1

Conference call

1Q 2020 Earnings review

Gabriel MouraChief Executive Officer

Claudia LabbéHead of Investor Relations

May 4th, 2020

2

COVID-19 Update

3

Macro

3

Projections

GDP (%)

-1.9

4.6

-3.0

4.6

-5.0

4.4

2017 2018 2019 2020 2021 2022 2023

3.0 2.9

4.5

3.6

6.0

4.5

2017 2018 2019 2020 2021 2022 2023

CPI (%)

Monetary Policy (%)

0.501.00

0.50

0.00 0.00

2017 2018 2019 2020 2021 2022 2023

FX

830800

880860

950920

2017 2018 2019 2020 2021 2022 2023

Base Slow V U

4

Macro

4

Projections

Minimum Medium Maximum

GDP (%) CPI (%)

Monetary Policy (%) FX

5

Channels

5

Branch Network

63% 121 branches open

65 in the Metropolitan Area56 in the rest of country

30%57 branches open

24 in the Metropolitan Area33 in the rest of country

95% 182 branches open

104 in the Metropolitan Area78 in the rest of country

100% presence since the beginning of the crisis

March 1

April 15

May 4

% Network

6

Digital channels

6

Client access

Wide rangeof services and productsto meet the needs of our clients in this period

41% Number of login to web & app(Mar-20 vs. Mar-19)

Availability of our digital channels

99.5%

(Mar-20)

Co

mp

anie

sIn

div

idu

als

57% Number of login to web & app(Mar-20 vs. Mar-19)

Access to digital have increased significantly; despite this trend, availability of digital channels is at highest level ever

7

Clients

7

Digital channels | Client transactions

March 2020

150

February 2020

100

Transfers and Payments

Co

mp

anie

sIn

div

idu

als

March 2020

136

February 2020

100

Time Deposits

March 2020

130

February 2020

100

Increase in Credit Lines$, Credit Card

March 2020

139

February 2020

100

Transfers and Payments

March 2020

158

February 2020

100

Time Deposits

March 2020

187

February 2020

100

Loans

Use of digital channels gets more significant with end-to-end transactions, gaining relevance for Individuals and Companies

8

Clients

8

Digital Communication

1

2

Launch of “Visión de Líderes" Communication

Launch of the “Vision of leaders“- Live streaming with the leaders of the most important sectors of the economy

We have held 15 sessions:- Andrés Velasco- José de Gregorio- André Ferraz- Ricardo Marino- Raphael Bergoeing- Pierre Morgon- Dr. Daniel Apolo- Brian Chase

13,776 Total Views

9

People

9

Home office

1,259

2,3092,459

01-mar 16-mar 31-mar 15-abr 30-abr

VPNsVDIsLaptops

All employees with access to videoconferences

through Teams

Deploying Office 365 cloud solutions

Capacity for 10,000 remote accesses through VPN

0

413

700

01-mar 16-mar 31-mar 15-abr 30-abr1-Mar 15-Mar 23-Apr

+1,200

200

2,070

2,420

01-mar 16-mar 31-mar 15-abr 30-abr

1-Mar 15-Mar 23-Apr 1-Mar 15-Mar 23-Apr

+700 +2,220

Infrastructure capable of supporting our operations in a remote environment ensuring business continuity1,684

Employees in home office

10

Government Actions

10

Latest Initiatives

CMF Ministry of FinanceCentral Bank of Chile

Bank financing facility (FCIC) conditional to banks loan growth

FCIC for 6 months, up to 4-year tenor, initial amount up to 3% of the commercial and consumer

portfolios of banks, at a preferential interest rate

Basel III roll-in process that would start in December 2020 was

postponed for 1 year

The Council of the CMF has postponed the commencement date for the implementation of

Basel III regulations

Working capital lines for companies with net sales up to UF

1 million according to the credit risk policies of each institution,

for a maximum amount of up to 3 months of average sales and 75% guaranteed by the government

11 Initiatives targeting provisions and capital

7 Initiatives for liquidity injection to the economy

COVID-19 credit lines

11

Government Actions

11

COVID-19 Line | First Tender Results

Tramo

1 201 215 135 52 49 49 711

2 100 215 43 46 43 126 588

3 63 215 126 29 77 215 754

4 29 215 29 29 23 77 422

Total 393 861 333 155 192 468 2.476

65%

35%

Unmet Demand Demand Met

Itaú Demand

US$ 547 million

Total Demand

US$ 2.9 billion

Total Demand Met

US$ 1.0 billion

Itaú Demand Met

US$ 189 million

To

tal S

yst

em

D

em

an

d

Demand by bank and by tranche (US$ mn)

