Exhibit 99.1 Itaú Corpbanca Investor Relations Itaú Corpbanca Announces Second Quarter 2019 Management Discussion & Analysis Report Santiago, Chile, July 31, 2019. ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) announced today its Management Discussion & Analysis Report (“MD&A Report”) for the second quarter ended June 30, 2019. The financial information included in the MD&A Report is based in our managerial model that we adjust for non-recurring events and for additional reclassifications of P&L lines in order to provide a better understanding of our performance. For the full MD&A Report, please refer to the following link: https://ir.itau.cl/files/doc_financials/quarterly_reports/2019/q2/Itaú-CorpBanca-2Q19-MD-A.pdf On Thursday, August 1, 2019, at 11:00 A.M. Santiago time (11:00 AM ET), the Company’s management team will host a conference call to discuss the financial results. The call will be hosted by Gabriel Moura, Itaú Corpbanca’s Chief Financial Officer, and Claudia Labbé, Itaú Corpbanca’s Head of Investor Relations. Conference Call Details: Participants should dial into the call 10 minutes before the scheduled time using the following numbers: +1 (877) 790-7811 (US Toll Free Dial In), or +1 (647) 689-5491 (Standard International Dial-In). Conference ID: 6858249# or quote “Itaú Corpbanca” to the operator. A telephonic replay of the conference call will be available Thursday, August 8, 2019, by dialing +1(800) 585-8367 or +1 (416) 621-4642 (Encore Dial In). Access Code: 6858249# Slides and Audio Webcast: There will also be a live, and then archived, webcast of the conference call, available through the Company’s website. Participants in the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. The webcast can be found at: https://event.on24.com/wcc/r/2021467/013A00D85F3FF0DE2117D18F9425C397 About Itaú Corpbanca ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) is the entity resulting from the merger of Banco Itaú Chile with and into Corpbanca on April 1, 2016. The current ownership structure is: 38.14% owned by Itaú Unibanco, 28.57% owned by the Saieh Family and 33.29% owned by minority shareholders. Itaú Unibanco is the sole controlling shareholder of the merged bank. Within this context and without

limiting the above, Itaú Unibanco and CorpGroup have signed a shareholders’ agreement relating to corporate governance, dividend policy (based on performance and capital metrics), transfer of shares, liquidity and other matters. The bank is the fifth largest private bank in Chile and as per its mandate is the banking platform for future expansion in Latin America, specifically in Chile, Colombia and Peru. Itaú Corpbanca is a commercial bank based in Chile with additional operations in Colombia and Panama. In addition, Itaú Corpbanca has a branch in New York and representative offices in Madrid and Lima. Focused on large and medium sized companies and individuals, Itaú Corpbanca offers universal banking products. In 2012, the bank initiated a regionalization process and as of the date hereof has acquired two banks in Colombia –Banco Corpbanca Colombia and Helm Bank– becoming the first Chilean bank with banking subsidiaries abroad. The merger with Banco Itaú Chile and the business combination of our two banks in Colombia, represent the continued success of our regionalization process. As of June 30, 2019, according to the Chilean Superintendency of Banks, Itaú Corpbanca was the fifth largest private bank in Chile in terms of the overall size of its customer loan portfolio, equivalent to 10.2% market share. As of May 31, 2019, according to the Colombian Superintendency of Finance, Itaú Corpbanca Colombia was the seventh largest bank in Colombia in terms of total loans and the eighth largest bank in Colombia in terms of total deposits, as reported under local regulatory and accounting principles. As of the same date, its market share by loans reached 4.6%.
Investor Relations – Itaú Corpbanca +56 (2) 2660-1701 / IR@corpbanca.cl
ir.itau.cl

Management Discussion & Analysis 2Q19 ir.itau.cl

(This page was intentionally left blank)

Table of Contents Management Executive Summary 7 Discussion Income Statement and Balance Sheet Analysis 17 & Analysis Managerial results—Breakdown by country 19 5 Managerial results—Breakdown for Chile 21 Page Managerial results—Breakdown for Colombia 32 Balance Sheet 43 Risk and Capital Management 49 Additional Information 51 Complete Financial Statements Access here

(This page was intentionally left blank) Itaú Corpbanca 4

Management Discussion & Analysis Management Discussion & Analysis

This report is based on Itaú CorpBanca reviewed financial statements for 2Q’19, 1Q’19 and 2Q’18 prepared in accordance with the Compendium of Accounting Standards issued by the Superintendency of Banks and Financial Institutions (Superintendencia de Bancos e Instituciones Financieras, or “SBIF”, currently Financial Market Commission, or “CMF”) pursuant to Chilean Generally Accepted Accounting Principles (Chilean GAAP), which conform with the international standards of accounting and financial reporting issued by the International Accounting Standards Board (IASB) to the extent that there are not specific instructions or regulations to the contrary issued by the CMF. Solely for the convenience of the reader, U.S. dollar amounts (US$) in this report have been translated from Chilean nominal peso (Ch$) at our own exchange rate as of June 30, 2019 of Ch678.42 per U.S. dollar. Industry data contained herein has been obtained from the information provided either by the SBIF or the Colombian Superintendency of Finance (Superintendencia Financiera de Colombia, or SF). Certain figures included in this Quarterly Report as of for the three months ended June 30, 2019 and 2018, for the three months ended March 31, 2019 and as of and for the six-month periods ended June 30, 2019 and 2018 have been rounded for ease of presentation. Percentage figures included in this Quarterly Report have in all cases not been calculated on the basis of such rounded figures but on the basis of such amounts prior to rounding. For this reason, percentage amounts in this Quarterly Report may vary slightly from those obtained by performing the same calculations using the figures in our consolidated financial statements and our managerial information. Certain other amounts that appear in this Quarterly Report may similarly not sum due to rounding. 6

Management Discussion & Analysis Executive Summary Itaú Corpbanca Financial Information The financial information included in this Management Discussion & Analysis Report (“MD&A Report”) is based in our managerial model that we adjust for non-recurring events and for additional reclassifications of P&L lines in order to provide a better understanding of our performance. Please refer to pages 9, 10 and 11 of this report for further details on our Management Model. Financial Highlights We present below selected consolidated managerial financial information and operating information of Itaú Corpbanca for the three months ended June 30, 2019 and 2018, for the three months ended March 31, 2019 and as of and for the six-month periods ended June 30, 2019 and 2018. In Ch$ million (except where indicated), end of period 2Q19 1Q19 2Q18 6M19 6M18 Recurring Net Income 60,394 34,187 64,924 94,581 115,074 Results Operating Revenues 1 291,300 269,631 286,095 560,931 556,565 Managerial Financial Margin 240,964 221,049 238,688 462,013 461,940 Recurring Return on Tangible Avg. assets (RoTAA) 2 3 0.8% 0.5% 0.9% 0.7% 0.8% Recurring Return on Tangible Avg. equity (RoTAE) 2 4 11.9% 6.9% 13.7% 9.4% 12.3% Recurring Return on Avg. assets (RoAA) 2 0.8% 0.5% 0.9% 0.6% 0.8% Recurring Return on Avg. equity (RoAE) 2 5 7.2% 4.1% 8.0% 5.7% 7.1% Risk Index (Loan loss allowances / Total loans) 3.1% 3.1% 3.2% 3.1% 3.2% Non-performing Loans Ratio 90 days overdue (NPL)—Total 2.2% 2.2% 2.3% 2.2% 2.3% Performance Non-performing Loans Ratio 90 days overdue (NPL)—Chile 1.9% 1.9% 2.1% 1.9% 2.1% Non-performing Loans Ratio 90 days overdue (NPL)—Colombia 3.2% 3.1% 2.9% 3.2% 2.9% Coverage Ratio (Loan Losses/NPL 90 days overdue)—Total 141.1% 142.6% 140.2% 141.1% 140.2% Efficiency Ratio (Non-interest expenses / Operating revenues) 54.0% 57.2% 54.9% 55.5% 55.8% Risk-Adjusted Efficiency Ratio (RAER) 67.2% 74.2% 69.2% 70.5% 71.1% Total Assets 31,163,272 29,556,812 29,330,838 Sheet Gross Total Credit Portfolio 22,058,038 21,648,642 21,135,759 Total Deposits 14,584,157 14,307,795 14,037,192 Loan Portfolio / Total Deposits 151.2% 151.3% 150.6% Balance Shareholders Equity 3,377,074 3,338,116 3,270,559 Tangible Equity 4 2,055,310 2,006,585 1,908,750 Headcount 6 8,940 9,042 9,355 Chile 5,510 5,557 5,822 Colombia 3,430 3,485 3,533 Branches 7 351 363 365 Other Chile 194 202 202 Colombia 157 161 163 ATM – Automated Teller Machines 633 635 640 Chile 464 463 466 Colombia 169 172 174 Notes: (1) Operating Revenues = Managerial Financial Margin + Commissions and Fees. (2) Annualized figures when appropriate. (3) Total tangible assets = Total assets excluding goodwill and intangibles from business combination. (4) Tangible Equity = Shareholders equity—goodwill—intangibles from business combination—related deferred tax liabilities; for further details see page 47 of this report. (5) Equity = Shareholders equity. (6) Headcount for Chile includes employees of our New York branch and since 1Q’18 also from our RepOffices in Lima and Madrid; an d headcount for Colombia includes employees of Itaú (Panamá). (7) Branches for Chile include one branch in New York and branches for Colombia include one office in Panama. Itaú Corpbanca 7

Management Discussion & Analysis Executive Summary In Ch$ million (except where indicated), end of period 2Q19 1Q19 2Q18 6M19 6M18 Total Outstanding shares (Thousands) 512,406,760 512,406,760 512,406,760 512,406,760 512,406,760 Book Value per share (Ch$) 6.591 6.515 6.383 6.591 6.383 Diluted Recurring Earnings per share (Ch$) 0.118 0.067 0.127 0.185 0.225 Accounting Diluted Earnings per share (Ch$) 0.103 0.055 0.113 0.158 0.197 Diluted Recurring Earnings per ADR (US$) 0.261 0.147 0.291 0.408 0.497 Accounting Diluted Earnings per ADR (US$) 0.227 0.122 0.260 0.349 0.451 Dividend (Ch$ million) n.a. 51,614 n.a. 51,614 22,979 Highlights Dividend per share (Ch$) n.a. 0.1007 n.a. 0.1007 0.0448 Gross Dividend per ADS (US$) n.a. 0.2226 n.a. 0.2226 0.1110 Market capitalization (Ch$ billion) 2,899.2 3,074.4 3,272.2 2,899.2 3,272.2 Market capitalization (US$ billion) 4.3 4.5 5.0 4.3 5.0 Solvency Ratio—BIS Ratio 8 14.5% 14.3% 14.3% 14.5% 14.3% Shareholders’ equity / Total assets 10.8% 11.3% 11.2% 10.8% 11.2% Shareholders’ equity / Total liabilities 12.3% 12.8% 12.7% 12.3% 12.7% Ch$ exchange rate for US$1.0 678.42 680.44 653.02 678.42 653.02 COP exchange rate for Ch$1.0 0.2113 0.2140 0.2232 0.2113 0.2232 Monetary Policy Interest Rate—Chile 9 2.6% 3.0% 2.5% 2.6% 2.5% Monetary Policy Interest Rate—Colombia 9 4.3% 4.3% 4.3% 4.3% 4.3% Indicators Quarterly UF variation—Chile 10 1.2% -0.0% 0.7% 1.2% 1.3% Quarterly CPI variation—Chile 0.9% 0.6% 0.7% 1.6% 1.4% Quarterly CPI variation—Colombia 1.1% 1.6% 0.9% 2.7% 2.5% Notes: (8) BIS Ratio= Regulatory capital / RWA, according to SBIF current definitions. (9) End of each period. (10) 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 . Itaú Corpbanca 8

Management Discussion & Analysis Executive Summary Net Income and Recurring Net Income Our recurring net income attributable to shareholders totaled Ch60,394 million in the second quarter of 2019 from an accounting net income of Ch$52,605 million for the period, as a result of the elimination of non-recurring events, which are presented in the table below: Non-Recurring Events In Ch$ million 2Q19 1Q19 2Q18 6M19 6M18 Net Income Attributable to Shareholders (Accounting) 52,605 28,252 57,937 80,857 100,697 Non-Recurring Events 7,789 5,935 6,987 13,724 14,377 (a) Restructuring Costs 588 (b) Transaction Costs 2,597 30 1,376 2,627 2,815 (c) Regulatory fines or penalties (d) Amortization of intangibles generated through business combinations 8,484 8,515 8,626 16,999 17,136 Tax Effects (3,292) (2,610) (3,014) (5,902) (6,162) Recurring Net Income Attributable to Shareholders (Managerial) 60,394 34,187 64,924 94,581 115,074 Events that we have considered non-recurring and at the same time not part of our business are the following: Restructuring costs: One-time integration costs. Transactions costs: Costs related to the closing of the merger between Banco Itaú Chile and Corpbanca, such as investment banks, legal advisors, auditors and other related expenses. Regulatory fines or penalties: Any regulatory sanction either paid or reversed, such as the fine imposed by former SBIF (currently CMF) in 2015 that was reversed in 2017 and then again paid in December. 2018. Amortization of Intangibles generated through business combinations: Amortization of intangibles arising from business combination, such as costumer relationships. Itaú Corpbanca 9

