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Filed pursuant to Rule 424(b)(5)
Registration No. 333-257334

CALCULATION OF REGISTRATION FEE

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Filed Pursuant to Rule 424(b)(5)
Registration No. 333-257334

PROSPECTUS SUPPLEMENT
To Prospectus dated June 23, 2021

ITAÚ CORPBANCA

Common Shares (including Common Shares represented by American Depositary Shares)

Rights to Subscribe for Common Shares

We are offering to our shareholders transferable rights to subscribe for 461,111,111,111 new common shares in the Republic of Chile and outside Chile, including common shares represented by American Depositary Shares (“ADSs”). Each ADS represents 1,500 common shares.

This offering is part of a capital increase approved by our shareholders on July 13, 2021 for up to Ch$830,000,000,000 (equivalent to approximately US$1,058,228,041.77 based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021). All of the common shares issued in connection with the capital increase are subject to a statutory preemptive rights offering under Chilean law (the “Statutory Preemptive Rights Offering”) as further described below. See “Rights Offerings—Statutory Preemptive Rights Offering.”

Under Chilean law, in the Statutory Preemptive Rights Offering, each holder of existing common shares is entitled to subscribe for a proportionate share of the new common shares issued in the capital increase (a fraction equal to the 461,111,111,111 new common shares divided by the 512,406,760,091 existing shares, or approximately 0.899892716148 new common shares per existing share expressed as a decimal number). Each common share held of record as of 11:59 p.m. (Santiago, Chile time) on September 28, 2021 entitles its holder to approximately 0.899892716148 of a transferable preemptive right to subscribe for newly issued common shares (a “Preemptive Share Right”). Each full Preemptive Share Right entitles the holder to subscribe for one new common share at a share subscription price of Ch$1.80 (equivalent to approximately US$0.0023, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021) per share, payable in cash in Chilean pesos. One full Preemptive Share Right is required to subscribe for one new common share at the share subscription price. We will only accept subscriptions for whole common shares and will truncate or reduce any subscriptions submitted with respect to fractional rights to the nearest whole number of Preemptive Share Rights that may be exercised.

The dealer managers listed below will provide marketing and solicitation services in connection with the rights offerings, and may also act as placement agents with respect to any common shares that are not subscribed for in the rights offerings to facilitate the placement of those shares. The dealer managers are not acting as underwriters in connection with the rights offerings. The underwriters named in this prospectus supplement may underwrite up to a number of common shares represented by ADSs that are not subscribed for in the rights offerings. However, the underwriters are not obligated to purchase any common shares or ADSs from us on a firm commitment basis unless we and the underwriters determine to enter into a binding agreement after the expiration of the rights offerings. The price per common share in such underwritten offering, if any, will be no less than Ch$1.80 per share. See “Dealer Managers, Placement Agents and Underwriters.”

In connection with the Statutory Preemptive Rights Offering, we will make available to holders of ADSs transferable preemptive rights to subscribe for newly issued ADSs (“Preemptive ADS Rights”) at the rate of approximately 0.899892716148 Preemptive ADS Rights for each ADS held of record at 5:00 p.m. (New York City time) on October 4, 2021(the “Preemptive ADS Rights Offering”), which is a different record date than the record date in the Statutory Preemptive Rights Offering. Each full Preemptive ADS Right entitles the holder to subscribe for one new ADS at a subscription price equal to the U.S. dollar equivalent of Ch$2,700, which is 1,500 times the share subscription price (the applicable “ADS Subscription Price”). One full Preemptive ADS Right is required to subscribe for one new ADS at the ADS Subscription Price. We will only accept subscriptions for whole numbers of new ADSs.

We estimate the ADS Subscription Price will be US$3.44 per ADS, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021. Since the ADS Subscription Price will not be known at the time the Preemptive ADS Rights are exercised, the final applicable ADS Subscription Price will be determined based on the exchange rate assigned by The Bank of New York Mellon, as ADS rights agent (the “ADS Rights Agent”), on or about October 28, 2021 (in the case of Preemptive ADS Rights) and on or about November 12, 2021 (in the case of Additional ADS Rights (defined below)). Holders of Preemptive ADS Rights that wish to subscribe must deposit US$3.79 (the “ADS Deposit Amount”) for each new ADS subscribed for, as described herein. The ADS Deposit Amount includes the estimated ADS Subscription Price plus 10% of such amount to cover (i) currency rate fluctuations to the date on which the ADS Rights Agent converts the Chilean pesos subscription price in connection with the exercise of the Preemptive Share Rights underlying the Preemptive ADS Rights or the exercise of Additional Share Rights (defined below) underlying the Additional ADS Rights, as the case may be and (ii) the fee of The Bank of New York Mellon, as the ADS depositary (the “ADS Depositary”) of US$0.05 per new ADS.

The Statutory Preemptive Rights Offering will commence on October 4, 2021 and will expire at 11:59 p.m. (Santiago, Chile time) on November 2, 2021. The Preemptive ADS Rights Offering will commence on October 5, 2021 and will expire at 5:00 p.m. (New York City time) on October 26, 2021 (the “ADS Rights Expiration Time”).

The Preemptive Share Rights are transferable and will be listed on the Bolsa de Comercio de Santiago, Bolsa de Valores (the “Santiago Stock Exchange”), and the Bolsa Electrónica de Chile, Bolsa de Valores (the “Chilean Electronic Stock Exchange” and together with the Santiago Stock Exchange, the “Chilean Stock Exchanges”). Trading in the Preemptive Share Rights on such exchanges is expected to commence on October 4, 2021 and continue until October 29, 2021.

The Preemptive ADS Rights are transferable and are expected to be admitted for trading on the New York Stock Exchange (the “NYSE”), subject to the Preemptive ADS Rights being “in-the-money” at the commencement of trading. Trading in the Preemptive ADS Rights on the NYSE is expected to commence on October 5, 2021 and continue until October 21, 2021.

To the extent that there are any common shares under the capital increase remaining unsubscribed after the Statutory Preemptive Rights Offering (the “Unsubscribed Shares”), the holders of Preemptive Share Rights or assignees thereof who exercised in full their Preemptive Share Rights and subscribed for new common shares in the Statutory Preemptive Rights Offering (“Subscribing Holders”), will be entitled to receive new transferable share rights (“Additional Share Rights”) to subscribe a proportionate share of the Unsubscribed Shares, based on the number of new common shares that the Subscribing Holder subscribed and paid for in the Statutory Preemptive Rights Offering relative to the total number of new common shares subscribed and paid for during the Statutory Preemptive Rights Offering, including common shares underlying new ADSs subscribed and paid for in the Preemptive ADS Rights Offering.

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The exact number of Additional Share Rights each eligible Subscribing Holder will be entitled to receive will not be determined until after the completion of the Statutory Preemptive Rights Offering. We will announce the number of Additional Share Rights that eligible Subscribing Holders or their assignees are entitled to receive for each new common share subscribed and paid for in the Statutory Preemptive Rights Offering as soon as practicable after the completion of the Statutory Preemptive Rights Offering and before the commencement of the subsequent preemptive rights offering for the Unsubscribed Shares (the “Subsequent Statutory Preemptive Rights Offering”). Each full Additional Share Right will entitle the holder to subscribe for one new common share at a subscription price of Ch$1.80 per share (equivalent to approximately US$0.0023, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021), the same share subscription price as in the Statutory Preemptive Rights Offering, payable in cash in Chilean pesos. One full Additional Share Right is required to subscribe for one new common share at the share subscription price. We will only accept subscriptions for whole common shares and will truncate any subscriptions submitted with respect to fractional rights to the nearest whole number of Additional Share Rights that may be exercised.

Holders of Preemptive ADS Rights that exercise their preemptive rights in full in the Preemptive ADS Rights Offering (“Subscribing ADS Rights Holders”) may, at the same time as they exercise their preemptive rights in full in the Preemptive ADS Rights Offering, offer to subscribe for additional new ADSs represented by Unsubscribed Shares in excess of their entitlement (the “Additional ADS Rights”) but not more than their respective initial entitlement amounts of ADSs. To the extent that Additional Share Rights are made available after the Statutory Preemptive Rights Offering, the ADS Rights Agent will allocate additional new ADSs to the Subscribing ADS Rights Holders that exercised the Additional ADS Rights, based on the number of new common shares underlying the new ADSs that the Subscribing ADS Rights Holder subscribed and paid for in the Preemptive ADS Rights Offering relative to the total number of new common shares subscribed and paid for during the Statutory Preemptive Rights Offering, including common shares underlying new ADSs subscribed and paid for in the Preemptive ADS Rights Offering. Subscribing ADS Rights Holders that wish to exercise the Additional ADS Rights must do so at the time they exercise their Preemptive ADS Rights, and must indicate with their subscription the maximum amount of additional new ADSs they seek to subscribe and must pay the full ADS Deposit Amount as described above with respect to such amount of additional new ADSs. Because the full amount of Unsubscribed Shares will not be known prior to the ADS Rights Expiration Time, Subscribing ADS Rights Holders may receive fewer additional new ADSs than they requested based on the pro rata allocation of the Unsubscribed Shares described above. The ADS Rights Agent will return any surplus ADS Deposit Amount to the Subscribing ADS Rights Holder as promptly as practicable following the Subsequent Statutory Preemptive Rights Offering. The amount of any such surplus amount to be returned may be a result of fewer additional new ADSs being issued in connection with Unsubscribed Shares following the allocations in the Subsequent Statutory Preemptive Rights Offering or from exchange rate fluctuations relating to the determination of the final applicable ADS Subscription Price as described above, which may not be the same as the ADS Subscription Price determined with respect to the Preemptive ADS Rights.

The Subsequent Statutory Preemptive Rights Offering is expected to commence on November 11, 2021 and is expected to expire at 11:59 p.m. (Santiago, Chile time) on November 16, 2021. Our shareholders, at the meeting that approved the capital increase, authorized our Board of Directors to amend or not conduct the Subsequent Statutory Preemptive Rights Offering.

The Additional Share Rights will be transferable and are expected to be listed on the Chilean Stock Exchanges. The Additional ADS Rights are not a separate security and will not be traded on an exchange.

To the extent there remain Unsubscribed Shares after the Subsequent Statutory Preemptive Rights Offering, those shares can be freely offered to shareholders and/or third parties from time to time and in amounts to be set forth by the Board of Directors; provided, however, that (i) during the 30 days after the end of the Statutory Preemptive Rights Offering the offer of common shares to third parties cannot be made on terms and conditions more favorable than those in effect for the Statutory Preemptive Rights Offering, and (ii) after such 30-day period, the offer of common shares to third parties cannot be made on terms and conditions different than those in effect for the Statutory Preemptive Rights Offering unless made on the Chilean Stock Exchanges.

The ADSs representing common shares are traded on the NYSE under the symbol “ITCB” and our common shares are traded on the Chilean Stock Exchanges under the symbol “ITAUCORP.” On October 1, 2021, the closing prices on the NYSE per ADS, the Santiago Stock Exchange and the Chilean Electronic Stock Exchange per share were US$3.725 and Ch$1.987 and Ch$1.97, respectively.

Investing in our common shares involves certain risks. See “Risk Factors” beginning on page S-27 of this prospectus supplement and the risk factors contained in the documents incorporated by reference in this prospectus supplement and the accompanying prospectus. You should carefully consider the risk factors described in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference in this prospectus supplement and the accompanying prospectus before you decide to purchase our common shares.

For information regarding the offers, contact D.F. King & Co., Inc., the Information Agent, at (212) 269-5550 (banks and brokers) and (888) 887-0082 (shareholders).

Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of these securities or determined that this prospectus supplement or the accompanying prospectus is accurate or complete. Any representation to the contrary is a criminal offense.

We and our common shares have been registered with the Comisión para el Mercado Financiero (the Chilean Financial Market Commission, or the “CMF”). The CMF has not approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful, accurate or complete.

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The date of this prospectus supplement is October 4, 2021.

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PROSPECTUS SUPPLEMENT

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PROSPECTUS

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In making your investment decision, you should rely on the information contained in or incorporated by reference in this prospectus supplement, the accompanying prospectus and any free writing prospectus filed by us with the SEC. We have not authorized anyone to provide you with any information that is different or in addition to the information provided herein and we do not take any responsibility for, and can provide no assurance regarding the reliability of, any information that others may give you. We are not making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information in this prospectus supplement, the accompanying prospectus or any free writing prospectus is accurate as of any date other than the date of the document or that the information we have filed and will file with the SEC that is incorporated by reference in this prospectus supplement and the accompanying prospectus is accurate as of any date other than the filing date of the applicable document. Our business, financial condition, results of operations and prospects may have changed since those dates.

ABOUT THIS PROSPECTUS SUPPLEMENT

This prospectus supplement is a supplement to the accompanying prospectus, dated June 23, 2021, that is also a part of this document. This prospectus supplement and the accompanying prospectus are part of a registration statement that we filed with the SEC using the SEC’s shelf registration rules. In this prospectus supplement, we provide you with specific information about the terms of this offering of rights to subscribe for our common shares. Both this prospectus supplement and the accompanying prospectus include or incorporate by reference important information about us, our common shares and other information you should know before investing in our common shares. This prospectus supplement also adds to, updates and changes some of the information contained in the accompanying prospectus. To the extent that any statement that we make in this prospectus supplement is inconsistent with the statements made or incorporated by reference prior to the date hereof in this prospectus supplement and the accompanying prospectus, the statements made or incorporated by reference prior to the date hereof in this prospectus supplement and the accompanying prospectus are deemed modified or superseded by the statements made in this prospectus supplement.

Before you invest in our common shares, including common shares represented by ADS, you should read the registration statement of which this document forms a part and this document, including the documents incorporated by reference in this prospectus supplement and the accompanying prospectus that are described under the caption “Available Information” in this prospectus supplement and the accompanying prospectus.

This prospectus supplement, including the accompanying prospectus and the documents incorporated by reference, includes trademarks, service marks and trade names owned by other companies or us. All such trademarks, service marks and trade names are the property of their respective owners.

Unless the context otherwise requires, all references to “Itaú Corpbanca,” the “Company,” “we,” “our,” “ours,” and “us” are to Itaú Corpbanca, a special banking corporation (sociedad anónima especial) organized under the laws of Chile, and its consolidated subsidiaries. The term “you” refers to a prospective investor.

PRESENTATION OF FINANCIAL AND OTHER INFORMATION

We are a Chilean bank and maintain our financial books and records in Chilean pesos and prepare our consolidated financial statements filed with the SEC included in Form 20-F in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). As required by local regulations, our consolidated financial statements filed with the CMF, and that are the basis for dividend distributions, have been prepared in accordance with Generally Accepted Accounting Principles issued by the CMF (“Chilean Banking GAAP”). CMF regulations provide that, for those matters not specifically regulated by that agency, our financial statements prepared under Chilean Banking GAAP should follow the accounting principles established by IFRS. Our consolidated financial statements prepared in accordance with IFRS differ from the financial statements prepared in accordance with Chilean Banking GAAP.

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Financial Information

The financial data set out in this prospectus supplement is derived from and should be read in conjunction with (i) our audited consolidated financial statements and accompanying notes prepared in accordance with IFRS, as issued by IASB, as of December 31, 2020 and 2019 and for the three years ended December 31, 2020 and 2019 and 2018, included in the 2020 Form 20-F (defined below), which are incorporated by reference in this prospectus supplement (the “Audited IFRS Financial Statements”), (ii) our unaudited consolidated financial statements and accompanying notes prepared in accordance with IFRS as of June 30, 2021 and for the six months ended June 30, 2021 and 2020 included in the Form 6-K furnished to the SEC on October 4, 2021, which are incorporated by reference in this prospectus supplement (the “Unaudited IFRS Financial Statements”), and (iii) our unaudited consolidated financial statements and accompanying notes prepared in accordance with Chilean Banking GAAP, as of June 30, 2021 and for the six months ended June 30, 2021 and 2020 included in the Form 6-K furnished to the SEC on October 4, 2021, which are incorporated by reference in this prospectus supplement (the “Unaudited Chilean Banking GAAP Financial Statements”). We have also included herein certain information in IFRS or Chilean Banking GAAP with respect to the Chilean financial system and the financial performance of the Bank, as well as certain non-IFRS measures that we believe are useful to investors for their analysis of our financial position and results of operations, including information relating to the Chilean financial system and our performance relative to competitors as further discussed below.

