#1Interbank... Investor Presentation April 2018 N° de tarjeta DNI N° de documento i ¿La olvidaste? Clave web +8 Ingresar O Intercorp Financial Services#2Disclaimer The information contained herein is being provided by Intercorp Financial Services Inc. ("IFS" or the "Company") solely for informational purposes. This material is only a summary and does not contain all material information concerning the Company. Recipients of this presentation are not to construe the contents of this presentation as legal, tax or investment advice and should consult their own advisors in this regard. This presentation does not constitute an offer of, or an invitation to purchase, any of the Company's common shares in any jurisdiction in which such offer or invitation would be unlawful. All of the information contained herein and any related information is proprietary to the Company and recipients may not, directly or indirectly, disclose or permit its agents, representatives, or affiliates to disclose, such information for any purpose whatsoever. This presentation may not be photocopied, reproduced or distributed to others in whole or in part without the Company's prior written consent. This presentation contains certain statements and estimates provided by the Company with respect to the anticipated future performance of the Company. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events, and actual results of operations may differ materially from historical results or current expectations in such forward-looking statements. Recipients are cautioned that any such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors, including those relating to the consolidated operations and business of the Company. These and various other factors may adversely affect the estimates and assumptions on which these forward-looking statements are based, many of which are beyond our control. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events. Neither the Company nor its advisors, officers, employees, directors or agents, make any representation nor shall assume any responsibility in the event actual performance of the Company differs from what is provided herein. Moreover, the Company, its advisors, officers, employees, directors or agents shall not have any obligation whatsoever to update, correct, amend or adjust this presentation based on information attained or events occurred after its disclosure. The Company prepares the financial information included in the presentation in accordance with International Financial Reporting Standards (IFRS). We have included in this presentation certain information reported by the Peruvian Superintendency of Banks, Insurance and Private Pension Fund Administrators (Superintendencia de Banca, Seguros y AFPs, or "SBS") and the Peruvian Securities Commission (Superintendencia del Mercado de Valores, or "SMV") for the Peruvian banking and insurance sector as a whole as well as for individual financial institutions in Peru, including Interbank and Interseguro, our subsidiaries, which report to the SBS and the SMV in accordance with accounting principles prescribed by the SBS ("Peruvian SBS GAAP" or "Local GAAP"). All financial information in this presentation regarding our relative market position and financial performance vis-a-vis the financial services and insurance sectors in Peru are based, out of necessity, on information obtained from SBS and SMV statistics. Information in this presentation regarding our relative market position and financial performance, however, do not include information relating to Inteligo, our subsidiary, as Inteligo is not regulated by and does not report to the SBS or the SMV. In addition, for certain financial information related to our compound annual growth rate we have included such information pursuant to Peruvian SBS GAAP in order to be able to show our growth over a longer period than three years. IFRS differs in certain respects from Peruvian SBS GAAP. Consequently, information presented in this presentation in accordance with Peruvian SBS GAAP or based on information from the SBS or SMV may not be comparable with our financial information prepared in accordance with IFRS. Intercorp Financial Services 1#3plaza grau la merced butifarras del carbone puente rayito de sol san agustín la casa del oidor arroz con leche co chino hotel maury santo domingo puente Chilea plaza dos de mayo , oniales jiron sar mazamorra morada casa aliaga estación de desamparados aza francia Soup.colc el criollis santa rosa y san martin el río hablador la catedral alamada de los descalzos real plaza intenta anindia IFS at a glance capón ntro cívico parque de la exposición turrón de doña pepa dulces de convento plaza bolognesi teatro municipal sobran las razones para estar orgullosos del Centro de Lima mercado central patios coloniales hotel bolívar ferias de libro viejo plaza de armas quinta neeren el pozo de los deseos bodegas antiguas estadio nacional sanguito pisco sour anticucheras taulichusco chabuca granda parque de la muralla parque universitario san cristóbal mali torre tagle virgen del Interbank Explora carmen casona de san marcos Suspiro de mi Sueldo Interbank Explora Explera Exple Explora ala Intercorp Financial Services#4IFS is a leading provider of financial services in Peru with a solid balance sheet and a diversified source of