Management Discussion & Analysis Executive Summary Managerial Income Statement Our managerial financial model reflects how management measures and analyzes financial performance by disaggregating commercial performance, financial risk management, credit risk and costs control. For our managerial results, we adjust for non-recurring events that affect accounting net income (as detailed on the previous page) and apply managerial criteria to disclose our income statements. Regarding the latter, our managerial criteria affects the breakdown of our income statement but does not impact our net income. Among the managerial adjustments, we highlight the tax effects of the hedge of our investments abroad –originally accounted for as income tax expense on our Net Income and subsequently reclassified as financial margin, the reclassification of foreign exchange hedge positions of US dollars denominated provisions, the reclassification of country -risk provisions; the provisions for assets received in lieu of payment; provisions and write -off of assets received in lieu of payment, and the reclassification of provisions for our credit card loyalty program. Management Discussion & Analysis Executive Summary [Graphic Appears Here] Net Income and Recurring Net Income Our recurring net income attributable to shareholders totaled Ch60,394 million in the second quarter of 2019 from an accounting net income of Ch$52,605 million for the period, as a result of the elimination of non-recurring events, which are presented in the table below: Non-Recurring Events In Ch$ million 2Q19 1Q19 2Q18 6M19 6M18 Net Income Attributable to Shareholders (Accounting) 52,605 28,252 57,937 80,857 100,697 Non-Recurring Events 7,789 5,935 6,987 13,724 14,377 (a) Restructuring Costs 588 (b) Transaction Costs 2,597 30 1,376 2,627 2,815 (c) Regulatory fines or penalties (d) Amortization of intangibles generated through business combinations 8,484 8,515 8,626 16,999 17,136 Tax Effects (3,292) (2,610) (3,014) (5,902) (6,162) Recurring Net Income Attributable to Shareholders (Managerial) 60,394 34,187 64,924 94,581 115,074 Events that we have considered non-recurring and at the same time not part of our business are the following: Restructuring costs: One-time integration costs. Transactions costs: Costs related to the closing of the merger between Banco Itaú Chile and Corpbanca, such as investment banks, legal advisors, auditors and other related expenses. Regulatory fines or penalties: Any regulatory sanction either paid or reversed, such as the fine imposed by former SBIF (currently CMF) in 2015 that was reversed in 2017 and then again paid in December. 2018. Amortization of Intangibles generated through business combinations: Amortization of intangibles arising from business combination, such as costumer relationships. Itaú Corpbanca 9 For tax purposes, the Chilean Internal Revenue Service (“Servicio de Impuestos Internos” or SII) considers that our investment in Colombia is denominated in U.S. dollars, which based on the exchange rates of each of disbursements (not current exchange rates) amounts to US$1,437.51 million. As we have to translate the valuation of this investment from U.S. dollar to Chilean peso in our books each month, the volatility of the exchange rate generates an impact in the net income attributable to shareholders. In order to limit that effect, management has decided to hedge this exposure with derivatives to be analyzed along with income tax expenses. Additionally , since January 2018 management has decided to hedge its exposure to translation of the valuation of its investment in its New York branch (US$140.05 million) with derivatives, also to be analyzed along with income tax expenses. These reclassifications enable us to carry out a business analysis from the management’s perspective. Beginning with the first quarter of 2019 we have been disclosing our income statement in the same manner as we do internally, incorporating additional P&L reclassifi- cations . One important change to highlight would be the Managerial Financial Margin disclosure as it is shown in the table o n page 11 (Accounting and Managerial Statements Reconciliation) of this report together with our previous P&L reclassifications. With regards to the hedging of investments abroad, our strategy for foreign exchange risk management is aimed at mitigating e ffects of foreign exchange variations through financial instruments and includes the impact of all tax effects. As the consolidated financial statements for Itaú Corpbanca use the Chilean peso as functional currency, foreign currencies a re translated to Chilean peso. For our investment in Colombia we have decided to hedge this translation risk effect in our income statement. In the second quarter of 2019, the Chilean peso depreciated 1.3% against the Colombian peso compared to an appreciation of 0 .1% in the previous quarter. Approximately 25% of our loan portfolio is denominated in Colombian peso. We present below the foreign exchange vari ation of the Chilean peso against the U.S. dollar and the Colombian peso: Main foreign exchange variations of the Chilean peso U.S. dollar -0.3% +3.9% Ch$ 678.42 (2Q19/1Q19) (2Q19/2Q18) Colombian peso -1.3% -5.3% Ch$ 0.2113 (2Q19/1Q19) (2Q19/2Q18) 10

Management Discussion & Analysis Executive Summary Managerial Income Statement We present below a detailed reconciliation from our accounting income statements to our managerial income statements before a dding/deducting non recurring events as previously described. Despite this example has been prepared with 2Q19 figures, it can be used to rep licate any period: in Ch$ million 2Q’19 1 Interest Income 471,501 1 Interest Expense (245,518) Net Interest Income 225,983 2 Fees and commission income 62,899 4 Fees and commission expense (19,495) Net fee and commission income 43,404 1 Total financial transactions, net 18,243 1 Other operating income 14,476 Total operating income 302,106 3 Provision for Loan Losses (71,440) 3 Recoveries from loans written-off as losses 16,220 Net operating income 246,886 4 Personnel expenses (74,784) 4 Administrative expenses (59,908) 4 Depreciation and amortization (30,873) 4 Impairments (1) 4 Other operating expenses (16,760) Total operating expenses (182,326) Operating Income 64,560 1 Income from investments in other companies 1,234 Income before taxes 65,794 5 Income tax expense (9,721) Net Income 56,073 6 Minority interests (3,468) Net Income attributable to Shareholders 52,605 in Ch$ million 2Q’19 Operating Revenues 322.835 1 Managerial Financial Margin 259,936 Financial Margin with Clients 217,893 Financial Margin with the Market 42,043 2 Commissions and Fees 62,899 3 Cost of Credit (55,220) Provision for Loan Losses (71,440) Recoveries from Loans written-off as losses 16,220 4 Non-interest Expenses (201,821) Personnel Expenses (74,784) Administrative Expenses (96,164) Depreciation, Amortization and Impairment (30,873) Income before Tax and Minority Interests 65,794 5 Income tax expense (9,721) 6 Minority Interests in Subsidiaries (3,468) Net Income attributable to Shareholders 52,605 Corpbanca Itaú 11

Management Discussion & Analysis Executive Summary Accounting and Managerial Income Statements Reconciliation Accounting and Managerial Income Statements Reconciliation | 2nd Quarter of 2019 Non-recurring Managerial In Ch$ million Accounting Tax Effect of Hedge Managerial Events Reclassification Operating Revenues 322,835—(362) (30,223) 292,251 Managerial Financial Margin 259,936—(362) (17,659) 241,915 Financial Margin with Clients 217,893 — (10,019) 207,874 Financial Margin with the Market 42,043—(362) (7,641) 34,041 Commissions and Fees 62,899 — (12,563) 50,336 Cost of Credit (55,220) — (2,172) (57,392) Provision for Loan Losses (71,440) — (2,213) (73,653) Recovery of Loans Written Off as Losses 16,220 — (260) 15,960 Credit Value Adjustment (CVA) 0 — 301 301 Non-interest Expenses (201,821) 12,606—31,120 (158,095) Personnel Expenses (74,784) — 318 (74,466) Administrative Expenses (96,164) — 9,056 (87,108) Depreciation, Amortization and Impairment (30,873) 12,606—21,746 3,479 Income before Tax and Minority Interests 65,794 12,606 (362) (1,275) 76,764 Income Tax Expense (9,721) (3,856) 362 1,274 (11,941) Minority Interests in Subsidiaries (3,468) (961)—(0) (4,429) Recurring Net Income 52,605 7,789—(0) 60,394 Accounting and Managerial Income Statements Reconciliation | 1st Quarter of 2019 Non-recurring Managerial In Ch$ million Accounting Tax Effect of Hedge Managerial Events Reclassification Operating Revenues 278,954—9,885 (19,208) 269,631 Managerial Financial Margin 217,910—9,885 (6,745) 221,049 Financial Margin with Clients 206,062 — (3,908) 202,154 Financial Margin with the Market 11,848—9,885 (2,838) 18,895 Commissions and Fees 61,044 — (12,462) 48,582 Cost of Credit (47,857) — (13,782) (61,639) Provision for Loan Losses (59,067) — (14,729) (73,796) Recovery of Loans Written Off as Losses 11,210 — 462 11,672 Credit Value Adjustment (CVA) ——484 484 Non-interest Expenses (197,398) 10,086—32,953 (154,359) Personnel Expenses (72,956) — 802 (72,154) Administrative Expenses (93,934) — 24,086 (69,848) Depreciation, Amortization and Impairment (30,508) 10,086—8,065 (12,357) Income before Tax and Minority Interests 33,699 10,086 9,885 (37) 53,633 Income Tax Expense (3,033) (3,180) (9,885) 37 (16,061) Minority Interests in Subsidiaries (2,414) (971) — (3,385) Recurring Net Income 28,252 5,935 — 34,187 Corpbanca Itaú 12

Management Discussion & Analysis Executive Summary 2nd quarter of 2019 Income Statement We present below the managerial income statements with the reclassification and non -recurring adjustments described above: In Ch$ million 2Q19 1Q19 change 2Q18 change 6M19 6M18 change Operating Revenues 291,300 269,631 21,669 8.0% 286,095 5,205 1.8% 560,931 556,565 4,366 0.8% Managerial Financial Margin 240,964 221,049 19,915 9.0% 238,688 2,276 1.0% 462,013 461,940 73 0.0% Financial Margin with Clients 206,923 202,154 4,769 2.4% 196,174 10,750 5.5% 409,078 392,631 16,447 4.2% Financial Margin with the Market 34,041 18,895 15,146 80.2% 42,514 (8,474) -19.9% 52,936 69,309 (16,373) -23.6% Commissions and Fees 50,336 48,582 1,754 3.6% 47,407 2,929 6.2% 98,918 94,625 4,292 4.5% Cost of Credit (57,353) (61,639) 4,286 -7.0% (58,983) 1,630 -2.8% (118,992) (119,995) 1,003 -0.8% Provision for Loan Losses (73,645) (73,796) 150 -0.2% (81,239) 7,594 -9.3% (147,441) (151,643) 4,203 -2.8% Recovery of Loans Written Off as 15,991 11,672 4,319 37.0% 14,113 1,878 13.3% 27,663 22,899 4,764 20.8% Losses Credit Value Adjustment (CVA) 301 484 (183) -37.9% 8,142 (7,841) -96.3% 785 8,749 (7,964) -91.0% Non-interest Expenses (157,183) (154,359) (2,824) 1.8% (157,197) 14 0.0% (311,542) (310,294) (1,248) 0.4% Personnel Expenses (74,561) (72,154) (2,407) 3.3% (69,800) (4,762) 6.8% (146,715) (139,841) (6,874) 4.9% Administrative Expenses (67,925) (69,848) 1,923 -2.8% (77,344) 9,419 -12.2% (137,772) (151,121) 13,348 -8.8% Depreciation, Amortization and (14,697) (12,357) (2,340) 18.9% (10,054) (4,644) 46.2% (27,055) (19,333) (7,722) 39.9% Impairment Income before Tax and Minority Interests 76,764 53,633 23,131 43.1% 69,914 6,850 9.8% 130,397 126,276 4,121 3.3% Income Tax Expense (11,941) (16,061) 4,120 -25.7% (3,616) (8,324) 230.2% (28,002) (8,588) (19,414) 226.0% Minority Interests in Subsidiaries (4,429) (3,385) (1,044) 30.9% (1,373) (3,056) 222.5% (7,814) (2,613) (5,200) 199.0% Recurring Net Income 60,394 34,187 26,207 76.7% 64,924 (4,531) -7.0% 94,581 115,074 (20,493) -17.8% Corpbanca Itaú 13

Management Discussion & Analysis Executive Summary Results Net income analysis presented below is based on the Managerial Income Statement with the adjustments shown on pages 9 and 10: Recurring Net Income Ch$ 60.4 billion for the 2Q19 Highlights in the quarter The recurring net income for the second quarter of 2019 amounted to Ch$60.4 billion, a 76.7% increase from the previous quarter, and the managerial return on Ch$ million average tangible equity was 11.9% as of June 30, 2019 as compared to 6.9% as of March 31, 2019. In Chile, while activity with clients remained consistent with the trend shown in the previous quarter as consumer loans maintained a double-digit annual growth rate and commercial loans sustained a gradual recovery towards overall system growth rates, results in the quarter were positively impacted by a positive UF variation. Higher inflation positively impacted results from both our banking-book and trading portfolios and decreased our effective tax rate. In addition, non-interest expenses increased 1.8% quarter-over-quarter, below our estimate of 2.8% for Chile’s CPI inflation for 2019, reflecting management’s focus on the efficient use of resources. For the fifth consecutive quarter our operations in Colombia positively contributed to our consolidated results due to a strong cost discipline and lower loan loss provisions. Highlights in 2Q19 Return on Average Tangible Equity1 11.9 % The annualized recurring return on average tangible equity reached 11.9% in the second quarter of 2019, 5.0 percentage points higher and a 1.8 percentage points lower when compared to the previous quarter and the second quarter of 2018, respectively. Average tangible shareholders’ equity totaled Ch$2,030.1 billion, a 1.7% increase compared to the previous quarter and a 7.5% increase compared to the second quarter of 2018. Annualized recurring return on average assets ex-goodwill and ex-intangibles from business combination reached 0.8% in the second quarter of 2019, a 30 basis points increase compared to the previous quarter and 10 basis points decrease compared to the second quarter of 2018. (1) Tangible Equity: Shareholders equity net of goodwill, intangibles from business combination and related deferred tax liabilities. For further details by country see page 47 Itaú Corpbanca 14

Management Discussion & Analysis Executive Summary Financial Margin with Clients Cost of Credit Ch$ 206.9 billion Ch$ 57.4 billion Ch$ million Ch$ million Financial margin with clients increased 2.4% in the quarter due to (i) an The 7.0% decline in our cost of credit in the quarter is driven by lower increase in volume and spreads; and (ii) higher number of calendar days in the provisions in Colombia that more than offset the increase in provisions in quarter, which affects the accrual of the majority of our loan portfolio and certain of our corporate clients in Chile. Compared to the second quarter of deposits. 2018, cost of credit decreased by 2.8%, above our overall portfolio growth of 1.9%. When compared to the second quarter of 2018, our financial margin with clients increased 5.5% primarily supported by higher loan volumes in Chile with a higher yielding portfolio mix. For further details by country see pages 22 and 33 For further details by country see pages 25 and 36 Commissions and Fees Efficiency Ratio and Risk-Adjusted Efficiency Ratio Ch$ 50.3 billion 54.0 % Ch$ million Commissions and fees increased by 3.6% when compared to the first quarter Non-interest expenses presented a 1.8% expansion when compared to the of 2019, primarily due to higher credit operation fees. When compared to the previous quarter of 2019 on the back of higher depreciation and amortization. second quarter of 2018, commissions and fees increased by 6.2% mainly due When compared to the second quarter of 2018, expenses are flat. to higher credit and financial advisory fess. In the second quarter of 2019, our efficiency ratio reached 54.0%, an improvement of 3.3 percentage points from the previous quarter, explained by a 8.0% increase in operating revenues. Compared to the second quarter of 2018 there was an improvement of 90 basis points primarily due to higher operating revenues. The risk-adjusted efficiency ratio, which also includes the cost of credit, reached 67.2%, an improvement of 7.0 percentage points from the previous quarter and a 200 basis point improvement from the second quarter of 2018. For further details by country see pages 24 and 35 For further details by country see pages 29 and 40 Itaú Corpbanca 15