In this prospectus supplement, unless otherwise specified, all references to “US$,” “U.S. dollars” and “dollars” are to United States dollars, all references to “pesos” or “Ch$” are to Chilean pesos. Unless otherwise indicated, U.S. dollar amounts have been translated from Chilean pesos based on our own exchange rate Ch$731.91 per US$1.00 as of June 30, 2021. The Federal Reserve Bank of New York does not report a noon buying rate for Chilean pesos. No representation is made that the Chilean peso or U.S. dollar amounts shown in this prospectus supplement could have been or could be converted into U.S. dollars or Chilean pesos, as the case may be, at such rate or at any other rate.

Certain Non-IFRS Measures

The body of generally accepted accounting principles is commonly referred to as “GAAP.” Our management believes that the presentation of certain non-IFRS measures provides additional useful information to investors regarding our performance and trends related to our results of operations. Accordingly, we believe that when non-IFRS financial information is viewed with GAAP financial information, investors are provided with a more meaningful understanding of our ongoing operating performance and financial results. For this reason, we are including in this prospectus supplement information regarding our Adjusted Return on Tangible Equity, Adjusted Total Operating Expenses to Average Loans Ratio, Adjusted Total Operating Expenses to Assets Ratio, Efficiency Ratio, Non-Performing Loans Ratio, Coverage Ratio and Cost of Credit/Loan Portfolio, all as defined below in “Selected Historical Financial Information – Supplementary Other Financial Data.”

These measures are not calculated in accordance with IFRS, and our use of these terms may vary from the use of similarly-titled measures by other companies due to potential inconsistencies in the method of calculation and differences due to items subject to interpretation. We use non-IFRS measures from period to period on a company-wide basis, as described below. Even though the non-IFRS measures are used by management to assess our financial position, financial results and liquidity and some types of measures are commonly used by investors, they have important limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our financial position or results of operations as reported under IFRS.

Rounding

Certain figures included in this prospectus supplement have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be an arithmetic aggregation of the figures that precede them.

Market and Industry Data

This prospectus supplement contains data related to the economic conditions in the markets in which we operate. Unless otherwise indicated, information in this prospectus supplement concerning economic conditions is based

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on publicly available information from third-party sources which we believe to be reasonable. Although we have no reason to believe any of this information or these reports are inaccurate in any material respect, we have not, and the dealer managers, placement agents, if any, and underwriters, if any, have not, independently verified the competitive position, market share and market size or market growth data provided by third parties or by industry or general publications. The economic conditions in the markets in which we operate may deteriorate, and those economies may not grow at the rates projected by market data, or at all. The deterioration of the economic conditions in the markets in which we operate may have a material adverse effect on our business, results of operations, financial condition and the market price of our common shares and common shares represented by ADSs.

AVAILABLE INFORMATION

We are subject to the information requirements of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), applicable to a foreign private issuer and, accordingly, file or furnish reports, including annual reports on Form 20-F, reports on Form 6-K, and other information with the SEC. Our filings with the SEC are available to the public through the SEC’s website at http://www.sec.gov and at our website at https://ir.itau.cl. (Reference to this URL is made as an inactive textual reference for informational purposes only. Information contained at this website is not incorporated by reference into this prospectus supplement or the accompanying prospectus.)

This prospectus supplement and the accompanying prospectus are part of a registration statement on Form F-3ASR we filed with the SEC. This prospectus supplement does not contain all of the information in the registration statement. Whenever a reference is made in this prospectus supplement to a contract or other document of ours, please be aware that the reference is only a summary and that you should refer to the exhibits that are filed as an exhibit to the registration statement for a copy of the contract or other document. You may review a copy of the registration statement through the SEC’s website at http://www.sec.gov and at our website at https://ir.itau.cl.

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INCORPORATION BY REFERENCE

The SEC’s rules allow us to “incorporate by reference” information into this prospectus supplement. This means that we can disclose important information to you by referring you to another document. Any information referred to in this way is considered part of this prospectus supplement from the date we file that document. Any reports filed by us with the SEC after the date of this prospectus supplement will be incorporated by reference into this prospectus supplement and will automatically update and, where applicable, supersede any information contained in this prospectus supplement or incorporated by reference in this prospectus supplement (other than, in each case, documents or information deemed to have been furnished and not filed in accordance with SEC rules).

This prospectus supplement incorporates by reference the documents listed below and any future filings we make with the SEC under Section 13(a), 13(c), 14 or 15(d) of the Exchange Act. Reports on Form 6-K we furnish to the SEC after the date of this prospectus supplement (or portions thereof) are incorporated by reference in this prospectus supplement only to the extent that the report expressly states that it (or such portions) is incorporated by reference in this prospectus supplement. Incorporation by reference of one or more portions of a document listed below (and not the complete document) shall not include the incorporation by reference of the remaining portions of such document. We incorporate by reference into this prospectus supplement the following documents or information filed by us with the SEC:

In addition, prior to the expiration of the Subsequent Statutory Preemptive Rights Offering, we expect to furnish to the SEC and incorporate by reference into this prospectus supplement, a current report on Form 6-K containing the unaudited interim consolidated financial statements of Itaú Corpbanca as of September 30, 2021 and for the nine-month periods ended September 30, 2021 and 2020 prepared in accordance with Chilean Banking GAAP.

Except for any reports on Form 6-K specifically listed or described above, we are not incorporating any document or information furnished and not filed in accordance with SEC rules. We will provide without charge to each person, including any beneficial owner, to whom this prospectus supplement is delivered, upon his or her written or oral request, a copy of any or all documents referred to above which have been or may be incorporated by reference into this prospectus supplement. You may request a copy of these filings by writing or telephoning us at our principal executive offices at the following address:

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ITAÚ CORPBANCA

Rosario Norte 660

Las Condes

Santiago, Chile

Attention: Investor Relations

Telephone Number: +562-2660-1751

In accordance with Chilean laws and regulations, documents, reports and other information relating to the capital increase have been made publicly available to the shareholders of Itaú Corpbanca on Itaú Corpbanca’s website at ir.itau.cl. Except as otherwise specifically provided, the information contained on and linked from our website is not incorporated by reference into this prospectus supplement.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This prospectus supplement and the documents incorporated by reference herein contain statements that are or may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements include statements preceded by, followed by or that include “believes,” “expects,” “intends,” “plans,” “projects,” “estimates” or “anticipates” and similar expressions.

These statements appear throughout this prospectus supplement, including, without limitation, under “Risk Factors” and “Prospectus Supplement Summary,” are not based on historical facts but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside our control and include statements regarding our current intent, belief or expectations with respect to (i) our asset growth and financing plans, (ii) trends affecting our financial condition or results of operations, (iii) the impact of competition and regulations, (iv) projected capital expenditures, and (v) liquidity.

Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those described in such forward-looking statements included in this prospectus supplement and any accompanying prospectus, including the information incorporated by reference as a result of various factors (including, without limitation, the actions of competitors, future global economic conditions, market conditions, currency exchange rates and operating and financial risks), many of which are beyond our control. The occurrence of any such factors, not currently expected by us, would significantly alter the results set forth in these statements.

Factors that could cause actual results to differ materially and adversely include, but are not limited to:

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You should not place undue reliance on such statements, which speak only as of the date that they were made. Our independent registered public accounting firm has not examined or compiled the forward-looking statements and, accordingly, does not provide any assurance with respect to such statements. You should consider these cautionary statements together with any written or oral forward-looking statements that we may issue in the future. We do not undertake any obligation to release publicly any revisions to forward-looking statements contained in this prospectus supplement or in the documents incorporated by reference herein to reflect later events or circumstances or to reflect the occurrence of unanticipated events, except as required by law.

For all these forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

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SUMMARY OF THE RIGHTS OFFERINGS

This summary highlights certain information contained elsewhere in this prospectus supplement. This summary does not contain all of the information that you should consider before deciding to purchase our securities. We urge you to read the entire prospectus supplement and the accompanying prospectus carefully, including the “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” sections, along with our consolidated financial statements and the notes to those financial statements.

Rights Offerings

Preemptive ADS Rights Offering

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OUR COMPANY

We are a publicly traded company organized under the laws of Chile, and licensed by the CMF to operate as a commercial bank. In addition to our presence in Chile, we also have operations in Colombia and Panama, a branch in New York City, United States and a representation office in Lima, Peru.

We are the resulting entity from the merger of two leading banks in Chile: Corpbanca, the oldest private bank in Chile and the legal surviving entity, and Banco Itaú Chile, a wholly-owned subsidiary of Itaú Unibanco Holding, and the sole controlling shareholder of Itaú Corpbanca, since the Merger. We provide a broad range of wholesale and retail banking services to our customers in Chile and Colombia. In addition, we provide financial advisory services, asset management, insurance brokerage and securities brokerage services through our subsidiaries, and banking services through our New York Branch. For more information on our services offerings, see “Item 4. Information on the Company—B. Business Overview—Principal Business Activities” of the 2020 Form 20-F, which is incorporated by reference in this prospectus supplement and the accompanying prospectus.

We are one of Chile’s largest private financial institutions, ranking fifth in the Chilean banking industry with a market share by loans of 9.8% in Chile as of June 30, 2021, according to the CMF. In addition, according to the Colombian Financial Superintendency, Itaú Corpbanca Colombia was the ninth-largest bank in Colombia in terms of total assets, the eighth-largest bank in Colombia in terms of total loans and the eleventh-largest bank in Colombia, in terms of total deposits as reported under local regulatory and accounting principles, as of the same date. We operate 188 branch offices in Chile, 107 branches in Colombia, one branch in New York, one branch in Panama and one office in Peru.

As of June 30, 2021, based on our Unaudited IFRS Financial Statements, we had total assets of Ch$34,292.7 billion (US$47,853.7 million), including total loans of Ch$22,017.1 billion (US$30,081.7 million); total liabilities of Ch$31,914.7 billion (US$43,604.7 million), including time deposits and other time liabilities of Ch$10,269.8 billion (US$14,031.5 million); and shareholders’ equity of Ch$2,309.6 billion (US$3,155.5 million). Our annualized return on average shareholders’ equity was 14.5% as of June 30, 2021, based on our Unaudited IFRS Financial Statements. For the six months ended June 30, 2021, based on our Unaudited IFRS Financial Statements, we had net interest income of Ch$477.1 billion (US$651.9 million) and net income of Ch$168.2 billion (US$229.8 million).

Our risk management strategy has enabled us to maintain what we believe are stable solvency ratios and risk indicators, notwithstanding recent high levels of volatility in the financial markets. As of June 30, 2021, our regulatory capital to risk weighted assets ratio was 13.0% according to the rules issued by the CMF under the Basel I capital requirements standards in Chile, higher than the 10% minimum regulatory capital to risk weighted assets ratio imposed on us by the CMF. Our allowance for loan losses as of June 30, 2021, based on our Unaudited IFRS Financial Statements, was Ch$860.9 billion (excluding allowances for loan losses on loans and receivable to banks) and the risk index (or allowances for loan losses to total loans) was 3.9%, as of the same date.

We only have one class of common shares, without par value. As of June 30, 2021, we had 512,406,760,091 outstanding common shares. Our common shares are listed in Chile on the Chilean Stock Exchanges and trade under the ticker symbol “ITAUCORP.” The ADSs are listed on the NYSE and trade under the ticker symbol “ITCB.”

As of June 30, 2021, Itaú Unibanco Holding owned 39.22% of our outstanding common shares and CorpGroup beneficially owned 27.16% of our outstanding common shares.

History

We are the resulting entity from the merger of two leading banks in Chile: Corpbanca, the oldest private bank in Chile and the legal surviving entity, and Banco Itaú Chile, a wholly-owned subsidiary of Itaú Unibanco Holding, and the sole controlling shareholder of Itaú Corpbanca, since the Merger on April 1, 2016.

Our history has been extensive and full of challenges. We were incorporated as Banco de Concepción by Decree No. 180 of the Chilean Ministry of Finance on October 3, 1871, and legally began operations as a bank on

October 16 of the same year. Over the next 150 years, we went through a number of changes in control from private to government agency and back to private, and also through several mergers and acquisitions.

In 1971, Banco de Concepción was transferred to a government agency, Corporación de Fomento de la Producción (the Chilean Corporation for the Development of Production, or CORFO). Also in 1971, Banco de Concepción acquired Banco Francés e Italiano in Chile, which provided for the expansion of Banco de Concepción into Santiago. In 1972 and 1975, Banco de Concepción acquired Banco de Chillán and Banco de Valdivia, respectively. In November 1975, CORFO sold its shares of Banco de Concepción to private business persons, who took control in 1976. In 1980, the name of the bank was changed to Banco Concepción. In 1983, control of Banco Concepción was assumed by the Chilean Superintendency of Banks and Financial Institutions (which was replaced by the CMF). It remained under the control of the CMF through 1986, when it was acquired by Sociedad Nacional de Minería (the Chilean National Mining Society, or SONAMI). Under SONAMI’s control, Banco Concepción focused on providing financing to small- and medium-sized mining interests, increased its capital and sold a portion of its high-risk portfolio to the Central Bank of Chile.

Investors led by Mr. Alvaro Saieh Bendeck purchased a majority interest of Banco Concepción from SONAMI in 1996. Following the acquisition by Mr. Alvaro Saieh Bendeck in 1996, Banco Concepción changed the brand name to Corpbanca, hired a management team with substantial experience in the Chilean financial services industry and commenced a period of significant growth fueled by organic expansion and acquisitions. Our first significant transactions were the acquisition of the assets of the consumer loan division of Corfinsa and the finance company Financiera Condell S.A. in 1998. Both combined created Corpbanca’s Consumer Division, Banco Condell, focused on the middle-low income segment of the population in Chile.

With a view to its internationalization in November 2004, Corpbanca completed the listing process that enabled it to trade its ADSs on the New York Stock Exchange. Five years later, the New York Branch was opened as a support for 53 clients who saw their possibilities of financing in the United States expand. Two years later, Corpbanca opened its representative office in Spain, whose role is to inform and promote the bank with foreign companies and serve as a liaison with bank clients in Chile and Colombia.

In September 2006, Itaú financial group expanded into Chile, by entering into the acquisition of BankBoston (Chile), subject to closing conditions that were met in a few months. On February 28, 2007, BankBoston (Chile) was renamed Banco Itaú Chile, after the Superintendency of Banks and Financial Institutions (now the CMF) approved the acquisition.

In June 2012, former Corpbanca finalized the acquisition of Banco Santander Colombia S.A. (now Itaú Corpbanca Colombia). With this acquisition, we became the first Chilean bank to have a banking subsidiary outside the country. In 2013, we acquired Helm Bank S.A., and the following year, merged it with and into Itaú Corpbanca Colombia, maintaining the networks of branches separately: Itaú Corpbanca Colombia and Helm.

Becoming a large bank with a regional presence prompted our former controlling shareholder to enter, on January 29, 2014, into a merger agreement with Itaú Unibanco Holding and Banco Itaú Chile. In June 2015, the Extraordinary Shareholders Meetings of Corpbanca and Banco Itaú Chile agreed to the Merger, which was approved by the Superintendency of Banks and Financial Institutions in September of the same year. On April 1, 2016 the Merger was consummated and Banco Itaú Chile was merged with and into Corpbanca, renaming us as “Itaú Corpbanca.”

Immediately following the Merger, the corresponding subsidiaries of Banco Itaú Chile and Corpbanca continued to operate independently and their respective clients were served by their current executives. In January 2017, December 2017, and April 2018, respectively, each of our securities brokerages’ subsidiaries, our asset managers’ subsidiaries, and our insurance broker’s subsidiaries were also merged to consolidate these subsidiaries into one single company for each line of business.