2,476

Tranche

235

74

34

117

460

252

252

252

252

1,007

158

148

34

50

390

61

34

34

54

183

57

90

27

50

225

57

252

90

148

547

833

883

494

689

2,899

12

Clients

12

Credit deferral campaign

Deferral of next three installments of non

overdue contracts, with a preferential rate through

a new loan with 60 installments and the first

payment in 6 months

Consumer and Commercial Loans

Credit CardsMortgage Loans

Deferral of next three installments of non

overdue contracts, with a preferential rate

Our clients, with non overdue contracts, can choose zero minimum

payment in April

|

20-25%20-25%48%% Client

acceptance

35%% Client

acceptanceClient acceptance rate

13

Clients

13

We want to be part of the solution

Itaú Corpbanca joins the Emergency Private Fund for Health in Chile with a

contribution to the “Confederación de la

Producción y del Comercio” to collaborate with the country in this fight against COVID-19

Itaú Corpbanca tripled the

value of donations made by

employees, totaling

US$ 810,000

Itaú Corpbanca

supported Chilean

female entrepreneurs

with US$ 41,000 to make

masks for staff working

with vulnerable childrenClients

US$ 570,000

Employees

US$ 60,000

Bank

US$ 180,000

US$ 1.9 million

World Giving Index (%)

28%

35%

37%

0% 20% 40% 60%

14

About the 1st quarter of 2020

15

1Q20

higher volume of credit inChile (+12.2%) and better weighted average spread

offset the increase of the growth in the average portfolio, margin with

clients in Chile

Cost of credit increased in Chile

52.1%

Non-interest expenses in Chile decreased

1.9% mainly driven by corporate credit events and regulatory and internal credit risk models implementation

58.6%Efficiency ratio

improved by 70 b.p.15

About our quarter

Recurring

Net

4.3%

Ch$33.8 billion

Ch$29.5 billion

Consolidated

Chile

1.1%

1.0%

10 b.p.Consolidated

Chile 1.1 p.p.

6.8 %

8.4 %Income

Recurring

Return onTangible

(yoy)

(yoy)

(yoy)

Equity (RoTE)

16

Convergencein 2019

1Q20 Loan growth

1 – Ex Student loans portfolio

Mortgage

Financial SystemItaú Corpbanca

12.2%

12.8%

Total Loans

13.4%16.2%

Convergencein 2019

14.6%

12.3%

1.2x market 4.9%

2.5%

2.0x market

Consumer

Commercial1

17

Financial margin with clients1Q20

Ch$ billlion

Change in financial margin with clients

Annualized average rateFinancial margin with clients

-8.9%

+4.3%

140.8 146.5 144.0

161.3146.9

1Q'19 2Q'19 3Q'19 4Q'19 1Q'20

3.0%2.9% 2.8%

3.3%

3.0% 3.0%

2.8%3.0%

2.6%

2.5% 2.5% 2.5%

2.7% 2.9% 2.9%

2.4%

1.8%

1.6%

1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20

Financial margin with clients Average TPM

161.3 146.9(2.1)

1.9

(1.0) (1.8) (10.5) (1.0)

4Q'19 Loan Portfolio Mix Average Loan Portfolio,Loan Spreads andLiabilities Margin

Lower number ofcalendar days

Comercial spreads onderivatives and FX

transactions with clients

Sale of student loansportfolio

Working Capital andother

1Q'20

18

Financial margin with the market1Q20

Quarterly evolution breakdown

In Ch$ billion

1 – UF (Unidad de Fomento) is an official unit of account in Chile that is constantly adjusted for inflation and widely used in Chile for pricing several loans and contracts.

UF 1 net exposure (Ch$ trillion)

UF – Unidad de Fomento1 (∆ value)

1.9 2.02.2

1.9

2.7

mar-19 jun-19 sep-19 dec-19 mar-20

0.0%

1.2%

0.5%

0.9%1.0%

1Q'19 2Q'19 3Q'19 4Q'19 1Q'20

21.1

49.1

3.3

20.8

7.3

-53.5

7.7

3Q'19 Trading

Institutional

Banking 4Q'19 Trading

Institutional

Banking 1Q'20

19

Non Performing Loans (90+ days - %) and NPL Creation (Ch$ billion)