Management Discussion & Analysis Executive Summary 2019 Macroeconomic Outlook Our current economic expectations for 2019 for Chile and Colombia are shown below: 2016 2017 2018 2019 2016 2017 2018 2019 GDP 4.0% 3.3% 3.2% 2.6% 2.6% 2.4% 2.1% 1.7% 1.3% 1.4% 8-10% 12.2% 8-10% 10.2% Loan Growth 5.6% 4.5% 6.1% 5.8% 5.8% 2.7% 2.8% 2.6% 4.1% Inflation 2.3% 3.4% 3.2% 2.7% 3.5% 7.50% 3.5% Interest Rate 2.5% 2.75% 4.75% 4.75% 4.25% 2.0% 4.00% Current projection for 2019 Initial projection for 2019 2019 Forecast We present below our forecast for 2019: 1– Retail loans refers to mortgage and consumer loans; 2– Net provision for credit & counterparty risks; 3– Adjusted non-interest expenses. Although the growth plans and projections of results presented above are based on management assumptions and information available in the market to date, these expectations involve inaccuracies and risks that are difficult to anticipate and there may be, therefore, results or consequences that differ from those anticipated. This information is not a guarantee of future performance. The use of these expectations should take into consideration the risks and uncertainties that involve any activities and that are beyond our control. These risks and uncertainties include, but are not limited to, our ability to perceive the dimension of the synergies projected and their timing, political and economic changes, volatility in interest and foreign exchange rates, technological changes, inflation, financial disintermediation, competitive pressures on products, prices and changes in tax legislation, among others. Itaú Corpbanca 16

Income Statement and Balance Sheet Analysis Management Discussion & Analysis

(This page was intentionally left blank) Itaú Corpbanca 18

Management Discussion & Analysis Income Statement Analysis Managerial Results | Breakdown by Country Highlight The financial results of Itaú CorpBanca in Chile include some expenses associated with our Colombian operations. To provide a clear view of the contribution of each operation to the consolidated financial results we have reclassified from Chile to Colombia: · the cost of derivative structures used to hedge the investment and its related tax effects; and · other results and overhead costs from Colombia in Chile. For more details on managerial information, please refer to pages 9, 10 and 11 of this report. In this section, we present and analyze our results from the operations in Chile and in Colombia separately for 2Q’19, 1Q’19 and 2Q’18: 2Q’19 1Q’19 Change Consoli- Consoli- Consoli- In Ch$ million Chile Colombia1 Chile Colombia1 Chile Colombia1 dated dated dated Operating Revenues 291,300 211,977 82,248 269,631 187,414 85,573 8.0% 13.1% -3.9% Managerial Financial Margin 240,964 170,880 73,009 221,049 148,203 76,202 9.0% 15.3% -4.2% Financial Margin with Clients 206,923 146,516 60,407 202,154 140,814 61,340 2.4% 4.0% -1.5% Financial Margin with the Market 34,041 24,364 12,602 18,895 7,389 14,862 80.2% 229.7% -15.2% Commissions and Fees 50,336 41,097 9,239 48,582 39,211 9,371 3.6% 4.8% -1.4% Cost of Credit (57,353) (41,950) (15,403) (61,639) (36,572) (25,067) -7.0% 14.7% -38.6% Provision for Loan Losses (73,645) (53,765) (19,880) (73,796) (45,577) (28,219) -0.2% 18.0% -29.5% Recovery of Loans Written Off as Losses 15,991 11,514 4,477 11,672 8,520 3,152 37.0% 35.1% 42.0% Credit Value Adjustment (CVA) 301 301— 484 484— -37.9% -37.9%— Non-interest Expenses (157,183) (112,519) (44,665) (154,359) (111,190) (43,169) 1.8% 1.2% 3.5% Personnel Expenses (74,561) (52,502) (22,059) (72,154) (49,872) (22,282) 3.3% 5.3% -1.0% Administrative Expenses (67,925) (50,626) (17,299) (69,848) (52,261) (17,587) -2.8% -3.1% -1.6% Depreciation, Amortization and Impairment (14,697) (9,391) (5,307) (12,357) (9,057) (3,300) 18.9% 3.7% 60.8% Income before Tax and Minority Interests 76,764 57,509 22,180 53,633 39,651 17,338 43.1% 45.0% 27.9% Income Tax Expense (11,941) (4,695) (8,036) (16,061) (10,462) (6,505) -25.7% -55.1% 23.5% Minority Interests in Subsidiaries (4,429) (41) (4,388) (3,385) (6) (3,379) 30.9% 608.2% 29.9% Costs of hedge positions — (2,135) — (2,450) — -12,8% Recurring Net Income 60,394 52,774 7,620 34,187 29,184 5,003 76.7% 80.8% 52.3% Recurring Return on Managerial Tangible Equity 11.9% 13.0% 7.6% 6.9% 7.3% 5.1% 505 bps 569 bps 247 bps 2Q’19 2Q’18 Change Consoli- Consoli- Consoli- In Ch$ million Chile Colombia1 Chile Colombia1 Chile Colombia1 dated dated dated Operating Revenues 291,300 211,977 82,248 286,095 205,539 82,185 1.8% 3.1% 0.1% Managerial Financial Margin 240,964 170,880 73,009 238,688 167,646 72,671 1.0% 1.9% 0.5% Financial Margin with Clients 206,923 146,516 60,407 196,174 134,309 61,865 5.5% 9.1% -2.4% Financial Margin with the Market 34,041 24,364 12,602 42,514 33,338 10,806 -19.9% -26.9% 16.6% Commissions and Fees 50,336 41,097 9,239 47,407 37,893 9,514 6.2% 8.5% -2.9% Cost of Credit (57,353) (41,950) (15,403) (58,983) (25,824) (33,159) -2.8% 62.4% -53.5% Provision for Loan Losses (73,645) (53,765) (19,880) (81,239) (45,804) (35,435) -9.3% 17.4% -43.9% Recovery of Loans Written Off as Losses 15,991 11,514 4,477 14,113 11,837 2,276 13.3% -2.7% 96.7% Credit Value Adjustment (CVA) 301 301— 8,142 8,142— -96.3% -96.3%— Non-interest Expenses (157,183) (112,519) (44,665) (157,197) (110,061) (47,136) 0.0% 2.2% -5.2% Personnel Expenses (74,561) (52,502) (22,059) (69,800) (47,404) (22,395) 6.8% 10.8% -1.5% Administrative Expenses (67,925) (50,626) (17,299) (77,344) (55,235) (22,109) -12.2% -8.3% -21.8% Depreciation, Amortization and Impairment (14,697) (9,391) (5,307) (10,054) (7,422) (2,632) 46.2% 26.5% 101.7% Income before Tax and Minority Interests 76,764 57,509 22,180 69,914 69,654 1,889 9.8% -17.4% 1,074.0% Income Tax Expense (11,941) (4,695) (8,036) (3,616) (7,166) 3,110 230.2% -34.5% -358.4% Minority Interests in Subsidiaries (4,429) (41) (4,388) (1,373) 18 (1,391) 222.5% -324.1% 215.4% Costs of hedge positions — (2,135) — (1,190) — 79.5% Recurring Net Income 60,394 52,774 7,620 64,924 62,506 2,418 -7.0% -15.6% 215.1% Recurring Return on Managerial Tangible Equity 11.9% 13.0% 7.6% 13.7% 16.7% 2.5% -185 bps -375 bps 513 bps 1 In nominal currency Corpbanca Itaú 19

Management Discussion & Analysis Income Statement Analysis Accounting and Managerial Net Income Statement Reconciliation The Accounting and Managerial Net Income Statement Reconciliation for 2Q’19, 1Q´19 and 2Q’18 and as of June 30, 2019 and 2018 is presented below: In Ch$ million 2Q’19 1Q’19 2Q’18 6M’19 6M’18 Net Income Attributable to Shareholders (Accounting) 45,846 23,504 57,166 69,351 99,400 (+) Non-recurring events 3,834 4,027 5,009 7,861 10,494 (+) Other results and overhead costs from Colombia in Chile (a) 958 (797) (859) 161 (1,654) (+) Costs of fiscal and economic hedges of the investment in Colombia (b) (c) 2,135 2,450 1,190 4,585 4,854 Recurring Net Income 52,774 29,184 62,506 81,958 113,095 2Q’19 1Q’19 2Q’18 6M’19 6M’18 Net Income Attributable to Shareholders (Accounting) 6,759 4,748 771 11,506 1,297 (+) Non-recurring events 3,955 1,908 1,978 5,863 3,883 (+) Other results and overhead costs from Colombia in Chile (a) (958) 797 859 (161) 1,654 (+) Costs of fiscal and economic hedges of the investment in Colombia (b) (c) (2,135) (2,450) (1,190) (4,585) (4,854) Recurring Net Income 7,620 5,003 2,418 12,624 1,979 Managerial reclassifications: (a) Other results and overhead costs from Colombia in Chile: other results and overhead costs incurred by the administration in Chile and managerially assigned to Colombia. (b) Cost of Investment Hedge: carry cost of the derivatives used for the economic hedge of the investment in Colombia, currently booked in Chile. (c) Cost of Fiscal Hedge: cost of the derivative structure used for the fiscal hedge of the investment in Colombia, currently booked in Chile . Corpbanca Itaú 20

Management Discussion & Analysis Income Statement Analysis Managerial Results | Breakdown for Chile Net Income analysis for Chile presented below is based on the Managerial Income Statement with the adjustments shown on pages 19 and 20: change change change In Ch$ million 2Q’19 1Q’19 % $ 2Q’18 % $ 6M’19 6M’18 % $ Operating Revenues 211,977 187,414 13.1% 24,563 205,539 3.1% 6,438 399,391 405,223 -1.4% (5,832) Managerial Financial Margin 170,880 148,203 15.3% 22,677 167,646 1.9% 3,234 319,083 327,989 -2.7% (8,906) Financial Margin with Clients 146,516 140,814 4.0% 5,702 134,309 9.1% 12,208 287,330 269,919 6.5% 17,411 Financial Margin with the Market 24,364 7,389 229.7% 16,975 33,338 -26.9% (8,974) 31,752 58,070 -45.3% (26,317) Commissions and Fees 41,097 39,211 4.8% 1,886 37,893 8.5% 3,204 80,308 77,234 4.0% 3,074 Cost of Credit (41,950) (36,572) 14.7% (5,377) (25,824) 62.4% (16,126) (78,522) (55,667) 41.1% (22,856) Provision for Loan Losses (53,765) (45,577) 18.0% (8,188) (45,804) 17.4% (7,961) (99,342) (83,035) 19.6% (16,307) Recovery of Loans Written Off as 11,514 8,520 35.1% 2,994 11,837 -2.7% (323) 20,034 18,619 7.6% 1,415 Losses Credit Value Adjustment (CVA) 301 484 -37.9% (183) 8,142 -96.3% (7,841) 785 8,749 -91.0% (7,964) Non-interest Expenses (112,519) (111,190) 1.2% (1,329) (110,061) 2.2% (2,457) (223,709) (218,958) 2.2% (4,750) Personnel Expenses (52,502) (49,872) 5.3% (2,630) (47,404) 10.8% (5,098) (102,374) (95,963) 6.7% (6,411) Administrative Expenses (50,626) (52,261) -3.1% 1,635 (55,235) -8.3% 4,609 (102,887) (108,706) -5.4% 5,819 Depreciation, Amortization and (9,391) (9,057) 3.7% (333) (7,422) 26.5% (1,968) (18,448) (14,290) 29.1% (4,158) Impairment Income before Tax and Minority Interests 57,509 39,651 45.0% 17,857 69,654 -17.4% (12,145) 97,160 130,598 -25.6% (33,438) Income Tax Expense (4,695) (10,462) -55.1% 5,767 (7,166) -34.5% 2,472 (15,157) (17,515) -13.5% 2,358 Minority Interests in Subsidiaries (41) (6) 608.2% (35) 18 -324.1% (59) (46) 11 - (58) Recurring Net Income 52,774 29,184 80.8% 23,590 62,506 -15.6% (9,732) 81,958 113,095 -27.5% (31,137) Corpbanca Itaú 21

Management Discussion & Analysis Income Statement Analysis Managerial Financial Margin Highlight · Financial margin with clients is higher due to an increase in volume and spreads as well as one more of calendar day. · Financial margin with the market is higher primarily due to an increase in assets and liability management gains on the back of higher inflation in second quarter of 2019 (1.2% in 2Q 2019 vs 0.0% in 1Q 2019) partly offset by a negative trend in CVA due to lower interest rates in the United States. Ch$ million Managerial Financial Margin Financial Margin with Clients + 4.0% (2Q19/1Q19) Ch$ 146.5 million + 9.1% (2Q19/2Q18) Financial Margin with the Market + 229.7% (2Q19/1Q19) Ch$ 24.4 million —26.9% (2Q19/2Q18) Financial Margin with Clients Financial margin with clients comprises our spread -sensitive operations, working capital and others. Spread-sensitive operations are: (i) the assets margin, that is the difference between the amount received in loan operations and the cost of money charged by treasury banki ng and (ii) the liabilities margin, which is the difference between the cost of funding and the amount received from treasury banking. Workin g capital margin is the interest on working capital at the TPM interest rate. Change in the Financial Margin with Clients Breakdown 1 2 3 4 1 Mix of products (+Ch124 million): continue increase in loan portfolio for individuals and very small and small companies contributed to a higher share of products for these segments in the total financial margin with clients. 2 Average asset portfolio, assets spreads and liabilities margin (+Ch$3,999 million): increase in weighted average spread of the loan portfolio was partially offset by the growth in the average portfolio. 3 Number of calendar days (+Ch972 million) one more calendar day during 2Q19. 4 Working capital and other (+Ch$346 million): dividends received by our stock brokerage subsidiary derived from its share ownership in the Santiago Stock Exchange. Itaú Corpbanca 22