In this way, the stories of Banco Itaú Chile and Corpbanca were merged into a single one, with Corpbanca contributing a long and successful business trajectory which has had a clear goal: offering clients a service of excellence while being faithful to what inspired its founders. On the other hand, Itaú Unibanco Holding, with more than 90 years of

history in Brazil, contributed all its experience as the largest private bank in Latin America and one of the largest banks in the world measured in market capitalization, with a leading presence in the Brazilian market.

Our business model is the result of the combination of the local banks’ strengths and local knowledge, which will allow us to reach more clients, with an extended range of products and financial solutions.

By consolidating operations in Chile and Colombia, we became one of Chile’s largest private financial institutions, ranking fifth in the Chilean banking industry with a market share by loans of 9.8% in Chile as of June 30, 2021. In addition, according to the Colombian Financial Superintendency, Itaú Corpbanca Colombia was the ninth-largest bank in Colombia in terms of total assets, the eighth-largest bank in Colombia in terms of total loans and the eleventh-largest bank in Colombia, in terms of total deposits as reported under local regulatory and accounting principles, as of the same date. The Merger and combination of the strengths of both banks has translated into an expansion in products and services offerings for our clients, with a large branch platform in Chile. We operate 188 branch offices in Chile, one branch in New York, 107 branches in Colombia and one office in Panama.

As of the date of this prospectus supplement, Itaú Unibanco Holding beneficially owned 39.22% of our outstanding common shares and CorpGroup beneficially owned 27.16% of our outstanding common shares. Itaú Unibanco Holding and CorpGroup also entered into the Itaú CorpGroup Shareholders’ Agreement on April 1, 2016. Upon the consummation of the Merger, Itaú Unibanco Holding became the sole controlling shareholder of the merged bank.

As of the date of this prospectus supplement, CorpGroup filed a voluntary petition in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) seeking relief under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”). Such proceeding is not expected to have a material adverse effect on us.

For additional information regarding Itaú Corpbanca, see the documents listed under “Incorporation by Reference,” which are incorporated by reference into this prospectus supplement and the accompanying prospectus.

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RISK FACTORS

We have set forth risk factors in the 2020 Form 20-F, which is incorporated by reference in this prospectus supplement and the accompanying prospectus. We have also set forth below certain risk factors that relate specifically to the securities offered hereby as well as other updates to certain of the risk factors in 2020 Form 20-F. We may include further risk factors in subsequent reports on Form 6-K or other filings with the SEC that may be incorporated by reference in this prospectus supplement and the accompanying prospectus. You should carefully consider all these risk factors in addition to the other information presented or incorporated by reference in this prospectus supplement and the accompanying prospectus prior to making any investment.

Risks Related to the Rights Offerings

Exchange controls and withholding taxes in Chile may limit repatriation of your investment.

Equity investments in Chile by persons who are not Chilean residents may be subject to exchange control regulations that govern the repatriation of investments and earnings.

Dividends received by holders of ADSs are paid net of foreign currency exchange fees and fees and expenses of the ADS Depositary and are subject to Chilean withholding tax, currently imposed at a rate of 35%, subject to credits in certain cases as described under “Taxation—Material Chilean Tax Consequences.” In order to facilitate capital movements from and into Chile and to encourage foreign investment, the Central Bank of Chile eliminated many foreign exchange restrictions and adopted the Compendium of Foreign Exchange Regulations (Compendio de Normas de Cambios Internacionales) effective April 19, 2001.

We cannot assure you that additional Chilean restrictions applicable to the holders of ADSs, the disposition of the common shares underlying the ADSs or the repatriation of the proceeds from such disposition or the payment of dividends will not be imposed in the future, nor can we advise as to the duration or impact of such restrictions, if imposed. If for any reason, including changes in the Compendium of Foreign Exchange Regulations or Chilean law, the depositary is not able to convert Chilean pesos to U.S. dollars, investors would receive dividends or other distributions, if any, in Chilean pesos.

Our controlling shareholder is able to exercise significant control over us which could result in conflicts of interest.

Itaú Unibanco Holding is our sole controlling shareholder. As of June 30, 2021, Itaú Unibanco Holding beneficially owned 39.22% of our voting common shares. In addition, (i) Itaú Unibanco Holding and (ii) Inversiones Gasa Limitada, CorpGroup Holding Inversiones Limitada, CorpGroup, Compañía Inmobiliaria y de Inversiones Saga SpA and CorpGroup Interhold SpA have signed a shareholders’ agreement to determine certain aspects related to corporate governance, dividend policy, transfer of common shares, liquidity and other matters (the “Itaú CorpGroup Shareholders’ Agreement”). Itaú Unibanco Holding and CorpGroup are in position to elect 11 of the 13 members of our board of directors. The Itaú CorpGroup Shareholders’ Agreement provides that the directors appointed by Itaú Unibanco Holding and CorpGroup will vote, to the extent permitted by applicable law, in a block and in accordance with the recommendation of Itaú Unibanco Holding, subject to certain exceptions. Accordingly, Itaú Unibanco Holding is able to control the actions taken by our board of directors on most matters, which could result in conflicts of interest.

Our shareholder, CorpGroup, is currently under a Chapter 11 bankruptcy proceeding in Delaware and neither it nor its affiliates will enter into a lock-up agreement with the dealer managers in respect of the common shares they own of us and will thus not be subject to the same restrictions on sales of our common shares as our other principal shareholders.

We, our officers, certain of our directors and certain of our principal shareholders (not including CorpGroup or its affiliated entities) have agreed that we will not from the date of the prospectus supplement to and including the date that is 90 days after the date of this prospectus supplement, without the prior written consent of the dealer managers, offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or dispose of any shares of our

common shares or any substantially similar securities, subject to certain exceptions as described under “Dealer Managers, Placement Agents and Underwriters.”

On June 25, 2021, as described above, CorpGroup filed a voluntary petition in the Bankruptcy Court seeking relief under Chapter 11 of Title 11 of the Bankruptcy Code. While this bankruptcy proceeding is ongoing, any action taken or proposed to be taken by CorpGroup as a debtor in bankruptcy is subject to the Bankruptcy Court’s oversight, including any sales of CorpGroup’s securities or transfer restrictions on the same, including potential need to await CorpGroup’s reorganization plan and approval by its shareholders, creditors and the Bankruptcy Court. All of the foregoing is uncertain and could take considerable time or not be attainable at all.

We cannot control the terms of CorpGroup’s reorganization plan, the views of its shareholders or creditors or any decision of the Bankruptcy Court with respect to the bankruptcy proceedings with respect of any of CorpGroup’s share ownership, including their share ownership in us and the impact of any of the foregoing on the value of our common shares. As a result of the foregoing, CorpGroup will not be subject to the same restrictions as our other principal shareholders, and it could as a result determine to sell all or a portion of its common shares subject to the outcome of the bankruptcy proceedings described above, including any common shares it may acquire in the Statutory Preemptive Rights Offering, which could adversely affect the current trading value of our common shares depending on market conditions at such time.

Foreign exchange risks may adversely affect our results and the U.S. dollar value of dividends payable to ADS holders.

Trading of our common shares underlying the ADSs is conducted in Chilean pesos. The ADS Depositary will receive cash distributions that we make with respect to the common shares underlying the ADSs in Chilean pesos. The depositary will convert such Chilean pesos to U.S. dollars at the then-prevailing exchange rate to make dividend and other distribution payments in respect of ADSs. If the Chilean peso depreciates against the U.S. dollar, the value of the ADSs and any U.S. dollar distributions ADS holders receive will decrease. For further disclosure please refer to “Item 10. Additional Information—D. Exchange Controls,” in the 2020 Form 20-F, which is incorporated by reference in this prospectus supplement and the accompanying prospectus.

There can be no assurance that further Central Bank of Chile regulations or legislative changes to the current foreign exchange control regime in Chile will not restrict or prevent foreign investors from purchasing or remitting U.S. dollars, or that further restrictions applicable to foreign investors which affect their ability to remit the capital, dividends or other benefits in connection with the common shares of stock will not be imposed by the Central Bank of Chile in the future, nor can there be any assessment to the duration or impact of such restrictions, if imposed.

If you do not participate in this offering you may suffer very significant dilution.

Holders of our common shares or ADSs who receive Preemptive Share Rights or Preemptive ADS Rights and who do not exercise their rights or who do not otherwise sell their rights will be deemed to have forfeited their rights to participate in the rights offerings. Holders of common shares or ADSs that do not exercise their rights in the rights offerings will have their equity interest in, and voting rights with respect to, us very significantly diluted by the new common shares and new ADSs issued in connection with the rights offering, which would if subscribed in full represent approximately 89.99% of our currently outstanding common shares.

Preemptive ADS Rights, Preemptive Share Rights, Additional Share Rights and Additional ADS Rights that are not exercised prior to the end of the applicable subscription period will expire, and the Preemptive Share Rights and Additional Share Rights will not have any value and the Preemptive ADS Rights and the Additional ADS Rights may not have any value.

The Preemptive ADS Rights subscription period will begin on October 5, 2021 and expire at 5:00 p.m. (New York City time) on October 26, 2021. The Preemptive Share Rights subscription period will begin on October 4, 2021 and expire at 11:59 p.m. (Santiago, Chile time) on November 2, 2021. The Additional Share Rights subscription period is expected to begin on November 11, 2021 and is expected to expire at 11:59 p.m. (Santiago, Chile time) on

November 16, 2021. Any Preemptive Share Rights or Additional Share Rights that are unexercised at the end of the applicable subscription period will expire valueless without any compensation. With respect to Preemptive ADS Rights that are unexercised at the end of the applicable subscription periods, the ADS Depositary will attempt to sell in Chile the Preemptive Share Rights underlying the Preemptive ADS Rights that expire unexercised and the ADS Rights Agent will distribute the net sales proceeds, if any, after deduction of the applicable fees and applicable withholding in respect of taxes to the non-exercising holders of the Preemptive ADS Rights on a pro rata basis. If the Preemptive Share Rights underlying such unexercised Preemptive ADS Rights cannot be sold, they will be allowed to expire unexercised, and the Preemptive Share Rights and the corresponding Preemptive ADS Rights will have no further value.

The trading period for Preemptive ADS Rights is expected to be from October 5, 2021 to October 21, 2021 on the NYSE and for Preemptive Share Rights is expected to be from October 4, 2021 to October 29, 2021 on the Chilean Stock Exchanges. The trading period for Additional Share Rights is expected to be from November 11, 2021 to November 15, 2021 on the Chilean Stock Exchanges. It is possible that an active trading market in the Preemptive ADS Rights on the NYSE, or in the Preemptive Share Rights or Additional Share Rights on the Chilean Stock Exchanges, may not develop during the applicable rights trading period and that an over-the-counter trading market in the Preemptive ADS Rights, Preemptive Share Rights or Additional Share Rights may not develop. Even if an active market develops, the trading prices of the Preemptive ADS Rights, Preemptive Share Rights or Additional Share Rights may be volatile. In addition, ADS holders and shareholders in certain jurisdictions are not allowed to participate in the rights offerings. The rights held by such ineligible holders may be sold by them, which could cause the market prices of the rights to fall.

Future preemptive rights may be unavailable to ADS holders.

The Chilean Corporation Act Law No. 18,046, and applicable regulations require that whenever we issue new common shares for cash, we are required by law to grant preemptive rights to all holders of our shares (including to the depositary on behalf of holders of ADSs), giving them the right to purchase a sufficient number of shares to maintain their existing ownership percentage. Although we have taken steps to offer shares to holders of ADSs in connection with the current rights offering, we might not offer shares to holders of ADSs pursuant to preemptive rights granted to our shareholders in connection with any future issuance of shares. We intend to evaluate at the time of any future rights offering the costs and potential liabilities associated with any such offering including with respect to the filing of a registration statement, as well as the indirect benefits to us of enabling holders of ADSs to exercise preemptive rights and any other factors that we consider appropriate at the time, and then make a decision as to whether to file such registration statement.

To the extent holders of ADSs are unable to exercise preemptive rights issued in the future, the ADS Depositary may, in accordance with the terms and conditions set forth in the Amended and Restated Deposit Agreement dated as of June 11, 2018 among Itaú Corpbanca, the ADS Depositary, and the holders and beneficial owners from time to time of American Depositary Shares issued thereunder (the “Deposit Agreement”), attempt to sell such holders’ preemptive rights and distribute the resulting net proceeds if a secondary market for such rights exists and a premium can be recognized over the cost of any such sale. If such rights cannot be sold, they will expire and holders of ADSs will not realize any value from the grant of such preemptive rights. In any such case, such holder’s equity interest in our company would be diluted proportionately. See “Description of Common Shares—Preemptive Rights and Increases of Share Capital” and “Description of American Depositary Shares—Dividends and Other Distributions” in the accompanying prospectus. In connection with the current rights offerings, we have filed a registration statement of which this prospectus supplement and accompanying prospectus are a part, in order to enable holders of ADSs and holders of common shares located in the United States to participate in the rights offerings.

You may have fewer and less well-defined shareholders’ rights than with shares of a company in the United States.

Our corporate affairs are governed by our estatutos sociales, or Bylaws, and the laws of Chile. Under such laws, our shareholders may have fewer or less well-defined rights than they might have as shareholders of a corporation incorporated in a U.S. jurisdiction. Holders of ADSs are not entitled to attend shareholders’ meetings, and, if given the right to vote, they may only vote through the ADS Depositary.

Under Chilean law, a shareholder is required to be registered in our shareholders’ registry at 11:59 p.m. on the fifth business day prior to a shareholders’ meeting in order to vote at such meeting. A holder of ADSs will not be able to meet this requirement and accordingly is not entitled to vote at shareholders’ meetings because the common shares underlying the ADSs will be registered in the name of the ADS Depositary. While a holder of ADSs is entitled to instruct the ADS Depositary as to how to vote the common shares represented by ADSs in accordance with the procedures provided for in the Deposit Agreement, a holder of ADSs will not be able to vote its shares directly at a shareholders’ meeting or to appoint a proxy to do so. In certain instances, a discretionary proxy may be granted to a person designated by us to vote our shares underlying the ADSs if a holder of ADSs does not instruct the ADS Depositary with respect to voting.

Future sales of shares by our shareholders may adversely affect the price of our shares and the ADSs.

Future sales of substantial amounts of our common shares or the perception that such future sales may occur, may depress the price of our shares and the ADSs. It is possible that the price of our shares and the ADSs may not recover from any such decline in value.

You will not be able to rescind your subscription in the rights offerings.

Exercises of Preemptive Share Rights, Preemptive ADS Rights, Additional Share Rights and Additional ADS Rights are irrevocable, and you may not rescind your subscription. Moreover, the value of our shares and the ADSs may decrease significantly from the time the right is exercised until the issuance of the common shares and ADSs. It is possible that the subscription price paid may not accurately reflect the value of the common shares and ADSs delivered.

ADS holders will be subject to exchange rate and other risks if they participate in the rights offerings.

The ADS Subscription Price will be determined following the ADS Rights Expiration Time and will be 1,500 times the U.S. dollar equivalent of the fixed Chilean peso share subscription price.

You will bear the risk of exchange rate fluctuations between the U.S. dollar and the Chilean peso relating to the exercise of your ADS rights and, in addition to the ADS Subscription Price, you will have to pay an ADS issuance fee and financial transaction taxes, if any, in Chile.

The ADS Rights Agent will make the conversion from U.S. dollars into Chilean pesos at a rate determined by it at that time in order to pay the share subscription price for the underlying Preemptive Share Rights and Additional Share Rights underlying the Preemptive ADS Rights and Additional ADS Rights. If the deposited amount is insufficient to cover the actual ADS Subscription Price in Chilean pesos plus conversion expenses, ADS issuance fees and financial transaction taxes for ADSs you are subscribing for, you will have to pay the deficiency to the ADS Rights Agent. If you do not pay the deficiency, the ADS Rights Agent may reduce the amount of new ADSs subscribed or sell a portion of your new ADSs to cover the deficiency.

