• Peru's equivalent of a diversified financial services giant like JPMorgan Chase.
• A Peruvian financial powerhouse offering banking, insurance, and wealth management, similar to a regional version of Bank of America.
• Essentially a major Peruvian 'financial supermarket' for banking, insurance, and wealth management, akin to a regional Citigroup.

Major Products and Services of Intercorp Financial Services (IFS)

• Retail Banking Services: Provides financial products and services to individual consumers, including savings accounts, credit cards, consumer loans, and mortgages.
• Commercial Banking Services: Offers a range of financial solutions for businesses, such as corporate loans, trade finance, and cash management services.
• Life Insurance: Provides financial protection to beneficiaries upon the death of the insured, as well as disability and health-related coverages.
• Annuities: Offers long-term savings and retirement products that provide a guaranteed stream of income.
• Wealth Management: Delivers investment advisory, portfolio management, and financial planning tailored for high-net-worth individuals and institutional clients.
• Asset Management: Manages various investment funds, including mutual funds, for individuals and institutional investors.
• Investment Banking: Provides corporate finance advisory and capital markets services, such as equity and debt placements.

Intercorp Financial Services (IFS) primarily serves **individuals** through its various subsidiaries, including Interbank (banking), Interseguro (insurance), and Inteligo (wealth management). While it also serves corporate and institutional clients, a significant portion of its customer base and operations is focused on the retail segment.

The up to three categories of individual customers it serves are:

• Retail Banking Customers: Individuals who utilize a broad range of banking products and services, including savings accounts, checking accounts, credit cards, personal loans, mortgages, and consumer financing. These customers engage primarily with Interbank.
• Insurance Policyholders: Individuals who purchase various insurance products to protect themselves and their assets. This includes life insurance, health insurance, auto insurance, and home insurance, primarily through Interseguro.
• Wealth Management Clients: High-net-worth individuals and families seeking specialized financial advisory, investment management, private banking, and brokerage services, primarily through Inteligo.

• Munich Reinsurance Company (MURGY)
• Swiss Re Ltd (SSREY)
• SCOR SE (SCRYY)
• Hannover Rück SE (HVRRY)
• Chubb Limited (CB)
• MAPFRE S.A. (MPFRY)
• Berkshire Hathaway Inc. (BRK.B)
• IRB-Brasil Resseguros S.A. (IRBR3)
• Visa Inc. (V)
• Mastercard Incorporated (MA)

Luis Felipe Castellanos López Torres, Chief Executive Officer

Mr. Castellanos has served as Chief Executive Officer of Intercorp Financial Services since April 2013 and as Chief Executive Officer of Interbank since January 2011. He joined Interbank in 2006 as the Chief Executive Officer of Interfondos. Previously, he was Vice President of the Retail Banking Division and Manager of the Mortgage and Real Estate Business division at Interbank. Prior to that, Mr. Castellanos served as a Director in the investment banking division at Citigroup Global Markets in New York. Before joining Citigroup, he was responsible for the treasury department at Minera Yanacocha S.A.

Michela Casassa Ramat, Chief Financial Officer

Mrs. Casassa has served as Chief Financial Officer of Intercorp Financial Services and Interbank since September 2012. She joined Interbank in September 2011 as Head of Strategic Planning. Prior to joining Interbank, she served as Head of Strategy for Corporate and Investment Banking at Banco de Crédito del Perú in Lima and Unicredit in Munich, and Head of Strategy for the International Division of Unicredit in Milan and Istanbul. She has also worked at The Boston Consulting Group in Milan and Citibank in Lima.

Carlos Tori Grande, Chief Executive Officer, Interbank

Mr. Tori has served as Interbank's CEO since March 2024. He also serves as IFS's Executive Vice President of Payments since June 2022 and Interbank's Executive Vice President of Payments Ecosystem since August 2022. At Interbank, he previously held roles such as Vice President of Retail Banking and Channels, Vice President of Retail Banking, and Vice President for Distribution Channels. Mr. Tori joined Interbank in 2009 as Head of the Corporate Finance team. Before joining Interbank, he worked for Citigroup and BankBoston, and served as an Investment Banking Associate at Merrill Lynch's Financial Institutions Group. Mr. Tori has served as a director of Interfondos, Compañía de Servicios Conexos Expressnet and Pagos Digitales Peruanos.

Gonzalo José Basadre Brazzini, Deputy Chief Executive Officer, Intercorp Financial Services and Chief Executive Officer, Interseguro

Mr. Basadre has served as IFS' Deputy Chief Executive Officer since April 2013. He is also the General Manager/Chief Executive Officer of Interseguro since 2012. Previously, he was the Vice President of Investments (Chief Investment Officer) of Interseguro.