Management Discussion & Analysis Income Statement Analysis Annualized average rate of financial margin with clients Financial Margin with Clients: 2Q19 1Q19 + 1 bp · Increase in weighted average spread of Average Financial Average Average Financial Average the loan portfolio. Balance Margin Rate Balance Margin Rate In Ch$ millions, end of period Risk-Adjusted Financial Margin with Clients: Financial Margin with Clients 19,498,398 146,516 3.0% 19,020,679 140,814 3.0% Cost of Credit (41,950) (36,572) —7 bp Risk-Adjusted Financial Margin with Clients 19,498,398 104,567 2.1% 19,020,679 104,242 2.2% · Increase in weighted average spread of the loan portfolio was offset by increase in cost of credit in the quarter. Financial Margin with the Market Financial margin with the market includes (i) treasury banking, that manages mismatches of assets and liabilities (ALM – Assets and Liability Management), tenors and interest, foreign exchange and other rates and (ii) treasury trading, that manages proprietary portfo lios and may assume guiding positions, in compliance with the limits established by our risk appetite. Financial margin with the market increased 229.7% in 2Q19 compared to 1Q19. This expansion was due to higher gains from asset and liability management due to a increase in inflation linked income driven by a +1.2% variation of the UF in the quarter. This was partly offset by the negative impact of the movement of interest rates on CVA. Ch$ million UF net exposure (Ch$ trillion) UF — Unidad de Fomento (variation value) Itaú Corpbanca 23

Management Discussion & Analysis Income Statement Analysis Commissions and Fees Highlights · In the second quarter of 2019, commissions and fees amounted Ch$41.1 billion, a 4.8% increase from the previous quarter mainly driven by higher fees from credit and insurance brokerage. This effect was partially offset by a decrease in financial advisory fees that decreased Ch$1.5 billion or 43.8% quarter over quarter, as we experienced more cyclical behavior. In Ch$ million 2Q19 1Q19 change 2Q18 change 6M19 6M18 change Insurance Brokerage 10,261 9,488 773 8.1% 10,227 34 0.3% 19,749 19,410 339 1.7% Credit Operations and Guarantees Provided 9,825 7,589 2,236 29.5% 6,419 3,406 53.1% 17,413 12,465 4,948 39.7% Current Accout Services and Overdraft Fees 9,353 9,604 (251) -2.6% 9,340 13 0.1% 18,957 18,399 559 3.0% Asset Management 3,848 3,737 112 3.0% 3,804 45 1.2% 7,585 7,578 7 0.1% Financial Advisory 1,941 3,450 (1,510) -43.8% 803 1,138 141.8% 5,391 5,520 (129) -2.3% Other 5,870 5,343 527 9.9% 7,301 (1,431) -19.6% 11,213 13,863 (2,650) -19.1% Total Commissions and Fees 41,097 39,211 1,886 4.8% 37,893 3,204 8.5% 80,308 77,234 3,074 4.0% Commissions and Fees Breakdown 2Q19 1Q19 Itaú Corpbanca 24

Management Discussion & Analysis Income Statement Analysis Cost of Credit In Ch$ million 2Q19 1Q19 change 2Q18 change 6M19 6M18 change Net Provision for Loan Losses (42,251) (37,057) (5,194) 14.0% (33,966) (8,285) 24.4% (79,307) (64,415) (14,892) 23.1% Provision for Loan Losses (53,765) (45,577) (8,188) 18.0% (45,804) (7,961) 17.4% (99,342) (83,035) (16,307) 19.6% Recovery of Loans Written Off as Losses 11,514 8,520 2,994 35.1% 11,837 (323) -2.7% 20,034 18,619 1,415 7.6% Credit Value Adjustment (CVA) 301 484 (183) -37.9% 8,142 (7,841) -96.3% 785 8,749 (7,964) -91.0% Cost of Credit (41,950) (36,572) (5,377) 14.7% (25,824) (16,126) 62.4% (78,522) (55,667) (22,856) 41.1% In the second quarter of 2019, cost of credit amounted to Ch$41.95 billion, a Allowance for Loan Losses and Loan Portfolio 14.7% increase from the previous quarter that is mainly explained by downgrades in certain of our corporate clients partly offset by an increase in recoveries. Cost of Credit and Loan Portfolio As of June 30, 2019, our loan portfolio increased 2.4% from March 31, 2019, reaching Ch$17.3 trillion, whereas the allowance for loan losses increased 2.2% in the quarter, totaling Ch$418.1 billion. Therefore the ratio of allowance for loan losses to loan portfolio remained stable for the third consecutive At the end of the second quarter of 2019, our net provision for loan losses quarter at 2.44%. over loan portfolio increased to 1.0% from 0.9% compared to the previous quarter and increased from 0.6% when compared to the second quarter of last year. Itaú Corpbanca 25

Management Discussion & Analysis Income Statement Analysis Credit Quality Delinquency Ratios Non-Performing Loans Ch$ million NPL Ratio (%) by Segments | over 90 days The portfolio of credits 90-day overdue increased Ch$419 million or 0.1% in the second quarter of 2019 driven by Ch$7,699 million or 13.0% increase in our students loans which are part of our commercial loan portfolio. Potential In the second quarter 2019, the NPL ratio over 90 days for consumer loans credit losses coming from these arrears are limited since these loans are went down from 1.99% to 1.72%. The NPL ratio for mortgage loans also government guaranteed. Our retail loans portfolio NPLs decreased by decreased from 1.78% to 1.67% compared to the previous quarter. This Ch$6,678 million or 4.1% due to a decrease in both mortgage and consumer improvement comes as retail loan growth has been focused on mid to low risk loans. individuals. The NPLs decreased Ch$20.1 billion or 6.3% from the same period of the The NPL ratio increased by 2 basis point for commercial loans compared to previous year mainly explained by a Ch$22.0 billion decrease in the our the previous quarter from 1.95% to 1.97%. When excluding student loans from commercial portfolio excluding student loans. this portfolio, the commercial ex student loans NPL reached 1.40%, decreasing 12 basis points compared to the previous quarter. NPL Ratio (%) | over 90 days Coverage Ratio (%) | 90 days The NPL ratio of credits 90-day overdue decreased from 1.92% to 1.88% compared to the previous quarter. Compared to the same period of 2018, the As of June 30, 2019, the 90-day coverage ratio reached 129%, three ratio decreased 25 basis points driven by the aforementioned decreased in the percentage points up from the previous quarter driven by the decrease all commercial loans NPLs. NPLs segments. Compared to June 30, 2018 the total 90-day coverage ratio increased 15 percentage points reflecting the aforementioned decreased in commercial loans NPLs. Corpbanca Itaú 26

Management Discussion & Analysis Income Statement Analysis Loan Portfolio Write-Off NPL Creation Ch$ billion * Loan portfolio average balance of the two previous quarters. In the second quarter of 2019, the loan portfolio write-off totaled Ch$36.2 billion, In the second quarter of 2019, NPL Creation reached Ch$36.7 billion a 2.4% decreased compared to the previous quarter. The ratio of written-off down 29.8% compared to the previous period. operations to loan portfolio average balance reached 0.85%, down 3 basis points compared to the first quarter of 2019. NPL Creation Coverage Recovery of Loans Written-off as Losses Ch$ million In the second quarter of 2019, total NPL Creation coverage reached 147%, which means that the provision for loan losses in the quarter was higher than In the second quarter of 2019, income from recovery of loans written-off increased NPL Creation. The trend shown since 4Q16 demonstrates that our portfolio is Ch$3.0 billion, or 35.1%, from the previous quarter. still more concentrated in wholesale loans where we anticipate the provision compared to overdue loans. When compared to second quarter of 2018, the income from recovery of loans written-off decreased Ch$323 million, or 2.7%, compared to the same period of the previous year. Itaú Corpbanca 27

Management Discussion & Analysis Income Statement Analysis Non-interest Expenses Highlights · Non-interest expenses amounted to Ch$112.5 billion in the quarter, a 1.2% increase from the previous quarter and a 2.2% increase in the twelve-month, below our estimate of 2.8% for Chile’s CPI inflation for 2019. In Ch$ million 2Q19 1Q19 change 2Q18 change 6M19 6M18 change Personnel expenses (52,502) (49,872) (2,630) 5.3% (47,404) (5,098) 10.8% (102,374) (95,963) (6,411) 6.7% Administrative expenses (50,626) (52,261) 1,623 -3.1% (55,235) 4,609 -8.3% (102,887) (108,706) 5,819 -5.4% Personnel and Administrative Expenses (103,128) (102,133) (995 1.0% (102,639) (489) 0.5% (205,260) (204,669) (592) 0.3% Depreciation, amortization and Impairment (9,391) (9,057) (333) 3.7% (7,422) (1,968) 26.5% (18,448) (14,290) (4,158) 29.1% Total Non-interest Expenses (112,519) (111,190) (1,329) 1.2% (110,061) (2,457) 2.2% (223,709) (218,958) (4,750) 2.2% Personnel Expenses Depreciation and Amortization Personnel expenses totaled Ch$52.5 billion in the second quarter of 2019, a Depreciation, amortization and impairment expenses totaled Ch$9.4 billion in 5.3% increase when compared to the previous quarter mainly due to higher the second quarter of 2019, an 3.7% increase when compared to the first performance bonuses. Compared to the second quarter of 2018, there is a quarter of 2019. When compared to the second quarter of 2018, there was 10.8% increase in expenses also explained by higher performance bonuses an 26.5% increase, explained primarily by the investment made in develop-and an increase in severances. ment of software and systems which increased the base of intangibles on our balance sheet. Administrative Expenses Administrative expenses amounted to Ch$50.6 billion in the second quarter of 2019, a 3.1% decrease when compared to the previous quarter. When compared to second quarter of 2018, there was a 8.3% decrease in expenses. Headcount 5,510 Headcount in Chile and New York at the end of the 2Q19 —0.8% (2Q19/1Q19) —5.4% (2Q19/2Q18) The total number of employees including the Itaú Corpbanca New York branch was 5,510 at the end of the second quarter of 2019 compared to 5,557 in the first quarter of 2019 and 5,822 at the end of the second quarter of 2018, a 5.4% reduction in headcount in the twelve-month period. Itaú Corpbanca 28

Management Discussion & Analysis Income Statement Analysis Efficiency Ratio and Risk-Adjusted Efficiency Ratio We present the efficiency ratio and the risk-adjusted efficiency ratio, which includes the cost of credit. Risk-Adjusted Non-interest Expenses (Personnel + Administrative + Depreciation & Amortization + Impairment) Efficiency Ratio = Managerial Financial Margin + Commission and Fees + Cost of Credit Efficiency Ratio Risk-Adjusted Efficiency Ratio In the second quarter of 2019, our efficiency ratio reached 53.1%, an improve- The risk-adjusted efficiency ratio, which also includes the cost of credit, ment of 6.2 percentage points when compared to the first quarter of 2018. reached 66.2% in the second quarter of 2019, an improvement of 7.5 per-This was mainly due to higher operating revenues mainly due to an increase centage points compared to the previous quarter as a result of higher operat-in financial margin with market driven by higher UF variation. ing revenues in the period as previously mentioned in this report, partially offset by a 14.7% increase in cost of credit. When compared to the second quarter of 2018, the efficiency ratio was almost flat (-40 basis points), explained by a 3.1% increase in operating revenues When compared to the second quarter of 2019, the risk-adjusted efficiency almost offset by a 2.2% increase in non-interest expenses. ratio deteriorated by 5.0 percentage points due a 62.4% increase in the cost of credit. Net Operating Profit Before Credit & Counterparty Losses Distribution The chart below shows the portions of operating revenues used to cover non -interest expenses and cost of credit. Itaú Corpbanca 29

Management Discussion & Analysis Income Statement Analysis Distribution Network Points of Service in Chile Automated Teller Machines (ATMs) | Chile Our distribution network provides integrated financial services and By the end of the second quarter of 2019, the number of ATMs totaled products to our customers through diverse channels, including ATMs, 464 in Chile, stable in the quarter and a decrease of 32 ATMs or 6.5% branch offices (physical and digital), mobile banking, internet banking since Legal Day One. Additionally, our customers had access to over and telephone banking. 7,830 ATMs in Chile through our agreement with Redbanc. Branches | Chile and New York As of June 30, 2019 we had 194 branches, 8 branches or 4.0% less than in the first quarter of 2019. This is the second part of our enhanced branch network strategy meant to create additional savings after the Legal Day One (April 1, 2016). In addition, starting in the fourth quarter 2017 we have further enhanced “Banco Condell” through the integration of 24 branches to “Itaú” spaces (one of them in the 2Q 2019), enabling not only cost and operating sa -vings but increasing productivity and customer satisfaction. As a result, the brand composition has changed. By the end of the se—* Historical data prior to 1Q 2018 includes “Corpbanca” ATM’s. cond quarter of 2019 in Chile, we operated (i) 138 branch offices under the “Itaú” brand (24 exclusive for our segment Itaú Personal Bank, being one of them a digital branch); and (ii) 55 branches under the “Banco Condell” brand –our consumer finance division– (31 exclusive Condell branches and 24 integrated branches). We also have one branch in New York. * Historical data prior to 4Q 2017 includes “CorpBanca” branches Itaú Corpbanca 30