The ADS Rights Agent may convert currency itself, through Itaú Corpbanca or through any of its affiliates, or the Custodian may convert currency and pay U.S. dollars to the ADS Rights Agent. Where the ADS Rights Agent converts currency itself or through any of its affiliates, the ADS Rights Agent acts as principal for its own account and not as agent, advisor, broker or fiduciary on behalf of any other person and earns revenue, including, without limitation, transaction spreads, that it will retain for its own account. The revenue is based on, among other things, the difference between the exchange rate assigned to the currency conversion made under the ADS Rights Agent agreement and the rate that the ADS Rights Agent or its affiliate receives when buying or selling foreign currency for its own account. The ADS Rights Agent makes no representation that the exchange rate used or obtained by it or its affiliate in any currency conversion under the ADS Rights Agent agreement will be the most favorable rate that could be obtained at the time or that the method by which that rate will be determined will be the most favorable to ADS holders, subject to the ADS Rights Agent’s obligations under the ADS Rights Agent agreement to act without gross negligence or willful misconduct. The methodology used to determine exchange rates used in currency conversions made by the ADS Rights Agent is available upon request directed to the ADS Rights Agent. Where the Custodian converts currency, the Custodian has no obligation to obtain the most favorable rate that could be obtained at the time or to ensure that the

method by which that rate will be determined will be the most favorable to ADS holders, and the ADS Rights Agent makes no representation that the rate is the most favorable rate and will not be liable for any direct or indirect losses associated with the rate.

You may not receive all of the additional ADSs you apply for pursuant to the Additional ADS Rights.

Subscribing ADS Rights Holders may, at the same time they exercise their Preemptive ADS Rights in full in the Preemptive ADS Rights Offering, offer to subscribe for Additional ADS Rights but not more than their respective initial entitlement amounts of ADSs. To the extent that Additional Share Rights are made available after the Statutory Preemptive Rights Offering, the ADS Rights Agent will allocate additional new ADSs to the Subscribing ADS Rights Holders that exercised the Additional ADS Rights, based on the number of new common shares underlying the new ADSs that the Subscribing ADS Rights Holder subscribed and paid for in the Statutory Preemptive Rights Offering relative to the total number of new common shares subscribed and paid for during the Statutory Preemptive Rights Offering, including shares underlying new ADSs subscribed and paid for in the Preemptive ADS Rights Offering. Because the full amount of Unsubscribed Shares will not be known prior to the ADS Rights Expiration Time, Subscribing ADS Rights Holders may receive fewer additional new ADSs than they requested based on the pro rata allocation of the Unsubscribed Shares described above. If an insufficient number of Additional Share Rights and Additional ADS Rights are available to fully satisfy all excess applications, the available Additional Share Rights and Additional ADS Rights will be distributed on a pro rata basis as described in “Rights Offering—Subsequent Statutory Preemptive Rights Offering.”

Lawsuits against us brought outside of the South American countries in which we operate, or complaints against us based on foreign legal concepts may be unsuccessful.

A majority of our assets are located outside of the United States. All of our directors and officers reside outside of the United States and most of their assets are located outside the United States as well. If any shareholder were to bring a lawsuit against our directors, officers or experts in the United States, it may be difficult for them to effect service of legal process within the United States upon these persons or to enforce against them, in United States or Chilean courts, judgments obtained in the United States courts based upon the civil liability provisions of the federal securities laws of the United States. In addition, an action may not be brought successfully in Chile on the basis of liability based solely upon the civil liability provisions of the United States federal securities laws.

It may be difficult for investors outside Chile to serve process on or enforce foreign judgments against us in connection with the rights offerings.

We are incorporated in Chile. As a result, it may be difficult for investors outside Chile to serve process on or enforce foreign judgments against us in connection with the rights offerings. See “Enforceability of Civil Liabilities” in the accompanying prospectus.

Our U.S. shareholders and holders of ADSs could suffer adverse tax consequences, if we are classified as a “passive foreign investment company.”

Generally, if, for any taxable year, at least 75% of our gross income is passive income or at least 50% of the average quarterly value of our gross assets is attributable to assets that produce passive income or are held for the production of passive income, including cash, we would be characterized as a passive foreign investment company, or PFIC, for U.S. federal income tax purposes. Based upon our present regulatory status under Chilean law, current estimates, expectations and projections of the value and classification of our assets and the sources and nature of our income, we believe that we were not a PFIC for U.S. federal income tax purposes for our 2020 taxable year and we do not anticipate being a PFIC for our 2021 taxable year, but this conclusion is a factual determination that is made annually and there can be no assurance that we will not be considered a PFIC for the current taxable year or any subsequent taxable year. If we are characterized as a PFIC, a U.S. holder of our common shares or ADSs (or under proposed Treasury regulations, rights to acquire our shares or ADSs) may suffer adverse U.S. federal income tax consequences. See “Material U.S. Federal Income Tax Consequences of Owning and Disposing of New Shares or New ADSs—Passive Foreign Investment Company Rules.”

Risks Related to Itaú Corpbanca’s Business

You should read and consider the risk factors specific to our business. These risks are described in our 2020 Form 20-F and in other documents that are incorporated by reference into this prospectus supplement and the accompanying prospectus. See “Additional Information” for more detail on the information incorporated by reference into this prospectus supplement.

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USE OF PROCEEDS

The net cash proceeds from the rights offerings, assuming exercise in full of the Preemptive Share Rights, Preemptive ADS Rights, Additional Share Rights and Additional ADS Rights are estimated to be approximately Ch$817,338.1 million (equivalent to approximately US$1,042.1 million, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021) based on an estimated exercise price of Ch$1.80 per common share and US$3.44 per ADS, after deducting expenses payable by us related to the rights offerings of approximately Ch$12,661.9 million (equivalent to approximately US$16.1 million, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021). We expect to use the net proceeds from the rights offerings to support the future growth of Itaú Corpbanca, and to strengthen our capital ratios in line with our principal competitors in Chile and in accordance with Basel III standards. We also expect to use the net proceeds from the rights offerings to acquire an additional 12.36% share ownership in Itaú Corpbanca Colombia.

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SELECTED HISTORICAL FINANCIAL INFORMATION

The selected financial information presented below has been derived from our Unaudited IFRS Financial Statements, and is presented in Chilean pesos. The information included below and elsewhere in this prospectus supplement is not necessarily indicative of our future performance for any period, including for the full year 2021. The tables set forth below are derived from, and should be read in conjunction with, our Unaudited IFRS Financial Statements and the accompanying notes as furnished in the current report on Form 6-K filed with the SEC on October 4, 2021 and incorporated by reference in this prospectus supplement. You should also review our financial statements as of December 31, 2020 and 2019 and for the three years in the period ended December 31, 2020 included in the 2020 Form 20-F and incorporated by reference in this prospectus supplement.

Income statement data (IFRS)

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Balance sheet data (IFRS)

Supplementary Other Financial Data

Certain Non-IFRS Measures

The following table sets forth, for the periods and at the dates indicated, certain selected supplementary financial data that has been derived from our IFRS financial statements, including our Unaudited IFRS Financial Statements incorporated by reference in this prospectus supplement and certain of our other IFRS financial statements which are not included or incorporated by reference into this prospectus supplement, as well as certain non-IFRS measures.

As noted in the footnotes to the table below, we are presenting certain non-IFRS measures because our management believes they provide additional useful information to investors regarding our performance and trends related to our results of operations. Accordingly, we believe that when non-IFRS financial information is viewed with our IFRS financial information, investors are provided with a more meaningful understanding of our ongoing operating performance and financial results. For this reason, we are including in this prospectus supplement information regarding our Adjusted Return on Tangible Equity, Adjusted Total Operating Expenses to Average Loans Ratio, Adjusted Total Operating Expenses to Assets Ratio, Efficiency Ratio, Non-Performing Loans Ratio, Coverage Ratio and Cost of Credit/Loan Portfolio, all as defined below.

These measures are not calculated in accordance with IFRS, and our use of these terms may vary from the use of similarly-titled measures by other companies due to potential inconsistencies in the method of calculation and differences due to items subject to interpretation. We use IFRS measures from period to period on a company-wide basis, as described below. Even though the non-IFRS measures are used by management to assess our financial position, financial results and liquidity and some types of measures are commonly used by investors, they have important

limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our financial position or results of operations as reported under IFRS.

Reconciliation of Certain Non-IFRS Measures

Adjusted Return on Tangible Equity

We define “Adjusted Return on Tangible Equity” to mean (x) Adjusted Net Income which consists of the Consolidated Net Income for the Period from Continuing Operations under IFRS after adding back or subtracting, as the case may be, the effect of impairment, such as (i) goodwill impairment and amortization/impairment of intangible assets generated through business combinations, and (ii) the tax effects of these adjustments, for the period, divided by (y) Tangible Shareholders’ Equity, a non-IFRS financial measure that we calculate as our consolidated Shareholders’ Equity for the period under IFRS, after adding back or subtracting, as the case may be, (i) minority interest, (ii) goodwill, (iii) intangible assets generated by business combinations and (iv) deferred taxes associated with intangible assets due to business combinations. Adjusted Return on Tangible Equity is a non-IFRS accounting measure that we use so that our profitability ratio can be comparable to those of our competitors given that we exclude the effect of fair-market valuation of our equity. Adjusted Return on Tangible Equity is not an accounting measure recognized by IFRS and should not be considered in isolation or as a substitute for net income for the period/year, cash flow from operations or other IFRS measures of operating performance or liquidity. Adjusted Return on Tangible Equity does not have a standardized meaning and our calculation of Adjusted Return on Tangible Equity may not be comparable to other companies’ calculation of similarly titled measures.

Set forth below is a reconciliation of (x) the numerator of our Adjusted Return on Tangible Equity to our Net Income under IFRS and (y) the denominator of our Adjusted Return on Tangible Equity, Tangible Shareholders’ Equity to our Shareholders’ Equity under IFRS, in each case for the periods indicated:

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Adjusted Total Operating Expenses (Chile)

We use the non-IFRS measure of Adjusted Total Operating Expenses for the calculation of the ratios Adjusted Total Operating Expenses to Average Loans Ratio and Adjusted Total Operating Expenses to Assets Ratio, in each case related to our Chilean operations. We define “Adjusted Total Operating Expenses” for the Chilean operations to mean (x) the Total Operating Expenses of our Chilean operations under IFRS, after adding back or subtracting, as the case

may be, goodwill impairment and amortization/impairment of intangible assets generated through business combinations.

Adjusted Total Operating Expenses is a non-IFRS accounting measure that we use so that the Adjusted Total Operating Expenses to Average Loans Ratio and the Adjusted Total Operating Expenses to Assets Ratio of our Chilean operations may be analyzed without the impact of goodwill impairment and amortization/impairment of intangible assets generated through business combinations. Adjusted Total Operating Expenses does not have a standardized meaning and our calculation of Adjusted Total Operating Expenses may not be comparable to other companies’ calculation of similarly titled measures.

Set forth below is a reconciliation of the Adjusted Total Operating Expenses of our Chilean operations (the numerator used for the calculation of both our Adjusted Total Operating Expenses to Average Loans Ratio and Adjusted Total Operating Expenses to Assets Ratio for our Chilean operations) to the Total Operating Expenses for our Chilean operations under IFRS, for the periods indicated:

Operating Income before Provision for Loan Losses (Chile)

We use the non-IFRS measure of Operating Income before Provision for Loan Losses from our Chilean operations for the calculation of the Efficiency Ratio related to our Chilean operations. We define “Operating income before provision for loan losses” of our Chilean operations to mean the Total Operating Income, net of provision for loan losses, interest and fees of our Chilean operations under IFRS, after adding back the provision for loan losses of our Chilean operations. Operating Income before Provision for Loan Losses does not have a standardized meaning and our calculation of Operating Income before provision for Loan Losses may not be comparable to other companies’ calculation of similarly titled measures.

Set forth below is a reconciliation of the Operating Income before Provision for Loan Losses of our Chilean operations (the denominator used for the calculation of the Efficiency Ratio for our Chilean operations) to the Total operating income, net of provision for loan losses, interest and fees under IFRS, for the periods indicated:

Capital Ratios

The primary objectives of capital management are to ensure compliance with regulatory requirements and to maintain a solid risk rating and healthy capital ratios. During the first half of 2021, full year 2020 and full year 2019, we have complied fully with all capital requirements. We are currently considering a number of actions to address our capital ratios going forward, in light of the impact of our pending acquisition of additional interest in Itau Colombia and increasingly stringent Basel III capital requirements.

As of June 30, 2021, our capital ratio, calculated as our regulatory capital divided by our risk weighted assets, in each case under Chilean Banking GAAP and according to current CMF requirements, reached 13.0%. The ratio of our basic capital or common equity tier 1 (CET1) over risk weighted assets, in each case under Chilean Banking GAAP and calculated according to fully-loaded Basel III CMF requirements (“CET1 Ratio”), reached 6.7%. After giving effect to the rights offerings and the use of proceeds therefrom (as to which there can be no assurances), our pro forma CET1 Ratio, assuming exercise in full of the Preemptive Share Rights, Preemptive ADS Rights, Additional Share Rights and Additional ADS Rights, would reach 8.9%.

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CAPITALIZATION

The following table sets forth our capitalization as of June 30, 2021, derived from our Unaudited IFRS Financial Statements incorporated by reference herein. In our opinion, the financial data in the table below includes all adjustments necessary to present fairly our capitalization at the dates presented:

You should read this table in conjunction with the information under “Selected Historical Financial Information” elsewhere in this prospectus supplement and our Unaudited IFRS Financial Statements incorporated by reference herein.

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RIGHTS OFFERINGS

General Information

On July 13, 2021, our shareholders approved an increase in our authorized capital through the issuance of up to 461,111,111,111 additional common shares. If fully subscribed in the rights offerings, 461,111,111,111 new common shares would be placed for Ch$1.80 per share for a total of up to Ch$830,000,000,000, or approximately U.S.$1,058,228,041.77 based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021.

Under Chilean law, existing shareholders have preemptive rights to subscribe for additional common shares issued in a capital increase in proportion to their interest in us. We have voluntarily elected to register the rights offerings with the SEC, in order to enable U.S. holders of our common shares and holders of ADSs to participate in the rights offerings. The Preemptive ADS Rights and the associated Additional ADS Rights will be transferable and are expected to be admitted for trading on the NYSE.

We are offering up to 461,111,111,111 common shares, including common shares represented by ADSs, in the rights offerings to holders of our common shares and of the ADSs representing our common shares.

Preemptive ADS Rights Offering and Statutory Preemptive Rights Offering

If you are a holder of ADSs at 5:00 p.m. (New York City time) on October 4, 2021 which is the ADS record date, you will receive transferable Preemptive ADS Rights evidencing the right to subscribe for new ADSs. You will receive approximately 0.899892716148 Preemptive ADS Rights for every ADS held on the ADS record date. No fractional Preemptive ADS Rights will be issued. All entitlements to Preemptive ADS Rights will be reduced the next lower integral number of Preemptive ADS Rights without compensation. One full Preemptive ADS Right will entitle you to purchase one new ADS at the ADS Subscription Price, which will be equal to the U.S. dollar equivalent of Ch$2,700, which is 1,500 times the share subscription price. One full Preemptive ADS Right is required to subscribe for one new ADS at the ADS Subscription Price. We will only accept subscriptions for whole numbers of new ADSs.

We estimate the ADS Subscription Price will be US$3.44 per ADS, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021. Since the ADS Subscription Price will not be known at the time the Preemptive ADS Rights are exercised, the final applicable ADS Subscription Price will be determined based on the exchange rate assigned by the ADS Rights Agent, on or about October 28, 2021 (in the case of Preemptive ADS Rights) and on or about November 12, 2021 (in the case of Additional ADS Rights). Holders of Preemptive ADS Rights that wish to subscribe must deposit the ADS Deposit Amount for each new ADS subscribed for, as described herein. The ADS Deposit Amount is the estimated ADS Subscription Price plus 10% of such amount to cover (1) currency rate fluctuations to the date on which the ADS Rights Agent converts the Chilean pesos subscription price in connection with the exercise of the Preemptive Share Rights underlying the Preemptive ADS Rights or the exercise of Additional Share Rights underlying the Additional ADS Rights, as the case may be and (2) the fee of the ADS Depositary of US$0.05 per new ADS.

