	ATMs
NPS	7,163	Digital
customers
	Correspond. agents

Cornerstone of IFS, a leading financial services platform

Financial highlights

Four key businesses

99.3%

99.8%

100.0%

As of Mar24	S/ mn | US$ mn
Total assets (1)	92,466 | 24,870
Net profit (1)	141 | 38
ROE	5.6%
Efficiency ratio	37.3%

Universal bank with strategic focus on retail

#2 Consumer loans MS 21.9%

#3 Retail deposits MS 15.1%

CET1

11.3%

100.0%

Insurance company focused on life & annuities

#1 Annuities (2)

MS 31.3%

#3 Total assets

Solvency ratio 129.3%

Pillar for building our payments ecosystem

Advisory firm for the emerging wealthy

US$ 6,462 mn AUM

Fees / Avg. AUM 0.6%

Capitalization ratio 17.6%

• 1.4 mn merchants

5	Source: Company information and SBS as of March 2024
1) Figure converted to US dollars using an end of period exchange rate (Sol / US dollar) of 3.718

1. Excluding private annuities

Intercorp Group: striving to make Peru the best place to raise a family in Latin America

Financial	Retail
services
US$ 8.9bn
	Revenues in 2023
	~3.4% of Peru 2023 GDP
Education	Other (1)

6	Source: Company information and Central Bank
1) Related companies excluding Aviva and Urbi

Interbank's solid track record in capital markets

Intercorp Peru

Interbank issues

Creation of IFS as the

US$200mm hybrid

Interbank issues

controlling shareholder

acquires Banco

Tier 1 bonds

US$200mm

Internacional del Peru

Interbank issues US

syndicated senior loan

from the Peruvian

government

$400mm senior

bonds

2018

2017

2012

2013

2014

1994

2006

2010

Interbank issues

US$300mm

subordinated Tier 2

Redeems US$300mm

T2 bond

IFS executes a SEC IPO

of ~US$470mm

2024

2020

2019

	Interbank issues
Interbank issues	US$300mm in
subordinated Tier 2
US$400mm and
bonds
PEN312mm in senior

Creation of IFS as the controlling shareholder

Interbank reopens	Interbank issues
US$250mm of its	US$300mm in
senior bonds due	subordinated Tier 2
2020

Interbank issues

US$200mm in senior bonds, to exchange its senior bonds due 2020

bonds, with a tender	Interbank executes a
offer of its senior
call option to redeem
bonds due 2020
US$200mm hybrid
	Tier 1 bonds

7	Source: Interbank and IFS

Clear strategic vision

1

Become the leading digital bank in Peru with a clear strategic focus on key businesses and profitability

Growth

2	3
Provide the best digital	Build on both AI
experience based on	capabilities and the
operational excellence	best talent as our
as a differentiator	competitive
	advantage

Digital

Analytics

Macro

update