Management Discussion & Analysis Balance Sheet Credit Portfolio Highlight · At the end of the second quarter of 2019, our total consolidated credit portfolio in Chile reached Ch$17.3 trillion, an increase of 2.4% from the previous quarter and of 6.8% from the second quarter of 2018. Credit Portfolio by Products In the following table, the loan portfolio is split into two groups: wholesale lending and retail lending. For a better under standing of the performance of these portfolios, the main product groups of each segment are presented below: In Ch$ million, end of period 2Q19 1Q19 change 2Q18 change Wholesale lending 11,529,985 11,251,074 2.5% 10,798,014 6.8% Commercial loans 9,897,268 9,624,539 2.8% 9,400,429 5.3% Foreign trade loans 939,648 932,554 0.8% 799,908 17.5% Leasing and factoring 693,069 693,981 -0.1% 597,677 16.0% Retail lending 5,786,612 5,652,001 2.4% 5,416,138 6.8% Residential Mortgage loans 3,940,821 3,860,395 2.1% 3,773,303 4.4% Consumer loans 1,845,791 1,791,606 3.0% 1,642,835 12.4% Consumer installment loans 1,270,650 1,212,802 4.8% 1,123,209 13.1% Current account overdrafts 199,415 204,660 -2.6% 197,164 1.1% Credit card debtors 375,205 373,603 0.4% 321,850 16.6% Other loans and receivables 521 541 -3.7% 612 -14.9% TOTAL LOANS 17,316,597 16,903,075 2.4% 16,214,152 6.8% Our portfolio in Chile grew 6.8% year-over-year, showing a gradual conver- In the second quarter of 2019, activity continued extensive strike at Codelco’s gence to the pace of the overall market. This comes as the result of the third-largest mine in June limited improvement in 2Q19. Additionally, the still dynamics we’ve been highlighting in our previous reports . complex external environment continues to hamper global trade and Chilean growth. We expect GDP growth around 2.3% in 2Q19, up from 1.6% in 1Q19 Our commercial loans, which have been responsible for most of the overall but still well below potential, resulting in a widening of the output gap that we underperformance since our merger, continue to converge to market pace as believe would convince the central bank to implement more rate cuts later this we concluded the reduction of non-core exposures and further strengthened year (to 2.0%). client relationships and service levels. In the second quarter of 2019, this portfolio increased 2.5%, totaling Ch$11.53 trillion. We have grown our Inflation at the end of the second quarter sits well below the central bank’s 3% commercial portfolio at a pace of 6.8% in the last 12-month period ended June target at 2.3%, while core measures were broadly unchanged at 2.1%. 30, 2019. Meanwhile, consumer and business confidence remain downbeat and Our retail loan portfolio reached Ch$5.79 trillion at the end of the second government approval levels reached low terms. However, some advancement quarter of 2019, an increase of 2.4% compared to the previous quarter. Our of the tax reform was achieved as the administration and legislators from the consumer loan portfolio continues to outperform the overall market speed by center-left Christian Democracy (DC) signed an agreement to proceed with the over 20%, leveraged by our segmentation strategy and improvements in digital tax reform initiative. The proposal establishes a reintegrated tax regime in offer and overall client service and should continue to lead our rebalance to a which shareholders can discount taxes paid by companies, which the govern-higher yielding portfolio mix. On the mortgage front, we expect to continue ment sees as key to boosting investment. underperforming in the short-term as we redesign our operational model and value proposition for that product. Thus, consumer loans reached Ch$1.85 trillion, an increase of 3.0% compared the previous quarter and 12.4% compared to the 12-month period ended June 30, 2019, lead by consumer installment loans growth. Residential mortgage loans reached Ch$3.94 trillion at the end of the second quarter of 2019, an increase of 2.1% compared to the previous quarter and of 4.4% compared to the 12-month period ended June 30, 2019. Itaú Corpbanca 31

Management Discussion & Analysis Income Statement Analysis Managerial Results | Breakdown for Colombia Net Income analysis for Colombia presented below is based on the Managerial Income Statement with the adjustments shown on pa ges 19 and 20: 2Q’19 1Q’19 % 2Q’18 % Exchange Exchange Change in Exchange Change in Nominal Constant Nominal Constant Nominal Constant In Ch$ million Rate Rate Constant Rate Constant Currency Currency Currency Currency Currency Currency Effect1 Effect1 Currency Effect1 Currency Operating Revenues 82,248 412 82,660 85,573 (426) 85,147 -2.9% 82,185 (3,225) 78,960 4.7% Managerial Financial Margin 73,009 361 73,371 76,202 (374) 75,829 -3.2% 72,671 (2,837) 69,834 5.1% Financial Margin with Clients 60,407 312 60,719 61,340 (287) 61,053 -0.5% 61,865 (2,411) 59,454 2.1% Financial Margin with the Market 12,602 49 12,652 14,862 (87) 14,776 -14.4% 10,806 (426) 10,380 21.9% Commissions and Fees 9,239 51 9,289 9,371 (53) 9,318 -0.3% 9,514 (388) 9,125 1.8% Cost of Credit (15,403) (68) (15,471) (25,067) 88 (24,979) -38.1% (33,159) 1,348 (31,812) -51.4% Provision for Loan Losses (19,880) (89) (19,970) (28,219) 108 (28,111) -29.0% (35,435) 1,439 (33,996) -41.3% Recovery of Loans Written Off as Losses 4,477 22 4,499 3,152 (20) 3,132 43.7% 2,276 (91) 2,185 105.9% Non-interest Expenses (44,665) (147) (44,811) (43,169) 260 (42,909) 4.4% (47,136) 1,937 (45,199) -0.9% Personnel Expenses (22,059) (105) (22,164) (22,282) 103 (22,179) -0.1% (22,395) 889 (21,506) 3.1% Administrative Expenses (17,299) (56) (17,355) (17,587) 67 (17,520) -0.9% (22,109) 877 (21,233) -18.3% Depreciation, Amortization and Impairment (5,307) 14 (5,293) (3,300) 90 (3,210) 64.9% (2,632) 171 (2,460) 115.1% Income before Tax and Minority Interests 22,180 197 22,377 17,338 (78) 17,259 29.7% 1,889 59 1,949 1,048.3% Income Tax Expense (8,036) (74) (8,110) (6,505) 13 (6,492) 24.9% 3,110 (167) 2,943 -375.6% Minority Interests in Subsidiaries (4,388) (79) (4,467) (3,379) (16) (3,395) 31.6% (1,391) 31 (1,360) 228.5% Costs of hedge positions (2,135)—(2,135) (2,450)—(2,450) -12.8% (1,190)—(1,190) 79.5% Recurring Net Income 7,620 44 7,665 5,003 (81) 4,923 55.7% 2,418 (76) 2,342 227.3% 6M19 6M18 % Exchange Exchange Change in Nominal Constant Nominal Constant In Ch$ million Rate Rate Constant Currency Currency Currency Currency Effect1 Effect1 Currency Operating Revenues 167,821 (15) 167,806 157,992 (3,511) 154,480 8.6% Managerial Financial Margin 149,212 (12) 149,199 140,601 (3,088) 137,513 8.5% Financial Margin with Clients 121,747 25 121,772 122,712 (2,631) 120,081 1.4% Financial Margin with the Market 27,465 (37) 27,427 17,889 (457) 17,433 57.3% Commissions and Fees 18,609 (2) 18,607 17,391 (424) 16,967 9.7% Cost of Credit (40,470) 20 (40,450) (64,329) 1,402 (62,927) -35.7% Provision for Loan Losses (48,099) 19 (48,080) (68,609) 1,517 (67,092) -28.3% Recovery of Loans Written Off as Losses 7,629 2 7,631 4,280 (115) 4,165 83.2% Non-interest Expenses (87,833) 113 (87,720) (91,336) 2,165 (89,171) -1.6% Personnel Expenses (44,341) (2) (44,343) (43,878) 941 (42,937) 3.3% Administrative Expenses (34,886) 11 (34,875) (42,415) 972 (41,443) -15.8% Depreciation, Amortization and Impairment (8,607) 104 (8,502) (5,043) 252 (4,791) 77.4% Income before Tax and Minority Interests 39,518 119 39,637 2,327 55 2,382 1,563.9% Income Tax Expense (14,541) (61) (14,602) 7,131 (212) 6,919 —Minority Interests in Subsidiaries (7,767) (95) (7,862) (2,625) 45 (2,580) 204.7% Costs of hedge positions (4,585)—(4,585) (4,854)—(4,854) -5.5% Recurring Net Income 12,624 (36) 12,587 1,979 (112) 1,867 574.1% (1) Refers to the elimination of the impact of the foreign exchange rate variation, by converting all figures from each of the pe riods analyzed at a single foreign exchange rate: Ch$0.2113 per COP as of June 30, 2019. Itaú Corpbanca 32

Management Discussion & Analysis Income Statement Analysis Managerial Financial Margin Highlight · Financial margin with clients is lower due to a normalization derived from the sale of corporate assets as well as dividends received in the previous quarter partly offset by the growth in average portfolio and one more of calendar day. · Financial margin with the market is lower driven primarily by lower gains in asset and liability management and trading results in the quarter. Ch$ million Managerial Financial Margin Financial Margin with Clients —0.5% (2Q19/1Q19) Ch$ 60.7 million + 2.1% (2Q19/2Q18) Financial Margin with the Market —14.4% (2Q19/1Q19) Ch$ 12.7 million + 21.9% (2Q19/2Q18) Note: Figures are expressed in constant currency, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate of Ch$0.2113 per COP as of June 30, 2019. Financial Margin with Clients Financial margin with clients comprises our spread -sensitive operations, working capital and others. Spread-sensitive operations are: (i) the assets margin, that is the difference between the amount received in loan operations and the cost of money charged by treasury banki ng and (ii) the liabilities margin, which is the difference between the cost of funding and the amount received from treasury banking. Workin g capital margin is the interest on working capital at the TPM interest rate. Change in the Financial Margin with Clients Breakdown 1 2 3 Note: Figures are expressed in constant currency, thus all figures from each of the periods analyzed were converted into Chilean pe so at a single foreign exchange rate of Ch$0.2113 per COP as of June 30, 2019. 1 Average asset portfolio, assets spreads and liabilities margin (+Ch$827 million): growth in the average portfolio. 2 Commercial spreads on derivatives and FX transactions with clients (+Ch724 million) : benefits from FX transaction with clients. 3 Working capital and other (-Ch$2,009 million) associated with sale of corporate assets in 1Q 2019. Itaú Corpbanca 33

Management Discussion & Analysis Income Statement Analysis Annualized average rate of financial margin with clients Financial Margin with Clients: 1Q19—26 bps 2Q19 · Negative impact associated with sale of Average Financial Average Average Financial Average corporate assets in 1Q 2019. Balance Margin Rate Balance Margin Rate In Ch$ millions, end of period Financial Margin with Clients 6,338,057 60,719 3.9% 6,044,433 61,053 4.1% Risk-Adjusted Financial Margin with Clients: Cost of Credit (15,471) (24,979) + 45 bps Risk-Adjusted Financial Margin with Clients 6,338,057 45,248 2.9% 6,044,433 36,074 2.4% · Decrease in the rate of financial margin with clients was offset by the decrease in Note: Figures are expressed in constant currency, thus all figures from each of the periods analyzed were converted into Chilean pe so cost of credit. at a single foreign exchange rate of Ch$0.2113 per COP as of June 30, 2019. Financial Margin with the Market Financial margin with the market includes (i) treasury banking, that manages mismatches of assets and liabilities (ALM – Assets and Liability Management), tenors and interest, foreign exchange and other rates and (ii) treasury trading that manages proprietary portfol ios and may assume guiding positions, in compliance with the limits established by our risk appetite. Financial margin with the market decreased by 14.4% in 2Q19 compared to 1Q19. This decrease was due to by lower gains in asse ts and liability management and trading results in the period on the back of last quarter gains on available for sale investments. Ch$ million Note: Figures are expressed in constant currency, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate of Ch$0.2113 per COP as of June 30, 2019. Itaú Corpbanca 34

Management Discussion & Analysis Income Statement Analysis Commissions and Fees Highlights · In the second quarter of 2019, commissions and fees amounted to Ch$9.3 billion, a 0.3% decrease from the previous quarter mainly driven by lower fees from insurance brokerage. This effect was partially offset by an increase in asset and cash management fees that were up by 10% and 11.4%, respectively, in the quarter. In Ch$ million 2Q19 1Q19 change 2Q18 change 6M19 6M18 change Insurance Brokerage 1,694 1,955 (261) -13.3% 1,504 190 12.6% 3,649 2,917 732 25.1% Credit Operations and Guarantees Provided 1,183 1,272 (89) -7.0% 1,061 123 11.6% 2,456 2,180 275 12.6% Asset Management 3,089 2,809 280 10.0% 2,516 573 22.8% 5,899 4,944 955 19.3% Financial Advisory 712 756 (44) -5.8% 1,467 (755) -51.5% 1,468 1,688 (220) -13.1% Cash Management 1,663 1,493 170 11.4% 1,499 164 10.9% 3,156 2,917 240 8.2% Other 948 1,032 (84) -8.2% 1,078 (131) -12.1% 1,980 2,321 (341) -14.7% Total Commissions and Fees 9,289 9,318 (29) -0.3% 9,125 164 1.8% 18,607 16,967 1,640 9.7% Note: Commissions and fees for Colombia is expressed in constant currency in order to eliminate the impact of the foreign exchange rate variation, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate of Ch$0.2113 per COP as of Ju ne 30, 2019. Commissions and Fees Breakdown 2Q19 1Q19 Itaú Corpbanca 35

Management Discussion & Analysis Income Statement Analysis Cost of Credit In Ch$ million 2Q19 1Q19 change 2Q18 change 6M19 6M18 change Provision for Loan Losses (19,970) (28,111) 8,141 -29.0% (33,996) 14,027 -41.3% (48,080) (67,092) 19,012 -28.3% Recovery of Loans Written Off as Losses 4,499 3,132 1,367 43.7% 2,185 2,314 105.9% 7,631 4,165 3,466 83.2% Cost of Credit (15,471) (24,979) 9,508 -38.1% (31,812) 16,341 -51.4% (40,450) (62,927) 22,477 -35.7% Note: Cost of credit for Colombia is expressed in constant currency in order to eliminate the impact of the foreign exchange rate v ariation, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate of Ch$0.2113 per COP as of June 30, 2 019. In the second quarter of 2019, cost of credit amounted to Ch$15.5 billion, a Allowance for Loan Losses and Loan Portfolio 38.1% decrease from the previous quarter. When compared to the second quarter of 2018, there was a 51.4% decrease due to lower cost of credit related to wholesale clients and an increase in loans written off recoveries. Cost of Credit and Loan Portfolio Note: Allowance for loan losses for Colombia is expressed in constant currency in order to eliminate the impact of the foreign exchange rate variation, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate of Ch$0.2113 per COP as of June 30, 2019. As of June 30, 2019, the loan portfolio increased by 1.2% in constant currency compared to March 31, 2019, reaching Ch$4.74 trillion, whereas the allowance for loan losses decreased 2.6% in the quarter, totaling Ch$256.5 billion. The ratio of allowance for loan losses to loan portfolio decreased from Note: Provision from loan losses and cost of credit for Colombia is expressed in constant 5.72% as of March 31, 2019 to 5.44% as of June 30, 2019. currency in order to eliminate the impact of the foreign exchange rate variation, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate of Ch$0.2113 per COP as of June 30, 2019. At the end of the second quarter of 2019, our provision for loan losses over loan portfolio was 1.3%, a decrease of 80 basis points compared to the previous quarter and a decrease of 130 basis points compared to the second quarter of last year as we have been diligence in credit risk control. This trend shows a convergency to more normalized cost of credit levels for Colombia. Itaú Corpbanca 36