The ADS Depositary will act as ADS Rights Agent in respect of the Preemptive ADS Rights and Additional ADS Rights. The ADS Rights Agent will deliver Preemptive ADS Rights to DTC for allocation by DTC to the participants having ADSs credited to their accounts as of the ADS record date.

If you are a registered holder of our common shares by 11:59 p.m. on September 28, 2021, which is the Preemptive Share Right record date, you will receive transferable Preemptive Share Rights evidencing the right to subscribe for new common shares of our common shares. You will receive approximately 0.899892716148 Preemptive Share Rights for every common share held on the Preemptive Share Right record date. The Preemptive Share Rights will be transferable and will be listed for trading on the Chilean Stock Exchanges. One full Preemptive Share Right will entitle you to purchase one new common share at a subscription price of Ch$1.80 (equivalent to approximately US$0.0023, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021) per common share.

Subsequent Statutory Preemptive Rights Offering

To the extent that there are any Unsubscribed Shares, the Subscribing Holders or their assignees, will be entitled to receive Additional Share Rights to subscribe a proportionate share of the Unsubscribed Shares, based on the number of new common shares that the Subscribing Holder subscribed and paid for in the Statutory Preemptive Rights Offering relative to the total number of new common shares subscribed and paid for during the Statutory Preemptive Rights Offering, including shares underlying new ADSs subscribed and paid for in the Preemptive ADS Rights Offering.

The exact number of Additional Share Rights each eligible Subscribing Holder will be entitled to receive will not be determined until after the completion of the Statutory Preemptive Rights Offering. We will announce the number of Additional Share Rights that eligible Subscribing Holders or their assignees are entitled to receive for each new common share subscribed and paid for in the Statutory Preemptive Rights Offering as soon as practicable after the completion of the Statutory Preemptive Rights Offering and before the commencement of the Subsequent Statutory Preemptive Rights Offering. Each full Additional Share Right will entitle the holder to subscribe for one new common share at a subscription price of Ch$1.80 per share (equivalent to approximately US$0.0023, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021), the same share subscription price as in the Statutory Preemptive Rights Offering, payable in cash in Chilean pesos. One full Additional Share Right is required to subscribe for one new common share at the share subscription price. We will only accept subscriptions for whole common shares and will truncate any subscriptions submitted with respect to fractional rights to the nearest whole number of Additional Share Rights that may be exercised.

Subscribing ADS Rights Holders may, at the same time they exercise their Preemptive ADS Rights in full in the Preemptive ADS Rights Offering, offer to subscribe for Additional ADS Rights but not more than their respective initial entitlement amounts of ADSs. To the extent that Additional Share Rights are made available after the Statutory Preemptive Rights Offering, the ADS Rights Agent will allocate additional new ADSs to the Subscribing ADS Rights Holders that exercised the Additional ADS Rights, based on the number of new common shares underlying the new ADSs that the Subscribing ADS Rights Holder subscribed and paid for in the Statutory Preemptive Rights Offering relative to the total number of new common shares subscribed and paid for during the Statutory Preemptive Rights Offering, including shares underlying new ADSs subscribed and paid for in the Preemptive ADS Rights Offering. Subscribing ADS Rights Holders that wish to exercise the Additional ADS Rights must do so at the time they exercise their Preemptive ADS Rights, and must indicate with their subscription the maximum amount of additional new ADSs they seek to subscribe and must pay the full ADS Deposit Amount as described above with respect to such amount of additional new ADSs. Because the full amount of Unsubscribed Shares will not be known prior to the ADS Rights Expiration Time, Subscribing ADS Rights Holders may receive fewer additional new ADSs than they requested based on the pro rata allocation of the Unsubscribed Shares described above. The ADS Rights Agent will return any surplus ADS Deposit Amount to the Subscribing ADS Rights Holder as promptly as practicable following the Subsequent Statutory Preemptive Rights Offering. The amount of any such surplus amount to be returned may be a result of fewer additional new ADSs being issued in connection with Unsubscribed Shares following the allocations in the Subsequent Statutory Preemptive Rights Offering or from exchange rate fluctuations relating to the determination of the final applicable ADS Subscription Price as described above, which may not be the same as the ADS Subscription Price determined with respect to the Preemptive ADS Rights.

Common shareholders and ADS holders generally will be treated alike in the rights offerings, except that:

The procedures for exercising Preemptive Share Rights, Preemptive ADS Rights, Additional Share Rights and the Additional ADS Rights and information about their purchase and sale are described below.

Our shareholders, at the meeting that approved the capital increase, authorized our Board of Directors to amend or not conduct the Subsequent Statutory Preemptive Rights Offering.

Further Offerings of Shares Not Subscribed

To the extent there remain Unsubscribed Shares after the Subsequent Statutory Preemptive Rights Offering, those shares can be freely offered to shareholders and/or third parties from time to time and in amounts to be set forth by the Board of Directors; provided, however, that (i) during the 30 days after the end of the Statutory Preemptive Rights Offering the offer of shares to third parties cannot be made on terms and conditions more favorable than those in effect for the Statutory Preemptive Rights Offering, and (ii) after such 30-day period, the offer of shares to third parties cannot be made on terms and conditions different than those in effect for the Statutory Preemptive Rights Offering unless made on the Chilean Stock Exchanges.

Offers and Sales in Certain Jurisdictions

Investors should note that the offer, sale, exercise or acceptance of, or the subscription for, any of the securities described in this prospectus supplement to or by persons located or resident in jurisdictions other than Chile and the United States may be restricted or prohibited by the laws of the relevant jurisdiction. No Preemptive ADS Rights or Additional ADS Rights will be credited to any account, nor will any new ADSs be delivered to investors in any jurisdiction in which it would be illegal to do so, or where doing so would trigger any prospectus, registration, filing or approval requirement or otherwise violate the securities laws of such jurisdictions or be prohibited. We reserve absolute discretion in determining whether any holder of ADSs located or resident outside Chile and the United States may participate in the rights offerings.

Each person who exercises, accepts, subscribes for or purchases any of the securities described in this prospectus supplement must do so in accordance with the restrictions set forth in this prospectus supplement.

Impact of Rights Offerings on Existing Shareholders and ADS Holders

Our controlling shareholder, Itaú Unibanco Holding, has stated its intention to subscribe for its pro rata share in the Statutory Preemptive Rights Offering. If Itaú Unibanco Holding exercises its Statutory Preemptive Rights in full, it will subscribe for a total of 180,848,580,767 common shares, consistent with its ownership interest in us of 39.22%. In addition, Itaú Unibanco Holding has obtained authorization from the CMF to acquire additional common shares in the capital increase in excess of its pro rata share ownership in us. However, as of the date of this prospectus supplement, we do not know how many shares may be left over after the Statutory Preemptive Rights Offering or how many unsubscribed shares, if any, Itaú Unibanco Holding would subscribe for in the Subsequent Statutory Preemptive Rights

Offering. Therefore, we cannot predict if Itaú Unibanco Holding’s ownership interest in us will be greater than 39.22% after the rights offerings.

Preemptive ADS Rights Offering and Additional ADS Rights Subscription

Summary Timetable

The timetable below lists some important dates relating to the Preemptive ADS Rights Offering:

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The following is a summary of the important terms of the Preemptive ADS Rights.

Preemptive ADS Rights Offering

If you hold ADSs on the ADS record date, you will receive Preemptive ADS Rights evidencing the right to subscribe for new ADSs. You will be entitled to receive approximately 0.899892716148 Preemptive ADS Rights for every ADS you hold on the ADS record date. One full Preemptive ADS Right will entitle you to purchase one new ADS at the ADS Subscription Price. We estimate the ADS Subscription Price will be US$3.44 per ADS, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021. Since the ADS Subscription Price will not be

known at the time the Preemptive ADS Rights are exercised, the final applicable ADS Subscription Price will be determined based on the exchange rate assigned by The Bank of New York Mellon, as ADS Rights Agent, on or about October 28, 2021 (in the case of Preemptive ADS Rights) and on or about November 12, 2021(in the case of Additional ADS Rights). Holders of Preemptive ADS Rights that wish to subscribe must deposit US$3.79, or the ADS Deposit Amount, for each new ADS subscribed for. The ADS Deposit Amount is the estimated ADS Subscription Price plus 10% of such amount to cover (1) currency rate fluctuations to the date on which The ADS Rights Agent converts the Chilean pesos subscription price in connection with the exercise of the Preemptive Share Rights underlying the Preemptive ADS Rights or the exercise of Additional Share Rights underlying the Additional ADS Rights, as the case may be and (2) the fee of the ADS Depositary of US$0.05 per new ADS. You will only receive a whole number of Preemptive ADS Rights. All entitlements to Preemptive ADS Rights will be reduced to the next lower integral number of Preemptive ADS Rights without compensation.

You may subscribe for all or a portion of the ADSs to which the Preemptive ADS Rights you receive entitle you, but you may only subscribe for a whole number of new ADSs.

See “Risk Factors—Risks Relating to the Rights Offering—ADS holders will be subject to exchange rate and other risks if they participate in this rights offering” for a description of risks relating to the exchange rate applicable to the ADS subscription price.

Preemptive ADS Rights Exercise Period

Preemptive ADS Rights may be exercised during the period from October 5, 2021 through 5:00 p.m. (New York City time) on October 26, 2021, which is the ADS Rights Expiration Time. If you do not exercise your Preemptive ADS Rights within the Preemptive ADS Rights exercise period, your Preemptive ADS Rights will expire, and you will have no further rights to purchase ADSs. See “—Unexercised Preemptive ADS Rights.”

The exercise of your Preemptive ADS Rights is irrevocable and may not be modified or cancelled.

ADS Record Date

The record date for determining the holders of ADSs entitled to receive Preemptive ADS Rights is October 4, 2021. Only holders of record of ADSs at 5:00 p.m. (New York City time) on the ADS record date will be entitled to receive Preemptive ADS Rights.

Additional ADS Rights Subscription

Subscribing ADS Rights Holders may, at the same time they exercise their Preemptive ADS Rights in full in the Preemptive ADS Rights Offering, offer to subscribe for Additional ADS Rights but not more than their respective initial entitlement amounts of ADSs. To the extent that Additional Share Rights are made available after the Statutory Preemptive Rights Offering, the ADS Rights Agent will allocate additional new ADSs to the Subscribing ADS Rights Holders that exercised the Additional ADS Rights, based on the number of new common shares underlying the new ADSs that the Subscribing ADS Rights Holder subscribed and paid for in the Statutory Preemptive Rights Offering relative to the total number of new common shares subscribed and paid for during the Statutory Preemptive Rights Offering, including shares underlying new ADSs subscribed and paid for in the Preemptive ADS Rights Offering. Subscribing ADS Rights Holders that wish to exercise the Additional ADS Rights must do so at the time they exercise their Preemptive ADS Rights, and must indicate with their subscription the maximum amount of additional new ADSs they seek to subscribe and must pay the full ADS Deposit Amount as described above with respect to such amount of additional new ADSs. Because the full amount of Unsubscribed Shares will not be known prior to the ADS Rights Expiration Time, Subscribing ADS Rights Holders may receive fewer additional new ADSs than they requested based on the pro rata allocation of the Unsubscribed Shares described above. The ADS Rights Agent will return any surplus ADS Deposit Amount to the Subscribing ADS Rights Holder as promptly as practicable following the Subsequent Statutory Preemptive Rights Offering. The amount of any such surplus amount to be returned may be a result of fewer additional new ADSs being issued in connection with Unsubscribed Shares following the allocations in the Subsequent Statutory Preemptive Rights Offering or from exchange rate fluctuations relating to the determination of the final

applicable ADS Subscription Price as described above, which may not be the same as the ADS Subscription Price determined with respect to the Preemptive ADS Rights.

We will only accept subscriptions for whole numbers of new ADSs under the Additional ADS Rights.

ADS Rights Agent

The Bank of New York Mellon, the depositary for the ADSs under the Deposit Agreement, is acting as the ADS Rights Agent to accept the exercise of the Preemptive ADS Rights for the subscription of the new ADSs offered hereby and to distribute the new ADSs to subscribing holders of Preemptive ADS Rights.

ADS Subscription Price

The ADS subscription price is equal to the U.S. dollar equivalent of Ch$2,700, which is 1,500 times the share subscription price. The ADS Rights Agent will make the conversion from U.S. dollars into Chilean pesos at a rate determined by it at that time in order to pay the subscription price for the underlying Preemptive Share Rights and Additional Share Rights underlying the Preemptive ADS Rights.

We estimate the ADS Subscription Price will be US$3.44 per ADS, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021. Since the ADS Subscription Price will not be known at the time the Preemptive ADS Rights are exercised, the final applicable ADS Subscription Price will be determined based on the exchange rate assigned by The Bank of New York Mellon, as ADS Rights Agent, on or about October 28, 2021 (in the case of Preemptive ADS Rights) and on or about November 12, 2021 (in the case of Additional ADS Rights). Holders of Preemptive ADS Rights that wish to subscribe must deposit US$3.79, or the ADS Deposit Amount, for each new ADS subscribed for. The ADS Deposit Amount is the estimated ADS Subscription Price plus 10% of such amount to cover (1) currency rate fluctuations to the date on which the ADS Rights Agent converts the Chilean pesos subscription price in connection with the exercise of the Preemptive Share Rights underlying the Preemptive ADS Rights or the exercise of Additional Share Rights underlying the Additional ADS Rights, as the case may be and (2) the fee of the ADS Depositary of US$0.05 per new ADS. If the deposited amount is insufficient to cover the actual ADS Subscription Price in Chilean pesos plus conversion expenses, ADS issuance fees and financial transaction taxes for ADSs you are subscribing for, you will have to pay the deficiency to the ADS Rights Agent. If you do not pay the deficiency, the ADS Rights Agent may reduce the amount of new ADSs subscribed or sell a portion of your new ADSs to cover the deficiency. See “Risk Factors—Risks Relating to the Rights Offering—ADS holders will be subject to exchange rate and other risks if they participate in this rights offering” for a description of risks relating to the exchange rate applicable to the ADS subscription price.

We will only accept subscriptions for whole numbers of new ADSs.

Following the ADS Rights Expiration Time, the ADS Rights Agent will purchase the aggregate ADS Subscription Price for all subscriptions received prior to the ADS Rights Expiration Time, pay that amount to Itaú Corpbanca, the ADS Depositary’s custodian in Chile, and instruct the ADS Depositary’s custodian to exercise the corresponding number of Preemptive Share Rights through DCV Registros in accordance with the procedures for subscription of the Preemptive Share Rights described below under “—Statutory Preemptive Rights Offering and Subsequent Statutory Preemptive Rights Offering to Holders of Common Shares—Procedure for Exercising Preemptive Share Rights and Additional Share Rights.”

Settlement of the Preemptive Share Rights and Additional Share Rights in Chile will be in accordance with the procedures described under “—Statutory Preemptive Rights Offering and Subsequent Statutory Preemptive Rights Offering to Holders of Common Shares—Payment and Delivery of New Common Shares.” Subscribing holders of Preemptive ADS Rights and Additional ADS Rights will not receive delivery of their new ADSs until after the settlement of the Additional Share Rights, regardless of whether the subscription was in respect of the Preemptive ADS Rights entitlement or pursuant to the Additional ADS Rights.

The ADS Rights Agent will continue to accept subscriptions from Preemptive ADS Rights holders and Additional ADS Rights holders until the Preemptive ADS Rights Expiration Time.

