Enhanced Investments - Financial Portal

ITAÚ UNIBANCO - MATERIAL FACT - SETTLEMENT AGREEMENT WITH THE GOVERNMENT OF THE STATE OF PARANÁ

Published: 2023-04-11 13:45:00 ET

SÃO PAULO, April 11, 2023 /PRNewswire/ -- Itaú Unibanco Holding S.A. informs its stockholders and the market that its controlled company Itaú Unibanco S.A. entered into a settlement agreement yesterday with the Government of the State of Paraná, in the context of a legal claim, which settlement agreement is subject to ratification by the Brazilian Supreme Court, pursuant to which Itaú Unibanco S.A. will receive R$1.7 billion regarding debt owed by the State of Paraná for more than 20 years, which debt is guaranteed by shares issued by Companhia Paranaense de Energia – COPEL ("COPEL").

The amount will be paid in 3 installments during the next 2 years, and upon such payments, Itaú Unibanco S.A. will remove the liens from the shares issued by COPEL and owned by the State of Paraná ("Shares"). Itaú Unibanco will also remove the liens from the Shares that will be necessary in the context of a potential public offering of shares relating to the transformation of COPEL into a corporation without a controlling shareholder ("Offer"). The last installment will be paid in advance in case the Offer takes place during 2023, in which case the total amount set forth in the agreement will have been paid within 12 months counting from its ratification.

RENATO LULIA JACOB Group Head of Investor Relations and Market Intelligence

Contact: (11) 5019-8880 / 8881imprensa@itau-unibanco.com.br

View original content:https://www.prnewswire.com/news-releases/itau-unibanco---material-fact---settlement-agreement-with-the-government-of-the-state-of-parana-301794488.html

SOURCE Itaú Unibanco Holding S.A.

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.