Management Discussion & Analysis Income Statement Analysis Credit Quality Delinquency Ratios Non-Performing Loans Ch$ million Note: NPLs for Colombia is expressed in constant currency in order to eliminate the impact of the foreign exchange rate variation, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate of Ch$0.2113 per COP as of June 30, 2019. The portfolio of credits 90 days overdue increased 3.9% in the second quarter of 2019 compared to previous quarter and 13.7% compared to same period of the previous year, driven by an increase in NPLs of commercial loans 90 days overdue. NPL Ratio (%) | over 90 days The NPL ratio of credits 90 days overdue increased 8 basis points in the second quarter of 2019 compared to the previous quarter, and reached 3.23% by the end of June 2019. Compared to the same period of 2018, the ratio increased 34 basis points, mainly due to the increase in the delinquency rates of commercial loans. Itaú Corpbanca NPL Ratio (%) by Segments | over 90 days In June 2019, the NPL ratio over 90 days for consumer loans decreased by 5 basis points reaching 1.89%. At the same time, the NPL ratio for mortgage loans increased by 4 basis points (from 4.27% to 4.31%) from the previous quarter. The NPL ratio also increased by 12 basis points for commercial loans from 3.27% to 3.39% compared to March 31, 2019. Coverage Ratio (%) | 90 days As of June 30, 2019, the 90-day coverage ratio reached 167%, a decrease of 11 percentage points compared to the previous quarter. On a 12-month comparison, the total 90-day coverage ratio decreased 37 percentage points. It is important to note that we maintain a high coverage for the Colombian loan portfolio given that the regulatory criteria that we have to follow for that portfolio –given that for consolidation purposes only– our policy is to apply the most conservative provisioning rule between Chile and Colombia. 37

Management Discussion & Analysis Income Statement Analysis Loan Portfolio Write-Off NPL Creation Ch$ billion * Loan portfolio average balance of the two previous quarters. Note: NPL creation for Colombia is expressed in constant currency in order to eliminate Note: Write-off for Colombia is expressed in constant currency in order to eliminate the impact of the foreign exchange rate variation, thus all figures from each of the the impact of the foreign exchange rate variation, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate of periods analyzed were converted into Chilean peso at a single foreign exchange rate Ch$0.2113 per COP as of June 30, 2019. of Ch$0.2113 per COP as of June 30, 2019. In the second quarter of 2019, the loan portfolio write-off totaled Ch$23.6 billion, In the second quarter of 2019, NPL Creation reached Ch$29.4 billion up a 20.4% increase compared to the previous quarter. The ratio of written-off 17.6% compared to the previous period. operations to loan portfolio average balance reached 1.99%, 30 basis points increase compared to the first quarter of 2019. Recovery of Loans Written-off as Losses NPL Creation Coverage Ch$ million Note: Recovery of loans written-off as losses for Colombia is expressed in constant currency in order to eliminate the impact of the foreign exchange rate variation, thus all In the second quarter of 2019, total NPL Creation coverage reached 73%, figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate of Ch$0.2113 per COP as of June 30, 2019. down compared to the previous quarter. This means that the provision for loan losses in the quarter was lower than NPL Creation. The trend shown since 4Q16 reflects that our portfolio is still more concentrated in wholesale In this quarter, income from recovery of loans written-off as losses increased Ch$1.4 loans where we anticipate the provision compared to overdue loans. billion, or 43.6% from the previous quarter. In the second quarter of 2019, the income from recovery of loans written-off as losses increased by Ch$2.3 billion or 105.9% compared to the same period of the previous year. Corpbanca Itaú

Management Discussion & Analysis Income Statement Analysis Non-interest Expenses Highlights · Non-interest expenses amounted to Ch$44.8 billion in the quarter, a 4.4% increase from the previous quarter on the back of higher amortization and depreciation and a 0.9% decrease the second quarter of 2019 due to lower administrative expenses. In Ch$ million 2Q19 1Q19 change 2Q18 change 6M19 6M18 change Personnel expenses (22,164) (22,179) 15 -0.1% (21,506) (657) 3.1% (44,343) (42,937) (1,406) 3.3% Administrative expenses (17,355) (17,520) 165 -0.9% (21,233) 3,878 -18.3% (34,875) (41,443) 6,568 -15.8% Personnel and Administrative Expenses (39,519) (39,699) 180 -0.5% (42,739) 3,220 -7.5% (79,218) (84,380) 5,162 -6.1% Depreciation, amortization and impairment (5,293) (3,210) (2,083) 64.9% (2,460) (2,832) 115.1% (8,502) (4,791) (3,711) 77.4% Total Non-interest Expenses (44,811) (42,909) (1,903) 4.4% (45,199) 388 -0.9% (87,720) (89,171) 1,451 -1.6% Note: Managerial results for Colombia are expressed in constant currency in order to eliminate the impact of the foreign exchange r ate variation, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate: Ch$0.2113 per COP as of June 30, 2019. Personnel Expenses Depreciation and Amortization Personnel expenses reached Ch$22.2 billion in the second quarter of 2019, Depreciation, amortization and impairment expenses totaled Ch$5.3 billion a 0.1% decrease when compared to the previous quarter. Compared to the in the second quarter of 2019, a 64.9% increase when compared to the first second quarter of 2018, there is a 3.1% increase in expenses. quarter of 2019. When compared to the second quarter of 2018, there was an 115.1% increase, explained primarily by the investment made in development of software and systems which increased the base of intangibles on our balance sheet. Administrative Expenses Administrative expenses amounted to Ch$17.4 billion in the second quarter of 2019, a 0.9% decrease when compared to the previous quarter on the back of lower general expenses. When compared to second quarter of 2018, there was a 18.3% decrease in expenses primarily due to lower tax expenses and third-party services. Headcount 3,430 Headcount in Colombia and Panamá at the end of the 2Q19 —1.6% (2Q19/1Q19) —2.9% (2Q19/2Q18) The total number of employees including Itaú (Panama) was 3,430 at the end of the second quarter of 2019 compared to 3,485 in the first quarter of 2019 and 3,533 at the end of the second quarter of 2018, a 2.9% reduction in headcount for a 12-month period ended June 30, 2019. Itaú Corpbanca 39

Management Discussion & Analysis Income Statement Analysis Efficiency Ratio and Risk-Adjusted Efficiency Ratio We present the efficiency ratio and the risk-adjusted efficiency ratio, which includes the result from loan losses. Note: Managerial results for Colombia are expressed in constant currency in order to eliminate the impact of the foreign exchange rate variation, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate: Ch$0.2113 per COP as of June 30, 2019. Risk-Adjusted Non-interest Expenses (Personnel + Administrative + Depreciation & Amortization + Impairment) Efficiency Ratio = Managerial Financial Margin + Commissions and Fees + Cost of Credit Efficiency Ratio Risk-Adjusted Efficiency Ratio In the second quarter of 2019, our efficiency ratio reached 54.3%, a deteriora- The risk-adjusted efficiency ratio, which also includes the cost of credit, tion of 390 basis points when compared to the first quarter of 2019. This was reached 66.8% in the second quarter of 2019, an improvement of 4.5 percen-mainly due to lower operating revenues due to lower financial margin as well as tage points, compared to the previous quarter as a result of lower cost of higher non-interest expenses. credit which was partly offset by lower operating revenues and higher non- interest expenses in the period as previously mentioned in this report. When compared to the second quarter of 2018, the efficiency ratio improved 3.1 percentage points, explained by an increase in operating revenues on the When compared to the second quarter of 2018, the risk-adjusted efficiency back of higher financial margin and fees as well as lower non-interest expen- ratio improved by 29.3 percentage points due a 51.4% reduction in cost of ses. credit and a 4.7% increase in operating revenues. Net Operating Profit Before Loan Losses Distribution The chart below shows the portions of net operating profit before loan losses used to cover operating expenses and result fro m loan losses. Itaú Corpbanca 40

Management Discussion & Analysis Income Statement Analysis Distribution Network Points of Service in Colombia Automated Teller Machines (ATMs) | Colombia Our distribution network provides integrated financial services and By the end of the second quarter of 2019, the number of ATMs totaled products to our customers through diverse channels, including ATMs, 169 in Colombia, 1.7% lower compared to the first the quarter of 2019. branch offices, internet banking and telephone banking . Additionally, our customers had access to over 16,190 ATMs in Colombia through Colombia’s financial institutions. Branches | Colombia and Panama As of June 30, 2019 we had 157 branches in both Colombia and Panama under the brand “Itaú”, 4 branches or 2.5% less compared to the previous quarter , totaling 15 branches or 8.7% lower since the commencement of the integration process in the second quarter of 2017. The process began in May 2017 with the introduction of the “Itaú” brand in the retail market which was completed after the rebranding of the Helm’s branch network. By the third quarter of 2017 we started the branch network migration with a pilot test. The process continued with 77% braches migrated by fourth quarter 2017 and it was fully completed in January 2018, earlier than expected. Itaú Corpbanca 41

Management Discussion & Analysis Balance Sheet Credit Portfolio Highlight · Excluding the effect of the foreign exchange variation, at the end of the second quarter of 2019, the Colombian portfolio increased 1.2% and reached Ch$4.74 trillion when compared to the previous quarter and increased 1.8% during the 12-month period ended June 30, 2019. Credit Portfolio by Products In the following table, the loan portfolio is split into two groups: wholesale lending and retail lending. For a better under standing of the performance of these portfolios, the main product groups of each segment are presented below: In Ch$ million, end of period 2Q19 1Q19 change 2Q18 change Wholesale lending 3,263,634 3,214,246 1.5% 3,177,692 2.7% Commercial loans 2,772,023 2,741,498 1.1% 2,696,776 2.8% Current account overdrafts 14,988 14,449 3.7% 23,357 -35.8% Leasing and factoring 449,412 445,907 0.8% 445,585 0.9% Other loans and receivables 27,211 12,392 119.6% 11,975 127.2% Retail lending 1,477,807 1,471,447 0.4% 1,481,518 -0.3% Residential Mortgage loans 606,117 594,382 2.0% 560,773 8.1% Housing leasing 311,877 308,458 1.1% 300,332 3.8% Other mortgage loans 294,240 285,924 2.9% 260,441 13.0% Consumer loans 871,690 877,065 -0.6% 920,744 -5.3% Consumer loans payments 697,415 703,159 -0.8% 746,684 -6.6% Current account overdrafts 2,783 2,763 0.7% 3,123 -10.9% Credit card debtors 120,805 118,291 2.1% 105,128 14.9% Leasing consumer 3,834 4,588 -16.4% 8,017 -52.2% Other loans and receivables 46,853 48,263 -2.9% 57,791 -18.9% TOTAL LOANS 4,741,441 4,685,693 1.2% 4,659,209 1.8% Note: The loan portfolio for Colombia is expressed in constant currency in order to eliminate the impact of the foreign exchange ra te variation, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate of Ch$0.2113 per COP as of June 30 , 2019. After the fifth consecutive quarter of a positive contribution in results, the main The expected positive impact of the recent the tax reform (affecting capital challenge now for our Colombian operation is to resume the expansion of our costs) on investment drives the optimism. We note that the challenges in 2020 portfolio and business volumes. and beyond are considerable and debt stabilization will be difficult without reforms. In terms of wholesale lending, the loan portfolio increased 1.5% in the second quarter of 2019, totaling Ch$3.26 trillion. As expected, the board of the Central Bank of Colombia kept the interest rate at 4.25% in June, but we observed a handful of dovish signs. One indication Our retail loan portfolio reached Ch$1.48 trillion at the end of the second was that the reference of the current 4.25% rate being “slightly expansionary” quarter of 2019, an increase of 0.4% compared to the previous quarter. was removed, while another was that the board now expressed uncertainty Residential mortgage loans reached Ch$606.1 billion at the end of the second over the size of the output gap and the speed that it would narrow (previously quarter of 2019, an increase of 2.0% compared to the previous quarter and of there was only doubt on the latter). 8.1% compared to the 12-month period ended June 30, 2019. On the other hand, consumer loans reached Ch$871.7 billion, down 0.6% compared the Meanwhile, a road blockage from the collapse of a highway bridge is likely to previous quarter and 5.3% compared to the 12-month period ended June 30, transitorily raise inflationary pressures (we now see yearend inflation at 3.4%, 2019. versus 3.2% previously), with convergence to the 3% target next year expected to be aided by broadly anchored inflation expectations and limited The Colombian government currently estimates a GDP growth of 3.6% for 2019 (3.4% in 2018 update; Itaú: 2.6%), while an acceleration to 4% next year demand pressures. Overall, a widening output gap and controlled inflation is predicted (3.6% previously; Itaú: 2.8%). could lead the central bank to cut rates later this year (to 3.5% by 1H2020). Itaú Corpbanca 42

Management Discussion & Analysis Balance Sheet Balance Sheet Assets In Ch$ million, end of period 2Q19 1Q19 change 2Q18 change Cash and deposits in banks 1,186,569 852,518 39.2% 1,036,516 14.5% Cash items in process of collection 553,067 569,204 -2.8% 644,703 -14.2% Trading investments 201,677 222,802 -9.5% 37,554 437.0% Investments under resale agreements 163,152 30,234 439.6% 118,108 38.1% Financial derivatives contracts 2,050,191 1,309,222 56.6% 1,223,978 67.5% Interbank loans, net 111,551 309,263 -63.9% 111,259 0.3% Loans and accounts receivable from customers, net of loan loss allowances 21,383,453 20,973,104 2.0% 20,452,875 4.5% Available-for-sale investments 2,662,534 2,393,890 11.2% 2,929,029 -9.1% Held-to-maturity investments 201,547 211,097 -4.5% 282,366 -28.6% Investments in associates and other companies 9,724 9,769 -0.5% 10,782 -9.8% Intangible assets1 1,595,390 1,607,493 -0.8% 1,637,750 -2.6% Property, plan and equipment 253,593 257,607 -1.6% 124,527 103.6% Current taxes 130,371 125,921 3.5% 143,582 -9.2% Deferred taxes 158,760 162,589 -2.4% 165,529 -4.1% Other assets 501,693 522,099 -3.9% 412,280 21.7% Total Assets 31,163,272 29,556,812 5.4% 29,330,838 6.2% 1– Includes right-of-use assets under lease agreements arisen from IFRS 16 adoption since January 1, 2019. At the end of the second quarter of 2019, our assets totaled Ch$31.2 trillion, an Compared to the previous year, total assets increased by Ch$1,832.4 billion or increase of Ch$1,606.5 billion or 5.4% from the previous quarter mainly driven by 6.2%. The main changes are presented below: higher derivatives and repos, and loans as presented below: Ch$ billion Ch$ billion * Securities Investment portfolio: Trading investments, available-for-sale investments, held-to-maturity investments. ** Total other assets: Cash and deposits in banks, investments under resale agreements, financial derivatives contracts, investments in associates and other companies, intangible assets, property, plant and equipment, current taxes, deferred taxes and other assets. Chile and Colombia Asset Breakdown The chart below shows the contribution of Chile and Colombia to the total June 30, 2019 consolidated assets. Ch$ 31.2 billion Ch$ 24.5 billion Ch$ 6.7 billion 5.4% (vs. Mar-19) 6.4% (Jun-19 vs. Mar-19) 1.9% (Jun-19 vs. Mar-19) 6.2% (vs. Jun-18) 8.7% (Jun-19 vs. Jun-18) 1.9% (Jun-19 vs. Jun-18) Ch$ billion Itaú Corpbanca 43