Procedure for Exercising Preemptive ADS Rights and Additional ADS Rights

The exercise of Preemptive ADS Rights and Additional ADS Rights is irrevocable and may not be canceled or modified. You may exercise your Preemptive ADS Rights and Additional ADS Rights as follows:

Subscription by DTC Participants. If you hold Preemptive ADS Rights through The Depository Trust Company (DTC), you can exercise your Preemptive ADS Rights and the subscribed Additional ADS Rights by delivering completed subscription instructions for new ADSs through DTC’s automated system and instructing DTC to charge your applicable DTC account for the ADS Deposit Amount for the new ADSs subscribed for and to deliver such amount to the ADS Rights Agent. DTC must receive the subscription instructions and the payment of the ADS Deposit Amount for the new ADSs by the Preemptive ADS Rights Expiration Time.

Subscription by Beneficial Owners. If you hold Preemptive ADS Rights or Additional ADS Rights in a securities account with a broker or other securities intermediary and wish to subscribe for new ADSs, you should timely contact the securities intermediary through which you hold Preemptive ADS Rights or Additional ADS Rights to arrange for their exercise and to arrange for payment of the ADS Deposit Amount. Direct and indirect participants in DTC will establish their own cutoff dates and times to receive subscription instructions, which will be earlier than the Preemptive ADS Rights Expiration Time stated in this prospectus supplement. You should contact your broker or other securities intermediary to determine the cutoff date and time that applies to you.

Information Agent. For additional information regarding the Preemptive ADS Rights and Additional ADS Rights and the procedures for exercising Preemptive ADS Rights and the Additional ADS Rights, contact our information agent, D.F. King & Co., Inc.:

D.F. King & Co., Inc.

48 Wall Street, 22nd Floor

New York, New York 10005

Shareholders may call toll-free: (888) 887-0082

Banks and Brokers may call: (212) 269-5550

Email: ITCB@dfking.com

Listing and Transfer of Preemptive ADS Rights

The Preemptive ADS Rights are expected to be admitted for trading on the NYSE under the symbol “ITCB RT.” The CUSIP number for the Preemptive ADS Rights is “45033E113.” We expect that trading in the Preemptive ADS Rights on the NYSE will commence on October 5, 2021 and continue until October 21, 2021.

Holders who hold their Preemptive ADS Rights through DTC or in a brokerage or custodian account with a participant in DTC may transfer their Preemptive ADS Rights by book-entry transfer through DTC or a DTC participant from and including October 5, 2021 through and including October 26, 2021.

Preemptive ADS Rights may not be exchanged for Preemptive Share Rights and Preemptive Share Rights may not be exchanged for Preemptive ADS Rights.

Delivery of ADSs

The ADS Depositary will deliver new ADSs purchased pursuant to the Preemptive ADS Rights Offering as soon as practicable after the receipt of the common shares by the Custodian in Chile. New ADSs will rank equally in all respects with existing ADSs.

Unexercised Preemptive ADS Rights

Preemptive ADS Rights that are not exercised by 5:00 p.m. (New York City time) on October 26, 2021 will expire and will have no further rights to purchase ADSs. Holders of ADSs who transfer or do not exercise their Preemptive ADS Rights will have their percentage ownership interest in us diluted.

To the extent that any Preemptive ADS Rights expire unexercised, the ADS Depositary will attempt to sell the Preemptive Share Rights underlying the unexercised Preemptive ADS Rights on the Chilean Stock Exchanges, and to the extent a premium can be recognized over the cost of any such sale, to convert such premium from Chilean pesos into U.S. dollars, and the ADS Rights Agent will distribute the net sales proceeds after deduction of all applicable fees and withholding in respect of taxes to the applicable holders of the unexercised Preemptive ADS Rights on a pro rata basis. If the Preemptive Share Rights underlying such unexercised Preemptive ADS Rights cannot be sold, they will be allowed to expire unexercised, and the corresponding Preemptive ADS Rights will have no further value.

None of the ADS Depositary, the ADS Rights Agent or Itaú Corpbanca can guarantee the ability of the ADS Rights Agent to effectuate such sales or the price at which any Preemptive Share Rights will be sold, which will depend on the market price available at the time the Preemptive Share Rights are sold.

Statutory Preemptive Rights Offering and Subsequent Statutory Preemptive Rights Offering to Holders of Common Shares

Summary Timetable

The timetable lists some important dates relating to the Statutory Preemptive Rights Offering with respect to Statutory Preemptive Share Rights and the Subsequent Statutory Preemptive Rights Offering:

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Statutory Preemptive Rights Offering to Holders of Common Shares

Preemptive Share Rights

If you hold common shares on the Preemptive Share Rights record date, you will receive transferable Preemptive Share Rights evidencing the right to subscribe for new common shares. You will receive approximately

0.899892716148 of a transferable Preemptive Share Right to subscribe for one new common shares for every common share you hold on Preemptive Share Rights record date. One full Preemptive Share Right will entitle you to purchase one new common share the subscription price of Ch$1.80 (equivalent to approximately US$0.0023, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021) per new share, payable in cash in Chilean pesos. However, we will accept subscriptions for whole shares only and will not issue fractional shares or cash in lieu of fractional shares. Accordingly, we will truncate any subscription submitted for fractional shares to the nearest whole number of shares and holders of Preemptive Share Rights will lose the value of any Preemptive Share Rights held by them in excess of the highest multiple of Preemptive Share Rights that will entitle them to whole new common shares, unless they sell such fractional Preemptive Share Rights. However, if you exercise in full your right to subscribe for shares in the Statutory Preemptive Rights Offering, you will be entitled to receive Additional Share Rights representing the right to subscribe for a pro rata portion of the Unsubscribed Shares in the Subsequent Statutory Preemptive Rights Offering.

Preemptive Share Rights will be registered in book-entry form at the Chilean clearing system, the Depósito Central de Valores S.A. Depósito de Valores (the “DCV”), in an account in the shareholder’s or its nominee’s name. If you were a common shareholder of record on the Preemptive Share Rights record date, you should receive from the broker or custodian through which you hold your common shares a written confirmation of the issuance of Preemptive Share Rights. Preemptive Share Rights will be entered into shareholders’ book-entry accounts upon the commencement of the Statutory Preemptive Rights Offering.

Preemptive Share Rights will be transferable and will trade on the Chilean Stock Exchanges upon the commencement of the Statutory Preemptive Rights Offering. Preemptive Share Rights will not be listed on any stock exchange in the United States. If you transfer or sell your Preemptive Share Rights, you will have no further rights to purchase new common shares in the rights offerings with respect to the Preemptive Share Rights transferred or sold and will not be eligible to receive any Additional Share Rights.

Preemptive Share Rights Exercise Period

Preemptive Share Rights may be exercised during the 30-calendar-day period from October 4, 2021 through 11:59 p.m. (Santiago, Chile time) on November 2, 2021. Following the Preemptive Share Rights expiration date, the Preemptive Share Rights will expire and common shareholders will have no further rights.

The exercise of your Preemptive Share Rights is irrevocable and may not be modified or cancelled.

Preemptive Share Rights Record Date

The record date for the determination of our common shareholders entitled to receive Preemptive Share Rights is September 28, 2021. Only common shareholders of record at 11:59 p.m. (Santiago, Chile time) on the Preemptive Share Rights record date will be entitled to receive Preemptive Share Rights.

Subsequent Statutory Preemptive Rights Offering to Holders of Common Shares

Additional Share Rights

If you exercise in full your Preemptive Share Rights in the Statutory Preemptive Rights Offering, you will be entitled to receive Additional Share Rights to purchase new common shares representing a proportionate share of the Unsubscribed Shares, based on the number of new common shares that you subscribed and paid for in the Statutory Preemptive Rights Offering relative to the total number of new common shares subscribed and paid for in the Statutory Preemptive Rights Offering.

The exact number of Additional Share Rights each eligible Subscribing Holder will be entitled to receive will not be determined until after the completion of the Statutory Preemptive Rights Offering. We will announce the number of Additional Share Rights that eligible Subscribing Holders are entitled to receive for each new common share subscribed and paid for in the Statutory Preemptive Rights Offering as soon as practicable after the completion of the

Statutory Preemptive Rights Offering and before the commencement of the Subsequent Statutory Preemptive Rights Offering for the Unsubscribed Shares. One full Additional Share Right will entitle you to subscribe for one new common share at a subscription price of Ch$1.80 (equivalent to approximately US$0.0023, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021) per new common share, the same share subscription price payable in the Statutory Preemptive Rights Offering. One full Additional Share Right is required to subscribe for one new common share at the share subscription price. However, we will accept subscriptions for whole shares only and will not issue fractional shares or cash in lieu of fractional shares. Accordingly, we will truncate any subscription submitted for fractional shares to the nearest whole number of shares and holders of Additional Share Rights will lose the value of any Additional Share Rights held by them in excess of the highest multiple of Additional Share Rights that will entitle them to whole new common shares, unless they sell such fractional Additional Share Rights.

Additional Share Rights will be registered in book-entry form at the Chilean clearing system, the DCV, in an account in the shareholder’s or its nominee’s name. If you were a common shareholder of record on the Additional Share Rights record date, you should receive from the broker or custodian through which you hold your common shares a written confirmation of the issuance of Additional Share Rights. Additional Share Rights will be entered into shareholders’ book-entry accounts upon the commencement of the Subsequent Statutory Preemptive Rights Offering.

Additional Share Rights will be transferable and will trade on the Chilean Stock Exchanges upon the commencement of the Subsequent Statutory Preemptive Rights Offering. Additional Share Rights will not be listed on any stock exchange in the United States. If you transfer or sell your Additional Share Rights, you will have no further rights to purchase new common shares in the Subsequent Statutory Preemptive Rights Offering with respect to the Additional Share Rights transferred or sold.

Additional Share Rights Exercise Period

Additional Share Rights may be exercised during the six-calendar-day period, which is expected to commence on November 11, 2021 and continue until 11:59 p.m. (Santiago, Chile time) on November 16, 2021. Following the Additional Share Rights expiration date, the Additional Share Rights will expire and common shareholders will have no further rights.

The exercise of your Additional Share Rights is irrevocable and may not be modified or cancelled.

Additional Share Rights Record Date

The record date for the determination of our common shareholders entitled to receive Additional Share Rights is September 28, 2021. Only common shareholders of record at 11:59 p.m. (Santiago, Chile time) on the Additional Share Rights record date or the assignees thereof will be entitled to receive Additional Share Rights.

Eligibility to Receive Additional Share Rights

Only Subscribing Holders or the assignees thereof, who have exercised in full their Preemptive Share Rights in the Statutory Preemptive Rights Offering, will be entitled to receive Additional Share Rights.

Share Subscription Price

The subscription price for new common shares purchased upon the exercise of Preemptive Share Rights and the Additional Share Rights is Ch$1.80 (equivalent to approximately US$0.0023, based on our own exchange rate of Ch$784.33 per US$1.00 as of September 23, 2021) per common share. The share subscription price is payable in cash in Chilean pesos.

Procedure for Exercising Preemptive Share Rights and Additional Share Rights

In order to exercise Preemptive Share Rights or Additional Share Rights, a holder of Preemptive Share Rights or Additional Share Rights must execute and deliver an exercise notice and a signed share subscription agreement to us

through DCV Registros, together with payment by such exercising shareholder of the full share subscription price for the total number of our common shares for which he or she is subscribing. Deposit in the mail will not constitute delivery to DCV Registros until actually received.

The forms of the exercise notice and the share subscription agreement will be made available to each shareholder of record as of the Preemptive Share Rights record date or Additional Share Rights record date, as applicable, through DCV Registros upon the commencement of the Statutory Preemptive Rights Offering or Subsequent Statutory Preemptive Rights Offering, as applicable. The share subscription agreement must be completed with the following information: (i) the number of shares to be subscribed by the subscribing shareholder at the share subscription price; (ii) the method of payment for the subscribed shares; and (iii) an election for the subscribing shareholder to receive their new common shares either in the form of a share certificate or in electronic book-entry form.

Common shares held directly in Chile are generally held in electronic book-entry form at the DCV, as the depositary entity, either directly by the shareholders on their own behalf or through local broker-dealers, as custodians. If you hold your shares at the DCV on your own behalf and you wish to subscribe for common shares by exercising Preemptive Share Rights or Additional Share Rights, you must complete the exercise notice and share subscription agreement to be made available to you in connection with the Preemptive Share Rights or Additional Share Rights and submit it to us through DCV Registros.

If you hold shares through a local broker-dealer and you wish to subscribe for common shares by exercising Preemptive Share Rights or Additional Share Rights, you should ask the local broker-dealer acting as your custodian to provide you with the exercise notice and share subscription agreement to allow you to subscribe for shares. You must complete the exercise notice and share subscription agreement and ask your local broker-dealer to submit them to us on your behalf through DCV Registros. Please consult with your local broker-dealer regarding the method of payment for the common shares for which you wish to subscribe. Your broker-dealer may request that you fill out additional documentation in connection with the subscription.

Any shareholder who is a natural person should be prepared to show to his or her broker-dealer, his or her identity card or passport, taxpayer registration card (RUT) and a document proving the residence of the shareholder. Any shareholder that is a legal entity must be prepared to present certified copies of its bylaws or other organization documents, the resolution by which that entity’s executive officers were elected and any other documents requested by its broker-dealer. In the case of proxies, an original or certified copy of the document that grants powers of representation must be presented. It is the shareholder’s responsibility to contact a broker-dealer, sufficiently in advance of the rights expiration date to enable the timely exercise of your rights. If you do not know whether you hold shares through the DCV or a local broker-dealer, you should ask your representative, broker or other nominee.

If you hold your common shares through a custodian in Chile, please consult with your custodian as to the method of instruction and payment if you wish to exercise your rights. You will elect the method of delivering the application for subscription and paying the subscription price, and you will bear any risk associated with it.

You or your custodian may continue to exercise Preemptive Share Rights until November 2, 2021. If you or your custodian fails to exercise your rights by November 2, 2021, your Preemptive Share Rights will lapse and you will have no further rights. You or your custodian may continue to exercise Additional Share Rights until November 16, 2021. If you or your custodian fails to exercise your rights by November 16, 2021, your Additional Share Rights will lapse and you will have no further rights.

We will determine all questions about the timeliness, validity and form of and eligibility for exercising the Preemptive Share Rights or Additional Share Rights. Our determinations will be final and binding. We may decide to waive a defect or irregularity in subscriptions for new common shares, or permit you to correct a defect or irregularity within the time we determine. Instructions will not be considered, received or accepted until we have waived all irregularities or you have cured them in time. Neither the Custodian nor we have to notify you of any defect or irregularity in submitting instructions. The Custodian and we will not incur any liability for failing to do so.

Purchase and Sale of Preemptive Share Rights and Additional Share Rights

You may exercise, sell or transfer your Preemptive Share Rights or Additional Share Rights to others. You may purchase and sell your Preemptive Share Rights or Additional Share Rights through brokers.

Payment and Delivery of New Common Shares

As described above under “—Procedure for Exercising Preemptive Share Rights and Additional Share Rights,” each holder of Preemptive Share Rights or Additional Share Rights that validly delivers an exercise notice and a share subscription agreement and the payment of the full share subscription price for the total number of shares for which he or she is subscribing to us will be registered as the holder of the new common shares on the date the exercise notice, share subscription agreement and share subscription price are accepted by DCV Registros. However, if you elect to receive your new common shares in certificated form, we will issue the certificate for the new common shares within ten Chilean business days following the effective date of the share subscription agreement. You may sell or trade the new common shares immediately after the delivery of the new common shares since the new common shares are expected to be listed on the Chilean Stock Exchanges on or before such date. New common shares will rank equally in all respects with existing common shares.

Announcement of Number of Shares Subscribed in the Rights Offerings

We will publish in a press release on our website, the total number of new common shares subscribed by our shareholders pursuant to the exercise of their Preemptive Share Rights and the remaining shares to be included in the Subsequent Statutory Preemptive Rights Offering. We will also send a letter to each Subscribing Holder indicating the number of Additional Share Rights it will be entitled to subscribe for in the Subsequent Statutory Preemptive Rights Offering.