Bruno Ferreccio del Río, Chief Executive Officer, Inteligo Bank

Mr. Ferreccio has served as Inteligo Bank's Chief Executive Officer since May 2019. He previously served as Inteligo SAB's Chief Executive Officer from July 2019 until September 2021, and as Deputy Chief Executive Officer of Inteligo SAB since April 2017. Prior to that, he was Chief Commercial Officer since December 2015 and Chief Financial Officer of Inteligo and Financial Vice President of Inteligo SAB since April 2014. Mr. Ferreccio joined Inteligo in June 2010 as Inteligo SAB's Financial Manager and Chief of Products. Before joining Inteligo, he was the Vice President of Futures and Derivatives in Commodities at AAKOP LLC in New York, and Resident Engineer of HV S.A. CONTRATISTAS in Peru.

The rapid growth and increasing adoption of **Fintech companies** in the Latin American market present a clear emerging threat. These digital-native financial service providers, encompassing neobanks, digital payment platforms, and specialized lending and investment applications, are leveraging technology to offer more convenient, often lower-cost, and highly personalized financial products and services. They are directly challenging traditional financial institutions like Intercorp Financial Services by attracting customers seeking purely digital experiences, potentially eroding market share and revenue streams across IFS's core banking, insurance, and wealth management segments.

Intercorp Financial Services (IFS) is a Peruvian financial holding company operating primarily in Peru through its key subsidiaries: Interbank (banking), Interseguro (insurance), and Inteligo (wealth management). The company also provides payment services, including the development, management, operation, and processing of credit and debit cards, as well as facilitating payments through commercial stores and e-commerce infrastructure.

The estimated addressable market sizes for IFS's main products and services in Peru are as follows:

• Banking Services: The Peru banking market is projected to expand from an estimated USD 31.1 billion in 2025 to USD 52.9 billion by 2033, reflecting a compound annual growth rate of 6.9%. This market size refers to the total revenue generated by banks through interest income, non-interest income, and other ancillary sources. The corporate banking market within Peru is estimated at USD 12.0 billion in 2025.
• Insurance Services: The Peru life and non-life insurance market reached USD 6.99 billion in 2025 and is projected to grow to USD 12.55 billion by 2030, with a healthy 12.4% CAGR. In December 2023, Peru's insurance market totaled USD 5.6 billion in premiums.
• Wealth Management Services: null
• Payment Services: null

Intercorp Financial Services (IFS) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market conditions:

1. Growth in Higher-Yielding Loan Portfolio: IFS anticipates continued expansion in its higher-yielding loan segments, particularly within the consumer and small business categories. The company reported a 7% year-over-year growth in higher-yielding loans, with a 3% increase in the last quarter alone, driven by these segments. Robust macroeconomic activity has led to increased disbursements in cash loans and small businesses.
2. Expansion of Wealth Management and Insurance Businesses: The wealth management division, Inteligo, has achieved record highs in assets under management, reflecting strong client trust and engagement. Both the insurance and wealth management segments have shown double-digit growth in their core businesses. Fee income in wealth management also continues to improve, up 16% year-over-year.
3. Digital Transformation and Enhanced Customer Engagement: IFS is strategically focused on digital excellence and strengthening client relationships. The company has demonstrated significant growth in its digital platform users, with its mobile payment system, Plin, reaching 2.4 million active monthly customers as of Q2 2025. This focus enhances customer experience and expands primary banking relationships.
4. Favorable Macroeconomic Conditions in Peru: A resilient Peruvian economy, with cumulative growth of 3.3% as of August, provides a supportive environment for IFS. Optimistic projections for private investment, expected to grow by 6.5% by the end of the year, further contribute to a favorable backdrop for the company's operations and overall loan growth.
5. Increase in Fee Income from Payments and Services: IFS has experienced an 8% increase in fee income year-over-year, primarily due to heightened debit and credit card activity. There has also been strong growth in fee income from cash management services in commercial banking. This indicates a growing contribution from non-interest income streams.

Share Repurchases

• Intercorp Financial Services (IFS) approved a Share Repurchase Program of up to US$100 million on March 31, 2023.
• A new Share Repurchase Program was approved on March 31, 2025, slated to commence after the previous program's completion or termination.
• As of June 30, 2025, the company and its subsidiaries held 3,886,000 shares in treasury, an increase from 2,159,000 shares as of December 31, 2024.

Share Issuance

• The number of shares outstanding for Intercorp Financial Services was 114,287,000 as of November 2025, compared to 114,480,000 at the end of 2024.
• In 2020, shares outstanding increased by 4.29%, while in 2021, there was a slight decrease of 0.02%.

Outbound Investments

• In April 2022, IFS acquired the remaining 50% of Izipay, thereby obtaining control and integrating Izipay's financial information into IFS's consolidated statements.

Capital Expenditures

• Capital expenditures for IFS were approximately PEN 104.72 million in fiscal year 2024, PEN 147.65 million in 2023, and PEN 135.04 million in 2022.
• For the trailing twelve months ending June 30, 2025, capital expenditures amounted to PEN 177.02 million.
• The company's strategy includes developing a resilient, secure, and scalable technology platform and becoming an AI-driven organization, implying a focus for capital expenditures.