Management Discussion & Analysis Balance Sheet Liabilities In Ch$ million, end of period 2Q19 1Q19 change 2Q18 change Deposits and other demand liabilities 4,416,783 4,341,345 1.7% 4,148,966 6.5% Cash items in process of being cleared 469,500 518,443 -9.4% 600,372 -21.8% Obligations sold under repurchase agreements 936,159 706,299 32.5% 1,008,074 -7.1% Time deposits and other time liabilities 10,167,374 9,966,450 2.0% 9,888,226 2.8% Financial derivatives contracts 1,813,994 1,088,654 66.6% 1,047,276 73.2% Interbank borrowings 2,284,729 2,277,389 0.3% 2,346,109 -2.6% Issued debt instruments 6,572,404 6,305,812 4.2% 6,021,007 9.2% Other financial liabilities 11,957 10,764 11.1% 10,885 9.8% Current taxes — 1,418 — 643—Deferred taxes 2,639 617 327.7% 888 197.2% Provisions 181,830 163,391 11.3% 207,464 -12.4% Other liabilities1 701,538 611,951 14.6% 553,382 26.8% Total Liabilities 27,558,907 25,992,533 6.0% 25,833,292 6.7% Attributable to Shareholders 3,377,074 3,338,116 1.2% 3,270,559 3.3% Non-controlling interest 227,291 226,163 0.5% 226,987 0.1% Total Equity and Liabilities 31,163,272 29,556,812 5.4% 29,330,838 6.2% 1– Includes lease liabilities arisen from IFRS 16 adoption since January1, 2019. The main changes in liabilities at the end of the second quarter of 2019, Compared to the previous year, the main changes in liabilities are highlighted as: compared to the previous quarter, are presented in the chart below : follows: Ch$ billion Ch$ billion * Total other liabilities: Financial derivatives contracts, deposits and other demand liabilities, other financial liabilities, current taxes, deferred taxes, provisions, other liabilities (including lease liabilities arising from IFRS 16 adoption since January 2019), capital, reserves, valuation adjustment, income for the period, minus: provision for mandatory dividend and non-controlling interest. Corpbanca Itaú 44

Management Discussion & Analysis Balance Sheet by Currency Balance Sheet by Currency Assets | June 30, 2019 Business in Business in In Ch$ million, end of period Consolidated* Ch$ UF FX Chile Colombia Cash and deposits in banks 1,186,569 490,140 210,177 — 279,963 696,429 Cash items in process of collection 553,067 551,309 287,225 — 264,084 1,758 Trading investments 201,677 105,043 105,043 — — 96,634 Investments under resale agreements 163,152 15,067 15,067 — — 148,085 Financial derivatives contracts 2,050,191 1,951,628 1,333,587 218,083 399,958 98,563 Interbank loans, net 111,551 71,530 (85) — 71,615 40,021 Loans and accounts receivable from customers, net of loan loss 21,383,453 16,898,491 5,643,222 8,302,115 2,953,154 4,484,962 allowances Available-for-sale investments 2,662,534 1,993,548 1,441,019 475,168 77,361 668,986 Held-to-maturity investments 201,547 134,739 — — 134,739 66,808 Investments in associates other companies 9,724 6,234 6,234 — — 3,490 Intangible assets 1,595,390 1,426,318 1,425,152 — 1,166 169,072 Property, plant and equipment 253,593 240,630 240,183 — 447 12,963 Current taxes 130,371 69,840 69,416 — 424 60,531 Deferred taxes 158,760 158,450 142,387 — 16,063 310 Other assets 501,693 403,703 224,125 28,049 151,529 97,990 Total Assets 31,163,272 24,489,517 10,972,957 9,158,505 4,358,055 6,673,755 Liabilities | June 30, 2019 Business in Business in In Ch$ million, end of period Consolidated* Ch$ UF FX Chile Colombia Deposits and other demand liabilities 4,416,783 2,562,976 2,095,790 3,353 463,833 1,853,807 Cash items in process of being cleared 469,500 469,500 243,956 — 225,544 — Obligations sold under repurchase agreements 936,159 365,036 363,878 — 1,158 571,123 Time deposits and other time liabilities 10,167,374 8,058,166 6,807,010 437,785 813,371 2,109,208 Financial derivatives contracts 1,813,994 1,726,645 1,073,655 266,538 386,452 87,349 Interbank borrowings 2,284,729 1,653,985 180,025 — 1,473,960 630,744 Issued debt instruments 6,572,404 5,963,219 598,182 4,850,083 514,954 609,185 Other financial liabilities 11,957 11,957 11,947 10 — — Current taxes — (253) (253) — — 253 Deferred taxes 2,639 13 (293) — 306 2,626 Provisions 181,830 110,661 104,065 — 6,596 71,169 Other liabilities 701,538 653,254 457,150 117,323 78,781 48,284 Total Liabilities 27,558,907 21,550,383 11,766,979 5,811,170 3,972,234 6,008,524 Capital 1,862,826 1,779,076 1,779,076 — — 83,750 Reserves 1,290,131 652,500 652,500 — — 637,631 Valuation adjustment 11,175 558 558 — — 10,617 Retained Earnings: 212,942 Retained earnings or prior years 156,342 232,713 232,713 — — (76,371) Income for the period 80,857 63,551 (48,507) 109,200 2,858 17,306 Minus: Provision for mandatory dividend (24,257) (15,612) (15,612) — — (8,645) Equity attributable to shareholders 3,377,074 2,712,786 2,600,728 109,200 2,858 664,288 Non-controlling interest 227,291 226,348 226,348 — — 943 Total Equity 3,604,365 2,939,134 2,827,076 109,200 2,858 665,231 Total Liabilities and Equity 31,163,272 24,489,517 14,594,055 5,920,370 3,975,092 6,673,755 * Consolidated data not only considers Chile and Colombia but also adjustments related to intercompany and minority shareholder s. Itaú Corpbanca 45

Management Discussion & Analysis Balance Sheet Credit Portfolio Highlights · By the end of the second quarter of 2019, our total credit portfolio reached Ch$22.1 trillion, increasing 1.9% from the previous quarter and 4.4% from the same period of the previous year. The increase was driven by higher wholesale and retail lending in Chile. · In constant currency, total loans in Colombia increased 1.2% in the second quarter of 2019 and increased 1.8% in the 12-month period ended June 30, 2019. The increase in 2Q19 was mainly driven by a 1.5% wholesale lending increase in the period as well as higher mortgage loans. (See details on page 42) In Ch$ million, end of period 2Q19 1Q19 change 2Q18 change Wholesale lending 14,793,619 14,506,392 2.0% 14,154,667 4.5% Chile 11,529,985 11,251,074 2.5% 10,798,014 6.8% Commercial loans 9,897,268 9,624,539 2.8% 9,400,429 5.3% Foreign trade loans 939,648 932,554 0.8% 799,908 17.5% Leasing and Factoring 693,069 693,981 -0.1% 597,677 16.0% Colombia 3,263,634 3,255,318 0.3% 3,356,653 -2.8% Commercial loans 2,814,222 2,803,713 0.4% 2,885,974 -2.5% Leasing and Factoring 449,412 451,605 -0.5% 470,679 -4.5% Retail lending 7,264,419 7,142,250 1.7% 6,981,092 4.1% Chile 5,786,612 5,652,001 2.4% 5,416,138 6.8% Consumer loans 1,845,791 1,791,606 3.0% 1,642,835 12.4% Residential mortgage loans 3,940,821 3,860,395 2.1% 3,773,303 4.4% Colombia 1,477,807 1,490,249 -0.8% 1,564,954 -5.6% Consumer loans 871,690 888,272 -1.9% 972,599 -10.4% Residential mortgage loans 606,117 601,977 0.7% 592,355 2.3% TOTAL LOANS 22,058,038 21,648,642 1.9% 21,135,759 4.4% Chile 17,316,597 16,903,075 2.4% 16,214,152 6.8% Colombia 4,741,441 4,745,567 -0.1% 4,921,607 -3.7% Breakdown — Portfolio Loan Credit Portfolio—Currency Breakdown Ch$ billion As of June 30, 2019, Ch$7,707 billion of our total credit portfolio was denominated in, or indexed to, foreign currencies. This portion increased 0.9% in this quarter, mainly due to the 2.5% nominal increase in our US dollar denominated or U.S. dollar indexed credit portfolio –which represents 38% of our total foreign currency loans. In the 2Q19, US dollar variation was 4.3% or Ch$29 per dollar. Itaú Corpbanca 46

Management Discussion & Analysis Balance Sheet NPL Ratio (90 days overdue) by segment By the end of the second quarter of 2019, our total consolidated NPL ratio for operations 90 days overdue reached 2.17%, a decrease of 2 basis points from the previous quarter and of 13 basis points from the same period of 2018. The NPL ratio increased by 3 basis points for commercial loans from 2.25% to 2.28% compared to the previous quarter. When excluding the student loans, the commercial loans NPL ratio reached 1.93%, stable compared to first quarter of 2018. The NPL ratio for mortgage loans decreased by 9 basis points from 2.12% to 2.03% and consumer loans decreased by 20 basis points from 1.97% to 1.77%, in the quarter. Tangible Equity Breakdown The chart below shows the calculation of the average tangible Shareholders Equity or “Managerial Equity” which we use to determine the RoTAE. 2Q19 Average Balance (Ch$ billion) Itaú Corpbanca 47

Management Discussion & Analysis Balance Sheet Funding Highlights · Total funding, including interbank deposits, amounted to Ch$24.4 trillion by the end of the second quarter of 2019, a 3.3% increase compared to the previous quarter accordingly to the total assets evolution in the period. · Our funding strategy is to optimize all sources of funding in accordance with their costs, their availability, and our general asset and liability management strategy. Our funding strategy for the period of time covered by this report has changed as we sought longer tenor maturity and diversification. · In this context, Itaú Corpbanca successfully placed US$821 million senior bonds in the local market in the 12-month period ended June 30, 2019. The latter compares with US$1,546 million and US$573 million issuances for full years 2017 and 2018. Our strategy in terms of bond issuances is to seek for longer maturity tenor and maintaining comfortable liquidity levels under BIS III standards. In addition, the spreads obtained on these issuances have allowed for an improvement in the cost of funds. The tenors of the bonds issued during the last 12-month period are set forth in the chart below. In Ch$ million, end of period 2Q19 1Q19 change 2Q18 change Deposits and other demand liabilities 4,416,783 4,341,345 1.7% 4,148,966 6.5% Time deposits and saving accounts 10,167,374 9,966,450 2.0% 9,888,226 2.8% Investments sold under repurchase agreements 936,159 706,299 32.5% 1,008,074 -7.1% Letters of credit 46,975 49,814 -5.7% 60,326 -22.1% Bonds 5,471,457 5,217,263 4.9% 4,900,639 11.6% Subordinated bonds 1,053,972 1,038,735 1.5% 1,060,042 -0.6% Interbank borrowings 2,284,729 2,277,389 0.3% 2,346,109 -2.6% Other financial liabilities 11,957 10,764 11.1% 10,885 9.8% Total Funding 24,389,406 23,608,059 3.3% 23,423,267 4.1% Our strategy of diversification also includes two syndicated loans, one for US$465 million maturing in April 2020 and a US$200 million AB Loan led by IFC (a 5-year tenor for the A Loan, maturing in December 2020, and a 3-year tenor for the B Loan, already due in December 2018). Bonds in CLP & UF (expressed in USD mn) Itaú Corpbanca 48

Management Discussion & Analysis Risk and Capital Management Risk and Capital Management We believe risk management is an essential tool to optimize the use of resources and select the best business opportunities to maximize value creation for shareholders. In this context, the risk appetite defines the nature and the level of risks acceptable and the risk culture guides the attitudes required to manage them. The bank has established a risk and capital commission to assist our board and management in its assessment and management of market and liquidity risks, P&L, and capital adequacy, in accordance to both economic principles and the rules set forth by local regulation and those of Basel I, II, and III. These principles and rules are applied to provide oversight and management of market and liquidity risks, P&L, and economic capital principles, to review the effectiveness of those related policies and limits and to review the adherence to market and. liquidity risk and capital policies and procedures throughout the bank. We take a prospective stance in relation to capital management and, through our internal capital adequacy assessment process, we assess the adequacy of our capital to face the incurred risks, composed by credit, market, operational and other material risks. Our risk management process includes: · Identification and measurement of exis-· Alignment of institutional policies for risk · Management of our portfolio seeking ting and potential risks in our operations. management control, procedures and optimal risk-return ratios. methodologies according to the guidelines of the Board of Directors and our corporate strategies. Liquidity Ratios Highlights · In line with international risk management practices, we use the Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) to manage liquidity risk. · The methodology used to estimate LCR and NSFR consists of liquidity ratios proposed by the “Basel III Committee on Banking Supervision” (“BIS III”) that were adopted by the CMF and the Brazilian Central Bank (BACEN). Liquidity Coverage Ratio (LCR) In Ch$ million 2Q19 1Q19 In Ch$ million 2Q19 1Q19 High Quality Liquid Assets 2,064,824 1,537,679 High Quality Liquid Assets 478,040 739,314 Potential Cash Outflows 3,507,247 3,158,712 Potential Cash Outflows 1,041,683 1,034,895 LCR (%) 122.2% 124.9% LCR (%) 170.0% 123.5% Note: Figures for Colombia are expressed in constant currency, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate: Ch$0.2113 per COP as of June 30, 2019. Starting in April 2019, Chilean banks began reporting their local LCR figures with a minimum level set by CMF at 60%.This minimum will gradually rise to 100% by 2023. On the other hand, BACEN establishes a limit of 100% for LCR. Accordingly, our internal minimum limit for LCR set by our board of directors is 100%. Net Stable Funding Ratio (NSFR) In Ch$ million 2Q19 1Q19 In Ch$ million 2Q19 1Q19 Available Stable Funding 14,347,277 14,211,825 Available Stable Funding 3,792,374 3,675,461 Required Stable Funding 15,655,821 15,515,928 Required Stable Funding 4,339,645 4,173,964 NSFR (%) 91.6% 91.6% NSFR (%) 87.4% 88.1% Note: Figures for Colombia are expressed in constant currency, thus all figures from each of the periods analyzed were converted into Chilean peso at a single foreign exchange rate: Ch$0.2113 per COP as of June 30, 2019. Only BACEN set a limit for NSFR. This limit is currently set at 85%. Accordingly, our internal minimum limit for NSFR set by the board of directors is 85%. Note: Data for Chile includes our New York branch and data for Colombia includes its subsidiary in Panama. Itaú Corpbanca 49

Management Discussion & Analysis Risk and Capital Management Capital Highlight · At the end of second quarter of 2019 our regulatory capital ratio reached 14.48%, an increase of 16 basis points when compared to the fi rst quarter of 2019. Minimum Capital Requirement Our minimum capital requirements are set by the Comisión para el Mercado Financiero (CMF) which follows the Chilean banking law capital requirements. On January 12, 2019 a new banking law was enacted for purposes of adopting Basel III and replaced the SBIF with CMF. Once the CMF replaced the SBIF, effective as of June 1, 2019, within 18 months from this date, the CMF will issue a regulatio n for several key definitions for the whole impacts of the implementation to be known, such as the exact capital deductions to be taken from regula tory capital, specific buffer sizes, possible changes in credit RWA density as well as the definitive models for market and operational risk, and th e general implementation phase-in period. Currently, our minimum capital requirement is expressed as a ratio of regulatory capital —stated by the referential equity or total capital, composed of Tier I capital and Tier II capital— and the risk-weighted assets, or RWA. Our minimum total capital requirement corresponds t o 10.0%. Itaú Corpbanca targets an optimal capital ratio based on the greater of 120% of the minimum regulatory capital requirement or the average regulatory capital ratio of the three largest private banks in Chile and Colombia. As of April 30, 2019, the last public information published by the CMF, the average regulatory capital ratio of the three lar gest private banks in Chile was 13.1%. Solvency Ratios In Ch$ millions, end of period 2Q19 1Q19 Core capital 1 3,377,074 3,338,117 (-) Goodwill (1,175,348) (1,178,346) (+) Subordinated debt 1,015,260 999,394 (+) Additional provisions 6,743 6,743 (+) Minority interest 227,292 226,164 = Regulatory capital (Core capital + Tier II capital) 3,451,021 3,392,072 Risk-Weighted assets (RWA) 23,838,899 23,685,434 (%) BIS (Regulatory capital / Risk-weighted assets) 2 14.48% 14.32% Ratios Core capital ratio 1 (ex-goodwill) 9.24% 9.12% Note: (1) Core Capital = Capital básico according to CMF current definitions; (2) BIS Ratio = Regulatory capital / RWA, according to CMF current definitions . Main changes in the quarter The 16 basis points increase from 14.32% to 14.48% was due to an increase in our core capital due to higher net income and higher subordinated bonds –driven by positive exchange rates (UF and COP) – in the period. These positive effects were partly offset by a decrease in risk weighted assets (RWA) explained by a loan growth in all three segments commercial, mortgage and consumer) in the second quarter of 2019. Itaú Corpbanca 50

Additional Information Management Discussion & Analysis

(This page was intentionally left blank) Itaú Corpbanca 52

Management Discussion & Analysis Our Shares Our Shares Average daily traded volumes 12-month period Market Capitalization ended June 30, 2019 (US$ million) Itaú CorpBanca capital stock is comprised of 512,406,760,091 common shares traded on the Ch$2.9 trillion | US$4.3 billion Santiago Stock Exchange (ITAUCORP). Shares are also traded as American Depositary Receipts Sell-side ratings (“ADR”) on the New York Stock Exchange (ITCB). 1 6 0 Buy Hold Sell Source: Sell-side reports. Corporate Structure Chart As of June 30, 2019 shareholders structure was as follows: Strengths of our structure · Itaú Corpbanca is controlled by Itaú Unibanco. · Itaú Unibanco and the Saieh Family appoint the majority of the board of directors. · Pursuant to the Shareholders Agreement, the directors appointed by Itaú Unibanco and the Saieh Family shall vote together as a single block according to Itaú Unibanco recommendation. · Professional and experienced management team. Performance in the Capital Markets Dividends ITAUCORP ITCB Dividend policy approved by shareholders in March 2017 in the Annual Share-Price and Volume (Common shares) (ADR) holders Meeting is to distribute a final dividend of 100% of the annual net Ch$ US$ income net of the necessary reserves to comply with capital ratios de- Closing Price at 06/30/2019 5.66 12.50 fined as “Optimal Regulatory Capital” in the “Shareholders Agreement” whose terms are part of the “Transaction Agreement” executed on January Maximum price in the quarter 6.05 13.60 29, 2014. Average Price in the quarter 5.75 12.56 Minimum price in the quarter 5.44 11.45 Itaú Corpbanca paid its last annual dividend of Ch$0.100728627 / share in Closing Price at 03/31/2019 6.00 12.98 Chile on March 19, 2019. The dividend payout ratio was 30% of 2018 Net Closing Price at 06/30/2018 6.39 14.85 Income, equivalent to a dividend yield of 1.64%. For purposes of capital re-Change in 2Q’19 -5.70% -3.67% quirements, annual dividends are provisioned at 30%. Change in LTM -11.40% -15.82% The following table shows dividends per share distributed during the past five Average daily trading volume LTM (million) 2,070.39 0.20 years: Average daily trading volume in 2Q’19 (million) 1,424.38 0.05 Charge to Year Net Income % Dividend per Company Fiscal Year paid (Ch$ mn) Distributed Share (Ch$) Shareholder Base and Ratios 2Q19 1Q19 2Q18 Banco Itaú Chile 2014 2015 85,693 31% 18,447.50 Corpbanca 2014 2015 226,260 50% 0.33238491 Number of outstanding shares (million) 512,406.8 512,406.8 512,406.8 Retained Recurring Diluted Earnings per share in the quarter (Ch$) 0.12 0.07 0.13 Corpbanca Earnings 2015 239,860 100% 0.70472815 Accounting Diluted Earnings per share in the quarter (Ch$) 0.10 0.06 0.11 2015 Banco Itaú Chile 2016 104,336 50% 36,387.38 Recurring Diluted Earnings per ADR in the quarter (US$) 0.26 0.15 0.29 Corpbanca 2015 2016 201,771 50% 0.29640983 Accounting Diluted Earnings per ADR in the quarter (US$) 0.23 0.12 0.26 Corpbanca 2015 2016 201,771 UF 124,105 0.00939188 Book value per share in the quarter (Ch$) 6.59 6.51 6.38 Itaú Corpbanca 2016 2017 2,059 30% 0.001205475 Price* / Earnings (P/E) 13.78 27.21 14.12 Itaú Corpbanca 2017 2018 57,447 40% 0.044844689 Price*/ Tangible Book Value (P/B) 0.86 0.92 1.00 2018 2019 172,047 30% 0.100728627 Itaú Corpbanca * Closing price on the last trading day of each period. Itaú Corpbanca 53

Management Discussion & Analysis Ratings Credit Risk Ratings International Credit Risk Rating On a global scale, Itaú Corpbanca is rated by two worldwide recognized agencies: Moody´s Investors Service (‘Moody’s’) and Standard & Poor´s Global Ratings (‘Standard & Poor’s’ or ‘S&P’). On July 27, 2018, Moody’s affirmed ‘A3/Prime-2’ ratings following the downgrade of Chile’s sovereign rating to ‘A1’ from ‘Aa3’, which reflected the government’s lower capacity to provide financial support to the country’s banks. Although the government’s capacity to provide support has decreased slightly, it remains very strong. Consequently, the bank’s long-term ratings continue to benefit from two notches of uplift from its ‘baa2’ adjusted baseline credit assessment. Itaú Corpbanca’s ‘A3’ ratings reflect the bank’s conservative risk management, and improving business prospects in Chile and Colombia (‘Baa2/Negative’), which will support the stabilization of asset quality and profitability following two years of below-peer-average performance. However, our ratings will remain constrained by low capitalization and could face downward pressure if our ongoing retail strategy implementation does not lead to higher profitability and lower dependence on wholesale funding. Following a substantial improvement in its net income/tangible banking assets, we expect Itaú Corpbanca’s profitability to benefit from loan growth and lower funding costs, which will boost its already solid 3% net interest margin, despite still-high credit costs. Itaú Corpbanca’s funding strategy, however, may take time to materialize. The Outlook is ‘Stable’ reflecting our conservative risk management and improving business prospects in Chile and Colombia, which will support the stabilization in asset quality and profitability following two years of below-peer-average performance. Moody´s Rating Long term Counterparty Risk Rating (CRR) A2 Long-term foreign currency deposits A3 Long-term foreign currency debt A3 Short-term foreign currency deposits Prime-2 Outlook Stable On May 28, 2019, Standard & Poor´s affirmed our ‘BBB+/A-2’ ratings. The outlook is ‘Stable’ reflecting the reduction of non-recurring events and credit provision expenses that reinforce our expectation of improving financial results in the next 24 months. On the other hand, further industry consolidation in Chile, low inflation, and choppy economic activity are the main barriers to higher profitability. S&P expects the bank’s capital indicators to remain the major weakness given the high goodwill burden following the merger between Corpbanca and Itaú Chile. Our ratings continue to overhaul our business model by expanding the platforms, products, and segmentation of Itaú Unibanco in the retail segment; while focusing on the core portfolio in the wholesale segment and increase non-interest related revenue (such as cash management). Although the bank has lost some market share in the last few years as a result of readjusting its commercial portfolio, loan origination started to grow in 2018. This growth, together with the stabilization of the non-recurring effects and the decrease in provision expenses, has generated in 2018 the strongest profit in the last three years (return to assets of around 0.9% excluding the amortization of intangibles). Additionally, Itaú Corpbanca maintains a solid level of regulatory capital of 14.3%, which is above the industry average. Furthermore, the bank has wide access to funding and maintains adequate levels of liquidity. Since the merger, the bank’s assets and liabilities management strategy has been adjusting funding costs, while seeking to extend its maturity dates, and diversifying the funding structure. Itaú Corpbanca Standard & Poor´s Rating Long-term issuer credit rating BBB+ Senior unsecured bonds BBB+ Short-term issuer credit rating A-2 Outlook Stable Local Credit Risk Rating On a national scale, Itaú Corpbanca is rated by Feller Rate Clasificadora de Riesgo Ltda. (‘Feller Rate’) and by Clasificadora de Riesgo Humphreys Ltda. (‘Humphreys’). On March 29, 2019, Feller Rate affirmed local ratings in ‘AA’ and Outlook as ‘Positive’. Itaú Corpbanca’s ratings reflect a strong business profile, a strong risk profile, an adequate capital and liquidity position and a moderate generation capacity. The ‘Positive’ outlook reflects the sound trend on generation capacity, with growing results derived from a greater commercial activity and controlled provisions for loan losses. To the extent that the implementation of the strategy, the completion of the merger process and higher levels of activity allow the bank to consolidate profitability –and consistently achieving results in line with the average of the banking industry– with a healthy credit quality, ratings should be upgraded. Feller Rate Rating Long-term issuer credit rating AA Senior unsecured bonds AA Letter of credit AA Long-term deposits AA Subordinated bonds AA- Short-term deposits Nivel 1+ Shares 1ª Clase Nivel 1 Outlook Positive On May 30, 2019, Humphreys assigned a ‘AA/Nivel 1+’ rating to our long-term and short term debt, respectively, and a ‘Positive’ outlook reflecting Humphreys expectation that the bank strategy is positively impacting credit quality and will benefit profitability levels. Our ratings mainly reflect our capacity to develop a business model and an organizational structure based on solid formal control to monitor credit, market and operational risks. The strength of the control environment lies in the bank’s internal policies, its organizational culture, regulatory requirements and in the know-how of its parent company, Itaú Unibanco. Likewise, ratings positively incorporate the bank being listed in the Santiago Exchange (2002) and in the NYSE (2004). As an SEC-compliance company, Itaú Corpbanca benefits from high corporate governance practices and, broad market disclosure. Likewise, ratings incorporate that current controlling shareholder is a large and experienced financial group within the Latin American with a leading position in the Brazilian market. Humphreys Rating Long-term issuer credit rating AA Senior unsecured bonds AA Letter of credit AA Long-term deposits AA Subordinated bonds AA- Short-term deposits Nivel 1+ Shares 1ª Clase Nivel 1 Outlook Positive 54

CAUTION REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this Report may be considered as 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 recent merger of Banco Itaú Chile with and into Corpbanca, the integration process of both banks, the expected timing of completion of the transaction, 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, including the Tax Reform in Chile. These statements are based on the current expectations of Itaú Corpbanca’ 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 Itaú Corpbanca or its controlling shareholders expect; (4) the business of Itaú Corpbanca may suffer as a result of uncertainty surrounding the merger; (5) the industry may be subject to future regulatory or legislative actions that could adversely affect Itaú Corpbanca; and (6) Itaú Corpbanca 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 Itaú Corpbanca’ 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, 2018, filed with the SEC. Furthermore, any forward-looking statement contained in this Report 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 Report are expressly qualified by this cautionary statement. CONTACT INFORMATION: Gabriel Moura CFO. Itaú Corpbanca Santiago. Chile Phone: (562) 2686-0558 IR@corpbanca.cl Claudia Labbé Head of Investor Relations. Itaú Corpbanca Santiago. Chile Phone: (562) 2660-1751 claudia.labbe@itau.cl Itaú Corpbanca 55