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TAXATION

Material U.S. Federal Income Tax Consequences

This discussion is based on the U.S. Internal Revenue Code of 1986, as amended (the “Code”), administrative pronouncements, judicial decisions and final, temporary and proposed Treasury regulations, all as of the date hereof. These authorities are subject to change, possibly with retroactive effect, which could affect the continued validity of this summary.

The following is a summary of certain material U.S. federal income tax consequences to U.S. Holders (as defined below) of receiving, exercising, and disposing of rights (“share rights”) to receive new common shares (“New Shares”) and rights (“ADS rights”) to receive new ADSs (“New ADSs”) and of owning and disposing of New Shares and New ADSs, but it does not purport to be a comprehensive description of all of the tax considerations that may be relevant to a particular person’s investment decision, and is based on the assumption that there is no applicable income tax treaty in effect between the United States and Chile (see “Material Chilean Tax Consequences—Chilean Tax Consequences of Ownership of Shares or ADSs by Foreign Holders—Ownership and Disposition of Shares and ADSs” below). Further, this summary does not address any aspect of non-U.S., state, local or estate or gift taxation, the 3.8% tax imposed on certain net investment income, or certain aspects of U.S. federal income taxation that may be applicable to holders or beneficial owners subject to special treatment under the Code, including, but not limited to:

A “U.S. Holder” for purposes of this discussion is a beneficial owner of ADSs, existing common shares, share rights, ADS rights, New Shares or New ADSs that is, for federal income tax purposes:

If a partnership holds the existing common shares, ADSs, share rights, ADS rights, New Shares or New ADSs, as the case may be, the U.S. federal income tax treatment of a partner will generally depend on the status of the partner and the tax treatment of the partnership. Partnerships holding existing common shares, ADSs, share rights, ADS rights, New Shares or New ADSs and partners in such partnerships should consult their tax advisors as to the particular U.S.

federal income tax consequences to them of the receipt, holding and disposition of the share rights, ADS rights, New Shares or New ADSs, as the case may be.

This discussion assumes, and we expect, that we are not, and we will not become, a passive foreign investment company for U.S. federal income tax purposes. This discussion addresses only U.S. Holders of ADSs, existing common shares, share rights, ADS rights, New Shares or New ADSs that hold such securities as capital assets.

In addition, this summary is based in part on representations of the ADS Depositary and assumes that each obligation provided for in or otherwise contemplated by the Deposit Agreement or any other related agreements will be performed in accordance with its terms.

Each U.S. Holder is urged to consult its own tax advisor as to the U.S. federal, state, local, non-U.S. and any other tax consequences of receiving, exercising or disposing of share rights or ADS rights and of owning and disposing of New Shares or New ADSs in their particular circumstances.

Material U.S. Federal Income Tax Consequences of the Rights Offerings

Receipt of Share Rights and ADS Rights

Under Section 305 of the Code, a shareholder who receives a share right or an ADS right will, if such receipt is treated as a “disproportionate distribution” within the meaning of Section 305 of the Code, be treated as having received a taxable distribution in an amount equal to the value of such share right or ADS right. In general, a shareholder who receives a share right or ADS right will be treated as having received a “disproportionate distribution” (and thus a taxable distribution) if a shareholder’s proportionate interest in the earnings and profits or assets of the corporation is increased and any other shareholder receives a distribution (or a deemed distribution) of cash or other property. While the issue is not free from doubt, we believe that the receipt of share rights or ADS rights by a U.S. Holder should not be treated as a “disproportionate distribution” under Section 305(b) of the Code. However, due to the uncertainties in the application of Section 305 of the Code, there can be no assurance that such treatment will not be challenged by the United States Internal Revenue Service (“IRS”) or, if challenged, upheld. If the distribution of share rights or ADS rights were treated as a taxable distribution, the fair market value of the share right or ADS right a U.S. Holder receives would be taxable to such U.S. Holder as a dividend. The U.S. Holder’s tax basis in such share right or ADS right would equal the amount of the dividend and the U.S. Holder’s holding period for the share rights or ADS rights would commence on the date of distribution. For further disclosure on taxation of dividends, see “—Taxation of Distributions on New Shares or New ADSs.” The balance of the discussion below assumes that the distribution of share rights or ADS rights will not be a taxable distribution.

Basis and Holding Period of the Rights

If the fair market value of the share rights or ADS rights received by a U.S. Holder is less than 15% of the fair market value of the outstanding existing common shares or ADSs held by such U.S. Holder with respect to which the share rights or ADS rights were distributed on the date of distribution, the share rights or ADS rights will be allocated a zero basis for U.S. federal income tax purposes, unless the U.S. Holder affirmatively elects to allocate basis in proportion to the relative fair market values of its existing common shares or ADSs, on the one hand, and the share rights or ADS rights received, on the other hand (as determined on the date of distribution). This irrevocable election must be made in the tax return for the taxable year in which the share rights or ADS rights are received, and will apply to all share rights or ADS rights received by the U.S. Holder pursuant to the rights offerings. On the other hand, if the fair market value of the share rights or ADS rights received by a U.S. Holder is 15% or greater than the fair market value of existing common shares or ADSs held by such U.S. Holder, respectively, with respect to which the share rights or ADS rights were distributed on the date of distribution, then the basis in the U.S. Holder’s existing common shares must be allocated between its existing common shares or ADSs, on the one hand, and the share rights or ADS rights, on the other hand, in proportion to their fair market values (as determined on the date of distribution). The fair market value of the share rights and ADS rights on the date the share rights and ADS rights will be distributed is uncertain, and we have not obtained, and do not intend to obtain, an appraisal of the fair market value of the share rights and ADS rights on that

date. A U.S. Holder’s holding period in the share rights or ADS rights will include the U.S. Holder’s holding period for the existing common shares or ADSs with respect to which the share rights or ADS rights were distributed.

Exercise of the Share Rights or ADS Rights

The exercise of a share right or ADS right by, or on behalf of, a U.S. Holder will not be a taxable transaction for U.S. federal income tax purposes. The basis of each New Share or New ADS acquired upon exercise of the share right or ADS right will equal the sum of the U.S. dollar value of the applicable subscription price and the U.S. Holder’s tax basis (as determined above), if any, in the share right or ADS right exercised. The holding period of the New Shares or New ADSs shall begin on the day the share rights or ADS rights are exercised.

If, at the time of the receipt or exercise of the share right or ADS right, the U.S. Holder no longer holds the common shares or ADSs with respect to which the share right or ADS right was distributed, then certain aspects of the tax treatment of the receipt and exercise of the share right or ADS right are unclear, including (1) the allocation of the tax basis between the common shares or ADSs previously sold and the share right or ADS right, (2) the impact of such allocation on the amount and timing of gain or loss recognized with respect to the common shares or ADSs previously sold, and (3) the impact of such allocation on the tax basis of the New Shares and New ADSs acquired upon exercise of the share right or ADS right. U.S. Holders who exercise a share right or ADS right received in the rights offerings after disposing of our common shares or ADSs with respect to which the share right or ADS right is received, should consult their own tax advisor.

Sale or Expiration of Share Rights and ADS Rights

For U.S. federal income tax purposes, gain or loss realized on a sale of share rights or ADS rights by the U.S. Holder will be capital gain or loss, and will be long-term capital gain or loss if the holding period for the share rights or ADS rights is more than one year. For these purposes, the holding period for the share rights or ADS rights will include the holding period of the existing common shares or ADSs with respect to which the share rights or ADS rights were distributed. The deductibility of capital losses is subject to limitations. The amount of the gain or loss will be equal to the difference between the U.S. Holder’s tax basis in the share rights or ADS rights disposed of (as determined above) and the U.S. dollar value of the amount realized on the disposition.

Gain or loss recognized by a U.S. Holder on a sale of share rights or ADS rights generally will be treated as U.S. source income or loss for U.S. foreign tax credit purposes. Consequently, the U.S. Holder may not be able to use the foreign tax credit arising from any Chilean tax imposed on the disposition of a share right or ADS right unless such credit can be applied against tax due on other income treated as derived from foreign sources in the appropriate limitation category.

In the event the share rights or ADS rights expire without being sold or exercised, the share rights or ADS rights will be deemed to have a zero basis and, therefore, the U.S. Holder will not recognize any loss upon the expiration of the share rights or ADS rights, and the U.S. Holder should re-allocate any portion of the tax basis in the U.S. Holder’s existing common shares or ADSs previously allocated to the share rights or ADS rights that have expired to their existing common shares or ADSs.

Material U.S. Federal Income Tax Consequences of Owning and Disposing of New Shares or New ADSs

Tax Treatment of ADSs

For U.S. federal income tax purposes, it is generally expected that a U.S. Holder of ADSs will be treated as the beneficial owner of the underlying shares represented by the ADSs. The remainder of this discussion assumes that a U.S. Holder of ADSs will be treated in this manner for U.S. federal income tax purposes. Accordingly, deposits or withdrawals of shares for ADSs will generally not be subject to U.S. federal income tax.

Taxation of Distributions

The following discussion of cash dividends and other distributions is subject to the discussion below under “—Passive Foreign Investment Company Rules.” Distributions received by a U.S. Holder on New Shares or New ADSs, including the amount of any Chilean taxes withheld, other than certain pro rata distributions of shares to all shareholders, will constitute foreign-source income to the extent paid out of our current or accumulated earnings and profits (as determined for U.S. federal income tax purposes). Because we do not maintain, and do not intend to maintain, calculations of our earnings and profits under U.S. federal income tax principles, it is expected that distributions generally will be reported to U.S. Holders as dividends. The amount of dividend income paid in Chilean pesos that a U.S. Holder will be required to include in income will equal the U.S. dollar value of the distributed Chilean peso dividend, calculated by reference to the exchange rate in effect on the date the payment is received, regardless of whether the payment is converted into U.S. dollars on the date of receipt. If the dividend is converted into U.S. dollars on the date of receipt, a U.S. Holder will generally not be required to recognize foreign currency gain or loss in respect of the dividend income. A U.S. Holder may have foreign currency gain or loss if the dividend is converted into U.S. dollars after the date of its receipt, which would be ordinary income or loss and would be treated as income from U.S. sources for foreign tax credit purposes. Dividends will be included in a U.S. Holder’s income on the date of the U.S. Holder’s (or in the case of ADSs, the ADS Depositary’s) receipt of the dividend.

Subject to certain exceptions for short-term and hedged positions, the U.S. dollar amount of dividends received by a noncorporate U.S. Holder in respect of New Shares or New ADSs generally will be subject to taxation at preferential rates if the dividends are “qualified dividends.” Dividends paid on the New Shares or New ADSs generally will be treated as qualified dividends if (i) the New Shares or New ADSs are readily tradable on an established securities market in the United States, (ii) Itaú Corpbanca has determined that it was not, in the year prior to the year in which the dividend was paid, and is not, in the year in which the dividend is paid, a passive foreign investment company (“PFIC”) and (iii) the holder thereof has satisfied certain holding period requirements. The ADSs are listed on the NYSE and generally will qualify as readily tradable on an established securities market in the United States so long as they are so listed. We believe that we were not a PFIC for U.S. federal income tax purposes with respect to our 2020 taxable year. In addition, based on our current expectations regarding the value and nature of our assets, the sources and nature of our income, and relevant market and shareholder data, we do not anticipate becoming a PFIC for our 2021 taxable year. However, because PFIC status depends upon the composition of a company’s income and assets and the market value of its assets from time to time, because it is unclear whether certain types of our income constitute passive income for PFIC purposes, and because as described below our PFIC status depends on the application of certain proposed regulations that may not be finalized in their current form, there can be no assurance that we will not be considered a PFIC for any current, prior or future taxable year.

Based on existing guidance, it is not entirely clear whether dividends received with respect to New Shares will be treated as qualified dividends, because the common shares are not themselves listed on a U.S. exchange. U.S. Holders should consult their own tax advisors to determine whether the favorable rate will apply to dividends they receive and whether they are subject to any special rules that limit their ability to be taxed at this favorable rate.

The amount of a dividend generally will be treated as foreign-source dividend income to a U.S. Holder for foreign tax credit purposes. As discussed in more detail below under “—Foreign Tax Credits,” Chilean withholding tax is likely to be treated as an eligible foreign income tax (after taking into account any credit in Chile against such withholding tax). As such, subject to generally applicable limitations, a U.S. Holder may claim a credit against its U.S. federal income tax liability for the eligible Chilean taxes actually withheld from distributions on New Shares or New ADSs (after taking into account any credit in Chile against such withholding tax). If the dividends are taxed as qualified dividend income (as discussed above), special rules will apply in determining the amount of the dividend taken into account for purposes of calculating the foreign tax credit limitation. The rules relating to foreign tax credits are complex. U.S. Holders are urged to consult their own tax advisors regarding the treatment of Chilean withholding taxes imposed on distributions on New Shares or New ADSs.

Sale or Other Disposition of New Shares or New ADSs

The gain or loss a U.S. Holder realizes on the sale or other disposition of New Shares or New ADSs generally will be U.S.-source capital gain or loss for foreign tax credit purposes, and generally will be a long-term capital gain or loss if the U.S. Holder has held the New Shares or New ADSs for more than one year. The gain or loss will equal the difference between the U.S. Holder’s tax basis in the New Shares or New ADSs disposed of and the amount realized on the disposition (including any amount withheld in respect of Chilean withholding taxes; see “—Material Chilean Tax Consequences—Taxation of Shares and ADSs”), in each case as determined in U.S. dollars. A U.S. Holder’s tax basis in the New Shares or New ADSs acquired pursuant to the exercise of the share rights or ADS rights will be as described above under “—Material U.S. Federal Income Tax Consequences of the Rights Offering—Exercise of Share Rights or ADS Rights.” Such gain or loss will generally be U.S.-source gain or loss for foreign tax credit purposes. In addition, certain limitations exist on the deductibility of capital losses by both corporate and individual taxpayers.

In certain circumstances, Chilean taxes may be imposed upon the sale or other disposition of New Shares (but not New ADSs). See “—Material Chilean Tax Consequences—Taxation of Shares and ADSs.” As discussed in more detail below under “—Foreign Tax Credits,” whether a U.S. Holder will be able to claim a credit against its U.S. federal income tax liability for any Chilean taxes withheld with respect to a sale or other disposition of New Shares will depend on the U.S. Holder’s circumstances.

Foreign Tax Credits

Subject to applicable limitations that may vary depending upon a U.S. Holder’s circumstances, a U.S. Holder may be able to claim a credit against its U.S. tax liability for Chilean income taxes (or taxes imposed in lieu of an income tax) imposed in connection with the rights offerings and on distributions on and proceeds from the sale or other disposition of New Shares or New ADSs. Chilean dividend withholding taxes generally are expected to be income taxes eligible for the foreign tax credit. The Chilean tax is likely to be treated as an income tax (or a tax paid in lieu of an income tax) and thus eligible for the foreign tax credit; however, a U.S. Holder generally may claim a foreign tax credit only after taking into account any available opportunity to reduce the Chilean capital gains tax, such as the reduction for the credit for Chilean corporate income tax that is taken into account when calculating Chilean withholding tax, as discussed below under “—Chilean Tax Considerations—Taxation of Shares and ADSs.” A U.S. Holder would be entitled to use foreign tax credits to offset only the portion of its U.S. federal income tax liability that was attributable to foreign-source income. If a Chilean tax is imposed on the sale or disposition of share rights or New Shares, and a U.S. Holder does not have sufficient foreign-source income from other sources, such U.S. Holder may not be able to credit such Chilean tax against its U.S. federal income tax liability. If a Chilean tax is not treated as an income tax (or a tax paid in lieu of an income tax) for U.S. federal income tax purposes, a U.S. Holder would be unable to claim a foreign tax credit for any such Chilean tax withheld; however, a U.S. Holder may be able to deduct such tax in computing its U.S. federal income tax liability, subject to applicable limitations. In addition, instead of claiming a credit, a U.S. Holder may, at the U.S. Holder’s election, deduct such Chilean taxes in computing the U.S. Holder’s taxable income, subject to generally applicable limitations under U.S. law. An election to deduct foreign taxes instead of claiming foreign tax credits applies to all taxes paid or accrued in the taxable year to foreign countries and possessions of the United States. The calculation of foreign tax credits and, in the case of a U.S. Holder that elects to deduct foreign income taxes, the availability of deductions, involves the application of complex rules that depend on such U.S. Holder’s particular circumstances. U.S. Holders are urged to consult their tax advisors regarding the availability of foreign tax credits in their particular circumstances.