Commercial (ex-students loans) Mortgage Consumer

Coverage ratio (90-day NPL - %)Cost of creditIn Ch$ billion

Cost of credit and credit quality1Q20

Cost of Credit Risk Cost of Credit Risk / Average Loans

36.6 41.9 40.9

110.1

55.6

1Q'19 2Q'19 3Q'19 4Q'19 1Q'20

0.9% 1.0% 0.9%

2.4%

1.2%

36.6 55.6

3M19 3M20

0.9%1.2% 126% 129% 132%

113% 115%

2.4% 2.4% 2.4% 2.8%2.9%

70%

80%

90%

100%

110%

120%

130%

mar-19 jun-19 sep-19 dec-19 mar-20

NPL90 Coverage Provisions / Loans

1.4% 1.5% 1.4% 1.4%

2.3% 2.3%

dec-18 mar-19 jun-19 sep-19 dec-19 mar-20

0 24

6 30

121

32 3 3

-1

1 9 4

1.7% 1.8% 1.7% 1.6% 1.7% 1.6%

dec-18 mar-19 jun-19 sep-19 dec-19 mar-20

1.7%2.0%

1.7%2.0%

2.2%2.5%

dec-18 mar-19 jun-19 sep-19 dec-19 mar-20

23 29

21 31 35 37

20

como foi nosso ano?1Q20 Non-interest expenses

Efficiency ratioquarterly (%)

In Ch$ billion

Total

(52.2)

(54.8)

(107.0)

(9.9)

1Q20 4Q19

(47.8)

(51.3)

(99.1)

(10.0)

Personnel

Administrative

Total Personnel and Administrative

Depreciation, Amortization and Impairment

(116.9)(109.1)

-8.5%

-6.4%

-7.4%

1.3%

-6.7%

193branches in Chile in 1Q20

5.56 5.60

5.81

Mar-19 Mar-20Mar-18

5.60 thousandemployees

in 1Q20

59.3

53.1 55.0

46.7

58.6

1Q'19 2Q'19 3Q'19 4Q'19 1Q'20

branch closed in Chile YoY

9 ( 4.5%)

21

Capital structure1Q20

CET 1

New LGB(Dec. 2025)

SIFI (est.)

CCB

AT1

Total Capital

Tier II

CET 1

Tier I

4.1%

4.5%

11.5%

1.5%

1.0%

2.5%

8.0%

9.5%

2.0%3.5%

9.6%

-0.7%

Max use of Tier IITier II

Tier I

8.3% -1.8%

-0.2% 6.4%

Regulatory CapitalRatio (March. 20)

Other Intangible Assets /Net Deferred Taxes

Net effectof changes in RWA

Estimated Fully LoadedBIS III Capital

12.2%

Regulatory Capital Ratio (Mar. 2020)

3.9%3.2%

221 – LCR: Liquidity Coverage Ratio calculated according to BIS III rules. Regulatory LCR ratios are still under construction in Chile. 2 – NSFR: Net Stable Funding Ratio, the methodology used to estimate NSFR consist of liquidity ratio proposed by the “Basel III Committee on Banking Supervision” (“BIS III”) that was adopted by the CMF and the Brazilian Central Bank (BACEN) and only the BACEN set a limit for NSFR.

Source: Quarterly liquidity status report as of April 28, 2020.

Liquidity1Q20

LCR1 NSFR2

Total Deposits

10.4 10.6 11.6

12.5 14.1

mar.19 jun.19 sep.19 dec.19 mar.20

125.4%

80.0%

90.0%

100.0%

110.0%

120.0%

130.0%

140.0%

Mar.19 Jun.19 Sep.19 Dec.19 Mar.20 Apr.20

LCR Chile + NY Internal LCR limit

100 %

95.4%

82.0%

84.0%

86.0%

88.0%

90.0%

92.0%

94.0%

96.0%

98.0%

Mar.19 Jun.19 Sep.19 Dec.19 Mar.20 Apr.20

NSFR Chile + NY Internal NSFR limit

90 %

13.2%

+36.2%

85 %

23

3.31 thousandemployees

in 1Q20

Highlights1Q20

-30.7 bn

-4.9%

20.2 tn

27.9 tn

1Q20 4Q19

24.3 bn

3.8%

20.7 tn

30.8 tn

Net Income

RoTE

Loan Portfolio

Total Assets

(443.1)(451.5)

n.a.

+8.7 p.p.

+2.5%

+10.4%

1.9%3.49

3.31

3.56

Mar-19 Mar-20Mar-18

About 1Q 2020

128branches in Colombia in 1Q20

Loan Portfolio and RoTE Evolution

In COP

-31.9-17.0

62.0

24.3

1Q17 1Q18 1Q19 1Q20

In billion COP

Recurrent Net Income Evolution

In billion COPRoTE

Loans

branches closed in Colombia YoY

33 ( 20.5%)

24

About 2020

25

Guidance under review2020

Expected

Loan Growth

Loan Mix 1

Cost of credit Risk 2

Adjusted Non-Interest Expenses 3

Results from Colombia 4

6.0%4.0%

Continued increasing retail in loan mix

1.2%1.0%

Continued recovery in profitability

1 – Retail loans refers to mortgage and consumer loan; 2 – Net provision for credit & counterparty risks; 3 – Net of labor agreement costs; 4 – Managerial Net Income Attributable to Shareholders.

4.5%3.5%

26

Build the bankof the future

Execute ourtransition plan

Prepare the bank for the crisis

XXX

COVID -19

27

Resultados

• This presentation is not an offer for sale of securities. This material has been prepared solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities and should not be treated as giving investment advice. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Any opinions expressed in this material are subject to change without notice and neither Itaú Corpbanca (the “Bank”) nor any other person is under obligation to update or keep current the information contained herein. The information contained herein does not purport to be complete and is subject to qualifications and assumptions, and neither the Bank nor any agent can give any representations as to the accuracy thereof. The Bank and its respective affiliates, agents, directors, partners and employees accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material

• Certain statements in this presentation may be considered forward-looking statements. Forward-looking information is often, but not always, identified by the use of words such as “anticipate,” “believe,” “expect,” “plan,” “intend,” “forecast,” “target,” “project,” “may,” “will,” “should,” “could,” “estimate,” “predict” or similar words suggesting future outcomes or language suggesting an outlook. These forward-looking statements include, but are not limited to, statements regarding expected benefits and synergies from the merger of Banco Itaú Chile with and into Corpbanca, the integration process of both banks, anticipated future financial and operating performance and results, including estimates for growth, as well as risks and benefits of changes in the laws of the countries we operate

• These statements are based on the current expectations of the Bank’s management. There are risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, (1) problems that may arise in successfully integrating the businesses of Banco Itaú Chile and Corpbanca, which may result in the combined company not operating as effectively and efficiently as expected; (2) the combined company may be unable to achieve cost-cutting synergies or it may take longer than expected to achieve those synergies; (3) the credit ratings of the combined company or its subsidiaries may be different from what the Bank or its controlling shareholders expect; (4) the industry may be subject to future regulatory or legislative actions that could adversely affect the Bank; and (5) the Bank may be adversely affected by other economic, business, and/or competitive factors

• Forward-looking statements and information are based on current beliefs as well as assumptions made by and information currently available to the Bank’s management. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking statements will not be achieved

• We caution readers not to place undue reliance on these statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking statements. More information on potential factors that could affect Itaú Corpbanca’s financial results is included from time to time in the “Risk Factors” section of Itaú Corpbanca’s Annual Report on Form 20-F for the fiscal year ended December 31, 2017, filed with the U.S. Securities and Exchange Commission (the “SEC”). Furthermore, any forward-looking statement contained in this presentation speaks only as of the date hereof and Itaú Corpbanca does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this presentation are expressly qualified by this cautionary statement

• This presentation may not be reproduced in any manner whatsoever. Any reproduction of this document in whole or in part is unauthorized. Failure to comply with this directive may result in a violation of the U.S. Securities Act of 1933, as amended, or the applicable laws of other jurisdiction

• The information contained herein should not be relied upon by any person. Furthermore, you should consult with own legal, regulatory, tax, business, investment, financial and accounting advisers to the extent that you deem it necessary, and make your own investment, hedging and trading decision based upon your own judgment and advice from such advisers as you deem necessary and not upon any view expressed in this material

• The Bank is an issuer in Chile of securities registered and regulated by the Financial Market Commission, or “CMF”. Shares of our common stock are traded on the Bolsa de Comercio de Santiago—Bolsa de Valores, or the Santiago Stock Exchange and the Bolsa Electrónica de Chile— Bolsa de Valores, or Electronic Stock Exchange, which we jointly refer to as the “Chilean Stock Exchanges,” under the symbol “ITAUCORP.” The Bank’s American Depositary Shares are traded on the New York Stock Exchange under the symbol “ITCB.” Accordingly, we are currently required to file quarterly and annual reports in Spanish and issue hechos esenciales o relevantes (notices of essential or material events) to the CMF and provide copies of such reports and notices to the Chilean Stock Exchanges and the SEC. All such reports are available at www.cmf.cl, www.sec.gov and ir.itau.cl.

Disclaimers

28

Conference call

1Q 2020 Earnings review

Gabriel MouraChief Executive Officer

Claudia LabbéHead of Investor Relations

May 4th, 2020