dividend flows IFS overview 99.3% Interbank Universal bank with strategic focus on retail Intercorp Financial Services Market cap. US$4.6bn (1) Contribution by segment (7) - IFRS (2017) Total assets (8) 5% Net Income (9) 17% Dividends (8) 23% 20% 9% 75% 83% O 68% Banking Insurance Wealth management 100.0% 99.4% Seguros Interseguro+ sura Insurance company with focus on life & annuities 100.0% INTELIGO Leading provider of wealth management services As of December 2017 Intercorp Financial Services S/ mm | US$ mm Total Assets 60.678 | 18,722 #1 Private bank in payroll deductible loans #2 Retirement annuities 6.3% '14-'17 AuM + deposits CAGR (5) Gross Loans 29,189 | 9,006 #2 Credit card and consumer financing #2 Life insurance company by Total assets 11.9% '14-'17 net profit CAGR (5) Total Deposits 32,608 | 10,061 #2 Gross loans growth: #3 8.6% '14-'17 CAGR (3) Life insurance company by premiums 26.0% '14-'17 average ROE (5) Total Equity 5,837 | 1,801 Net Profit 838 | 259 #2 Branches and ATMs (2) #4 2017 ROE (4) US$4,473 mm in AUM + deposits (6) ROE 15.7% / 19.5% (10) #2 2017 ROE (3) #4 Bank by total assets 脚 Efficiency Ratio 39.8% Capital Ratio (11) 16.1% Dividends (12) 476 | 146 Source: SBS and Company information as of December 2017. (1) As of April 12th, 2018. (2) Considers 273 branches and 2,052 ATMs as of December 2017. (3) Ranking among four largest Peruvian banks. (4) Ranking among ten largest Peruvian insurance companies. (5) Figures for Inteligo Bank. (6) As of December 2017. (7) Contribution before eliminations of intercompany transactions and holding company expenses. (8) Based on assets for 2017 and dividends declared for 2016. (9) Net Income in IFRS, excluding discount rate impact on technical reserves (S/207 mm decrease). (10) Excluding discount rate impact on technical reserves. For the year ended in December 2017, higher requirements of technical reserves represented S/ 207 mm. (11) For Interbank only. (12) Dividends declared for year 2016. Intercorp Financial Services 3#5IFS has consolidated its leading position in the Peruvian financial system Interbank Intercorp Peru (formerly IFH) acquires Banco Internacional del Peru (Interbank) from the Peruvian government Intercorp Financial Services Creation of IFS as the controlling shareholder of Interbank and Interseguro Interbank Interbank issues $200 million in hybrid Tier 1 bonds in the international capital markets Interbank issues $400 million in senior bonds in the international capital markets S&P and Fitch rated IBK Investment Grade, following Moody's upgrade in 2009 Interbank Interbank raises a $200 million syndicated senior credit facility in the international markets Intercorp Financial Services IFS acquires Sura's insurance and mortgage businesses in Interbank Interbank issues $300 million in subordinated Tier 2 bonds in the international capital markets Peru 2018 2017 2014 2013 2012 2010 2007 2006 1994 1998 INTELIGO Interseguro Interseguro is incorporated in Peru Intercorp Financial Services IFS conducts its initial public offering ($310 million in common shares) Interbank Interbank executes a $250 million reopening of its senior bonds due 2020 IFS acquires 100% of Inteligo Interbank Interbank issues $200 million in senior bonds in the international capital markets, concurrently with an exchange offer for its senior bonds due 2020 Intercorp Financial Services IFS issues $300 million in senior bonds in the international capital markets Intercorp Financial Services 4#6IFS is part of Intercorp, one of Peru's leading business groups Intercorp Peru is the holding company for one of Peru's largest economic groups, whose businesses are mainly focused on: financial services, retail (including shopping malls), and education Over US$4.2bn in annual revenues Two listed companies with a combined market capitalization of more than US$6bn More than 60,000 employees Over US$2bn raised in debt capital markets Intercorp Financial Services Interbank Intercorp Retail InkaFarma Supermercados Peruanos SA Fa Botica Perfumeria Real plaza INTELIGO Interseguro #2 Consumer lending Leading private bank #1 Retirement annuities #1 Supermarket chain #1 Pharmacy chain #1 Shopping malls Coechsle PROMART Financiera öh! Department stores & home improvement Education GRUPO P Innova Schools IPAE escuela de empresarios K-12 education and higher education Real Estate Tourism CASA ANDINA URBI INNOVACION URBANA MILENIA S... Real estate #1 Hotel chain Note: Information as of December 2017. Entertainment Restaurants Industrial cineplanet intralot dePeru BEMBOS Popeyes PAPA DON BELISARIO china WOK DUNKIN' DONUTS SM #1 Movie theaters and entertainment Leading restaurant chains Packaging Intercorp Financial Services 5#7Key Investment Highlights Intercorp Financial Services#8IFS: Key investment highlights 1 Solid macro and Top performing economy in Latin America industry fundamentals ☐ Growing middle class with potential for wealth creation ■ Profitable financial system with low penetration and room for growth 2 Unique platform to benefit from growth potential 3 Consistently delivering high ☐ 4 growth & profitability Clear strategy and strong corporate governance Leading retail banking platform Industry leader in annuities Growing wealth management business Track record of sustainable growth Demonstrated ability to deliver superior results ■ Consistently outperforming the system ■ Steadily serving Peru's middle class and local corporates and SMEs ☐ Building analytical and digital capabilities for customer knowledge and superior experience ■ Experienced management team and strong corporate governance Unique combination of growth, profitability and asset quality ■ Intercorp Financial Services 7#9IFS: Key investment highlights 1 Solid macro and industry fundamentals 2 Unique platform to benefit from growth potential 3 Consistently delivering high 4 growth & profitability Clear strategy and strong corporate governance ■ Top performing economy in Latin America Growing middle class with potential for wealth creation Profitable financial system with low penetration and room for growth Leading retail banking platform Industry leader in annuities Growing wealth management business Track record of sustainable growth Demonstrated ability to deliver superior results Consistently outperforming the system ■Steadily serving Peru's middle class and local corporates and SMEs Building analytical and digital capabilities for customer knowledge and superior experience Experienced management team and strong corporate governance Unique combination of growth, profitability and asset quality Intercorp Financial Services 8#10Peru is the top performing economy in Latin America Peru has outperformed its LatAm peers since 2010 Real GDP growth (X-axis) and average inflation (Y-axis) for the 2010-2017 period 8.0% Peru is poised to grow over the next years GDP & domestic demand growth (%) 6.0% 4.0% 2.4% 2.2% ■GDP Domestic demand 4.2% 4.0% 4.0% 3.3% 2.9% 1.1% 2.5% 1.6% 2.0% 1.0% 2.0% 3.0% 4.0% 5.0% 2014 2015 2016 2017 2018F Stable currency (Indexed to 1.0) (1) Colombia 2.5 2.0 1.5 1.0 Attractive country risk profile EMBIG spread (bps) (2) - Chile Mexico Brazil Peru 245 235 174 147 125 0.5 2011 2012 2013 2014 2015 2016 2017 2018 Chile Peru Colombia Brazil Mexico Moody's Aa3 A3 Baa2 Ba2 A3 Source: BCRP, Bloomberg and EIU. For Peru's growth estimates, Inflation Report published by the Peruvian Central Bank, as of March 2018. (1) As of April 12th, 2018. (2) As of April 10th, 2018. Intercorp Financial Services 9#11Peru has an emerging middle class with potential for wealth creation Peru has a young population with an emerging middle class 2016 Peruvian population by age groups (% of population) 65+ 6.7% 45-65 Emerging middle class (1) (% of households) Socioeconomic Segments 2004 A 1% 2016 3% 17.6% B 4% 15% Over 56% 28% 48% 30-45 between 21.4% 20 and 65 years old C 24% 33% 20-30 17.6% D 44% 29% 0-20 36.7% E 27% 20% Peruvian economy reaching the tipping point that transformed Chile in the early 2000's Profile of Chilean financial system in 2004(2) == GDP per capita: US$6,211 Per capita: Retail loans: US$1,380 - Cards per capita: 0.2 - Premiums (3): US$252 Pension AuM: US$3,789 Profile of Chilean financial system in 2016 GDP per capita: US$13,793 Per capita: Retail loans: US$5,107 ― Cards per capita: 0.7 ― Premiums (3): US$681 - Pension AuM: US$10,410 Profile of Peruvian financial system in 2016 GDP per capita: US$6,049 Per capita: Retail loans: US$755 Cards per capita: 0.3 - Premiums (4): US$106 - Pension AuM: US$1,292 Source: Enaho-INEI, Ipsos Peru, Apoyo Consultoria, World Bank, IMF, Peruvian SBS, Chilean SVS and Company information. Note: Under Peruvian SBS GAAP. (1) Apeim "Distribución de Personas según NSE 2016 - Peru Urbano". (2) Source: World Bank and Chilean SBIF (3) AACH Asociación de Aseguradores de Chile. (4) APESEG Asociación Peruana de Empresas de Seguros. Intercorp Financial Services 10#12Peru has a profitable financial system with low penetration and room for additional growth Stable gross loans growth and high asset quality (S/bn) 2.5% 2.5% 2.8% 3.0% '14-'17 CAGR Sustained profitability (S/mm) 19.8% 22.3% 20.0% 18.4% CAGR: 8.4% 227 235 246 193 CAGR: 11.9% 7,040 7,226 7,459 5,326 150 155 160 8.0% 127 85 8.8% 66 76 80 2014 2015 2016 2017 Retail Commercial PDL Ratio Solid total capital evolution (%) 2014 2015 Net Income Room for growth in financial services Retail loans (1)/GDP (2016) Chile 15.0% 15.2% 14.1% 14.2% Brazil 2014 2015 2016 2017 Source: SBS as of December 2017, EIU, INEI, Peruvian Central Bank, local financial regulators and 2016 Swiss Re Sigma Report. Note: Under Peruvian SBS GAAP. (1) Includes consumer and mortgage loans. Colombia 17% 2016 2017 ROE Insurance Premiums/GDP (2016) 37% Chile 5% 30% Brazil 4% Colombia 3% Peru 12% Mexico 2% Mexico 8% Peru 2% Intercorp Financial Services 11#13IFS: Key investment highlights 1 Solid macro and industry Top performing economy in Latin America 2 fundamentals Unique platform to benefit from growth potential 3 Consistently delivering high 4 growth & profitability Clear strategy and strong corporate governance Growing middle class with potential for wealth creation Profitable financial system with low penetration and room for growth ■ Leading retail banking platform Industry leader in annuities Growing wealth management business Track record of sustainable growth Demonstrated ability to deliver superior results Consistently outperforming the system ■Steadily serving Peru's middle class and local corporates and SMEs Building analytical and digital capabilities for customer knowledge and superior experience Experienced management team and strong corporate governance Unique combination of growth, profitability and asset quality ■ Intercorp Financial Services 12#14Banking Para mi-Interbank C New Tab BANCO INTERNACIONAL DEL PERU-INTERBANK (PE) https://interbank.pe Interbank Consulta Cta. Cte Dólare 100-7000030436 Mis consultas Saldo disponible $96,750.63 Detalle Mis operaciones Transfiere Transferencias frecuentes (Selecciona] Vertodos Iniciar transferencia Transferir a Cta Cte. Soles 100-7000020350 Actra cuenta Interbank Saldo disponible S/.517,983.93 Detalle Cuenta o tarjeta de cargo Cta Cte. Dólares 100-7000030436 Saldo disponible $96,750.63 Cta Cte Soles 100-7000030429 Moneda Monto Saldo disponible Soles S/.399,990.00 Detalle Puntos Interbank 200 20 Iniciar transferencia > Ver todos mis productos Paso de 3 F N O €% %: & 45 5 бл 7& 8. 9 R T Y U F G 10 4 0 => I Contáctanos Cerrar sesión Edgardo Leon 25 Feb 2016 Compra S/. 3.120 Venta: S/. 3.335 Productos para ti Paga o Recarga Mis pagos frecuentes (Selecciona] Ver todos Iniciar pago o recarga Selecciona la operación que deseas realizar Pago de recibo O Pago a institución o empresa Pago de tarjeta de crédito O Pago de préstamo Donación Recarga de celular Selecciona la cuenta de cargo Cta. Cte. Dólares 100-7000030436 Saldo disponible: $96,750 63 Iniciar pago o recarga > Paso de 스 51.8 39.3 ◉Intercorp Financial Services#15Interbank has delivered sustained growth with a strategic focus on Retail Diversified growth across different loan segments Interbank's gross loans (S/bn) Leading position in credit cards and consumer loans Market share (as of December 2017) Consumer credit cards Others 12.7% CAGR: 8.6% '14-'17 27.9 CAGR 26.2 25.1 21.8 5.8 11.5% 5.0 4.8 4.2 33 3.7 27 4.4 4.6 4.0 4.3 54 12 5.0 10.6% BBVA 10.0% 4.2 7.2% 3.4 10.5 11.9 12.3 12.9 7.1% Scotiabank 13.4% 2014 2015 2016 2017 ■Commercial Credit Cards Other Consumer Mortgages Strategic focus on retail and consumer financing... Interbank's gross loans breakdown Commercial 46% Retail 54% Source: SBS and Company information as of December 2017. Note: Under Peruvian SBS GAAP. Falabella 18.2% Consumer financing BCP 23.4% Others 19.6% BCP 24.1% Falabella 8.0% BBVA Interbank 22.3% 11.0% Interbank 20.8% Scotiabank 16.5% when compared to the system System's gross loans breakdown Commercial Mortgages Credit 39% 65% cards 28% Other consumer 33% Credit cards 22% Retail 35% Mortgages 48% Other consumer 30% Intercorp Financial Services 14#16Interbank has solid risk management capabilities Good asset quality despite focus on retail business PDL Ratio Cost of risk reflects loan mix, resulting in high coverage ratio Coverage ratio and cost of risk evolution Interbank coverage ratio (1) 3.0% 167.9% 193.9% 179.8% 167.2% 2.8% 2.5% 2.5% 2.9% System: 152.6% 2.6% 2.5% 2.3% 3.1% 2014 2.7% 3.0% 2.2% 2.3% 2.1% 2.1% 2.0% 2015 Interbank 2016 System 2017 2014 2015 Interbank cost of risk (2) 2016 System cost of risk 2017 (2) Balanced asset quality among businesses Commercial loans PDL ratio BBVA SME and Microfinance loans PDL ratio Consumer loans PDL ratio (3) Credit cards PDL ratio 3.1% Scotiabank 8.8% BCP 3.0% Interbank Scotiabank 3.0% BCP 8.0% Scotiabank 2.7% BCP 2.8% BBVA 5.6% BCP 4.8% 7.8% Interbank 2.3% Scotiabank 4.7% Interbank 1.8% Interbank 4.1% BBVA 2.2% BBVA 2.0% System: 2.9% System: 7.4% System: 2.6% System: 5.1% Source: SBS as of December 2017. Note: Under Peruvian SBS GAAP. (1) Allowance for loan losses as a percentage of past-due loans. (2) Cost of risk is calculated as provision expense divided by average loans. (3) Consumer loans excluding credit card loans. Intercorp Financial Services 15#17Interbank has a diversified funding base coupled with a growing deposit base Growing funding base with high component of deposits Interbank's funding mix (S/bn) 39.5 36.7 37.1 12% 28.5 13% 12% 11% 17% 15% 15% 11% 77% 70% 73% 74% 2014 2015 2016 2017 Well balanced deposits breakdown Deposits and Obligations Bonds, Notes and Other Obligations Due to banks and correspondents Interbank has a growing deposit-gathering franchise with suitable liquidity Deposits '14-'17 CAGR Source: SBS. Interbank's deposits breakdown as of December 2017 Institutional 22% Commercial 37% Deposits market share evolution Retail 41% Deposits Market Share Retail Deposits Market Share 13.4% 13.1% 12.6% 10.0% 11.6% 12.1% 7.6% 7.1% Banking System: 8.8% Interbank Scotiabank BCP BBVA 2014 2017 2014 2017 Note: Under Peruvian SBS GAAP. Intercorp Financial Services 16#18Interbank has a healthy and balanced currency mix Gross Loans by segment & percentage in S/ Currency mix 2017 Interbank's Gross Loans Interbank's Total Assets 88.7% 84.7% 91.5% 91.8% USD 26.5% 73.5% 71.2% 73.0% 63.4% 51.7% 52.1% 52.3% 40.5% S/ 73.5% USD 41.6% S/ 58.4% 2014 2015 Total Loans % in S/ 2016 Retail % in S/ 2017 Commercial % in S/ System's loans % in S/: 67.1% System's total assets % in S/: 59.6% Deposits by segment & percentage in S/ 59.4% 56.6% 58.7% 58.1% USD 41.3% 57.9% 55.9% 54.1% 54.4% 54.1% 52.1% Interbank's Deposits Interbank's Liabilities + Equity USD 40.2% 48.2% S/ 58.7% S/ 59.8% 43.9% 2014 2015 2016 2017 System's deposits % in S/: 57.1% System's liab. + equity % in S/: 60.8% Total Deposits % in S/ Retail % in S/ Commercial % in S/ Source: SBS and Asbanc as of December 2017. Intercorp Financial Services 17#19Interbank has a convenient distribution network and a clear focus on digital banking Jawn t S Bodega Interbank agente RECIBE TUS REMESAS EN AGENTES INTERBANK 57 bra amigo es en la or un ca o en el Registrate aqui Source: SBS and Company information as of December 2017. (1) Correspondent Agents for BBVA and Scotiabank excludes third party agents (Globokas and Kasnet). (2) Digital customers: % of retail clients that access through internet and mobile banking. (3) Off-branch transactions: % of total transactions performed outside branches. 2,505 2,052 273 424 2,364 6,199 1,963 2,037 320 2,334 967 212 Interbank BCP BBVA Scotiabank ■Financial Stores ATMs Correspondent Agents (1) 90% 86% 80% 77% 40% 30% 21% 18% 2014 2015 2016 2017 I Digital Customers (2) Off-branch transactions (3) Intercorp Financial Services 18#20Interbank has solid capitalization levels Interbank's capitalization levels are above Peru's banking system Banking System Total BIS Ratio 14.1% 14.2% 15.0% 15.2% 16.1% 15.9% 15.5% 15.2% +1.8% additional +1.6% capital requirement additional 5.6% 2014 5.6% capital requirement 2015 4.9% 5.2% 9.6% 9.9% 11.3% 10.7% 10.1% 9.4% 8.6% 8.5% 2014 2015 2016 2017 CET1 Tier I Tier II Source: SBS and Company information as of December 2017. Note: Under Peruvian SBS GAAP. +1.9% additional capital requirement for 2016 and 2017 10.0% total regulatory minimum Intercorp Financial Services 19#21Interbank has a solid and profitable profile among its peers (2016) Interbank >BCP> Banco + Banco Banco de Chile Santander DAVIVIENDA Bancolombia Santander † Galicia Country of Operation 0 0 NIM (1) 6.3% 7.6% 5.8% 4.7% 4.5% 3.6% 3.0% 3.0% 23.2% 23.5% 16.9% 18.6% 15.0% 31.6% ROE (2) 13.8% 14.4% ROAA (3) 3.1% 2.1% 2.4% 2.3% 2.1% 1.3% 1.1% 1.3% 62% 52% 55% 41% 41% 41% 37% Efficiency (%) (4 25% PDL Ratio (%) (5) 3.0% 3.4% 2.8% 1.7% 2.1% 2.9% 1.1% 1.6% 168% 161% 145% 189% 141% Coverage Ratio (%) (6) 116% 105% 131% 15.9% 14.6% 16.5% 15.7% 15.0% 13.4% 13.4% 14.2% Total Capital Ratio (%) (7) Annual reports for the year ended December 31, 2016, available at the website of each financial institution or the applicable regulator. Information of each company presented under IFRS. The preparation of financial information under IFRS requires that management make estimates and assumptions. Information under IFRS may not be comparable. (1) Net interest margin calculated as (Interest income-Interest Expense) / Total Earning Assets (2016). (5) PDL ratio calculated as Past-due-loans / Total Loans (2016). (2) ROE calculated as LTM Net Income / Average LTM Equity (2016). (3) ROA calculated as LTM Net Income / Average LTM Total Assets (2016). (4) Efficiency ratio calculated as LTM Operating Expenses / LTM Financial Income (2016). (6) Coverage ratio calculated as Provisions / Past-due-loans (2016). (7) Total Capital ratio calculated as Equity Capital / Total risk- weighted assets (2016). ☐ Intercorp Financial Services 20 20#22Insurance terseguro Intercorp Financial Services#23Update of Sura acquisition and financing Structure Intercorp Financial Services Interbank INTELIGO Interseguro + Seguros sura Universal bank Wealth management Life insurance & retirement annuities Timeline ✓ ✓ Summary of terms Issuer: Format: Ratings: Structure: Amount issued: Maturity: Coupon: Benchmark/level: Spread to UST: Yield: Listing/Law: Joint Bookrunners: Allocation by region Intercorp Financial Services Inc. ("IFS") Rule 144 A/Regulation S BBB-/BBB (S&P/Fitch) Senior Unsecured US$300 million October 19, 2027 4.125% 10-year UST/2.323% T+190bps 4.223% Luxemburg/State of New York BAML, JP Morgan, Interbank Announcement of agreement to acquire 100% of Seguros Sura and Hipotecaria Sura (SPA signed May 31, 2017) SBS approval of acquisition (September 28, 2017) Issuance of Senior Notes due 2027 to finance acquisition (October 19, 2017) LATAM 27% Purchase of Sura Asset Management shares (November 2, 2017) Purchase of Wiese Group shares (November 22, 2017) Merger request presented to SBS (December 12, 2017) SBS approval of merger (March 27, 2018) EMEA 26% APAC 2% ΝΑ 45% Intercorp Financial Services 22 22#24Interseguro is a key player in Peru's life insurance and retirement annuities market Strategic focus on life insurance Premiums breakdown (December 2017) (1) Interseguro + Seguros Sura D&S P&C Other Life 27% 6% 12% Introduction of new products to continue growing Annuity net premiums (S/ mm) (1) Industry Market Share 25% D&S 9% Other Life 26% Annuities 35% Private Annuities Private Annuities 4% 20% Annuities 8% 25% 23% 24% 557 479 9 1 347 361 P&C 363 9 303 25 10 53% 137 96 74 82 81 128 5 101 103 115 102 2014 2015 2016 2017 Disability Private Annuity Suvivorship Regular Retirement Previsional Insurance Strategic asset allocation - Interseguro + Sura Inv. portfolio by type of investment (2) Real Estate (non-land) 5% Equity & Mutual Funds 6% Real Estate Strong capitalization Inv. portfolio by currency (2) Net worth surplus (x) (land) 5% VAC(3) 22% US$ 38% Fixed Income 79% S/ 40% 1.45x 1.46x 1.44x (4) 1.22x 2014 2015 2016 2017 Source: SBS and Company information as of December 2017. Note: Under Peruvian SBS GAAP. By year-end 2014, Interseguro subscribed a two-year contract of disability and survivorship insurance related to the Private Pension System for the period 2015- 2016. Premiums under this contract were totally reinsured. (1) Included Sura's premiums of November and December (2) Under IFRS. (3) Indexed to inflation. (4) Included Interseguro & Sura Intercorp Financial Services 23#25Insurance Segment: High profitability leading to solid core earnings generation Net profit (local GAAP) (S/ mm) Net profit(2) (IFRS) (S/ mm) ROE 48.0% 30.1% 25.6% 16.2% Industry 17.5% 18.7% 15.3% 12.8% ROE 28.1% 67.1% n.m. n.m. 312 163 155 226 135 72 100 86 57 5 98 86 51 (120) (207) In 2014, Interseguro reported S/ 135 mmm extraordinary income from the sale of real estate investments under local GAAP (115) (156) 2014 2015 2016 2017 2014 2015 2016 Net profit bridge from Local GAAP to IFRS (2017 S/mm) 104 Reductions Gains 2017 Recurring net profit Adjustment of technical reserves resulting from changes in discount rate ROIP (Local GAAP) 3.5% 6.9% 6.2% 6.1% (123) (156) 2 (212) (39) (21) (12) 22 6.6% Net profit Adjustment Net result on Net result on Translation. (SBS) IS of valuation of sale 2017 technical RE reserves. Investments of securities foreign currency result and others Net profit (IFRS) IS 2017 Net profit S. Goodwill and Net profit Sura (IFRS) interest and Interseguro + Nov-Dec similar S. Sura (IFRS) 2014 expenses 2017 2015 2016 2017 Source: SMV and Company information as of December 2017. Included S. Sura's results of November and December (1) Annualized ROES for each period. Extraordinary income from the sale of real estate investments explained 3.5% of the 10.1% ROIP reported in 2014 (2) Adjustment to technical reserve results from the use of different discount rates and mortality tables to calculate technical reserves, resulting from accounting differences between Local GAAP and IFRS. Intercorp Financial Services 24#26MO Wealth Management Costo Son casi tuyo Intercorp Financial Services#27Inteligo: A fast growing wealth management business Positive trend on AUM + deposits growth... (US$ mm) 6.6x 7.6x 2.9x -0.9x CAGR: 6.3% 4,429 3,591 3,920 4,318 2014 2015 2016 2017 GDP Growth Multiplier (1) High profitability... Fees/Avg. AUM 1.3% 1.1% 1.0% 0.9% with a diversified client portfolio 10% 16% 26% 48% Fixed Income Alternative Investments Equities ■Deposits .supported by increasing fee and net interest income Revenue breakdown 2008 26% O 45% 29% 33% 2017 26% 41% 2014 2015 2016 2017 Fee Income Other Income Net Interest Income Source: Company information as of December 2017. Note: Data presented for Inteligo Bank. (1) GDP growth multiplier based on AuM+ deposits growth in soles. Intercorp Financial Services 26#28IFS: Key investment highlights 1 Solid macro and Top performing economy in Latin America 2 industry-specific fundamentals Unique platform to benefit from growth potential 3 Consistently delivering high ☐ 4 growth & profitability Clear strategy with strong corporate governance Growing middle class with potential for wealth creation Profitable financial system with low penetration and room for growth Leading retail banking platform Industry leader in annuities Growing wealth management business Track record of sustainable growth Demonstrated ability to deliver superior results ■ Consistently outperforming the system ■ Steadily serving Peru's middle class and local corporates and SMEs Building analytical and digital capabilities for customer knowledge and superior experience Experienced management team and strong corporate governance Unique combination of growth, profitability and asset quality ■ Intercorp Financial Services 27#29IFS: Consistently delivering high growth & profitability Net profit - IFRS (1) (S/mm) Dividends declared (US$ mm) Adj. ROE (2) 23.1% 23.7% 19.8% 19.5% Adjusted Discount rate on technical reserves effect 1,239 949 834 226 57 838 150 1,045 954 892 868 181 147 146 (120) 2013 2014 2015 2016 (207) 2014 2015 2016 2017 ☐ Adjustment of technical reserves resulting from changes in discount rate Source: SBS and Company information as of December 2017. (1) Net profit increased due to releases of technical reserves resulting from increases in discount rate of S/ 57mm and S/ 226mm for 2014 and 2015, respectively, but decreased due to higher technical reserves requirements resulting from a decrease in discount rate of S/ 120mm in 2016 and S/ 207mm in 2017. (2) Adjusted ROE excluding interest rate effect. Intercorp Financial Services 28#30IFS has a stable dividend inflow from its subsidiaries Relevant Net Profit (S/ mm) Interbank Local GAAP Seguros Interseguro + Sura Local GAAP ROE 25.5% 26.6% 23.2% 20.8% 48.0% 30.1% 25.6% 16.2% Industry 19.8% 22.3%. 20.0% 18.4% 17.5% 18.7% 15.3% 12.8% ROE 860 875 902 709 2014 2015 2016 2017 Dividends declared (S/mm) Interbank 45% 45% 319 INTELIGO IFRS 28.1% 20.0% 28.4% 27.3% 207 134 171 188 106 163 100 86 2014 2015 2016 2017 2014 2015 2016 2017 In 2014, Interseguro reported S/ 135 mmm extraordinary income from sale of real estate investments under local GAAP Interseguro + Seguros Sura 45% 100% (1) 52% Pay-out ratio Pay-out ratio 394 380 207 50% 52 43 2014 2015 2016 2014 2015 2016 Note: Total dividends paid of S/587mm, S/ 484mm and S/ 532mm for 2014, 2015 and 2016, respectively. Included S. Sura's results (1) Dividend pay-out ratio impacted by extraordinary income from sale of real estate. INTELIGO (2) 80% 107 2014 80% 80% Pay-out ratio 90 00 2015 137 2016 (2) Amounts in US Dollars converted at average FX exchange rate (2.838 Sol per US$ for 2014, 3.184 Sol per US$ for 2015 and 3.375 Sol per US$ for 2016. Intercorp Financial Services 29#31IFS: Key investment highlights 1 Solid macro and Top performing economy in Latin America 2 industry-specific fundamentals Unique platform to benefit from growth potential 3 Consistently delivering high 4 growth & profitability Clear strategy and strong corporate governance Growing middle class with potential for wealth creation Profitable financial system with low penetration and room for growth Leading retail banking platform Industry leader in annuities Growing wealth management business Track record of sustainable growth Demonstrated ability to deliver superior results Consistently outperforming the system ■ Steadily serving Peru's middle class and local corporates and SMEs ☐ Building analytical and digital capabilities for customer knowledge and superior experience ■ Experienced management team and strong corporate governance Unique combination of growth, profitability and asset quality ■ Intercorp Financial Services 30#32Clear strategic priorities ☐ Intercorp Financial Services • Interseguro Interbank Superior experience INTELIGO Frictionless digital products and services to provide the best customer experience • Customer journey and life-cycle management • Self-service solutions Smart bank ⚫ Deep analytics for customer knowledge and decision making • Customer centricity Advanced models: commercial, risk, collections • Transform from physical world World-class digital capabilities Technological and operational efficiency ⚫ New role of financial stores • New communication and customer service platforms Talent • Foster analytical and digital skills Continue to attract new . skillset • Great Place to Work Solid customer, revenue and earnings growth Intercorp Financial Services 31#33Experienced management team and strong corporate governance Experienced and well-recognized management team Company Name Sound governance practices Intercorp Financial Services International Years in ■IFS: 2 out of 5 Position Experience Sector Board of ■Interbank (5): 7 out of 10 20 Directors with independent ■Interseguro (5): 2 out of 6 members Intercorp Luis Felipe Castellanos Financial Services Interbank Intercorp Financial Services CEO / CEO Deputy CEO Gonzalo Basadre 22 / CEO 222 Interseguro INTELIGO Reynaldo Roisenvit CEO 24 ■Inteligo Bank (5): 2 out of 7 ■Relevant committees Executive - Audit - Integral risk Intercorp Financial Services Michela Casassa Interbank CFO / CFO 23 Strong culture as exhibited by corporate awards GREAT PLACE Interbank TO WORK GREAT PLACE TO WORK Top 20 in Peru (1) for the past 16 years; #7 in LatAm (2) in 2017 and #2 in Peru Top 10 in Peru (3) for the past Interseguro seven years; #11 in LatAm (2) in INTELIGO GREAT PLACE TO SAB WORK 2017 Top 15 in Peru (4) for the past seven years Strong corporate governance standards for - - IFS and subsidiaries Source: Company information. (1) Companies with over 1,000 employees. (2) Companies with over 500 employees. (3) Companies with 251 to 1,000 employees. (4) Companies with 30 to 250 employees. (5) Independent pursuant to local standards. Executive credit Investments Related party credit - Technology committee ■Highly supervised related party exposure, well below regulatory limits Intercorp Financial Services 32#34IFS: Key investment highlights 1 Solid macro and Top performing economy in Latin America industry fundamentals ☐ Growing middle class with potential for significant wealth creation 2 Unique platform to benefit from growth potential ■ 3 Consistently delivering high ☐ 4 growth & profitability Clear strategy and strong corporate governance Profitable financial system with low penetration and room for growth Leading retail banking platform Industry leader in annuities Growing wealth management business Track record of sustainable growth Demonstrated ability to deliver superior results ■ Consistently outperforming the system ■ Steadily serving Peru's middle class and local corporates and SMEs ☐ Building analytical and digital capabilities for customer knowledge and superior experience ■ Experienced management team and strong corporate governance Unique combination of growth, profitability and asset quality ■ Intercorp Financial Services 33#35Appendix Intercorp Financial Services#36Interbank: High profitability leading to solid earnings generation Net profit (local GAAP) (S/mm) Net profit (IFRS) (S/mm) Interbank ROE 25.5% 26.6% 23.2% 20.8% ROE 24.9% 25.4% 21.4% 21.6% Industry ROE 19.8% 22.3%. 20.0% 18.4% 860 875 902 868 905 847 731 709 2014 2015 2016 2017 NIM (IFRS) 9.4% 9.9% 9.9% 9.5% 6.1% 6.0% 5.8% 5.7% 2014 2015 2016 2017 Efficiency (IFRS) 45.9% 41.6% 42.0% 41.5% 2014 2015 2016 2017 2014 2015 2016 2017 NIM on Loans Source: Company information as of December 2017. Intercorp Financial Services 35#37Inteligo: High profitability leading to solid earnings generation Net profit (IFRS) (S/ mm) ROE 28.1% 20.0% 28.4% 27.3% 134 106 2014 2015 Fees/Avg. AUM (1) 188 171 2016 Efficiency(2) 2017 INTELIGO 37.5% 33.4% 1.3% 30.4% 30.0% 1.1% 1.0% 0.9% 2014 2015 2016 2017 Note: IFRS. 2014 2015 2016 2017 (1) Figures for Inteligo Bank. (2) Efficiency ratio is calculated by dividing salaries and employee benefits plus administrative expenses plus depreciation and amortization by net interest and similar income plus net fee income from financial services plus other income. Intercorp Financial Services 36#38Recent bond issuances: IFS and Interbank Summary of terms IFS 4.125% Senior unsecured due 2027 Summary of terms Interbank 3.375% Senior unsecured due 2023 Banco Internacional del Peru S.A.A. ("Interbank") Format: Rule 144 A/Regulation S Ratings: Baa2/BBB+ (Moody's/Fitch) Issuer: Intercorp Financial Services Inc. ("IFS") Issuer: Format: Rule 144 A/Regulation S Ratings: BBB-/BBB (S&P/Fitch) Structure: Senior Unsecured Structure: Amount issued: US$300 million Senior Unsecured Amount issued: US$200 million January 18, 2023 Maturity: October 19, 2027 Maturity: Coupon: 4.125% Coupon: Benchmark/level: 10-year UST/2.323% Spread to UST: T+190bps Yield: Listing/Law: 4.223% Luxemburg/State of New York Joint Bookrunners: BAML, JP Morgan, Interbank 3.375% Benchmark/level: 5-year UST/2.339% Spread to UST: T+105bps Yield: Listing/Law: 3.389% Luxemburg/State of New York Joint Bookrunners: BAML, JP Morgan, Interbank Intercorp Financial Services 37#39Key financial figures -IFS (IFRS) S/mm Balance Sheet Total gross loans Total assets Total deposits As and for the year ended December 31, 2014 2015 2016 2017 2017 vs. 2016 Growth/Avg. 2016 vs. 2015 23,197 26,758 27,907 29,189 4.6% 4.3% 40,376 50,001 51,714 60,679 17.3% 3.4% 23,381 28,488 30,098 32,608 8.3% 5.7% 4,302 4,461 4,998 5,837 16.8% 12.0% Total equity Income Statement Net interest and similar income 2,040 2,421 2,623 2,689 2.5% 8.3% Provision for loan losses, net of recoveries (426) (646) (784) (828) 5.7% 21.3% Total other income 1,244 1,506 1,304 1,473 13.0% -13.4% Net Premiums 676 775 592 624 5.3% -23.6% Adjustment of technical reserves (515) (411) (521) (560) 7.4% 26.9% Net claims and benefits incurred (181) (259) (318) (412) 29.6% 22.9% Total premiums earned less claims and benefits (20) 106 (247) (412) 66.7% n.m. Total other expenses (1,541) (1,770) (1,748) (1,837) 5.1% -1.2% Total net profit 963 1,239 834 838 0.5% -32.7% Key Ratios Net interest margin 5.7% 5.8% 5.6% 5.4% -20 bps -20 bps ROAA 2.5% 2.8% 1.7% 1.6% -10 bps -110 bps ROAE 24.6% 28.7% 17.4% 15.7% -170 bps n.m. ROAE excluding discount rate impact on technical 23.1% 23.7% 19.8% 19.5% -30 bps -390 bps reserves Efficiency ratio (1) 41.6% 36.7% 40.5% 39.8% -70 bps 380 bps Past-due-loan ratio 2.3% 2.2% 2.5% 2.7% 20 bps 30 bps Source: Company information. (1) Efficiency ratio is calculated by dividing (x) salaries and employee benefits plus administrative expenses plus depreciation and amortization by (y) net interest and similar income plus fee income plus other income plus net premiums earned. Intercorp Financial Services 38#40Key financial figures - By segment (IFRS) S/mm Banking Total gross loans As and for the year ended December 31, Growth/Avg. 2014 2015 2016 2017 2017 vs. 2016 2016 vs. 2015 21,791 25,100 26,238 27,876 6.2% 4.5% Total deposits 21,124 25,881 26,899 30,559 13.6% 3.9% Total net profit 731 868 847 905 6.9% -2.5% Net interest margin 6.1% 6.0% 5.8% 5.7% -10 bps -20 bps ROAE 24.9% 25.4% 21.4% 21.6% 20 bps -400 bps (1) Efficiency ratio 45.9% 41.6% 42.0% 41.5% -50 bps 40 bps 2.5% 2.3% 2.6% 2.8% 20 bps 30 bps Past-due-loan ratio Insurance Net Premiums 676 775 592 624 5.3% -23.6% Adjustment of technical reserves (515) (411) (521) (560) 7.4% 27.0% Net claims and benefits incurred (181) (259) (318) (412) 29.6% 22.9% Total premiums earned less claims and benefits (20) 106 (247) (349) 40.9% n.m. Total net profit 155 312 (115) (156) 35.6% n.m. Total net profit ex. discount rate impacts 97 86 5 51 n.m. -94.8% ROAE 28.1% 67.1% n.m. n.m. n.m. n.m. Wealth Management AUM + Deposits 10,724 13,192 14,864 13,994 -5.9% 12.7% Total net profit 134 106 171 188 9.8% 62.0% Fee income from financial services, net ROAE 96 122 117 117 0.1% -4.1% 28.1% 20.0% 28.4% 27.3% -110 bps 840 bps Source: Company information. (1) Efficiency ratio is calculated by dividing (x) salaries and employee benefits plus administrative expenses plus depreciation and amortization by (y) net interest and similar income plus fee income plus other income. Intercorp Financial Services 39#41Interbank's net profit IFRS vs. Local GAAP Net profit - IFRS S/mm Net profit bridge from Local GAAP to IFRS (2017) S/mm 905 868 847 731 2014 2015 2016 2017 902 Net profit - Local GAAP S/ mm. 709 2014 902 860 875 2015 2016 2017 (1) Includes D&A expenses (S/ +4.6 million), tax expenses (S/ +1.1 million) and other expenses (S/ +2.3 million) (45) 46 13 (13) 8 7 Interbank 905 Net profit (SBS) 2017 income Net interest Fee income Provision for Net result on and similar from financial loan losses, services, net Other(1) net of recoveries FX transactions Net profit (IFRS) 2017 and derivatives Gains Reductions Intercorp Financial Services 40#42Insurance Segment's net profit IFRS vs. Local GAAP Net profit - IFRS(1) S/ mm 146 311 Net profit bridge from Local GAAP to IFRS (2017) Interseguro + Seguros sura S/ mm (115) (156) 104 2014 2015 2016 2017 Net profit-Local GAAP S/mm 207 100 86 163 2014 2015 2016 2017 (1) Attributable to shareholders. Reductions Gains (123) (156) (212) 2 (39) (21) (12) 22 Net profit (SBS) IS 2017 reserves Adjustment of Net result on technical valuation of RE Investments of securities Net result on Translation sale foreign currency result and others Net profit (IFRS) IS 2017 Net profit S. Goodwill and Sura (IFRS) Nov-Dec Net profit interest and Interseguro + similar expenses S. Sura (IFRS) 2017 Intercorp Financial Services 41#43Intercorp Financial Services