Passive Foreign Investment Company Rules

Based upon our present regulatory status under Chilean law, current estimates, expectations and projections of the value and classification of our assets and the sources and nature of our income, we believe that we were not a PFIC for U.S. federal income tax purposes for 2020, and we do not anticipate becoming a PFIC in our current taxable year or in the foreseeable future, but this conclusion is a factual determination that is made annually and there can be no assurance that we will not be considered a PFIC for the current taxable year or any subsequent taxable year. Our actual PFIC status for our current taxable year ending December 31, 2021 will not be determinable until after the close of such taxable year and, accordingly, there is no guarantee that we will not be a PFIC for 2021.

In general, we will be a PFIC with respect to a U.S. Holder if for any taxable year in which such U.S. Holder held our New Shares or New ADSs (or under proposed regulations that have a retroactive effective date, rights):

Passive income for this purpose generally includes dividends, interest, royalties, rents, annuities and gains from assets that produce passive income. We will be treated as owning our proportionate share of the assets and earnings and our proportionate share of the income of any other corporation in which we own, directly or indirectly, at least 25% by value of the stock of another corporation. If we are a PFIC for any year during which a U.S. Holder holds our New Shares or New ADSs, such U.S. Holder will generally be required to treat our New Shares or New ADSs as stock in a PFIC for all succeeding years during which it holds our New Shares or New ADSs, even if we do not otherwise meet the PFIC tests for any such succeeding year.

We are unable to determine with certainty that we are not a PFIC because the application of the PFIC rules to banks is unclear under present U.S. federal income tax law. Banks generally derive a substantial part of their income from assets that are interest bearing or that otherwise could be considered passive under the PFIC rules. The IRS has issued a notice and has proposed multiple sets of regulations, which together describe what is referred to as the “active bank exception.” For purposes of the PFIC test, the active bank exception excludes from passive income any income derived in the active conduct of a banking business by a qualifying foreign bank. The IRS notice and the various proposed regulations each have different requirements for qualifying as a foreign bank and for determining the banking income that may be excluded from passive income under the active bank exception. Moreover, the proposed regulations (some of which have been outstanding since 1994 and others of which were recently issued in 2020) will not be effective unless finalized, although under current administrative guidance generally they can be relied on prior to their finalization. Nevertheless, we believe that we should qualify as an active bank under the requirements of both the notice and the proposed regulations, assuming that the proposed regulations are finalized in their current form.

In addition, because a PFIC determination is a factual determination that must be made following the close of each taxable year and is based on, among other things, the market value of our assets and shares, and because the proposed regulations are not currently in force and may not be finalized in their current form, our PFIC status may change and there can be no assurance that we will not be considered a PFIC for the current taxable year or any subsequent taxable year. If we are treated as a PFIC for any year in which a U.S. Holder holds New Shares or New ADSs (or under proposed regulations that have a retroactive effective date, rights), and such U.S. Holder did not make a mark-to-market election, as described below, such U.S. Holder will be subject to special rules with respect to:

Under these rules:

The tax liability for amounts allocated to years prior to the year of disposition or “excess distribution” cannot be offset by any net operating losses for such years, and gains (but not losses) realized on the sale of the New Shares or New ADSs cannot be treated as capital, even if a U.S. Holder holds the ADSs or ordinary shares as capital assets. If we were a PFIC, certain subsidiaries and other entities in which we have a direct or indirect interest may also be PFICs, or Lower-tier PFICs. Under attribution rules, U.S. Holders would be deemed to own their proportionate shares of Lower-tier PFICs and would be subject to U.S. federal income tax according to the rules described above on (1) certain distributions by a Lower-tier PFIC and (2) certain dispositions of shares of a Lower-tier PFIC, in each case as if the U.S. Holder held such shares directly, even though such U.S. Holder had not received the proceeds of those distributions or dispositions.

Alternatively, a U.S. Holder of “marketable stock” (as defined below) may make a mark-to-market election. If a U.S. Holder makes this election, it will not be subject to the PFIC rules described above. Instead, in general, it will include as ordinary income each year the excess, if any, of the fair market value of its New Shares or New ADSs at the end of the taxable year over its adjusted basis in its New Shares or New ADSs. These amounts of ordinary income will not be eligible for the reduced tax rates applicable to qualified dividend income or long-term capital gains. A U.S. Holder will also be allowed to take an ordinary loss in respect of both (1) the excess, if any, of the adjusted basis of its New Shares or New ADSs over their fair market value at the end of the taxable year and (2) any loss realized on the actual sale or disposition of the New Shares or New ADSs, but in each case only to the extent of the net amount of previously included income as a result of the mark-to-market election. Any loss on an actual sale of New Shares or New ADSs would be a capital loss to the extent it exceeds any previously included mark-to-market income not offset by previous ordinary deductions. A U.S. Holder’s basis in the New Shares or New ADSs will be adjusted to reflect any such income or loss amounts.

The mark-to-market election is available only for “marketable stock,” which is stock that is regularly traded in other than de minimis quantities on at least 15 days during each calendar quarter on a qualified exchange, including the NYSE, or other market, as defined in applicable regulations. The ADSs are listed on the NYSE, and we expect, although no assurance can be given, that they will be regularly traded on the NYSE. It is unclear whether the common shares will be treated as “marketable stock” for purpose of the mark-to-market rules. In addition, the mark-to-market election generally would not be effective for any Lower-tier PFICs. U.S. Holders are urged to consult their own tax advisors regarding the U.S. federal income tax consequences that would arise if we are treated as a PFIC while such U.S. Holders hold New Shares or New ADSs.

Notwithstanding any election a U.S. Holder makes with regard to the New Shares or New ADSs, dividends that such U.S. Holder receives from us will not constitute qualified dividend income to such U.S. Holder, and therefore are not eligible for the reduced tax rate described above, if we are a PFIC either in the taxable year of the distribution or any preceding taxable year during which such U.S. Holder held our New Shares or New ADSs. Instead, a U.S. Holder must include the gross amount of any such dividend paid by us out of our accumulated earnings and profits (as determined for U.S. federal income tax purposes) in its gross income, and these amounts will be subject to tax at rates applicable to ordinary income.

If a U.S. Holder directly (and, in some cases, indirectly) own New Shares or New ADSs that are treated as PFIC shares with respect to such U.S. Holder during a taxable year, such U.S. Holder will be required to file an annual report for such taxable year.

In addition, if we are a PFIC, we do not intend to prepare or provide the information necessary to make a “qualified electing fund” election, which, like the mark-to-market election, is a means by which U.S. taxpayers may elect out of the tax treatment that generally applies to PFICs.

Required Disclosure with Respect to Foreign Financial Assets

Certain U.S. Holders are required to report information relating to an interest in New Shares or New ADSs to the IRS, subject to certain exceptions (including an exception for New Shares or New ADSs held in accounts maintained by certain financial institutions), by attaching a completed IRS Form 8938, Statement of Specified Foreign Financial Assets, to their tax return for each year in which they hold an interest in the New Shares or New ADSs.

Transfer Reporting Requirements

A U.S. Holder that subscribes for New Shares or New ADSs may be required to file IRS Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation, with the IRS if the aggregate subscription price paid by the U.S. Holder, when aggregated with all transfers of cash made by the U.S. Holder (or any related person) to us within the preceding twelve-month period, exceeds US$100,000 (or its foreign currency equivalent). U.S. Holders that are required to file IRS Form 926, but fail to do so, could be subject to substantial penalties.

Information Reporting and Backup Withholding

Payments of dividends and sales proceeds to U.S. Holders generally will be subject to information reporting and to backup withholding unless (i) the U.S. Holder is an exempt recipient that, if required, appropriately documents its exemption or (ii) in the case of backup withholding, the U.S. Holder provides a correct taxpayer identification number and certifies that it is not subject to backup withholding. Holders who are not U.S. Holders may be required to certify their status as non-U.S. persons in order to avoid the application of these rules.

Backup withholding is not an additional tax. The amount of any backup withholding from a payment to a U.S. Holder generally will be allowed as a credit against its U.S. federal income tax liability and may entitle it to a refund, provided that the required information is timely furnished to the IRS.

A U.S. Holder should consult its own tax advisors with respect to the particular consequences to it of receiving, exercising or disposing of share rights or ADS rights and of owning and disposing of New Shares or New ADSs.

Material Chilean Tax Consequences

The following discussion summarizes material Chilean income and withholding tax consequences to Foreign Holders (as defined below) arising from the ownership and disposition of share rights, ADS rights, shares and ADSs. The summary which follows does not purport to be a comprehensive description of all of the tax considerations that may be relevant to a decision to purchase, own or dispose of share rights, ADS rights, shares or ADSs and does not purport to deal with the tax consequences applicable to all categories of investors, some of which may be subject to special rules. Holders of shares and ADSs are advised to consult their own tax advisors concerning the Chilean and other tax consequences of the ownership of shares or ADSs.

As used herein, the term “Foreign Holder” means either:

Under Chilean law, certain provisions contained in statutes such as tax rates applicable to foreign investors, the computation of taxable income for Chilean purposes and the manner in which Chilean taxes are imposed and collected may only be amended by another statute. In addition, the Chilean tax authorities issue rulings and regulations of either general or specific application and interpret the provisions of Chilean tax law. Chilean taxes may not be assessed retroactively against taxpayers who act in good faith relying on such rulings, regulations and interpretations. Chilean tax authorities may, however, change such rules, regulations and interpretations prospectively. There is currently no applicable income tax treaty in effect between Chile and the United States. However, in 2010, Chile and the United States signed an income tax treaty that has not yet been ratified by either country. The following summary assumes that there is no applicable income tax treaty in effect between Chile and the United States.

This discussion:

We have not sought and will not seek any rulings from the SII with respect to any matter discussed herein. No assurance can be given that the SII would not assert, or that a court would not sustain a position contrary to any of the tax characterizations and tax consequences set forth below.

Taxation on Capital Gains

Taxation on Sale or Exchange of ADSs Outside of Chile

Gains obtained by a Foreign Holder from the sale or exchange of ADSs outside Chile will not be subject to Chilean taxation.

Taxation on Sale or Exchange of Shares

The Chilean Income Tax Law includes a tax exemption on capital gains arising from the sale of shares of listed companies traded in the stock markets. Although there are certain restrictions, in general terms, the Chilean Income Tax Law, as amended, provides that in order to qualify for the capital gain exemption: (i) the shares must be of a publicly held stock corporation with a “sufficient stock market liquidity” status in the Chilean Stock Exchanges; (ii) the sale must be carried out in a Chilean Stock Exchange authorized by the CMF, or in a tender offer subject to Chapter XXV of the Chilean Securities Market Law or as the consequence of a contribution to a fund as regulated in Section 109 of the Chilean Income Tax Law; (iii) the shares which are being sold must have been acquired on a Chilean Stock Exchange, or in a tender offer subject to Chapter XXV of the Chilean Securities Market Law, or in an initial public offering (due to the creation of a company or to a capital increase), or due to the exchange of convertible publicly offered securities, or due to the redemption of a fund’s quota as regulated in Section 109 of the Chilean Income Tax Law; and (iv) the shares must have been acquired after April 19, 2001. For purposes of considering the ADSs as convertible publicly offered securities, they should comply with the requirements set forth by ruling No. 1.480 of August 22, 2014, of the Chilean Internal Revenue Service, which, among other, requires to be registered in the Chilean foreign securities registry (or it is expressly excluded from such registry by the CMF).

If the shares do not qualify for the above exemption, capital gains on the sale or exchange of common shares (as distinguished from sales or exchanges of ADSs representing such common shares) could be subject to a 35% Chilean withholding tax. Such rate could be reduced by the application of a double tax treaty subscribed by Chile. Provisional withholding obligations are applicable under Chilean law based on different rates depending on whether the capital gain can be determined at the time of the sale.

The date of acquisition of the ADSs is considered to be the date of acquisition of the shares for which the ADSs are exchanged.

Taxation of Share Rights and ADS Rights

For Chilean tax purposes and to the extent we issue any share rights or ADS rights, the receipt of share rights or ADS rights by a Foreign Holder of shares or ADSs pursuant to a rights offering is a nontaxable event. In addition, there are no Chilean income tax consequences to Foreign Holders upon the exercise or the lapse of the share rights or the ADS rights.

Any gain on the sale, exchange or transfer of any ADS rights by a Foreign Holder is not subject to taxes in Chile.

Any gain on the sale, exchange or transfer of the share rights by a Foreign Holder is subject to a 35% Chilean withholding tax.

Other Chilean Taxes

There is no gift, inheritance or succession tax applicable to the ownership, transfer or disposition of ADSs by Foreign Holders, but such taxes will generally apply to the transfer at death or by gift of the shares by a Foreign Holder. There is no Chilean stamp, issue, registration or similar taxes or duties payable by holders of shares or ADSs.

Chilean Tax Consequences of Ownership of Shares or ADSs by Foreign Holders

Ownership and Disposition of Shares and ADSs

The following discussion summarizes material Chilean income and withholding tax consequences to Foreign Holders arising from the ownership and disposition of shares and ADSs and, to the extent any are issued, share rights and ADS rights. The summary that follows does not purport to be a comprehensive description of all of the tax considerations that may be relevant to a decision to purchase, own or dispose of shares or ADSs and share rights or ADS rights, if any, and does not purport to deal with the tax consequences applicable to all categories of investors, some of which may be subject to special rules. Holders of shares and ADSs are advised to consult their own tax advisors concerning the Chilean and other tax consequences of the ownership of shares or ADSs.

Taxation of Shares and ADSs

Taxation of Cash Dividends and Property Distributions

Cash dividends paid with respect to the shares or ADSs held by a Foreign Holder will be subject to Chilean withholding tax, which is withheld and paid by us. The amount of the Chilean withholding tax is determined by applying a 35% rate to a “grossed-up” distribution amount (such amount equal to the sum of the actual distribution amount and the correlative Chilean corporate income tax or “CIT” paid by the issuer), and then subtracting as a credit 65% of such Chilean CIT paid by the issuer, in case the residence country of the holder of share or ADS does not have a tax treaty with Chile. If there is a tax treaty between both countries in force or that was signed prior to January 1, 2020 and until December 31, 2026 (even if not yet in effect), the Foreign Holder can apply 100% of the CIT as a credit. For the year 2021, the Chilean CIT applicable to Itaú Corpbanca is a rate of 27%, and depending on the circumstances mentioned above, the Foreign Holder may apply 100% or 65% of the CIT as a credit.

We pay CIT on its annual result. Foreign and local individual shareholders will only pay in Chile the relevant tax on effective profit distributions and will be allowed to use the CIT paid by the distributing company as credit, with certain limitations. Only 65% of the CIT is creditable against the 35% shareholder-level tax. However, if there is a tax treaty signed before January 1, 2020 between Chile and the jurisdiction of residence of the shareholder (even if not yet in effect), the CIT is fully creditable against the 35% withholding tax. This is the case of the tax treaty signed between Chile and the United States. In the case of treaties signed prior to January 1, 2020 that have not been enacted, a

temporary sale permits the application of the 100% of CIT as a credit until December 31, 2026 or if such treaty is enacted on or before December 31, 2026.

The example below illustrates the effective Chilean withholding tax burden on a cash dividend received by a Foreign Holder, assuming a Chilean withholding tax base rate of 35%, an effective Chilean CIT rate of 27% and a distribution of 50% of our net income distributable after payment of the Chilean CIT: